Cover
Cover - shares | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Entity Addresses [Line Items] | ||
Document Type | 20-F | |
Amendment Flag | false | |
Document Registration Statement | false | |
Document Annual Report | true | |
Document Transition Report | false | |
Document Shell Company Report | false | |
Document Period End Date | Dec. 31, 2021 | |
Document Fiscal Period Focus | FY | |
Document Fiscal Year Focus | 2021 | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 001-33311 | |
Entity Registrant Name | Navios Maritime Holdings Inc. | |
Entity Central Index Key | 0001333172 | |
Entity Incorporation, State or Country Code | 1T | |
Entity Address, Address Line One | Strathvale House, 90 N Church Street | |
Entity Address, City or Town | Grand Cayman | |
Entity Address, Country | KY | |
Entity Address, Postal Zip Code | KY1-1104 | |
Entity Well-known Seasoned Issuer | No | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Emerging Growth Company | false | |
Document Accounting Standard | U.S. GAAP | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 25,198,620 | |
Preferred Stock, Shares Outstanding | 23,032 | 23,032 |
ICFR Auditor Attestation Flag | true | |
Auditor Firm ID | 1387 | |
Auditor Name | PricewaterhouseCoopers S.A. | |
Auditor Location | Athens, Greece | |
Common Stock [Member] | ||
Entity Addresses [Line Items] | ||
Title of 12(b) Security | Common Stock, par value $0.0001 per share | |
Trading Symbol | NM | |
Security Exchange Name | NYSE | |
Series G Preferred Stock [Member] | ||
Entity Addresses [Line Items] | ||
Title of 12(b) Security | American Depositary Shares | |
No Trading Symbol Flag | true | |
Security Exchange Name | NYSE | |
Preferred Stock, Shares Outstanding | 5,350 | 5,350 |
Series H Preferred Stock [Member] | ||
Entity Addresses [Line Items] | ||
Title of 12(b) Security | American Depositary Shares | |
No Trading Symbol Flag | true | |
Security Exchange Name | NYSE | |
Preferred Stock, Shares Outstanding | 17,682 | 17,682 |
Business Contact [Member] | ||
Entity Addresses [Line Items] | ||
Entity Address, Address Line One | One New York Plaza | |
Entity Address, City or Town | New York | |
Entity Address, State or Province | NY | |
Entity Address, Postal Zip Code | 10004 | |
City Area Code | 212 | |
Local Phone Number | 859-8000 | |
Contact Personnel Name | Mark Hayek |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Current assets | ||
Cash and cash equivalents | $ 53,591 | $ 94,881 |
Restricted cash | 84,260 | 16,303 |
Accounts receivable, net | 62,839 | 54,328 |
Due from affiliate companies | 0 | 243 |
Inventories | 11,663 | 14,121 |
Prepaid expenses and other current assets | 17,094 | 14,981 |
Total current assets | 229,447 | 194,857 |
Vessels, port terminals and other fixed assets, net | 950,002 | 1,139,539 |
Deferred dry dock and special survey costs, net | 37,587 | 31,180 |
Investments in affiliate companies | 125,744 | 56,988 |
Other long-term assets | 39,255 | 61,900 |
Operating lease assets | 173,426 | 227,962 |
Intangible assets other than goodwill | 92,981 | 98,563 |
Goodwill | 160,336 | 160,336 |
Total non-current assets | 1,579,331 | 1,776,468 |
Total assets | 1,808,778 | 1,971,325 |
Current liabilities | ||
Accounts payable | 36,622 | 29,185 |
Accrued expenses and other liabilities | 64,459 | 72,535 |
Deferred income and cash received in advance | 8,141 | 8,342 |
Operating lease liabilities, current portion | 54,747 | 81,415 |
Due to affiliate companies | 21,028 | 27,114 |
Current portion of loans payable to affiliate companies | 877 | 26,595 |
Current portion of long-term debt, net | 37,916 | 48,219 |
Current portion of promissory note | 5,000 | 0 |
Current portion of senior and ship mortgage notes, net | 268,658 | 299,377 |
Total current liabilities | 497,448 | 592,782 |
Senior and ship mortgage notes, net of current portion | 833,273 | 964,189 |
Long-term debt, net of current portion | 134,003 | 143,417 |
Long term portion, promissory note | 10,000 | 0 |
Loans payable to affiliate companies, net of current portion | 111,757 | 102,632 |
Other long-term liabilities and deferred income | 927 | 660 |
Operating lease liabilities, net of current portion | 144,239 | 193,351 |
Deferred tax liability | 10,487 | 8,577 |
Total non-current liabilities | 1,244,686 | 1,412,826 |
Total liabilities | 1,742,134 | 2,005,608 |
Commitments and contingencies | 0 | 0 |
Stockholders’ equity | ||
Preferred Stock — $0.0001 par value, authorized 1,000,000 shares, 23,032 issued and outstanding as of December 31, 2021 and 2020. | 0 | 0 |
Common stock — $0.0001 par value, authorized 250,000,000 shares, 25,198,620 and 15,881,147 issued and outstanding as of December 31, 2021 and 2020, respectively. | 2 | 1 |
Additional paid-in capital | 679,301 | 643,033 |
Accumulated deficit | (667,906) | (784,592) |
Total Navios Holdings stockholders’ equity/(deficit) | 11,397 | (141,558) |
Noncontrolling interest | 55,247 | 107,275 |
Total stockholders’ equity/(deficit) | 66,644 | (34,283) |
Total liabilities and stockholders’ equity | $ 1,808,778 | $ 1,971,325 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2021 | Dec. 31, 2020 |
Statement of Financial Position [Abstract] | ||
Preferred stock par value | $ 0.0001 | $ 0.0001 |
Preferred stock shares authorized | 1,000,000 | 1,000,000 |
Preferred stock shares issued | 23,032 | 23,032 |
Preferred stock shares oustanding | 23,032 | 23,032 |
Common stock par value | $ 0.0001 | $ 0.0001 |
Common stock shares authorized | 250,000,000 | 250,000,000 |
Common Stock, Shares, Issued | 25,198,620 | 15,881,147 |
Common stock shares outstanding | 25,198,620 | 15,881,147 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive (Loss)/Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income Statement [Abstract] | |||
Revenue | $ 585,818 | $ 416,718 | $ 482,449 |
Administrative fee revenue from affiliate companies | 0 | 0 | 16,991 |
Time charter, voyage and logistics business expenses | (154,451) | (166,589) | (177,216) |
Direct vessel expenses | (112,350) | (104,755) | (101,467) |
General and administrative expenses incurred on behalf of affiliate companies | 0 | 0 | (16,991) |
General and administrative expenses | (31,327) | (33,702) | (36,194) |
Depreciation and amortization | (61,235) | (71,015) | (81,723) |
Allowance for credit losses | (1,831) | (541) | (999) |
Interest income | 256 | 257 | 10,662 |
Interest expense and finance cost | (145,009) | (136,559) | (133,479) |
Impairment loss/ loss on sale of vessels, net | (47,827) | (88,367) | (156,106) |
Gain on bond and debt extinguishment, net | 951 | 7,047 | 47,430 |
Gain on sale of business | 0 | 0 | 9,802 |
Loss on loss of control | 0 | 0 | (61,741) |
Other income | 4,303 | 6,303 | 44,750 |
Other expense | (9,855) | (8,007) | (15,842) |
Impairment of loan receivable from affiliate company | 0 | (6,050) | 0 |
Income/(loss) before equity in net losses of affiliate companies | 27,443 | (185,260) | (169,674) |
Equity in net earnings/(losses) of affiliate companies | 69,275 | (1,293) | (9,185) |
Income/(loss) before taxes | 96,718 | (186,553) | (178,859) |
Income tax expense | (4,817) | (2,052) | (1,475) |
Net income/(loss) from continuing operations | 91,901 | (188,605) | (180,334) |
Net loss from discontinued operations | 0 | 0 | (4,118) |
Net income/(loss) | 91,901 | (188,605) | (184,452) |
Less: Net loss/(income) attributable to the noncontrolling interest | 24,785 | (4,356) | (7,658) |
Net income/(loss) attributable to Navios Holdings common stockholders | 116,686 | (192,961) | (192,110) |
Income/(loss) attributable to Navios Holdings common stockholders, basic and diluted from continuing operations | 111,559 | (197,939) | (149,490) |
Loss attributable to Navios Holdings common stockholders, basic and diluted from discontinued operations | 0 | 0 | (4,118) |
Income/(loss) attributable to Navios Holdings common stockholders, basic and diluted | $ 111,559 | $ (197,939) | $ (153,608) |
Basic earnings/ (loss) per share attributable to Navios Holdings common stockholders from continuing operations | $ 6.90 | $ (15.35) | $ (12.10) |
Basic and diluted loss per share attributable to Navios Holdings common stockholders from discontinued operations | 0 | 0 | (0.33) |
Basic earnings/ (loss) per share attributable to Navios Holdings common stockholders | $ 6.90 | $ (15.35) | $ (12.43) |
Weighted average number of shares, basic | 16,168,329 | 12,896,568 | 12,356,024 |
Diluted earnings/ (loss) per share attributable to Navios Holdings common stockholders | $ 6.74 | $ (15.35) | $ (12.43) |
Weighted average number of shares, diluted | 16,553,011 | 12,896,568 | 12,356,024 |
Total comprehensive income/(loss) | $ 91,901 | $ (188,605) | $ (184,452) |
Comprehensive loss/(income) attributable to noncontrolling interest | 24,785 | (4,356) | (7,658) |
Total comprehensive income/(loss) attributable to Navios Holdings common stockholders | $ 116,686 | $ (192,961) | $ (192,110) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
OPERATING ACTIVITIES: | |||
Net income/(loss) | $ 91,901 | $ (188,605) | $ (184,452) |
Adjustments to reconcile net income/(loss) to net cash provided by operating activities: | |||
Depreciation and amortization | 61,235 | 71,015 | 104,581 |
Amortization and write-off of deferred financing costs | 8,870 | 7,863 | 8,242 |
Amortization of deferred drydock and special survey costs | 11,084 | 10,255 | 11,714 |
Allowance for credit losses | 1,831 | 541 | 999 |
Stock-based compensation expenses | 589 | 1,268 | 2,885 |
Gain on bond and debt extinguishment, net | (951) | (7,047) | (47,430) |
Income tax expense | 4,817 | 2,052 | 1,475 |
Equity in net (earnings)/losses of affiliate companies, net of dividends received | (68,752) | 2,709 | 13,722 |
Loss on loss of control | 0 | 0 | 61,741 |
Gain on sale of business/assets | 0 | 0 | (9,802) |
Impairment of loan receivable from affiliate company | 0 | 6,050 | 0 |
Impairment loss/ loss on sale of vessels, net | 47,827 | 88,367 | 156,106 |
Changes in operating assets and liabilities: | |||
(Increase)/decrease in accounts receivable | (9,887) | (2,992) | 5,425 |
Decrease /(increase) in inventories | 1,801 | (3,641) | 12,606 |
Decrease/(increase) in prepaid expenses and other assets | 2,155 | (5,505) | (10,753) |
Decrease/(increase) in due from affiliate companies | 667 | 18,895 | (1,029) |
Increase in accounts payable | 7,149 | 7,763 | 47,491 |
(Decrease)/increase in accrued expenses and other liabilities | (11,019) | 18,469 | (15,855) |
Decrease in operating lease liabilities, net | (17,292) | (3,985) | (3,078) |
(Decrease)/increase in due to affiliate companies | (1,138) | 18,626 | (32,081) |
(Decrease)/increase in deferred income and cash received in advance | (200) | 648 | (2,323) |
Increase/(decrease) in other long-term liabilities and deferred income | 267 | (173) | (966) |
Payments for drydock and special survey costs | (21,334) | (17,362) | (23,106) |
Net cash provided by operating activities | 109,620 | 25,211 | 96,112 |
INVESTING ACTIVITIES: | |||
Proceeds from sale of business | 0 | 0 | 3,000 |
Impact to cash from deconsolidation/sale of business | 0 | 0 | (21,439) |
Loan from affiliate companies | 0 | 18,629 | 8,000 |
Dividends received from affiliate companies | 243 | 5,838 | 4,379 |
Deposits for vessels, port terminals and other fixed assets | (19,498) | (5,153) | (4,504) |
Proceeds from lease receivable | 313 | 189 | 150 |
Proceeds from sale of asset | 167,016 | 83,445 | 48,830 |
Acquisition of investments in affiliate companies | 0 | 0 | (8) |
Acquisition of/additions to vessels | (24,950) | (96,969) | (74,294) |
Purchase of property, equipment and other fixed assets | (4,350) | (3,288) | (5,166) |
Deposit for option to acquire vessels | 0 | (2,099) | (15,415) |
Net cash provided by/(used in) investing activities | 118,774 | 592 | (56,467) |
FINANCING ACTIVITIES: | |||
Repurchase of preferred stock | 0 | 0 | (10,228) |
Issuance of capital surplus | 0 | 0 | (3) |
Repayment of loans payable to affiliate companies | (130,743) | (50,000) | (13,420) |
Proceeds from loans payable to affiliate companies | 115,000 | 50,000 | 0 |
Proceeds from long-term debt | 58,000 | 81,625 | 129,022 |
Proceeds from issuance of senior notes, net of deferred financing costs | 0 | 487,504 | 0 |
Repayment of long-term debt and payment of principal | (94,959) | (164,638) | (146,887) |
Repayment/repurchase of senior notes | (168,588) | (384,443) | (68,325) |
Debt issuance costs | (3,874) | (1,138) | (1,851) |
Proceeds from sale of shares, net | 44,437 | 0 | 0 |
Dividends paid to noncontrolling shareholders | 0 | (12,256) | 0 |
Acquisition of noncontrolling interest | (21,000) | 0 | 0 |
Net cash (used in)/provided by financing activities | (201,727) | 6,654 | (111,692) |
Increase/(decrease) in cash and cash equivalents and restricted cash | 26,667 | 32,457 | (72,047) |
Cash and cash equivalents and restricted cash, beginning of year | 111,184 | 78,727 | 150,774 |
Cash and cash equivalents and restricted cash, end of year | 137,851 | 111,184 | 78,727 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION | |||
Cash paid for interest, net of capitalized interest | 141,494 | 110,454 | 135,693 |
Cash paid for income taxes | 260 | 186 | 298 |
Non-cash investing and financing activities | |||
Acquisition of/additions to vessels | 0 | (986) | 0 |
Sale of vessels | 5,766 | 4,378 | 0 |
Proceeds from seller’s credit agreement for the construction of six liquid barges | 2,246 | 11,229 | 0 |
Accrued interest income on loan receivable from affiliate company | 0 | 0 | (2,948) |
Accrued interest expense payable to affiliate company | 0 | 0 | 1,173 |
Issuance of senior secured notes in exchange of preferred stock | 0 | 0 | 8,626 |
Loans payable to affiliate companies | 0 | 0 | 141,795 |
Transfers from other long-term assets assets | 57,107 | 0 | 0 |
Proceeds from the Navios Logistics’ 2020 Fleet | 15,000 | 0 | 0 |
Deposits for vessels, port terminals and other fixed assets | (190) | 0 | 0 |
Promissory note for the acquisition of the noncontrolling interest | 15,000 | 0 | 0 |
Other long-term assets unpaid as of December 31, 2021 | (386) | 0 | 0 |
Discontinued operations | |||
Net cash provided by/(used in) operating activities of discontinued operations | 0 | 0 | 9,728 |
Net cash used in investing activities of discontinued operations | 0 | 0 | (54,808) |
Net cash provided by financing activities of discontinued operations | $ 0 | $ 0 | $ 42,164 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity - USD ($) $ in Thousands | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Comprehensive Income [Member] | Parent [Member] | Noncontrolling Interest [Member] | Total |
Beginning balance, value at Dec. 31, 2018 | $ 0 | $ 1 | $ 686,671 | $ (434,739) | $ 0 | $ 251,933 | $ 269,747 | $ 521,680 |
Beginning balance, shares at Dec. 31, 2018 | 46,302 | 12,843,414 | ||||||
Net income/(loss) | (192,110) | (192,110) | 7,658 | (184,452) | ||||
Tender offer- redemption of preferred stock (Note 17) | $ 0 | $ 0 | (47,788) | 28,933 | 0 | (18,855) | 0 | (18,855) |
Tender offer- redemption of preferred stock (Note 17), shares | (19,771) | |||||||
Conversion of convertible preferred stock to common stock (Note 17), shares converted | (3,289) | |||||||
Conversion of convertible preferred stock to common stock (Note 17), shares issued | 352,770 | |||||||
Issuance of capital surplus | $ 0 | $ 0 | (3) | 0 | 0 | (3) | 0 | (3) |
Issuance of capital surplus, shares | (1,123) | |||||||
Cancellation of shares (Note 17) | 0 | $ 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Cancellation of shares (Note 17), shares | (3,379) | |||||||
Stock-based compensation expenses (Note 17) | 0 | $ 0 | 2,885 | 0 | 0 | 2,885 | 0 | 2,885 |
Stock-based compensation expenses (Note 17), shares | 168,674 | |||||||
Navios Containers deconsolidation | $ 0 | $ 0 | 0 | 0 | 0 | 0 | (162,230) | (162,230) |
Ending balance, shares at Dec. 31, 2019 | 23,242 | 13,360,356 | ||||||
Ending balance, value at Dec. 31, 2019 | $ 0 | $ 1 | 641,765 | (597,916) | 0 | 43,850 | 115,175 | 159,025 |
Net income/(loss) | (192,961) | (192,961) | 4,356 | (188,605) | ||||
Conversion of convertible preferred stock to common stock (Note 17), shares converted | (210) | |||||||
Conversion of convertible preferred stock to common stock (Note 17), shares issued | 22,712 | |||||||
Cancellation of shares (Note 17) | $ 0 | $ 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Cancellation of shares (Note 17), shares | (1,345) | |||||||
Stock-based compensation expenses (Note 17) | 0 | $ 0 | 1,268 | 0 | 0 | 1,268 | 0 | 1,268 |
Stock-based compensation expenses (Note 17), shares | 85,161 | |||||||
Issuance of common stock (Note 17) | 0 | $ 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Issuance of common stock (Note 17), shares | 2,414,263 | |||||||
Other adjustments in accumulated deficit | 0 | $ 0 | 0 | 6,285 | 0 | 6,285 | 0 | 6,285 |
Dividends paid to noncontrolling shareholders | $ 0 | $ 0 | 0 | 0 | 0 | 0 | (12,256) | (12,256) |
Ending balance, shares at Dec. 31, 2020 | 23,032 | 15,881,147 | ||||||
Ending balance, value at Dec. 31, 2020 | $ 0 | $ 1 | 643,033 | (784,592) | 0 | (141,558) | 107,275 | (34,283) |
Net income/(loss) | 116,686 | 116,686 | (24,785) | 91,901 | ||||
Cancellation of shares (Note 17) | 0 | $ 1 | 0 | 0 | 0 | 0 | 0 | 0 |
Cancellation of shares (Note 17), shares | (894) | |||||||
Stock-based compensation expenses (Note 17) | 0 | $ 0 | 589 | 0 | 0 | 589 | 0 | 589 |
Stock-based compensation expenses (Note 17), shares | 16,825 | |||||||
Issuance of common stock (Note 17) | 0 | $ 0 | 0 | 0 | 0 | 1 | 0 | 1 |
Issuance of common stock (Note 17), shares | 9,301,542 | |||||||
Sale of shares (Note 17) | 0 | $ 0 | 44,436 | 0 | 0 | 44,436 | 0 | 44,436 |
Acquisition of Noncontrolling Interest (Note 17) | $ 0 | $ 0 | (8,757) | 0 | 0 | (8,757) | (27,243) | (36,000) |
Ending balance, shares at Dec. 31, 2021 | 23,032 | 25,198,620 | ||||||
Ending balance, value at Dec. 31, 2021 | $ 0 | $ 2 | $ 679,301 | $ (667,906) | $ 0 | $ 11,397 | $ 55,247 | $ 66,644 |
Description of Business
Description of Business | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Description of Business | NOTE 1: DESCRIPTION OF BUSINESS Description of Business Navios Maritime Holdings Inc. (“Navios Holdings” or the “Company”) (NYSE:NM) is a global seaborne shipping and logistics company focused on the transport and transshipment of dry bulk commodities, including iron ore, coal and grain. Navios South American Logistics Inc. Navios South American Logistics Inc. (“Navios Logistics”), a consolidated subsidiary of the Company, was incorporated under the laws of the Republic of the Marshall Islands on December 17, 2007 63.8% Navios Partners Navios Maritime Partners L.P. (“Navios Partners”) (NYSE: NMM On March 31, 2021, Navios Partners completed the acquisition of Navios Maritime Containers L.P. (“Navios Containers”). For more information about the acquisition of Navios Containers, see Note 9 “Investments in Affiliate Companies and Investments in Available-For-Sale Securities” to the consolidated financial statements. On October 15, Navios Partners completed the merger (“NNA Merger”) with Navios Maritime Acquisition Corporation (“Navios Acquisition”). As of December 31, 2021, Navios Holdings had a 10.3% of Navios Holdings. Navios Containers Navios Containers was an international owner and operator of containerships 3.9% Following the of Navios Containers by Navios Partners (“NMCI Merger”), which was completed on March 31, 2021, Navios Containers’ common units were no longer listed for trading on NASDAQ. As of December 31, 2021, Navios Holdings had no equity investment in Navios Containers due to the NMCI Merger. Navios Acquisition Navios Acquisition was an owner and operator of tanker vessels focusing on the transportation of petroleum products (clean and dirty) and bulk liquid chemicals. Following the NNA Merger, which closed on October 15, 2021, Navios Acquisition common shares were no longer listed for trading on NYSE. As of December 31, 2021, Navios Holdings had no Navios Europe I On October 9, 2013, Navios Holdings, Navios Acquisition and Navios Partners established Navios Europe Inc. (“Navios Europe I”) and had economic interests of 47.5% 47.5% 5.0% 50% 50% 0% December 2019 Navios Europe II On February 18, 2015, Navios Holdings, Navios Acquisition and Navios Partners established Navios Europe (II) Inc. (“Navios Europe II”) and had economic interests of 47.5% 47.5% 5.0% 50% 50% 0% 5,000 June 2020 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Summary of Significant Accounting Policies (a) Basis of presentation: U.S. GAAP Going concern The consolidated financial statements have been prepared on a going concern basis. As of December 31, 2021, Navios Holdings’ current assets totaled $ 229,447 442,701 213,254 164,891 7.375% January 2022 105,000 11.25% August 2022 As of December 31, 2021, Navios Holdings had redeemed $ 150,000 four 100,000 20,000 10,000 155,000 As of December 31, 2021, Navios Holdings had repurchased $ 21,356 January 2022 455,566 150,000 105,000 101,750 77,000 In March 2022, Navios Holdings issued a fifth notice of redemption with respect to an aggregate principal amount of $ 25,000 March 30, 2022 130,000 Based on internal forecasts and projections that take into account potential changes in Company’s trading performance and the ability to sell vessels and other assets, management believes that the Company has adequate financial resources to continue in operation and meet its financial commitments, including but not limited to capital expenditures and debt service obligations, for a period of at least twelve months from the date of issuance of the consolidated financial statements. Although internal forecasts and projections, and specifically the estimated daily time charter equivalent for the unfixed days, are driven by market data and are subject to future volatility along with other factors outside the control of the Company, with the existence of alternative liquidity sources and management’s ability to utilize them if needed, management concludes that substantial doubt about the Company’s ability to continue as a going concern has been alleviated as of the date of the issuance of the consolidated financial statements. Change in accounting principles: ASU 2016-02 Leases, ASC 842 On January 1, 2019, the Company adopted the requirements of Accounting Standards Update (“ASU”) 2016-02 “Leases” as amended (Accounting Standards Codification (“ASC”) 842 or the “new lease standard”). ASC 842 increases transparency and comparability among organizations by requiring a lessee to record right-of-use assets and related lease liabilities on its balance sheet when it commences an operating lease. The Company adopted ASC 842 using the modified retrospective transition method. Under this method, the cumulative effect of applying the new lease standard is recorded with no restatement of any comparative prior periods presented. As provided by ASC 842, the Company elected to record the required cumulative effect adjustments to the opening balance sheet in the period of adoption rather than in the earliest comparative period presented. As a result, the adoption of ASC 842 has not had an impact on prior periods reported by the Company. In connection with its adoption of ASC 842, the Company elected the “package of 3” practical expedients permitted under the transition guidance, which allows the Company not to reassess: (i) whether any expired or existing contracts are considered or contain leases; (ii) the lease classification for any expired or existing leases; and (iii) initial direct costs of existing leases. Additionally, the Company elected the practical expedient allowed under the transition guidance of ASC 842 to not separate the lease and non-lease components related to a lease contract and to account for them as a single lease component for the purposes of the recognition and measurement requirements of ASC 842. As required by ASC 842, the Company’s disclosures around its leasing activities have been significantly expanded to enable users of our consolidated financial statements to assess the amount, timing and uncertainty of cash flows arising from lease arrangements. For further information on the Company’s leases, see Note 15 “Leases” to the consolidated financial statements. (b) Principles of consolidation: The Company also consolidates entities that are determined to be variable interest entities (“VIE”) as defined in the accounting guidance, if the Company determines that it is the primary beneficiary of such entity. ASC 810-15-14 outlines the criteria for evaluating whether an entity is a VIE. A VIE is defined as a legal entity where either (i) equity interest holders as a group lack the characteristics of a controlling financial interest, including decision making ability; and an interest in the entity’s residual risks and reward; or (ii) the equity interest holders have not provided sufficient equity investment to permit the entity to finance its activities without additional subordinated financial support; or (iii) the voting rights of some investors are not proportional to their obligations to absorb the expected losses of the entity, their rights to receive the expected residual returns of the entity, or both and substantially all of the entity’s activities either involve or are conducted on behalf of an investor that has disproportionately few voting rights. Subsidiaries: 63.8% Discontinued Operations: Investments in Affiliate Companies: 20 50 Affiliate companies included in the financial statements accounted for under the equity method In the consolidated financial statements of Navios Holdings, the following entities are included as affiliate companies and are accounted for under the equity method for such periods: (i) Navios Partners and its subsidiaries (ownership interest as of December 31, 2021 was 10.3% 6.9% 3.9% 47.5% 47.5% Subsidiaries Included in the Consolidation: Summary of Significant Accounting Policies - Entities included in the consolidation (Table) Ownership Country of Statements of Operations Company Name Nature Interest Incorporation 2021 2020 2019 Navios Maritime Holdings Inc. Holding Company Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Navios South American Logistics Inc. Sub-Holding Company 63.8% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Navios Maritime Containers L.P. Holding Company 3.7% Marshall Is. — 1/1 – 8/29 11/30 - 12/31 Navios Corporation Sub-Holding Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Navios International Inc. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Navimax Corporation Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Navios Handybulk Inc. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Hestia Shipping Ltd. Operating Company 100% Malta 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Anemos Maritime Holdings Inc. Sub-Holding Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Navios Shipmanagement Inc. Management Company 100% Marshall Is. — 1/1 - 8/29 1/1 - 12/31 NAV Holdings Limited Sub-Holding Company 100% Malta 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Kleimar N.V. Operating Company/ Vessel Owning Company/ Management Company 100% Belgium 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Kleimar Ltd. Operating Company 100 Marshall Is. — 1/1 – 8/29 1/1 - 12/31 Bulkinvest S.A. Operating Company 100% Luxembourg 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Primavera Shipping Corporation Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Ginger Services Co. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Aquis Marine Corp. Sub-Holding Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Navios Tankers Management Inc. Management Company 100% Marshall Is. — 1/1 - 8/29 1/1 - 12/31 Astra Maritime Corporation Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Achilles Shipping Corporation Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Apollon Shipping Corporation Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Herakles Shipping Corporation Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Hios Shipping Corporation Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Ionian Shipping Corporation Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Kypros Shipping Corporation Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Meridian Shipping Enterprises Inc. Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Mercator Shipping Corporation Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Arc Shipping Corporation Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Horizon Shipping Enterprises Corporation Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Magellan Shipping Corporation Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Aegean Shipping Corporation Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Star Maritime Enterprises Corporation Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Corsair Shipping Ltd. Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Rowboat Marine Inc. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Rondine Management Corp . Vessel Owning Company 100% Marshall Is. 1/1 - 9/30 3/22 - 12/31 — Vernazza Shiptrade Inc. Operating Company 100% Marshall Is. 1/1 - 12/31 9/25-12/31 — Navios Corporation Management Inc. Operating Company 100% Marshall Is. — 7/4 -8/29 — Beaufiks Shipping Corporation Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Nostos Shipmanagement Corp. Vessel Owning Company 100% Marshall Is. 1/1 - 6/30 1/1 - 12/31 1/1 - 12/31 Portorosa Marine Corp. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Shikhar Ventures S.A. Vessel Owning Company 100% Liberia 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Sizzling Ventures Inc. Operating Company 100% Liberia 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Rheia Associates Co. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Taharqa Spirit Corp. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Rumer Holding Ltd. Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Pharos Navigation S.A. Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Pueblo Holdings Ltd. Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Quena Shipmanagement Inc. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Aramis Navigation Inc. Vessel Owning Company 100% Marshall Is. 1/1 - 7/9 1/1 - 12/31 1/1 - 12/31 White Narcissus Marine S.A. Vessel Owning Company 100% Panama 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Navios GP L.L.C. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Red Rose Shipping Corp. Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Highbird Management Inc. Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Ducale Marine Inc. Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Vector Shipping Corporation Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Faith Marine Ltd. Vessel Owning Company 100% Liberia 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Navios Maritime Finance (US) Inc. Operating Company 100% Delaware 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Navios Maritime Finance II (US) Inc. Operating Company 100% Delaware 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Tulsi Shipmanagement Co. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Cinthara Shipping Ltd. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Rawlin Services Company Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Mauve International S.A. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Serenity Shipping Enterprises Inc. Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Mandora Shipping Ltd Vessel Owning Company 100% Marshall Is. 1/1 - 3/30 1/1 - 12/31 1/1 - 12/31 Solange Shipping Ltd. Vessel Owning Company 100% Marshall Is. 1/1 - 3/30 1/1 - 12/31 1/1 - 12/31 Diesis Ship Management Ltd. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Navios Holdings Europe Finance Inc. Sub-Holding Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Navios Asia LLC Sub-Holding Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Iris Shipping Corporation Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Jasmine Shipping Corporation Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Emery Shipping Corporation Vessel Owning Company 100% Marshall Is. — 1/1 - 09/30 1/1 - 12/31 Lavender Shipping Corporation Vessel Owning Company 100% Marshall Is. 1/1 - 6/30 1/1 - 12/31 1/1 - 12/31 Esmeralda Shipping Corporation Vessel Owning Company 100% Marshall Is. — — 1/1 - 8/30 Triangle Shipping Corporation Vessel Owning Company 100% Marshall Is. — — 1/1 - 8/30 Roselite Shipping Corporation Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Smaltite Shipping Corporation Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Motiva Trading Ltd. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Alpha Merit Corporation Sub-Holding Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Thalassa Marine S.A. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Asteroid Shipping S.A. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/12 - 12/31 Cloud Atlas Marine S.A. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/15 - 12/31 Heodor Shipping Inc. Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 2/13 - 12/31 Navios Maritime Containers GP LLC Operating Company 100% Marshall Is. — 1/1 - 8/29 9/11 - 12/31 Navios Containers Management Inc. Management Company 100% Marshall Is. — 1/1 - 8/29 1/1 - 12/31 Pacifico Navigation Corp. Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 11/7 - 12/31 Rider Shipmanagement Inc. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 12/4 - 12/31 Talia Shiptrade S.A. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 10/11-12/31 Moonstone Shipping Corporation Vessel Owning Company 100 Marshall Is. 6/30 –12/31 — — Opal Shipping Corporation Vessel Owning Company 100% Marshall Is. 6/30 –12/31 — — Grimaud Ventures S.A. Operating Company 100% Marshall Is. 7/30-12/31 — — (c) Use of Estimates: The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. On an ongoing basis, management evaluates the estimates and judgments. Estimates and judgements management evaluates relate to. among other things, uncompleted voyages, future drydock dates, the assessment of other-than-temporary impairment related to the carrying value of investments in affiliate companies, the selection of useful lives for tangible and intangible assets, expected future cash flows from long-lived assets and operating lease assets to support impairment tests, impairment test for goodwill, allowance for credit losses necessary for accounts receivables and demurrages, provisions for legal disputes, pension benefits, contingencies and guarantees. Management bases its estimates and judgments on historical experience and on various other factors that they believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. The spread of the COVID-19 pandemic, which the World Health Organization declared a pandemic in 2020, has caused substantial disruptions in the global economy and the shipping industry, as well as significant volatility in the financial markets, the severity and duration of which remains uncertain. (d) Cash and Cash Equivalents: (e) Restricted Cash: 0 684 10 84,250 15,609 (f) Insurance Claims: (g) Inventories: (h) Dry Bulk Vessels, Port Terminals, Tanker Vessels, Barges, Pushboats and Other Fixed Assets, net: Expenditures for routine maintenance and repairs are expensed as incurred. Depreciation is computed using the straight-line method over the useful life of the vessels, port terminals, tanker vessels, barges, pushboats and other fixed assets, after considering the estimated residual value. Annual depreciation rates used, which approximate the useful life of the assets are: Summary of Significant Accounting Policies - Depreciation Periods (Table) Dry bulk vessels 25 years Port terminals 5 49 years Tanker vessels, barges and pushboats 15 45 years Furniture, fixtures and equipment 3 10 years Computer equipment and software 5 years Leasehold improvements shorter of lease term or 6 years Management estimates the residual values of the Company’s dry bulk vessels based on a scrap value cost of steel times the weight of the ship noted in lightweight tons (“LWT”). Residual values are periodically reviewed and revised to recognize changes in conditions, new regulations or for other reasons. Revisions of residual values affect the depreciable amount of the vessels and the depreciation expense in the period of the revision and future periods. Management estimates the residual values of the Company’s vessels based on a scrap rate of $ 340 Management estimates the useful life of its dry bulk vessels to be 25 years (i) Deposits for Vessels, Port Terminals and Other Fixed Assets: 1,062 986 1,960 Other long-term assets”, (j) Assets Held for Sale: The Company’s policy is to dispose of vessels and other fixed assets when suitable opportunities occur and not necessarily to keep them until the end of their useful life. The Company classifies assets and disposal groups as being held for sale when the following criteria are met: management has committed to a plan to sell the asset (disposal group); the asset (disposal group) is available for immediate sale in its present condition; an active program to locate a buyer and other actions required to complete the plan to sell the asset (disposal group) have been initiated; the sale of the asset (disposal group) is probable, and transfer of the asset (disposal group) is expected to qualify for recognition as a completed sale within one year; the asset (disposal group) is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. Long-lived assets or disposal groups classified as held for sale are measured at the lower of their carrying amount or fair value less cost to sell. These assets are not depreciated once they meet the criteria to be held for sale. No assets were classified as held for sale as of December 31, 2021 and 2020. (k) Impairment of Long Lived Assets: Navios Holdings Navios Holdings determines the fair value of its assets on the basis of management estimates and assumptions by making use of available market data and taking into consideration third party valuations performed on an individual vessel basis. In evaluating useful lives and carrying values of long-lived assets, certain indicators of potential impairment are reviewed, such as undiscounted projected operating cash flows, vessel sales and purchases, business plans and overall market conditions. Undiscounted projected net operating cash flows are determined for each asset group and compared to the carrying value of the vessel, the unamortized portion of deferred drydock and special survey costs, the unamortized portion of ballast water treatment system and the unamortized portion of other capitalized items, if any related to the vessel or the carrying value of deposits for newbuildings. The loss recognized either on impairment (or on disposition) will reflect the excess of carrying value over fair value (selling price) for the vessel asset group. Where the undiscounted projected net operating cash flows for each asset group do not exceed the carrying value of the operating lease asset and the carrying value of deposits for the option to acquire a vessel including expenses and interest, management proceeds to perform step two of the impairment assessment. In step two of the impairment assessment, the Company determines the fair value of its vessels through a combination of a discounted cash flow analysis utilizing market participant assumptions from available market data and third-party valuations performed on an individual vessel basis. As of December 31, 2021, the Company considered various indicators, including but not limited to the market price of its long-lived assets, its contracted revenues and cash flows and the economic outlook, and concluded for the Dry Bulk Vessel Operations that no events and circumstances occurred, which could trigger the existence of potential impairment of the Company’s vessels. As a result, no step one of impairment assessment was performed as of December 31, 2021. During the fourth quarter of fiscal year 2020, management concluded that events occurred, and circumstances had changed, which indicated that potential impairment of the Company’s long-lived assets could exist. These indicators included continued volatility in the spot market, and the related impact of the current dry bulk sector on management’s expectation for future revenues. As a result, an impairment assessment of long-lived assets (step one) was performed. The Company determined undiscounted projected net operating cash flows for each vessel and compared it to the vessel’s carrying value together with the carrying value of deferred drydock and special survey costs, ballast water treatment system costs and other capitalized items, if any, related to the vessel. The significant factors and assumptions used in the undiscounted projected net operating cash flow analysis included: determining the projected net operating cash flows by considering the charter revenues from existing time charters for the fixed fleet days (the Company’s remaining charter agreement rates) and an estimated daily time charter equivalent for the unfixed days (based on a combination of one-year average historical time charter rates and 10-year average historical one-year time charter rates) over the remaining economic life of each vessel, net of brokerage and address commissions excluding days of scheduled off-hires, management fees for vessel operating expenses fixed until 2021 and thereafter assuming an annual increase of 3.0% 99.3% As of December 31, 2020, our assessment concluded that step two of the impairment analysis was required for two of our dry bulk vessels held and used, as the undiscounted projected net operating cash flows did not exceed the carrying value for such vessels. As a result, the Company recorded an impairment loss of $ 52,820 As of December 31, 2019, the Company recorded an impairment loss of $ 84,584 Navios Logistics As of December 31, 2021, management concluded that for the Logistics Business that operates tanker vessels in its cabotage business, certain events and circumstances had changed as of December 31, 2021, indicating a potential impairment of two of the Logistics Business’s tanker vessels. These events and circumstances included the extended period in which its tanker vessels operating in the cabotage business have been without a long term time charter contract. The extended delay is the result of the status of the current tanker market and the vessels’ capacity. Vessels’ capacity appears to be limited to trading in the markets of Argentina and Uruguay. Navios Logistics recorded an impairment loss of $ 21,966 No (l) Deferred Drydock and Special Survey Costs: 30 60 72 96 Costs capitalized as part of the drydocking or special survey consist principally of the actual costs incurred at the yard, and expenses relating to spare parts, paints, lubricants and services incurred solely during the drydocking or special survey period. For each of the years ended December 31, 2021, 2020 and 2019, the amortization of deferred drydock and special survey costs from continuing operations was $ 11,084 10,255 11,067 (m) Deferred Financing Costs: 8,870 7,863 7,746 (n) Goodwill and Other Intangibles (i) Goodwill: The Company evaluates impairment of goodwill using a single step process following the adoption of ASU 2017-04, “Intangibles-Goodwill and Other (Topic 350)” as of January 1, 2020. The aggregate fair value of the reporting unit is compared to its carrying amount, including goodwill. The Company determines the fair value of the reporting unit based on a combination of the income approach (i.e. discounted cash flows) and market approach (i.e. comparative market multiples) and believes that the combination of these two approaches is the best indicator of fair value for its individual reporting units. Goodwill impairment loss is measured as the amount by which a reporting unit’s carrying amount exceeds its fair value, not to exceed the carrying amount of goodwill. As of December 31, 2021, the Company performed its impairments test for its reporting units within the Dry Bulk Vessel Operations and the Logistics Business. The Company additionally considered that its market capitalization continued to remain at a level well below the carrying amount. As of December 31, 2021, the Company performed the impairment test for the Dry Bulk Vessel Operations reporting unit, which, is allocated goodwill of $ 56,240 The fair value of the Dry Bulk Vessel Operations reporting unit was estimated using a combination of income and market approaches. For the income approach, the expected present value of future cash flows used judgments and assumptions that management believes were appropriate in the circumstances. The significant factors and assumptions the Company used in its discounted cash flow analysis included: EBITDA, the discount rate used to calculate the present value of future cash flows and future capital expenditures. EBITDA assumptions included revenue assumptions, general and administrative expense growth assumptions and direct vessel expense growth assumptions. The future cash flows were determined by considering the charter revenues from existing time charters for the fixed fleet days (the Company’s remaining charter agreement rates) and an estimated daily time charter equivalent for the unfixed days (based on a combination of one-year average historical time charter rates and the 10-year average of historical one-year time charter rates). The Company believes this approach to be objective for forecasting charter rates over an extended time period for long-lived assets and consistent with the cyclicality of the industry. In addition, a weighted average cost of capital (“WACC”) was used to discount future estimated cash flows to their present values. The WACC was based on externally observable data considering market participants’ and the Company’s cost of equity and debt, optimal capital structure and risk factors specific to the Company. The market approach estimated the fair value of the Company’s business based on comparable publicly-traded companies in its industry. In assessing the fair value, the Company utilized the results of the valuations and considered the range of fair values determined under all methods which indicated that the fair value exceeded the carrying amount. As of December 31, 2021, the Company performed the impairment test for the Logistics Business, which is allocated goodwill of $ 104,096 No impairment loss was recorded for any of the periods presented for both the Dry Bulk Vessel Operations and the Logistics Business. (ii) Intangibles Other Than Goodwill: straight-line 32 years straight-line 10 years The fair value of customer relationships of Navios Logistics was determined based on the “excess earnings” method, which relies upon the future cash flow generating ability of the asset. Customer relationships are amortized using the straight-line The Company reviews its other intangibles such as trade name, customer relationships, port terminal operating rights, favorable lease terms and unfavorable lease terms periodically for potential impairment whenever events or changes in circumstances indicate that the carrying amount may not be fully recoverable. Intangibles other than goodwill would be considered impaired if their carrying value is not recovered from the future undiscounted cash flows associated with the asset (step one). Measurement of the impairment loss is determined as the difference between the carrying amount and the fair value of the intangible asset. The Company determines the fair value of its intangible assets based on management estimates and assumptions by making use of available market data. In evaluating carrying values of intangible assets, certain indicators of potential impairment are reviewed, such as undiscounted projected operating cash flows, business plans and overall market conditions. When intangible assets or liabilities associated with the acquisition of a vessel are identified, they are recorded at fair value. Fair value is determined by reference to market data and the discounted amount of expected future cash flows. Where charter rates are higher than market charter rates, an asset is recorded, being the difference between the acquired charter rate and the market charter rate for an equivalent vessel. Where charter rates are less than market charter rates, a liability is recorded, being the difference between the assumed charter rate and the market charter rate for an equivalent vessel. The determination of the fair value of acquired assets and assumed liabilities requires the Company to make significant assumptions and estimates of many variables including market charter rates, expected future charter rates, the level of utilization of the Company’s vessels and the Company’s weighted average cost of capital. The use of different assumptions could result in a material change in the fair value of these items, which could have a material impact on the Company’s financial position and results of operations. The amortizable value of favorable and unfavorable leases is amortized over the remaining life of the lease term and the amortization expense is included in the statements of comprehensive income/(loss) under the caption “Depreciation and amortization” in the consolidated financial statements. The amortizable value of favorable leases would be considered impaired if the carrying value of such leases could not be recovered from the future undiscounted cash flows associated with the asset. Vessel purchase options that have not been exercised, which are included in favorable lease terms, would be considered impaired if the carrying value of an option, when added to the option price of the vessel, exceeded the fair value of the vessel. Vessel purchase options that are included in favorable leases are not amortized and when the purchase option is exercised, the asset is capitalized as part of the cost of the vessel and depreciated over the remaining useful life of the vessel and if not exercised, the intangible asset is written off. Vessel purchase options that are included in unfavorable lease terms are not amortized and when the purchase option is exercised by the charterer and the underlying vessel is sold, it will be recorded as part of gain/loss on sale of the assets. If the option is not exercised at the expiration date, it is written-off in the consolidated statements of comprehensive income/(loss). No favorable and unfavorable lease terms have been identified for the years ended December 31, 2021 and 2020. As of December 31, 2021, the Company concluded that no events and circumstances occurred that could trigger the existence of potential impairment of the Navios Holdings trade name, and the Company’s other intangible assets such as port terminal operating rights and customer relationships. As a result, step one of impairment assessment was not required as of December 31, 2021. During the fourth quarter of fiscal year 2020, management concluded that certain events occurred and circumstances had changed indicating a potential impairment of the Navios Holdings trade name. These changes in events and circumstances included continued volatility in the spot market, and the impact of the current dry bulk sector on management’s expectation for future reve |
Sale of Management & Consolidat
Sale of Management & Consolidation/Deconsolidation of Navios Containers | 12 Months Ended |
Dec. 31, 2021 | |
Business Combinations [Abstract] | |
