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	<title>Marine Money Archives &#187; Navios</title>
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	<link>http://www.marine-money.com</link>
	<description>The Ship Finance Publication Of Record</description>
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		<title>Funding on Call – Navios Acquisition Taps DVB</title>
		<link>http://www.marine-money.com/archive/funding-on-call-%e2%80%93-navios-acquisition-taps-dvb</link>
		<comments>http://www.marine-money.com/archive/funding-on-call-%e2%80%93-navios-acquisition-taps-dvb#comments</comments>
		<pubDate>Thu, 22 Dec 2011 18:59:44 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[The Week in Review]]></category>
		<category><![CDATA[Angeliki Frangou]]></category>
		<category><![CDATA[DVB Bank]]></category>
		<category><![CDATA[Navios]]></category>
		<category><![CDATA[Navios Maritime Acquisition Corporation]]></category>
		<category><![CDATA[Navios Maritime Holdings]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=11477</guid>
		<description><![CDATA[Earlier this month, Navios struck again. Utilizing its financial prowess, the Navios team again accessed the bank market for the funding of two newbuilding LR1 product tankers, under construction at Sungdong Shipbuilding, with delivery in Q4 2012 and Q1 2013. The new term facility for up to $51 million, to be drawn in two advances, was provided by DVB Bank to Navios Maritime Acquisition Corporation.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Navios Family Investor Day</title>
		<link>http://www.marine-money.com/archive/navios-family-investor-day</link>
		<comments>http://www.marine-money.com/archive/navios-family-investor-day#comments</comments>
		<pubDate>Thu, 01 Dec 2011 16:39:11 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Navios]]></category>
		<category><![CDATA[Navios Acquisition]]></category>
		<category><![CDATA[Navios Maritime Holdings]]></category>
		<category><![CDATA[Navios Partners]]></category>
		<category><![CDATA[Ted Petrone]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=11371</guid>
		<description><![CDATA[Four companies represented in 83 slides were on view to a packed room of over 100 investors all interested in hearing the Navios’ story from the management team, which shared the duties. Not only has management got their presentation down to a science, they keep getting better. Clearly, it worked well with the entire presentation completed in just over an hour and with few questions asked at the end.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Busy Week in the Capital Markets</title>
		<link>http://www.marine-money.com/archive/busy-week-in-the-capital-markets</link>
		<comments>http://www.marine-money.com/archive/busy-week-in-the-capital-markets#comments</comments>
		<pubDate>Thu, 31 Mar 2011 14:52:29 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[The Week in Review]]></category>
		<category><![CDATA[BoA Merrill Lynch]]></category>
		<category><![CDATA[Citi]]></category>
		<category><![CDATA[Credit Suisse]]></category>
		<category><![CDATA[Dahlman Rose]]></category>
		<category><![CDATA[Danaos]]></category>
		<category><![CDATA[Deutsche]]></category>
		<category><![CDATA[DnB]]></category>
		<category><![CDATA[DryShips]]></category>
		<category><![CDATA[Evercore]]></category>
		<category><![CDATA[Fredriksen]]></category>
		<category><![CDATA[General Maritime]]></category>
		<category><![CDATA[Golar]]></category>
		<category><![CDATA[Jefferies]]></category>
		<category><![CDATA[Morgan Stanley]]></category>
		<category><![CDATA[Mr. Georgiopoulos]]></category>
		<category><![CDATA[Ms. Frangou]]></category>
		<category><![CDATA[Navios]]></category>
		<category><![CDATA[Nordea]]></category>
		<category><![CDATA[Oak Tree]]></category>
		<category><![CDATA[S. Goldman]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=10220</guid>
		<description><![CDATA[Congratulations to a Whole Host of Principals and Professionals!]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>A Rude Wake-up Call</title>
		<link>http://www.marine-money.com/archive/a-rude-wake-up-call</link>
		<comments>http://www.marine-money.com/archive/a-rude-wake-up-call#comments</comments>
		<pubDate>Sat, 29 Jan 2011 03:47:56 +0000</pubDate>
		<dc:creator>rwong</dc:creator>
				<category><![CDATA[Asia]]></category>
		<category><![CDATA[Daewoo Shipbuilding & Marine Engineering]]></category>
		<category><![CDATA[DnB NOR]]></category>
		<category><![CDATA[DSME]]></category>
		<category><![CDATA[Eagle Bulk Shipping]]></category>
		<category><![CDATA[Frontline]]></category>
		<category><![CDATA[Golden Ocean Group]]></category>
		<category><![CDATA[Hyundai Heavy Industries]]></category>
		<category><![CDATA[Korea Line]]></category>
		<category><![CDATA[Namura Shipbuilding]]></category>
		<category><![CDATA[Navios]]></category>
		<category><![CDATA[STX Offshore and Shipbuilding]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=10043</guid>
		<description><![CDATA[Market hearsays turned into wide-spread panic as news of Korea Line’s bankruptcy filing hit the industry on Tuesday. The South Korea’s second largest bulk carrying line filed for a court receivership after its failure to renegotiate a number of loss-making charter arrangements concluded prior to the financial crisis. Alarm bells were also ringing as far away in the United States where several public listed companies have their ships chartered to the beleaguered company.

