Navios Maritime Partners added more than $606 million in contracted revenue through a series of long-term vessel charters, bringing its total contracted revenue to about $4.4 billion through 2037.
The new agreements cover six tankers, four containerships and two capesize vessels. The six tankers were chartered for an average of 5.5 years at an average rate of $36,422 net per day, while the containerships were chartered for an average of 2.9 years at $30,132 net per day.
The two capesize vessels were chartered for an average of two years at an average rate of $26,309 net per day.
Together, those contracts are expected to produce $606.3 million of revenue, bringing Navios Partners’ overall contracted revenue to $4.4 billion through 2037.
Navios has also committed substantial capital to renewing and expanding its fleet.
The company recently agreed to acquire three newbuilding scrubber-fitted VLCC tankers for $361.5 million. Including four previously announced vessels, Navios’s investment in seven newbuilding VLCCs totals $843.5 million. Those seven vessels have been chartered for an average firm period of 6.1 years at an average rate of $45,224 per day and are expected to generate $700.2 million of contracted revenue.
The company also agreed to acquire a Japanese newbuilding capesize vessel under a 10-year bareboat contract with an implied purchase price of approximately $70.1 million.
Navios generated second-quarter revenue of $410.2 million, up from $327.6 million a year earlier. Net income increased to $167.9 million from $69.9 million, while EBITDA rose to $275.2 million from $178.2 million.
As of August 12, Navios had fixed 77.1% of its available days for the final six months of 2026 and 50.9% for 2027. Contracted revenue for those periods was $591.2 million and $884.8 million, respectively.
The company also authorized a new $200 million common-unit repurchase program.
KEY QUOTES:
“Trade has proven surprisingly resilient, and energy prices, though volatile, have remained relatively subdued.”
Angeliki Frangou, Chairwoman and CEO of Navios Maritime Partners