Sale of Management & Consolidation/Deconsolidation of Navios Containers | NOTE 3: SALE OF MANAGEMENT & CONSOLIDATION/DECONSOLIDATION OF NAVIOS CONTAINERS Sale of Management & Consolidation/Deconsolidation of Navios Containers Sale of Management In August 2019, Navios Holdings sold its ship management division, the general partnership interests in Navios Partners (except for the incentive distribution rights) and Navios Containers GP LLC (the “Transaction”) to NSM. NSM is affiliated with the Company’s Chairwoman and Chief Executive Officer, Angeliki Frangou. The Company received aggregate consideration of $ 20,000 As a result of the Transaction the Company is a holding company owning dry bulk vessels and various investments in entities owning maritime and infrastructure assets. NSM owns all entities providing ship management services and employs all associated personnel. NSM owns the general partner interests in Navios Containers and Navios Partners. The Company deconsolidated Navios Containers starting on August 30, 2019. The Company simultaneously entered into a secured credit facility with NSM whereby the Company agreed to repay NSM a loan of $ 141,795 The difference between the carrying value of the identifiable net liabilities sold as of August 30, 2019 and the loan payable to NSM assumed by Navios Holdings, and the sale proceeds, net of expenses, resulted in a gain on sale of $ 9,802 Sale of Management & Consolidation/Deconsolidation of Navios Containers - Gain on Sale (Table) Proceeds received: Cash consideration 3,000 Less: Transaction fees $ (1,088) 1,912 Carrying value of assets and liabilities: Net liabilities derecognized 158,795 Loan payable to NSM assumed (141,795) Book value of general partner interest in Navios Partners (3,212) Book value of Other fixed assets (6,213) Lease liability, net 315 7,890 Gain on sale $ 9,802 Consolidation/ Deconsolidation of Navios Containers Navios Maritime Containers Inc. was incorporated in the Republic of the Marshall Islands on April 28, 2017 and on November 30, 2018, was converted into a limited partnership. In connection with the conversion, Navios Maritime Containers GP LLC, a Republic of the Marshall Islands limited liability company and wholly-owned subsidiary of Navios Holdings, was admitted as Navios Containers’ general partner. As of that date, as a result of holding the general partner interest which had the power to govern the financial and operating policies of Navios Containers, Navios Holdings obtained control over Navios Containers and consequently the results of operations of Navios Containers were consolidated under Navios Holdings. Following the sale of Navios Containers’ general partnership interest effected on August 30, 2019, and the sale of the management division, Navios Holdings deconsolidated Navios Containers starting on August 30, 2019, in accordance with ASC 810. As a result, since August 30, 2019, Navios Containers was not a controlled subsidiary of the Company and the investment in Navios Containers was accounted for under the equity method due to significant influence the Company has over Navios Containers. The difference between the carrying value of Navios Containers’ identifiable net assets and noncontrolling interest derecognized as of August 30, 2019 amounted to $ 57,999 2,527 3,742 1,263,276 2.00 Amounts recorded in respect of discontinued operations in the year ended December 31, 2019 is as follows: Sale of Management & Consolidation/Deconsolidation of Navios Containers - Discontinued Operations (Table) Period from January 1 to August 30, 2019 Revenue $ 89,925 Time charter, voyage and port terminal expenses (3,976) Direct vessel expenses (44,088) General and administrative expenses (6,706) Depreciation and amortization (22,858) Interest expense and finance cost (10,519) Other expense, net (5,896) Net (loss)/income from discontinued operations $ (4,118) Less: Net loss/(income) attributable to the noncontrolling interest $ 3,968 Net (loss)/income attributable to Navios Holdings common stockholders $ (150) |
Cash and Cash Equivalents and R
Cash and Cash Equivalents and Restricted Cash | 12 Months Ended |
Dec. 31, 2021 | |
Cash and Cash Equivalents [Abstract] | |
Cash and Cash Equivalents and Restricted Cash | NOTE 4: CASH AND CASH EQUIVALENTS AND RESTRICTED CASH Cash and Cash Equivalents and Restricted Cash Cash and cash equivalents and restricted cash consisted of the following: Cash and Cash Equivalents and Restricted Cash (Table) December 31, 2021 December 31, 2020 Cash on hand and at banks $ 53,547 $ 94,787 Short-term deposits and highly liquid funds 44 94 Restricted cash 84,260 16,303 Cash and cash equivalents and restricted cash $ 137,851 $ 111,184 Short-term deposits and highly liquid funds relate to amounts held in banks for general financing purposes and represent deposits with an original maturity of less than three months and are included in the consolidated balance sheets under the caption “Cash and cash equivalents”. Cash deposits and cash equivalents in excess of amounts covered by government-provided insurance are exposed to loss in the event of non-performance by financial institutions. Navios Holdings does maintain cash deposits and equivalents in excess of government provided insurance limits. Navios Holdings reduces exposure to credit risk by dealing with a diversified group of major financial institutions. See also Note 2(e) “Summary of Significant Accounting Policies-Restricted Cash” to the consolidated financial statements. |
Accounts Receivable, net
Accounts Receivable, net | 12 Months Ended |
Dec. 31, 2021 | |
Accounts Receivable Net | |
Accounts Receivable, net | NOTE 5: ACCOUNTS RECEIVABLE, NET Accounts Receivable, net Accounts receivable consisted of the following: Accounts Receivable, Net (Table) December 31, 2021 December 31, 2020 Accounts receivable $ 79,935 $ 69,694 Less: Allowance for credit losses (17,096) (15,366) Accounts receivable, net $ 62,839 $ 54,328 Changes to the allowance for credit losses are summarized as follows: Accounts Receivable, Net - Provisions for Doubtful Accounts (Table) Allowance for credit losses Balance at Beginning of Period Charges to Costs and Expenses Amount Utilized Balance at End of Period Year ended December 31, 2019 $ (16,086) $ (999) $ 708 $ (16,377) Year ended December 31, 2020 $ (16,377) $ (541) $ 1,552 $ (15,366) Year ended December 31, 2021 $ (15,366) $ (1,831) $ 101 $ (17,096) Concentration of credit risk with respect to accounts receivable is limited due to the Company’s large number of customers, who are internationally dispersed and have a variety of end markets in which they sell. Due to these factors, management believes that no additional credit risk beyond amounts provided for collection losses is inherent in the Company’s trade receivables. 10.7 16.4 11.2 17.1 14.4 |
Prepaid Expenses and Other Curr
Prepaid Expenses and Other Current Assets | 12 Months Ended |
Dec. 31, 2021 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Prepaid Expenses and Other Current Assets | NOTE 6: PREPAID EXPENSES AND OTHER CURRENT ASSETS Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consisted of the following: Prepaid Expenses and Other Current Assets (Table) December 31, 2021 December 31, 2020 Prepaid voyage and operating costs $ 5,086 $ 4,616 Claims receivable 6,397 4,136 Prepaid other taxes 1,084 2,604 Other 4,527 3,625 Total prepaid expenses and other current assets $ 17,094 $ 14,981 Claims receivable mainly represents claims against vessels’ insurance underwriters in respect of damages arising from accidents or other insured risks, as well as claims under charter contracts including off-hires. While it is anticipated that claims receivable will be recovered within one year, such claims may not all be recovered within one year due to the attendant process of settlement. Nonetheless, amounts are classified as current as they represent amounts currently due to the Company. All amounts are shown net of applicable deductibles. |
Vessels, Port Terminals and Oth
Vessels, Port Terminals and Other Fixed Assets, Net | 12 Months Ended |
Dec. 31, 2021 | |
Property, Plant and Equipment [Abstract] | |
Vessels, Port Terminals and Other Fixed Assets, Net | NOTE 7: VESSELS, PORT TERMINALS AND OTHER FIXED ASSETS, NET Vessels, Port Terminals and Other Fixed Assets, Net Vessels, Port Terminals and Other Fixed Assets (Table) Vessels Cost Accumulated Depreciation Net Book Value Balance December 31, 2018 $ 1,324,766 $ (390,982) $ 933,784 Additions 4,747 (48,812) (44,065) Vessel impairment (274,067) 159,834 (114,233) Disposals (48,830) — (48,830) Vessel acquisition 14,735 (44) 14,691 Balance December 31, 2019 $ 1,021,351 $ (280,004) $ 741,347 Additions 1,277 (36,438) (35,161) Vessel impairment (221,754) 137,255 (84,499) Disposals (87,823) — (87,823) Vessel acquisition 96,678 (2,820) 93,858 Write offs (153) — (153) Balance December 31, 2020 $ 809,576 $ (182,007) $ 627,569 Additions 4,949 (26,770) (21,821) Vessel impairment (89,888) 68,258 (21,630) Vessel Disposals (172,782) — (172,782) Vessel acquisition 16,049 — 16,049 Balance December 31, 2021 $ 567,904 $ (140,519) $ 427,385 Port Terminals (Navios Logistics) Cost Accumulated Depreciation Net Book Value Balance December 31, 2018 $ 253,360 $ (39,775) $ 213,585 Additions 602 (7,186) (6,584) Balance December 31, 2019 $ 253,962 $ (46,961) $ 207,001 Additions 869 (7,216) (6,347) Write offs (87) 76 (11) Balance December 31, 2020 $ 254,744 $ (54,101) $ 200,643 Additions 1,520 (7,629) (6,109) Transfers 5,646 — 5,646 Disposals (130) 169 39 Balance December 31, 2021 $ 261,780 $ (61,561) $ 200,219 Tanker vessels, barges and pushboats (Navios Logistics) Cost Accumulated Depreciation Net Book Value Balance December 31, 2018 $ 525,712 $ (182,584) $ 343,128 Additions 2,403 (19,038) (16,635) Write offs (2,064) 866 (1,198) Balance December 31, 2019 $ 526,051 $ (200,756) $ 325,295 Additions 1,931 (18,278) (16,347) Write offs (308) — (308) Balance December 31, 2020 $ 527,674 $ (219,034) $ 308,640 Additions 2,445 (20,763) (18,318) Impairment losses (27,339) 5,373 (21,966) Transfers 51,461 — 51,461 Balance December 31, 2021 $ 554,241 $ (234,424) $ 319,817 Containerships (Navios Containers) Cost Accumulated Depreciation Net Book Value Balance December 31, 2018 $ 400,896 $ (917) $ 399,979 Additions 1,715 (7,497) (5,782) Vessel acquisition 53,097 (649) 52,448 Navios Containers Deconsolidation (455,708) 9,063 (446,645) Balance December 31, 2019 $ — $ — $ — Other fixed assets Cost Accumulated Depreciation Net Book Value Balance December 31, 2018 $ 19,876 $ (11,897) $ 7,979 Additions 2,161 (1,056) 1,105 Write offs (14,206) 7,993 (6,213) Balance December 31, 2019 $ 7,831 $ (4,960) $ 2,871 Additions 488 (672) (184) Balance December 31, 2020 $ 8,319 $ (5,632) $ 2,687 Additions 385 (491) (106) Balance December 31, 2021 $ 8,704 $ (6,123) $ 2,581 Total Cost Accumulated Depreciation Net Book Value Balance December 31, 2018 $ 2,524,610 $ (626,155) $ 1,898,455 Additions 11,628 (83,589) (71,961) Vessel acquisition 67,832 (693) 67,139 Vessel impairment (274,067) 159,834 (114,233) Vessel disposals (48,830) — (48,830) Write offs (16,270) 8,859 (7,411) Navios Containers Deconsolidation (455,708) 9,063 (446,645) Balance December 31, 2019 $ 1,809,195 $ (532,681) $ 1,276,514 Additions 4,565 (62,604) (58,039) Vessel acquisition 96,678 (2,820) 93,858 Vessel impairment (221,754) 137,255 (84,499) Vessel disposals (87,823) — (87,823) Write offs (548) 76 (472) Balance December 31, 2020 $ 1,600,313 $ (460,774) $ 1,139,539 Additions 9,299 (55,653) (46,354) Vessel acquisition 16,049 — 16,049 Vessel impairment (117,227) 73,631 (43,596) Vessel Disposals (172,782) — (172,782) Disposal (130) 169 39 Transfers from other long-term assets 57,107 — 57,107 Balance December 31, 2021 $ 1,392,629 $ (442,627) $ 950,002 Deposits for Vessels and Port Terminals Acquisitions During the first quarter of 2021, Navios Logistics completed the construction of six liquid barges and transferred a total of $ 19,501 “Vessels, port terminals and other fixed assets, net” in the consolidated statement of financial position 1,062 “Other long-term assets” 16,696 “Other long-term assets” 611 During the first quarter of 2021, Navios Logistics completed the construction of two new tanks in its liquid port terminal and transferred a total of $ 1,843 Vessels, port terminals and other fixed assets, net” 1,285 “Other long-term assets”. As of December 31, 2021 and December 31, 2020, Navios Logistics had paid $ 713 631 “Other long-term assets”. In the fourth quarter of 2020, Navios Logistics entered into a purchase agreement with an unrelated third party for the acquisition of three pushboats and 18 tank barges 30,000 March 22, 2021 As of December 31, 2021, the total amount of 31,960 was transferred to the caption “Vessels, port terminals and other fixed assets, net” from “Other long-term assets” as of December 2020. During the second quarter of 2021, Navios Logistics completed the construction of a crane in its grain port terminal and transferred a total of $ 3,803 Vessels, port terminals and other fixed assets, net” 723 “Other long-term assets” Impairment Loss/ Loss on Sale of Vessels, Net 2021 In July 2021, the Company completed the sale to Navios Partners of the Navios Azimuth, a 2011 Capesize 179,169 30,000 9,104 1,950 In June 2021, the Company completed the sale to Navios Partners of the Navios Ray, a 2012 Capesize 179,515 2009 Capesize 180,022 58,000 8,753 1,775 In June 2021, the Company completed the sale to Navios Partners of the Navios Koyo, a 2011 Capesize 28,500 8,500 12,451 In June 2021, the Company completed the sale to an unrelated third party of the Navios Serenity, a 2011 Handysize 34,690 10,388 6,957 11 In March 2021, the Company completed the sale to Navios Partners of the Navios Centaurus, a 2012 Panamax 81,472 2012 Panamax 81,355 39,250 5,766 13,498 495 Navios Logistics During the fourth quarter of the year ended December 31, 2021, Navios Logistics recorded an impairment loss of $ 21,966 2020 During the fourth quarter of the year ended December 31, 2020, Navios Holdings recorded an impairment loss of $ 52,820 In February 2021, Navios Holdings completed the sale to an unrelated third party of the Navios Astra, a 2006 Ultra Handymax 53,468 6,644 6,288 98 In September 2020, Navios Holdings completed the sale of the Navios Gem, a 2014 Capesize 181,336 2014 Panamax 77,095 51,000 4,378 7,683 1,747 In September 2020, Navios Holdings completed the sale to an unrelated third party of the Navios Amitie, a 2005 Panamax 75,395 6,885 4,478 In August 2020, Navios Holdings completed the sale to an unrelated third party of the Navios Northern Star, a 2005 Panamax 75,395 6,860 4,489 In May 2020, Navios Holdings completed the sale to an unrelated third party of the Navios Star, a 2002 Panamax 76,662 6,450 5,697 258 In February 2020, Navios Holdings completed the sale to unrelated third party of the Navios Kypros, a 2003 Ultra Handymax 55,222 9,131 5,551 404 2019 During the fourth quarter of the year ended December 31, 2019, Navios Holdings recorded an impairment loss of $ 84,584 In January 2020, Navios Holdings completed the sale to an unrelated third party of the Navios Hios, a 2003 Ultra Handymax 55,180 7,497 7,429 611 under the caption “Impairment loss/loss on sale of vessels, net”. In September 2019, Navios Holdings completed the sale to an unrelated third party of the Navios Primavera, a 2007 Ultra Handymax 53,464 9,891 1,673 In August 2019, Navios Holdings completed the sale to an unrelated third party of the Navios Mercator, a 2002 Ultra Handymax 53,553 6,664 4,849 490 In July 2019, Navios Holdings completed the sale to an unrelated third party of the Navios Arc, a 2003 Ultra Handymax 53,514 7,105 5,149 685 In June 2019, Navios Holdings completed the sale to an unrelated third party of the Navios Vector, a 2002 Ultra Handymax 50,296 6,860 10,039 673 In May 2019, Navios Holdings completed the sale to an unrelated third party of the Navios Equator Prosper, a 2000 Capesize 171,191 11,520 1,784 In March 2019, Navios Holdings completed the sale to an unrelated third party of the Navios Meridian, a 2002 Ultra Handymax 50,316 6,790 5,531 778 Vessel Acquisitions 2020 In June 2020, following the liquidation of Navios Europe II, the Company acquired the Jupiter N and the Rainbow N, two 2011 Panamax 93,062 79,642 24,883 In March 2020, the Company acquired from an unrelated third party, a previously charter-in vessel, the Navios Corali, a 2015 Capesize 181,249 36,684 In January 2020, the Company acquired from an unrelated third party, a previously charter-in vessel, the Navios Canary, a 2015 Capesize 180,528 35,111 2019 In August 2019, Navios Holdings acquired from an unrelated third party, a previously charter-in vessel, Navios Victory, a 2014 Panamax 77,095 14,735 Navios Logistics Since 2018, Navios Logistics acquired approximately 6.6 hectares 2.3 additional hectares 1,580 In February 2017, two self-propelled barges of Navios Logistics’ fleet, Formosa and San Lorenzo, were sold for a total amount of $ 1,109 received in installments in the form of lease payments through 2023. The barges may be transferred at the lessee’s option at no cost at the end of the lease period. Navios Containers On April 23, 2019, Navios Containers purchased the Navios Constellation, a 2011 10,000 containership 53,097 |
Intangible Assets other than Go
Intangible Assets other than Goodwill | 12 Months Ended |
Dec. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets other than Goodwill | NOTE 8: INTANGIBLE ASSETS OTHER THAN GOODWILL Intangible Assets other than Goodwill Net Book Value of Intangible Assets other than Goodwill as at December 31, 2021 Intangible Assets other than Goodwill (Table) Acquisition Cost Accumulated Amortization Net Book Value December 31, 2021 Trade name $ 90,000 $ (45,985) $ 44,015 Port terminal operating rights 53,152 (14,833) 38,319 Customer relationships 35,490 (24,843) 10,647 Total Intangible assets $ 178,642 $ (85,661) $ 92,981 Net Book Value of Intangible Assets other than Goodwill as at December 31, 2020 Acquisition Cost Accumulated Amortization Net Book Value December 31, 2020 Trade name $ 90,000 $ (43,175) $ 46,825 Port terminal operating rights 53,152 (13,835) 39,317 Customer relationships 35,490 (23,069) 12,421 Total Intangible assets $ 178,642 $ (80,079) $ 98,563 Amortization expense and write offs for the years ended December 31, 2021, 2020 and 2019 were as follows: Intangible Assets other than Goodwill - Amortization Expense and Write Offs (Table) Amortization Expense and Write Offs Year Ended December 31, 2021 Amortization Expense and Write Offs Year Ended December 31, 2020 Amortization Expense and Write Offs Year Ended December 31, 2019 Trade name $ 2,810 $ 2,818 $ 2,811 Port terminal operating rights 998 998 999 Customer relationships 1,774 1,775 1,774 Total $ 5,582 $ 5,591 $ 5,584 The remaining aggregate amortization of acquired intangibles as of December 31, 2021 was as follows: Intangible Assets other than Goodwill - Amortization Schedule (Table) Description Within one year Year Two Year Three Year Four Year Five Thereafter Total Trade name $ 2,811 $ 2,811 $ 2,811 $ 2,818 $ 2,811 $ 29,953 $ 44,015 Port terminal operating rights 995 995 995 995 995 33,344 38,319 Customer relationships 1,775 1,775 1,775 1,775 1,775 1,772 10,647 Total amortization $ 5,581 $ 5,581 $ 5,581 $ 5,588 $ 5,581 $ 65,069 $ 92,981 |
Investments in Affiliate Compan
Investments in Affiliate Companies and Investments in Available-for-Sale Securities | 12 Months Ended |
Dec. 31, 2021 | |
Investments in and Advances to Affiliates [Abstract] | |
Investments in Affiliate Companies and Investments in Available-for-Sale Securities | NOTE 9: INVESTMENTS IN AFFILIATE COMPANIES AND INVESTMENTS IN AVAILABLE–FOR–SALE SECURITIES Investments in Affiliate Companies and Investments in Available-for-Sale Securities Navios Partners On August 7, 2007, Navios Holdings formed Navios Partners under the laws of the Republic of the Marshall Islands. Navios GP L.L.C., a wholly owned subsidiary of Navios Holdings, was also formed on that date to act as the general partner of Navios Partners and received a 2.0 In January 2019, the Board of Directors of Navios Partners authorized a common unit repurchase program for up to $ 50,000 4,694,279 2 In February 2019, Navios Partners issued 380,952 7,775 2.0 8 On April 25, 2019, Navios Partners announced a 1-for-15 reverse stock split As of December 31, 2020 and following the sale of Navios Partners general partnership interest effected on August 30, 2019, Navios Holdings held a total of 2,070,216 17.9 As of December 31, 2021 and December 31, 2020 Navios Partners has issued 7,687,730 357,508 156,895 7,298 As of December 31, 2021 and following the NMCI Merger (as defined herein), 1,263,276 492,678 4,865,147 620,306 3,183,199 10.3 As of December 31, 2021 and December 31, 2020, the unamortized difference between the carrying amount of the investment in Navios Partners and the amount of the Company’s underlying equity in net assets of Navios Partners was $ 56,351 77,904 As of December 31, 2021 and 2020, the carrying amount of the investment in Navios Partners was $ 125,744 39,133 Total equity method income and amortization of deferred gain of $66,745 5,466 13,526 Dividends received during the years ended December 31, 2021, 2020 and 2019 were $ 519 1,449 2,692 As of December 31, 2021, the market value of the investment in Navios Partners was $ 79,866 Navios Acquisition On August 25, 2021, Navios Partners purchased 44,117,647 8.125 September 25, 2021 On October 15, 2021, Navios Partners completed the NNA Merger. As a result thereof, Navios Acquisition became a wholly-owned subsidiary of Navios Partners. Each outstanding common unit of Navios Acquisition that was held by a unitholder, other than Navios Partners, Navios Acquisition and their respective subsidiaries was converted into the right to receive 0.1275 3,388,226 Upon completion of the NNA Merger, as of October 15, 2021, Navios Holdings derecognized its investment in Navios Acquisition. As of December 31, 2020, Navios Holdings had a 29.5 As of December 31, 2020, the pre-OTTI loss unamortized difference between the carrying amount of the investment in Navios Acquisition and the amount of the Company’s underlying equity in net assets of Navios Acquisition was $ 68,793 As of December 31, 2020, the carrying amount of the investment in Navios Acquisition was $ 15,033 0 13,368 13,543 Total equity method income/(loss) of $ 1,944 13,129 (11,098) Dividends received for each of the years ended December 31, 2021, 2020 and 2019 were $ 243 5,838 4,379 Navios Containers (Consolidated from November 30, 2018 to August 30, 2019) Following the sale of Navios Containers general partnership interest effected on August 30, 2019, referred to in Note 3, Navios Holdings evaluated its investment in the common stock of Navios Containers under ASC 323 and concluded that it had the ability to exercise significant influence over the operating and financial policies of Navios Containers and, therefore, its investment in Navios Containers is accounted for under the equity method, through the NMCI Merger (as defined herein) on March 31, 2021. NMCI Merger: 8,133,452 0.39 12.6 Upon completion of the NMCI Merger, as of March 31, 2021, Navios Holdings derecognized its investment in Navios Containers. As of December 31, 2020, the carrying amount of the investment in Navios Containers was $ 2,812 As of December 31, 2020, Navios Holdings had a 3.9 Total equity method income of $ 595 130 155 Navios Europe I On December 18, 2013, Navios Europe I acquired ten 10,000 24,100 30,000 On an ongoing basis, Navios Europe I was required to distribute cash flows (after payment of operating expenses and amounts due pursuant to the terms of the Senior Loans I) according to a defined waterfall calculation. Navios Holdings had evaluated its investment in Navios Europe I under ASC 810 and had concluded that Navios Europe I was a VIE and that it was not the party most closely associated with Navios Europe I and, accordingly, was not the primary beneficiary of Navios Europe I. Navios Holdings had further evaluated its investment in the common stock of Navios Europe I under ASC 323 and had concluded that it had the ability to exercise significant influence over the operating and financial policies of Navios Europe I and, therefore, its investment in Navios Europe I had been accounted for under the equity method. The initial amount provided for in Navios Europe I of $ 4,750 6,763 As of December 31, 2019, the Company received the outstanding receivable amount from Navios Europe I of $ 13,420 No equity method income was included under the caption “Equity in net losses of affiliate companies” for the years ended December 31, 2021, 2020 and 2019. Navios Europe II On February 18, 2015, Navios Holdings, Navios Acquisition and Navios Partners established Navios Europe II. From June 8, 2015 through December 31, 2015, Navios Europe II acquired 14 14,000 43,500 14,000 5,000 44,300 On an ongoing basis, Navios Europe II was required to distribute cash flows (after payment of operating expenses and amounts due pursuant to the terms of the Senior Loans II) according to a defined waterfall calculation. Navios Holdings had evaluated its investment in Navios Europe II under ASC 810 and had concluded that Navios Europe II was a VIE and that it was not the party most closely associated with Navios Europe II and, accordingly, was not the primary beneficiary of Navios Europe II. Navios Holdings had further evaluated its investment in the common stock of Navios Europe II under ASC 323 and had concluded that it had the ability to exercise significant influence over the operating and financial policies of Navios Europe II and, therefore, its investment in Navios Europe II had been accounted for under the equity method. The initial amount provided for in Navios Europe II of $ 6,650 9,419 As of March 31, 2020, the Company considered the decline in fair value of its investment in Navios Europe II as OTTI and therefore recognized a loss of $ 6,650 As of December 31, 2020, the Company received in cash all balances relating to Navios Europe II following the liquidation of the structure and recognized a loss of $ 6,050 No income was recognized under the caption “Equity in net earnings/(loss) of affiliate companies” for the years ended December 31, and 2020, respectively. 1,775 As of December 31, 2021 and 2020, the carrying amount of the investment in Navios Europe II and the balance of Navios Terms Loans II was $ 0 Following the results of the significance tests performed by the Company, it was concluded that two affiliate companies met the significance threshold requiring summarized financial information of all affiliate companies being presented. Summarized financial information of the affiliate companies is presented below: Investments in Affiliate Companies and Investments in Available-for-Sale Securities - Financial Information of the Affiliate Companies - Balance Sheet (Table) December 31, 2021 December 31, 2020 Balance sheet Navios Navios Navios Navios Navios Navios Cash and cash equivalents, including restricted cash $ 169,446 $ — $ — $ 30,728 $ 41,357 $ 7,573 Current assets $ 226,340 $ — $ — $ 60,780 $ 140,605 $ 16,684 Non-current assets $ 3,396,959 $ — $ — $ 1,146,489 $ 1,428,392 $ 414,106 Current liabilities $ 395,505 $ — $ — $ 253,252 $ 805,860 $ 39,862 Long- term debt including current portion, net $ 1,361,709 $ — $ — $ 486,857 $ 1,076,587 $ 232,159 Non-current liabilities $ 1,458,069 $ — $ — $ 299,187 $ 433,280 $ 199,383 Investments in Affiliate Companies and Investments in Available-for-Sale Securities - Financial Information of Affiliate Companies - Income Statement (Table) Income Statement Navios Partners 01/01/2021-12/31/2021 Navios Acquisition 01/01/2021-10/15/2021 Navios Containers 01/01/2021-03/31/2021 Revenue $ 713,175 $ 188,304 $ 43,763 Net income/(loss) $ 516,186 $ (6,307) $ 15,270 December 31, 2020 Income Statement Navios Partners Navios Acquisition Navios Europe II Navios Containers Revenue $ 226,771 $ 361,438 $ 17,059 $ 127,188 Net (loss)/income $ (68,541) $ 27,465 $ (26,661) $ 3,348 December 31, 2019 Income Statement Navios Partners Navios Acquisition Navios Europe I Navios Europe II Navios Containers Revenue $ 219,379 $ 280,117 $ 36,822 $ 46,718 $ 141,532 Net (loss)/income $ (62,134) $ (65,707) $ (18,575) $ (30,203) $ 7,507 Available-for-sale securities (“AFS Securities”) During the year ended December 31, 2017, the Company received shares of Pan Ocean Co. Ltd (“STX”) as partial compensation for the claims filed under the Korean court for all unpaid amounts in respect of the employment of the Company’s vessels. The shares were recorded at fair value upon their issuance and subsequent changes in market value are recognized within accumulated other comprehensive income/(loss) or since January 1, 2018, when the Company adopted ASU 2016-01, “Financial Instruments – Overall (Subtopic 825-10) – Recognition and Measurement of Financial Assets and Financial Liabilities”, within consolidated statement of comprehensive income/(loss). The shares received from STX were accounted for under the guidance for AFS Securities. The Company has no other types of AFS Securities. As of December 31, 2021 and 2020, the carrying amount of the AFS Securities related to STX was $ 219 222 During the year ended December 31, 2021, the unrealized holding loss related to these AFS Securities included under the caption “Other expense” was $ 3 33 3 |
Accrued Expenses and Other Liab
Accrued Expenses and Other Liabilities | 12 Months Ended |
Dec. 31, 2021 | |
Payables and Accruals [Abstract] | |
Accrued Expenses and Other Liabilities | NOTE 10: ACCRUED EXPENSES AND OTHER LIABILITIES Accrued Expenses and Other Liabilities Accrued expenses and other liabilities as of December 31, 2021 and 2020 consisted of the following: Accrued Expenses and Other Liabilities (Table) December 31, 2021 December 31, 2020 Payroll $ 7,913 $ 6,671 Accrued interest 45,445 55,650 Accrued voyage expenses 1,014 1,344 Audit fees and related services 375 225 Accrued taxes 9,006 7,911 Professional fees 417 470 Other accrued expenses 289 264 Total accrued expenses $ 64,459 $ 72,535 |
Borrowings
Borrowings | 12 Months Ended |
Dec. 31, 2021 | |
Debt Disclosure [Abstract] | |
Borrowings | NOTE 11: BORROWINGS Borrowings Borrowings as of December 31, 2021 and 2020 consisted of the following: Borrowings (Table) Navios Holdings borrowings December 31, 2021 December 31, 2020 Loan Facility HCOB ($15,300) — 9,945 Loan Facility Credit Agricole ($23,000) — 11,100 Loan Facility Credit Agricole ($23,000) — 11,400 Loan Facility DVB Bank SE ($72,000) — 4,504 Loan Facility Alpha Bank ($31,000) — 20,200 Loan Facility Alpha Bank ($16,125) — 12,925 Sale and Leaseback Agreements 114,837 62,934 2022 Senior Secured Notes 155,000 305,000 2022 Notes 455,466 476,822 2024 Notes 8,626 8,626 NSM Loan (incl. accrued interest $306 and $526, respectively) 48,879 78,901 $50.0 million NSM Loan (including accrued interest of $326) — 50,326 $115.0 million NSM Loan (incl. accrued interest $571) 64,630 — Total Navios Holdings borrowings $ 847,438 $ 1,052,683 Navios Logistics borrowings December 31, 2021 December 31, 2020 2025 Logistics Senior Notes 500,000 500,000 Navios Logistics Notes Payable 12,463 17,842 Navios Logistics New BBVA Facility 12,000 22,000 Navios Logistics Alpha Bank Loan 7,700 9,100 Seller’s Credit Agreement for the construction of six liquid barges 11,213 11,047 Seller’s Credit Agreement for the Navios Logistics’ 2020 Fleet 15,000 — Other long-term loans — 46 Total Navios Logistics borrowings $ 558,376 $ 560,035 Total December 31, 2021 December 31, 2020 Total borrowings $ 1,405,814 $ 1,612,718 Less: current portion, net (307,451) (374,191) Less: deferred finance costs and discount, net (19,330) (28,289) Total long-term borrowings $ 1,079,033 $ 1,210,238 Navios Holdings Debt 2022 Senior Secured Notes On November 21, 2017 305,000 11.25 97% The 2022 Senior Secured Notes are secured by a first priority lien on certain capital stock owned by certain of the subsidiary guarantors of Navios Holdings in each of Navios GP L.L.C., Navios Logistics and Navios Partners ollowing the NMCI Merger and NNA Merger The subsidiary guarantees are “full and unconditional”, except that the indenture provides for an individual subsidiary’s guarantee to be automatically released in certain circumstances, such as when a subsidiary is sold or all of the assets of the subsidiary are sold, the capital stock is sold, when the subsidiary is designated as an “unrestricted subsidiary” for purposes of the indenture, upon liquidation or dissolution of the subsidiary or upon legal or covenant defeasance or satisfaction and discharge of the 2022 Senior Secured Notes. The Co-Issuers have the option to redeem the 2022 Senior Secured Notes in whole or in part, at any time at par. Upon occurrence of certain change of control events, the holders of the 2022 Senior Secured Notes may require the Co-Issuers to repurchase some or all of the 2022 Senior Secured Notes at 101% The 2022 Senior Secured Notes contain covenants which, among other things, limit the incurrence of additional indebtedness, issuance of certain preferred stock, the payment of dividends, redemption or repurchase of capital stock or making restricted payments and investments, creation of certain liens, transfer or sale of assets, entering in transactions with affiliate companies, merging or consolidating or selling all or substantially all of the Co-Issuers’ properties and assets and creation or designation of restricted subsidiaries. The indenture governing the 2022 Senior Secured Notes includes customary events of default. The Co-Issuers were in compliance with the covenants as of December 31, 2021. Under the terms of the 2022 Senior Secured Notes, Navios Holdings had an obligation to make a springing maturity offer in September 2021 to repurchase those notes at par unless certain conditions relating to the refinancing of our 2022 Notes were met. On October 1, 2020 to amend the terms of the indenture and related pledge agreements governing the 2022 Senior Secured Notes following its receipt of consents from bondholders representing a majority in aggregate principal amount (the “Consenting Noteholders”) of the 2022 Senior Secured Notes which amendments required consent from 66 2/3% of the outstanding 2022 Senior Secured Notes affected. On November 17, 2020 to further amend the terms of the indenture governing the 2022 Senior Secured Notes, pursuant to which Wilmington Trust, National Association became the successor Trustee and successor Collateral Trustee in respect of the 2022 Senior Secured Notes. On June 29, 2021 100 100.00% July 23, 2021 75,264 The Eighth Supplemental Indenture also, among other things, (i) clarifies that all past dividends paid in respect of equity pledged as collateral for the 2022 Senior Secured Notes and any future dividends paid in respect of equity pledged as collateral (other than equity of Navios Logistics) can be used by the Company for general corporate purposes, absent a Default or Event of Default; (ii) provides that future dividends paid in respect of equity of Navios Logistics pledged as collateral for the 2022 Senior Secured Notes may be used only to redeem or repurchase 2022 Senior Secured Notes; and (iii) permits the lender under the $115.0 million NSM Loan (as defined herein) to take a second lien on the pledged share collateral (which pledged share collateral secures the 2022 Senior Secured Notes on a first lien basis). On September 3, 2021 20,000 100.00% September 13, 2021 On September 14, 2021 20,000 100.00% September 24, 2021 On October 1, 2021 10,000 100.00% October 11, 2021 As of December 31, 2021, the Company wrote off $ 1,777 On March 18, 2022 25,000 100.00% March 30, 2022 After the Fifth Redemption, $ 130,000 August 2022 2022 Notes On November 29, 2013 650,000 of 7.375% First Priority Ship Mortgage Notes due 2022 35,500 17,642 81,235 50,683 47,430 20,782 9,443 11,204 21,356 18,588 2,728 455,466 The 2022 Notes were senior obligations of the Co-Issuers and were originally secured by first priority ship mortgages on 23 dry bulk vessels 14 drybulk vessels 84,260 The outstanding balance of $ 455,466 2024 Notes On March 21, 2019 4,747 9.75% 10,930 On April 21, 2019 3,879 8,841 The 2024 Notes are Navios Holdings’ senior unsecured general obligations and rank senior in right of payment to any of Navios Holding’s existing and future debt that expressly provides that it is subordinated to the 2024 Notes, pari passu in right of payment with all of Navios Holding’s existing and future senior obligations, structurally subordinated in right of payment to the obligations of Navios Holding’s subsidiaries, and effectively subordinated in right of payment to any existing and future obligations of Navios Holdings that are secured by property or assets that do not secure the 2024 Notes, including the 2022 Senior Secured Notes and the 2022 Notes, to the extent of the value of any such property and assets securing such other obligations. The 2024 Notes are not guaranteed by any of Navios Holdings’ subsidiaries. The indenture governing the 2024 Notes does not contain restrictive covenants but does include customary events of default. Navios Holdings has the option to redeem the 2024 Notes, in whole or in part, at any time, at a redemption price equal to 100% Secured Credit Facilities During the year ended December 31, 2021, the Company repaid $ 70,074 11,100 11,400 9,945 4,504 20,200 12,925 As of December 31, 2021, the Company had no secured bank credit facilities following their full repayment. 0 Credit Agricole (formerly Emporiki) Facilities: In August 2011 23,000 in order to partially finance the construction of one Panamax vessel five semi-annual 750 8,850 LIBOR 275 0 In December 2011 23,000 in order to partially finance the construction of one newbuilding bulk carrier three semi-annual 750 9,150 LIBOR 325 0 On February 14, 2018 28,745 in order to: a) repay all amounts outstanding under the facility agreement dated September 2010 and b) repay all amounts outstanding under the facility agreement dated December 20, 2013. LIBOR 280 Hamburg Commercial Bank AG Facility: May 23, 2017 15,300 in order to partially refinance the fourth tranche of the Commerzbank facility. three quarterly 383 8,798 LIBOR 300 0 DVB Bank SE Facilities: March 23, 2012 42,000 two 26,000 in order to finance the acquisition of a Handysize vessel 16,000 to refinance the outstanding debt of an Ultra-Handymax vessel June 27, 2014 30,000 in order to finance the acquisition of a Capesize vessel November 12, 2019 in order to extend the maturity of the outstanding balance originally due in the first and second quarter of 2020 for one year, to June 2021 LIBOR 293 September 2020 33,003 two quarterly 268 3,968 0 In September 2013 40,000 in order to finance the acquisition of four Panamax vessels, delivered in August and September 2013. LIBOR 325 December 2017 in order to extend the maturity of the outstanding balance originally due by September 2018 for three years, to September 2021. two 0 Alpha Bank A.E.: November 6, 2014 31,000 in order to finance part of the acquisition of a Capesize vessel LIBOR 300 eight quarterly 450 16,600 no On November 3, 2016 16,125 in order to refinance one Capesize vessel LIBOR 300 eight quarterly 275 10,725 no Hamburg Commercial Bank AG: December 2021 101,750 for the refinancing of seven drybulk vessels. LIBOR 3.25 4.50 March 2022 10,380 one eight quarterly 3,915 60,027 Credit Agricole CIB/ BNP Paribas December 2021 105,000 for the refinancing of seven drybulk vessels. LIBOR 2.85 3.75 quarterly 6,500 quarterly 4,750 41,000 The loan facility requires compliance with certain covenants, as described below. The facilities are secured by first priority mortgages on certain of Navios Holdings’ vessels and other collateral. The credit facilities contain a number of restrictive covenants that limit Navios Holdings and/or certain of its subsidiaries from, among other things: incurring or guaranteeing indebtedness; entering into affiliate transactions; charging, pledging or encumbering the vessels securing such facilities; changing the flag, class, management or ownership of certain Navios Holdings’ vessels; changing the commercial and technical management of certain Navios Holdings’ vessels; selling or changing the ownership of certain Navios Holdings’ vessels; and subordinating the obligations under the credit facilities to any general and administrative costs relating to the vessels. The credit facilities also require the vessels to comply with the ISM Code and ISPS Code and to maintain valid safety management certificates and documents of compliance at all times. Additionally, the credit facilities require compliance with the covenants contained in the indentures governing the 2022 Senior Secured Notes and the 2024 Notes (as defined herein). Among other events, it will be an event of default under the credit facilities if the Company fails to maintain the financial covenants or if Angeliki Frangou and her affiliate companies own (in aggregate) less than 10% of the outstanding share capital of Navios Holdings. The Company’s secured credit facilities, which were drawn in January 2022, require compliance with maintenance covenants. Depending on the facility, these covenants include: (i) value-to-loan ratio covenants, based on charter-free valuations, ranging from over 125% to 133%, (ii) minimum liquidity up to a maximum of $10,000, (iii) total debt divided by total assets, as defined in each credit facility, of 75%; and (iv) net worth, as defined in the credit facility, of $125,000. NSM Loan On August 29, 2019 141,795 a wholly owned subsidiary of NSM (the “NSM Loan”) December 2021 in order to refinance the outstanding balance of this facility with the NSM Loan I 48,879 306 $50.0 million NSM Loan In June 2020 50,000 to be used for general corporate purposes. $115.0 million NSM Loan In June 2021 115,000 (i) to refinance the $50.0 million NSM Loan, (ii) to redeem certain 2022 Senior Secured Notes and (iii) to be used for general corporate purposes. December 31, 2021 in order to refinance the outstanding balance of this facility through the NSM Loan II 64,630 571 NSM Loan I In December 2021 127,632 two 48,573 79,059 NSM Loan II In December 2021 135,000 available to the Company under a secured term loan two 64,059 70,941 Upon completion of the refinancing in January 2022, NSM received an upfront fee in respect of the NSM Loan I and the NSM Loan II of $24,000 in the form of a convertible debenture. The agreements also provide for prepayment premiums ranging from 5 10 36 Convertible Debenture In December 2021, Navios Holdings entered into a convertible debenture with NSM (the “Convertible Debenture”), covering certain payments under the NSM Loans including the upfront fee of $ 24,000 five years 4 In accordance with the terms of the Convertible Debenture, Navios Holdings issued 1,000 9,133,147 Sale and Leaseback Agreements In the first quarter of 2020 68,000 The Sale and Leaseback Agreements are repayable by 144 monthly 224 238 57,392 fourth quarter of 2031 first quarter of 2032 750 In December 2021 77,000 in order to finance four dry bulk vessels 58,000 Two dry bulk vessels are repayable by 96 481 72 monthly 688 fourth quarter of 2029 fourth quarter of 2027 3,600 3,500 57,445 The fourth sale and leaseback agreement amounting to $ 19,000 January, 2022 84 monthly 643 first quarter of 2029 1,000 In March 2022 to finance one dry bulk vessel. 12,000 60 monthly 521 first quarter of 2027 1,600 The Sale and Leaseback Agreements have no financial covenants. Navios Logistics Debt 2022 Logistics Senior Notes On April 22, 2014 375,000 May 1, 2022 7.25% July 16, 2020 100% 2,661 Navios Logistics Term Loan B Facility On November 3, 2017 100,000 LIBOR 475 1.0% July 8, 2020 1,496 2025 Logistics Senior Notes On July 8, 2020 500,000 487,504 to satisfy and discharge the indenture governing the 2022 Logistics Senior Notes 375,000 97,500 to pay certain fees and expenses related to the offering, with the balance to be used for general corporate purposes. 4,157 ment” for the year ended December 31, 2020, relating to the accelerated amortization of the unamortized deferred finance costs. On or after August 1, 2022, the Logistics Co-Issuers may redeem some or all of the 2025 Logistics Senior Notes at the redemption prices set forth in the indenture governing the 2025 Logistics Senior Notes. In addition, before August 1, 2022, the Logistics Co-Issuers may redeem up to 35% of the aggregate principal amount of the 2025 Logistics Senior Notes at a price equal to 110.750% of the principal amount of the 2025 Logistics Senior Notes to be redeemed plus accrued and unpaid interest, if any, to the redemption date with an amount equal to the net cash proceeds of one or more equity offerings so long as at least 50% of the originally issued aggregate principal amount of the 2025 Logistics Senior Notes remains outstanding. Prior to August 1, 2022, the Logistics Co-Issuers may also redeem all or a part of the 2025 Logistics Senior Notes at a redemption price equal to the sum of: (a) 100% of the principal amount of the 2025 Logistics Senior Notes to be redeemed; plus (b) the applicable “make-whole” premium described in the Indenture governing the 2025 Logistics Senior Notes, plus (c) accrued and unpaid interest, if any, on the 2025 Logistics Senior Notes to be redeemed, to (but excluding) the applicable redemption date, subject to the right of holders of notes on the relevant record date to receive interest due on all the relevant interest payment dates. 100% of the principal amount plus accrued and unpaid interest, if any, upon certain changes in law that would trigger the payment of withholding taxes. Furthermore, upon the occurrence of . The 2025 Logistics Senior Notes are senior secured obligations of the Logistics Co-Issuers and rank equal in right of payment to all of their existing and future senior indebtedness and senior in right of payment to all of their future subordinated indebtedness. The 2025 Logistics Senior Notes are fully and unconditionally guaranteed, jointly and severally, by all of the Navios Logistics’ direct and indirect subsidiaries, other than the Logistics Co-Issuer. The 2025 Logistics Senior Notes are secured by (i) first priority ship mortgages on four tanker vessels servicing the Navios Logistics’ cabotage business (the (1) Elena H, (2) Makenita H, (3) Sara H and (4) He Man H) owned by certain subsidiary guarantors (such guarantors, the “Mortgaged Vessel Guarantors”) and related assignments of earnings and insurance together with a first priority lien on the capital stock of each Mortgaged Vessel Guarantor; and (ii) an assignment by way of security of the Vale port contract (collectively, the “Collateral”). The Logistics Co-Issuers were in compliance with the covenants as of December 31, 2021. As of 31, 2021 and December 31, 2020, deferred financing costs associated with the 2025 Logistics Senior Notes amounted to $ 15,927 19,414 Navios Logistics Notes Payable In connection with the purchase of mechanical equipment for the expansion of its dry port terminal, Corporacion Navios S.A. (“CNSA”) entered into an unsecured export financing line of credit for a total amount of $ 41,964 5,949 16 semi-annual six-month LIBOR 12,463 Navios Logistics New BBVA Facility On February 28, 2020 25,000 July 8, 2020 The Navios Logistics New BBVA Facility was used to repay the then existed debt with the bank, and for general corporate purposes. LIBOR 325 quarterly March 31, 2022 was secured by assignments of certain receivables. 12,000 March 23, 2022 in order to refinance the outstanding balance of Navios Logistics New BBVA Facility through the Navios Logistics 2022 BBVA Facility. Navios Logistics was in compliance with the covenants set forth in the Navios Logistics New BBVA Facility as of December 31, 2021. Navios Logistics Alpha Bank Loan On May 18, 2017 14,000 in order to finance the acquisition of two product tankers LIBOR (90 days) 315 20 quarterly 7,000 December 2021 to amend the Navios Logistics Alpha Bank Loan, extending its maturity and amending the repayment schedule. 7,000 twelve quarterly 2,800 7,700 Navios Logistics was in compliance with the covenants set forth in the Navios Logistics Alpha Bank Loan as of December 31, 2021. Seller’s Credit Agreement for the construction of six liquid barges In December 2020 13,475 for the construction of six liquid barges six 20 quarterly 8.5% had drawn the total available amount and the outstanding balance was $ 11,213 Seller’s Credit Agreement for the Navios Logistics’ 2020 Fleet In the fourth quarter of 2020 for the acquisition of three pushboats and 18 tank barges 15,000 5.0% annual 5,000 15,000 3 Navios Logistics Other long-term loans In connection with the acquisition of Hidronave S.A. on October 29, 2009 817 in order to finance the construction of the pushboat Nazira. 600 monthly 6 Navios Logistics was in compliance with all the covenants set forth in this facility as of December 31, 2021. During the year ended December 31, 2021, the Company in relation to its secured credit facilities paid $189,503 related to scheduled repayment installments and $ 36,199 The annual weighted average interest rates of the Company’s total borrowings were 8.78% 7.89% 7.70% The maturity table below reflects the principal payments for the next five years and thereafter of all borrowings of Navios Holdings (including Navios Logistics) outstanding as of December 31, 2021, based on the repayment schedules of the respective loan facilities and the outstanding amount due under the debt securities. Borrowings - Principal payments (Table) Year 2022 (including total accrued interest of $877 of NSM Loan & $50.0 million NSM Loan) $ 308,912 2023 87,007 2024 211,161 2025 561,120 2026 177,343 2027 and thereafter 60,271 Total $ 1,405,814 |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 12 Months Ended |
Dec. 31, 2021 | |
Fair Value Of Financial Instruments | |
