Navios Maritime (NMM) is an international owner and operator of drybulk carriers, formed by Navios Maritime Holdings Inc (NM). NMM reported its earnings last Tuesday. The company topped both the earnings and revenue estimates. This was a surprise, given that dry bulkers have been facing tough times since 2009, when most of them could not predict the future demand and ordered much more vessels than actually required. This led to overcapacity, which in turn brought down the freight rates to ridiculously low levels. NMM offers a dividend yield of 11.5%.
An Update on the Baltic Dry Index (BDI)
BDI is composed of weighted averages of Baltic Capesize Index (BCI), Baltic Handysize Index (BHI), Baltic Panamax Index (BPI) and Baltic Supramax Index (BSI).
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