Angeliki Frangou, the Chairwoman of Navios Maritime Partners unveils the company´s financial results

Credit: Navios Maritime Partners

The New York-listed shipowner Navios Maritime Partners, an international owner and operator of dry cargo and tanker vessels, reported its financial results for the third quarter and nine month period ended the September 30rd 2022.

As the company reveals, during the third quarter of 2022 Navios recorded $322.4 million of revenue, $257.2 million of net income, net income per unit of $8.36.

Furthermore, Navios Partners revealed a series of sale and acquisition deals and new long-term charters.

The shipowner disclosed on Thursday acquiring two additional 115,000 dwt Aframax/LR2 newbuilding vessels, for a purchase price of $60.5 million each, after the acquisition of four 115,000 dwt Aframax/LR2 newbuilding vessels in April 2022.

The US-listed owner agreed in September, to acquire one newbuilding Capesize vessel, and one 2016-built Kamsarmax vessel of 84,852 deadweight, for an aggregate implied purchase price of $91.3 million from an unrelated third party. At the same period, the company also completed the sale of two 16-year old containerships for $220.0 million.

During the period of September and October, the company unveiled the sale of four drybulk vessels for $52.0 million.

As far as the fixtures is concerned, Navios Partners has entered into new long-term charters, which are expected to generate approximately $331.0 million revenue.

Angeliki Frangou, the Chairwoman and CEO of Navios Maritime Partners, commenting on the results said that, the company´s diversified approach served well their stakeholders, despite the unprecedented macro challenges, including slowing growth in China, the Ukrainian conflict, and a more restrictive financial environment caused by central banks, because of quantitative tightening and inflation.

Source: Navios Partners

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