Fair Value of Financial Instruments | NOTE 12: FAIR VALUE OF FINANCIAL INSTRUMENTS Fair Value of Financial Instruments Fair value of financial instruments The Company uses the following methods and assumptions to estimate the fair value of each class of financial instrument: Cash and cash equivalents: Restricted cash: Borrowings: The book value has been adjusted to reflect the net presentation of deferred financing costs. The outstanding balance of the floating Senior Notes, the 2022 Senior Secured Notes and two Navios Logistics’ loans are fixed rate borrowings and their fair value was determined based on quoted market prices. Loans payable to affiliate companies: Investments in available-for-sale securities: The estimated fair values of the Company’s financial instruments were as follows: Fair Value of Financial Instruments - Fair Value (Table) December 31, 2021 December 31, 2020 Book Value Fair Value Book Value Fair Value Cash and cash equivalents $ 53,591 $ 53,591 $ 94,881 $ 94,881 Restricted cash $ 84,260 $ 84,260 $ 16,303 $ 16,303 Investments in available-for-sale-securities $ 219 $ 219 $ 222 $ 222 Senior and ship mortgage notes, net $ (1,101,931) $ (1,142,545) $ (1,263,566) $ (1,054,616) Long-term debt, including current portion $ (171,919) $ (173,213) $ (191,636) $ (193,043) Loans payable to affiliate companies, including current portion $ (112,634) $ (112,634) $ (129,227) $ (129,227) The following table sets forth our assets that are measured at fair value on a recurring basis categorized by fair value hierarchy level. As required by the fair value guidance, assets are categorized in their entirety based on the lowest level of input that is significant to the fair value measurement. Fair Value of Financial Instruments - Fair value measurements on a recurring basis (Table) Fair Value Measurements as of December 31, 2021 Total Quoted Prices in Active Markets for Identical Assets (Level I) Significant Other Observable Inputs (Level II) Significant Unobservable Inputs (Level III) Investments in available-for-sale-securities $ 219 $ 219 $ — $ — Total $ 219 $ 219 $ — $ — Fair Value Measurements as of December 31, 2020 Total Quoted Prices in Active Markets for Identical Assets (Level I) Significant Other Observable Inputs (Level II) Significant Unobservable Inputs (Level III) Investments in available-for-sale-securities $ 222 $ 222 $ — $ — Total $ 222 $ 222 $ — $ — As of December 31, 2021, the Company’s assets measured at fair value on a non-recurring basis were Fair Value of Financial Instruments - Assets measured at Fair Value on a Non-Recurring Basis (Table) Fair Value Measurements as of December 31, 2021 Total Quoted Prices in Active Markets for Identical Assets (Level I) Significant Other Observable Inputs (Level II) Significant Unobservable Inputs (Level III) Vessels, port terminals and other fixed assets, net $ 7,500 $ — $ 7,500 $ — Total $ 7,500 $ — $ 7,500 $ — Navios Logistics recorded an impairment loss of $ 21,966 7,500 As of December , 2020, the Company’s assets measured at fair value on a non-recurring basis were Fair Value Measurements as of December 31, 2020 Total Quoted Prices in Active Markets for Identical Assets (Level I) Significant Other Observable Inputs (Level II) Significant Unobservable Inputs (Level III) Vessels, port terminals and other fixed assets, net $ 38,054 $ 6,644 $ 31,410 $ — Operating lease assets $ 10,018 $ — $ 10,018 $ — Total $ 48,072 $ 6,644 $ 41,428 $ — The Company recorded an impairment loss of $ 59,108 38,054 The Company recorded an impairment loss of $ 1,361 10,018 Fair Value Measurements The estimated fair value of our financial instruments that are not measured at fair value on a recurring basis, categorized based upon the fair value hierarchy, are as follows: Level I: Inputs are unadjusted, quoted prices for identical assets or liabilities in active markets that the Company has the ability to access. Valuation of these items does not entail a significant amount of judgment. Level II: Inputs other than quoted prices included in Level I that are observable for the asset or liability through corroboration with market data at the measurement date. Level III: Inputs that are unobservable. Fair Value of Financial Liabilities - Non-Recurring Measurements (Table) Fair Value Measurements at December 31, 2021 Total (Level I) (Level II) (Level III) Cash and cash equivalents $ 53,591 $ 53,591 $ — $ — Restricted cash $ 84,260 $ 84,260 $ — $ — Investments in available-for-sale-securities $ 219 $ 219 $ — $ — Senior and ship mortgage notes $ (1,142,545) $ (1,133,919) $ (8,626) $ — Long-term debt, including current portion (1) $ (173,213) $ — $ (173,213) $ — Loans payable to affiliate companies, including current portion $ (112,634) $ — $ (112,634) $ — Fair Value Measurements at December 31, 2020 Total (Level I) (Level II) (Level III) Cash and cash equivalents $ 94,881 $ 94,881 $ — $ — Restricted cash $ 16,303 $ 16,303 $ — $ — Investments in available-for-sale-securities $ 222 $ 222 $ — $ — Loan receivable from affiliate companies (2) $ — $ — $ — $ — Long-term receivable from affiliate company $ — $ — $ — $ — Senior and ship mortgage notes $ (1,054,616) $ (1,045,990) $ (8,626) $ — Long-term debt, including current portion (1) $ (193,043) $ — $ (193,043) $ — Loans payable to affiliate companies, including current portion $ (129,227) $ — $ (129,227) $ — Long-term payable to affiliate companies (2) $ — $ — $ — $ — (1) The fair value of the Company’s long-term debt is estimated based on currently available debt with similar contract terms, interest rates and remaining maturities, published quoted market prices as well as taking into account the Company’s creditworthiness. (2) The fair value of the Company’s loan receivable from/payable to affiliate companies and long-term receivable from/payable to affiliate companies is estimated based on currently available debt with similar contract terms, interest rate and remaining maturities as well as taking into account the counterparty’s creditworthiness. |
Employee Benefit Plans
Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2021 | |
Share-based Payment Arrangement [Abstract] | |
Employee Benefit Plans | NOTE 13: EMPLOYEE BENEFIT PLANS Employee Benefit Plans Retirement Saving Plan The Company sponsored an employee saving plan covering all of its employees in the United States. Following the sale of the management division effected on August 30, 2019, outlined in Note 3, these benefits are provided by NSM. The Company’s contributions to the employee saving plan during the years ended December 31, 2019, were approximately $ 73 0 Stock Plan The Company has awarded restricted share units, shares of restricted common stock and restricted stock units to its employees, officers and directors. The restriction lapses in two, three or four equal tranches, over the requisite service periods, of one, two, three and four years from the grant date. The Company has also awarded share appreciation rights and stock options to its officers and directors only, based on service conditions, which vest in three equal tranches over the requisite service periods of one, two and three years from the grant date. Each option expires seven years after its grant date. No stock options were exercised during the years ended December 31, 2021, 2020 and 2019. As of December 31, 2021, 350,000 During the years ended December 31, 2021, 2020 and 2019, the Company did not award any restricted stock, restricted stock units or stock options, which vest upon achievement of certain performance conditions. The weighted average grant date fair value of restricted stock granted during the year ended December 31, 2021 was $ 2.28 No The weighted average grant date fair value of restricted stock granted during the year ended December 31, 2019 was $ 2.84 The effect of compensation expense arising from the stock-based arrangements described above amounted to $ 589 1,268 2,885 The outstanding stock-based awards as of August 30, 2019, date of the sale of the management division, relate to grants to the Company’s officers and directors. The summary of stock-based awards is summarized as follows (in thousands except share and per share data which have been adjusted to reflect the Reverse Stock Split): Employee Benefit Plans (Table) Options Shares Weighted average exercise price Weighted average remaining term Aggregate fair value Outstanding as of December 31, 2018 661,977 28.2 3.36 5,696 Vested at December 31, 2018 116,667 — — — Exercisable at December 31, 2018 116,667 — — — Forfeited or expired (132,209) — — (682) Outstanding as of December 31, 2019 529,768 26.6 2.96 5,014 Vested at December 31, 2019 83,333 — — — Exercisable at December 31, 2019 83,333 — — — Forfeited or expired (67,475) — — (1,199) Outstanding as of December 31, 2020 462,293 17.9 2.25 3,815 Vested at December 31, 2020 — — — — Exercisable at December 31, 2020 — — — — Forfeited or expired (112,293) — — (1,084) Outstanding as of December 31, 2021 350,000 12.0 1.66 2,730 Restricted stock and restricted stock units Non Vested as of December 31, 2018 709,710 $ — 3.11 $ 6,490 Granted 167,515 — — 476 Vested (180,469) — — (1,595) Forfeited or expired (3,367) — — (42) Non Vested as of December 31, 2019 693,389 $ — 2.32 $ 5,329 Granted — — — — Vested (309,664) — — (2,858) Forfeited or expired (1,345) — — (17) Non Vested as of December 31, 2020 382,380 $ — 1.72 2,453 Granted 16,000 — — 36 Vested (226,075) — — (1,816) Forfeited or expired (894) — — (6) Non Vested as of December 31, 2021 171,412 $ — 1.17 667 The estimated compensation cost relating to service conditions of non-vested (i) share appreciation rights and stock options and (ii) restricted share units, restricted stock and restricted stock unit awards, not yet recognized was $ 0 256 2.81 |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | NOTE 14: COMMITMENTS AND CONTINGENCIES Commitments and Contingencies As of December 31, 2021, the Company was contingently liable for letters of guarantee and letters of credit amounting to $ 10 10 In December 2017 ten year bulk carrier 81,789 dwt . On March 30, 2020 5,410 representing a deposit for the option to acquire the vessel, of which $ 2,705 was paid during the year ended December 31, 2019. As of December 31, 2021, the total amount of $ 6,704 , including expenses and interest, is presented under the caption “Other long-term assets”. In January 2018 ten-year bulk carriers 82,036 dwt 81,516 dwt August 28, 2019 November 28, 2019 11,140 8,340 2,800 14,070 In April 2018 ten-year bulk carrier 81,946 dwt January 17, 2020 5,590 2,795 2,795 7,193 In October 2018 ten-year bulk carrier 82,037 dwt May 15, 2020 5,820 2,910 2,910 7,506 Navios Logistics has issued a guarantee and indemnity letter that guarantees the performance by Petrolera San Antonio S.A. (a consolidated subsidiary) of all its obligations to Vitol S.A. up to $ 12,000 On July 22, 2016, Navios Logistics guaranteed the compliance of certain obligations related to Edolmix S.A. and Energías Renovables del Sur S.A. (entities wholly owned by Navios Logistics) under their respective direct user agreements with the Free Zone of Nueva Palmira, for the amounts of $ 847 519 In 2020, Navios Logistics agreed to a settlement regarding a storage and transshipment contract in the grain port terminal for a total amount to be paid to Navios Logistics as a result of the settlement of $ 4,140 three 1,380 4,102 The Company is involved in various disputes and arbitration proceedings arising in the ordinary course of business. Provisions have been recognized in the financial statements for all such proceedings where the Company believes that a liability may be probable, and for which the amounts can be reasonably estimated, based upon facts known on the date the financial statements were prepared. Although the Company cannot predict with certainty the ultimate resolutions of these matters, in the opinion of management, the ultimate disposition of these matters is not expected to have a material adverse effect on the Company’s financial position, results of operations or liquidity. |
Leases
Leases | 12 Months Ended |
Dec. 31, 2021 | |
Leases [Abstract] | |
Leases | NOTE 15: LEASES Leases Time charter out contracts The Company’s contract revenues from time chartering are governed by ASC 842. Upon adoption of ASC 842, the timing and recognition of earnings from the time charter contracts to which the Company is party did not change from previous practice. In a time charter contract, the Company is responsible for all the costs incurred for running the vessel such as crew costs, vessel insurance, repairs and maintenance and lubes. The charterer bears the voyage related costs such as bunker expenses, port charges and canal tolls during the hire period. The Company has determined to recognize lease revenue as a combined single lease component for all time charters (operating leases) as the related lease component and non-lease component will have the same timing and pattern of the revenue recognition of the combined single lease component. The performance obligations in a time charter contract are satisfied over the term of the contract beginning when the vessel is delivered to the charterer until it is redelivered back to the Company. The Company determined that all time charter contracts are considered operating leases and therefore fall under the scope of ASC 842 because: (i) the vessel is an identifiable asset; (ii) the Company does not have substantive substitution rights; and (iii) the charterer has the right to control the use of the vessel during the term of the contract and derives the economic benefits from such use. The transition guidance associated with ASC 842 allows for certain practical expedients to the lessors. The Company elected to not separate the lease and non-lease components included in the time charter revenue because (i) the pattern of revenue recognition for the lease and non-lease components (included in the daily hire rate) is the same. The daily hire rate represents the hire rate for a bare boat charter as well as the compensation for expenses incurred running the vessel such as crewing expense, repairs, insurance, maintenance and lubes. Both the lease and non-lease components are earned by passage of time. As a result of the adoption of these standards, there was no effect on the Company’s opening accumulated deficit, consolidated balance sheets and consolidated statements of comprehensive income/(loss). Time charter-in and bareboat-in contracts As of December 31, 2021, Navios Holdings had time charter-in and bareboat-in contracts whose remaining lease terms ranged from 0.3 8.5 Land lease agreements As of December 31, 2021, Navios Logistics had land lease agreements whose remaining lease terms range from 44.2 44.6 Office lease agreements As of December 31, 2021, Navios Logistics had office lease agreements whose remaining lease terms ranged from 0.5 4.9 ASC 842 requires that the leases be classified as either finance or operating arrangements, with such classification affecting the pattern and classification of expense recognition in an entity’s income statement. For operating leases, ASC 842 requires recognition in an entity’s income statement of a single lease expense, calculated so that the cost of the lease is allocated over the lease term, generally on a straight-line basis. Right-of-use assets represent a right to use an underlying asset for the lease term and the related lease liability represents an obligation to make lease payments pursuant to the contractual terms of the lease agreement. Leases - Operating Lease Assets and Liabilities (Table) Dry Bulk Vessel Operations December 31, 2021 Dry Bulk Vessel Operations December 31, 2020 Logistics Business December 31, 2021 Logistics Business December 31, 2020 Total December 31, 2021 Total December 31, 2020 Operating lease assets Charter-in contracts (1) $ 164,268 $ 219,574 $ — $ — $ 164,268 $ 219,574 Land lease agreements — — 8,077 7,878 8,077 7,878 Office lease agreements — — 1,081 510 1,081 510 Total $ 164,268 $ 219,574 $ 9,158 $ 8,388 $ 173,426 $ 227,962 Operating lease liabilities, current portion Charter-in contracts $ 54,490 $ 81,276 $ — $ — $ 54,490 $ 81,276 Land lease agreements — — (182) (199) (182) (199) Office lease agreements — — 439 338 439 338 Total $ 54,490 $ 81,276 $ 257 $ 139 $ 54,747 $ 81,415 Operating lease liabilities, net of current portion Charter-in contracts $ 135,338 $ 185,092 $ — $ — $ 135,338 $ 185,092 Land lease agreements — — 8,259 8,077 8,259 8,077 Office lease agreements — — 642 182 642 182 Total $ 135,338 $ 185,092 $ 8,901 $ 8,259 $ 144,239 $ 193,351 (1) Based on the net present value of the remaining charter-in and rental payments for existing operating leases. At lease commencement, the Company determines a discount rate to calculate the present value of the lease payments so that it can determine lease classification and measure the lease liability. In determining the discount rate to be used at lease commencement, the Company used its incremental borrowing rate as there was no implicit rate included in charter-in and bareboat-in contracts, land lease and office lease agreements that can be readily determinable. The incremental borrowing rate is the rate that reflects the interest a lessee would have to pay to borrow funds on a collateralized basis over a similar term and in a similar economic environment. The Company then applied the respective incremental borrowing rates to each lease based on the remaining lease term of the specific lease. Navios Holdings’ and Navios Logistics’ incremental borrowing rates upon adoption were 8.25% 7.25% The tables below present the components of the Company’s lease expense for the years ended December 31, 2021, 2020 and 2019: Leases - Lease Expenses (Table) Dry Bulk Vessel Operations Year Ended December 31, 2021 Logistics Business Year Ended December 31, 2021 Total Lease expense for charter-in contracts $ 73,124 $ 5,887 $ 79,011 Lease expense for land lease agreements — 571 571 Lease expense for office lease agreements — 307 307 Total $ 73,124 $ 6,765 $ 79,889 Dry Bulk Vessel Operations Year Ended December 31, 2020 Logistics Business Year Ended December 31, 2020 Total Lease expense for charter-in contracts $ 94,545 $ 6,587 $ 101,132 Lease expense for land lease agreements — 564 564 Lease expense for office lease agreements — 600 600 Total $ 94,545 $ 7,751 $ 102,296 Dry Bulk Vessel Operations Year Ended December 31, 2019 Logistics Business Year Ended December 31, 2019 Total Lease expense for charter-in contracts $ 117,562 $ 3,865 $ 121,427 Lease expense for land lease agreements — 552 552 Lease expense for office lease agreements 1,825 676 2,501 Total $ 119,387 $ 5,093 $ 124,480 Lease expenses for charter-in contracts (including bareboat-in contracts) are included in the consolidated statement of comprehensive income/(loss) under the caption “Time charter, voyage and logistics business expenses”. Lease expenses for land lease agreements and office lease agreements are included in the consolidated statement of comprehensive income/(loss) under the captions “Time charter, voyage and logistics business expenses” and “General and administrative expenses”, respectively. During the year 3,952 12,541 During the year ended December 31, 2021, Navios Holdings recorded no impairment loss of its charter-in vessels. 0 During the years ended December 31, 2020 and 2019, Navios Holdings recorded an impairment loss of $ 1,361 38,636 In 2020, Navios Holdings took delivery of the Navios Felicity I, the Navios Galaxy II and the Navios Magellan II under bareboat-in charters. In October 2021, the Company declared the option to extend the charter-in period for a further one year for the vessel Navios Sky up to June 2023. During the years ended December 31, 2020 and 2019, the Company entered into new lease liabilities amounting to $ 43,516 47,064 The table below provides the total amount of lease payments on an undiscounted basis on our charter-in contracts (including bareboat-in contracts Leases - Total amount of lease payments on an undiscounted basis (Table) Charter-in vessels in operation Land Leases Office space December 31, 2022 $ 68,145 $ 556 $ 514 December 31, 2023 55,103 556 414 December 31, 2024 39,788 556 182 December 31, 2025 19,076 556 60 December 31, 2026 15,142 556 53 December 31, 2027 and thereafter 30,793 21,889 — Total $ 228,047 $ 24,669 $ 1,223 Operating lease liabilities, including current portion $ 189,828 $ 8,077 $ 1,081 Discount based on incremental borrowing rate $ 38,219 $ 16,592 $ 142 As of December 31, 2021, the weighted average remaining lease terms on our charter-in contracts (including bareboat-in contracts), office 4.7 2.7 44.3 As of December 4.9 1.5 45.3 Charter-out vessels, barges and pushboats: The future minimum revenue, net of commissions, (i) for dry bulk vessels, expected to be earned on non-cancelable time charters; and (ii) for the Company’s logistics business, expected to be earned on non-cancelable time charters, COA’s with minimum guaranteed volumes and contracts with minimum guaranteed throughput in Navios Logistics’ ports expected to be earned on non-cancelable time charters, are as follows: Leases - Future Revenue for Chartered-out Vessels, Barges, Pushboats and for Logistics Business (Table) Dry bulk vessels Logistics business 2022 79,330 131,588 2023 — 113,651 2024 — 96,724 2025 — 83,910 2026 — 54,962 2027 and thereafter — 572,033 Total minimum revenue, net of commissions $ 79,330 $ 1,052,868 Revenues |
Transactions with Related Parti
Transactions with Related Parties | 12 Months Ended |
Dec. 31, 2021 | |
Related Party Transactions [Abstract] | |
Transactions with Related Parties | NOTE 16: TRANSACTIONS WITH RELATED PARTIES Transactions with Related Parties Sale of Management: 20,000 3.7 3.8 3% Company 141,795 Office Rent: provided Purchase of Services: 0 76 Vessel Operating Expenses (management fees): the 15,750 149,184 Following the sale of the provides commercial and technical management services to Navios Holdings’ vessels. The term of this agreement is for an initial period of five years with an automatic extension period of five years thereafter unless a 3.7 3% 3.8 0.03 August 29, 2024 Total management fees for vessel operating expenses for the years ended December 31, 2021 and 2020 and for the period from August 30, 2019 to December 31, 2019 amounted to $ 37,813 , $ 45,487 and $ 14,372 , respectively, and are presented under the caption “Direct vessel expenses”. Navios Partners Guarantee: April 2021 5,000 General and Administrative Expenses incurred on behalf of affiliate companies/Administrative fee revenue from affiliate companies: 16,991 Navios Holdings provided administrative services to Navios Logistics. In April 2016, Navios Holdings extended the duration of its existing administrative services agreement with Navios Logistics until December 2021, pursuant to its existing terms. Navios Holdings was reimbursed for reasonable costs and expenses incurred in connection with the provision of these services. Following the sale of the management division effected on August 30, 2019, outlined in Note 3, these services are provided by the Manager. Total general and administrative fees for the period from January 1, 2019 to August 30, 2019 amounted to $ 763 1,144 1,144 381 Following the sale of the management division effected on August 30, 2019, outlined in Note 3 and pursuant to the Administrative Services Agreement, the Manager provides administrative services to Navios Holdings. The Manager is reimbursed for reasonable costs and expenses incurred in connection with the provision of these services. The term of this agreement is for an initial period of five years automatic five years 8,572 9,371 2,952 Balance due to/from affiliate companies (excluding Navios Europe I and Navios Europe II): 21,028 22,114 0 December 5,000 related to the Navios Partners Guarantee 0 243 As of December 31, 2021 the balance mainly consisted of management fees for vessel operating expenses, payments to the Manager in accordance with the Omnibus Agreements: Partners Navios Holdings entered into an omnibus agreement with Navios Acquisition and Navios Partners (the “Acquisition Omnibus Agreement”) in connection and Navios Partners, a right of first offer on any proposed sale, transfer or other disposition of any of its dry bulk carriers and related charters owned or acquired by Navios Acquisition. Likewise, Navios Holdings and Navios Partners agreed to grant a similar right of first offer to Navios Acquisition for any liquid shipment vessels it might own. These rights of first offer will not apply to a (i) sale, transfer or other disposition of vessels between any affiliated subsidiaries, or pursuant to the terms of any charter or other agreement with a counterparty, or (ii) merger with or into, or sale of substantially all of the assets to, an unaffiliated third party. Navios Holdings entered into Navios Holdings entered into an omnibus agreement with Navios Containers, Navios Acquisition, and Navios Partners, pursuant to which Navios Acquisition Midstream General Partner Option Agreement: Navios Holdings entered into an option agreement, with Navios Acquisition under which Navios Acquisition, which owns and controls Navios Maritime Midstream Partners GP LLC (“Midstream General Partner”), granted Navios Holdings the option to acquire a minimum of 25% of the outstanding membership interests in Midstream General Partner and the incentive distribution rights in Navios Midstream representing the right to receive an increasing percentage of the quarterly distributions when certain conditions are met. The option shall expire on November 18, 2024. The purchase price for the acquisition for all or part of the option interest shall be an amount equal to its fair market value. As of December 31, 2021, Navios Holdings had not exercised any part of that option Sale of Vessels and Sale of Rights to Navios Partners: interest 6,285 0 0 1,842 In March 2021, Navios Holdings completed the sale to Navios Partners of the Navios Centaurus, a 2012 Panamax 81,472 2012 Panamax 81,355 39,250 2012 Capesize 179,515 2009 Capesize 180,022 58,000 2011 Capesize 28,500 2011 Capesize 179,169 30,000 In September 2020 2014 Capesize 181,336 2014 Panamax 77,095 51,000 4,378 Participation in Offerings of Affiliate Companies: 20.0% 1,754,981 Balance due from Navios Europe I: Following 0 13,420 The Navios Revolving Loans I and the Navios Term Loans I earned interest and an annual preferred return, respectively, at 1,270 annum Balance due from Navios Europe II: 43,500 14,000 On April 21, 2020, Navios 5,000 On May 14, 2020, an agreement was reached to liquidate Navios Europe II before its original expiration date. The transaction was completed on June 29, 2020. As a result of this liquidation, Navios Holdings received the total outstanding balance due from Navios Europe II, representing the Navios Revolving Loans II, the Navios Term Loans II and accrued interest thereof directly owed to Navios Holdings, previously presented under the captions “Due from affiliate companies” and “Loans receivable from affiliate companies” and acquired two Panamax vessels of Navios Europe II (see Note 5 “Accounts Receivable, net” to the consolidated financial statements). Following the Liquidation of Navios Europe II, the balance due from Navios Europe II as of December 31, 2020 was $ 0 Holdings’ 20,712 13,154 7,558 16,938 The Navios Revolving Loans II and the Navios Term Loans II earned interest and an annual preferred return, respectively, at 1,800 basis points per annum, on a quarterly compounding basis and were repaid from free cash flow (as defined in the loan agreement) to the fullest extent possible at the end of each quarter. There were no covenant requirements or stated maturity dates. 1.8 The decline in the fair value of the investment during the first quarter of 2020 was considered as other-than-temporary and, therefore, a loss of $ 6,050 Secured credit facility with Navios Logistics (Grimaud Loan) On April 25, 2019 50,000 to be used for general corporate purposes, including the repurchase of 2022 Notes This credit facility was secured by any 2022 Notes purchased by Navios Holdings with these funds. 500 12.75% 14.75% 20,000 10.0% December 2024 On June 24, 2020, Navios Logistics assigned its legal and beneficial right, title and interest in the credit facility to its wholly owned subsidiary Grimaud Ventures S.A. (“Grimaud”). On June 25, 2020, Navios Holdings and Grimaud amended the Grimaud Loan to allow a portion of the total interest payable to be effected in common shares of Navios Holdings. On July 10, 2020, Navios Holdings issued 2,414,263 2,308 Effective as of May 2021, and upon 13.0% On June 30, 2021 7,500 On July 13, 2021, the Grimaud Loan plus accrued interest was repaid by the Company in full through the issuance of 9,301,542 7,500 As of December 31, 2021, the total amount of this facility was repaid in full, as described above. NSM Loan: August 29, 2019 141,795 47,000 quarterly 5.0% 7.0% In December 31, 2021 the Company entered into an amended and restated secured loan agreement with NSM in order to refinance the outstanding balance of this facility through the NSM Loan I (as defined herein). As of December 31, 2021, the outstanding balance was $ 48,573 78,375 306 526 306 10,328 Please see below for discussion on refinancing completed during January 2022. The Company’s obligations under the NSM Loan were guaranteed by 2,072,121 common units in Navios Partners, first priority share pledges on two companies, that have entered into sale and leaseback agreements and five companies that hold the rights to certain bareboat contracts $50.0 million NSM Loan: June 2020 50,000 to be used for general corporate purposes. 18 quarterly 5.0% 7.0% The Company’s obligations under the $50.0 million NSM Loan were guaranteed by first priority security interests in a vessel, as well as pledge of certain First Priority Ship Mortgage 40,587 On July 12, 2021, the Company refinanced the total outstanding balance of $ 39,735 $115.0 million NSM Loan: June 2021 115,000 39,736 70,000 14 quarterly 2,838 November 30, 2024 seven quarterly 22,632 6,000 February 28, 2023 Both tranches bear interest at a rate of 10.5% quarterly 90 days 12.0% On July 12, 2021, the amount under this facility was fully drawn. In December 31, 2021 the Company entered into an amended and restated secured loan agreement with NSM in order to refinance the outstanding balance of this facility through the NSM Loan I (as defined herein). As of December 31, 2021, the outstanding balance was $ 64,059 571 571 875 The Company’s obligations under the $115.0 million NSM Loan were guaranteed by first priority security interests in a vessel, as well as pledge of certain First Priority Ship Mortgage Notes due 2022 owned by Navios Holdings and 40,587 common units in Navios Partners and a second priority pledge in the Navios Logistics’ shares, 1,070,491 NSM Loan I: December 2021 127,632 two 48,573 79,059 quarterly 5,000 18% 16.5% 13.5% 79,059 The Company’s obligations under the NSM Loan I are guaranteed by 2,072,121 NSM Loan II: 135,000 quarterly 5,000 18% 16.5% 13.5% 70,941 Upon completion of the refinancing in January 2022, NSM received an upfront fee in respect of the NSM Loan I and the NSM Loan II of $24,000 in the form of a Convertible Debenture. The agreements also provide for prepayment premiums ranging from 5 10 36 The Company’s obligations under the NSM Loan II are guaranteed by 40,587 1,070,491 Convertible Debenture: 24 In accordance with the terms of the Convertible Debenture, Navios Holdings issued 1,000 9,133,147 Navios Logistics’ Shareholders Agreement: Promissory note: 20,000 four semi-annual |
Preferred and Common Stock
Preferred and Common Stock | 12 Months Ended |
Dec. 31, 2021 | |
Equity [Abstract] | |
Preferred and Common Stock | NOTE 17: PREFERRED AND COMMON STOCK Preferred and Common Stock Reverse Stock Split On December 21, 2018, the Company’s common stockholders approved a one-for-ten reverse stock split of the Company’s outstanding shares of common stock (the “Reverse Stock Split”). The Reverse Stock Split was effective since January 3, 2019 and the common stock commenced trading on that date on a split-adjusted basis. As a result of the Reverse Stock Split, every ten shares of issued and outstanding common stock were combined into one issued and outstanding share of common stock, without any change in authorized shares or the par value per share. All issued 128,434,137 12,843,414 120,386,472 12,038,647 0.0001 Vested, Surrendered and Forfeited During 2021, 825 the During 2020, 825 84,336 issued During 2019, 825 334 During the years ended December 31, 2021, 2020 and 2019, 894 1,345 3,379 Conversion of Preferred Stock During the year ended December 31, 2021, there were no conversions of preferred stock. 0 During the year ended December 31, 2020, 210 22,712 1,712 171 1,712 6 During the year ended December 31, 2019, 3,289 352,770 23,870 10,000 10 1,980 1,471 14,711 75 1,309 916 9,159 41 Issuance of Cumulative Perpetual Preferred Stock The Company’s 2,000,000 4,800,000 2,500 25 8.75% 8.625% Series G and Series H American Depositary Shares Exchange Offer On December 21, 2018, Navios Holdings announced that it commenced an offer to exchange cash and/or newly issued 2024 Notes for approximately 66 2/3% of each of the outstanding Series As of March 21, 2019, a total of 10,930 26,297 997 offer 4,188 4,747 16,365 7,678 As of April 18, 2019, a total of 8,841 21,271 620 4,423 3,879 12,568 6,798 In February 2016, Navios Holdings announced the suspension of payment of quarterly dividends on its preferred stock, including the Series G and Series H. On July 15, 2017, the Company reached six quarterly dividend payments in arrears relating to its Series G and Series H and as a result the respective dividend rate increased by 0.25% Total undeclared preferred dividends as of December 31, 2021 and 2020 were $ 30,348 25,222 Issuances to Employees, Officers and Directors On December 15, 2021, pursuant to the stock plan approved by the Board of the Directors, 40,000 On December 21, 2020, pursuant to the stock plan approved by the Board of the Directors, 16,000 On December 18, 2019, pursuant to the stock plan approved by the Board of Directors, 16,000 On February 1, 2019, pursuant to the stock plan approved by the Board of Directors, 151,515 During the years ended December 31, 2021 and 2020, no stock option was granted to Navios Holdings’ employees, officers and directors. Dividends from Navios Logistics—Acquisition of noncontrolling interest On July 30, 2021, Navios Logistics declared and paid a pro rata dividend to the holders of its common equity in shares of Grimaud. All transactions were eliminated on consolidated level as of that date. Immediately thereafter, Grimaud agreed to redeem the equity interests held by its non-controlling shareholder in full at fair market value, which was payable through $ 16,000 20,000 21,000 15,000 20,000 27,243 8,757 On July 10, 2020, Navios Logistics declared and paid a $ 6,381 2,414,263 2,308 On February 21, 2020, Navios Logistics’ board of directors declared and paid a $ 27,500 17,552 9,948 Sale of Navios Holdings shares of common stock On July 13, 2021, the Company issued 9,301,542 9,301,542 44,437 176 Acquisition of Treasury Stock In November 2015, the Board of Directors approved a share repurchase program for up to $ 25,000 94,858 818 114,791 1,070 Navios Holdings had outstanding as of December 31, 2021, 25,198,620 2,414,263 15,881,147 2,414,263 23,032 5,350 17,682 23,242 5,350 17,682 |
Interest Expense and Finance Co
Interest Expense and Finance Cost | 12 Months Ended |
Dec. 31, 2021 | |
Interest Expense And Finance Cost | |
Interest Expense and Finance Cost | NOTE 18: INTEREST EXPENSE AND FINANCE COST Interest Expense and Finance Cost Interest expense and finance cost consisted of the following: Interest Expense and Finance Cost (Table) For the Year Ended December 31, 2021 For the Year Ended December 31, 2020 For the Year Ended December 31, 2019 Interest expense $ 136,055 $ 128,696 $ 125,496 Amortization and write-off of deferred financing costs 8,870 7,863 7,746 Other 84 — 237 Interest expense and financing cost $ 145,009 $ 136,559 $ 133,479 |
Segment Information
Segment Information | 12 Months Ended |
Dec. 31, 2021 | |
Segment Reporting [Abstract] | |
Segment Information | NOTE 19: SEGMENT INFORMATION Segment Information The Company currently has two reportable segments from which it derives its revenues: Dry Bulk Vessel Operations and Logistics. The reportable segments reflect the internal organization of the Company and are strategic businesses that offer different products and services. The Dry Bulk Vessel Operations consists of the transportation and handling of bulk cargoes through the ownership, operation, and trading of vessels. The Logistics Business consists of operating ports and transfer station terminals, handling of vessels, barges and pushboats as well as upriver transport facilities in the Hidrovia region. The Company measures segment performance based on net income/(loss) attributable to Navios Holdings common stockholders. Inter-segment sales and transfers are not significant and have been eliminated and are not included in the following tables. Summarized financial information concerning each of the Company’s reportable segments is as follows: Segment Information (Table) Dry Bulk Vessel Operations for the Year Ended December 31, 2021 Logistics Business for the Year Ended December 31, 2021 Total for the Year Ended December 31, 2021 Revenue $ 362,343 $ 223,475 $ 585,818 Interest income 26 230 256 Interest expense and finance cost (1) (80,450) (64,559) (145,009) Depreciation and amortization (29,582) (31,653) (61,235) Equity in net earnings of affiliate companies 69,275 — 69,275 Net income attributable to Navios Holdings common stockholders 140,651 (2) (23,965) (3) 116,686 Total assets 1,200,255 608,523 1,808,778 Goodwill 56,240 104,096 160,336 Capital expenditures (24,950) (23,848) (48,798) Investment in affiliate companies 125,744 — 125,744 Cash and cash equivalents 21,011 32,580 53,591 Restricted cash 84,260 — 84,260 Long-term debt, net (including current and noncurrent portion) $ 844,134 $ 542,350 $ 1,386,484 (1) Interest expense and finance cost for the year ended December 31, 2021 excludes $4,404 relating to the intercompany interest of the Grimaud loan, which is eliminated upon consolidation. (2) The Dry Bulk Vessel Operations net income is adjusted to exclude the mark to market loss of $2,559 for the year ended December 31, 2021, following the repayment of the Grimaud loan in Shares which is eliminated upon consolidation. (3) The Logistics Business net income is adjusted for the items referred in footnote (1) above as well as the mark to market loss of $24,169 recognized in Navios Logistics statement of income for the year ended December 31, 2021, following the repayment of the Grimaud loan and the s ale of the Shares which is eliminated upon consolidation. Dry Bulk Vessel Operations for the Year Ended December 31, 2020 Logistics Business for the Year Ended December 31, 2020 Total for the Year Ended December 31, 2020 Revenue $ 200,794 $ 215,924 $ 416,718 Interest income 48 209 257 Interest expense and financing cost (88,237 ) (48,322) (136,559) Depreciation and amortization (42,076) (28,939) (71,015) Equity in net losses of affiliate companies (1,293) — (1,293) Net (loss)/ income attributable to Navios Holdings common stockholders (192,207) (754) (192,961) Total assets 1,316,936 654,389 1,971,325 Goodwill 56,240 104,096 160,336 Capital expenditures (99,068) (8,441) (107,509) Investment in affiliate companies 56,988 — 56,988 Cash and cash equivalents 20,011 74,870 94,881 Restricted cash 16,303 — 16,303 Long-term debt, net (including current and noncurrent portion) $ 1,043,839 $ 540,590 $ 1,584,429 Dry Bulk Vessel Operations for the Year Ended December 31, 2019 Logistics Business for the Year Ended December 31, 2019 Total for the Year Ended December 31, 2019 Revenue $ 254,178 $ 228,271 $ 482,449 Administrative fee revenue from affiliate companies 16,991 — 16,991 Interest income 9,610 1,052 10,662 Interest expense and financing cost (92,948) (40,531) (133,479) Depreciation and amortization (52,288) (29,435) (81,723) Equity in net losses of affiliate companies (9,185) — (9,185) Net (loss)/ income attributable to Navios Holdings common stockholders (209,096) 16,986 (192,110) Total assets 1,511,517 631,338 2,142,855 Goodwill 56,240 104,096 160,336 Capital expenditures (36,628) (7,943) (44,571) Investment in affiliate companies 64,352 — 64,352 Cash and cash equivalents 32,386 45,605 77,991 Restricted cash 736 — 736 Long-term debt, net (including current and noncurrent portion) $ 1,048,318 $ 514,929 $ 1,563,247 The following table sets out the Company’s revenue by geographic region. Dry Bulk Vessel Operations (excluding administrative fee revenue from affiliate companies) and Logistics Business revenue are allocated on the basis of the geographic region in which the customer is located. Dry bulk vessels and containership vessels operate worldwide. Logistics Business operates different types of tanker vessels, pushboats, and wet and dry barges for delivering a wide range of products between ports in the Paraná, Paraguay and Uruguay River systems in South America (commonly known as the “Hidrovia” or the “waterway”). Revenues from specific geographic regions which contribute over 10% of revenue are disclosed separately. Revenue by Geographic Region Segment Information - Revenue by Geographic Region (Table) Year ended December 31, 2021 Year ended December 31, 2020 Year ended December 31, 2019 North America $ — $ — $ 2,259 Australia 11,905 2,055 — Europe 184,786 132,582 179,009 Asia 155,123 63,610 67,468 South America 234,004 218,442 232,394 Other — 28 1,319 Total $ 585,818 $ 416,718 $ 482,449 Vessels operate on a worldwide basis and are not restricted to specific locations. Accordingly, it is not possible to allocate the assets of these operations to specific countries. The total net book value of long-lived assets for dry bulk vessels amounted to $ 427,385 627,569 520,036 509,283 4,046 |
Earnings_(Loss) per Common Shar
Earnings/(Loss) per Common Share | 12 Months Ended |
Dec. 31, 2021 | |
Earnings Per Share [Abstract] | |
Earnings/(Loss) per Common Share | NOTE 20: EARNINGS/(LOSS) PER COMMON SHARE Earnings/(Loss) per Common Share Earnings/(Loss) per share is calculated by dividing net income/(loss) attributable to Navios Holdings common stockholders by the weighted average number of shares of Navios Holdings outstanding during the periods presented. Net income/(loss) attributable to Navios Holdings common stockholders is calculated by adding to (if a discount) or deducting from (if a premium) net income/(loss) attributable to Navios Holdings common stockholders the difference between the fair value of the consideration paid upon redemption and the carrying value of the preferred stock, including the unamortized issuance costs of the preferred stock, and the amount of any undeclared dividend cancelled. For the year ended December 31, 2021, 384,682 0 For the year ended December 31, 2020, 569,998 1,549 For the year ended December 31, 2019, 843,097 227,496 On December 21, 2018 the Company’s common stockholders approved a one-for-ten reverse stock split Earnings/(Loss) per Common Share - Earnings/(Loss) per share, basic and diluted (Table) Year ended December 31, 2021 Year ended December 31, 2020 Year ended December 31, 2019 Numerator: Net income/(loss) attributable to Navios Holdings common stockholders $ 116,686 $ (192,961) $ (192,110) Less: Undeclared dividend on preferred stock and on unvested restricted shares (5,127) (5,144) (7,178) Plus: Tender Offer — Redemption of preferred stock Series G and H including $16,863 of undeclared preferred dividend cancelled — — 45,680 Gain from eliminated dividend on preferred stock due to conversion — 166 — Income/(Loss) attributable to Navios Holdings common stockholders, basic and diluted $ 111,559 $ (197,939) $ (153,608) Denominator: Denominator for basic earnings/ (loss) per share attributable to Navios Holdings common stockholders — weighted average shares 16,168,329 12,896,568 12,356,024 Basic earnings/ (loss) per share attributable to Navios Holdings commonstockholders $ 6.90 $ (15.35) $ (12.43) Denominator for diluted earnings/ (loss) per share attributable to Navios Holdings common stockholders — weighted average shares 16,553,011 12,896,568 12,356,024 Diluted earnings/ (loss) per share attributable to Navios Holdings common stockholders 6.74 $ (15.35) $ (12.43) |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | NOTE 21: INCOME TAXES Income Taxes The Republic of the Marshall Islands, Liberia, Panama and Malta do not impose a tax on international shipping income. Under the laws of the Republic of the Marshall Islands, Malta, Liberia and Panama, the countries of incorporation of the Company and its subsidiaries and the vessels’ registration, the companies are subject to registration and tonnage taxes in the accompanying consolidated statements of comprehensive income/(loss). In accordance with the currently applicable Greek law, ship owning companies of foreign-flagged vessels that are managed by Greek or foreign ship management companies having established an office/branch in Greece on the basis of the applicable licensing regime are subject to tax liability towards the Greek state which is calculated on the basis of the relevant vessel’s tonnage. . A tax credit is recognized for tonnage tax (or similar tax) paid abroad, up to the amount of the tax due in Greece. The owner, the manager and the bareboat charterer or the financial lessee (where applicable) are liable to pay the tax due to the Greek state. The payment of said tax exhausts the tax liability of the foreign ship owning company the bareboat charterer, the financial lessee (as applicable) and the relevant manager against any tax, duty, charge or contribution payable on income from the exploitation of the foreign-flagged vessel outside Greece. In Belgium, taxation on ocean shipping is based on the tonnage of the sea-going vessels from which the profit is obtained (“tonnage tax”). The income tax (expense)/ benefit reflected in the Company’s consolidated financial statements for the years ended December 31, 2020, 2019, and 2018 is mainly attributable to Navios Holdings’ subsidiaries in South America, which are subject to the Argentinean, Brazilian and Paraguayan income tax regime. CNSA and Corporacion Navios Granos S.A. (“CNGSA”) are located in a tax free zone and are not liable to income tax. Navios Logistics’ current port operations in Uruguay are exempted from income taxes. As a result of the Law 27,630, voted by the Argentinian Parliament in June 2021, income tax rates ans scales were modified. Income tax liabilities of the Argentinean subsidiaries for the current period is measured at the amount expected to be paid to the taxation authorities using a tax rate of 35 30 25 35 30 25 Under the tax laws of Argentina, the subsidiaries of the Company in that country are subject to taxes levied on gross revenues. Rates differ depending on the jurisdiction where revenues are earned for tax purposes. Average rates were approximately 2.0% 2.0% 2.0% 10% 50 30 1% As per the tax reform in Paraguay that is in force since January 1, 2020 (Law 6,380 from September 25, 2019 confirmed by Decree 3182 from December 30, 2019), there are still two possible options to determine the income tax liability of Paraguayan companies. Under the first option income tax liabilities for the current and prior periods are measured at the amount expected to be paid to the taxation authorities, by applying the tax rate of 10% on the fiscal profit and loss. The 100% of revenues derived from freights carried between other countries with destination Paraguay are considered Paraguayan sourced, and therefore taxed. The tax reform also states that any fiscal losses generated as of the fiscal year starting January 1, 2020, will be carried forward for up to five years, with the possibility to deduct each year the 20% from future fiscal years taxable income. Companies whose operations are considered international freights can alternatively choose to pay income taxes on their revenues at an effective tax rate of 3% of such revenues, without considering any other kind of adjustments. Once the methodology is chosen, the Paraguayan companies have to keep it for at least five years. The corporate income tax rate in Argentina, Paraguay, Brazil, and Uruguay is 35% 10% 34% 25% |
Other Expense
Other Expense | 12 Months Ended |
Dec. 31, 2021 | |
Other Income and Expenses [Abstract] | |
Other Expense | NOTE 22: OTHER EXPENSE Other Expense During the years ended December 31, 2021, 2020 and 2019, taxes other-than-income taxes of Navios Logistics amounted to $ 5,442 5,762 7,745 |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2021 | |
Subsequent Events [Abstract] | |
Subsequent Events | NOTE 23: SUBSEQUENT EVENTS Subsequent Events · In January 2022, the HCOB bank facility (as defined herein) was drawn down. · In January 2022, the CACIB/BNP bank facility (as defined herein) was drawn down. · In January 2022, the NSM Loans were drawn down. · In January 2022, the fourth sale and sale and leasback agreement was drawn down. · In January 2022, the 2022 Notes were repaid in full. · In March 2022, the Company prepaid $ 10,380 in connection with HCOB bank facility to release a dry bulk vessel . · In March 2022, Navios Holdings entered into a sale and leaseback agreement for $ 12,000 to finance a vessel, which was drawn in the first quarter of 2022. · In March 2022, the Company issued a notice of redemption with respect to an aggregate principal amount of $ 25,000 · On March 23, 2022, Navios Logistics entered into a $ 25,000 The Navios Logistics 2022 BBVA Facility was used to repay existing debt under the Navios Logistics BBVA Facility, and for general corporate purposes. 4.25 quarterly July 1, 2025 is secured by assignments of certain receivables 17,000 · On March 25, 2022, Navios Logistics entered into a $ 5,000 The Navios Logistics Santander Facility will be used for general corporate purposes 4.20 quarterly March 7, 2026 is secured by assignments of certain receivables. 5,000 For information on the Company’s various loan facilities and sale/leaseback agreements, see Note 11 “Borrowings” to the consolidated financial statements. · In April 2022, Vale International S.A. (“Vale”) announced the sale of its iron ore, manganese ore and logistics assets in the midwestern system to J&F Mineracao Ltda. controlled by J&F Investimentos S.A. The sale includes the full assumption by the buyer of the take-or-pay logistics contracts, which remain subject to the consent of the applicable counterparties. The Vale port contract entered into between Corporacion Navios S.A., a company controlled by Navios Logistics, and Vale, dated September 27, 2013 remains in full force and effect. Any change to the terms and conditions of the Vale port contract is subject to the prior approval of the Navios counterparty. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Basis of presentation: | (a) Basis of presentation: U.S. GAAP Going concern The consolidated financial statements have been prepared on a going concern basis. As of December 31, 2021, Navios Holdings’ current assets totaled $ 229,447 442,701 213,254 164,891 7.375% January 2022 105,000 11.25% August 2022 As of December 31, 2021, Navios Holdings had redeemed $ 150,000 four 100,000 20,000 10,000 155,000 As of December 31, 2021, Navios Holdings had repurchased $ 21,356 January 2022 455,566 150,000 105,000 101,750 77,000 In March 2022, Navios Holdings issued a fifth notice of redemption with respect to an aggregate principal amount of $ 25,000 March 30, 2022 130,000 Based on internal forecasts and projections that take into account potential changes in Company’s trading performance and the ability to sell vessels and other assets, management believes that the Company has adequate financial resources to continue in operation and meet its financial commitments, including but not limited to capital expenditures and debt service obligations, for a period of at least twelve months from the date of issuance of the consolidated financial statements. Although internal forecasts and projections, and specifically the estimated daily time charter equivalent for the unfixed days, are driven by market data and are subject to future volatility along with other factors outside the control of the Company, with the existence of alternative liquidity sources and management’s ability to utilize them if needed, management concludes that substantial doubt about the Company’s ability to continue as a going concern has been alleviated as of the date of the issuance of the consolidated financial statements. Change in accounting principles: ASU 2016-02 Leases, ASC 842 On January 1, 2019, the Company adopted the requirements of Accounting Standards Update (“ASU”) 2016-02 “Leases” as amended (Accounting Standards Codification (“ASC”) 842 or the “new lease standard”). ASC 842 increases transparency and comparability among organizations by requiring a lessee to record right-of-use assets and related lease liabilities on its balance sheet when it commences an operating lease. The Company adopted ASC 842 using the modified retrospective transition method. Under this method, the cumulative effect of applying the new lease standard is recorded with no restatement of any comparative prior periods presented. As provided by ASC 842, the Company elected to record the required cumulative effect adjustments to the opening balance sheet in the period of adoption rather than in the earliest comparative period presented. As a result, the adoption of ASC 842 has not had an impact on prior periods reported by the Company. In connection with its adoption of ASC 842, the Company elected the “package of 3” practical expedients permitted under the transition guidance, which allows the Company not to reassess: (i) whether any expired or existing contracts are considered or contain leases; (ii) the lease classification for any expired or existing leases; and (iii) initial direct costs of existing leases. Additionally, the Company elected the practical expedient allowed under the transition guidance of ASC 842 to not separate the lease and non-lease components related to a lease contract and to account for them as a single lease component for the purposes of the recognition and measurement requirements of ASC 842. As required by ASC 842, the Company’s disclosures around its leasing activities have been significantly expanded to enable users of our consolidated financial statements to assess the amount, timing and uncertainty of cash flows arising from lease arrangements. For further information on the Company’s leases, see Note 15 “Leases” to the consolidated financial statements. |