Among them, probably the most exposed was New York listed Eagle Bulk Shipping. The company has 13 out of its 48 ships on time charter to Korea Line, lasting between six to ten years. In a statement to the stock exchange, the company described its exposure to Korea Line as modest because the vast majority of the charters were fixed at close to current market rates. “To date, none of our charters with Korea Line have been restructured,” it added. In his latest report, DnB NOR’s analyst Glenn Lodden expects many of these time-charter contracts will be renegotiated and the most expensive might be breached. However, he believes that it is unlikely that Korea Line will be liquidated because the company remains “an important part of South Korean infrastructure (iron ore, coal, LNG imports).” 
]]></description>
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		</item>
		<item>
		<title>The Rich Get Richer – Liquidity Abounds for Some</title>
		<link>http://www.marine-money.com/archive/the-rich-get-richer-%e2%80%93-liquidity-abounds-for-some</link>
		<comments>http://www.marine-money.com/archive/the-rich-get-richer-%e2%80%93-liquidity-abounds-for-some#comments</comments>
		<pubDate>Thu, 11 Nov 2010 18:29:54 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[The Week in Review]]></category>
		<category><![CDATA[Angeliki Frangou]]></category>
		<category><![CDATA[EFG Eurobank Ergasias S.A.]]></category>
		<category><![CDATA[Navios]]></category>
		<category><![CDATA[Navios Maritime Acquisition Corporation]]></category>
		<category><![CDATA[Navios Maritime Holdings Inc.]]></category>
		<category><![CDATA[Ship Finance International]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=9856</guid>
		<description><![CDATA[The following transactions highlight the oft spoken phrase that the banks have money for their core clients, which tend naturally to be large transparent highly capitalized corporates. While we cannot quibble with the rush to safety in an effort to minimize risk, this trend is transforming the nature of the business, which was built on risk taking entrepreneurs, who not only knew ships, but understood and played the markets. By allocating capital accordingly the banks are changing the fundamental nature of the business from entrepreneurial to corporate. We are not sure if this is good or bad; time will tell.]]></description>
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		</item>
		<item>
		<title>No Affiliate Left Behind – Navios Acquisition Prepares</title>
		<link>http://www.marine-money.com/archive/no-affiliate-left-behind-%e2%80%93-navios-acquisition-prepares</link>
		<comments>http://www.marine-money.com/archive/no-affiliate-left-behind-%e2%80%93-navios-acquisition-prepares#comments</comments>
		<pubDate>Thu, 14 Oct 2010 14:10:28 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[The Week in Review]]></category>
		<category><![CDATA[Navios]]></category>
		<category><![CDATA[Navios Maritime Acquisition]]></category>
		<category><![CDATA[Shinyo]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=9754</guid>
		<description><![CDATA[While things are never quiet at Navios in general, the recent activity at Navios Maritime Acquisition may have exceeded Navios’ normal warp speed. The SPAC closed in June and then in July the company acquired Shinyo’s seven VLCCs. After taking them on, they had to be paid for. Warrants were converted and ship mortgage notes are in the process of being sold to repay the assumed bank debt.]]></description>
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		</item>
		<item>
		<title>Navios Navy Adds Battleships</title>
		<link>http://www.marine-money.com/archive/navios-navy-adds-battleships</link>
		<comments>http://www.marine-money.com/archive/navios-navy-adds-battleships#comments</comments>
		<pubDate>Fri, 30 Jul 2010 01:21:57 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[The Week in Review]]></category>
		<category><![CDATA[Angeliki Frangou]]></category>
		<category><![CDATA[Chris Wetherbee]]></category>
		<category><![CDATA[FBR Capital Markets]]></category>
		<category><![CDATA[Fred Cheng]]></category>
		<category><![CDATA[Mintz Levin Cohen Ferris Glovsky and Popeo]]></category>
		<category><![CDATA[Navios]]></category>
		<category><![CDATA[Navios Maritime Acquisition]]></category>
		<category><![CDATA[Navios Maritime Holdings]]></category>
		<category><![CDATA[Shinyo International Group Limited]]></category>
		<category><![CDATA[V&P Law Firm]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=9525</guid>
