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Navios Maritime Midstream forecast for 2015
NAP forecasts revenues of $63.5 million for the 12 months ending September 30, 2015, compared to $63.6 million in the same period in 2014.
Angeliki Frangou, head of Navios Group, expects 2015 to be an uncertain period. Factors include anemic growth in Europe and deflationary fears in Japan.
Navios Maritime Midstream Partners’s cash and equivalents used by September 30, 2014, were $3.1 million compared to $0.5 million in the same period in 2013.
Upon the closing of this offering, NAP will enter into a new credit facility with Credit Suisse AG for up to $126.0 million divided into four tranches.
For the nine-month period ending September 30, 2014, total revenues for NAP were $47.5 million, compared to $47.6 million for the same period in 2013.
The international LPG shipping market is volatile in profitability, charter rates, and vessel values, adversely affecting businesses during downturns.
Navios Midstream intends to make minimum quarterly distributions of $0.4125 per common unit, to the extent it has enough cash from operations.
Navios Maritime Midstream Partners seeks to continue growing and diversifying its fleet of owned and chartered-in vessels though strategic acquisitions.
Following its initial public offering, Navios Maritime Midstream fleet will consist of four modern VLCCs.
Navios Group’s active and extensive involvement in the large tanker market provides it with access to reliable, in-depth, and up-to-date market information.
For the previous fiscal year, the company reported less than $1 billion in revenue, qualifying it as an emerging growth company as defined in the JOBS Act.
Since its listing on November 14, 2014, until January 16, 2015, Navios Maritime Midstream Partners recorded a 4.2% increase in its share price.
In December, China’s power consumption was 511.7 billion kilowatt hours, or kWh. This was an increase of 10.5% from the levels in November.
For 2014, Brazil’s iron ore exports increased 4.4% from the previous year. Iron ore exports reached the highest volume since at least April 2005.
In December 2014, iron ore shipments from Australia’s Port Hedland increased by 7.8% to 29.9 million tonnes of goods—from November’s levels.
For 2014, the total coal imports were 291.22 million tonnes—compared to 327.1 million tonnes in 2013. This was after many years of double-digit growth.
China is the world’s top iron ore and coal consumer. It imports almost 60% of the world’s seaborne iron ore. In 2014, it imported 932.5 million tonnes of iron ore.
The National Bureau of Statistics revealed that the December crude steel output in China increased 7.6% to 68.09 million tonnes. Steel output was up 1.5% YoY.
In December, the dry bulk orderbook declined to 171.3 million deadweight tonnage, or DWT—from 173.7 million DWT recorded in November 2014.
China’s real estate sector accounts for almost 20% of the gross domestic product, or GDP. It plays a major role in the country’s economic activity.