Principles of consolidation: | (b) Principles of consolidation: The Company also consolidates entities that are determined to be variable interest entities (“VIE”) as defined in the accounting guidance, if the Company determines that it is the primary beneficiary of such entity. ASC 810-15-14 outlines the criteria for evaluating whether an entity is a VIE. A VIE is defined as a legal entity where either (i) equity interest holders as a group lack the characteristics of a controlling financial interest, including decision making ability; and an interest in the entity’s residual risks and reward; or (ii) the equity interest holders have not provided sufficient equity investment to permit the entity to finance its activities without additional subordinated financial support; or (iii) the voting rights of some investors are not proportional to their obligations to absorb the expected losses of the entity, their rights to receive the expected residual returns of the entity, or both and substantially all of the entity’s activities either involve or are conducted on behalf of an investor that has disproportionately few voting rights. Subsidiaries: 63.8% Discontinued Operations: Investments in Affiliate Companies: 20 50 Affiliate companies included in the financial statements accounted for under the equity method In the consolidated financial statements of Navios Holdings, the following entities are included as affiliate companies and are accounted for under the equity method for such periods: (i) Navios Partners and its subsidiaries (ownership interest as of December 31, 2021 was 10.3% 6.9% 3.9% 47.5% 47.5% Subsidiaries Included in the Consolidation: Summary of Significant Accounting Policies - Entities included in the consolidation (Table) Ownership Country of Statements of Operations Company Name Nature Interest Incorporation 2021 2020 2019 Navios Maritime Holdings Inc. Holding Company Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Navios South American Logistics Inc. Sub-Holding Company 63.8% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Navios Maritime Containers L.P. Holding Company 3.7% Marshall Is. — 1/1 – 8/29 11/30 - 12/31 Navios Corporation Sub-Holding Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Navios International Inc. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Navimax Corporation Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Navios Handybulk Inc. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Hestia Shipping Ltd. Operating Company 100% Malta 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Anemos Maritime Holdings Inc. Sub-Holding Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Navios Shipmanagement Inc. Management Company 100% Marshall Is. — 1/1 - 8/29 1/1 - 12/31 NAV Holdings Limited Sub-Holding Company 100% Malta 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Kleimar N.V. Operating Company/ Vessel Owning Company/ Management Company 100% Belgium 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Kleimar Ltd. Operating Company 100 Marshall Is. — 1/1 – 8/29 1/1 - 12/31 Bulkinvest S.A. Operating Company 100% Luxembourg 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Primavera Shipping Corporation Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Ginger Services Co. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Aquis Marine Corp. Sub-Holding Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Navios Tankers Management Inc. Management Company 100% Marshall Is. — 1/1 - 8/29 1/1 - 12/31 Astra Maritime Corporation Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Achilles Shipping Corporation Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Apollon Shipping Corporation Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Herakles Shipping Corporation Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Hios Shipping Corporation Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Ionian Shipping Corporation Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Kypros Shipping Corporation Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Meridian Shipping Enterprises Inc. Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Mercator Shipping Corporation Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Arc Shipping Corporation Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Horizon Shipping Enterprises Corporation Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Magellan Shipping Corporation Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Aegean Shipping Corporation Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Star Maritime Enterprises Corporation Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Corsair Shipping Ltd. Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Rowboat Marine Inc. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Rondine Management Corp . Vessel Owning Company 100% Marshall Is. 1/1 - 9/30 3/22 - 12/31 — Vernazza Shiptrade Inc. Operating Company 100% Marshall Is. 1/1 - 12/31 9/25-12/31 — Navios Corporation Management Inc. Operating Company 100% Marshall Is. — 7/4 -8/29 — Beaufiks Shipping Corporation Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Nostos Shipmanagement Corp. Vessel Owning Company 100% Marshall Is. 1/1 - 6/30 1/1 - 12/31 1/1 - 12/31 Portorosa Marine Corp. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Shikhar Ventures S.A. Vessel Owning Company 100% Liberia 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Sizzling Ventures Inc. Operating Company 100% Liberia 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Rheia Associates Co. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Taharqa Spirit Corp. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Rumer Holding Ltd. Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Pharos Navigation S.A. Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Pueblo Holdings Ltd. Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Quena Shipmanagement Inc. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Aramis Navigation Inc. Vessel Owning Company 100% Marshall Is. 1/1 - 7/9 1/1 - 12/31 1/1 - 12/31 White Narcissus Marine S.A. Vessel Owning Company 100% Panama 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Navios GP L.L.C. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Red Rose Shipping Corp. Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Highbird Management Inc. Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Ducale Marine Inc. Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Vector Shipping Corporation Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Faith Marine Ltd. Vessel Owning Company 100% Liberia 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Navios Maritime Finance (US) Inc. Operating Company 100% Delaware 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Navios Maritime Finance II (US) Inc. Operating Company 100% Delaware 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Tulsi Shipmanagement Co. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Cinthara Shipping Ltd. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Rawlin Services Company Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Mauve International S.A. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Serenity Shipping Enterprises Inc. Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Mandora Shipping Ltd Vessel Owning Company 100% Marshall Is. 1/1 - 3/30 1/1 - 12/31 1/1 - 12/31 Solange Shipping Ltd. Vessel Owning Company 100% Marshall Is. 1/1 - 3/30 1/1 - 12/31 1/1 - 12/31 Diesis Ship Management Ltd. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Navios Holdings Europe Finance Inc. Sub-Holding Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Navios Asia LLC Sub-Holding Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Iris Shipping Corporation Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Jasmine Shipping Corporation Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Emery Shipping Corporation Vessel Owning Company 100% Marshall Is. — 1/1 - 09/30 1/1 - 12/31 Lavender Shipping Corporation Vessel Owning Company 100% Marshall Is. 1/1 - 6/30 1/1 - 12/31 1/1 - 12/31 Esmeralda Shipping Corporation Vessel Owning Company 100% Marshall Is. — — 1/1 - 8/30 Triangle Shipping Corporation Vessel Owning Company 100% Marshall Is. — — 1/1 - 8/30 Roselite Shipping Corporation Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Smaltite Shipping Corporation Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Motiva Trading Ltd. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Alpha Merit Corporation Sub-Holding Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Thalassa Marine S.A. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Asteroid Shipping S.A. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/12 - 12/31 Cloud Atlas Marine S.A. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/15 - 12/31 Heodor Shipping Inc. Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 2/13 - 12/31 Navios Maritime Containers GP LLC Operating Company 100% Marshall Is. — 1/1 - 8/29 9/11 - 12/31 Navios Containers Management Inc. Management Company 100% Marshall Is. — 1/1 - 8/29 1/1 - 12/31 Pacifico Navigation Corp. Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 11/7 - 12/31 Rider Shipmanagement Inc. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 12/4 - 12/31 Talia Shiptrade S.A. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 10/11-12/31 Moonstone Shipping Corporation Vessel Owning Company 100 Marshall Is. 6/30 –12/31 — — Opal Shipping Corporation Vessel Owning Company 100% Marshall Is. 6/30 –12/31 — — Grimaud Ventures S.A. Operating Company 100% Marshall Is. 7/30-12/31 — — |
Use of Estimates: | (c) Use of Estimates: The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. On an ongoing basis, management evaluates the estimates and judgments. Estimates and judgements management evaluates relate to. among other things, uncompleted voyages, future drydock dates, the assessment of other-than-temporary impairment related to the carrying value of investments in affiliate companies, the selection of useful lives for tangible and intangible assets, expected future cash flows from long-lived assets and operating lease assets to support impairment tests, impairment test for goodwill, allowance for credit losses necessary for accounts receivables and demurrages, provisions for legal disputes, pension benefits, contingencies and guarantees. Management bases its estimates and judgments on historical experience and on various other factors that they believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. The spread of the COVID-19 pandemic, which the World Health Organization declared a pandemic in 2020, has caused substantial disruptions in the global economy and the shipping industry, as well as significant volatility in the financial markets, the severity and duration of which remains uncertain. |
Cash and Cash Equivalents: | (d) Cash and Cash Equivalents: |
Restricted Cash: | (e) Restricted Cash: 0 684 10 84,250 15,609 |
Insurance Claims: | (f) Insurance Claims: |
Inventories: | (g) Inventories: |
Dry Bulk Vessels, Port Terminals, Tanker Vessels, Barges, Pushboats and Other Fixed Assets, net: | (h) Dry Bulk Vessels, Port Terminals, Tanker Vessels, Barges, Pushboats and Other Fixed Assets, net: Expenditures for routine maintenance and repairs are expensed as incurred. Depreciation is computed using the straight-line method over the useful life of the vessels, port terminals, tanker vessels, barges, pushboats and other fixed assets, after considering the estimated residual value. Annual depreciation rates used, which approximate the useful life of the assets are: Summary of Significant Accounting Policies - Depreciation Periods (Table) Dry bulk vessels 25 years Port terminals 5 49 years Tanker vessels, barges and pushboats 15 45 years Furniture, fixtures and equipment 3 10 years Computer equipment and software 5 years Leasehold improvements shorter of lease term or 6 years Management estimates the residual values of the Company’s dry bulk vessels based on a scrap value cost of steel times the weight of the ship noted in lightweight tons (“LWT”). Residual values are periodically reviewed and revised to recognize changes in conditions, new regulations or for other reasons. Revisions of residual values affect the depreciable amount of the vessels and the depreciation expense in the period of the revision and future periods. Management estimates the residual values of the Company’s vessels based on a scrap rate of $ 340 Management estimates the useful life of its dry bulk vessels to be 25 years |
Deposits for Vessels, Port Terminals and Other Fixed Assets: | (i) Deposits for Vessels, Port Terminals and Other Fixed Assets: 1,062 986 1,960 Other long-term assets”, |
Assets Held for Sale: | (j) Assets Held for Sale: The Company’s policy is to dispose of vessels and other fixed assets when suitable opportunities occur and not necessarily to keep them until the end of their useful life. The Company classifies assets and disposal groups as being held for sale when the following criteria are met: management has committed to a plan to sell the asset (disposal group); the asset (disposal group) is available for immediate sale in its present condition; an active program to locate a buyer and other actions required to complete the plan to sell the asset (disposal group) have been initiated; the sale of the asset (disposal group) is probable, and transfer of the asset (disposal group) is expected to qualify for recognition as a completed sale within one year; the asset (disposal group) is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. Long-lived assets or disposal groups classified as held for sale are measured at the lower of their carrying amount or fair value less cost to sell. These assets are not depreciated once they meet the criteria to be held for sale. No assets were classified as held for sale as of December 31, 2021 and 2020. |
Impairment of Long Lived Assets: | (k) Impairment of Long Lived Assets: Navios Holdings Navios Holdings determines the fair value of its assets on the basis of management estimates and assumptions by making use of available market data and taking into consideration third party valuations performed on an individual vessel basis. In evaluating useful lives and carrying values of long-lived assets, certain indicators of potential impairment are reviewed, such as undiscounted projected operating cash flows, vessel sales and purchases, business plans and overall market conditions. Undiscounted projected net operating cash flows are determined for each asset group and compared to the carrying value of the vessel, the unamortized portion of deferred drydock and special survey costs, the unamortized portion of ballast water treatment system and the unamortized portion of other capitalized items, if any related to the vessel or the carrying value of deposits for newbuildings. The loss recognized either on impairment (or on disposition) will reflect the excess of carrying value over fair value (selling price) for the vessel asset group. Where the undiscounted projected net operating cash flows for each asset group do not exceed the carrying value of the operating lease asset and the carrying value of deposits for the option to acquire a vessel including expenses and interest, management proceeds to perform step two of the impairment assessment. In step two of the impairment assessment, the Company determines the fair value of its vessels through a combination of a discounted cash flow analysis utilizing market participant assumptions from available market data and third-party valuations performed on an individual vessel basis. As of December 31, 2021, the Company considered various indicators, including but not limited to the market price of its long-lived assets, its contracted revenues and cash flows and the economic outlook, and concluded for the Dry Bulk Vessel Operations that no events and circumstances occurred, which could trigger the existence of potential impairment of the Company’s vessels. As a result, no step one of impairment assessment was performed as of December 31, 2021. During the fourth quarter of fiscal year 2020, management concluded that events occurred, and circumstances had changed, which indicated that potential impairment of the Company’s long-lived assets could exist. These indicators included continued volatility in the spot market, and the related impact of the current dry bulk sector on management’s expectation for future revenues. As a result, an impairment assessment of long-lived assets (step one) was performed. The Company determined undiscounted projected net operating cash flows for each vessel and compared it to the vessel’s carrying value together with the carrying value of deferred drydock and special survey costs, ballast water treatment system costs and other capitalized items, if any, related to the vessel. The significant factors and assumptions used in the undiscounted projected net operating cash flow analysis included: determining the projected net operating cash flows by considering the charter revenues from existing time charters for the fixed fleet days (the Company’s remaining charter agreement rates) and an estimated daily time charter equivalent for the unfixed days (based on a combination of one-year average historical time charter rates and 10-year average historical one-year time charter rates) over the remaining economic life of each vessel, net of brokerage and address commissions excluding days of scheduled off-hires, management fees for vessel operating expenses fixed until 2021 and thereafter assuming an annual increase of 3.0% 99.3% As of December 31, 2020, our assessment concluded that step two of the impairment analysis was required for two of our dry bulk vessels held and used, as the undiscounted projected net operating cash flows did not exceed the carrying value for such vessels. As a result, the Company recorded an impairment loss of $ 52,820 As of December 31, 2019, the Company recorded an impairment loss of $ 84,584 Navios Logistics As of December 31, 2021, management concluded that for the Logistics Business that operates tanker vessels in its cabotage business, certain events and circumstances had changed as of December 31, 2021, indicating a potential impairment of two of the Logistics Business’s tanker vessels. These events and circumstances included the extended period in which its tanker vessels operating in the cabotage business have been without a long term time charter contract. The extended delay is the result of the status of the current tanker market and the vessels’ capacity. Vessels’ capacity appears to be limited to trading in the markets of Argentina and Uruguay. Navios Logistics recorded an impairment loss of $ 21,966 No |
Deferred Drydock and Special Survey Costs: | (l) Deferred Drydock and Special Survey Costs: 30 60 72 96 Costs capitalized as part of the drydocking or special survey consist principally of the actual costs incurred at the yard, and expenses relating to spare parts, paints, lubricants and services incurred solely during the drydocking or special survey period. For each of the years ended December 31, 2021, 2020 and 2019, the amortization of deferred drydock and special survey costs from continuing operations was $ 11,084 10,255 11,067 |
Deferred Financing Costs: | (m) Deferred Financing Costs: 8,870 7,863 7,746 |
Goodwill and Other Intangibles | (n) Goodwill and Other Intangibles (i) Goodwill: The Company evaluates impairment of goodwill using a single step process following the adoption of ASU 2017-04, “Intangibles-Goodwill and Other (Topic 350)” as of January 1, 2020. The aggregate fair value of the reporting unit is compared to its carrying amount, including goodwill. The Company determines the fair value of the reporting unit based on a combination of the income approach (i.e. discounted cash flows) and market approach (i.e. comparative market multiples) and believes that the combination of these two approaches is the best indicator of fair value for its individual reporting units. Goodwill impairment loss is measured as the amount by which a reporting unit’s carrying amount exceeds its fair value, not to exceed the carrying amount of goodwill. As of December 31, 2021, the Company performed its impairments test for its reporting units within the Dry Bulk Vessel Operations and the Logistics Business. The Company additionally considered that its market capitalization continued to remain at a level well below the carrying amount. As of December 31, 2021, the Company performed the impairment test for the Dry Bulk Vessel Operations reporting unit, which, is allocated goodwill of $ 56,240 The fair value of the Dry Bulk Vessel Operations reporting unit was estimated using a combination of income and market approaches. For the income approach, the expected present value of future cash flows used judgments and assumptions that management believes were appropriate in the circumstances. The significant factors and assumptions the Company used in its discounted cash flow analysis included: EBITDA, the discount rate used to calculate the present value of future cash flows and future capital expenditures. EBITDA assumptions included revenue assumptions, general and administrative expense growth assumptions and direct vessel expense growth assumptions. The future cash flows were determined by considering the charter revenues from existing time charters for the fixed fleet days (the Company’s remaining charter agreement rates) and an estimated daily time charter equivalent for the unfixed days (based on a combination of one-year average historical time charter rates and the 10-year average of historical one-year time charter rates). The Company believes this approach to be objective for forecasting charter rates over an extended time period for long-lived assets and consistent with the cyclicality of the industry. In addition, a weighted average cost of capital (“WACC”) was used to discount future estimated cash flows to their present values. The WACC was based on externally observable data considering market participants’ and the Company’s cost of equity and debt, optimal capital structure and risk factors specific to the Company. The market approach estimated the fair value of the Company’s business based on comparable publicly-traded companies in its industry. In assessing the fair value, the Company utilized the results of the valuations and considered the range of fair values determined under all methods which indicated that the fair value exceeded the carrying amount. As of December 31, 2021, the Company performed the impairment test for the Logistics Business, which is allocated goodwill of $ 104,096 No impairment loss was recorded for any of the periods presented for both the Dry Bulk Vessel Operations and the Logistics Business. (ii) Intangibles Other Than Goodwill: straight-line 32 years straight-line 10 years The fair value of customer relationships of Navios Logistics was determined based on the “excess earnings” method, which relies upon the future cash flow generating ability of the asset. Customer relationships are amortized using the straight-line The Company reviews its other intangibles such as trade name, customer relationships, port terminal operating rights, favorable lease terms and unfavorable lease terms periodically for potential impairment whenever events or changes in circumstances indicate that the carrying amount may not be fully recoverable. Intangibles other than goodwill would be considered impaired if their carrying value is not recovered from the future undiscounted cash flows associated with the asset (step one). Measurement of the impairment loss is determined as the difference between the carrying amount and the fair value of the intangible asset. The Company determines the fair value of its intangible assets based on management estimates and assumptions by making use of available market data. In evaluating carrying values of intangible assets, certain indicators of potential impairment are reviewed, such as undiscounted projected operating cash flows, business plans and overall market conditions. When intangible assets or liabilities associated with the acquisition of a vessel are identified, they are recorded at fair value. Fair value is determined by reference to market data and the discounted amount of expected future cash flows. Where charter rates are higher than market charter rates, an asset is recorded, being the difference between the acquired charter rate and the market charter rate for an equivalent vessel. Where charter rates are less than market charter rates, a liability is recorded, being the difference between the assumed charter rate and the market charter rate for an equivalent vessel. The determination of the fair value of acquired assets and assumed liabilities requires the Company to make significant assumptions and estimates of many variables including market charter rates, expected future charter rates, the level of utilization of the Company’s vessels and the Company’s weighted average cost of capital. The use of different assumptions could result in a material change in the fair value of these items, which could have a material impact on the Company’s financial position and results of operations. The amortizable value of favorable and unfavorable leases is amortized over the remaining life of the lease term and the amortization expense is included in the statements of comprehensive income/(loss) under the caption “Depreciation and amortization” in the consolidated financial statements. The amortizable value of favorable leases would be considered impaired if the carrying value of such leases could not be recovered from the future undiscounted cash flows associated with the asset. Vessel purchase options that have not been exercised, which are included in favorable lease terms, would be considered impaired if the carrying value of an option, when added to the option price of the vessel, exceeded the fair value of the vessel. Vessel purchase options that are included in favorable leases are not amortized and when the purchase option is exercised, the asset is capitalized as part of the cost of the vessel and depreciated over the remaining useful life of the vessel and if not exercised, the intangible asset is written off. Vessel purchase options that are included in unfavorable lease terms are not amortized and when the purchase option is exercised by the charterer and the underlying vessel is sold, it will be recorded as part of gain/loss on sale of the assets. If the option is not exercised at the expiration date, it is written-off in the consolidated statements of comprehensive income/(loss). No favorable and unfavorable lease terms have been identified for the years ended December 31, 2021 and 2020. As of December 31, 2021, the Company concluded that no events and circumstances occurred that could trigger the existence of potential impairment of the Navios Holdings trade name, and the Company’s other intangible assets such as port terminal operating rights and customer relationships. As a result, step one of impairment assessment was not required as of December 31, 2021. During the fourth quarter of fiscal year 2020, management concluded that certain events occurred and circumstances had changed indicating a potential impairment of the Navios Holdings trade name. These changes in events and circumstances included continued volatility in the spot market, and the impact of the current dry bulk sector on management’s expectation for future revenues. As a result, an impairment assessment for trade name (step one) was performed. The significant factors and assumptions the Company used in the undiscounted cash flow analysis of its trade name included: revenue assumptions, specifically the future cash flows were determined by considering the charter revenues of the Dry Bulk Vessel Operations from existing time charters for the fixed fleet days (the Company’s remaining charter agreement rates) and an estimated daily time charter equivalent for the unfixed days (based on a combination of one-year average historical time charter rates and the 10-year average historical one-year time charter rates) and the respective “relief from royalty” rate applied to the future cash flows of the Dry Bulk Vessel Operations. No impairment loss was recorded for the Company’s intangible assets as of December 31, 2021, 2020 and 2019. The weighted average amortization periods for intangibles are: Summary of Significant Accounting Policies - Finite lived acquired intangible assets (Table) Intangible assets Years Trade name 32 Port terminal operating rights 47 Customer relationships 20 See also Note 3 “Sale of Management & Consolidation/Deconsolidation of Navios Containers” and Note 8 “Intangible Assets other than Goodwill” to the consolidated financial statements. |
Foreign Currency Translation: | (o) Foreign Currency Translation: 2,630 546 (967) |
Provisions: | (p) Provisions: The Company participates in Protection and Indemnity (“P&I”) insurance plans provided by mutual insurance associations known as P&I clubs. Under the terms of these plans, participants may be required to pay additional premiums (supplementary calls) to fund operating deficits incurred by the clubs (“back calls”). Obligations for back calls are accrued annually based on information provided by the P&I clubs. Provision for losses subject to claims was provided for in the period in which estimated losses on vessels under time charter losses were determined. As of both December 31, 2021 and 2020, the balance for this provision was $ 0 |
Segment Reporting: | (q) Segment Reporting: three two |
Revenue and Expense Recognition: | (r) Revenue and Expense Recognition: Revenue Recognition: In determining the appropriate amount of revenue to be recognized as it fulfills its obligations under its agreements, the Company performs the following steps: (i) identification of the promised goods or services in the contract; (ii) determination of whether the promised goods or services are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations based on estimated selling prices; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. Voyage revenues for the transportation of cargo are recognized ratably over the estimated relative transit time of each voyage. A voyage is deemed to commence when a vessel arrives at the loading port, as applicable under the contract, and is deemed to end upon the completion of the discharge of the current cargo. Under a voyage charter, a vessel is provided for the transportation of specific goods between specific ports in return for payment of an agreed upon freight per ton of cargo. Revenues are recorded net of address commissions. Address commissions represent a discount provided directly to the charterers based on a fixed percentage of the agreed upon charter rate. Since address commissions represent a discount (sales incentive) on services rendered by the Company and no identifiable benefit is received in exchange for the consideration provided to the charterer, these commissions are presented as a reduction of revenue. Revenue from contracts of affreightment (“COA”)/voyage contracts relating to our barges are recognized ratably over the estimated relative transit time of each voyage. A voyage is deemed to commence upon the barge’s arrival at the loading port, as applicable under the contract, and is deemed to end upon the completion of discharge under the current voyage. The percentage of transit time is based on the number of days traveled as of the balance sheet date divided by the number of total days expected for the voyage. The position of the barge at the balance sheet date is determined by the days traveled as of the balance sheet date over the total voyage of the pushboat having the barge in tow. Revenue arising from contracts that provide our customers with continuous access to convoy capacity is recognized ratably over the period of the contracts. Demurrage income represents payments made by the charterer to the vessel owner when loading or discharging time exceeds the stipulated time in the voyage charter and is recognized as it is earned. The Company recognizes revenue ratably from the vessel’s/barge’s arrival at the loading port, as set forth in the applicable contract, to when the charterer’s cargo is discharged as well as defer costs that meet the definition of “costs to fulfill a contract” and relate directly to the contract. Revenues from time-chartering and bareboat chartering of vessels and barges are accounted for as operating leases and are thus recognized on a straight-line basis as the average revenue over the rental periods of such charter agreements as service is performed. However, for loss generating time charters, the loss is recognized in the period during which the loss is generated. A time-charter involves placing a vessel or barge at the charterer’s disposal for a period of time during which the charterer uses the vessel in return for the payment of a specified daily hire rate. Charters for periods of less than three months are referred to as spot-charters. Charters for periods of three months to a year are generally referred to as medium-term charters. All other charters are considered long-term. For time-charters, the owner of the vessel typically pays the vessel’s operating costs, such as crews, maintenance and insurance. For vessels operating in pooling arrangements, the Company earns a portion of total revenues generated by the pool, net of expenses incurred by the pool. The amount allocated to each pool participant vessel, including the Company’s vessels, is determined in accordance with an agreed-upon formula, which is determined by margins awarded to each vessel in the pool based on the vessel’s age, design and other performance characteristics. Revenue under pooling arrangements is accounted for on the accrual basis and is recognized in the period in which the variability is resolved. The allocation of such net revenue may be subject to future adjustments by the pool; however, such changes are not expected to be material. Revenues from dry port terminal operations consist of an agreed flat fee per ton and cover the services performed to unload barges (or trucks), transfer the product into silos or the stockpiles for temporary storage, and to load the ocean-going vessels. Revenues are recognized upon completion of loading the ocean-going vessels. Revenue arising from contracts that provide our customers with continuous access to port terminal storage and transshipment capacity is recognized ratably over the period of the contracts. Additionally, fees are charged for vessel dockage and for storage time in excess of contractually specified terms. Dockage revenues are recognized ratably up to completion of loading as the performance obligation is met evenly over the loading period. Storage fees are assessed and recognized at the point when the product remains in the silo storage beyond the contractually agreed upon term. Storage fee revenue is recognized ratably over the storage period and ends when the product is loaded onto the ocean-going vessel. Revenues from liquid port terminal consist mainly of sales of petroleum products in the Paraguayan market and revenues from liquid port operations. Revenues from liquid port terminal operations consist of an agreed flat fee per cubic meter or a fixed rate over a specific period to cover the services performed to unload barges, transfer the products into the tanks for temporary storage and then loading the trucks. Revenues that consist of an agreed flat fee per cubic meter are recognized upon completion of loading the trucks. Revenues from liquid port terminal operations that consist of a fixed rate over a specific period are recognized ratably over the storage period as the performance obligation is met evenly over time, ending when the product is loaded onto the trucks. Additionally, revenues consist of an agreed flat fee per cubic meter to cover the services performed to unload barges, transfer the products into the tanks for temporary storage, and to load the trucks. Revenues are recognized upon completion of loading the trucks. Additionally, fees are charged for storage time in excess of contractually specified terms. Storage fee revenue is recognized ratably over the storage period and ends when the product is loaded onto the trucks. Expenses related to our revenue-generating contracts are recognized as incurred. The following tables reflect the revenue earned per category for the years ended December 31, 2021, 2020 and 2019: Summary of Significant Accounting Policies - Revenue per Category (Table) Dry Bulk Vessel Operations for the Logistics Business Total COA/Voyage revenue $ 24,355 $ 77,485 $ 101,840 Time chartering revenue 337,018 41,446 378,464 Port terminal revenue — 78,740 78,740 Storage fees (dry port) revenue — 1,518 1,518 Dockage revenue — 3,876 3,876 Sale of products revenue — 13,776 13,776 Liquid port terminal revenue — 5,734 5,734 Other 969 901 1,870 Total $ 362,342 $ 223,476 $ 585,818 Dry Bulk Vessel Operations for the Logistics Business Total for the COA/Voyage revenue $ 6,660 $ 54,005 $ 60,665 Time chartering revenue 194,005 59,236 253,241 Port terminal revenue — 73,112 73,112 Storage fees (dry port) revenue — 3,364 3,364 Dockage revenue — 3,948 3,948 Sale of products revenue — 17,272 17,272 Liquid port terminal revenue — 4,606 4,606 Other 128 382 510 Total $ 200,793 $ 215,925 $ 416,718 Dry Bulk Vessel Operations for the Logistics Business Total COA/Voyage revenue $ 3,727 $ 49,488 $ 53,215 Time chartering revenue 250,187 76,680 326,867 Port terminal revenue — 80,180 80,180 Storage fees (dry port) revenue — 3,452 3,452 Dockage revenue — 4,310 4,310 Sale of products revenue — 9,384 9,384 Liquid port terminal revenue — 4,032 4,032 Other 264 745 1,009 Total $ 254,178 $ 228,271 $ 482,449 Administrative fee revenue from affiliate companies: General and administrative expenses: Following the sale of the management division effected on August 30, 2019, outlined in Note 3, these services are provided by NSM, pursuant to an administrative services agreement dated August 29, 2019 ( the “Administrative Services Agreement”). The Manager is reimbursed for reasonable costs and expenses incurred in connection with the provision of these services. The term of this agreement is for an initial period of five years with an automatic extension for a period of five years thereafter unless a notice of termination is received by either party. The Administrative Services Agreement also provides that the Company pay a termination fee, equal to the fees charged for the full calendar year preceding the termination date, by Navios Holdings in the event the Administrative Services Agreement is terminated on or before August 29, 2024. For information on the Administrative Services Agreement, see Note 16 “Transactions with Related Parties” in the consolidated financial statements. Deferred Income and Cash Received In Advance: Time Charter, Voyage and Logistics Business Expenses: Direct Vessel Expenses: 3.7 3.8 3% 0.03 August 29, 2024 Prepaid Voyage Costs: |
Employee benefits: | (s) Employee benefits: Pension and Retirement Obligations-Crew: Provision for Employees’ Severance and Retirement Compensation: The amount of compensation was based on the number of years of service and the amount of remuneration at the date of dismissal or retirement up to a maximum of two years’ salary. If the employees remained in the employment of the Company until normal retirement age, they were entitled to retirement compensation equal to 40 U.S. Retirement Savings Plan: The Company sponsored a 401(k) retirement savings plan, which was categorized as a defined contribution plan. The plan was available to full time employees who met the plan’s eligibility requirements. The plan permitted employees to make contributions up to 15% of their annual salary with the Company matching up to the first 6%. The Company made monthly contributions (matching contributions) to the plan based on amounts contributed by employees. Subsequent to making the matching contributions, the Company had no further obligations. The Company might make an additional discretionary contribution annually if such a contribution was authorized by the Board of Directors. The plan was administered by an independent professional firm that specialized in providing such services. Other Post-Retirement Obligations: Stock-Based Compensation: The fair value of share appreciation rights and stock option grants is determined with reference to option pricing model and principally adjusted Black-Scholes models. The fair value of restricted share units, restricted stock and restricted stock units is determined by reference to the quoted stock price on the date of grant. Compensation expense, net of estimated forfeitures, is recognized based on a graded expense model over the vesting period. Compensation expense for the awards that vest upon achievement of the performance criteria is recognized when it is probable that the performance criteria will be met and are being accounted for as equity. |
Earning/(Loss) Per Share: | (t) Financial Instruments: Financial Risk Management: Credit Risk: Liquidity Risk: Foreign Exchange Risk: (u) Earning/(Loss) Per Share: |
Income Taxes: | (v) Income Taxes: The asset and liability method is used to account for future income taxes. Under this method, future income tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts and the tax bases of assets and liabilities. Future income tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on future income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A deferred tax asset is recognized for temporary differences that will result in deductible amounts in future years. A valuation allowance is recognized if, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred tax asset will not be realized. As a result of the Law 27,630, voted by the Argentinean Parliament in June 2021, income tax rates and scales were modified for the fiscal periods starting as of January 1, 2021. Income tax liabilities of the Argentinean subsidiaries for the current period is measured at the amount expected to be paid to the taxation authorities using a tax rate of 35% on any taxable profit above 50 million Argentinean pesos or $487, 30% on any taxable profit between 5 million pesos or $49 and 50 million pesos or $487, and 25% on any taxable profit below 5 million pesos or $49. The Law 27,630 replaced the income tax rates and scales enacted by the Law 27,541, voted by the Parliament on December 23, 2019, which had made changes to the income tax law in Argentina. The Law 27,541, had modified the rates for income taxes applicable for the fiscal years beginning on January 1, 2020 and 2021. In measuring its income tax assets and liabilities, the Company used the rate that is expected to be enacted at the time of the reversal of the asset or liability in the calculation of the deferred tax for the items related to Argentina. An income tax rate of 35 2,112 208 |
Dividends: | (w) Dividends: 0 0 |
Guarantees: | (x) Guarantees: On November 15, 2012, the Company agreed to provide Navios Partners with guarantees against counterparty default on certain existing charters (see also Note 16 “Transactions with Related Parties” to the consolidated financial statements). |
Leases: | (y) Leases: The difference between the gross investment in the lease and the sum of the present values of the two components of the gross investment is recorded as unearned income which is amortized to income over the lease term as finance lease interest income to produce a constant periodic rate of return on the net investment in the lease. For charters classified as operating leases where Navios Holdings is deemed the lessor, refer to Note 2(r) “Summary of Significant Accounting Policies -Revenue and Expense Recognition” to the consolidated financial statements. The Company acts as a lessor under operating leases in connection with all of its charter out arrangements. In cases of lease agreements where the Company acts as lessee, the Company recognizes an operating lease asset and a corresponding lease liability on the consolidated balance sheet. For charters classified as operating leases where Navios Holdings is or is deemed the lessee, the expense is recognized on a straight-line basis over the rental periods of such charter agreements. The expense is included under the caption “Time charter, voyage and logistics business expenses”. During the transition to ASC 842, the operating leases assets were adjusted for the carrying amount of the straight-line liabilities on that date. In cases of sale and leaseback agreements, if the transfer of the asset to the lessor does not qualify as a sale, then the agreement constitutes a failed sale and leaseback and is accounted for as a financial liability. For a sale to have occurred, the control of the asset would need to be transferred to the lessor, and the lessor would need to obtain substantially all the benefits from the use of the asset. Impairment of operating lease assets: Undiscounted projected net operating cash flows are determined for each asset group and compared to the carrying value of the operating lease asset and the carrying value of deposits for the option to acquire a vessel including expenses and interest (asset group). If the step two of the impairment analysis is required, the analysis includes the use of discounted cash flows which includes various assumptions, including the Company’s WACC. If management determines that step two of the impairment analysis is required for any of our asset groups, a discounted cash flow analysis using the Company’s WACC is performed. The WACC is based on externally observable data considering market participants’ and the Company’s cost of equity and debt, optimal capital structure and risk factors specific to the Company. Where the undiscounted projected net operating cash flows for each asset group do not exceed the carrying value of the operating lease asset and the carrying value of deposits for the option to acquire a vessel including expenses and interest, management proceeds to perform step two of the impairment assessment. As of December 31, 2021, the Company concluded that no events or circumstances occurred that would trigger the existence of potential impairment of its operating lease assets. As a result, no step one impairment assessment was performed as of December 31, 2021. During the fourth quarter of fiscal year 2020, management concluded that events occurred, and certain circumstances had changed, such that potential impairment of the Company’s operating lease assets could exist. These events and circumstances included continued volatility in the spot market, the impact of such volatility on the current dry bulk sector, and the resulting effecton management’s expectation for future revenues. As a result, an impairment assessment of operating lease assets (step one) was performed. The Company determined undiscounted projected net operating cash flows for each charter-in and bareboat-in vessel and compared those cash flows to each operating lease asset’s carrying value together with the carrying value of deposits for the option to acquire a vessel including expenses and interest. Factors and assumptions used in the undiscounted projected net operating cash flow analysis included: a determination of the projected net operating cash flows by considering the charter revenues from existing time charters for the fixed fleet days (the Company’s remaining charter agreement rates), an estimated daily time charter equivalent for the unfixed days (based on three-year average historical time charter rates) over the remaining lease term, net of brokerage and address commissions excluding days of scheduled off-hires (for the bareboat-in vessels), and management fees for vessel operating expenses in accordance with the terms of the Management Agreement. The determination process assumed an annual increase of 3.0% As of December 31, 2020, our assessment concluded that step two of the impairment analysis was required for two asset groups, which involved a discounted cash flow analysis using the Company’s WACC. As a result, the Company recorded an impairment loss of $ 1,361 As of December 31, 2019, our assessment concluded that step two of the impairment analysis was required for certain charter-in vessels, which involves a discounted cash flow analysis using the Company’s WACC. As a result, the Company recorded an impairment loss of $ 38,636 |
Treasury Stock: | (z) Treasury Stock: |
Trade Accounts Receivable: | (aa) Trade Accounts Receivable: On January 1, 2020, the Company adopted Topic 326 “Financial Instruments - Credit Losses. Measurement of Credit Losses on Financial Instruments” using the modified retrospective approach. This standard amends the accounting for credit losses on available-for-sale debt securities, purchased financial assets with credit deterioration and clarifies that impairment of receivables arising from operating leases should be accounted for in accordance with ASC 842 “Leases”. In addition, this standard requires the measurement of all expected credit losses for financial assets, including trade accounts receivable, held at the reporting date based on historical experience, current conditions, and current expectations of future economic conditions based on reasonable and supportable forecasts. This new guidance did not have a material impact on the Company’s consolidated financial statements, as the majority of its Accounts receivable, net relates to receivables arising from operating leases and are scoped out of the new standard. As a result of the adoption of this standard, there was no cumulative impact to the Company’s accumulated deficit at January 1, 2020 |
Convertible Preferred Stock: | (ab) Convertible Preferred Stock: 0.0001 2 Five years after the issuance date, 30 10 20 10 14 14 |
Cumulative Redeemable Perpetual Preferred Stock: | (ac) Cumulative Redeemable Perpetual Preferred Stock: 2,000,000 4,800,000 Each of the shares represents 1/100th of a share of the Series G, with a liquidation preference of $ 2,500 25 8.75 8.625 2,500 25 |
Investment in Available-for-Sale Securities: | (ad) Investment in Available-for-Sale Securities: Investment in Equity Securities: |
Financial Instruments and Fair Value: | (ae) Financial Instruments and Fair Value: A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. In determining the appropriate levels, the Company performs a detailed analysis of the assets and liabilities that are subject to guidance on Fair Value Measurements. |
