Navios Q2 Profit Doubles

23 August 2010 (Last Updated August 23rd, 2010 18:30)

Navios Maritime Holdings has reported a 110.1% increase in 2010 second quarter net income of $46.5m, compared with $22.1m in the corresponding period a year earlier. The Greece-based company said the figure also represents a 70.4% increase in Q2 EBITDA of $91.0m against $53.4m in the same

Navios Maritime Holdings has reported a 110.1% increase in 2010 second quarter net income of $46.5m, compared with $22.1m in the corresponding period a year earlier.

The Greece-based company said the figure also represents a 70.4% increase in Q2 EBITDA of $91.0m against $53.4m in the same period in 2009.

Navios said the results will enable it to focus on the operating fundamentals of its drybulk business and help maintain a healthy balance sheet.

The company operates 39 vessels and is scheduled to receive 20 additional ships by 2013.