Navios Maritime Holdings (NM)

F2Q10 Earnings Call

August 19, 2010 8:30 a.m. ET


Angeliki Frangou – Chairman and CEO

Ted Petrone – President, Navios Corporation

George Achniotis – CFO


Jon Chappell – JP Morgan

Natasha Boyden – Cantor Fitzgerald

John Parker – Jefferies

Doug Garber – FBR Capital Markets

Justine Fisher – Goldman Sachs



Thank you for joining us for this morning’s call. With us today from Navios Maritime Holdings are Chairman and CEO Ms. Angeliki Frangou, President Mr. Ted Petrone, and Chief Financial Officer Mr. George Achniotis.

As a reminder, this conference call is also being webcast. To access the webcast, please go to the investor section of Navios’ web site,, for reference.

Before I review the structure of this morning’s call, I’d like to read the Safe Harbor statement. This conference could contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about Navios. Forward-looking statements are statements that are not historical fact. Such forward-looking statements are based upon the current beliefs and expectations of Navios' management and are subject to risks and uncertainties, which could cause actual results to differ from forward-looking statements. Such risks are more fully discussed in Navios' filings with the Securities and Exchange Commission. The information set forth herein should be understood in light of such risks. Navios does not assume any obligation to update this information contained in this conference call. Thanks.

At this time, I would like to outline the agenda for today’s call. First, Ms. Frangou will offer opening remarks. Next, Mr. Petrone will provide an operational update and an overview of market fundamentals. Following Mr. Petrone's remarks, Mr. Achniotis will review Navios' second quarter 2010 financial results. Finally, Ms. Frangou will offer concluding remarks. At the completion of formal remarks, the company will open the call to take your questions.

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