Recent Accounting Pronouncements: | (af) Recent Accounting Pronouncements: Adoption of new accounting pronouncements: In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) ASU 2020-4, “Reference Rate Reform (Topic 848)” (“ASU 2020-4”), which provides optional guidance intended to ease the potential burden in accounting for the expected discontinuation of LIBOR as a reference rate in the financial markets. The guidance can be applied to modifications made to certain contracts to replace LIBOR with a new reference rate. The guidance, if elected, will permit entities to treat such modifications as the continuation of the original contract, without any required accounting reassessments or remeasurements. In addition, in January 2021, the FASB issued another ASU (ASU No. 2021-01) with respect to the Reference Rate Reform (Topic 848). The amendments in this Update clarify that certain optional expedients and exceptions in Topic 848 for contract modifications and hedge accounting apply to derivatives that are affected by the discounting transition. The ASU 2020-4 was effective for the Company beginning on March 12, 2020 and the Company will apply the amendments prospectively through December 31, 2022. As of December 31, 2021, the Company has not made any contract modification to replace the reference rate in any of its agreements and had evaluated that there was no impact to its consolidated financial statements. In December 2019, FASB issued ASU 2019-12, Income Taxes (Topic 740), which modifies ASC 740 to simplify the accounting for income taxes. It removes certain exceptions to the general principles in Topic 740 and amends existing guidance to improve consistent application. The amendments in ASU 2019-12 are effective for public business entities for fiscal years beginning after December 15, 2020, including interim periods therein. The adoption of this ASU on January 1, 2021 did not have a material impact on the Company’s consolidated financial statements. In August 2018, FASB issued ASU 2018-14, “Compensation-Retirement Benefits-Defined Benefit Plans (Topic 715-20): Disclosure Framework-Changes to the Disclosure Requirements for Defined Benefit Plans”. This update modifies the disclosure requirements for defined benefit pension plans and other postretirement plans. ASU 2018-14 is effective for public business entities that are SEC filers beginning in the first quarter of fiscal year 2021. The adoption of this ASU on January 1, 2021 did not have a material impact on the Company’s consolidated financial statements. Recently Issued Accounting Pronouncements Pending Adoption In July 2021, the FASB issued ASU 2021-05, Lease (Topic 842): Lessors—Certain Leases with Variable Lease Payments (“ASU 2021-05”). The guidance in ASU 2021-05 amends the lease classification requirements for the lessors under certain leases containing variable payments to align with practice under ASC 840. The lessor should classify and account for a lease with variable lease payments that do not depend on a reference index or a rate as an operating lease if both of the following criteria are met: 1) the lease would have been classified as a sales-type lease or a direct financing lease in accordance with the classification criteria in ASC 842-10-25-2 through 25-3; and 2) the lessor would have otherwise recognized a day-one loss. The amendments in ASU 2021-05 are effective for fiscal years beginning after December 15, 2021, with early adoption permitted. The Company is currently assessing the impact of that standard and believes that it will not have any material impact on the Company’s disclosures to the consolidated financial statements. On August 5, 2020, the FASB issued ASU No. 2020-06, Debt -Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging -Contracts in Entity’s Own Equity (Subtopic 815-40). The objective of this update is to improve understandability and reduce complexity on distinguishing liabilities from equity. Amendments affect entities that issue convertible instruments and/or contracts indexed to and potentially settled in an entity’s own equity. The amendments in this update are effective for public business entities for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. Adoption is allowed through either a modified retrospective method of transition or a fully retrospective method of transition. The Company is currently assessing the impact of that standard and believes that it will not have any material impact on the Company’s disclosures to the consolidated financial statements. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies - Entities included in the consolidation (Table) | Summary of Significant Accounting Policies - Entities included in the consolidation (Table) Ownership Country of Statements of Operations Company Name Nature Interest Incorporation 2021 2020 2019 Navios Maritime Holdings Inc. Holding Company Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Navios South American Logistics Inc. Sub-Holding Company 63.8% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Navios Maritime Containers L.P. Holding Company 3.7% Marshall Is. — 1/1 – 8/29 11/30 - 12/31 Navios Corporation Sub-Holding Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Navios International Inc. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Navimax Corporation Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Navios Handybulk Inc. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Hestia Shipping Ltd. Operating Company 100% Malta 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Anemos Maritime Holdings Inc. Sub-Holding Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Navios Shipmanagement Inc. Management Company 100% Marshall Is. — 1/1 - 8/29 1/1 - 12/31 NAV Holdings Limited Sub-Holding Company 100% Malta 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Kleimar N.V. Operating Company/ Vessel Owning Company/ Management Company 100% Belgium 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Kleimar Ltd. Operating Company 100 Marshall Is. — 1/1 – 8/29 1/1 - 12/31 Bulkinvest S.A. Operating Company 100% Luxembourg 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Primavera Shipping Corporation Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Ginger Services Co. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Aquis Marine Corp. Sub-Holding Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Navios Tankers Management Inc. Management Company 100% Marshall Is. — 1/1 - 8/29 1/1 - 12/31 Astra Maritime Corporation Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Achilles Shipping Corporation Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Apollon Shipping Corporation Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Herakles Shipping Corporation Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Hios Shipping Corporation Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Ionian Shipping Corporation Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Kypros Shipping Corporation Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Meridian Shipping Enterprises Inc. Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Mercator Shipping Corporation Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Arc Shipping Corporation Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Horizon Shipping Enterprises Corporation Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Magellan Shipping Corporation Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Aegean Shipping Corporation Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Star Maritime Enterprises Corporation Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Corsair Shipping Ltd. Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Rowboat Marine Inc. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Rondine Management Corp . Vessel Owning Company 100% Marshall Is. 1/1 - 9/30 3/22 - 12/31 — Vernazza Shiptrade Inc. Operating Company 100% Marshall Is. 1/1 - 12/31 9/25-12/31 — Navios Corporation Management Inc. Operating Company 100% Marshall Is. — 7/4 -8/29 — Beaufiks Shipping Corporation Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Nostos Shipmanagement Corp. Vessel Owning Company 100% Marshall Is. 1/1 - 6/30 1/1 - 12/31 1/1 - 12/31 Portorosa Marine Corp. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Shikhar Ventures S.A. Vessel Owning Company 100% Liberia 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Sizzling Ventures Inc. Operating Company 100% Liberia 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Rheia Associates Co. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Taharqa Spirit Corp. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Rumer Holding Ltd. Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Pharos Navigation S.A. Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Pueblo Holdings Ltd. Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Quena Shipmanagement Inc. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Aramis Navigation Inc. Vessel Owning Company 100% Marshall Is. 1/1 - 7/9 1/1 - 12/31 1/1 - 12/31 White Narcissus Marine S.A. Vessel Owning Company 100% Panama 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Navios GP L.L.C. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Red Rose Shipping Corp. Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Highbird Management Inc. Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Ducale Marine Inc. Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Vector Shipping Corporation Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Faith Marine Ltd. Vessel Owning Company 100% Liberia 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Navios Maritime Finance (US) Inc. Operating Company 100% Delaware 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Navios Maritime Finance II (US) Inc. Operating Company 100% Delaware 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Tulsi Shipmanagement Co. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Cinthara Shipping Ltd. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Rawlin Services Company Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Mauve International S.A. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Serenity Shipping Enterprises Inc. Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Mandora Shipping Ltd Vessel Owning Company 100% Marshall Is. 1/1 - 3/30 1/1 - 12/31 1/1 - 12/31 Solange Shipping Ltd. Vessel Owning Company 100% Marshall Is. 1/1 - 3/30 1/1 - 12/31 1/1 - 12/31 Diesis Ship Management Ltd. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Navios Holdings Europe Finance Inc. Sub-Holding Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Navios Asia LLC Sub-Holding Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Iris Shipping Corporation Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Jasmine Shipping Corporation Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Emery Shipping Corporation Vessel Owning Company 100% Marshall Is. — 1/1 - 09/30 1/1 - 12/31 Lavender Shipping Corporation Vessel Owning Company 100% Marshall Is. 1/1 - 6/30 1/1 - 12/31 1/1 - 12/31 Esmeralda Shipping Corporation Vessel Owning Company 100% Marshall Is. — — 1/1 - 8/30 Triangle Shipping Corporation Vessel Owning Company 100% Marshall Is. — — 1/1 - 8/30 Roselite Shipping Corporation Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Smaltite Shipping Corporation Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Motiva Trading Ltd. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Alpha Merit Corporation Sub-Holding Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Thalassa Marine S.A. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/1 - 12/31 Asteroid Shipping S.A. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/12 - 12/31 Cloud Atlas Marine S.A. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 1/15 - 12/31 Heodor Shipping Inc. Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 2/13 - 12/31 Navios Maritime Containers GP LLC Operating Company 100% Marshall Is. — 1/1 - 8/29 9/11 - 12/31 Navios Containers Management Inc. Management Company 100% Marshall Is. — 1/1 - 8/29 1/1 - 12/31 Pacifico Navigation Corp. Vessel Owning Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 11/7 - 12/31 Rider Shipmanagement Inc. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 12/4 - 12/31 Talia Shiptrade S.A. Operating Company 100% Marshall Is. 1/1 - 12/31 1/1 - 12/31 10/11-12/31 Moonstone Shipping Corporation Vessel Owning Company 100 Marshall Is. 6/30 –12/31 — — Opal Shipping Corporation Vessel Owning Company 100% Marshall Is. 6/30 –12/31 — — Grimaud Ventures S.A. Operating Company 100% Marshall Is. 7/30-12/31 — — |
Summary of Significant Accounting Policies - Depreciation Periods (Table) | Summary of Significant Accounting Policies - Depreciation Periods (Table) Dry bulk vessels 25 years Port terminals 5 49 years Tanker vessels, barges and pushboats 15 45 years Furniture, fixtures and equipment 3 10 years Computer equipment and software 5 years Leasehold improvements shorter of lease term or 6 years |
Summary of Significant Accounting Policies - Finite lived acquired intangible assets (Table) | Summary of Significant Accounting Policies - Finite lived acquired intangible assets (Table) Intangible assets Years Trade name 32 Port terminal operating rights 47 Customer relationships 20 |
Summary of Significant Accounting Policies - Revenue per Category (Table) | Summary of Significant Accounting Policies - Revenue per Category (Table) Dry Bulk Vessel Operations for the Logistics Business Total COA/Voyage revenue $ 24,355 $ 77,485 $ 101,840 Time chartering revenue 337,018 41,446 378,464 Port terminal revenue — 78,740 78,740 Storage fees (dry port) revenue — 1,518 1,518 Dockage revenue — 3,876 3,876 Sale of products revenue — 13,776 13,776 Liquid port terminal revenue — 5,734 5,734 Other 969 901 1,870 Total $ 362,342 $ 223,476 $ 585,818 Dry Bulk Vessel Operations for the Logistics Business Total for the COA/Voyage revenue $ 6,660 $ 54,005 $ 60,665 Time chartering revenue 194,005 59,236 253,241 Port terminal revenue — 73,112 73,112 Storage fees (dry port) revenue — 3,364 3,364 Dockage revenue — 3,948 3,948 Sale of products revenue — 17,272 17,272 Liquid port terminal revenue — 4,606 4,606 Other 128 382 510 Total $ 200,793 $ 215,925 $ 416,718 Dry Bulk Vessel Operations for the Logistics Business Total COA/Voyage revenue $ 3,727 $ 49,488 $ 53,215 Time chartering revenue 250,187 76,680 326,867 Port terminal revenue — 80,180 80,180 Storage fees (dry port) revenue — 3,452 3,452 Dockage revenue — 4,310 4,310 Sale of products revenue — 9,384 9,384 Liquid port terminal revenue — 4,032 4,032 Other 264 745 1,009 Total $ 254,178 $ 228,271 $ 482,449 |
Sale of Management & Consolid_2
Sale of Management & Consolidation/Deconsolidation of Navios Containers (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Business Combinations [Abstract] | |
Sale of Management & Consolidation/Deconsolidation of Navios Containers - Gain on Sale (Table) | Sale of Management & Consolidation/Deconsolidation of Navios Containers - Gain on Sale (Table) Proceeds received: Cash consideration 3,000 Less: Transaction fees $ (1,088) 1,912 Carrying value of assets and liabilities: Net liabilities derecognized 158,795 Loan payable to NSM assumed (141,795) Book value of general partner interest in Navios Partners (3,212) Book value of Other fixed assets (6,213) Lease liability, net 315 7,890 Gain on sale $ 9,802 |
Sale of Management & Consolidation/Deconsolidation of Navios Containers - Discontinued Operations (Table) | Sale of Management & Consolidation/Deconsolidation of Navios Containers - Discontinued Operations (Table) Period from January 1 to August 30, 2019 Revenue $ 89,925 Time charter, voyage and port terminal expenses (3,976) Direct vessel expenses (44,088) General and administrative expenses (6,706) Depreciation and amortization (22,858) Interest expense and finance cost (10,519) Other expense, net (5,896) Net (loss)/income from discontinued operations $ (4,118) Less: Net loss/(income) attributable to the noncontrolling interest $ 3,968 Net (loss)/income attributable to Navios Holdings common stockholders $ (150) |
Cash and Cash Equivalents and_2
Cash and Cash Equivalents and Restricted Cash (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Cash and Cash Equivalents [Abstract] | |
Cash and Cash Equivalents and Restricted Cash (Table) | Cash and Cash Equivalents and Restricted Cash (Table) December 31, 2021 December 31, 2020 Cash on hand and at banks $ 53,547 $ 94,787 Short-term deposits and highly liquid funds 44 94 Restricted cash 84,260 16,303 Cash and cash equivalents and restricted cash $ 137,851 $ 111,184 |
Accounts Receivable, net (Table
Accounts Receivable, net (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Accounts Receivable Net | |
Accounts Receivable, Net (Table) | Accounts Receivable, Net (Table) December 31, 2021 December 31, 2020 Accounts receivable $ 79,935 $ 69,694 Less: Allowance for credit losses (17,096) (15,366) Accounts receivable, net $ 62,839 $ 54,328 |
Accounts Receivable, Net - Provisions for Doubtful Accounts (Table) | Accounts Receivable, Net - Provisions for Doubtful Accounts (Table) Allowance for credit losses Balance at Beginning of Period Charges to Costs and Expenses Amount Utilized Balance at End of Period Year ended December 31, 2019 $ (16,086) $ (999) $ 708 $ (16,377) Year ended December 31, 2020 $ (16,377) $ (541) $ 1,552 $ (15,366) Year ended December 31, 2021 $ (15,366) $ (1,831) $ 101 $ (17,096) |
Prepaid Expenses and Other Cu_2
Prepaid Expenses and Other Current Assets (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Prepaid Expenses and Other Current Assets (Table) | Prepaid Expenses and Other Current Assets (Table) December 31, 2021 December 31, 2020 Prepaid voyage and operating costs $ 5,086 $ 4,616 Claims receivable 6,397 4,136 Prepaid other taxes 1,084 2,604 Other 4,527 3,625 Total prepaid expenses and other current assets $ 17,094 $ 14,981 |
Vessels, Port Terminals and O_2
Vessels, Port Terminals and Other Fixed Assets, Net (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Property, Plant and Equipment [Abstract] | |
Vessels, Port Terminals and Other Fixed Assets (Table) | Vessels, Port Terminals and Other Fixed Assets (Table) Vessels Cost Accumulated Depreciation Net Book Value Balance December 31, 2018 $ 1,324,766 $ (390,982) $ 933,784 Additions 4,747 (48,812) (44,065) Vessel impairment (274,067) 159,834 (114,233) Disposals (48,830) — (48,830) Vessel acquisition 14,735 (44) 14,691 Balance December 31, 2019 $ 1,021,351 $ (280,004) $ 741,347 Additions 1,277 (36,438) (35,161) Vessel impairment (221,754) 137,255 (84,499) Disposals (87,823) — (87,823) Vessel acquisition 96,678 (2,820) 93,858 Write offs (153) — (153) Balance December 31, 2020 $ 809,576 $ (182,007) $ 627,569 Additions 4,949 (26,770) (21,821) Vessel impairment (89,888) 68,258 (21,630) Vessel Disposals (172,782) — (172,782) Vessel acquisition 16,049 — 16,049 Balance December 31, 2021 $ 567,904 $ (140,519) $ 427,385 Port Terminals (Navios Logistics) Cost Accumulated Depreciation Net Book Value Balance December 31, 2018 $ 253,360 $ (39,775) $ 213,585 Additions 602 (7,186) (6,584) Balance December 31, 2019 $ 253,962 $ (46,961) $ 207,001 Additions 869 (7,216) (6,347) Write offs (87) 76 (11) Balance December 31, 2020 $ 254,744 $ (54,101) $ 200,643 Additions 1,520 (7,629) (6,109) Transfers 5,646 — 5,646 Disposals (130) 169 39 Balance December 31, 2021 $ 261,780 $ (61,561) $ 200,219 Tanker vessels, barges and pushboats (Navios Logistics) Cost Accumulated Depreciation Net Book Value Balance December 31, 2018 $ 525,712 $ (182,584) $ 343,128 Additions 2,403 (19,038) (16,635) Write offs (2,064) 866 (1,198) Balance December 31, 2019 $ 526,051 $ (200,756) $ 325,295 Additions 1,931 (18,278) (16,347) Write offs (308) — (308) Balance December 31, 2020 $ 527,674 $ (219,034) $ 308,640 Additions 2,445 (20,763) (18,318) Impairment losses (27,339) 5,373 (21,966) Transfers 51,461 — 51,461 Balance December 31, 2021 $ 554,241 $ (234,424) $ 319,817 Containerships (Navios Containers) Cost Accumulated Depreciation Net Book Value Balance December 31, 2018 $ 400,896 $ (917) $ 399,979 Additions 1,715 (7,497) (5,782) Vessel acquisition 53,097 (649) 52,448 Navios Containers Deconsolidation (455,708) 9,063 (446,645) Balance December 31, 2019 $ — $ — $ — Other fixed assets Cost Accumulated Depreciation Net Book Value Balance December 31, 2018 $ 19,876 $ (11,897) $ 7,979 Additions 2,161 (1,056) 1,105 Write offs (14,206) 7,993 (6,213) Balance December 31, 2019 $ 7,831 $ (4,960) $ 2,871 Additions 488 (672) (184) Balance December 31, 2020 $ 8,319 $ (5,632) $ 2,687 Additions 385 (491) (106) Balance December 31, 2021 $ 8,704 $ (6,123) $ 2,581 Total Cost Accumulated Depreciation Net Book Value Balance December 31, 2018 $ 2,524,610 $ (626,155) $ 1,898,455 Additions 11,628 (83,589) (71,961) Vessel acquisition 67,832 (693) 67,139 Vessel impairment (274,067) 159,834 (114,233) Vessel disposals (48,830) — (48,830) Write offs (16,270) 8,859 (7,411) Navios Containers Deconsolidation (455,708) 9,063 (446,645) Balance December 31, 2019 $ 1,809,195 $ (532,681) $ 1,276,514 Additions 4,565 (62,604) (58,039) Vessel acquisition 96,678 (2,820) 93,858 Vessel impairment (221,754) 137,255 (84,499) Vessel disposals (87,823) — (87,823) Write offs (548) 76 (472) Balance December 31, 2020 $ 1,600,313 $ (460,774) $ 1,139,539 Additions 9,299 (55,653) (46,354) Vessel acquisition 16,049 — 16,049 Vessel impairment (117,227) 73,631 (43,596) Vessel Disposals (172,782) — (172,782) Disposal (130) 169 39 Transfers from other long-term assets 57,107 — 57,107 Balance December 31, 2021 $ 1,392,629 $ (442,627) $ 950,002 |
Intangible Assets other than _2
Intangible Assets other than Goodwill (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets other than Goodwill (Table) | Intangible Assets other than Goodwill (Table) Acquisition Cost Accumulated Amortization Net Book Value December 31, 2021 Trade name $ 90,000 $ (45,985) $ 44,015 Port terminal operating rights 53,152 (14,833) 38,319 Customer relationships 35,490 (24,843) 10,647 Total Intangible assets $ 178,642 $ (85,661) $ 92,981 Net Book Value of Intangible Assets other than Goodwill as at December 31, 2020 Acquisition Cost Accumulated Amortization Net Book Value December 31, 2020 Trade name $ 90,000 $ (43,175) $ 46,825 Port terminal operating rights 53,152 (13,835) 39,317 Customer relationships 35,490 (23,069) 12,421 Total Intangible assets $ 178,642 $ (80,079) $ 98,563 |
Intangible Assets other than Goodwill - Amortization Expense and Write Offs (Table) | Intangible Assets other than Goodwill - Amortization Expense and Write Offs (Table) Amortization Expense and Write Offs Year Ended December 31, 2021 Amortization Expense and Write Offs Year Ended December 31, 2020 Amortization Expense and Write Offs Year Ended December 31, 2019 Trade name $ 2,810 $ 2,818 $ 2,811 Port terminal operating rights 998 998 999 Customer relationships 1,774 1,775 1,774 Total $ 5,582 $ 5,591 $ 5,584 |
Intangible Assets other than Goodwill - Amortization Schedule (Table) | Intangible Assets other than Goodwill - Amortization Schedule (Table) Description Within one year Year Two Year Three Year Four Year Five Thereafter Total Trade name $ 2,811 $ 2,811 $ 2,811 $ 2,818 $ 2,811 $ 29,953 $ 44,015 Port terminal operating rights 995 995 995 995 995 33,344 38,319 Customer relationships 1,775 1,775 1,775 1,775 1,775 1,772 10,647 Total amortization $ 5,581 $ 5,581 $ 5,581 $ 5,588 $ 5,581 $ 65,069 $ 92,981 |
Investments in Affiliate Comp_2
Investments in Affiliate Companies and Investments in Available-for-Sale Securities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Investments in and Advances to Affiliates [Abstract] | |
Investments in Affiliate Companies and Investments in Available-for-Sale Securities - Financial Information of the Affiliate Companies - Balance Sheet (Table) | Investments in Affiliate Companies and Investments in Available-for-Sale Securities - Financial Information of the Affiliate Companies - Balance Sheet (Table) December 31, 2021 December 31, 2020 Balance sheet Navios Navios Navios Navios Navios Navios Cash and cash equivalents, including restricted cash $ 169,446 $ — $ — $ 30,728 $ 41,357 $ 7,573 Current assets $ 226,340 $ — $ — $ 60,780 $ 140,605 $ 16,684 Non-current assets $ 3,396,959 $ — $ — $ 1,146,489 $ 1,428,392 $ 414,106 Current liabilities $ 395,505 $ — $ — $ 253,252 $ 805,860 $ 39,862 Long- term debt including current portion, net $ 1,361,709 $ — $ — $ 486,857 $ 1,076,587 $ 232,159 Non-current liabilities $ 1,458,069 $ — $ — $ 299,187 $ 433,280 $ 199,383 |
Investments in Affiliate Companies and Investments in Available-for-Sale Securities - Financial Information of Affiliate Companies - Income Statement (Table) | Investments in Affiliate Companies and Investments in Available-for-Sale Securities - Financial Information of Affiliate Companies - Income Statement (Table) Income Statement Navios Partners 01/01/2021-12/31/2021 Navios Acquisition 01/01/2021-10/15/2021 Navios Containers 01/01/2021-03/31/2021 Revenue $ 713,175 $ 188,304 $ 43,763 Net income/(loss) $ 516,186 $ (6,307) $ 15,270 December 31, 2020 Income Statement Navios Partners Navios Acquisition Navios Europe II Navios Containers Revenue $ 226,771 $ 361,438 $ 17,059 $ 127,188 Net (loss)/income $ (68,541) $ 27,465 $ (26,661) $ 3,348 December 31, 2019 Income Statement Navios Partners Navios Acquisition Navios Europe I Navios Europe II Navios Containers Revenue $ 219,379 $ 280,117 $ 36,822 $ 46,718 $ 141,532 Net (loss)/income $ (62,134) $ (65,707) $ (18,575) $ (30,203) $ 7,507 |
Accrued Expenses and Other Li_2
Accrued Expenses and Other Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Payables and Accruals [Abstract] | |
Accrued Expenses and Other Liabilities (Table) | Accrued Expenses and Other Liabilities (Table) December 31, 2021 December 31, 2020 Payroll $ 7,913 $ 6,671 Accrued interest 45,445 55,650 Accrued voyage expenses 1,014 1,344 Audit fees and related services 375 225 Accrued taxes 9,006 7,911 Professional fees 417 470 Other accrued expenses 289 264 Total accrued expenses $ 64,459 $ 72,535 |
Borrowings (Tables)
Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Debt Disclosure [Abstract] | |
Borrowings (Table) | Borrowings (Table) Navios Holdings borrowings December 31, 2021 December 31, 2020 Loan Facility HCOB ($15,300) — 9,945 Loan Facility Credit Agricole ($23,000) — 11,100 Loan Facility Credit Agricole ($23,000) — 11,400 Loan Facility DVB Bank SE ($72,000) — 4,504 Loan Facility Alpha Bank ($31,000) — 20,200 Loan Facility Alpha Bank ($16,125) — 12,925 Sale and Leaseback Agreements 114,837 62,934 2022 Senior Secured Notes 155,000 305,000 2022 Notes 455,466 476,822 2024 Notes 8,626 8,626 NSM Loan (incl. accrued interest $306 and $526, respectively) 48,879 78,901 $50.0 million NSM Loan (including accrued interest of $326) — 50,326 $115.0 million NSM Loan (incl. accrued interest $571) 64,630 — Total Navios Holdings borrowings $ 847,438 $ 1,052,683 Navios Logistics borrowings December 31, 2021 December 31, 2020 2025 Logistics Senior Notes 500,000 500,000 Navios Logistics Notes Payable 12,463 17,842 Navios Logistics New BBVA Facility 12,000 22,000 Navios Logistics Alpha Bank Loan 7,700 9,100 Seller’s Credit Agreement for the construction of six liquid barges 11,213 11,047 Seller’s Credit Agreement for the Navios Logistics’ 2020 Fleet 15,000 — Other long-term loans — 46 Total Navios Logistics borrowings $ 558,376 $ 560,035 Total December 31, 2021 December 31, 2020 Total borrowings $ 1,405,814 $ 1,612,718 Less: current portion, net (307,451) (374,191) Less: deferred finance costs and discount, net (19,330) (28,289) Total long-term borrowings $ 1,079,033 $ 1,210,238 |
Borrowings - Principal payments (Table) | Borrowings - Principal payments (Table) Year 2022 (including total accrued interest of $877 of NSM Loan & $50.0 million NSM Loan) $ 308,912 2023 87,007 2024 211,161 2025 561,120 2026 177,343 2027 and thereafter 60,271 Total $ 1,405,814 |
Fair Value of Financial Instr_2
Fair Value of Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Fair Value Of Financial Instruments | |
Fair Value of Financial Instruments - Fair Value (Table) | Fair Value of Financial Instruments - Fair Value (Table) December 31, 2021 December 31, 2020 Book Value Fair Value Book Value Fair Value Cash and cash equivalents $ 53,591 $ 53,591 $ 94,881 $ 94,881 Restricted cash $ 84,260 $ 84,260 $ 16,303 $ 16,303 Investments in available-for-sale-securities $ 219 $ 219 $ 222 $ 222 Senior and ship mortgage notes, net $ (1,101,931) $ (1,142,545) $ (1,263,566) $ (1,054,616) Long-term debt, including current portion $ (171,919) $ (173,213) $ (191,636) $ (193,043) Loans payable to affiliate companies, including current portion $ (112,634) $ (112,634) $ (129,227) $ (129,227) |
Fair Value of Financial Instruments - Fair value measurements on a recurring basis (Table) | Fair Value of Financial Instruments - Fair value measurements on a recurring basis (Table) Fair Value Measurements as of December 31, 2021 Total Quoted Prices in Active Markets for Identical Assets (Level I) Significant Other Observable Inputs (Level II) Significant Unobservable Inputs (Level III) Investments in available-for-sale-securities $ 219 $ 219 $ — $ — Total $ 219 $ 219 $ — $ — Fair Value Measurements as of December 31, 2020 Total Quoted Prices in Active Markets for Identical Assets (Level I) Significant Other Observable Inputs (Level II) Significant Unobservable Inputs (Level III) Investments in available-for-sale-securities $ 222 $ 222 $ — $ — Total $ 222 $ 222 $ — $ — |
Fair Value of Financial Instruments - Assets measured at Fair Value on a Non-Recurring Basis (Table) | Fair Value of Financial Instruments - Assets measured at Fair Value on a Non-Recurring Basis (Table) Fair Value Measurements as of December 31, 2021 Total Quoted Prices in Active Markets for Identical Assets (Level I) Significant Other Observable Inputs (Level II) Significant Unobservable Inputs (Level III) Vessels, port terminals and other fixed assets, net $ 7,500 $ — $ 7,500 $ — Total $ 7,500 $ — $ 7,500 $ — Navios Logistics recorded an impairment loss of $ 21,966 7,500 As of December , 2020, the Company’s assets measured at fair value on a non-recurring basis were Fair Value Measurements as of December 31, 2020 Total Quoted Prices in Active Markets for Identical Assets (Level I) Significant Other Observable Inputs (Level II) Significant Unobservable Inputs (Level III) Vessels, port terminals and other fixed assets, net $ 38,054 $ 6,644 $ 31,410 $ — Operating lease assets $ 10,018 $ — $ 10,018 $ — Total $ 48,072 $ 6,644 $ 41,428 $ — |
Fair Value of Financial Liabilities - Non-Recurring Measurements (Table) | Fair Value of Financial Liabilities - Non-Recurring Measurements (Table) Fair Value Measurements at December 31, 2021 Total (Level I) (Level II) (Level III) Cash and cash equivalents $ 53,591 $ 53,591 $ — $ — Restricted cash $ 84,260 $ 84,260 $ — $ — Investments in available-for-sale-securities $ 219 $ 219 $ — $ — Senior and ship mortgage notes $ (1,142,545) $ (1,133,919) $ (8,626) $ — Long-term debt, including current portion (1) $ (173,213) $ — $ (173,213) $ — Loans payable to affiliate companies, including current portion $ (112,634) $ — $ (112,634) $ — Fair Value Measurements at December 31, 2020 Total (Level I) (Level II) (Level III) Cash and cash equivalents $ 94,881 $ 94,881 $ — $ — Restricted cash $ 16,303 $ 16,303 $ — $ — Investments in available-for-sale-securities $ 222 $ 222 $ — $ — Loan receivable from affiliate companies (2) $ — $ — $ — $ — Long-term receivable from affiliate company $ — $ — $ — $ — Senior and ship mortgage notes $ (1,054,616) $ (1,045,990) $ (8,626) $ — Long-term debt, including current portion (1) $ (193,043) $ — $ (193,043) $ — Loans payable to affiliate companies, including current portion $ (129,227) $ — $ (129,227) $ — Long-term payable to affiliate companies (2) $ — $ — $ — $ — (1) The fair value of the Company’s long-term debt is estimated based on currently available debt with similar contract terms, interest rates and remaining maturities, published quoted market prices as well as taking into account the Company’s creditworthiness. (2) The fair value of the Company’s loan receivable from/payable to affiliate companies and long-term receivable from/payable to affiliate companies is estimated based on currently available debt with similar contract terms, interest rate and remaining maturities as well as taking into account the counterparty’s creditworthiness. |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Share-based Payment Arrangement [Abstract] | |
Employee Benefit Plans (Table) | Employee Benefit Plans (Table) Options Shares Weighted average exercise price Weighted average remaining term Aggregate fair value Outstanding as of December 31, 2018 661,977 28.2 3.36 5,696 Vested at December 31, 2018 116,667 — — — Exercisable at December 31, 2018 116,667 — — — Forfeited or expired (132,209) — — (682) Outstanding as of December 31, 2019 529,768 26.6 2.96 5,014 Vested at December 31, 2019 83,333 — — — Exercisable at December 31, 2019 83,333 — — — Forfeited or expired (67,475) — — (1,199) Outstanding as of December 31, 2020 462,293 17.9 2.25 3,815 Vested at December 31, 2020 — — — — Exercisable at December 31, 2020 — — — — Forfeited or expired (112,293) — — (1,084) Outstanding as of December 31, 2021 350,000 12.0 1.66 2,730 Restricted stock and restricted stock units Non Vested as of December 31, 2018 709,710 $ — 3.11 $ 6,490 Granted 167,515 — — 476 Vested (180,469) — — (1,595) Forfeited or expired (3,367) — — (42) Non Vested as of December 31, 2019 693,389 $ — 2.32 $ 5,329 Granted — — — — Vested (309,664) — — (2,858) Forfeited or expired (1,345) — — (17) Non Vested as of December 31, 2020 382,380 $ — 1.72 2,453 Granted 16,000 — — 36 Vested (226,075) — — (1,816) Forfeited or expired (894) — — (6) Non Vested as of December 31, 2021 171,412 $ — 1.17 667 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Leases [Abstract] | |
Leases - Operating Lease Assets and Liabilities (Table) | Leases - Operating Lease Assets and Liabilities (Table) Dry Bulk Vessel Operations December 31, 2021 Dry Bulk Vessel Operations December 31, 2020 Logistics Business December 31, 2021 Logistics Business December 31, 2020 Total December 31, 2021 Total December 31, 2020 Operating lease assets Charter-in contracts (1) $ 164,268 $ 219,574 $ — $ — $ 164,268 $ 219,574 Land lease agreements — — 8,077 7,878 8,077 7,878 Office lease agreements — — 1,081 510 1,081 510 Total $ 164,268 $ 219,574 $ 9,158 $ 8,388 $ 173,426 $ 227,962 Operating lease liabilities, current portion Charter-in contracts $ 54,490 $ 81,276 $ — $ — $ 54,490 $ 81,276 Land lease agreements — — (182) (199) (182) (199) Office lease agreements — — 439 338 439 338 Total $ 54,490 $ 81,276 $ 257 $ 139 $ 54,747 $ 81,415 Operating lease liabilities, net of current portion Charter-in contracts $ 135,338 $ 185,092 $ — $ — $ 135,338 $ 185,092 Land lease agreements — — 8,259 8,077 8,259 8,077 Office lease agreements — — 642 182 642 182 Total $ 135,338 $ 185,092 $ 8,901 $ 8,259 $ 144,239 $ 193,351 (1) Based on the net present value of the remaining charter-in and rental payments for existing operating leases. |
Leases - Lease Expenses (Table) | Leases - Lease Expenses (Table) Dry Bulk Vessel Operations Year Ended December 31, 2021 Logistics Business Year Ended December 31, 2021 Total Lease expense for charter-in contracts $ 73,124 $ 5,887 $ 79,011 Lease expense for land lease agreements — 571 571 Lease expense for office lease agreements — 307 307 Total $ 73,124 $ 6,765 $ 79,889 Dry Bulk Vessel Operations Year Ended December 31, 2020 Logistics Business Year Ended December 31, 2020 Total Lease expense for charter-in contracts $ 94,545 $ 6,587 $ 101,132 Lease expense for land lease agreements — 564 564 Lease expense for office lease agreements — 600 600 Total $ 94,545 $ 7,751 $ 102,296 Dry Bulk Vessel Operations Year Ended December 31, 2019 Logistics Business Year Ended December 31, 2019 Total Lease expense for charter-in contracts $ 117,562 $ 3,865 $ 121,427 Lease expense for land lease agreements — 552 552 Lease expense for office lease agreements 1,825 676 2,501 Total $ 119,387 $ 5,093 $ 124,480 |
Leases - Total amount of lease payments on an undiscounted basis (Table) | Leases - Total amount of lease payments on an undiscounted basis (Table) Charter-in vessels in operation Land Leases Office space December 31, 2022 $ 68,145 $ 556 $ 514 December 31, 2023 55,103 556 414 December 31, 2024 39,788 556 182 December 31, 2025 19,076 556 60 December 31, 2026 15,142 556 53 December 31, 2027 and thereafter 30,793 21,889 — Total $ 228,047 $ 24,669 $ 1,223 Operating lease liabilities, including current portion $ 189,828 $ 8,077 $ 1,081 Discount based on incremental borrowing rate $ 38,219 $ 16,592 $ 142 |
Leases - Future Revenue for Chartered-out Vessels, Barges, Pushboats and for Logistics Business (Table) | Leases - Future Revenue for Chartered-out Vessels, Barges, Pushboats and for Logistics Business (Table) Dry bulk vessels Logistics business 2022 79,330 131,588 2023 — 113,651 2024 — 96,724 2025 — 83,910 2026 — 54,962 2027 and thereafter — 572,033 Total minimum revenue, net of commissions $ 79,330 $ 1,052,868 |
Interest Expense and Finance _2
Interest Expense and Finance Cost (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Interest Expense And Finance Cost | |
Interest Expense and Finance Cost (Table) | Interest Expense and Finance Cost (Table) For the Year Ended December 31, 2021 For the Year Ended December 31, 2020 For the Year Ended December 31, 2019 Interest expense $ 136,055 $ 128,696 $ 125,496 Amortization and write-off of deferred financing costs 8,870 7,863 7,746 Other 84 — 237 Interest expense and financing cost $ 145,009 $ 136,559 $ 133,479 |
Segment Information (Tables)
Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Segment Reporting [Abstract] | |
Segment Information (Table) | Segment Information (Table) Dry Bulk Vessel Operations for the Year Ended December 31, 2021 Logistics Business for the Year Ended December 31, 2021 Total for the Year Ended December 31, 2021 Revenue $ 362,343 $ 223,475 $ 585,818 Interest income 26 230 256 Interest expense and finance cost (1) (80,450) (64,559) (145,009) Depreciation and amortization (29,582) (31,653) (61,235) Equity in net earnings of affiliate companies 69,275 — 69,275 Net income attributable to Navios Holdings common stockholders 140,651 (2) (23,965) (3) 116,686 Total assets 1,200,255 608,523 1,808,778 Goodwill 56,240 104,096 160,336 Capital expenditures (24,950) (23,848) (48,798) Investment in affiliate companies 125,744 — 125,744 Cash and cash equivalents 21,011 32,580 53,591 Restricted cash 84,260 — 84,260 Long-term debt, net (including current and noncurrent portion) $ 844,134 $ 542,350 $ 1,386,484 (1) Interest expense and finance cost for the year ended December 31, 2021 excludes $4,404 relating to the intercompany interest of the Grimaud loan, which is eliminated upon consolidation. (2) The Dry Bulk Vessel Operations net income is adjusted to exclude the mark to market loss of $2,559 for the year ended December 31, 2021, following the repayment of the Grimaud loan in Shares which is eliminated upon consolidation. (3) The Logistics Business net income is adjusted for the items referred in footnote (1) above as well as the mark to market loss of $24,169 recognized in Navios Logistics statement of income for the year ended December 31, 2021, following the repayment of the Grimaud loan and the s ale of the Shares which is eliminated upon consolidation. Dry Bulk Vessel Operations for the Year Ended December 31, 2020 Logistics Business for the Year Ended December 31, 2020 Total for the Year Ended December 31, 2020 Revenue $ 200,794 $ 215,924 $ 416,718 Interest income 48 209 257 Interest expense and financing cost (88,237 ) (48,322) (136,559) Depreciation and amortization (42,076) (28,939) (71,015) Equity in net losses of affiliate companies (1,293) — (1,293) Net (loss)/ income attributable to Navios Holdings common stockholders (192,207) (754) (192,961) Total assets 1,316,936 654,389 1,971,325 Goodwill 56,240 104,096 160,336 Capital expenditures (99,068) (8,441) (107,509) Investment in affiliate companies 56,988 — 56,988 Cash and cash equivalents 20,011 74,870 94,881 Restricted cash 16,303 — 16,303 Long-term debt, net (including current and noncurrent portion) $ 1,043,839 $ 540,590 $ 1,584,429 Dry Bulk Vessel Operations for the Year Ended December 31, 2019 Logistics Business for the Year Ended December 31, 2019 Total for the Year Ended December 31, 2019 Revenue $ 254,178 $ 228,271 $ 482,449 Administrative fee revenue from affiliate companies 16,991 — 16,991 Interest income 9,610 1,052 10,662 Interest expense and financing cost (92,948) (40,531) (133,479) Depreciation and amortization (52,288) (29,435) (81,723) Equity in net losses of affiliate companies (9,185) — (9,185) Net (loss)/ income attributable to Navios Holdings common stockholders (209,096) 16,986 (192,110) Total assets 1,511,517 631,338 2,142,855 Goodwill 56,240 104,096 160,336 Capital expenditures (36,628) (7,943) (44,571) Investment in affiliate companies 64,352 — 64,352 Cash and cash equivalents 32,386 45,605 77,991 Restricted cash 736 — 736 Long-term debt, net (including current and noncurrent portion) $ 1,048,318 $ 514,929 $ 1,563,247 |
Segment Information - Revenue by Geographic Region (Table) | Segment Information - Revenue by Geographic Region (Table) Year ended December 31, 2021 Year ended December 31, 2020 Year ended December 31, 2019 North America $ — $ — $ 2,259 Australia 11,905 2,055 — Europe 184,786 132,582 179,009 Asia 155,123 63,610 67,468 South America 234,004 218,442 232,394 Other — 28 1,319 Total $ 585,818 $ 416,718 $ 482,449 |
Earnings_(Loss) per Common Sh_2
Earnings/(Loss) per Common Share (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Earnings Per Share [Abstract] | |
Earnings/(Loss) per Common Share - Earnings/(Loss) per share, basic and diluted (Table) | Earnings/(Loss) per Common Share - Earnings/(Loss) per share, basic and diluted (Table) Year ended December 31, 2021 Year ended December 31, 2020 Year ended December 31, 2019 Numerator: Net income/(loss) attributable to Navios Holdings common stockholders $ 116,686 $ (192,961) $ (192,110) Less: Undeclared dividend on preferred stock and on unvested restricted shares (5,127) (5,144) (7,178) Plus: Tender Offer — Redemption of preferred stock Series G and H including $16,863 of undeclared preferred dividend cancelled — — 45,680 Gain from eliminated dividend on preferred stock due to conversion — 166 — Income/(Loss) attributable to Navios Holdings common stockholders, basic and diluted $ 111,559 $ (197,939) $ (153,608) Denominator: Denominator for basic earnings/ (loss) per share attributable to Navios Holdings common stockholders — weighted average shares 16,168,329 12,896,568 12,356,024 Basic earnings/ (loss) per share attributable to Navios Holdings commonstockholders $ 6.90 $ (15.35) $ (12.43) Denominator for diluted earnings/ (loss) per share attributable to Navios Holdings common stockholders — weighted average shares 16,553,011 12,896,568 12,356,024 Diluted earnings/ (loss) per share attributable to Navios Holdings common stockholders 6.74 $ (15.35) $ (12.43) |
Description of Business (Detail
Description of Business (Details Narrative) - USD ($) $ in Thousands | 4 Months Ended | 12 Months Ended | ||||
Apr. 30, 2020 | Apr. 21, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Oct. 09, 2013 | |
Junior Loan II [Member] | ||||||
Repayments of Debt | $ 5,000 | |||||
Navios Partners [Member] | ||||||
Trading Symbol | NMM | |||||
Economic interests | 10.30% | |||||
Navios Containers [Member] | ||||||
Ownership percentage of Navios Holdings | 0.00% | 3.90% | ||||
Navios Acquisition [Member] | ||||||
Ownership percentage of Navios Holdings | 0.00% | 29.50% | ||||
Navios Europe I [Member] | ||||||
Liquidation date | December 2019 | |||||
Navios Europe II [Member] | ||||||
Liquidation date | June 2020 | |||||
Navios Europe II [Member] | Junior Loan II [Member] | ||||||
Repayments of Debt | $ 5,000 | $ 5,000 | ||||
Navios Logistics [Member] | ||||||
Incorporation date | Dec. 17, 2007 | |||||
Ownership percentage of Navios Holdings | 63.80% | |||||
Navios Holdings [Member] | Navios Europe I [Member] | ||||||
Economic interests | 47.50% | |||||
Voting interests | 50.00% | |||||
Navios Holdings [Member] | Navios Europe II [Member] | ||||||
Economic interests | 47.50% | |||||
Voting interests | 50.00% | |||||
Navios Acquisition [Member] | Navios Europe I [Member] | ||||||
Economic interests | 47.50% | |||||
Voting interests | 50.00% | |||||
Navios Acquisition [Member] | Navios Europe II [Member] | ||||||
Economic interests | 47.50% | |||||
Voting interests | 50.00% | |||||
Navios Partners [Member] | Navios Europe I [Member] | ||||||
Economic interests | 5.00% | |||||
Voting interests | 0.00% | |||||
Navios Partners [Member] | Navios Europe II [Member] | ||||||
Economic interests | 5.00% | |||||
Voting interests | 0.00% |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Entities included in the consolidation (Table) (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Navios Maritime Holdings Inc. [Member] | |
Nature | Holding Company |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Navios Logistics [Member] | |
Nature | Sub-Holding Company |
Ownership interest | 63.80% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Navios Maritime Containers L.P. [Member] | |
Nature | Holding Company |
Ownership interest | 3.70% |
Country of Incorporation | Marshall Is. |
2021 | |
2020 | 1/1 – 8/29 |
2019 | 11/30 - 12/31 |
Navios Corporation [Member] | |
Nature | Sub-Holding Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Navios International Inc. [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Navimax Corporation [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Navios Handybulk Inc. [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Hestia Shipping Ltd. [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Malta |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Anemos Maritime Holdings Inc. [Member] | |
Nature | Sub-Holding Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Navios Shipmanagement Inc. [Member] | |
Nature | Management Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | |
2020 | 1/1 - 8/29 |
2019 | 1/1 - 12/31 |
NAV Holdings Limited [Member] | |
Nature | Sub-Holding Company |
Ownership interest | 100.00% |
Country of Incorporation | Malta |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Kleimar N.V. [Member] | |
Nature | Operating Company/ Vessel Owning Company/ Management Company |
Ownership interest | 100.00% |
Country of Incorporation | Belgium |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Kleimar Ltd. [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | |
2020 | 1/1 – 8/29 |
2019 | 1/1 - 12/31 |
Bulkinvest S.A. [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Luxembourg |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Primavera Shipping Corporation [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Ginger Services Co. [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Aquis Marine Corp. [Member] | |
Nature | Sub-Holding Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Navios Tankers Management Inc. [Member] | |
Nature | Management Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | |
2020 | 1/1 - 8/29 |
2019 | 1/1 - 12/31 |
Astra Maritime Corporation [Member] | |
Nature | Vessel Owning Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Achilles Shipping Corporation [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Apollon Shipping Corporation [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Herakles Shipping Corporation [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Hios Shipping Corporation [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Ionian Shipping Corporation [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Kypros Shipping Corporation [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Meridian Shipping Enterprises Inc. [Member] | |
Nature | Vessel Owning Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Mercator Shipping Corporation [Member] | |
Nature | Vessel Owning Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Arc Shipping Corporation [Member] | |
Nature | Vessel Owning Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Horizon Shipping Enterprises Corporation [Member] | |
Nature | Vessel Owning Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Magellan Shipping Corporation [Member] | |
Nature | Vessel Owning Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Aegean Shipping Corporation [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Star Maritime Enterprises Corporation [Member] | |
Nature | Vessel Owning Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Corsair Shipping Ltd. [Member] | |
Nature | Vessel Owning Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Rowboat Marine Inc. [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Rondine Management Corp. [Member] | |
Nature | Vessel Owning Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 9/30 |
2020 | 3/22 - 12/31 |
2019 | |
Vernazza Shiptrade Inc. [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 9/25-12/31 |
2019 | |
Navios Corporation Management Inc. [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | |
2020 | 7/4 -8/29 |
2019 | |
Beaufiks Shipping Corporation [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Nostos Shipmanagement Corp. [Member] | |
Nature | Vessel Owning Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 6/30 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Portorosa Marine Corp. [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Shikhar Ventures S.A. [Member] | |
Nature | Vessel Owning Company |
Ownership interest | 100.00% |
Country of Incorporation | Liberia |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Sizzling Ventures Inc. [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Liberia |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Rheia Associates Co. [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Taharqa Spirit Corp. [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Rumer Holding Ltd. [Member] | |
Nature | Vessel Owning Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Pharos Navigation S.A. [Member] | |
Nature | Vessel Owning Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Pueblo Holdings Ltd. [Member] | |
Nature | Vessel Owning Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Quena Shipmanagement Inc. [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Aramis Navigation Inc. [Member] | |
Nature | Vessel Owning Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 7/9 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
White Narcissus Marine S.A. [Member] | |
Nature | Vessel Owning Company |
Ownership interest | 100.00% |
Country of Incorporation | Panama |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Navios GP L.L.C. [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Red Rose Shipping Corp. [Member] | |
Nature | Vessel Owning Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Highbird Management Inc. [Member] | |
Nature | Vessel Owning Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Ducale Marine Inc. [Member] | |
Nature | Vessel Owning Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Vector Shipping Corporation [Member] | |
Nature | Vessel Owning Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Faith Marine Ltd. [Member] | |
Nature | Vessel Owning Company |
Ownership interest | 100.00% |
Country of Incorporation | Liberia |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Navios Maritime Finance (US) Inc. [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Delaware |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Navios Maritime Finance II (US) Inc. [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Delaware |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Tulsi Shipmanagement Co. [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Cinthara Shipping Ltd. [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Rawlin Services Company [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Mauve International S.A. [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Serenity Shipping Enterprises Inc. [Member] | |
Nature | Vessel Owning Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Mandora Shipping Ltd. [Member] | |
Nature | Vessel Owning Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 3/30 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Solange Shipping Ltd. [Member] | |
Nature | Vessel Owning Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 3/30 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Diesis Ship Management Ltd. [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Navios Holdings Europe Finance Inc. [Member] | |
Nature | Sub-Holding Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Navios Asia LLC [Member] | |
Nature | Sub-Holding Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Iris Shipping Corporation [Member] | |
Nature | Vessel Owning Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Jasmine Shipping Corporation [Member] | |
Nature | Vessel Owning Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Emery Shipping Corporation [Member] | |
Nature | Vessel Owning Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | |
2020 | 1/1 - 09/30 |
2019 | 1/1 - 12/31 |
Lavender Shipping Corporation [Member] | |
Nature | Vessel Owning Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 6/30 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Esmeralda Shipping Corporation [Member] | |
Nature | Vessel Owning Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | |
2020 | |
2019 | 1/1 - 8/30 |
Triangle Shipping Corporation [Member] | |
Nature | Vessel Owning Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | |
2020 | |
2019 | 1/1 - 8/30 |