		<description><![CDATA[Irrepressible, the navy known as Navios last week acquired through its tanker subsidiary, Navios Maritime Acquisition (“Acquisition”), a fleet of seven VLCCs from Fred Cheng’s Shinyo International Group Limited. The aggregate purchase price was $587 million and the acquisition was done as a securities purchase agreement primarily to allow for the assumption of debt. The transaction will be financed with bank debt of $453 million, representing approximately 78% of the purchase price, with cash of $123 million (21%) and through the issuance of $11 million of Acquisition’s shares to the seller. In effect, third parties are funding approximately 80% of the purchase price, a remarkable achievement these days.]]></description>
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		</item>
		<item>
		<title>No Hype. We Delivered!</title>
		<link>http://www.marine-money.com/archive/no-hype-we-delivered</link>
		<comments>http://www.marine-money.com/archive/no-hype-we-delivered#comments</comments>
		<pubDate>Thu, 24 Jun 2010 21:33:08 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Alan Ginsberg]]></category>
		<category><![CDATA[Alan Shaw]]></category>
		<category><![CDATA[Andre Vergottis]]></category>
		<category><![CDATA[B of A Merrill Lynch]]></category>
		<category><![CDATA[Ban Huat Ouah]]></category>
		<category><![CDATA[Blank Rome]]></category>
		<category><![CDATA[BNP Paribas]]></category>
		<category><![CDATA[Brett Esber]]></category>
		<category><![CDATA[Brian Sondey]]></category>
		<category><![CDATA[Buss Group]]></category>
		<category><![CDATA[Citi]]></category>
		<category><![CDATA[Clipper Group]]></category>
		<category><![CDATA[Craig Fuehrer]]></category>
		<category><![CDATA[Dahlman Rose]]></category>
		<category><![CDATA[Dale Ploughman]]></category>
		<category><![CDATA[Dan Rodgers]]></category>
		<category><![CDATA[Danaos]]></category>
		<category><![CDATA[Deutsche Bank]]></category>
		<category><![CDATA[DnB]]></category>
		<category><![CDATA[DryShip]]></category>
		<category><![CDATA[Eagle]]></category>
		<category><![CDATA[Efthymios Bouloutas]]></category>
		<category><![CDATA[Elliot Etheredge]]></category>
		<category><![CDATA[EXCEL]]></category>
		<category><![CDATA[Farlay & Williams]]></category>
		<category><![CDATA[FBR]]></category>
		<category><![CDATA[Felipe Menendez]]></category>
		<category><![CDATA[Fortis Bank Nederland]]></category>
		<category><![CDATA[François Trahan]]></category>
		<category><![CDATA[Frank Jensen]]></category>
		<category><![CDATA[Gerrit Parker]]></category>
		<category><![CDATA[Guillaume Deve]]></category>
		<category><![CDATA[Gust Biesbroeck]]></category>
		<category><![CDATA[Howe Robinson]]></category>
		<category><![CDATA[Ismini Panayotides]]></category>
		<category><![CDATA[Jakob Tolstrup-Moller]]></category>
		<category><![CDATA[James Christodoulou]]></category>
		<category><![CDATA[Johann Killinger]]></category>
		<category><![CDATA[John Coustas]]></category>
		<category><![CDATA[Kristin Holth]]></category>
		<category><![CDATA[Loli Wu]]></category>
		<category><![CDATA[Marfin]]></category>
		<category><![CDATA[Maritime Strategies International]]></category>
		<category><![CDATA[Mark Williams]]></category>
		<category><![CDATA[Michael Bodouroglou]]></category>
		<category><![CDATA[Morten Arntzen]]></category>
		<category><![CDATA[Morten Hay Ingebrigsten]]></category>
		<category><![CDATA[Navios]]></category>
		<category><![CDATA[Newlead]]></category>
		<category><![CDATA[Nigel Thomas]]></category>
		<category><![CDATA[Nordea]]></category>
		<category><![CDATA[NSF]]></category>
		<category><![CDATA[OSG]]></category>
		<category><![CDATA[Pacific Basin]]></category>
		<category><![CDATA[Pankaj Khanna]]></category>
		<category><![CDATA[Paragon]]></category>
		<category><![CDATA[Paul Dowell]]></category>
		<category><![CDATA[Paul Miller]]></category>
		<category><![CDATA[Peter Evensen]]></category>
		<category><![CDATA[Ralf Bedranowsky]]></category>
		<category><![CDATA[Rickmers]]></category>
		<category><![CDATA[Ronny Bjornadal]]></category>
		<category><![CDATA[Sean Durkin]]></category>
		<category><![CDATA[Seanergy]]></category>
		<category><![CDATA[Sheldon Goldman]]></category>
		<category><![CDATA[Simon Rose]]></category>
		<category><![CDATA[TAL International]]></category>
		<category><![CDATA[TCC]]></category>
		<category><![CDATA[Ted Petrone]]></category>
		<category><![CDATA[Teekay]]></category>
		<category><![CDATA[Ultrapetrol]]></category>
