Navios Maritime Partners Reports Q1 Results

Press Release
Thursday, April 21, 2011

* Cash Distribution of $0.43 per unit for the first quarter ended March 31, 2011
* 45.6% increase in quarterly Revenues to $42.8 million
* 56.8% increase in quarterly Operating Surplus to $26.5 million
* 52.1% increase in quarterly EBITDA to $32.4 million

PIRAEUS, GREECE, April 20, 2011 - Navios Maritime Partners L.P. ("Navios Partners") (NYSE: NMM), an owner and operator of dry cargo vessels, today reported its financial results for the first quarter ended March 31, 2011.

Ms. Angeliki Frangou, Chairman and Chief Executive Officer of Navios Partners, stated: "We are pleased to announce a cash distribution of $0.43 per unit. We are also pleased with our recent successful equity offering. The net proceeds will allow us to acquire additional vessels. Through these acquisitions, our objective is to continue to increase our distributions while reducing our leverage. We are mindful that shipping can be cyclical and we work to eliminate the impact of cyclicality on our distributions."

 

Source: Navios Maritime Partners

Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

JV Wins $2bln Freeport LNG Contract in US

A joint venture (JV) between CB&I, Chiyoda International and Zachry Industrial has won a contract worth over $2bn from FLNG Liquefaction 3 for a liquefied natural

Puerto Rico Readies for Largest Cruise Ships

Thanks to a pier expansion and enhancement, Puerto Rico will welcome the two largest cruise ships in the world, Royal Caribbean International’s Oasis of the Seas and Allure of the Seas, in 2016.

Carnival Sails to Profit

The world's largest cruise company Miami-based Carnival Corp reported a net profit of $49 million, or 6 cents per share in the first quarter ended Feb. 28.   That

 
 
Maritime Careers / Shipboard Positions Naval Architecture Pipelines Port Authority Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1466 sec (7 req/sec)