Roselite Shipping Corporation [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Smaltite Shipping Corporation [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Motiva Trading Ltd. [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Alpha Merit Corporation [Member] | |
Nature | Sub-Holding Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Thalassa Marine S.A. [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/1 - 12/31 |
Asteroid Shipping S.A. [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/12 - 12/31 |
Cloud Atlas Marine S.A. [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 1/15 - 12/31 |
Heodor Shipping Inc. [Member] | |
Nature | Vessel Owning Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 2/13 - 12/31 |
Navios Maritime Containers GP LLC [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | |
2020 | 1/1 - 8/29 |
2019 | 9/11 - 12/31 |
Navios Containers Management Inc. [Member] | |
Nature | Management Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | |
2020 | 1/1 - 8/29 |
2019 | 1/1 - 12/31 |
Pacifico Navigation Corp. [Member] | |
Nature | Vessel Owning Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 11/7 - 12/31 |
Rider Shipmanagement Inc. [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 12/4 - 12/31 |
Talia Shiptrade S.A. [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 1/1 - 12/31 |
2020 | 1/1 - 12/31 |
2019 | 10/11-12/31 |
Moonstone Shipping Corporation [Member] | |
Nature | Vessel Owning Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 6/30 –12/31 |
2020 | |
2019 | |
Opal Shipping Corporation [Member] | |
Nature | Vessel Owning Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 6/30 –12/31 |
2020 | |
2019 | |
Grimaud Ventures S.A. [Member] | |
Nature | Operating Company |
Ownership interest | 100.00% |
Country of Incorporation | Marshall Is. |
2021 | 7/30-12/31 |
2020 | |
2019 |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Depreciation Periods (Table) (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Dry bulk vessels [Member] | |
Property, Plant and Equipment [Line Items] | |
Useful life assets | 25 years |
Port terminals [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Useful life assets | 5 years |
Port terminals [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Useful life assets | 49 years |
Tanker vessels, barges and pushboats [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Useful life assets | 15 years |
Tanker vessels, barges and pushboats [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Useful life assets | 45 years |
Furniture, fixtures and equipment [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Useful life assets | 3 years |
Furniture, fixtures and equipment [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Useful life assets | 10 years |
Computer equipment and software [Member] | |
Property, Plant and Equipment [Line Items] | |
Useful life assets | 5 years |
Leasehold Improvements [Member] | |
Property, Plant and Equipment [Line Items] | |
Useful life assets | shorter of lease term or 6 years |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - Finite lived acquired intangible assets (Table) (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Trade name [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Weighted average amortization periods | 32 years |
Port terminal operating rights [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Weighted average amortization periods | 47 years |
Customer Relationships [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Weighted average amortization periods | 20 years |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies - Revenue per Category (Table) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue | $ 585,818 | $ 416,718 | $ 482,449 |
COA/Voyage revenue [Member] | |||
Revenue | 101,840 | 60,665 | 53,215 |
Time chartering revenue [Member] | |||
Revenue | 378,464 | 253,241 | 326,867 |
Port terminal revenue [Member] | |||
Revenue | 78,740 | 73,112 | 80,180 |
Storage fees (dry port) revenue [Member] | |||
Revenue | 1,518 | 3,364 | 3,452 |
Dockage revenue [Member] | |||
Revenue | 3,876 | 3,948 | 4,310 |
Sale of products revenue [Member] | |||
Revenue | 13,776 | 17,272 | 9,384 |
Liquid port terminal revenue [Member] | |||
Revenue | 5,734 | 4,606 | 4,032 |
Other [Member] | |||
Revenue | 1,870 | 510 | 1,009 |
Dry Bulk Vessel Operations [Member] | |||
Revenue | 362,342 | 200,793 | 254,178 |
Dry Bulk Vessel Operations [Member] | COA/Voyage revenue [Member] | |||
Revenue | 24,355 | 6,660 | 3,727 |
Dry Bulk Vessel Operations [Member] | Time chartering revenue [Member] | |||
Revenue | 337,018 | 194,005 | 250,187 |
Dry Bulk Vessel Operations [Member] | Port terminal revenue [Member] | |||
Revenue | 0 | 0 | 0 |
Dry Bulk Vessel Operations [Member] | Storage fees (dry port) revenue [Member] | |||
Revenue | 0 | 0 | 0 |
Dry Bulk Vessel Operations [Member] | Dockage revenue [Member] | |||
Revenue | 0 | 0 | 0 |
Dry Bulk Vessel Operations [Member] | Sale of products revenue [Member] | |||
Revenue | 0 | 0 | 0 |
Dry Bulk Vessel Operations [Member] | Liquid port terminal revenue [Member] | |||
Revenue | 0 | 0 | 0 |
Dry Bulk Vessel Operations [Member] | Other [Member] | |||
Revenue | 969 | 128 | 264 |
Logistics Business [Member] | |||
Revenue | 223,476 | 215,925 | 228,271 |
Logistics Business [Member] | COA/Voyage revenue [Member] | |||
Revenue | 77,485 | 54,005 | 49,488 |
Logistics Business [Member] | Time chartering revenue [Member] | |||
Revenue | 41,446 | 59,236 | 76,680 |
Logistics Business [Member] | Port terminal revenue [Member] | |||
Revenue | 78,740 | 73,112 | 80,180 |
Logistics Business [Member] | Storage fees (dry port) revenue [Member] | |||
Revenue | 1,518 | 3,364 | 3,452 |
Logistics Business [Member] | Dockage revenue [Member] | |||
Revenue | 3,876 | 3,948 | 4,310 |
Logistics Business [Member] | Sale of products revenue [Member] | |||
Revenue | 13,776 | 17,272 | 9,384 |
Logistics Business [Member] | Liquid port terminal revenue [Member] | |||
Revenue | 5,734 | 4,606 | 4,032 |
Logistics Business [Member] | Other [Member] | |||
Revenue | $ 901 | $ 382 | $ 745 |
Summary of Significant Accoun_8
Summary of Significant Accounting Policies (Details Narrative) | 12 Months Ended | ||||||
Dec. 31, 2021USD ($)$ / sharesshares | Dec. 31, 2020USD ($)$ / shares | Dec. 31, 2019USD ($)$ / shares | Mar. 31, 2022USD ($) | Oct. 31, 2021USD ($) | Sep. 30, 2021USD ($) | Jul. 31, 2021USD ($) | |
Document Accounting Standard | U.S. GAAP | ||||||
Assets, Current | $ 229,447,000 | $ 194,857,000 | |||||
Current liabilities, excluding operating lease liabilities | 442,701,000 | ||||||
Working capital deficit | 213,254,000 | ||||||
Long-term Debt, Current Maturities | 307,451,000 | 374,191,000 | |||||
Senior Notes | 1,101,931,000 | 1,263,566,000 | |||||
Restricted Cash and Cash Equivalents, Current | 84,260,000 | $ 16,303,000 | |||||
Annual growth factor management fees every second year | 3.00% | ||||||
Amortization of deferred dry dock and special survey costs | 11,084,000 | $ 10,255,000 | $ 11,067,000 | ||||
Amortization and write-off of deferred financing | 8,870,000 | 7,863,000 | 8,242,000 | ||||
Goodwill | 160,336,000 | 160,336,000 | |||||
Foreign Currency Transaction Gain (Loss), Realized | 2,630,000 | 546,000 | (967,000) | ||||
Provision for losses on vessels time charter | $ 0 | $ 0 | |||||
Number of Reportable Segments | 2 | 3 | |||||
Income Tax Expense (Benefit) | $ 4,817,000 | $ 2,052,000 | 1,475,000 | ||||
Payments of Ordinary Dividends, Common Stock | 0 | ||||||
Payments of Ordinary Dividends, Preferred Stock and Preference Stock | $ 0 | ||||||
Preferred Stock, Par or Stated Value Per Share | $ / shares | $ 0.0001 | $ 0.0001 | |||||
Convertible Preferred Stock [Member] | |||||||
Preferred Stock, Par or Stated Value Per Share | $ / shares | $ 0.0001 | ||||||
Preferred Stock, Dividend Rate, Percentage | 2.00% | ||||||
Preferred Stock, Convertible, Terms | Five years after the issuance date, 30.0% of the then-outstanding shares of Preferred Stock automatically converted into shares of common stock at a conversion price equal to $10.00 per share of common stock with the remaining balance of the then-outstanding shares of Preferred Stock converted into shares of common stock under the same terms 10 years after their issuance date. | ||||||
Preferred Stock, Redemption Price Per Share | $ / shares | $ 10 | ||||||
American Depositary Shares Series G [Member] | |||||||
Preferred Stock, Dividend Rate, Percentage | 8.75% | ||||||
Number of shares | shares | 2,000,000 | ||||||
Preferred Stock, Liquidation Preference Per Share | $ / shares | $ 2,500,000 | ||||||
Preferred Stock, Redemption Price Per Share | $ / shares | $ 25 | ||||||
American Depositary Shares Series H [Member] | |||||||
Preferred Stock, Dividend Rate, Percentage | 8.625% | ||||||
Number of shares | shares | 4,800,000 | ||||||
Preferred Stock, Liquidation Preference Per Share | $ / shares | $ 2,500,000 | ||||||
Preferred Stock, Redemption Price Per Share | $ / shares | $ 25 | ||||||
American Depositary Shares Series G and H [Member] | |||||||
Preferred Stock, Redemption Terms | Each of the shares represents 1/100th of a share of the Series G, with a liquidation preference of $2,500.00 per share ($25.00 per American Depositary Share). | ||||||
Argentina [Member] | |||||||
Effective Income Tax Rate Reconciliation, Percent | 35.00% | ||||||
Income Tax Expense (Benefit) | $ 2,112 | $ 208 | |||||
Severance and retirement compensation plan [Member] | |||||||
Description of defined contribution pension and other postretirement plans | The amount of compensation was based on the number of years of service and the amount of remuneration at the date of dismissal or retirement up to a maximum of two years’ salary. If the employees remained in the employment of the Company until normal retirement age, they were entitled to retirement compensation equal to 40% of the compensation amount that would be payable if they were dismissed at that time. The number of employees that would remain with the Company until retirement age was not known. | ||||||
Defined Benefit Plan, Funded Percentage | 40.00% | ||||||
Dry bulk vessels [Member] | |||||||
Restricted Cash and Cash Equivalents, Current | $ 84,260,000 | $ 16,303,000 | 736,000 | ||||
Goodwill | 56,240,000 | 56,240,000 | 56,240,000 | ||||
Logistics Business [Member] | |||||||
Restricted Cash and Cash Equivalents, Current | 0 | 0 | 0 | ||||
Goodwill | $ 104,096,000 | 104,096,000 | $ 104,096,000 | ||||
Navios Holdings [Member] | Trade Names [Member] | |||||||
Finite lived intangible assets amortization method | straight-line | ||||||
Finite-Lived Intangible Asset, Useful Life | 32 years | ||||||
Navios Logistics [Member] | Trade Names [Member] | |||||||
Finite lived intangible assets amortization method | straight-line | ||||||
Finite-Lived Intangible Asset, Useful Life | 10 years | ||||||
Navios Logistics [Member] | Customer Relationships [Member] | |||||||
Finite lived intangible assets amortization method | straight-line | ||||||
Continuing Operations [Member] | |||||||
Amortization and write-off of deferred financing | $ 8,870,000 | 7,863,000 | $ 7,746,000 | ||||
Navios Holdings [Member] | |||||||
Annual growth factor management fees every second year | 3.00% | ||||||
Utilization rate of fleet | 99.30% | ||||||
Vessels [Member] | |||||||
Scrap rate | $ 340,000 | ||||||
Interest Costs Capitalized | $ 1,062,000 | 986,000 | 1,960,000 | ||||
Dry bulk vessels [Member] | |||||||
Property, Plant and Equipment, Useful Life | 25 years | ||||||
Two dry bulk vessels held and used [Member] | Navios Holdings [Member] | |||||||
Impairment loss | 52,820,000 | 84,584,000 | |||||
Two tanker vessels held and used [Member] | Navios Logistics [Member] | |||||||
Impairment loss | $ 21,966,000 | 0 | 0 | ||||
Chartered-in vessels [Member] | |||||||
Impairment loss | 0 | 1,361,000 | 38,636,000 | ||||
Retention Accounts [Member] | |||||||
Restricted Cash and Cash Equivalents, Current | 0 | 684,000 | |||||
Amounts Held As Security [Member] | |||||||
Restricted Cash and Cash Equivalents, Current | $ 10,000 | 10,000 | |||||
Navios Partners and its subsidiaries [Member] | |||||||
Economic rights | 10.30% | ||||||
Navios Acquisition and its subsidiaries [Member] | |||||||
Economic rights | 6.90% | ||||||
Navios Containers and its subsidiaries [Member] | |||||||
Economic rights | 3.90% | ||||||
Navios Europe I and its subsidiaries [Member] | |||||||
Economic rights | 47.50% | ||||||
Navios Europe II and its subsidiaries [Member] | |||||||
Economic rights | 47.50% | ||||||
Minimum [Member] | Ocean-going vessels [Member] | |||||||
Interval between vessel drydockings / special surveys | 30 months | ||||||
Minimum [Member] | Pushboats and barges [Member] | |||||||
Interval between vessel drydockings / special surveys | 72 months | ||||||
Minimum [Member] | Affiliate Companies [Member] | |||||||
Voting rights | 20.00% | ||||||
Maximum [Member] | Ocean-going vessels [Member] | |||||||
Interval between vessel drydockings / special surveys | 60 months | ||||||
Maximum [Member] | Pushboats and barges [Member] | |||||||
Interval between vessel drydockings / special surveys | 96 months | ||||||
Maximum [Member] | Affiliate Companies [Member] | |||||||
Voting rights | 50.00% | ||||||
Navios Logistics [Member] | |||||||
Ownership percentage of Navios Holdings | 63.80% | ||||||
Impairment Test [Member] | Logistics Business [Member] | |||||||
Goodwill | $ 104,096,000 | ||||||
U.S. Retirement Savings Plan [Member] | Foreign Plan [Member] | |||||||
Description of defined contribution pension and other postretirement plans | The Company sponsored a 401(k) retirement savings plan, which was categorized as a defined contribution plan. The plan was available to full time employees who met the plan’s eligibility requirements. The plan permitted employees to make contributions up to 15% of their annual salary with the Company matching up to the first 6%. The Company made monthly contributions (matching contributions) to the plan based on amounts contributed by employees. Subsequent to making the matching contributions, the Company had no further obligations. The Company might make an additional discretionary contribution annually if such a contribution was authorized by the Board of Directors. The plan was administered by an independent professional firm that specialized in providing such services. | ||||||
Five years after the issuance date [Member] | Convertible Preferred Stock [Member] | |||||||
Percentage of preferred stock converted | 30.00% | ||||||
Convertible Preferred Stock Share Price | $ / shares | $ 10 | ||||||
After the third anniversary of the issuance date [Member] | Convertible Preferred Stock [Member] | |||||||
Convertible Preferred Stock Share Price | $ / shares | $ 14 | ||||||
Number of consecutive business days | 10 | ||||||
After the third anniversary of the issuance date [Member] | Minimum [Member] | Convertible Preferred Stock [Member] | |||||||
Share Price | $ / shares | $ 20 | ||||||
At any time following the issuance date and prior to the final conversion date [Member] | Convertible Preferred Stock [Member] | |||||||
Convertible Preferred Stock Share Price | $ / shares | $ 14 | ||||||
2022 Notes [Member] | |||||||
Long-term Debt, Current Maturities | $ 164,891,000 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 7.375% | ||||||
Maturity date | January 2022 | ||||||
Debt Instrument, Repurchased Face Amount | $ 21,356,000 | 20,782,000 | $ 81,235,000 | ||||
Extinguishment of Debt, Amount | $ 21,356,000 | ||||||
Repayment date | January 2022 | ||||||
Repayments of Debt | $ 455,566,000 | ||||||
Senior Secured 2022 Notes [Member] | |||||||
Long-term Debt, Current Maturities | $ 105,000,000 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 11.25% | ||||||
Maturity date | August 2022 | ||||||
Debt Instrument, Repurchased Face Amount | $ 150,000,000 | ||||||
Number of notices of redemption | 4 | ||||||
Senior Notes | $ 155,000,000 | ||||||
Notes Payable | $ 130,000,000 | ||||||
Senior Secured 2022 Notes [Member] | First Notice [Member] | |||||||
Debt Instrument, Repurchased Face Amount | $ 100,000,000 | ||||||
Senior Secured 2022 Notes [Member] | Second Notice [Member] | |||||||
Debt Instrument, Repurchased Face Amount | $ 20,000,000 | ||||||
Senior Secured 2022 Notes [Member] | Third Notice [Member] | |||||||
Debt Instrument, Repurchased Face Amount | $ 20,000,000 | ||||||
Senior Secured 2022 Notes [Member] | Fourth Notice [Member] | |||||||
Debt Instrument, Repurchased Face Amount | $ 10,000,000 | ||||||
Senior Secured 2022 Notes [Member] | Fifth Notice [Member] | |||||||
Debt Instrument, Repurchased Face Amount | $ 25,000,000 | ||||||
Redemption date | March 30, 2022 | ||||||
NSM I and NSM II [Member] | |||||||
Proceeds from Lines of Credit | $ 150,000,000 | ||||||
Credit Agricole CIB and BNP Paribas [Member] | |||||||
Proceeds from Lines of Credit | 105,000,000 | ||||||
Hamburg Commercial Bank AG [Member] | |||||||
Proceeds from Lines of Credit | 101,750,000 | ||||||
Sale And Leaseback Agreements $68,000 [Member] | |||||||
Proceeds from Lines of Credit | 77,000,000 | ||||||
Navios Lumen, Navios Stellar and Navios Phoenix [Member] | |||||||
Restricted Cash and Cash Equivalents, Current | $ 84,250,000 | ||||||
Navios Northern Star and Navios Amitie [Member] | |||||||
Restricted Cash and Cash Equivalents, Current | $ 15,609,000 | ||||||
NSM [Member] | Management Agreement [Member] | |||||||
Termination date of agreement | August 29, 2024 | ||||||
NSM [Member] | Chartered-in vessels [Member] | Management Agreement [Member] | |||||||
Daily management fee | $ 30 | ||||||
NSM [Member] | Until August 2021 [Member] | Owned Vessels [Member] | Management Agreement [Member] | |||||||
Daily management fee | 3,700 | ||||||
NSM [Member] | Until August 2022 [Member] | Owned Vessels [Member] | Management Agreement [Member] | |||||||
Daily management fee | $ 3,800 | ||||||
NSM [Member] | After two years [Member] | Vessels Owned [Member] | Management Agreement [Member] | |||||||
Rate of annual increase in management fees | 3.00% |
Sale of Management & Consolid_3
Sale of Management & Consolidation/Deconsolidation of Navios Containers - Gain on Sale (Table) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Business Combinations [Abstract] | |||
Cash consideration | $ 3,000 | ||
Less: Transaction fees | (1,088) | ||
Proceeds received | 1,912 | ||
Net liabilities derecognized | 158,795 | ||
Loan payable to NSM assumed | $ 0 | $ 0 | (141,795) |
Book value of general partner interest in Navios Partners | (3,212) | ||
Book value of Other fixed assets | (6,213) | ||
Lease liability, net | 315 | ||
Increase in operating capital | 7,890 | ||
Gain on sale | $ 9,802 |
Sale of Management & Consolid_4
Sale of Management & Consolidation/Deconsolidation of Navios Containers - Discontinued Operations (Table) (Details) - USD ($) $ in Thousands | 8 Months Ended | 12 Months Ended | ||
Aug. 30, 2019 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Business Combinations [Abstract] | ||||
Revenue | $ 89,925 | |||
Time charter, voyage and port terminal expenses | (3,976) | |||
Direct vessel expenses | (44,088) | |||
General and administrative expenses | (6,706) | |||
Depreciation and amortization | (22,858) | |||
Interest expense and finance cost | (10,519) | |||
Other expense, net | (5,896) | |||
Net (loss)/income from discontinued operations | (4,118) | |||
Less: Net loss/(income) attributable to the noncontrolling interest | 3,968 | |||
Net (loss)/income attributable to Navios Holdings common stockholders | $ (150) | $ 0 | $ 0 | $ (4,118) |
Sale of Management & Consolid_5
Sale of Management & Consolidation/Deconsolidation of Navios Containers (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands | 8 Months Ended | 12 Months Ended | |||
Aug. 31, 2019 | Aug. 30, 2019 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Defined Benefit Plan Disclosure [Line Items] | |||||
Proceeds from Divestiture of Businesses | $ 0 | $ 0 | $ 3,000 | ||
Common stock shares oustanding | 25,198,620 | 15,881,147 | |||
Navios Containers [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Difference between carrying amount of investment and underlying equity in net assets of equity method investee | $ 57,999 | ||||
Fair value of investment | 2,527 | ||||
Gain/ (loss) on revaluation of retained investment | $ 3,742 | ||||
Common stock shares oustanding | 1,263,276 | ||||
Closing price of the common stock | $ 2 | ||||
NSM [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 141,795 | ||||
Gain on sale of vessels | $ 9,802 | ||||
The Transaction [Member] | NSM [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Proceeds from Divestiture of Businesses | $ 20,000 |
Cash and Cash Equivalents and_3
Cash and Cash Equivalents and Restricted Cash (Table) (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Cash and Cash Equivalents [Abstract] | ||||
Cash on hand and at banks | $ 53,547 | $ 94,787 | ||
Short-term deposits and highly liquid funds | 44 | 94 | ||
Restricted cash | 84,260 | 16,303 | ||
Cash and cash equivalents and restricted cash | $ 137,851 | $ 111,184 | $ 78,727 | $ 150,774 |
Accounts Receivable, Net (Tab_2
Accounts Receivable, Net (Table) (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Accounts Receivable Net | ||||
Accounts receivable | $ 79,935 | $ 69,694 | ||
Less: Allowance for credit losses | (17,096) | (15,366) | $ (16,377) | $ (16,086) |
Accounts receivable, net | $ 62,839 | $ 54,328 |
Accounts Receivable, Net - Prov
Accounts Receivable, Net - Provisions for Doubtful Accounts (Table) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Accounts Receivable Net | |||
Balance at Beginning of Period | $ (15,366) | $ (16,377) | $ (16,086) |
Charges to Costs and Expenses | (1,831) | (541) | (999) |
Amount Utilized | 101 | 1,552 | 708 |
Balance at End of Period | $ (17,096) | $ (15,366) | $ (16,377) |
Accounts Receivable, net (Detai
Accounts Receivable, net (Details Narrative) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Product Information [Line Items] | |||
Concentration Risk, Customer | Concentration of credit risk with respect to accounts receivable is limited due to the Company’s large number of customers, who are internationally dispersed and have a variety of end markets in which they sell. Due to these factors, management believes that no additional credit risk beyond amounts provided for collection losses is inherent in the Company’s trade receivables. | ||
Customer 1 [Member] | |||
Product Information [Line Items] | |||
Concentration risk, percentage | 10.70% | 16.40% | 17.10% |
Customer 2 [Member] | |||
Product Information [Line Items] | |||
Concentration risk, percentage | 10.70% | 11.20% | 14.40% |
Prepaid Expenses and Other Cu_3
Prepaid Expenses and Other Current Assets (Table) (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ||
Prepaid voyage and operating costs | $ 5,086 | $ 4,616 |
Claims receivable | 6,397 | 4,136 |
Prepaid other taxes | 1,084 | 2,604 |
Other | 4,527 | 3,625 |
Total prepaid expenses and other current assets | $ 17,094 | $ 14,981 |
Vessels, Port Terminals and O_3
Vessels, Port Terminals and Other Fixed Assets (Table) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Property, Plant and Equipment [Line Items] | |||
Balance | $ 1,139,539 | ||
Additions | (61,235) | $ (71,015) | $ (104,581) |
Balance | 950,002 | 1,139,539 | |
Cost [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Balance | 1,600,313 | 1,809,195 | 2,524,610 |
Additions | 9,299 | 4,565 | 11,628 |
Vessel acquisition | 16,049 | 96,678 | 67,832 |
Vessel impairment | (117,227) | (221,754) | (274,067) |
Vessel disposals | (172,782) | (87,823) | (48,830) |
Write offs | (548) | (16,270) | |
Navios Containers Deconsolidation | (455,708) | ||
Disposals | (130) | ||
Transfers from other long-term assets | 57,107 | ||
Balance | 1,392,629 | 1,600,313 | 1,809,195 |
Cost [Member] | Vessels [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Balance | 809,576 | 1,021,351 | 1,324,766 |
Additions | 4,949 | 1,277 | 4,747 |
Vessel acquisition | 16,049 | 96,678 | 14,735 |
Vessel impairment | (89,888) | (221,754) | (274,067) |
Vessel disposals | (172,782) | (87,823) | (48,830) |
Write offs | (153) | ||
Balance | 567,904 | 809,576 | 1,021,351 |
Cost [Member] | Port Terminals (Navios Logistics) [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Balance | 254,744 | 253,962 | 253,360 |
Additions | 1,520 | 869 | 602 |
Write offs | (87) | ||
Disposals | (130) | ||
Transfers from other long-term assets | 5,646 | ||
Balance | 261,780 | 254,744 | 253,962 |
Cost [Member] | Tanker vessels, barges and pushboats [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Balance | 527,674 | 526,051 | 525,712 |
Additions | 2,445 | 1,931 | 2,403 |
Vessel impairment | (27,339) | ||
Write offs | (308) | (2,064) | |
Transfers | 51,461 | ||
Balance | 554,241 | 527,674 | 526,051 |
Cost [Member] | Containerships (Navios Containers) [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Balance | 400,896 | ||
Additions | 1,715 | ||
Vessel acquisition | 53,097 | ||
Navios Containers Deconsolidation | (455,708) | ||
Balance | |||
Cost [Member] | Other Noncurrent Assets [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Balance | 8,319 | 7,831 | 19,876 |
Additions | 385 | 488 | 2,161 |
Write offs | (14,206) | ||
Balance | 8,704 | 8,319 | 7,831 |
Accumulated Depreciation [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Balance | (460,774) | (532,681) | (626,155) |
Additions | (55,653) | (62,604) | (83,589) |
Vessel acquisition | (2,820) | (693) | |
Vessel impairment | 73,631 | 137,255 | 159,834 |
Write offs | 76 | 8,859 | |
Navios Containers Deconsolidation | 9,063 | ||
Disposals | 169 | ||
Balance | (442,627) | (460,774) | (532,681) |
Accumulated Depreciation [Member] | Vessels [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Balance | (182,007) | (280,004) | (390,982) |
Additions | (26,770) | (36,438) | (48,812) |
Vessel acquisition | 0 | (2,820) | (44) |
Vessel impairment | 68,258 | 137,255 | 159,834 |
Balance | (140,519) | (182,007) | (280,004) |
Accumulated Depreciation [Member] | Port Terminals (Navios Logistics) [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Balance | (54,101) | (46,961) | (39,775) |
Additions | (7,629) | (7,216) | (7,186) |
Write offs | 76 | ||
Disposals | 169 | ||
Balance | (61,561) | (54,101) | (46,961) |
Accumulated Depreciation [Member] | Tanker vessels, barges and pushboats [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Balance | (219,034) | (200,756) | (182,584) |
Additions | (20,763) | (18,278) | (19,038) |
Vessel impairment | 5,373 | ||
Write offs | 866 | ||
Balance | (234,424) | (219,034) | (200,756) |
Accumulated Depreciation [Member] | Containerships (Navios Containers) [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Balance | 0 | (917) | |
Additions | (7,497) | ||
Vessel acquisition | (649) | ||
Navios Containers Deconsolidation | 9,063 | ||
Balance | 0 | ||
Accumulated Depreciation [Member] | Other Noncurrent Assets [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Balance | (5,632) | (4,960) | (11,897) |
Additions | (491) | (672) | (1,056) |
Write offs | 7,993 | ||
Balance | (6,123) | (5,632) | (4,960) |
Net Book Value [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Balance | 1,139,539 | 1,276,514 | 1,898,455 |
Additions | (46,354) | (58,039) | (71,961) |
Vessel acquisition | 16,049 | 93,858 | 67,139 |
Vessel impairment | (43,596) | (84,499) | (114,233) |
Vessel disposals | (172,782) | (87,823) | (48,830) |
Write offs | (472) | (7,411) | |
Navios Containers Deconsolidation | (446,645) | ||
Disposals | 39 | ||
Transfers from other long-term assets | 57,107 | ||
Balance | 950,002 | 1,139,539 | 1,276,514 |
Net Book Value [Member] | Vessels [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Balance | 627,569 | 741,347 | 933,784 |
Additions | (21,821) | (35,161) | (44,065) |
Vessel acquisition | 16,049 | 93,858 | 14,691 |
Vessel impairment | (21,630) | (84,499) | (114,233) |
Vessel disposals | (172,782) | (87,823) | (48,830) |
Write offs | (153) | ||
Balance | 427,385 | 627,569 | 741,347 |
Net Book Value [Member] | Port Terminals (Navios Logistics) [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Balance | 200,643 | 207,001 | 213,585 |
Additions | (6,109) | (6,347) | (6,584) |
Write offs | (11) | ||
Disposals | 39 | ||
Transfers from other long-term assets | 5,646 | ||
Balance | 200,219 | 200,643 | 207,001 |
Net Book Value [Member] | Tanker vessels, barges and pushboats [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Balance | 308,640 | 325,295 | 343,128 |
Additions | (18,318) | (16,347) | (16,635) |
Vessel impairment | (21,966) | ||
Write offs | (308) | (1,198) | |
Transfers from other long-term assets | 51,461 | ||
Balance | 319,817 | 308,640 | 325,295 |
Net Book Value [Member] | Containerships (Navios Containers) [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Balance | 0 | 399,979 | |
Additions | (5,782) | ||
Vessel acquisition | 52,448 | ||
Navios Containers Deconsolidation | (446,645) | ||
Balance | 0 | ||
Net Book Value [Member] | Other Noncurrent Assets [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Balance | 2,687 | 2,871 | 7,979 |
Additions | 1,105 | ||
Additions | (106) | (184) | |
Write offs | (6,213) | ||
Balance | $ 2,581 | $ 2,687 | $ 2,871 |
Vessels, Port Terminals and O_4
Vessels, Port Terminals and Other Fixed Assets, Net (Details Narrative) - USD ($) $ in Thousands | 1 Months Ended | 2 Months Ended | 3 Months Ended | 4 Months Ended | 5 Months Ended | 6 Months Ended | 7 Months Ended | 8 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||
Jan. 31, 2020 | Feb. 28, 2021 | Feb. 28, 2020 | Mar. 31, 2021 | Mar. 24, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | Apr. 23, 2019 | May 31, 2020 | May 31, 2019 | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2019 | Jul. 31, 2021 | Jul. 31, 2019 | Aug. 31, 2020 | Aug. 31, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Feb. 28, 2017 | |
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||
Vessels, port terminals and other fixed assets, net | $ 950,002 | $ 1,139,539 | ||||||||||||||||||||||
Loss due to sale of vessels | (47,827) | (88,367) | $ (156,106) | |||||||||||||||||||||
Proceeds from Sale of Property, Plant, and Equipment | 167,016 | 83,445 | 48,830 | |||||||||||||||||||||
Noncash or Part Noncash Divestiture, Amount of Consideration Received | 5,766 | 4,378 | 0 | |||||||||||||||||||||
Construction of six liquid barges [Member] | Navios Logistics [Member] | ||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||
Vessels, port terminals and other fixed assets, net | 19,501 | |||||||||||||||||||||||
Capitalized interest | 1,062 | 611 | ||||||||||||||||||||||
Payments for Construction in Process | 16,696 | |||||||||||||||||||||||
Construction Of Two New Tanks In Liquid Port Terminal [Member] | Navios Logistics [Member] | ||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||
Vessels, port terminals and other fixed assets, net | 1,843 | |||||||||||||||||||||||
Payments for Construction in Process | 1,285 | |||||||||||||||||||||||
Land Port Murtinho [Member] | Navios Logistics [Member] | ||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||
Capitalized interest | 713 | 631 | ||||||||||||||||||||||
Area of land | 2.3 additional hectares | 6.6 hectares | ||||||||||||||||||||||
Costs Incurred, Development Costs | 1,580 | |||||||||||||||||||||||
Seller's Credit Agreement for the Navios Logistics 2020 Fleet [Member] | Navios Logistics [Member] | ||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||
Vessels, port terminals and other fixed assets, net | $ 31,960 | |||||||||||||||||||||||
Description of scope | for the acquisition of three pushboats and 18 tank barges | |||||||||||||||||||||||
Purchase price | $ 30,000 | |||||||||||||||||||||||
Acquisition date | March 22, 2021 | |||||||||||||||||||||||
Construction of a crane in grain port terminal [Member] | Navios Logistics [Member] | ||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||
Vessels, port terminals and other fixed assets, net | $ 3,803 | |||||||||||||||||||||||
Payments for Construction in Process | 723 | |||||||||||||||||||||||
Navios Azimuth [Member] | ||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||
Year built | 2011 | |||||||||||||||||||||||
Vessel type | Capesize | |||||||||||||||||||||||
Vessel Capacity | 179,169 | |||||||||||||||||||||||
Vessel sale price | $ 30,000 | |||||||||||||||||||||||
Impairment loss | 9,104 | |||||||||||||||||||||||
Carrying balance of dry dock and special survey costs | $ 1,950 | |||||||||||||||||||||||
Navios Ray [Member] | ||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||
Year built | 2012 | |||||||||||||||||||||||
Vessel type | Capesize | |||||||||||||||||||||||
Vessel Capacity | 179,515 | |||||||||||||||||||||||
Navios Bonavis [Member] | ||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||
Year built | 2009 | |||||||||||||||||||||||
Vessel type | Capesize | |||||||||||||||||||||||
Vessel Capacity | 180,022 | |||||||||||||||||||||||
Navios Ray And Navios Bonavis [Member] | ||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||
Vessel sale price | $ 58,000 | |||||||||||||||||||||||
Carrying balance of dry dock and special survey costs | 1,775 | |||||||||||||||||||||||
Loss due to sale of vessels | $ 8,753 | |||||||||||||||||||||||
Navios Koyo [Member] | ||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||
Year built | 2011 | |||||||||||||||||||||||
Vessel type | Capesize | |||||||||||||||||||||||
Vessel sale price | $ 28,500 | |||||||||||||||||||||||
Proceeds from Sale of Property, Plant, and Equipment | 8,500 | |||||||||||||||||||||||
Gain due to sale of vessels | $ 12,451 | |||||||||||||||||||||||
Navios Serenity [Member] | ||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||
Year built | 2011 | |||||||||||||||||||||||
Vessel type | Handysize | |||||||||||||||||||||||
Vessel Capacity | 34,690 | |||||||||||||||||||||||
Vessel sale price | $ 10,388 | |||||||||||||||||||||||
Carrying balance of dry dock and special survey costs | 11 | |||||||||||||||||||||||
Loss due to sale of vessels | $ 6,957 | |||||||||||||||||||||||
Navios Centaurus [Member] | ||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||
Year built | 2012 | |||||||||||||||||||||||
Vessel type | Panamax | |||||||||||||||||||||||
Vessel Capacity | 81,472 | |||||||||||||||||||||||
Navios Avior [Member] | ||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||
Year built | 2012 | |||||||||||||||||||||||
Vessel type | Panamax | |||||||||||||||||||||||
Vessel Capacity | 81,355 | |||||||||||||||||||||||
Navios Centaurus and Navios Avior [Member] | ||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||
Vessel sale price | $ 39,250 | |||||||||||||||||||||||
Carrying balance of dry dock and special survey costs | 495 | |||||||||||||||||||||||
Loss due to sale of vessels | 13,498 | |||||||||||||||||||||||
Working capital adjustments | $ 5,766 | |||||||||||||||||||||||
Two tanker vessels [Member] | Navios Logistics [Member] | ||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||
Impairment loss | $ 21,966 | |||||||||||||||||||||||
Two dry bulk tankers [Member] | ||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||
Impairment loss | $ 52,820 | $ 84,584 | ||||||||||||||||||||||
Navios Astra [Member] | ||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||
Year built | 2006 | |||||||||||||||||||||||
Vessel type | Ultra Handymax | |||||||||||||||||||||||
Vessel Capacity | 53,468 | |||||||||||||||||||||||
Vessel sale price | $ 6,644 | |||||||||||||||||||||||
Carrying balance of dry dock and special survey costs | 98 | |||||||||||||||||||||||
Loss due to sale of vessels | $ 6,288 | |||||||||||||||||||||||
Navios Gem [Member] | ||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||
Year built | 2014 | |||||||||||||||||||||||
Vessel type | Capesize | |||||||||||||||||||||||
Vessel Capacity | 181,336 | |||||||||||||||||||||||
Navios Victory [Member] | ||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||
Year built | 2014 | |||||||||||||||||||||||
Vessel type | Panamax | |||||||||||||||||||||||
Vessel Capacity | 77,095 | |||||||||||||||||||||||
Navios Victory and Navios Gem [Member] | ||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||
Vessel sale price | $ 51,000 | |||||||||||||||||||||||
Carrying balance of dry dock and special survey costs | 1,747 | |||||||||||||||||||||||
Loss due to sale of vessels | 7,683 | |||||||||||||||||||||||
Noncash or Part Noncash Divestiture, Amount of Consideration Received | $ 4,378 | |||||||||||||||||||||||
Navios Amitie [Member] | ||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||
Year built | 2005 | |||||||||||||||||||||||
Vessel type | Panamax | |||||||||||||||||||||||
Vessel Capacity | 75,395 | |||||||||||||||||||||||
Vessel sale price | $ 6,885 | |||||||||||||||||||||||
Loss due to sale of vessels | $ 4,478 | |||||||||||||||||||||||
Navios Northern Star [Member] | ||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||
Year built | 2005 | |||||||||||||||||||||||
Vessel type | Panamax | |||||||||||||||||||||||
Vessel Capacity | 75,395 | |||||||||||||||||||||||
Vessel sale price | $ 6,860 | |||||||||||||||||||||||
Loss due to sale of vessels | $ 4,489 | |||||||||||||||||||||||
Navios Star [Member] | ||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||
Year built | 2002 | |||||||||||||||||||||||
Vessel type | Panamax | |||||||||||||||||||||||
Vessel Capacity | 76,662 | |||||||||||||||||||||||
Vessel sale price | $ 6,450 | |||||||||||||||||||||||
Carrying balance of dry dock and special survey costs | 258 | |||||||||||||||||||||||
Loss due to sale of vessels | $ 5,697 | |||||||||||||||||||||||
Navios Kypros [Member] | ||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||
Year built | 2003 | |||||||||||||||||||||||
Vessel type | Ultra Handymax | |||||||||||||||||||||||
Vessel Capacity | 55,222 | |||||||||||||||||||||||
Vessel sale price | $ 9,131 | |||||||||||||||||||||||
Carrying balance of dry dock and special survey costs | 404 | |||||||||||||||||||||||
Loss due to sale of vessels | $ 5,551 | |||||||||||||||||||||||
Navios Hios [Member] | ||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||
Year built | 2003 | |||||||||||||||||||||||
Vessel type | Ultra Handymax | |||||||||||||||||||||||
Vessel Capacity | 55,180 | |||||||||||||||||||||||
Vessel sale price | $ 7,497 | |||||||||||||||||||||||
Carrying balance of dry dock and special survey costs | 611 | |||||||||||||||||||||||
Loss due to sale of vessels | $ 7,429 | |||||||||||||||||||||||
Navios Primavera [Member] | ||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||
Year built | 2007 | |||||||||||||||||||||||
Vessel type | Ultra Handymax | |||||||||||||||||||||||
Vessel Capacity | 53,464 | |||||||||||||||||||||||
Vessel sale price | $ 9,891 | |||||||||||||||||||||||
Loss due to sale of vessels | $ 1,673 | |||||||||||||||||||||||
Navios Mercator [Member] | ||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||
Year built | 2002 | |||||||||||||||||||||||
Vessel type | Ultra Handymax | |||||||||||||||||||||||
Vessel Capacity | 53,553 | |||||||||||||||||||||||
Vessel sale price | $ 6,664 | |||||||||||||||||||||||
Carrying balance of dry dock and special survey costs | 490 | |||||||||||||||||||||||
Loss due to sale of vessels | $ 4,849 | |||||||||||||||||||||||
Navios Arc [Member] | ||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||
Year built | 2003 | |||||||||||||||||||||||
Vessel type | Ultra Handymax | |||||||||||||||||||||||
Vessel Capacity | 53,514 | |||||||||||||||||||||||
Vessel sale price | $ 7,105 | |||||||||||||||||||||||
Carrying balance of dry dock and special survey costs | 685 | |||||||||||||||||||||||
Loss due to sale of vessels | $ 5,149 | |||||||||||||||||||||||
Navios Vector [Member] | ||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||
Year built | 2002 | |||||||||||||||||||||||
Vessel type | Ultra Handymax | |||||||||||||||||||||||
Vessel Capacity | 50,296 | |||||||||||||||||||||||
Vessel sale price | $ 6,860 | |||||||||||||||||||||||
Carrying balance of dry dock and special survey costs | 673 | |||||||||||||||||||||||
Loss due to sale of vessels | $ 10,039 | |||||||||||||||||||||||
Navios Equator Prosper [Member] | ||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||
Year built | 2000 | |||||||||||||||||||||||
Vessel type | Capesize | |||||||||||||||||||||||
Vessel Capacity | 171,191 | |||||||||||||||||||||||
Vessel sale price | $ 11,520 | |||||||||||||||||||||||
Gain due to sale of vessels | $ 1,784 | |||||||||||||||||||||||
Navios Meridian [Member] | ||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||
Year built | 2002 | |||||||||||||||||||||||
Vessel type | Ultra Handymax | |||||||||||||||||||||||
Vessel Capacity | 50,316 | |||||||||||||||||||||||
Vessel sale price | $ 6,790 | |||||||||||||||||||||||
Carrying balance of dry dock and special survey costs | 778 | |||||||||||||||||||||||
Loss due to sale of vessels | $ 5,531 | |||||||||||||||||||||||
Rainbow N [Member] | ||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||
Year built | 2011 | |||||||||||||||||||||||
Vessel type | Panamax | |||||||||||||||||||||||
Vessel Capacity | 79,642 | |||||||||||||||||||||||
Jupiter N [Member] | ||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||
Vessel Capacity | 93,062 | |||||||||||||||||||||||
Jupiter N and Rainbow N [Member] | ||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||
Vessel acquisition | $ 24,883 | |||||||||||||||||||||||
Navios Corali [Member] | ||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||
Year built | 2015 | |||||||||||||||||||||||
Vessel type | Capesize | |||||||||||||||||||||||
Vessel Capacity | 181,249 | |||||||||||||||||||||||
Vessel acquisition | $ 36,684 | |||||||||||||||||||||||
Navios Canary [Member] | ||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||
Year built | 2015 | |||||||||||||||||||||||
Vessel type | Capesize | |||||||||||||||||||||||
Vessel Capacity | 180,528 | |||||||||||||||||||||||
Vessel acquisition | $ 35,111 | |||||||||||||||||||||||
Navios Victory I [Member] | ||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||
Year built | 2014 | |||||||||||||||||||||||
Vessel type | Panamax | |||||||||||||||||||||||
Vessel Capacity | 77,095 | |||||||||||||||||||||||
Vessel acquisition | $ 14,735 | |||||||||||||||||||||||
Formosa And San Lorenzo [Member] | Navios Logistics [Member] | ||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||
Vessel sale price | $ 1,109 | |||||||||||||||||||||||
Navios Constellation [Member] | Navios Containers [Member] | ||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||
Year built | 2011 | |||||||||||||||||||||||
Vessel type | containership | |||||||||||||||||||||||
Vessel acquisition | $ 53,097 | |||||||||||||||||||||||
Vessel's capacity in TEU | 10,000 |
Intangible Assets other than _3
Intangible Assets other than Goodwill (Table) (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Trade Names [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Acquisition Cost | $ 90,000 | $ 90,000 |
Accumulated Amortization | (45,985) | (43,175) |
Net Book Value | 44,015 | 46,825 |
Port operating terminal rights [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Acquisition Cost | 53,152 | 53,152 |
Accumulated Amortization | (14,833) | (13,835) |
Net Book Value | 38,319 | 39,317 |
Customer Relationships [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Acquisition Cost | 35,490 | 35,490 |
Accumulated Amortization | (24,843) | (23,069) |
Net Book Value | 10,647 | 12,421 |
Total Intangible Assets [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Acquisition Cost | 178,642 | 178,642 |
Accumulated Amortization | (85,661) | (80,079) |
Net Book Value | $ 92,981 | $ 98,563 |
Intangible Assets other than _4
Intangible Assets other than Goodwill - Amortization Expense and Write Offs (Table) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Trade Names [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Amortization Expense and Write Offs | $ 2,810 | $ 2,818 | $ 2,811 |
Port operating terminal rights [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Amortization Expense and Write Offs | 998 | 998 | 999 |
Customer Relationships [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Amortization Expense and Write Offs | 1,774 | 1,775 | 1,774 |
Total [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Amortization Expense and Write Offs | $ 5,582 | $ 5,591 | $ 5,584 |
Intangible Assets other than _5
Intangible Assets other than Goodwill - Amortization Schedule (Table) (Details) $ in Thousands | Dec. 31, 2021USD ($) |
Finite-Lived Intangible Assets [Line Items] | |
Within one year | $ 5,581 |
Year Two | 5,581 |
Year Three | 5,581 |
Year Four | 5,588 |
Year Five | 5,581 |
Thereafter | 65,069 |
Total | 92,981 |
Trade Names [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Within one year | 2,811 |
Year Two | 2,811 |
Year Three | 2,811 |
Year Four | 2,818 |
Year Five | 2,811 |
Thereafter | 29,953 |
Total | 44,015 |
Port operating terminal rights [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Within one year | 995 |
Year Two | 995 |
Year Three | 995 |
Year Four | 995 |
Year Five | 995 |
Thereafter | 33,344 |
Total | 38,319 |
Customer Relationships [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Within one year | 1,775 |
Year Two | 1,775 |
Year Three | 1,775 |
Year Four | 1,775 |
Year Five | 1,775 |
Thereafter | 1,772 |
Total | $ 10,647 |
Investments in Affiliate Comp_3
Investments in Affiliate Companies and Investments in Available-for-Sale Securities - Financial Information of the Affiliate Companies - Balance Sheet (Table) (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Schedule of Equity Method Investments [Line Items] | ||||
Cash and cash equivalents, including restricted cash | $ 137,851 | $ 111,184 | $ 78,727 | $ 150,774 |
Current assets | 229,447 | 194,857 | ||
Non-current assets | 1,579,331 | 1,776,468 | ||
Current liabilities | 497,448 | 592,782 | ||
Non-current liabilities | 1,244,686 | 1,412,826 | ||
Navios Partners [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Cash and cash equivalents, including restricted cash | 169,446 | 30,728 | ||
Current assets | 226,340 | 60,780 | ||
Non-current assets | 3,396,959 | 1,146,489 | ||
Current liabilities | 395,505 | 253,252 | ||
Long- term debt including current portion, net | 1,361,709 | 486,857 | ||
Non-current liabilities | 1,458,069 | 299,187 | ||
Navios Acquisition [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Cash and cash equivalents, including restricted cash | 0 | 41,357 | ||
Current assets | 0 | 140,605 | ||
Non-current assets | 0 | 1,428,392 | ||
Current liabilities | 0 | 805,860 | ||
Long- term debt including current portion, net | 0 | 1,076,587 | ||
Non-current liabilities | 0 | 433,280 | ||
Navios Containers [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Cash and cash equivalents, including restricted cash | 0 | 7,573 | ||
Current assets | 0 | 16,684 | ||
Non-current assets | 0 | 414,106 | ||
Current liabilities | 0 | 39,862 | ||
Long- term debt including current portion, net | 0 | 232,159 | ||
Non-current liabilities | $ 0 | $ 199,383 |
Investments in Affiliate Comp_4
Investments in Affiliate Companies and Investments in Available-for-Sale Securities - Financial Information of Affiliate Companies - Income Statement (Table) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Mar. 31, 2021 | Oct. 15, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Schedule of Equity Method Investments [Line Items] | |||||
Revenue | $ 585,818 | $ 416,718 | $ 482,449 | ||
Net (loss)/income | (91,901) | 188,605 | 184,452 | ||
Navios Partners [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Revenue | 713,175 | 226,771 | 219,379 | ||
Net (loss)/income | $ 516,186 | (68,541) | (62,134) | ||
Navios Acquisition [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Revenue | $ 188,304 | 361,438 | 280,117 | ||
Net (loss)/income | $ (6,307) | 27,465 | (65,707) | ||
Navios Containers [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Revenue | $ 43,763 | 127,188 | 141,532 | ||
Net (loss)/income | $ 15,270 | 3,348 | 7,507 | ||
Navios Europe II [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Revenue | 17,059 | 46,718 | |||
Net (loss)/income | $ (26,661) | (30,203) | |||
Navios Europe I [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Revenue | 36,822 | ||||
Net (loss)/income | $ (18,575) |
Investments in Affiliate Comp_5
Investments in Affiliate Companies and Investments in Available-for-Sale Securities (Details Narrative) $ in Thousands | Jan. 04, 2021shares | Jan. 31, 2019USD ($) | Feb. 28, 2019USD ($)shares | Feb. 18, 2015USD ($) | Mar. 31, 2020USD ($) | Mar. 31, 2017USD ($) | Apr. 30, 2020USD ($) | Apr. 21, 2020USD ($) | May 21, 2019 | Aug. 25, 2021shares | Oct. 15, 2021shares | Dec. 31, 2021USD ($)shares | Dec. 31, 2020USD ($)shares | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 18, 2013USD ($) | Mar. 31, 2021 | Jun. 30, 2020USD ($) |
Investments in affiliate companies | $ 125,744 | $ 56,988 | ||||||||||||||||
Equity in net earnings of affiliated companies | 69,275 | (1,293) | $ (9,185) | |||||||||||||||
Other than temporary impairment loss on investments | 0 | 6,050 | 0 | |||||||||||||||
Investment in available-for-sale-securities | 219 | 222 | ||||||||||||||||
Junior Loan II [Member] | ||||||||||||||||||
Repayments of Debt | $ 5,000 | |||||||||||||||||
Navios Acquisition [Member] | Navios Acquisition's Ship Mortgage Notes [Member] | ||||||||||||||||||
Sale of Stock, Number of Shares Issued in Transaction | shares | 44,117,647 | |||||||||||||||||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 8.125% | |||||||||||||||||
Debt Instrument, Maturity Date | Sep. 25, 2021 | |||||||||||||||||
AFS Securities [Member] | ||||||||||||||||||
Investment in available-for-sale-securities | 219 | 222 | ||||||||||||||||
Unrealized loss | $ 3 | 3 | ||||||||||||||||
Unrealized gain | $ 33 | |||||||||||||||||
Reverse Stock Split [Member] | ||||||||||||||||||
Stockholders' equity, Reverse stock split | one-for-ten reverse stock split | |||||||||||||||||
Navios Partners [Member] | ||||||||||||||||||
Common units held by Navios Holdings | shares | 3,183,199 | 2,070,216 | ||||||||||||||||
Ownership percentage of Navios Holdings | 10.30% | 17.90% | 12.60% | |||||||||||||||
Difference between carrying amount of investment and underlying equity in net assets of equity method investee | $ 56,351 | $ 77,904 | ||||||||||||||||
Investments in affiliate companies | 125,744 | 39,133 | ||||||||||||||||
Equity in net earnings of affiliated companies | 66,745 | 5,466 | 13,526 | |||||||||||||||
Dividends received | 519 | 1,449 | 2,692 | |||||||||||||||
Market value of the investment | 79,866 | |||||||||||||||||
Navios Acquisition [Member] | ||||||||||||||||||
Partners capital account units acquisitions | shares | 3,388,226 | |||||||||||||||||
Difference between carrying amount of investment and underlying equity in net assets of equity method investee | 68,793 | |||||||||||||||||
Investments in affiliate companies | 15,033 | |||||||||||||||||
Equity in net earnings of affiliated companies | 1,944 | 13,129 | (11,098) | |||||||||||||||
Dividends received | $ 243 | $ 5,838 | 4,379 | |||||||||||||||
Shares conversion rate | 0.1275 | |||||||||||||||||
Percentage of ownership | 0.00% | 29.50% | ||||||||||||||||
Other than temporary impairment loss on investments | $ 0 | $ 13,368 | 13,543 | |||||||||||||||
Navios Containers [Member] | ||||||||||||||||||
Investments in affiliate companies | 2,812 | |||||||||||||||||
Equity in net earnings of affiliated companies | $ 595 | $ 130 | 155 | |||||||||||||||
Percentage of ownership | 0.00% | 3.90% | ||||||||||||||||
Navios Europe I[Member] | Navios Revolving Loans I [Member] | ||||||||||||||||||
Loans and Leases Receivable, Related Parties | $ 10,000 | |||||||||||||||||
Revolving Credit Facility Maximum Borrowing Capacity | $ 24,100 | |||||||||||||||||
Line of Credit Facility, Increase (Decrease), Net | $ 30,000 | |||||||||||||||||
Navios Europe II [Member] | Navios Revolving Loans II [Member] | ||||||||||||||||||
Loans and Leases Receivable, Related Parties | 14,000 | 16,938 | ||||||||||||||||
Revolving Credit Facility Maximum Borrowing Capacity | 43,500 | |||||||||||||||||
