Two year charter for NAVIOS ASTRA
Recently built ultra-handymax extends company's fleet coverage


Navios Maritime Holdings Inc., a large, global, vertically integrated seaborne shipping company, announced recently that it has secured a two-year time-charter for the chartered-in Ultra-Handymax, Navios Astra at a net rate of $34,200 per day beginning in August 2007.

The 53,468 DWT Navios Astra was built and delivered in 2006. Navios has a purchase option on the vessel as part of its long term charter-in agreement.

"In this robust dry bulk rate environment, we continue to seek long-term coverage for our fleet," said Ms. Angeliki Frangou, Chairman and CEO of Navios.

As a result of this new charter, Navios has extended the coverage of its core fleet (excluding vessels acquired through the Kleimar N.V. transaction) to 96.0% for 2007, 70.7% for 2008 and 27.8% for 2009.

Navios currently controls 45 vessels, of which 21 are owned and 24 are chartered-in. Of the chartered-in vessels, 17 are currently operating, and 7 are still to be delivered. Navios holds 11 purchase options on the 24 chartered-in vessels, 8 on operating vessels, and 3 on the vessels still to be delivered. All of these purchase options are for exercise prices below the related vessel's current market value.

NAVIOS ASTRA was built at the Imabari Shipyard in Japan