		<category><![CDATA[Watson]]></category>
		<category><![CDATA[Wolfe Trahan & Co.]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=9446</guid>
		<description><![CDATA[Our Chairman’s promotions are sheer artistry and we constantly marvel at these masterful gems. Of course, there are issues with punctuation but why let that get in the way of a great pitch. The amazing thing is that despite his protests otherwise, he really does get it. Our problem is that he is rubbing off on us and we are moving from analytical and objective to the dark side where it’s all about the love as both Matt and he are fond of saying. In the case of this year’s Marine Money week, there is no doubt we got it right. The numbers speak for themselves. This year we went out on a limb denoting the theme as the Comeback or Confidence Returns to Ship Finance. Whether or not that was the case and we believe it is, 1,078 registered guest wanted to hear the answer. This was a new record surpassing 2008’s 1042 guests. Uncertainty + optimism trump a boom.]]></description>
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		<item>
		<title>A Wisp of Spring</title>
		<link>http://www.marine-money.com/archive/a-wisp-of-spring</link>
		<comments>http://www.marine-money.com/archive/a-wisp-of-spring#comments</comments>
		<pubDate>Thu, 11 Feb 2010 20:41:55 +0000</pubDate>
		<dc:creator>carisk</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[The Week in Review]]></category>
		<category><![CDATA[AMA]]></category>
		<category><![CDATA[Angeliki Frangou]]></category>
		<category><![CDATA[Arlie Sterling]]></category>
		<category><![CDATA[Colin Manchester]]></category>
		<category><![CDATA[DnB]]></category>
		<category><![CDATA[Eagle Bulk Shipping]]></category>
		<category><![CDATA[Evercore]]></category>
		<category><![CDATA[Giacomo Landi]]></category>
		<category><![CDATA[Hamish Norton]]></category>
		<category><![CDATA[Hans Kjelsrud]]></category>
		<category><![CDATA[Jefferies]]></category>
		<category><![CDATA[Larry Rutkowski]]></category>
		<category><![CDATA[Mark Friedman]]></category>
		<category><![CDATA[Marsoft]]></category>
		<category><![CDATA[Navios]]></category>
		<category><![CDATA[Nikolai Nachamkin]]></category>
		<category><![CDATA[Nordea]]></category>
		<category><![CDATA[Peter Shaerf]]></category>
		<category><![CDATA[RBS]]></category>
		<category><![CDATA[Seward & Kissel]]></category>
		<category><![CDATA[Sophocles Zoullas]]></category>

		<guid isPermaLink="false">http://marine-money.com/?p=8600</guid>
		<description><![CDATA[While sitting home in the midst of a blizzard and with the knowledge that the omniscient Punxatawny Phil announced on Ground Hog Day that we still have 6 more weeks of winter, we know, nonetheless, that spring will inevitably come. Yesterday we attended the morning session of the Hellenic/Norwegian-American Chambers of Commerce 16th Annual Joint Shipping Conference and we felt similarly that the winter of ship finance may also break. While the tone wasn’t exactly upbeat, there certainly were no dirges being sung and it, in fact, appears by their comments that the bankers may be ready and able to return from their year plus long sabbatical. But as Nikolai Nachamkin of DnB and the conference co-chairman would remind me, I am getting off topic.]]></description>
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		<item>
		<title>Taking the Show to Broadway</title>
		<link>http://www.marine-money.com/archive/taking-the-show-to-broadway</link>
		<comments>http://www.marine-money.com/archive/taking-the-show-to-broadway#comments</comments>
		<pubDate>Thu, 03 Dec 2009 16:53:39 +0000</pubDate>
		<dc:creator>carisk</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Bank of America Merrill Lynch]]></category>
		<category><![CDATA[Capital Link]]></category>
		<category><![CDATA[FBR]]></category>
		<category><![CDATA[Mike McClure]]></category>
		<category><![CDATA[Navios]]></category>
		<category><![CDATA[Pareto]]></category>
		<category><![CDATA[Ted Petrone]]></category>

		<guid isPermaLink="false">http://marine-money.com/?p=7698</guid>
		<description><![CDATA[Navios’ stars Ted Petrone and Mike McClure did have Monday off but spent the rest of the week presenting their company at the Pareto, FBR, Bank of America Merrill Lynch and Capital Link conferences. We can now appreciate why you need a management team with a hundred years of experience. Someone has to be minding the store.]]></description>
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