Line of Credit Facility, Increase (Decrease), Net | $ 14,000 | |||||||||||||||||
Navios Europe II [Member] | Junior Loan II [Member] | ||||||||||||||||||
Repayments of Debt | $ 5,000 | $ 5,000 | ||||||||||||||||
Common unit repurchase program [Member] | Navios Partners [Member] | ||||||||||||||||||
Share repurchase program, Authorized amount | $ 50,000 | |||||||||||||||||
Number of shares repurchased | shares | 4,694,279 | |||||||||||||||||
Share repurchase program, Period in force | 2 years | |||||||||||||||||
Navios Partners [Member] | Directors and officers [Member] | ||||||||||||||||||
Private placement of units to directors and/or officers | shares | 380,952 | |||||||||||||||||
Partners capital account units acquisitions | shares | 7,775 | |||||||||||||||||
Payments to acquire investment | $ 8 | |||||||||||||||||
Navios Partners [Member] | Reverse Stock Split [Member] | ||||||||||||||||||
Stockholders' equity, Reverse stock split | 1-for-15 reverse stock split | |||||||||||||||||
Navios Containers [Member] | NMCI Merger [Member] | Navios Partners [Member] | ||||||||||||||||||
Shares conversion rate | 0.39 | |||||||||||||||||
Common units issued | shares | 8,133,452 | |||||||||||||||||
Navios Europe I[Member] | ||||||||||||||||||
Difference between carrying amount of investment and underlying equity in net assets of equity method investee | 6,763 | |||||||||||||||||
Investments in affiliate companies | $ 4,750 | |||||||||||||||||
Number of vessels acquired | 10 | |||||||||||||||||
Repayment of loan payable to affiliate companies | 13,420 | |||||||||||||||||
Navios Europe II [Member] | ||||||||||||||||||
Difference between carrying amount of investment and underlying equity in net assets of equity method investee | 9,419 | |||||||||||||||||
Investments in affiliate companies | $ 6,650 | $ 0 | $ 0 | |||||||||||||||
Equity in net earnings of affiliated companies | $ 1,775 | |||||||||||||||||
Other than temporary impairment loss on investments | $ 6,050 | |||||||||||||||||
Number of vessels acquired | 14 | |||||||||||||||||
Due to Related Parties, Current | $ 44,300 | |||||||||||||||||
Loss on investments | $ 6,650 | |||||||||||||||||
Navios Holdings [Member] | Navios Partners [Member] | ||||||||||||||||||
General partner interest of Navios Holdings | 2.00% | 2.00% | ||||||||||||||||
Navios Partners [Member] | Continuous Offering Program Sales Agreement [Member] | General Partner [Member] | ||||||||||||||||||
Partners' Capital Account, Units, Sale of Units | shares | 156,895 | 7,298 | ||||||||||||||||
Navios Partners [Member] | Common Stock [Member] | Continuous Offering Program Sales Agreement [Member] | ||||||||||||||||||
Partners' Capital Account, Units, Sale of Units | shares | 7,687,730 | 357,508 | ||||||||||||||||
Navios Partners [Member] | NMCI Merger [Member] | ||||||||||||||||||
Partners' Capital Account, Units, Converted | shares | 1,263,276 | |||||||||||||||||
Partners' Capital Account, Units | shares | 492,678 | |||||||||||||||||
Navios Partners [Member] | NNA Merger [Member] | ||||||||||||||||||
Partners' Capital Account, Units, Converted | shares | 4,865,147 | |||||||||||||||||
Partners' Capital Account, Units | shares | 620,306 |
Accrued Expenses and Other Li_3
Accrued Expenses and Other Liabilities (Table) (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Payables and Accruals [Abstract] | ||
Payroll | $ 7,913 | $ 6,671 |
Accrued interest | 45,445 | 55,650 |
Accrued voyage expenses | 1,014 | 1,344 |
Audit fees and related services | 375 | 225 |
Accrued taxes | 9,006 | 7,911 |
Professional fees | 417 | 470 |
Other accrued expenses | 289 | 264 |
Total accrued expenses | $ 64,459 | $ 72,535 |
Borrowings (Table) (Details)
Borrowings (Table) (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Debt Instrument [Line Items] | ||
Total Borrowings | $ 1,405,814 | $ 1,612,718 |
Line of Credit | 1,101,931 | 1,263,566 |
Less: current portion, net | (307,451) | (374,191) |
Less: deferred finance costs and discount, net | (19,330) | (28,289) |
Total long-term borrowings | 1,079,033 | 1,210,238 |
Total Navios Holdings [Member] | ||
Debt Instrument [Line Items] | ||
Total Borrowings | 847,438 | 1,052,683 |
Total Navios Logistics [Member] | ||
Debt Instrument [Line Items] | ||
Total Borrowings | 558,376 | 560,035 |
Loan Facility HCOB ($15,300) [Member] | ||
Debt Instrument [Line Items] | ||
Line of Credit | 0 | 9,945 |
Loan Facility Credit Agricole ($23,000) [Member] | ||
Debt Instrument [Line Items] | ||
Line of Credit | 0 | 11,100 |
Loan Facility Credit Agricole ($23,000) [Member] | ||
Debt Instrument [Line Items] | ||
Line of Credit | 0 | 11,400 |
Loan Facility DVB Bank SE ($72,000) [Member] | ||
Debt Instrument [Line Items] | ||
Line of Credit | 0 | 4,504 |
Loan Facility Alpha Bank ($31,000) [Member] | ||
Debt Instrument [Line Items] | ||
Line of Credit | 0 | 20,200 |
Loan Facility Alpha Bank ($16,125) [Member] | ||
Debt Instrument [Line Items] | ||
Line of Credit | 0 | 12,925 |
Sale and Leaseback Agreements [Member] | ||
Debt Instrument [Line Items] | ||
Total Borrowings | 114,837 | 62,934 |
2022 Senior Secured Notes [Member] | ||
Debt Instrument [Line Items] | ||
Line of Credit | 155,000 | 305,000 |
2022 Notes [Member] | ||
Debt Instrument [Line Items] | ||
Line of Credit | 455,466 | 476,822 |
2024 Notes [Member] | ||
Debt Instrument [Line Items] | ||
Line of Credit | 8,626 | 8,626 |
NSM Loan [Member] | ||
Debt Instrument [Line Items] | ||
Total Borrowings | 48,879 | 78,901 |
$50.0 million NSM Loan (including accrued interest of $326) [Member] | ||
Debt Instrument [Line Items] | ||
Line of Credit | 0 | 50,326 |
$115.0 million NSM Loan (incl. accrued interest $571) | ||
Debt Instrument [Line Items] | ||
Line of Credit | 64,630 | 0 |
2025 Logistics Senior Notes [Member] | Navios Logistics [Member] | ||
Debt Instrument [Line Items] | ||
Line of Credit | 500,000 | 500,000 |
Navios Logistics Notes Payable [Member] | Navios Logistics [Member] | ||
Debt Instrument [Line Items] | ||
Notes Payable | 12,463 | 17,842 |
Navios Logistics New BBVA Loan Facility [Member] | Navios Logistics [Member] | ||
Debt Instrument [Line Items] | ||
Total Borrowings | 12,000 | 22,000 |
Navios Logistics Alpha Bank Loan [Member] | Navios Logistics [Member] | ||
Debt Instrument [Line Items] | ||
Total Borrowings | 7,700 | 9,100 |
Seller's Credit Agreement for the construction of six liquid barges [Member] | Navios Logistics [Member] | ||
Debt Instrument [Line Items] | ||
Total Borrowings | 11,213 | 11,047 |
Seller's Credit Agreement for the Navios Logistics' 2020 Fleet [Member] | Navios Logistics [Member] | ||
Debt Instrument [Line Items] | ||
Total Borrowings | 15,000 | 0 |
Other long-term loans [Member] | Navios Logistics [Member] | ||
Debt Instrument [Line Items] | ||
Line of Credit | $ 0 | $ 46 |
Borrowings - Principal payments
Borrowings - Principal payments (Table) (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Debt Disclosure [Abstract] | ||
2022 (including total accrued interest of $877 of NSM Loan & $50.0 million NSM Loan) | $ 308,912 | |
2023 | 87,007 | |
2024 | 211,161 | |
2025 | 561,120 | |
2026 | 177,343 | |
2027 and thereafter | 60,271 | |
Total | $ 1,405,814 | $ 1,612,718 |
Borrowings (Details Narrative)
Borrowings (Details Narrative) | Jan. 05, 2022USD ($) | May 01, 2022USD ($) | Dec. 31, 2021USD ($)shares | Dec. 31, 2020USD ($)shares | Dec. 31, 2019USD ($) | Apr. 04, 2022shares | Mar. 31, 2022USD ($) | Jan. 03, 2022shares |
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Covenant Description | The Company’s secured credit facilities, which were drawn in January 2022, require compliance with maintenance covenants. Depending on the facility, these covenants include: (i) value-to-loan ratio covenants, based on charter-free valuations, ranging from over 125% to 133%, (ii) minimum liquidity up to a maximum of $10,000, (iii) total debt divided by total assets, as defined in each credit facility, of 75%; and (iv) net worth, as defined in the credit facility, of $125,000. | |||||||
Write off of Deferred Debt Issuance Cost | $ 1,777,000 | |||||||
Gain/ (Loss) on bond and debt extinguishment | 951,000 | $ 7,047,000 | $ 47,430,000 | |||||
Amount outstanding | 1,405,814,000 | 1,612,718,000 | ||||||
Accrued interest | $ 45,445,000 | $ 55,650,000 | ||||||
Common Stock, Shares, Outstanding | shares | 25,198,620 | 15,881,147 | ||||||
Proceeds from Issuance of Senior Long-term Debt | $ 0 | $ 487,504,000 | $ 0 | |||||
Debt, Weighted Average Interest Rate | 8.78% | 7.89% | 7.70% | |||||
Sale And Leaseback Agreements $68,000 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Repayment frequency | monthly | |||||||
Sale Leaseback Transaction, Date | first quarter of 2020 | |||||||
Finance lease, liability | $ 68,000,000 | |||||||
Number of repayment installments | 144 | |||||||
Sale And Leaseback Agreements $68,000 [Member] | Capesize Vessel A [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Periodic Payment | $ 224,000 | |||||||
Debt Instrument, Maturity Date, Description | fourth quarter of 2031 | |||||||
Balloon payment | $ 750,000 | |||||||
Sale And Leaseback Agreements $68,000 [Member] | Capesize Vessel B [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Periodic Payment | $ 238,000 | |||||||
Debt Instrument, Maturity Date, Description | first quarter of 2032 | |||||||
Balloon payment | $ 750,000 | |||||||
Sale And Leaseback Agreements $68,000 [Member] | Two dry bulk tankers [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Amount outstanding | $ 57,392,000 | |||||||
Sale and Leaseback Agreements $77,000 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Sale Leaseback Transaction, Date | December 2021 | |||||||
Finance lease, liability | $ 77,000,000 | |||||||
Sale and Leaseback Transaction Description | in order to finance four dry bulk vessels | |||||||
Sale and Leaseback Agreements $77,000 [Member] | Two dry bulk tankers [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Number of repayment installments | 96 | |||||||
Debt Instrument, Periodic Payment | $ 481,000 | |||||||
Debt Instrument, Maturity Date, Description | fourth quarter of 2029 | |||||||
Balloon payment | $ 3,600,000 | |||||||
Sale and Leaseback Agreements $77,000 [Member] | One Dry Bulk Vessels [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Number of repayment installments | 72 | |||||||
Debt Instrument, Periodic Payment | $ 688,000 | |||||||
Debt Instrument, Maturity Date, Description | fourth quarter of 2027 | |||||||
Balloon payment | $ 3,500,000 | |||||||
Sale and Leaseback Agreements $12,000 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Number of repayment installments | 60 | |||||||
Repayment frequency | monthly | |||||||
Sale Leaseback Transaction, Date | March 2022 | |||||||
Finance lease, liability | $ 12,000,000 | |||||||
Debt Instrument, Periodic Payment | $ 521,000 | |||||||
Debt Instrument, Maturity Date, Description | first quarter of 2027 | |||||||
Balloon payment | $ 1,600,000 | |||||||
Sale and Leaseback Transaction Description | to finance one dry bulk vessel. | |||||||
Navios Logistics [Member] | Six Liquid Barges [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Fixed interest rate | 8.50% | |||||||
Amount outstanding | $ 11,213,000 | |||||||
Line of credit facility initiation date | December 2020 | |||||||
Number of repayment installments | 20 | |||||||
Repayment frequency | quarterly | |||||||
Number of loan tranches | 6 | |||||||
Sale and Leaseback Transaction Description | for the construction of six liquid barges | |||||||
Seller's credit agreement | $ 13,475,000 | |||||||
Navios Logistics [Member] | Seller's Credit Agreement for the Navios Logistics 2020 Fleet [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Fixed interest rate | 5.00% | |||||||
Amount outstanding | $ 15,000,000 | |||||||
Line of credit facility initiation date | fourth quarter of 2020 | |||||||
Number of repayment installments | 3 | |||||||
Repayment frequency | annual | |||||||
Repayment installment | $ 5,000,000 | |||||||
Sale and Leaseback Transaction Description | for the acquisition of three pushboats and 18 tank barges | |||||||
Seller's credit agreement | $ 15,000,000 | |||||||
Convertible Debenture [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Number of trading months | 36 | |||||||
Convertible Debt | $ 24,000,000 | |||||||
Debt Instrument, Convertible, Terms of Conversion Feature | five years | |||||||
Convertible conversion ratio | 4.00% | |||||||
Common Stock, Shares, Outstanding | shares | 9,133,147 | |||||||
Minimum [Member] | Convertible Debenture [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Convertible, Conversion Ratio | 5 | |||||||
Maximum [Member] | Convertible Debenture [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Convertible, Conversion Ratio | 10 | |||||||
Credit Agricole Corporate and Investment Bank $11.1m [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Repayments of Debt | $ 11,100,000 | |||||||
Credit Agricole Corporate and Investment Bank $11.4m [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Repayments of Debt | 11,400,000 | |||||||
Hamburg Commercial Bank AG [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Repayments of Debt | 9,945,000 | |||||||
DVB Bank S.E. [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Repayments of Debt | 4,504,000 | |||||||
Alpha Bank A.E. [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Repayments of Debt | 20,200,000 | |||||||
Alpha Bank A.E. $12.95m [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Repayments of Debt | $ 12,925,000 | |||||||
Credit Agricole Corporate And Investment Bank [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Long-term Debt, Description | in order to: a) repay all amounts outstanding under the facility agreement dated September 2010 and b) repay all amounts outstanding under the facility agreement dated December 20, 2013. | |||||||
Maximum borrowing capacity | $ 28,745,000 | |||||||
Line of Credit Facility, Interest Rate Description | LIBOR | |||||||
Loan margin percentage | 2.80% | |||||||
Line of credit facility issuance date | Feb. 14, 2018 | |||||||
Hamburg Commercial Bank [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Long-term Debt, Description | in order to partially refinance the fourth tranche of the Commerzbank facility. | |||||||
Amount outstanding | $ 0 | |||||||
Maximum borrowing capacity | $ 15,300,000 | |||||||
Number of repayment installments | 3 | |||||||
Repayment frequency | quarterly | |||||||
Repayment installment | $ 383,000 | |||||||
Balloon payment on the last repayment date | $ 8,798,000 | |||||||
Line of Credit Facility, Interest Rate Description | LIBOR | |||||||
Loan margin percentage | 3.00% | |||||||
Line of credit facility issuance date | May 23, 2017 | |||||||
DVB Bank SE $42.0m [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Amount outstanding | $ 0 | |||||||
Maximum borrowing capacity | $ 42,000,000 | |||||||
Line of credit facility issuance date | Mar. 23, 2012 | |||||||
Number of loan tranches | 2 | |||||||
Amended DVB Bank SE $42.0m [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Long-term Debt, Description | in order to extend the maturity of the outstanding balance originally due in the first and second quarter of 2020 for one year, to June 2021 | |||||||
Line of Credit Facility, Interest Rate Description | LIBOR | |||||||
Loan margin percentage | 2.93% | |||||||
Line of credit facility issuance date | Nov. 12, 2019 | |||||||
DVB Bank SE $40.0m ( [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Long-term Debt, Description | in order to finance the acquisition of four Panamax vessels, delivered in August and September 2013. | |||||||
Amount outstanding | $ 0 | |||||||
Line of credit facility initiation date | September 2013 | |||||||
Maximum borrowing capacity | $ 40,000,000 | |||||||
Line of Credit Facility, Interest Rate Description | LIBOR | |||||||
Loan margin percentage | 3.25% | |||||||
Extended DVB Bank SE $40.0m [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Long-term Debt, Description | in order to extend the maturity of the outstanding balance originally due by September 2018 for three years, to September 2021. | |||||||
Line of credit facility initiation date | December 2017 | |||||||
Number of vessels released as collateral | two | |||||||
Loan Facility Alpha Bank ($31,000) [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Long-term Debt, Description | in order to finance part of the acquisition of a Capesize vessel | |||||||
Maximum borrowing capacity | $ 31,000,000 | |||||||
Number of repayment installments | 8 | |||||||
Repayment frequency | quarterly | |||||||
Repayment installment | $ 450,000 | |||||||
Balloon payment on the last repayment date | $ 16,600,000 | |||||||
Line of Credit Facility, Interest Rate Description | LIBOR | |||||||
Loan margin percentage | 3.00% | |||||||
Line of credit facility issuance date | Nov. 6, 2014 | |||||||
Amount outstanding | $ 0 | |||||||
Loan Facility Alpha Bank ($16,125) [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Long-term Debt, Description | in order to refinance one Capesize vessel | |||||||
Maximum borrowing capacity | $ 16,125,000 | |||||||
Number of repayment installments | 8 | |||||||
Repayment frequency | quarterly | |||||||
Repayment installment | $ 275,000 | |||||||
Balloon payment on the last repayment date | $ 10,725,000 | |||||||
Line of Credit Facility, Interest Rate Description | LIBOR | |||||||
Loan margin percentage | 3.00% | |||||||
Line of credit facility issuance date | Nov. 3, 2016 | |||||||
Amount outstanding | $ 0 | |||||||
Hamburg Commercial Bank AG ($101,750) [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Long-term Debt, Description | for the refinancing of seven drybulk vessels. | |||||||
Repayments of Debt | $ 10,380,000 | |||||||
Line of credit facility initiation date | December 2021 | |||||||
Maximum borrowing capacity | $ 101,750,000 | |||||||
Number of repayment installments | 8 | |||||||
Repayment frequency | quarterly | |||||||
Repayment installment | $ 3,915,000 | |||||||
Balloon payment on the last repayment date | $ 60,027,000 | |||||||
Line of Credit Facility, Interest Rate Description | LIBOR | |||||||
Repayment date | March 2022 | |||||||
Number of vessels released as collateral | one | |||||||
Amount drawn down | $ 101,750,000 | |||||||
Hamburg Commercial Bank AG ($101,750) [Member] | Minimum [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Loan margin percentage | 3.25% | |||||||
Hamburg Commercial Bank AG ($101,750) [Member] | Maximum [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Loan margin percentage | 4.50% | |||||||
Loan Facility Credit Agricole ($105,000) [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Long-term Debt, Description | for the refinancing of seven drybulk vessels. | |||||||
Line of credit facility initiation date | December 2021 | |||||||
Maximum borrowing capacity | $ 105,000,000 | |||||||
Balloon payment on the last repayment date | $ 41,000,000 | |||||||
Line of Credit Facility, Interest Rate Description | LIBOR | |||||||
Amount drawn down | 105,000,000 | |||||||
Loan Facility Credit Agricole ($105,000) [Member] | Minimum [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Loan margin percentage | 2.85% | |||||||
Loan Facility Credit Agricole ($105,000) [Member] | Maximum [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Loan margin percentage | 3.75% | |||||||
Four Navios Holdings Credit Facilities [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Repayments of Debt | $ 36,199,000 | |||||||
Series I Preferred Stock [Member] | Convertible Debenture [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Convertible Preferred Stock, Shares Issued upon Conversion | shares | 1,000 | |||||||
Senior Secured 2022 Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Repurchased Face Amount | $ 25,000,000 | |||||||
Second Redemption [Member] | Senior Secured 2022 Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Face amount at issuance date | $ 20,000,000 | |||||||
Percentage of principal amount redeemed | 100.00% | |||||||
Redemption date | September 13, 2021 | |||||||
Debt instrument issuance date | September 3, 2021 | |||||||
Third Redemption [Member] | Senior Secured 2022 Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Face amount at issuance date | $ 20,000,000 | |||||||
Percentage of principal amount redeemed | 100.00% | |||||||
Redemption date | September 24, 2021 | |||||||
Debt instrument issuance date | September 14, 2021 | |||||||
Fourth Redemption [Member] | Senior Secured 2022 Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Face amount at issuance date | $ 10,000,000 | |||||||
Percentage of principal amount redeemed | 100.00% | |||||||
Redemption date | October 11, 2021 | |||||||
Debt instrument issuance date | October 1, 2021 | |||||||
Fifth Redemption [Member] | Senior Secured 2022 Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Face amount at issuance date | $ 25,000,000 | |||||||
Percentage of principal amount redeemed | 100.00% | |||||||
Redemption date | March 30, 2022 | |||||||
Debt instrument issuance date | March 18, 2022 | |||||||
First Loan [Member] | Emporiki Bank of Greece $23.0m [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Long-term Debt, Description | in order to partially finance the construction of one Panamax vessel | |||||||
Amount outstanding | $ 0 | |||||||
Line of credit facility initiation date | August 2011 | |||||||
Maximum borrowing capacity | $ 23,000,000 | |||||||
Number of repayment installments | 5 | |||||||
Repayment frequency | semi-annual | |||||||
Repayment installment | $ 750,000 | |||||||
Balloon payment on the last repayment date | $ 8,850,000 | |||||||
Line of Credit Facility, Interest Rate Description | LIBOR | |||||||
Loan margin percentage | 2.75% | |||||||
Second Loan [Member] | Emporiki Bank of Greece $23.0m [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Long-term Debt, Description | in order to partially finance the construction of one newbuilding bulk carrier | |||||||
Amount outstanding | $ 0 | |||||||
Line of credit facility initiation date | December 2011 | |||||||
Maximum borrowing capacity | $ 23,000,000 | |||||||
Number of repayment installments | 3 | |||||||
Repayment frequency | semi-annual | |||||||
Repayment installment | $ 750,000 | |||||||
Balloon payment on the last repayment date | $ 9,150,000 | |||||||
Line of Credit Facility, Interest Rate Description | LIBOR | |||||||
Loan margin percentage | 3.25% | |||||||
Tranche A [Member] | DVB Bank SE $42.0m [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Long-term Debt, Description | in order to finance the acquisition of a Handysize vessel | |||||||
Maximum borrowing capacity | $ 26,000,000 | |||||||
Tranche B [Member] | DVB Bank SE $42.0m [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Long-term Debt, Description | to refinance the outstanding debt of an Ultra-Handymax vessel | |||||||
Maximum borrowing capacity | $ 16,000,000 | |||||||
Number of repayment installments | 2 | |||||||
Repayment frequency | quarterly | |||||||
Repayment installment | $ 268,000 | |||||||
Balloon payment on the last repayment date | 3,968,000 | |||||||
Tranche C [Member] | DVB Bank SE $42.0m [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Long-term Debt, Description | in order to finance the acquisition of a Capesize vessel | |||||||
Maximum borrowing capacity | $ 30,000,000 | |||||||
Line of credit facility issuance date | Jun. 27, 2014 | |||||||
Tranche A and Tranche C [Member] | Amended DVB Bank SE $42.0m [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Repayments of Debt | $ 33,003,000 | |||||||
Repayment date | September 2020 | |||||||
First four installments [Member] | Loan Facility Credit Agricole ($105,000) [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Repayment installment | $ 6,500,000 | |||||||
Repayment frequency | quarterly | |||||||
Next eight installments [Member] | Loan Facility Credit Agricole ($105,000) [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Repayment installment | $ 4,750,000 | |||||||
Repayment frequency | quarterly | |||||||
Three of the four new sale and leaseback agreements [Member] | Sale and Leaseback Agreements $77,000 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Proceeds from Lines of Credit | $ 58,000,000 | |||||||
One Dry Bulk Vessels [Member] | Sale and Leaseback Agreements $77,000 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Repayment frequency | monthly | |||||||
Three out of four dry bulk vessels [Member] | Sale and Leaseback Agreements $77,000 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Outstanding balance under sale and leaseback transaction | $ 57,445,000 | |||||||
Fourth Sale And Leaseback Agreement [Member] | Sale and Leaseback Agreements $77,000 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Repayment frequency | monthly | |||||||
Finance lease, liability | $ 19,000,000 | |||||||
Number of repayment installments | 84 | |||||||
Debt Instrument, Periodic Payment | $ 643,000 | |||||||
Debt Instrument, Maturity Date, Description | first quarter of 2029 | |||||||
Balloon payment | $ 1,000,000 | |||||||
Drawn down date | January, 2022 | |||||||
Senior Secured 2022 Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Initiation date | November 21, 2017 | |||||||
Face amount at issuance date | $ 305,000,000 | |||||||
Fixed interest rate | 11.25% | |||||||
Debt instrument, issuance price percentage | 97.00% | |||||||
Description of collateral | The 2022 Senior Secured Notes are secured by a first priority lien on certain capital stock owned by certain of the subsidiary guarantors of Navios Holdings in each of Navios GP L.L.C., Navios Logistics and Navios Partners | |||||||
Debt Instrument, Covenant Description | The 2022 Senior Secured Notes contain covenants which, among other things, limit the incurrence of additional indebtedness, issuance of certain preferred stock, the payment of dividends, redemption or repurchase of capital stock or making restricted payments and investments, creation of certain liens, transfer or sale of assets, entering in transactions with affiliate companies, merging or consolidating or selling all or substantially all of the Co-Issuers’ properties and assets and creation or designation of restricted subsidiaries. The indenture governing the 2022 Senior Secured Notes includes customary events of default. | |||||||
Debt Instrument, Covenant Compliance | The Co-Issuers were in compliance with the covenants as of December 31, 2021. | |||||||
Debt Instrument, Repurchased Face Amount | $ 150,000,000 | |||||||
Amount outstanding | $ 130,000,000 | |||||||
Maturity date | August 2022 | |||||||
Senior Secured 2022 Notes [Member] | Upon occurrence of certain change of control events [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Redemption price percentage | 101.00% | |||||||
Sixth Supplemental Indenture [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Initiation date | October 1, 2020 | |||||||
Long-term Debt, Description | to amend the terms of the indenture and related pledge agreements governing the 2022 Senior Secured Notes following its receipt of consents from bondholders representing a majority in aggregate principal amount (the “Consenting Noteholders”) of the 2022 Senior Secured Notes | |||||||
Consent Agreement [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Initiation date | October 1, 2020 | |||||||
Long-term Debt, Description | which amendments required consent from 66 2/3% of the outstanding 2022 Senior Secured Notes affected. | |||||||
Seventh Supplemental Indenture [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Initiation date | November 17, 2020 | |||||||
Long-term Debt, Description | to further amend the terms of the indenture governing the 2022 Senior Secured Notes, pursuant to which Wilmington Trust, National Association became the successor Trustee and successor Collateral Trustee in respect of the 2022 Senior Secured Notes. | |||||||
Eighth Supplemental Indenture [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Initiation date | June 29, 2021 | |||||||
Debt Instrument, Repurchased Face Amount | $ 100,000 | |||||||
Percentage of principal amount redeemed | 100.00% | |||||||
Eighth Supplemental Indenture [Member] | First Redemption [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Redemption date | July 23, 2021 | |||||||
Proceeds from Lines of Credit | $ 75,264,000 | |||||||
2022 Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Face amount at issuance date | $ 650,000,000 | |||||||
Fixed interest rate | 7.375% | |||||||
Debt Instrument, Repurchased Face Amount | $ 21,356,000 | 20,782,000 | $ 81,235,000 | |||||
Debt instrument issuance date | November 29, 2013 | |||||||
Maturity date | January 2022 | |||||||
Debt Instrument, Repurchase Amount | $ 18,588,000 | 9,443,000 | 50,683,000 | |||||
Gain/ (Loss) on bond and debt extinguishment | 2,728,000 | 11,204,000 | 47,430,000 | |||||
Amount outstanding | $ 455,466,000 | |||||||
Debt Instrument, Collateral | 14 drybulk vessels | |||||||
Cash Collateral for Borrowed Securities | $ 84,260,000 | |||||||
Repayments of Debt | $ 455,566,000 | |||||||
Repayment date | January 2022 | |||||||
2022 Notes [Member] | Navios Logistics [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Repurchased Face Amount | 35,500,000 | |||||||
Debt Instrument, Repurchase Amount | $ 17,642,000 | |||||||
2022 Notes [Member] | Until January 2021 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Collateral | 23 dry bulk vessels | |||||||
Senior Notes 2024 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Redemption price percentage | 100.00% | |||||||
Senior Notes 2024 [Member] | Series H Preferred Stock [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Face amount at issuance date | $ 4,747,000 | |||||||
Fixed interest rate | 9.75% | |||||||
Issuance date/Date of agreement | Mar. 21, 2019 | |||||||
Treasury Stock, Shares, Acquired | shares | 10,930 | |||||||
Senior Notes 2024 [Member] | Series G Preferred Stock [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Face amount at issuance date | $ 3,879,000 | |||||||
Issuance date/Date of agreement | Apr. 21, 2019 | |||||||
Treasury Stock, Shares, Acquired | shares | 8,841 | |||||||
Secured Debt [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Amount outstanding | $ 0 | |||||||
Repayments of Secured Debt | $ 70,074,000 | |||||||
NSM Loan [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Issuance date/Date of agreement | Aug. 29, 2019 | |||||||
Maximum borrowing capacity | $ 141,795,000 | |||||||
Repayment frequency | quarterly | |||||||
Amended NSM Loan [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Long-term Debt, Description | in order to refinance the outstanding balance of this facility with the NSM Loan I | |||||||
Amount outstanding | $ 48,879,000 | |||||||
Line of credit facility initiation date | December 2021 | |||||||
Accrued interest | $ 306,000 | |||||||
$50.0 million NSM Loan [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Long-term Debt, Description | to be used for general corporate purposes. | |||||||
Amount outstanding | $ 39,735,000 | |||||||
Line of credit facility initiation date | June 2020 | |||||||
Maximum borrowing capacity | $ 50,000,000 | |||||||
Number of repayment installments | 18 | |||||||
Repayment frequency | quarterly | |||||||
$115.0 million NSM Loan [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Long-term Debt, Description | (i) to refinance the $50.0 million NSM Loan, (ii) to redeem certain 2022 Senior Secured Notes and (iii) to be used for general corporate purposes. | |||||||
Proceeds from Lines of Credit | $ 115,000,000 | |||||||
Line of credit facility initiation date | June 2021 | |||||||
Maximum borrowing capacity | $ 115,000,000 | |||||||
$115.0 million NSM Loan [Member] | Senior Secured 2022 Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Repurchased Face Amount | $ 70,000,000 | |||||||
Amended $115.0 million NSM Loan [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Long-term Debt, Description | in order to refinance the outstanding balance of this facility through the NSM Loan II | |||||||
Amount outstanding | $ 64,630,000 | |||||||
Issuance date/Date of agreement | Dec. 31, 2021 | |||||||
Accrued interest | $ 571,000 | |||||||
NSM Loan I [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Proceeds from Lines of Credit | 79,059,000 | $ 127,632,000 | ||||||
Line of credit facility initiation date | December 2021 | |||||||
Maximum borrowing capacity | $ 127,632,000 | |||||||
Repayment frequency | quarterly | |||||||
Repayment installment | $ 5,000,000 | |||||||
Number of loan tranches | 2 | |||||||
NSM Loan I [Member] | Tranche A [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Maximum borrowing capacity | $ 48,573,000 | |||||||
NSM Loan I [Member] | Tranche B [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Maximum borrowing capacity | $ 79,059,000 | |||||||
NSM Loan II [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Proceeds from Lines of Credit | $ 70,941,000 | |||||||
Line of credit facility initiation date | December 2021 | |||||||
Maximum borrowing capacity | $ 135,000,000 | |||||||
Repayment frequency | quarterly | |||||||
Repayment installment | $ 5,000,000 | |||||||
Number of loan tranches | 2 | |||||||
NSM Loan II [Member] | Tranche A [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Maximum borrowing capacity | $ 64,059,000 | |||||||
NSM Loan II [Member] | Tranche B [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Maximum borrowing capacity | 70,941,000 | |||||||
2022 Logistics Senior Notes [Member] | Navios Logistics [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Face amount at issuance date | $ 375,000,000 | |||||||
Fixed interest rate | 7.25% | |||||||
Redemption price percentage | 100.00% | |||||||
Gain/ (Loss) on bond and debt extinguishment | $ 2,661,000 | |||||||
Issuance date/Date of agreement | Apr. 22, 2014 | |||||||
Maturity Date | May 1, 2022 | |||||||
Debt Instrument, Redemption Period End Date | Jul. 16, 2020 | |||||||
Navios Logistics Term Loan B Facility [Member] | Navios Logistics [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Face amount at issuance date | $ 100,000,000 | |||||||
Long-term Debt, Description | to pay certain fees and expenses related to the offering, with the balance to be used for general corporate purposes. | |||||||
Gain/ (Loss) on bond and debt extinguishment | $ 1,496,000 | |||||||
Issuance date/Date of agreement | Nov. 3, 2017 | |||||||
Repayments of Debt | $ 97,500,000 | |||||||
Loan margin percentage | 4.75% | |||||||
Repayment date | July 8, 2020 | |||||||
Interest rate | LIBOR | |||||||
Debt amortization percentage | 1.00% | |||||||
Repayments of Related Party Debt | $ 375,000,000 | |||||||
2025 Logistics Senior Notes [Member] | Navios Logistics [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Face amount at issuance date | $ 500,000,000 | |||||||
Debt Instrument, Covenant Description | The 2025 Logistics Senior Notes are secured by (i) first priority ship mortgages on four tanker vessels servicing the Navios Logistics’ cabotage business (the (1) Elena H, (2) Makenita H, (3) Sara H and (4) He Man H) owned by certain subsidiary guarantors (such guarantors, the “Mortgaged Vessel Guarantors”) and related assignments of earnings and insurance together with a first priority lien on the capital stock of each Mortgaged Vessel Guarantor; and (ii) an assignment by way of security of the Vale port contract (collectively, the “Collateral”). | |||||||
Debt Instrument, Covenant Compliance | The Logistics Co-Issuers were in compliance with the covenants as of December 31, 2021. | |||||||
Long-term Debt, Description | to satisfy and discharge the indenture governing the 2022 Logistics Senior Notes | |||||||
Gain/ (Loss) on bond and debt extinguishment | $ 4,157,000 | |||||||
Issuance date/Date of agreement | Jul. 8, 2020 | |||||||
Proceeds from Issuance of Senior Long-term Debt | $ 487,504,000 | |||||||
Debt finance costs | $ 15,927,000 | 19,414,000 | ||||||
2025 Logistics Senior Notes [Member] | Upon occurrence of certain change of control events [Member] | Navios Logistics [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Percentage of principal amount redeemed | 100.00% | |||||||
2025 Logistics Senior Notes [Member] | Prior to August 1, 2022 [Member] | Navios Logistics [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Redemption price percentage | 110.75% | |||||||
Percentage of principal amount redeemed | 35.00% | |||||||
Debt Instrument, Redemption, Description | Prior to August 1, 2022, the Logistics Co-Issuers may also redeem all or a part of the 2025 Logistics Senior Notes at a redemption price equal to the sum of: (a) 100% of the principal amount of the 2025 Logistics Senior Notes to be redeemed; plus (b) the applicable “make-whole” premium described in the Indenture governing the 2025 Logistics Senior Notes, plus (c) accrued and unpaid interest, if any, on the 2025 Logistics Senior Notes to be redeemed, to (but excluding) the applicable redemption date, subject to the right of holders of notes on the relevant record date to receive interest due on all the relevant interest payment dates. | |||||||
Navios Logistics Notes Payable [Member] | Navios Logistics [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Amount outstanding | $ 12,463,000 | |||||||
Maximum borrowing capacity | $ 41,964,000 | |||||||
Number of repayment installments | 16 | |||||||
Repayment frequency | semi-annual | |||||||
Interest rate | six-month LIBOR | |||||||
Debt finance costs | $ 5,949,000 | |||||||
Navios Logistics New BBVA Loan Facility [Member] | Navios Logistics [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Face amount at issuance date | $ 25,000,000 | |||||||
Debt Instrument, Covenant Compliance | Navios Logistics was in compliance with the covenants set forth in the Navios Logistics New BBVA Facility as of December 31, 2021. | |||||||
Amount outstanding | $ 12,000,000 | 22,000,000 | ||||||
Issuance date/Date of agreement | Feb. 28, 2020 | |||||||
Repayment frequency | quarterly | |||||||
Loan margin percentage | 3.25% | |||||||
Sale and Leaseback Transaction Description | The Navios Logistics New BBVA Facility was used to repay the then existed debt with the bank, and for general corporate purposes. | |||||||
Drawn down date | July 8, 2020 | |||||||
Maturity Date | Mar. 31, 2022 | |||||||
Interest rate | LIBOR | |||||||
Description of collateral | was secured by assignments of certain receivables. | |||||||
Navios Logistics 2022 BBVA Facility [Member] | Navios Logistics [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Issuance date/Date of agreement | Mar. 23, 2022 | |||||||
Sale and Leaseback Transaction Description | in order to refinance the outstanding balance of Navios Logistics New BBVA Facility through the Navios Logistics 2022 BBVA Facility. | |||||||
Navios Logistics Alpha Bank Loan [Member] | Navios Logistics [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Face amount at issuance date | $ 14,000,000 | |||||||
Debt Instrument, Covenant Compliance | Navios Logistics was in compliance with the covenants set forth in the Navios Logistics Alpha Bank Loan as of December 31, 2021. | |||||||
Amount outstanding | $ 7,700,000 | $ 9,100,000 | ||||||
Issuance date/Date of agreement | May 18, 2017 | |||||||
Balloon payment on the last repayment date | $ 7,000,000 | |||||||
Loan margin percentage | 3.15% | |||||||
Repayment frequency | quarterly | |||||||
Sale and Leaseback Transaction Description | in order to finance the acquisition of two product tankers | |||||||
Interest rate | LIBOR (90 days) | |||||||
Number of repayment installment | 20 | |||||||
Amended Navios Logistics Alpha Bank Loan [Member] | Navios Logistics [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Face amount at issuance date | $ 7,000,000 | |||||||
Line of credit facility initiation date | December 2021 | |||||||
Balloon payment on the last repayment date | $ 2,800,000 | |||||||
Repayment frequency | quarterly | |||||||
Sale and Leaseback Transaction Description | to amend the Navios Logistics Alpha Bank Loan, extending its maturity and amending the repayment schedule. | |||||||
Number of repayment installment | 12 | |||||||
Other long-term loans [Member] | Navios Logistics [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Fixed interest rate | 6.00% | |||||||
Debt Instrument, Covenant Compliance | Navios Logistics was in compliance with all the covenants set forth in this facility as of December 31, 2021. | |||||||
Maximum borrowing capacity | $ 817,000 | |||||||
Repayment frequency | monthly | |||||||
Repayment installment | $ 6,000 | |||||||
Line of credit facility issuance date | Oct. 29, 2009 | |||||||
Sale and Leaseback Transaction Description | in order to finance the construction of the pushboat Nazira. |
Fair Value of Financial Instr_3
Fair Value of Financial Instruments - Fair Value (Table) (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | |
Fair Value Of Financial Instruments | |||
Cash and cash equivalents - Book Value | $ 53,591 | $ 94,881 | |
Cash and cash equivalents - Fair Value | 53,591 | 94,881 | |
Restricted cash - Book Value | 84,260 | 16,303 | |
Restricted cash - Fair Value | 84,260 | 16,303 | |
Investments in available-for-sale securities - Book Value | 219 | 222 | |
Investments in available-for-sale securities - Fair Value | 219 | 222 | |
Senior and ship mortgage notes, net - Book Value | (1,101,931) | (1,263,566) | |
Senior and ship mortgage notes, net - Fair Value | (1,142,545) | (1,054,616) | |
Long-term debt, including current portion - Book Value | (171,919) | (191,636) | |
Long-term debt, including current portion - Fair Value | [1] | (173,213) | (193,043) |
Loans payable to affiliate companies, including current portion - Book Value | (112,634) | (129,227) | |
Loans payable to affiliate companies, including current portion - Fair Value | $ (112,634) | $ (129,227) | |
[1] | The fair value of the Company’s long-term debt is estimated based on currently available debt with similar contract terms, interest rates and remaining maturities, published quoted market prices as well as taking into account the Company’s creditworthiness. |
Fair Value of Financial Instr_4
Fair Value of Financial Instruments - Fair value measurements on a recurring basis (Table) (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments in available-for-sale securities | $ 219 | $ 222 |
Fair Value, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments in available-for-sale securities | 219 | 222 |
Total | 219 | 222 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments in available-for-sale securities | 219 | 222 |
Total | $ 219 | $ 222 |
Fair Value of Financial Instr_5
Fair Value of Financial Instruments - Assets measured at Fair Value on a Non-Recurring Basis (Table) (Details) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Vessels, port terminals and other fixed assets, net | $ 7,500 | $ 38,054 |
Operating lease assets | 10,018 | |
Total | 7,500 | 48,072 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Vessels, port terminals and other fixed assets, net | 7,500 | 31,410 |
Operating lease assets | 10,018 | |
Total | $ 7,500 | 41,428 |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Vessels, port terminals and other fixed assets, net | 6,644 | |
Operating lease assets | 0 | |
Total | $ 6,644 |
Fair Value of Financial Liabili
Fair Value of Financial Liabilities - Non-Recurring Measurements (Table) (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Cash and cash equivalents | $ 53,591 | $ 94,881 | |
Restricted cash | 84,260 | 16,303 | |
Investments in available-for-sale-securities | 219 | 222 | |
Senior and ship mortgage notes | (1,142,545) | (1,054,616) | |
Long-term debt, including current portion | [1] | (173,213) | (193,043) |
Loans payable to affiliate companies, including current portion | (112,634) | (129,227) | |
Loan receivable from affiliate companies | [2] | 0 | |
Long-term receivable from affiliate company | 0 | ||
Long-term payable to affiliate companies | [2] | 0 | |
Fair Value, Inputs, Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Cash and cash equivalents | 53,591 | 94,881 | |
Restricted cash | 84,260 | 16,303 | |
Investments in available-for-sale-securities | 219 | 222 | |
Senior and ship mortgage notes | (1,133,919) | (1,045,990) | |
Long-term debt, including current portion | [1] | 0 | 0 |
Loans payable to affiliate companies, including current portion | 0 | 0 | |
Loan receivable from affiliate companies | [2] | 0 | |
Long-term receivable from affiliate company | 0 | ||
Long-term payable to affiliate companies | [2] | 0 | |
Fair Value, Inputs, Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Cash and cash equivalents | 0 | 0 | |
Restricted cash | 0 | 0 | |
Investments in available-for-sale-securities | 0 | 0 | |
Senior and ship mortgage notes | (8,626) | (8,626) | |
Long-term debt, including current portion | [1] | (173,213) | (193,043) |
Loans payable to affiliate companies, including current portion | $ (112,634) | (129,227) | |
Loan receivable from affiliate companies | [2] | 0 | |
Long-term receivable from affiliate company | 0 | ||
Long-term payable to affiliate companies | [2] | $ 0 | |
[1] | The fair value of the Company’s long-term debt is estimated based on currently available debt with similar contract terms, interest rates and remaining maturities, published quoted market prices as well as taking into account the Company’s creditworthiness. | ||
[2] | The fair value of the Company’s loan receivable from/payable to affiliate companies and long-term receivable from/payable to affiliate companies is estimated based on currently available debt with similar contract terms, interest rate and remaining maturities as well as taking into account the counterparty’s creditworthiness. |
Fair Value of Financial Instr_6
Fair Value of Financial Instruments (Details Narrative) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Three Vessels [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Impairment loss | $ 59,108 | |
Fair value of assets | 38,054 | |
Two chartered-in vessels [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Impairment loss | 1,361 | |
Fair value of assets | $ 10,018 | |
Navios Logistics [Member] | Two tanker vessels [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Impairment loss | $ 21,966 | |
Fair value of assets | $ 7,500 |
Employee Benefit Plans (Table)
Employee Benefit Plans (Table) (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Shares [Member] | ||||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | ||||
Outstanding, shares | 350,000 | 462,293 | 529,768 | 661,977 |
Vested, shares | 0 | 83,333 | 116,667 | |
Exercisable, shares | 0 | 83,333 | 116,667 | |
Forfeited or expired, shares | (112,293) | (67,475) | (132,209) | |
Non Vested, shares | 171,412 | 382,380 | 693,389 | 709,710 |
Granted, shares | 16,000 | 0 | 167,515 | |
Vested, shares | (226,075) | (309,664) | (180,469) | |
Forfeited or expired, shares | (894) | (1,345) | (3,367) | |
Weighted average exercise price [Member] | ||||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | ||||
Outstanding | $ 12 | $ 17.9 | $ 26.6 | $ 28.2 |
Weighted average remaining term [Member] | ||||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 1 year 7 months 28 days | 2 years 3 months | 2 years 11 months 15 days | 3 years 4 months 9 days |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms | 1 year 2 months 1 day | 1 year 8 months 19 days | 2 years 3 months 25 days | 3 years 1 month 9 days |
Aggregate fair value [Member] | ||||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | ||||
Outstanding, value | $ 2,730 | $ 3,815 | $ 5,014 | $ 5,696 |
Forfeited or expired, value | (1,084) | (1,199) | (682) | |
Non vested, value | 667 | 2,453 | 5,329 | $ 6,490 |
Granted, value | 36 | 0 | 476 | |
Vested, value | (1,816) | (2,858) | (1,595) | |
Forfeited or expired, value | $ (6) | $ (17) | $ (42) |
Employee Benefit Plans (Details
Employee Benefit Plans (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Company's contributions to employee saving plan | $ 73 | ||
Discretionary company's contribition to employee saving plan | 0 | ||
Compensation expense | $ 589 | $ 1,268 | $ 2,885 |
Restricted Stock [Member] | |||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Fair value of stock granted | $ 2.28 | $ 0 | $ 2.84 |
Share-based Payment Arrangement, Option [Member] | |||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 350,000 | ||
Service Conditions [Member] | |||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 0 | ||
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $ 256 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 2 years 9 months 21 days |
Commitments and Contingencies (
Commitments and Contingencies (Details Narrative) $ in Thousands | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2020USD ($) | Dec. 31, 2021USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2020USD ($) | |
Property, Plant and Equipment [Line Items] | |||||
Letters of guarantee and letters of credit | $ 10 | $ 10 | |||
Other long term assets | $ 39,255 | 61,900 | |||
Navios Logistics [Member] | Vitol S.A. [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Guarantees | Navios Logistics has issued a guarantee and indemnity letter that guarantees the performance by Petrolera San Antonio S.A. (a consolidated subsidiary) of all its obligations to Vitol S.A. up to $ 12,000 | ||||
Guarantee and indemnity letter | $ 12,000 | ||||
Navios Logistics [Member] | Edolmix S.A. and Energias Renovables del Sur S.A. [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Description of guarantee | On July 22, 2016, Navios Logistics guaranteed the compliance of certain obligations related to Edolmix S.A. and Energías Renovables del Sur S.A. (entities wholly owned by Navios Logistics) under their respective direct user agreements with the Free Zone of Nueva Palmira, for the amounts of $847 and $519, respectively. | ||||
Navios Logistics [Member] | Eldomix S.A. [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Guarantee and indemnity letter | $ 847 | ||||
Navios Logistics [Member] | Energias Renovables del Sur S.A. [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Guarantee and indemnity letter | $ 519 | ||||
Navios Galaxy II [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Date of charter in agreement | December 2017 | ||||
Lessee, Operating Lease, Description | ten year | ||||
Vessel type | bulk carrier | ||||
Vessel Capacity | 81,789 dwt | ||||
Delivery date | March 30, 2020 | ||||
Contractual Obligation | $ 5,410 | ||||
Payments to Acquire Property, Plant, and Equipment | $ 2,705 | ||||
Other long term assets | $ 6,704 | ||||
Navios Herakles I and Navios Uranus [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Date of charter in agreement | January 2018 | ||||
Lessee, Operating Lease, Description | ten-year | ||||
Vessel type | bulk carriers | ||||
Contractual Obligation | $ 11,140 | ||||
Payments to Acquire Property, Plant, and Equipment | 2,800 | $ 8,340 | |||
Other long term assets | $ 14,070 | ||||
Navios Herakles I [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Vessel Capacity | 82,036 dwt | ||||
Delivery date | August 28, 2019 | ||||
Navios Uranus [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Vessel Capacity | 81,516 dwt | ||||
Delivery date | November 28, 2019 | ||||
Navios Felicity I [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Date of charter in agreement | April 2018 | ||||
Lessee, Operating Lease, Description | ten-year | ||||
Vessel type | bulk carrier | ||||
Vessel Capacity | 81,946 dwt | ||||
Delivery date | January 17, 2020 | ||||
Contractual Obligation | $ 5,590 | ||||
Payments to Acquire Property, Plant, and Equipment | 2,795 | 2,795 | |||
Other long term assets | $ 7,193 | ||||
Navios Magellan II [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Date of charter in agreement | October 2018 | ||||
Lessee, Operating Lease, Description | ten-year | ||||
Vessel type | bulk carrier | ||||
Vessel Capacity | 82,037 dwt | ||||
Delivery date | May 15, 2020 | ||||
Contractual Obligation | $ 5,820 | ||||
Payments to Acquire Property, Plant, and Equipment | $ 2,910 | $ 2,910 | |||
