NMCI - The New Navios Partners - My Favorite Play For The Supercycle

• Navios Partners' acquisition of Navios Containers is looking all but certain which will give the new Navios the scale and contracted cash flows to be revalued many multiples higher.
• Dry bulk has had the best start to a year in a decade with capesize rates approaching decade highs in what is typically the slowest season.
• Container ship leasing rates have moved up every single week since mid-June and just inflected higher again.
• With the outlook continuing to improve each week faster than Wall Street can keep up, the new NMM still trades at just 1.4x 2021 earnings and will still be ridiculously cheap when it doubles from here.

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