Navios South American Logistics Inc. Inaugurates Iron Ore Transshipment and Storage Facility
April 03 2017 - 9:25AM
Navios South American Logistics Inc. ("Navios Logistics"), a
subsidiary of Navios Maritime Holdings Inc. (NYSE:NM), announced
the inauguration of its newly completed iron ore transshipment and
storage facility in the Nueva Palmira Free Zone, Uruguay on
Thursday March 30, 2017.
Present at the inauguration was the Board of
Directors and executive team of Navios Logistics as well as
representatives from a number of branches of the government of
Uruguay, including the Minister of Transport and Public Works, Mr.
Victor Rossi, and the Minister of Foreign Affairs, Mr. Rodolfo Nin
Novoa.
Ms. Angeliki Frangou, Chairman of Navios Logistics,
said, "We celebrated the culmination of a four-year effort by
inaugurating our world-class iron ore transshipment and storage
facility. The new facility represents a significant investment in
essential infrastructure for the region and a critical component of
the export supply chain of Navios Logistics's customers. With
the completion of the iron ore facility, we have about 70 acres
available for further expansion.”
Ms. Frangou continued, “Our state-of-the art
facility can transship 10 million tons per year, with a loading
rate of 3,900 tons per hour, can accommodate simultaneous loading
of ocean-going vessels and unloading barges, and has an initial
storage capacity of not less than 700,000 tons of iron ore. The
facilities include a new pier for loading ocean-going vessels, a
new pier for unloading river barges, and a new mooring location for
barge convoys. When the iron ore facility is fully operational, we
expect to double the number of our employees to a total of 320
people.”
Mr. Claudio Lopez, Chief Executive Officer of
Navios Logistics, added, “We operate on about 150 acres in a
perfect location, at the mouth of the river, where commodities can
be transshipped through Capesize vessels. The iron ore storage and
transshipment facility will provide a significant additional
service we can offer our customers. We expect that this facility
will allow us to expand our service both through barge
transportation to the facility as well as through transshipment and
storage."
Navios Logistics has a 20-year commitment to
provide Vale International S.A. with storage and transshipment of
iron ore and other commodities for a minimum of 4.0 million tons
annually. With the inauguration of the facilities, Navios Logistics
has received indications of interest from other parties for
transshipment services, although no assurances can be provided such
will materialize into contracts.
About Navios South American Logistics
Inc.Navios South American Logistics Inc. ("Navios
Logistics") is one of the largest logistics companies in the
Hidrovia region of South America, focusing on the Hidrovia region
river system, the main navigable river system in the region, and on
cabotage trades along the eastern coast of South America. Navios
Logistics serves the storage and marine transportation needs of its
petroleum, agricultural and mining customers through its port
terminal, river barge and coastal cabotage operations. For more
information about Navios Logistics please visit our website:
www.navioslogistics.com.
About Navios Maritime Holdings
Inc.Navios Maritime Holdings Inc. (NYSE:NM) is a global,
vertically integrated seaborne shipping and logistics company
focused on the transport and transshipment of drybulk commodities
including iron ore, coal and grain. For more information about
Navios Holdings please visit our website: www.navios.com.
Forward-Looking StatementsThis
press-release contains forward-looking statements within the
meaning of the Private Securities Reform Act of 1995. All
statements herein other than statements of historical fact,
including statements regarding business and industry prospects or
future results of operations or financial position, and future
dividends or distributions, should be considered forward-looking.
Words such as “may,” “expects,” “intends,” “plans,” “believes,”
“anticipates,” “hopes,” “estimates,” and variations of such words
and similar expressions are intended to identify forward-looking
statements. These forward looking statements are based on the
information available to, and the expectations and assumptions
deemed reasonable by, Navios Logistics at the time this
press-release was made. Although Navios Logistics believes that the
expectations reflected in such forward-looking statements are
reasonable, no assurance can be given that such expectations will
prove to have been correct. These statements involve known and
unknown risks and are based upon a number of assumptions and
estimates which are inherently subject to significant uncertainties
and contingencies, many of which are beyond the control of Navios
Logistics. Actual results may differ materially from those
expressed or implied by such forward-looking statements. Included
among the factors that, in management’s view, could cause actual
results to differ materially from the forward-looking statements
contained in this report are changes in any of the following: (i)
demand and/or charter and contract rates for our vessels and port
facilities; (ii) production or demand for the types of dry and
liquid products that are transported by our vessels or stored in
our ports; (iii) operating costs including, but not limited to,
changes in crew salaries, insurance, provisions, repairs,
maintenance and overhead expenses; (iv) changes in interest rates;
and other factors listed from time to time in the Navios Logistics’
filings with the Securities and Exchange Commission, including its
Form 20-Fs and Form 6-Ks. Navios Logistics expressly disclaims any
obligations or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in Navios Logistics’ expectations with respect
thereto or any change in events, conditions or circumstances on
which any statement is based.
Contact:
Navios South American Logistics Inc.
+1.212.906.8646
investors@navios-logistics.com
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