Navios Maritime Holdings Inc. Takes Delivery of Navios Ulysses; Commences 5-year Time Charter at $31,281 Net Daily Rate

PIRAEUS, Greece, Oct. 13 /PRNewswire-FirstCall/ -- Navios Maritime Holdings Inc. ("Navios Holdings") (NYSE: NM), a global, vertically integrated seaborne shipping and logistics company, took delivery of the Navios Ulysses, a 2007-built, 55,728 dwt Ultra Handymax vessel. The Navios Ulysses commenced a five-year time charter at a net daily rate of $31,281.

"We are pleased with the delivery and long-term employment of the Navios Ulysses," said Ms. Angeliki Frangou, Chairman and CEO of Navios Holdings. "The rate for this charter is significantly higher than the current rate for Ultra Handymaxes, and we believe this charter demonstrates the strength of our business model."

The table below highlights current fixed operating days for 2008-2010:



About Navios Maritime Holdings Inc.

Navios Maritime Holdings Inc. is a global, vertically integrated seaborne shipping and logistics company focused on the transport and transshipment of drybulk commodities including iron ore, coal and grain.

Navios Holdings may, from time to time, be required to offer certain owned Capesize and Panamax vessels to Navios Maritime Partners L.P. for purchase at fair market value according to the terms of the Omnibus Agreement.

Navios Maritime Holdings Inc.