• Revenue:
  • $268.1 million for Q4 2021
  • $713.2 million for the year ended 2021

• Net cash from operating activities:
  • $129.0 million for Q4 2021
  • $277.2 million for the year ended 2021

• Net Income:
  • $117.5 million for Q4 2021
  • $516.2 million for the year ended 2021

• Adjusted EBITDA:
  • $156.6 million for Q4 2021
  • $426.5 million for the year ended 2021

• Fleet Update
  • ~$1.0 billion investment in 18 newbuilding vessels delivering through 2024
    • Acquisition of four 5,300 TEU newbuilding containerships in Q4 2021
  • Sale of two 16-year old containerships for $220.0 million
• ~$670 million contracted revenue from long-term time charters for 11 containerships concluded since Q4 2021

 Navios Maritime Partners , an international owner and operator of dry cargo and tanker vessels, today reported its financial results for the fourth quarter and year ended December 31, 2021.

Angeliki Frangou, Chairman and Chief Executive Officer of Navios Partners stated, “I am pleased with the outstanding results for the fourth quarter and full year of 2021. During the fourth quarter of 2021, Navios Partners recorded revenue of $268.1 million, Adjusted EBITDA of $156.6 million and Adjusted Net Income of $121.8 million. For the full year of 2021, Navios Partners recorded revenue of $713.2 million, Adjusted EBITDA of $426.5 million, and Adjusted Net Income of $364.1 million.”

Angeliki Frangou continued, “In 2021, we reimagined the public shipping company. Today, Navios Partners is one of the leading U.S. publicly-listed shipping companies diversified across 15 vessel types in three segments, servicing more than 10 end markets. Each segment works independently to mitigate volatility from the other. While we do not expect this to work perfectly, we believe the diversity will sufficiently reduce volatility and create flexibility in our operational and financial decision-making process as we charter, purchase and sell vessels and finance our activities.”

Fleet Update

• Acquisition of four 5,300 TEU Newbuilding Containerships in Q4 2021

In November 2021, Navios Partners agreed to purchase four 5,300 TEU newbuilding containerships (two plus two optional) for a purchase price of $62.8 million each. The vessels are expected to be delivered into Navios Partners’ fleet during 2024. The closing of the transaction of the two optional containerships is subject to completion of customary documentation.

Following the acquisition of the four vessels, Navios Partners has an approximately $1.0 billion investment in 18 newbuilding vessels delivering through 2024.

• Sale of two 16-year old Containerships

In February 2022, Navios Partners agreed to sell the Navios Utmost and the Navios Unite, two 2006-built Containerships of 8,204 TEU each, to an unrelated third party for an aggregate sales price of $220.0 million. The sale is expected to be completed during the second half of 2022.

Following the above transactions, Navios Partners will own and operate a fleet comprised of 54 dry bulk vessels, 47 containerships and 45 tanker vessels.

Secured Long-term Time Charters for 11 Containerships

Navios Partners has secured new long-term time charters for 11 containerships which are expected to generate approximately $670 million contracted revenue.

• Four 5,300 TEU newbuilding containerships, expected to be delivered in 2024, have been chartered-out for an average period of 64 months, at an average net rate of $37,282 per day.
• Three 4,250 TEU containerships have been chartered-out for an average period of approximately 36 months, at an average net rate of $50,181 per day (2.7x the current average contracted net rate of $18,541).
• Two 3,450 TEU containerships have been chartered-out for an average period of approximately 45 months, at an average net rate of $44,250 per day (3.2x the current average contracted net rate of $13,643).
• Two 2,750 TEU containership have been chartered-out for an average period of approximately 37 months, at an average net rate of $41,805 per day (2.5x the current average contracted net rate of $16,788).