Marine Link
Saturday, September 22, 2018

Navios Maritime Posts 2Q Profit

Maritime Activity Reports, Inc.

July 29, 2016

Photo: Navios Maritime Midstream Partners

Photo: Navios Maritime Midstream Partners

 Navios Maritime Midstream Partners LP (NAP) has reported second-quarter earnings of $5.9 million.

 
It says revenue for three month period ended June 30, 2016 increased by $4.3 million to $22.7 million.
 
The company said it had net income of 28 cents per share. The operator of contracted crude oil tankers posted revenue of $22.7 million in the period.
 
Angeliki Frangou, Chairman and Chief Executive Officer of Navios Midstream stated, “We are pleased to report $16.4 million of EBITDA and $5.9 million of net income for the second quarter of 2016, representing increases of 17.5% and 9.2%, respectively, over the prior comparable period. We recently announced a distribution of $0.4225 per unit, representing an annual distribution of $1.69 per unit and a current yield of approximately 13%. Our total unit coverage was 1.14x for the quarter.”
 
The company has currently contracted out 100% of its available days for 2016 and 2017 and 99.4% days for 2018.
 
Average expected daily charter-out rate for fleet is $42,707, $39,559 and $39,587 for 2016, 2017, 2018, respectively
 
Maritime Reporter Magazine Cover Sep 2018 - Maritime Port & Ship Security

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News