Angeliki Frangou, Chairman and Chief Executive Officer, stated, “While the humanitarian crises caused by the pandemic has been heart breaking, we have also been strengthened by the courage and compassion of the first responders, particularly the many dedicated health care workers. I am proud of the members of the Navios family as they have shown admirable resilience during this unprecedented time of uncertainty, and we have taken the necessary measures to ensure safety of our people while keeping our fleet functioning.”
Angeliki Frangou continued, “For the first quarter of 2020, Navios Holdings reported revenue of $91.1 million, Adjusted EBITDA of $28.7 million and a TCE equivalent of $7,082. We experienced weak charter rates in the drybulk market in the first quarter and so far in the second quarter. Year to date 2020, the capesize 5TC rate averaged around $5,000 per day versus the 2019 average of $18,000 per day. We anticipate growth in the second half of the year as global economic activity returns.”
More details here https://cyprusshippingnews.com/2020/06/05/angeliki-frangou-we-experienced-weak-charter-rates-in-the-drybulk-market-in-the-first-quarter-but-we-anticipate-growth-in-the-second-half-of-the-year-as-global-economic-activity-returns/