Navios Maritime Holdings Inc. Announces Delivery of Capesize New Building Vessel

PIRAEUS, Greece, Dec 15, 2009 /PRNewswire-FirstCall via COMTEX/ -- Navios Maritime Holdings Inc. ("Navios Holdings") (NYSE: NM), a global, vertically integrated seaborne shipping and logistics company, announced today that the Navios Lumen, a new building Capesize vessel of 180,660 dwt was delivered from a South Korean shipyard on December 10, 2009. The purchase was partly financed by the proceeds of the recent 8 7/8% First Priority Ship Mortgage Notes with the amount of $52.5 million.

Time Charter Coverage

As of December 15, 2009, Navios Holdings had contracted 99.5%, 86.1%, 63.4% and 56.6% of its available days on a charter-out basis for 2009, 2010, 2011 and 2012, respectively. Navios Holdings has extended its long-term fleet employment by entering into agreements to charter-out vessels for periods ranging from one to 12 years.

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. For more information please visit our website: www.navios.com.

Navios Holdings may, from time to time, be required to offer certain owned Capesize and Panamax vessels to Navios Maritime Partners L.P. ("Navios Partners") (NYSE: NMM) for purchase at fair market value according to the terms of the Omnibus Agreement. For more information please visit its website: www.navios-mlp.com.

Navios Maritime Holdings Inc.