Navios South American Logistics Inc. Inaugurates Iron Ore Transshipment and Storage Facility
MONTEVIDEO, Uruguay, April 03, 2017 (GLOBE NEWSWIRE) -- 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 .
This 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.
Navios South American Logistics Inc.