Other long term assets | $ 7,506 | ||||
Storage And Transshipment Contract [Member] | Navios Logistics [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Contractual Obligation | $ 4,140 | ||||
Other long term assets | $ 4,102 | ||||
Number of repayment installments | 3 | ||||
Contractual obligation, next rolling twelve months | $ 1,380 | ||||
Contractual obligation due in second year | 1,380 | ||||
Contractual obligation due in third year | $ 1,380 |
Leases - Operating Lease Assets
Leases - Operating Lease Assets and Liabilities (Table) (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Property, Plant and Equipment [Line Items] | ||
Operating lease assets | $ 173,426 | $ 227,962 |
Operating lease liabilities, current portion | 54,747 | 81,415 |
Operating lease liabilities, net of current portion | 144,239 | 193,351 |
Charter-in contracts [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Operating lease assets | 164,268 | 219,574 |
Operating lease liabilities, current portion | 54,490 | 81,276 |
Operating lease liabilities, net of current portion | 135,338 | 185,092 |
Land lease agreements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Operating lease assets | 8,077 | 7,878 |
Operating lease liabilities, current portion | (182) | (199) |
Operating lease liabilities, net of current portion | 8,259 | 8,077 |
Office lease agreements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Operating lease assets | 1,081 | 510 |
Operating lease liabilities, current portion | 439 | 338 |
Operating lease liabilities, net of current portion | 642 | 182 |
Dry Bulk Vessel Operations [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Operating lease assets | 164,268 | 219,574 |
Operating lease liabilities, current portion | 54,490 | 81,276 |
Operating lease liabilities, net of current portion | 135,338 | 185,092 |
Dry Bulk Vessel Operations [Member] | Charter-in contracts [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Operating lease assets | 164,268 | 219,574 |
Operating lease liabilities, current portion | 54,490 | 81,276 |
Operating lease liabilities, net of current portion | 135,338 | 185,092 |
Logistics Business [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Operating lease assets | 9,158 | 8,388 |
Operating lease liabilities, current portion | 257 | 139 |
Operating lease liabilities, net of current portion | 8,901 | 8,259 |
Logistics Business [Member] | Land lease agreements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Operating lease assets | 8,077 | 7,878 |
Operating lease liabilities, current portion | (182) | (199) |
Operating lease liabilities, net of current portion | 8,259 | 8,077 |
Logistics Business [Member] | Office lease agreements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Operating lease assets | 1,081 | 510 |
Operating lease liabilities, current portion | 439 | 338 |
Operating lease liabilities, net of current portion | $ 642 | $ 182 |
Leases - Lease Expenses (Table)
Leases - Lease Expenses (Table) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Property, Plant and Equipment [Line Items] | |||
Lease expenses | $ 79,889 | $ 102,296 | $ 124,480 |
Charter-in contracts [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Lease expenses | 79,011 | 101,132 | 121,427 |
Land lease agreements [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Lease expenses | 571 | 564 | 552 |
Office lease agreements [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Lease expenses | 307 | 600 | 2,501 |
Dry Bulk Vessel Operations [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Lease expenses | 73,124 | 94,545 | 119,387 |
Dry Bulk Vessel Operations [Member] | Charter-in contracts [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Lease expenses | 73,124 | 94,545 | 117,562 |
Dry Bulk Vessel Operations [Member] | Land lease agreements [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Lease expenses | 0 | 0 | 0 |
Dry Bulk Vessel Operations [Member] | Office lease agreements [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Lease expenses | 0 | 0 | 1,825 |
Logistics Business [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Lease expenses | 6,765 | 7,751 | 5,093 |
Logistics Business [Member] | Charter-in contracts [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Lease expenses | 5,887 | 6,587 | 3,865 |
Logistics Business [Member] | Land lease agreements [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Lease expenses | 571 | 564 | 552 |
Logistics Business [Member] | Office lease agreements [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Lease expenses | $ 307 | $ 600 | $ 676 |
Leases - Total amount of lease
Leases - Total amount of lease payments on an undiscounted basis (Table) (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Property, Plant and Equipment [Line Items] | |||
Operating lease liabilities, including current portion | $ 43,516 | $ 47,064 | |
Chartered-in vessels in operations [Member] | |||
Property, Plant and Equipment [Line Items] | |||
December 31, 2022 | $ 68,145 | ||
December 31, 2023 | 55,103 | ||
December 31, 2024 | 39,788 | ||
December 31, 2025 | 19,076 | ||
December 31, 2026 | 15,142 | ||
December 31, 2027 and thereafter | 30,793 | ||
Total | 228,047 | ||
Operating lease liabilities, including current portion | 189,828 | ||
Discount based on incremental borrowing rate | 38,219 | ||
Land Leases [Member] | |||
Property, Plant and Equipment [Line Items] | |||
December 31, 2022 | 556 | ||
December 31, 2023 | 556 | ||
December 31, 2024 | 556 | ||
December 31, 2025 | 556 | ||
December 31, 2026 | 556 | ||
December 31, 2027 and thereafter | 21,889 | ||
Total | 24,669 | ||
Operating lease liabilities, including current portion | 8,077 | ||
Discount based on incremental borrowing rate | 16,592 | ||
Office Space [Member] | |||
Property, Plant and Equipment [Line Items] | |||
December 31, 2022 | 514 | ||
December 31, 2023 | 414 | ||
December 31, 2024 | 182 | ||
December 31, 2025 | 60 | ||
December 31, 2026 | 53 | ||
December 31, 2027 and thereafter | 0 | ||
Total | 1,223 | ||
Operating lease liabilities, including current portion | 1,081 | ||
Discount based on incremental borrowing rate | $ 142 |
Leases - Future Revenue for Cha
Leases - Future Revenue for Chartered-out Vessels, Barges, Pushboats and for Logistics Business (Table) (Details) $ in Thousands | Dec. 31, 2021USD ($) |
Dry bulk vessels [Member] | |
2022 | $ 79,330 |
2023 | 0 |
2024 | 0 |
2025 | 0 |
2026 | 0 |
2027 and thereafter | 0 |
Total minimum revenue, net of commissions | 79,330 |
Logistics Business [Member] | |
2022 | 131,588 |
2023 | 113,651 |
2024 | 96,724 |
2025 | 83,910 |
2026 | 54,962 |
2027 and thereafter | 572,033 |
Total minimum revenue, net of commissions | $ 1,052,868 |
Leases (Details Narrative)
Leases (Details Narrative) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Operating lease discount rate | 8.25% | ||
Operating Lease, Liability | $ 43,516 | $ 47,064 | |
Navios Logistics [Member] | |||
Operating lease discount rate | 7.25% | ||
Charter-in and bareboat contracts [Member] | Minimum [Member] | |||
Operating lease remaining lease term | 3 months 18 days | ||
Charter-in and bareboat contracts [Member] | Maximum [Member] | |||
Operating lease remaining lease term | 8 years 6 months | ||
Land lease agreements [Member] | |||
Operating lease remaining lease term | 44 years 3 months 18 days | 45 years 3 months 18 days | |
Land lease agreements [Member] | Minimum [Member] | Navios Logistics [Member] | |||
Operating lease remaining lease term | 44 years 2 months 12 days | ||
Land lease agreements [Member] | Maximum [Member] | Navios Logistics [Member] | |||
Operating lease remaining lease term | 44 years 7 months 6 days | ||
Office lease agreements [Member] | |||
Operating lease remaining lease term | 2 years 8 months 12 days | 1 year 6 months | |
Office lease agreements [Member] | Minimum [Member] | Navios Logistics [Member] | |||
Operating lease remaining lease term | 6 months | ||
Office lease agreements [Member] | Maximum [Member] | Navios Logistics [Member] | |||
Operating lease remaining lease term | 4 years 10 months 24 days | ||
One Previously Chartered In Vessel [Member] | |||
Amount written off | $ 3,952 | ||
Gain on sale of vessel | 12,541 | ||
Chartered-in vessels [Member] | |||
Amount written off | $ 0 | $ 1,361 | $ 38,636 |
Charter-in contracts [Member] | |||
Operating lease remaining lease term | 4 years 8 months 12 days | 4 years 10 months 24 days |
Transactions with Related Par_2
Transactions with Related Parties (Details Narrative) | Jan. 05, 2022USD ($) | Mar. 31, 2021USD ($) | Mar. 31, 2017USD ($) | May 01, 2022USD ($) | Apr. 30, 2020USD ($) | Apr. 21, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2019USD ($) | Jul. 13, 2021USD ($)shares | Jun. 30, 2021USD ($) | Jul. 10, 2020USD ($)shares | Jun. 30, 2020 | Jul. 31, 2021USD ($) | Jul. 30, 2021USD ($) | Aug. 31, 2021USD ($) | Aug. 31, 2019USD ($) | Aug. 30, 2019USD ($) | Sep. 30, 2020USD ($) | Dec. 02, 2019USD ($) | Dec. 31, 2021USD ($)shares | Dec. 31, 2020USD ($)shares | Dec. 31, 2019USD ($) | Apr. 04, 2022shares | Mar. 31, 2022USD ($) | Jan. 03, 2022shares | Jan. 01, 2020USD ($) | Dec. 31, 2016USD ($) | Feb. 18, 2015USD ($) | Feb. 04, 2015 |
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Proceeds from Divestiture of Businesses | $ 0 | $ 0 | $ 3,000,000 | ||||||||||||||||||||||||||
General and Administrative Expense | 31,327,000 | 33,702,000 | 36,194,000 | ||||||||||||||||||||||||||
Due to Affiliate, Current | 21,028,000 | 27,114,000 | |||||||||||||||||||||||||||
Net liabilities included in sale price | 5,766,000 | 4,378,000 | 0 | ||||||||||||||||||||||||||
Proceeds from Related Party Debt | 115,000,000 | 50,000,000 | 0 | ||||||||||||||||||||||||||
Due from affiliate, current | 0 | 243,000 | |||||||||||||||||||||||||||
Equity Method Investment, Other than Temporary Impairment | 0 | 6,050,000 | 0 | ||||||||||||||||||||||||||
Long-term Debt, Current Maturities | 307,451,000 | 374,191,000 | |||||||||||||||||||||||||||
Notes Payable, Related Parties, Current | 877,000 | 26,595,000 | |||||||||||||||||||||||||||
Long-term Debt, Gross | $ 1,405,814,000 | $ 1,612,718,000 | |||||||||||||||||||||||||||
Common Stock, Shares, Outstanding | shares | 25,198,620 | 15,881,147 | |||||||||||||||||||||||||||
Convertible Debenture [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Number of trading days | 36 | ||||||||||||||||||||||||||||
Convertible Debt | $ 24,000,000 | ||||||||||||||||||||||||||||
Common Stock, Shares, Outstanding | shares | 9,133,147 | ||||||||||||||||||||||||||||
Senior Secured 2022 Notes [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Debt Instrument, Repurchased Face Amount | $ 25,000,000 | ||||||||||||||||||||||||||||
Common Stock [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Common Stock, Shares, Outstanding | shares | 25,198,620 | 15,881,147 | |||||||||||||||||||||||||||
Series I Preferred Stock [Member] | Convertible Debenture [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Convertible Preferred Stock, Shares Issued upon Conversion | shares | 1,000 | ||||||||||||||||||||||||||||
Grimaud Loan [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Revolving loan facility maximum borrowing capacity | $ 50,000,000 | ||||||||||||||||||||||||||||
Line of Credit Facility, Increase (Decrease), Net | $ 20,000,000 | ||||||||||||||||||||||||||||
Repayments of Debt | $ 7,500,000 | ||||||||||||||||||||||||||||
Line of credit facility initiation date | April 25, 2019 | ||||||||||||||||||||||||||||
Description of borrowings | to be used for general corporate purposes, including the repurchase of 2022 Notes | ||||||||||||||||||||||||||||
Description of collateral | This credit facility was secured by any 2022 Notes purchased by Navios Holdings with these funds. | ||||||||||||||||||||||||||||
Line Credit Facility Arrangement Fees | $ 500,000 | ||||||||||||||||||||||||||||
Line of Credit Facility, Interest Rate at Period End | 10.00% | ||||||||||||||||||||||||||||
Maturity date | December 2024 | ||||||||||||||||||||||||||||
Grimaud Loan [Member] | Common Stock [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Stock Issued During Period, Shares, Treasury Stock Reissued | shares | 9,301,542 | ||||||||||||||||||||||||||||
Amended Grimaud Loan [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Line of Credit Facility, Interest Rate at Period End | 13.00% | ||||||||||||||||||||||||||||
Supplemental Grimaud Loan [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Repayments of Debt | $ 7,500,000 | ||||||||||||||||||||||||||||
Line of credit facility initiation date | June 30, 2021 | ||||||||||||||||||||||||||||
Navios Europe I [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Due from Affiliates | $ 0 | $ 0 | |||||||||||||||||||||||||||
Proceeds from Related Party Debt | $ 13,420,000 | ||||||||||||||||||||||||||||
Navios Europe I [Member] | Navios Revolving Loans I [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Distribution percentage | 1270.00% | ||||||||||||||||||||||||||||
Navios Europe II [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Due from Affiliates | $ 20,712,000 | $ 20,712,000 | 0 | $ 20,712,000 | |||||||||||||||||||||||||
Due from affiliate, current | 13,154,000 | 13,154,000 | 13,154,000 | ||||||||||||||||||||||||||
Due from affiliate, non current | 7,558,000 | 7,558,000 | 7,558,000 | ||||||||||||||||||||||||||
Navios Europe II [Member] | Navios Revolving Loans II [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Revolving loan facility maximum borrowing capacity | $ 43,500,000 | ||||||||||||||||||||||||||||
Distribution percentage | 1.80% | ||||||||||||||||||||||||||||
Line of Credit Facility, Increase (Decrease), Net | $ 14,000,000 | ||||||||||||||||||||||||||||
Loan receivable from affiliate companies | 16,938,000 | 16,938,000 | 16,938,000 | $ 14,000,000 | |||||||||||||||||||||||||
Share Repurchase Program [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Units of Partnership Interest, Amount | shares | 1,754,981 | ||||||||||||||||||||||||||||
Minimum [Member] | Convertible Debenture [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Debt Instrument, Convertible, Conversion Ratio | 5 | ||||||||||||||||||||||||||||
Maximum [Member] | Convertible Debenture [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Debt Instrument, Convertible, Conversion Ratio | 10 | ||||||||||||||||||||||||||||
Midstream General Partner Option Agreement [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Description | Navios Holdings entered into an option agreement, with Navios Acquisition under which Navios Acquisition, which owns and controls Navios Maritime Midstream Partners GP LLC (“Midstream General Partner”), granted Navios Holdings the option to acquire a minimum of 25% of the outstanding membership interests in Midstream General Partner and the incentive distribution rights in Navios Midstream representing the right to receive an increasing percentage of the quarterly distributions when certain conditions are met. The option shall expire on November 18, 2024. The purchase price for the acquisition for all or part of the option interest shall be an amount equal to its fair market value. As of December 31, 2021, Navios Holdings had not exercised any part of that option | ||||||||||||||||||||||||||||
Navios Partners Guarantee [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Repayment date | April 2021 | ||||||||||||||||||||||||||||
Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid | $ 5,000,000 | ||||||||||||||||||||||||||||
Upon Sale Of Vessels To Navios Partners [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Deferred Gain | 1,842,000 | 1,842,000 | $ 0 | 0 | 1,842,000 | $ 6,285,000 | |||||||||||||||||||||||
First Year [Member] | Grimaud Loan [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Line of Credit Facility, Interest Rate During Period | 12.75% | ||||||||||||||||||||||||||||
Second Year [Member] | Grimaud Loan [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Line of Credit Facility, Interest Rate During Period | 14.75% | ||||||||||||||||||||||||||||
NSM Loan [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Revolving loan facility maximum borrowing capacity | $ 141,795,000 | ||||||||||||||||||||||||||||
Debt Instrument, Issuance Date | Aug. 29, 2019 | ||||||||||||||||||||||||||||
Long-term Debt, Current Maturities | 47,000,000 | ||||||||||||||||||||||||||||
Repayment frequency | quarterly | ||||||||||||||||||||||||||||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 5.00% | ||||||||||||||||||||||||||||
Interest rate for deferred principal amounts | 7.00% | ||||||||||||||||||||||||||||
Debt instrument, carrying amount before accrued interest | $ 48,573,000 | 78,375,000 | |||||||||||||||||||||||||||
Debt Instrument, Increase, Accrued Interest | 306,000 | 526,000 | |||||||||||||||||||||||||||
Notes Payable, Related Parties, Current | $ 306,000 | 10,328,000 | |||||||||||||||||||||||||||
NSM Loan [Member] | Tranche A and B [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Line of Credit Facility, Frequency of Payments | quarterly | ||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.50% | ||||||||||||||||||||||||||||
Junior Loan II [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Repayments of Debt | $ 5,000,000 | ||||||||||||||||||||||||||||
Junior Loan II [Member] | Navios Europe II [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Repayments of Debt | $ 5,000,000 | $ 5,000,000 | |||||||||||||||||||||||||||
$50.0 million NSM Loan [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Revolving loan facility maximum borrowing capacity | $ 50,000,000 | ||||||||||||||||||||||||||||
Line of credit facility initiation date | June 2020 | ||||||||||||||||||||||||||||
Description of borrowings | to be used for general corporate purposes. | ||||||||||||||||||||||||||||
Repayment frequency | quarterly | ||||||||||||||||||||||||||||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 5.00% | ||||||||||||||||||||||||||||
Interest rate for deferred principal amounts | 7.00% | ||||||||||||||||||||||||||||
Number of repayment installments | 18 | ||||||||||||||||||||||||||||
Long-term Debt, Gross | $ 39,735,000 | ||||||||||||||||||||||||||||
$115.0 million NSM Loan [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Revolving loan facility maximum borrowing capacity | $ 115,000,000 | ||||||||||||||||||||||||||||
Line of credit facility initiation date | June 2021 | ||||||||||||||||||||||||||||
Description of borrowings | (i) to refinance the $50.0 million NSM Loan, (ii) to redeem certain 2022 Senior Secured Notes and (iii) to be used for general corporate purposes. | ||||||||||||||||||||||||||||
Proceeds from Lines of Credit | $ 115,000,000 | ||||||||||||||||||||||||||||
$115.0 million NSM Loan [Member] | Senior Secured 2022 Notes [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Debt Instrument, Repurchased Face Amount | $ 70,000,000 | ||||||||||||||||||||||||||||
$115.0 million NSM Loan [Member] | Tranche A [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Number of repayment installments | 14 | ||||||||||||||||||||||||||||
Long-term Debt, Gross | $ 39,736,000 | ||||||||||||||||||||||||||||
Line of Credit Facility, Frequency of Payments | quarterly | ||||||||||||||||||||||||||||
Line of Credit Facility, Periodic Payment | $ 2,838,000 | ||||||||||||||||||||||||||||
Debt Instrument, Maturity Date | Nov. 30, 2024 | ||||||||||||||||||||||||||||
$115.0 million NSM Loan [Member] | Tranche B [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Number of repayment installments | 7 | ||||||||||||||||||||||||||||
Line of Credit Facility, Frequency of Payments | quarterly | ||||||||||||||||||||||||||||
Debt Instrument, Maturity Date | Feb. 28, 2023 | ||||||||||||||||||||||||||||
$115.0 million NSM Loan [Member] | First Two Installments [Member] | Tranche B [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Line of Credit Facility, Periodic Payment | $ 22,632,000 | ||||||||||||||||||||||||||||
$115.0 million NSM Loan [Member] | Remaining Installments [Member] | Tranche B [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Line of Credit Facility, Periodic Payment | $ 6,000,000 | ||||||||||||||||||||||||||||
$115.0 million NSM Loan [Member] | Payment Deferral [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | ||||||||||||||||||||||||||||
Debt instrument, maximum deferred discount amortization period | 90 days | ||||||||||||||||||||||||||||
Amended NSM Loan I [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Debt instrument, carrying amount before accrued interest | $ 64,059,000 | ||||||||||||||||||||||||||||
Debt Instrument, Increase, Accrued Interest | 571,000 | ||||||||||||||||||||||||||||
Debt Issuance Costs, Net | 875,000 | ||||||||||||||||||||||||||||
NSM Loan I [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Revolving loan facility maximum borrowing capacity | $ 127,632,000 | ||||||||||||||||||||||||||||
Line of credit facility initiation date | December 2021 | ||||||||||||||||||||||||||||
Limited Partners' Capital Account, Units Outstanding | shares | 2,072,121 | ||||||||||||||||||||||||||||
Line of Credit Facility, Frequency of Payments | quarterly | ||||||||||||||||||||||||||||
Line of Credit Facility, Periodic Payment | $ 5,000,000 | ||||||||||||||||||||||||||||
Number of loan tranches | 2 | ||||||||||||||||||||||||||||
Proceeds from Lines of Credit | $ 79,059,000 | $ 127,632,000 | |||||||||||||||||||||||||||
NSM Loan I [Member] | Tranche A [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Revolving loan facility maximum borrowing capacity | $ 48,573,000 | ||||||||||||||||||||||||||||
NSM Loan I [Member] | Tranche B [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Revolving loan facility maximum borrowing capacity | $ 79,059,000 | ||||||||||||||||||||||||||||
NSM Loan I [Member] | Until the 2022 Senior Secured Notes are repaid [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Interest rate | 18% | ||||||||||||||||||||||||||||
NSM Loan I [Member] | After the 2022 Senior Secured Notes are repaid [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Interest rate | 16.5% | ||||||||||||||||||||||||||||
NSM Loan I [Member] | When paid in form of cash [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Interest rate | 13.5% | ||||||||||||||||||||||||||||
NSM Loan II [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Revolving loan facility maximum borrowing capacity | $ 135,000,000 | ||||||||||||||||||||||||||||
Line of credit facility initiation date | December 2021 | ||||||||||||||||||||||||||||
Line of Credit Facility, Frequency of Payments | quarterly | ||||||||||||||||||||||||||||
Line of Credit Facility, Periodic Payment | $ 5,000,000 | ||||||||||||||||||||||||||||
Number of loan tranches | 2 | ||||||||||||||||||||||||||||
Proceeds from Lines of Credit | $ 70,941,000 | ||||||||||||||||||||||||||||
NSM Loan II [Member] | Tranche A [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Revolving loan facility maximum borrowing capacity | $ 64,059,000 | ||||||||||||||||||||||||||||
NSM Loan II [Member] | Tranche B [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Revolving loan facility maximum borrowing capacity | $ 70,941,000 | ||||||||||||||||||||||||||||
NSM Loan II [Member] | Until the 2022 Senior Secured Notes are repaid [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Interest rate | 18% | ||||||||||||||||||||||||||||
NSM Loan II [Member] | After the 2022 Senior Secured Notes are repaid [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Interest rate | 16.5% | ||||||||||||||||||||||||||||
NSM Loan II [Member] | When paid in form of cash [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Interest rate | 13.5% | ||||||||||||||||||||||||||||
Navios Centaurus [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Year built | 2012 | ||||||||||||||||||||||||||||
Vessel type | Panamax | ||||||||||||||||||||||||||||
Vessel Capacity | 81,472 | ||||||||||||||||||||||||||||
Navios Avior [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Year built | 2012 | ||||||||||||||||||||||||||||
Vessel type | Panamax | ||||||||||||||||||||||||||||
Vessel Capacity | 81,355 | ||||||||||||||||||||||||||||
Navios Centaurus and Navios Avior [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Sale price | $ 39,250,000 | ||||||||||||||||||||||||||||
Navios Ray [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Year built | 2012 | ||||||||||||||||||||||||||||
Vessel type | Capesize | ||||||||||||||||||||||||||||
Vessel Capacity | 179,515 | ||||||||||||||||||||||||||||
Navios Bonavis [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Year built | 2009 | ||||||||||||||||||||||||||||
Vessel type | Capesize | ||||||||||||||||||||||||||||
Vessel Capacity | 180,022 | ||||||||||||||||||||||||||||
Navios Ray And Navios Bonavis [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Sale price | $ 58,000,000 | ||||||||||||||||||||||||||||
Navios Koyo [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Year built | 2011 | ||||||||||||||||||||||||||||
Vessel type | Capesize | ||||||||||||||||||||||||||||
Sale price | $ 28,500,000 | ||||||||||||||||||||||||||||
Navios Azimuth [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Year built | 2011 | ||||||||||||||||||||||||||||
Vessel type | Capesize | ||||||||||||||||||||||||||||
Vessel Capacity | 179,169 | ||||||||||||||||||||||||||||
Sale price | $ 30,000,000 | ||||||||||||||||||||||||||||
Navios Gem [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Year built | 2014 | ||||||||||||||||||||||||||||
Vessel type | Capesize | ||||||||||||||||||||||||||||
Vessel Capacity | 181,336 | ||||||||||||||||||||||||||||
Navios Victory [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Year built | 2014 | ||||||||||||||||||||||||||||
Vessel type | Panamax | ||||||||||||||||||||||||||||
Vessel Capacity | 77,095 | ||||||||||||||||||||||||||||
Navios Gem and Navios Victory [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Sale price | $ 51,000,000 | ||||||||||||||||||||||||||||
Net liabilities included in sale price | $ 4,378,000 | ||||||||||||||||||||||||||||
Midstream General Partner Option Agreement [Member] | Minimum [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Economic interests | 20.00% | ||||||||||||||||||||||||||||
NSM [Member] | Owned Vessels [Member] | Management Agreement [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Daily management fee | $ 3,700 | $ 3,800 | |||||||||||||||||||||||||||
Rate of annual increase in management fees | 3.00% | ||||||||||||||||||||||||||||
Navios Logistics Agreement [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
General and Administrative Expense | $ 381,000 | $ 763,000 | $ 1,144,000 | 1,144,000 | |||||||||||||||||||||||||
Navios Logistics [Member] | Amended Grimaud Loan [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Repayments of Related Party Debt | $ 2,308,000 | ||||||||||||||||||||||||||||
Navios Logistics [Member] | Amended Grimaud Loan [Member] | Common Stock [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | shares | 2,414,263 | ||||||||||||||||||||||||||||
Navios Partners [Member] | $50.0 million NSM Loan [Member] | First Priority Mortgage [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Limited Partners' Capital Account, Units Outstanding | shares | 40,587 | ||||||||||||||||||||||||||||
Navios Partners [Member] | NSM Loan I [Member] | First Priority Mortgage [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Limited Partners' Capital Account, Units Outstanding | shares | 40,587 | ||||||||||||||||||||||||||||
Navios Partners [Member] | NSM Loan I [Member] | Second Priority Mortgage [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Limited Partners' Capital Account, Units Outstanding | shares | 1,070,491 | ||||||||||||||||||||||||||||
Navios Partners [Member] | NSM Loan II [Member] | First Priority Mortgage [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Limited Partners' Capital Account, Units Outstanding | shares | 40,587 | ||||||||||||||||||||||||||||
Navios Partners [Member] | NSM Loan II [Member] | Second Priority Mortgage [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Limited Partners' Capital Account, Units Outstanding | shares | 1,070,491 | ||||||||||||||||||||||||||||
Grimaud [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Line of Credit Facility, Increase (Decrease), Net | $ 20,000,000 | ||||||||||||||||||||||||||||
NSM [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Other income/ (expense), net | 15,750,000 | ||||||||||||||||||||||||||||
Due to Affiliate, Current | $ 21,028,000 | 22,114,000 | |||||||||||||||||||||||||||
NSM [Member] | The Transaction [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Proceeds from Divestiture of Businesses | $ 20,000,000 | ||||||||||||||||||||||||||||
NSM [Member] | Management Agreement [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Voyage expenses | 149,184,000 | ||||||||||||||||||||||||||||
Termination date of agreement | August 29, 2024 | ||||||||||||||||||||||||||||
Management Fee Expense | $ 37,813,000 | 45,487,000 | 14,372,000 | ||||||||||||||||||||||||||
NSM [Member] | Management Agreement [Member] | Chartered-in vessels [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Daily management fee | 30 | ||||||||||||||||||||||||||||
NSM [Member] | Administrative Services Agreement [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
General and Administrative Expense | $ 2,952,000 | $ 16,991,000 | $ 8,572,000 | 9,371,000 | |||||||||||||||||||||||||
Administrative services agreement term in years | 5 years | ||||||||||||||||||||||||||||
NSM [Member] | Administrative Services Agreement [Member] | Automatic Extension [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Administrative services agreement term in years | 5 years | ||||||||||||||||||||||||||||
Acropolis [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Commissions paid | $ 0 | ||||||||||||||||||||||||||||
Trade accounts payable | $ 76,000 | 76,000 | |||||||||||||||||||||||||||
Navios Partners [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Due to Affiliate, Current | 0 | 5,000,000 | |||||||||||||||||||||||||||
Navios Acquisition [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Due to Affiliate, Current | $ 0 | $ 243,000 | |||||||||||||||||||||||||||
Navios Logistics [Member] | Grimaud [Member] | Promissory Note [Member] | |||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||
Number of repayment installments | 4 | ||||||||||||||||||||||||||||
Long-term Debt, Gross | $ 20,000,000 | ||||||||||||||||||||||||||||
Line of Credit Facility, Frequency of Payments | semi-annual |
Preferred and Common Stock (Det
Preferred and Common Stock (Details Narrative) - USD ($) | 1 Months Ended | 2 Months Ended | 3 Months Ended | 4 Months Ended | 6 Months Ended | 7 Months Ended | 11 Months Ended | 12 Months Ended | |||||||||||
Jan. 19, 2021 | Feb. 01, 2019 | Feb. 21, 2020 | Feb. 29, 2016 | Mar. 21, 2019 | Apr. 18, 2019 | Jul. 13, 2021 | Jul. 10, 2020 | Jul. 15, 2017 | Jul. 30, 2021 | Dec. 15, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 18, 2020 | Dec. 31, 2019 | Dec. 31, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Nov. 30, 2015 | |
Class of Stock [Line Items] | |||||||||||||||||||
Common stock shares outstanding | 25,198,620 | 15,881,147 | |||||||||||||||||
Common Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 | |||||||||||||||||
Shares tendered, nominal value | $ 0 | $ 0 | |||||||||||||||||
Payments for tender offer expenses | $ 0 | $ 0 | $ 10,228,000 | ||||||||||||||||
Gain/ (Loss) from stock redemption recognized in Retained Earnings | (18,855,000) | ||||||||||||||||||
Derecognision of non-controlling interest | $ 162,230,000 | ||||||||||||||||||
Preferred Stock, Shares Outstanding | 23,032 | 23,032 | |||||||||||||||||
Navios Logistics [Member] | |||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||
Dividends paid | $ 27,500,000 | $ 6,381,000 | |||||||||||||||||
Common Stock Dividends, Shares | 2,414,263 | ||||||||||||||||||
Dividends paid to noncontrolling shareholders | 9,948,000 | $ 2,308,000 | |||||||||||||||||
Navios Corporation [Member] | |||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||
Common stock shares outstanding | 2,414,263 | 2,414,263 | |||||||||||||||||
Grimaud [Member] | |||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||
Sale of Stock, Number of Shares Issued in Transaction | 9,301,542 | ||||||||||||||||||
Gain/ (Loss) from stock redemption recognized in Retained Earnings | $ 21,000,000 | ||||||||||||||||||
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture | 9,301,542 | ||||||||||||||||||
Payments of Dividends | $ 16,000,000 | ||||||||||||||||||
Line of Credit Facility, Increase (Decrease), Net | $ 20,000,000 | ||||||||||||||||||
Debt Securities | 15,000,000 | ||||||||||||||||||
Derecognision of non-controlling interest | 27,243,000 | ||||||||||||||||||
Paid in capital | 8,757,000 | ||||||||||||||||||
Net proceeds | 44,437,000 | ||||||||||||||||||
Costs from sale of common stock | $ 176,000 | ||||||||||||||||||
Navios Holdings [Member] | Navios Logistics [Member] | |||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||
Dividends paid | $ 17,552,000 | ||||||||||||||||||
Dividends Undeclared [Member] | |||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||
Dividends cancelled | $ 171,000 | ||||||||||||||||||
Convertible Preferred Stock [Member] | |||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||
Conversion of Stock, Shares Converted | 0 | ||||||||||||||||||
Conversion of stock, shares converted | 210 | 3,289 | |||||||||||||||||
Conversion of stock, shares issued | 22,712 | ||||||||||||||||||
Preferred Stock, Liquidation Preference, Value | $ 10,000 | ||||||||||||||||||
Preferred Stock, Redemption Price Per Share | $ 10 | ||||||||||||||||||
Preferred Stock, Dividend Rate, Percentage | 2.00% | ||||||||||||||||||
Common Stock [Member] | |||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||
Common stock shares outstanding | 25,198,620 | 15,881,147 | |||||||||||||||||
Conversion of Stock, Shares Issued | 352,770 | ||||||||||||||||||
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture | 16,000 | 151,515 | 40,000 | 16,000 | |||||||||||||||
Common Stock [Member] | Share Repurchase Program [Member] | |||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||
Share repurchase program, Authorized amount | $ 25,000,000 | ||||||||||||||||||
Acquisition of treasury stock, shares | 114,791 | 94,858 | |||||||||||||||||
Acquisition of treasury stock, value | $ 1,070,000 | $ 818,000 | |||||||||||||||||
Common Stock [Member] | Dividends Undeclared [Member] | |||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||
Conversion of Stock, Shares Issued | 1,712 | 23,870 | |||||||||||||||||
Share Price | $ 6 | ||||||||||||||||||
Series G Preferred Stock [Member] | |||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||
Preferred Stock, Shares Outstanding | 5,350 | 5,350 | |||||||||||||||||
Series G Preferred Stock [Member] | Exchange program for 66 2/3% shares [Member] | |||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||
Dividends cancelled | $ 6,798,000 | ||||||||||||||||||
Number of shares issued for the exchange offer | 8,841 | ||||||||||||||||||
Shares tendered, nominal value | $ 21,271,000 | ||||||||||||||||||
Tender offer expenses | 620,000 | ||||||||||||||||||
Payments for tender offer expenses | 4,423,000 | ||||||||||||||||||
2024 Notes issued | 3,879,000 | ||||||||||||||||||
Gain/ (Loss) from stock redemption recognized in Retained Earnings | $ 12,568,000 | ||||||||||||||||||
Series H Preferred Stock [Member] | |||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||
Preferred Stock, Shares Outstanding | 17,682 | 17,682 | |||||||||||||||||
Series H Preferred Stock [Member] | Exchange program for 66 2/3% shares [Member] | |||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||
Dividends cancelled | $ 7,678,000 | ||||||||||||||||||
Number of shares issued for the exchange offer | 10,930 | ||||||||||||||||||
Shares tendered, nominal value | $ 26,297,000 | ||||||||||||||||||
Tender offer expenses | 997,000 | ||||||||||||||||||
Payments for tender offer expenses | 4,188,000 | ||||||||||||||||||
2024 Notes issued | 4,747,000 | ||||||||||||||||||
Gain/ (Loss) from stock redemption recognized in Retained Earnings | $ 16,365,000 | ||||||||||||||||||
Preferred Stock [Member] | |||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||
Preferred Stock, Shares Outstanding | 23,032 | 23,242 | |||||||||||||||||
Preferred Stock [Member] | Dividends Undeclared [Member] | |||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||
Undeclared preferred dividends | $ 30,348,000 | $ 25,222,000 | |||||||||||||||||
Restricted Stock [Member] | |||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||
Forfeited shares of common stock | 894 | 1,345 | 3,379 | ||||||||||||||||
Before 1-for-10 reverse stock split [Member] | |||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||
Common stock shares outstanding | 128,434,137 | 120,386,472 | |||||||||||||||||
After 1-for-10 reverse stock split [Member] | |||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||
Common stock shares outstanding | 12,843,414 | 12,038,647 | |||||||||||||||||
Issued in 2017 [Member] | Restricted Stock Units (RSUs) [Member] | |||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||
Vested stock units | 825 | 825 | 825 | ||||||||||||||||
Issued in 2016 [Member] | Restricted Stock Units (RSUs) [Member] | |||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||
Vested stock units | 84,336 | 334 | |||||||||||||||||
First Conversion [Member] | Dividends Undeclared [Member] | |||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||
Dividends cancelled | $ 1,471,000 | ||||||||||||||||||
First Conversion [Member] | Common Stock [Member] | Dividends Undeclared [Member] | |||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||
Conversion of Stock, Shares Converted | 1,980 | ||||||||||||||||||
Conversion of Stock, Shares Issued | 14,711 | ||||||||||||||||||
Share Price | $ 75 | ||||||||||||||||||
Second Conversion [Member] | Dividends Undeclared [Member] | |||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||
Dividends cancelled | $ 916,000 | ||||||||||||||||||
Second Conversion [Member] | Common Stock [Member] | Dividends Undeclared [Member] | |||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||
Conversion of Stock, Shares Converted | 1,309 | ||||||||||||||||||
Conversion of Stock, Shares Issued | 9,159 | ||||||||||||||||||
Share Price | $ 41 | ||||||||||||||||||
American Depositary Shares [Member] | Series G and Series H [Member] | |||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||
Percentage of the increase of the preferred dividend rate | 0.25% | ||||||||||||||||||
American Depositary Shares [Member] | Series G Preferred Stock [Member] | |||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||
Preferred Stock, Redemption Price Per Share | $ 25 | ||||||||||||||||||
Sale of Stock, Number of Shares Issued in Transaction | 2,000,000 | ||||||||||||||||||
Preferred Stock, Liquidation Preference Per Share | $ 2,500 | ||||||||||||||||||
Preferred Stock, Dividend Rate, Percentage | 8.75% | ||||||||||||||||||
American Depositary Shares [Member] | Series H Preferred Stock [Member] | |||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||
Preferred Stock, Redemption Price Per Share | $ 25 | ||||||||||||||||||
Sale of Stock, Number of Shares Issued in Transaction | 4,800,000 | ||||||||||||||||||
Preferred Stock, Liquidation Preference Per Share | $ 2,500 | ||||||||||||||||||
Preferred Stock, Dividend Rate, Percentage | 8.625% |
Interest Expense and Finance _3
Interest Expense and Finance Cost (Table) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Interest expense | $ 136,055 | $ 128,696 | $ 125,496 |
Amortization and write-off of deferred financing costs | 8,870 | 7,863 | 8,242 |
Other | 84 | 0 | 237 |
Interest expense and financing cost | 145,009 | 136,559 | 133,479 |
Continuing Operations [Member] | |||
Amortization and write-off of deferred financing costs | $ 8,870 | $ 7,863 | $ 7,746 |
Segment Information (Table) (De
Segment Information (Table) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Segment Reporting Information [Line Items] | |||
Revenue | $ 585,818 | $ 416,718 | $ 482,449 |
Interest expense and financing cost | (145,009) | (136,559) | (133,479) |
Depreciation and amortization | (61,235) | (71,015) | (81,723) |
Equity in net (losses)/earnings of affiliated companies | 69,275 | (1,293) | (9,185) |
Net (loss)/ income attributable to Navios Holdings common stockholders | 116,686 | (192,961) | (192,110) |
Total assets | 1,808,778 | 1,971,325 | |
Goodwill | 160,336 | 160,336 | |
Investment in affiliates | 125,744 | 56,988 | |
Cash and cash equivalents | 53,591 | 94,881 | |
Restricted cash | 84,260 | 16,303 | |
Dry bulk vessels [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenue | 362,343 | 200,794 | 254,178 |
Interest income | 26 | 48 | 9,610 |
Interest expense and financing cost | (80,450) | (88,237) | (92,948) |
Depreciation and amortization | (29,582) | (42,076) | (52,288) |
Equity in net (losses)/earnings of affiliated companies | 69,275 | (1,293) | (9,185) |
Net (loss)/ income attributable to Navios Holdings common stockholders | 140,651 | (192,207) | (209,096) |
Total assets | 1,200,255 | 1,316,936 | 1,511,517 |
Goodwill | 56,240 | 56,240 | 56,240 |
Capital expenditures | (24,950) | (99,068) | (36,628) |
Investment in affiliates | 125,744 | 56,988 | 64,352 |
Cash and cash equivalents | 21,011 | 20,011 | 32,386 |
Restricted cash | 84,260 | 16,303 | 736 |
Long-term debt, net (including current and noncurrent portion) | 844,134 | 1,043,839 | 1,048,318 |
Administrative fee revenue from affiliate companies | 16,991 | ||
Logistics Business [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenue | 223,475 | 215,924 | 228,271 |
Interest income | 230 | 209 | 1,052 |
Interest expense and financing cost | (64,559) | (48,322) | (40,531) |
Depreciation and amortization | (31,653) | (28,939) | (29,435) |
Equity in net (losses)/earnings of affiliated companies | 0 | 0 | 0 |
Net (loss)/ income attributable to Navios Holdings common stockholders | (23,965) | (754) | 16,986 |
Total assets | 608,523 | 654,389 | 631,338 |
Goodwill | 104,096 | 104,096 | 104,096 |
Capital expenditures | (23,848) | (8,441) | (7,943) |
Investment in affiliates | 0 | 0 | 0 |
Cash and cash equivalents | 32,580 | 74,870 | 45,605 |
Restricted cash | 0 | 0 | 0 |
Long-term debt, net (including current and noncurrent portion) | 542,350 | 540,590 | 514,929 |
Administrative fee revenue from affiliate companies | 0 | ||
Total [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenue | 585,818 | 416,718 | 482,449 |
Interest income | 256 | 257 | 10,662 |
Interest expense and financing cost | (145,009) | (136,559) | (133,479) |
Depreciation and amortization | (61,235) | (71,015) | (81,723) |
Equity in net (losses)/earnings of affiliated companies | 69,275 | (1,293) | (9,185) |
Net (loss)/ income attributable to Navios Holdings common stockholders | 116,686 | (192,961) | (192,110) |
Total assets | 1,808,778 | 1,971,325 | 2,142,855 |
Goodwill | 160,336 | 160,336 | 160,336 |
Capital expenditures | (48,798) | (107,509) | (44,571) |
Investment in affiliates | 125,744 | 56,988 | 64,352 |
Cash and cash equivalents | 53,591 | 94,881 | 77,991 |
Restricted cash | 84,260 | 16,303 | 736 |
Long-term debt, net (including current and noncurrent portion) | $ 1,386,484 | $ 1,584,429 | 1,563,247 |
Administrative fee revenue from affiliate companies | $ 16,991 |
Segment Information - Revenue b
Segment Information - Revenue by Geographic Region (Table) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenue by geographic region | $ 585,818 | $ 416,718 | $ 482,449 |
Continuing and discontinued operations [Member] | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenue by geographic region | 585,818 | 416,718 | 482,449 |
North America [Member] | Continuing and discontinued operations [Member] | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenue by geographic region | 0 | 0 | 2,259 |
Australia [Member] | Continuing and discontinued operations [Member] | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenue by geographic region | 11,905 | 2,055 | 0 |
Europe [Member] | Continuing and discontinued operations [Member] | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenue by geographic region | 184,786 | 132,582 | 179,009 |
Asia [Member] | Continuing and discontinued operations [Member] | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenue by geographic region | 155,123 | 63,610 | 67,468 |
South America [Member] | Continuing and discontinued operations [Member] | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenue by geographic region | 234,004 | 218,442 | 232,394 |
Other [Member] | Continuing and discontinued operations [Member] | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenue by geographic region | $ 0 | $ 28 | $ 1,319 |
Segment Information (Details Na
Segment Information (Details Narrative) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Segment Reporting Information [Line Items] | |||
Property, Plant and Equipment, Net | $ 950,002 | $ 1,139,539 | |
Repayments of Advances for Construction | 19,498 | 5,153 | $ 4,504 |
Dry bulk vessels [Member] | |||
Segment Reporting Information [Line Items] | |||
Property, Plant and Equipment, Net | 427,385 | 627,569 | |
Logistics Business [Member] | |||
Segment Reporting Information [Line Items] | |||
Property, Plant and Equipment, Net | 520,036 | $ 509,283 | |
Repayments of Advances for Construction | $ 4,046 |
Earnings_(Loss) per Common Sh_3
Earnings/(Loss) per Common Share - Earnings/(Loss) per share, basic and diluted (Table) (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Numerator: | |||
Net income/(loss) attributable to Navios Holdings common stockholders | $ 116,686 | $ (192,961) | $ (192,110) |
Less: | |||
Undeclared dividend on preferred stock and on unvested restricted shares | (5,127) | (5,144) | (7,178) |
Plus: | |||
Tender Offer — Redemption of preferred stock Series G and H including $16,863 of undeclared preferred dividend cancelled | 0 | 0 | 45,680 |
Gain from eliminated dividend on preferred stock due to conversion | 0 | 166 | 0 |
Income/(loss) attributable to Navios Holdings common stockholders, basic and diluted | $ 111,559 | $ (197,939) | $ (153,608) |
Denominator: | |||
Denominator for basic earnings/ (loss) per share attributable to Navios Holdings common stockholders — weighted average shares | 16,168,329 | 12,896,568 | 12,356,024 |
Basic earnings/ (loss) per share attributable to Navios Holdings commonstockholders | $ 6.90 | $ (15.35) | $ (12.43) |
Denominator for diluted earnings/ (loss) per share attributable to Navios Holdings common stockholders — weighted average shares | 16,553,011 | 12,896,568 | 12,356,024 |
Diluted earnings/ (loss) per share attributable to Navios Holdings common stockholders | $ 6.74 | $ (15.35) | $ (12.43) |
Earnings_(Loss) per Common Sh_4
Earnings/(Loss) per Common Share (Details Narrative) - shares | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Reverse Stock Split [Member] | ||||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ||||
Stockholders' Equity, Reverse Stock Split | one-for-ten reverse stock split | |||
Convertible Preferred Stock [Member] | ||||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ||||
Shares with anti-dilutive effect, not included in calculation of earnings per share | 0 | 1,549 | 227,496 | |
Common Stock [Member] | ||||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ||||
Shares with anti-dilutive effect, not included in calculation of earnings per share | 384,682 | 569,998 | 843,097 |
Income Taxes (Details Narrative
Income Taxes (Details Narrative) | 12 Months Ended | |||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Argentina [Member] | ||||||
Effective Income Tax Rate Reconciliation, Percent | 35.00% | |||||
Corporate income tax rate | 25.00% | 35.00% | 30.00% | 30.00% | 30.00% | 35.00% |
Tax rate on revenues | 2.00% | 2.00% | 2.00% | |||
Argentina [Member] | Taxable profit above 50 million pesos or $487 [Member] | ||||||
Effective Income Tax Rate Reconciliation, Percent | 35.00% | |||||
Argentina [Member] | Taxable profit between 5 million pesos or $49 and 50 million pesos or $487 [Member] | ||||||
Effective Income Tax Rate Reconciliation, Percent | 30.00% | |||||
Argentina [Member] | Taxable profit below 5 million pesos or $499 [Member] | ||||||
Effective Income Tax Rate Reconciliation, Percent | 25.00% | |||||
Argentina [Member] | If carried between Paraguay and Argentina, Bolivia, Brazil or Uruguay [Member] | ||||||
Amount concentration percentage | 50.00% | |||||
Argentina [Member] | Destination to Paraguay [Member] | ||||||
Amount concentration percentage | 30.00% | |||||
Paraguay [Member] | ||||||
Effective Income Tax Rate Reconciliation, Percent | 10.00% | |||||
Corporate income tax rate | 10.00% | |||||
Tax rate on revenues | 1.00% | |||||
Options to determine income tax liabilities | Under the first option income tax liabilities for the current and prior periods are measured at the amount expected to be paid to the taxation authorities, by applying the tax rate of 10% on the fiscal profit and loss. The 100% of revenues derived from freights carried between other countries with destination Paraguay are considered Paraguayan sourced, and therefore taxed. The tax reform also states that any fiscal losses generated as of the fiscal year starting January 1, 2020, will be carried forward for up to five years, with the possibility to deduct each year the 20% from future fiscal years taxable income. Companies whose operations are considered international freights can alternatively choose to pay income taxes on their revenues at an effective tax rate of 3% of such revenues, without considering any other kind of adjustments. Once the methodology is chosen, the Paraguayan companies have to keep it for at least five years. | |||||
Brazil [Member] | ||||||
Corporate income tax rate | 34.00% | |||||
Uruguay [Member] | ||||||
Corporate income tax rate | 25.00% |
Other Expense (Details Narrativ
Other Expense (Details Narrative) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Other Expense [Member] | Navios Logistics [Member] | |||
Other (expense)/income - taxes other than income taxes | $ 5,442 | $ 5,762 | $ 7,745 |
Subsequent Events (Details Narr
Subsequent Events (Details Narrative) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2022 | Mar. 25, 2022 | Mar. 23, 2022 | |
BBVA Loan [Member] | |||
Line of Credit Facility [Line Items] | |||
Long-term Debt, Description | The Navios Logistics 2022 BBVA Facility was used to repay existing debt under the Navios Logistics BBVA Facility, and for general corporate purposes. | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 25,000 | ||
Interest rate | 4.25% | ||
Line of Credit Facility, Frequency of Payments | quarterly | ||
Maturity date | July 1, 2025 | ||
Description of collateral | is secured by assignments of certain receivables | ||
Debt Instrument, Face Amount | $ 17,000 | ||
Santander Facility I [Member] | |||
Line of Credit Facility [Line Items] | |||
Long-term Debt, Description | The Navios Logistics Santander Facility will be used for general corporate purposes | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 5,000 | ||
Interest rate | 4.20% | ||
Line of Credit Facility, Frequency of Payments | quarterly | ||
Maturity date | March 7, 2026 | ||
Description of collateral | is secured by assignments of certain receivables. | ||
Debt Instrument, Face Amount | $ 5,000 | ||
Senior Secured 2022 Notes [Member] | |||
Line of Credit Facility [Line Items] | |||
Debt Instrument, Repurchased Face Amount | $ 25,000 | ||
One Dry Bulk Vessel [Member] | Sale and leaseback agreement [Member] | |||
Line of Credit Facility [Line Items] | |||
Long-term Debt, Description | to finance a vessel, which was drawn in the first quarter of 2022. | ||
Finance lease, liability | $ 12,000 | ||
HCOB [Member] | One Dry Bulk Vessel [Member] | |||
Line of Credit Facility [Line Items] | |||
Repayments of Debt | $ 10,380 | ||
Long-term Debt, Description | to release a dry bulk vessel |