Navios Maritime Holdings’ profit for the second quarter jumped 80% from a year ago, thanks mostly due to attaining higher rates in a better dry bulk market.
The company, which had been the owner of 36 bulkers before selling its fleet, posted a $44.9m profit for the quarter, up from $24.9m in earnings a year earlier.
Second-quarter revenue came in at $159m, up from $144m during the same period last year, in great part due to earning much higher time charter equivalent (TCE) rates.
