Exhibit 8.1

List of Subsidiaries Navios Maritime Holdings Inc.

Subsidiaries included in the consolidation:

All subsidiaries included in the consolidated financial statements are 100% owned, except for Navios Logistics and its subsidiaries which is 63.8% owned.

Affiliates 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 affiliates and are accounted for under the equity method for such periods: (i) Navios Partners and its subsidiaries (ownership interest as of December 31, 2019 was 18.5%); (ii) Navios Acquisition and its subsidiaries (economic interest as of December 31, 2019 was 31.0%); (iii) Navios Europe I and its subsidiaries (economic interest through liquidation in December 2019 was 47.5%); (iv) Navios Europe II and its subsidiaries (economic interest as of December 31, 2019 was 47.5%); and (v) Navios Containers and its subsidiaries (economic interest as of November 30, 2018, date of obtaining control, and from August 30, 2019, date of loss of control and as of December 31, 2019 was 3.7%).