- Navios Maritime Partners ( NYSE: NMM ) reported a 38.3% growth in its Q 4 time charter and voyage revenues led by increase in the size of our fleet and to the increase in Time Charter Equivalent rate (+3.6%).
- Adj. EBITDA increased by $44M to $200.6M mainly led by a $102.8M increase in time charter and voyage revenues; Adj. net income decreased by $9.1M to $112.7M.
- Three newbuilding Capesize chartered-in vessels under bareboat contracts are expected to be delivered in 1H23, six newbuilding Aframax/LR2 vessels expected to be delivered in 2024 and the 1H25, two newbuilding MR2 Product Tanker chartered-in vessels under bareboat contracts expected to be delivered in 2H25 and 1H26 and 12 newbuilding Containerships expected to be delivered by the second half of 2023 and in 2024.
- The company has currently fixed 52.2% and 35.0% of its available days for 2023 and for 2024, respectively; expects to generate contracted revenue of ~$831.9M and $644.5M for 2023 and for 2024, respectively.
- In February 2023, the company completed a $32M sale and leaseback transaction with an unrelated third party for financing one drybulk vessel.
- Net cash from operating activities stood at $506.3M for year ended 2022; the company sees ~$3.4B in contracted revenue through 2036.
- The board declared and paid a cash distribution for Q4 of $0.05/unit.
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Navios Maritime Partners trades in red pressurized by Q4 falling net income