Navios Maritime Partners L.P. Stock

Navios Maritime Partners L.P. is an international owner and operator of dry cargo and tanker vessels. Olympos Maritime Ltd. serves as the general partner of the company.

The company engages in the seaborne transportation services of a wide range of liquid and dry cargo commodities, including iron ore, oil, coal, grain and fertilizer; and also containers, chartering its vessels generally under medium to long-term charters. The operations of Navios Partners are managed by the Managers from their offices in Greece, Singapore and Monaco.

The company’s vessels are generally chartered-out under short-term, medium and long-term time charters with an average remaining charter duration of approximately 1.9 years to a strong group of counterparties, including ZIM Integrated Shipping Services Ltd. (ZIM), HMM, Chevron Transport Corporation Ltd. (Chevron), Feedertech PTE Ltd. (Feedertech), COSCO Shipping Group, VS Tankers FZE/AMPTC, Saudi Aramco, Nippon Yusen Kabushiki Kaisha (NYK Line) and Kawasaki Kisen Kaisha Ltd. (K Line).

Fleet

Navios Partners’ fleet consists of 82 drybulk vessels, 47 containerships and 46 tanker vessels, including three newbuilding Capesize chartered-in vessels under bareboat contracts expected to be delivered in the first half of 2023, six newbuilding Aframax/LR2 vessels expected to be delivered in 2024 and the first half of 2025, two newbuilding MR2 Product Tanker chartered-in vessels under bareboat contracts expected to be delivered in the second half of 2025 and the first half of 2026 and 12 newbuilding Containerships expected to be delivered by the second half of 2023 and in 2024. The fleet excludes one Ultra-Handymax, one Panamax and one LR1 Product Tanker vessels agreed to be sold.

The company generates revenues by charging its customers for the use of its vessels to transport their dry cargo commodities, containers, crude oil and/or refined petroleum products. In general, the vessels in the company’s fleet are chartered-out under time charters.

Business Strategies

The key elements of the company’s strategy are to strategically manage sector exposure; continue to grow and diversify its fleet of owned and chartered-in vessels; provide superior customer service by maintaining high standards of performance, reliability and safety; capitalize on its relationship with Navios Maritime Holdings Inc. and the Managers (Navios Holdings and the company’s managers, namely Navios Shipmanagement Inc. (the ‘Manager’), and Navios Tankers Management Inc. (‘Tankers Manager’ and together with the Manager, the ‘Managers’)); and benefit from its Managers’ risk management practices and corporate managerial support.

Customers

The company provides or will provide seaborne shipping services under long-term time charters with customers that are creditworthy.

Regulation

The governmental regulation to which the company is subject includes local and national laws and regulations, as well as international regulations established by the International Maritime Organization (IMO), the United Nations agency governing the maritime sector. The company is also subject to regulation by ship classification societies and industry associations, which often have independent standards.

Under MARPOL (International Convention for the Prevention of Pollution from Ships) Annex I, the company’s ships are required to have an International Oil Pollution Prevention (IOPP) Certificate and a Shipboard Oil Pollution Emergency Plan; under Annex IV, an International Sewage Pollution Prevention Certificate; under Annex V, a Garbage Management Plan; and under Annex VI, an International Air Pollution Prevention Certificate issued by their flag States, among other requirements, some of which must be approved by their flag States.

The company’s vessels also must operate in compliance with the requirements in the International Convention for the Safety of Life at Sea, as amended (SOLAS), including the International Safety Management Code (the ‘ISM Code’), which is contained in Chapter IX of SOLAS. The ISM Code also requires vessel operators to obtain a Document of Compliance (DOC) demonstrating that the company complies with the SMS (Safety Management System) and a Safety Management Certificate (SMC) for each vessel verifying compliance with the approved SMS by each vessel's flag State.

The company’s vessels are subject to the Federal Clean Air Act vapor control and recovery standards (VCS) for cleaning fuel tanks and conducting other operations in regulated port areas. The company’s vessels operating in regulated port areas have installed VCSs that are compliant with the U.S. Environmental Protection Agency, state and the U.S. Coast Guard requirements.

History

Navios Maritime Partners L.P. was founded in 2007.