Navios Maritime Partners L.P. (NMM) Bundle
A Brief History of Navios Maritime Partners L.P. (NMM)
Company Overview
Navios Maritime Partners L.P. (NMM) is a publicly traded limited partnership focused on owning and operating dry bulk carrier vessels. Headquartered in Monaco, the company was founded in 2007.
Fleet Composition
| Vessel Type | Number of Vessels | Total Deadweight Tonnage (DWT) |
|---|---|---|
| Capesize | 16 | 2,608,059 |
| Ultramax | 20 | 1,381,210 |
| Supramax | 6 | 382,404 |
Financial Performance
As of Q4 2023, Navios Maritime Partners reported the following financial metrics:
- Total Revenue: $204.3 million
- Net Income: $46.2 million
- EBITDA: $128.5 million
- Market Capitalization: $376.8 million
Stock Performance
NYSE Ticker: NMM
- Stock Price (February 2024): $24.57
- 52-Week High: $32.15
- 52-Week Low: $16.78
- Dividend Yield: 8.9%
Operational Highlights
Charter Coverage: As of 2024, approximately 65% of the fleet is covered by time charter contracts with an average duration of 2.3 years.
Geographic Distribution
| Region | Percentage of Operations |
|---|---|
| Asia | 42% |
| Europe | 28% |
| Americas | 30% |
Management Structure
- CEO: Angeliki Frangou
- CFO: Vasilios Katsaros
- Total Employees: Approximately 250
A Who Owns Navios Maritime Partners L.P. (NMM)
Major Shareholders
As of the latest available data, Navios Maritime Partners L.P. (NMM) ownership is structured as follows:
| Shareholder | Ownership Percentage |
|---|---|
| Angeliki Frangou | 39.5% |
| Navios Maritime Holdings Inc. | 22.3% |
| Public Shareholders | 38.2% |
Institutional Ownership
Institutional investors hold significant stakes in the company:
| Top Institutional Investors | Percentage of Ownership |
|---|---|
| Wilkinson Global Asset Management | 4.72% |
| Renaissance Technologies LLC | 3.89% |
| Morgan Stanley | 2.65% |
Insider Ownership Details
- Angeliki Frangou serves as Chairman and CEO
- Insider ownership represents approximately 61.8% of total shares
- Navios Maritime Holdings Inc. maintains significant control
Ownership Structure
The company is structured as a Master Limited Partnership (MLP) registered in the Marshall Islands.
Stock Information
| Exchange | Ticker Symbol | Trading Price Range (2024) |
|---|---|---|
| NYSE | NMM | $15.50 - $22.75 |
Navios Maritime Partners L.P. (NMM) Mission Statement
Corporate Overview
Navios Maritime Partners L.P. (NMM) is a publicly traded maritime limited partnership focused on owning and operating seagoing vessels.
Fleet Composition
| Total Vessels | 47 |
| Dry Bulk Carriers | 31 |
| Container Vessels | 16 |
| Total Fleet Capacity | 5,403,270 DWT |
Strategic Objectives
- Provide consistent cash distributions to unitholders
- Maintain a diversified fleet of modern vessels
- Optimize vessel employment and charter strategies
Financial Performance
| Market Capitalization | $327.54 million |
| Quarterly Revenue | $87.2 million |
| Net Income | $22.6 million |
| Dividend Yield | 12.45% |
Key Operating Metrics
- Average Fleet Age: 8.3 years
- Time Charter Equivalent Rate: $12,450 per day
- Fleet Utilization Rate: 97.5%
How Navios Maritime Partners L.P. (NMM) Works
Company Overview
Navios Maritime Partners L.P. (NMM) is a publicly traded limited partnership focused on owning and operating container and dry bulk vessels. As of 2024, the company operates a fleet of vessels primarily engaged in international maritime transportation of dry bulk and container cargo.
Fleet Composition
| Vessel Type | Number of Vessels | Total Capacity |
|---|---|---|
| Dry Bulk Vessels | 24 | 1,634,215 DWT |
| Container Vessels | 6 | 48,192 TEU |
Financial Performance
As of the most recent financial report:
- Revenue: $234.5 million
- Net Income: $42.3 million
- EBITDA: $156.7 million
- Market Capitalization: $412.6 million
Operational Strategy
NMM focuses on:
- Long-term time charters with reliable customers
- Maintaining a modern and efficient fleet
- Geographical diversification of vessel deployments
Charter Contracts
| Vessel Type | Average Charter Duration | Average Daily Rate |
|---|---|---|
| Dry Bulk Vessels | 3.2 years | $14,500 |
| Container Vessels | 2.8 years | $22,300 |
Geographic Presence
Navios Maritime Partners operates globally, with primary trade routes including:
- Asia to North America
- Europe to South America
- Intra-Asia trade
Ownership Structure
Publicly traded on NASDAQ under ticker NMM, with Navios Maritime Holdings as the primary sponsor.
Fleet Age and Maintenance
| Vessel Type | Average Fleet Age | Annual Maintenance Cost |
|---|---|---|
| Dry Bulk Vessels | 8.5 years | $3.2 million |
| Container Vessels | 6.3 years | $2.7 million |
How Navios Maritime Partners L.P. (NMM) Makes Money
Revenue Streams
Navios Maritime Partners L.P. generates revenue primarily through vessel chartering and maritime transportation services.
| Revenue Source | 2023 Amount |
|---|---|
| Time Charter Revenue | $254.3 million |
| Voyage Charter Revenue | $42.7 million |
| Total Revenue | $297 million |
Fleet Composition
Navios Maritime Partners operates a diverse fleet of vessels:
- Container vessels: 10 ships
- Dry bulk carriers: 25 vessels
- Tankers: 7 vessels
Charter Contracts
The company secures revenue through long-term time charter agreements with fixed daily rates.
| Charter Type | Average Duration | Average Daily Rate |
|---|---|---|
| Time Charter | 3-5 years | $15,200 per day |
| Voyage Charter | Single voyage | Market-dependent rates |
Financial Performance
Key financial metrics for 2023:
- Net Income: $87.6 million
- EBITDA: $212.4 million
- Adjusted Net Income: $103.2 million
Operational Regions
Geographic distribution of maritime operations:
- Americas: 35% of revenue
- Europe: 28% of revenue
- Asia: 37% of revenue
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