CMA names Angeliki Frangou as its next Commodore

The Connecticut Maritime Association (CMA) has named Angeliki Frangou, Chairman & CEO of the Navios group of companies, as its Commodore for the year 2011.

Ms. Frangou follows a long succession of influential maritime industry leaders as Commodore.

The award is given each year to a person in the international maritime industry who has contributed to the growth and development of the industry. It will be presented to Ms. Frangou on March 23, 2011 at the Gala Dinner marking the conclusion of the annual CMA conference and trade exposition.

Ms. Frangou has been Navios Maritime Holdings (NYSE: NM) Chairman of the Board and Chief Executive Officer since inception in 2005. She is also the Chairman and Chief Executive Officer of Navios Maritime Partners, L.P. (NYSE: NMM) and Navios Maritime Acquisition Corporation (NYSE: NNA).

Previously, Ms. Frangou was Chairman, Chief Executive Officer and President of International Shipping Enterprises Inc., which acquired Navios Holdings. From 1990 through August 2005, Ms. Frangou was the Chief Executive Officer of Maritime Enterprises Management S.A., and its predecessor company, which specialized in the management of dry cargo vessels. Ms. Frangou is the Chairman of IRF European Finance Investments Ltd., listed on the SFM of the London Stock Exchange.

Ms. Frangou is the Vice Chairman of the Mediterranean Committee of the China Classification Society and member of the Hellenic and Black Sea Committee of Bureau Veritas, as well as a member of the Greek Committee of Nippon Kaiji Kyokai.

Ms. Frangou received a bachelor’s degree in mechanical engineering from Fairleigh Dickinson University (summa cum laude) and a master’s degree in mechanical engineering from Columbia University.

Beth Wilson-Jordan, President of the CMA, upon making the announcement, stated “Ms. Frangou has consistently demonstrated superior business judgment and integrity which has allowed her to grow an international group of companies and provide consistent value to her stakeholders. Ms. Frangou joins an elite community of leaders who have been honored in the past as Commodores. Ms. Frangou’s vision is demonstrated perhaps most conclusively in 2004, when she adopted a little known vehicle, called a SPAC, to raise significant funds from the public markets. Subsequently, she acquired Navios and has since built Navios into a leading company in the shipping industry. The group now controls 95 vessels (73 bulkers and 22 tankers) and a growing logistics company in South America. We are delighted to have her join the distinguished community of Commodores.”

Former CMA Commodores include: Ole Skaarup, Jacob Stolt-Nielsen, George Livanos, Phil Loree, Thomas Moran, Gregory Hadjieleftheriadis, Helmut Sohmen, Gerhard Kurz, William O’Neil, Richard du Moulin, Per Heidenreich, Mark Saverys, Frank Tsao, Stelios Haji-Ioannou, Peter Georgiopoulos, C. Sean Day, Torben Jensen, Morten Arntzen, John Fredriksen, Capt. Wei Jiafu and Philippe Louis-Dreyfus.