Navios Maritime Partners L.P. (NMM) was formed in 2007. It’s engaged in seaborne transportation services. It transports a range of dry bulk commodities including iron ore, coal, grain, and fertilizer. Navios Holdings owns a 20% interest in Navios Partners—including a 2% general partner interest. NMM also has a 3.2% holding in the Guggenheim Shipping ETF (SEA).
NMM’s management is strong. Angeliki Frangou is NMM’s chairman and CEO. She has advanced expertise in technical ship management. As a leader in risk management, she supports the company by strategizing and earning higher profits.
Fleet portfolio
Navios Partners operates 32 vessels with total capacity of 3.3 million deadweight tonnage. The vessels have an average age that’s 7.5 years lower than the expected industry average. Its fleet consists of 14 Panamax vessels, eight Capesize vessels, three Ultra-Handymax vessels, and seven container vessels.
Occasionally, the company purchases additional vessels—including vessels from Navios Holdings. All of the vessels are chartered out—for an average remaining charter longer than three years—to highly-rated customers.
Peers
Navios operates in an industry with peers like DryShips Inc. (DRYS), Diana Shipping Inc. (DSX), Safe Bulkers Inc. (SB), and Navios Maritime Holdings Inc. (NM). They have a market cap of $994.5 million, $659.6 million, $459.5 million, and $607.4 million, respectively. NM has a 2.01% holding in the SEA.
In this series, we’ll discuss the company’s third quarter results and its performance in the container and dry bulk segment. We’ll also take a look at the company’s distributions, growth avenues, and operating metrics. The third quarter ended on September 30, 2014. NMM reported the earnings on October 27, 2014.
Source: http://marketrealist.com/