Countdown continues

Navios Maritime Holdings has not abandoned plans to spin-off its South American logistics division at some point in the future but the timing of this pursuit remains unclear.

During the diversified Greek operator’s fourth-quarter conference call management confirmed that Navios South American Logistics still intends to pursue a US listing.

When pressed by Omar Nokta of Clarkson Capital Markets chief executive Angeliki Frangou also pointed out that the company is not, however, in any hurry.

Frangou said timing is dependent on “market conditions” but also hinted that management will be able to act quickly when the opportunity arises.

In an alert issued after the call Nokta argued that Navios Maritime’s 63.8\% stake in its South American affiliate is worth over $365m.

source:www.tradewindsnews.com