Navios Maritime Partners L.P. Files 6-K Update

TL;DR

NMM files 6-K with financial review, check it for Q1 performance.

AI Summary

Navios Maritime Partners L.P. filed a Form 6-K on May 22, 2024, to incorporate by reference its Operating and Financial Review and Prospects into its Form F-3 Registration Statement (File No. 333-271842). This filing provides an update on the company's financial condition and operational results for the three-month period.

Why It Matters

This filing provides crucial financial and operational insights for investors to assess the company's performance and make informed investment decisions.

Risk Assessment

Risk Level: low — This is a routine filing providing financial updates and does not introduce new risks.

Key Players & Entities

• Navios Maritime Partners L.P. (company) — Filer of the report
• May 22, 2024 (date) — Date of the filing
• 333-271842 (document_id) — Form F-3 Registration Statement file number

FAQ

Key Financial Figures

• $65.8 million — s, for aggregate gross sale proceeds of $65.8 million. In connection with its cybersecurity
• $1,286 — 12,128 No 100.0% average BPI 82 less $1,286 Jun-24 Sep-24 Navios Taurus Panam
• $1,905 — 22,765 No 100.0% average BCI 5TC + $1,905 per day Dec-24 Aug-26 Navios Fanta
• $4,085 — 8,500 (26) 100.0% average BCI 5TC + $4,085 per day No Jun-24 May-27 Navios C
• $26,730 — er based on adjusted TD3C-WS with floor $26,730 and collar at $36,630. (5) The vesse
• $36,630 — D3C-WS with floor $26,730 and collar at $36,630. (5) The vessel is subject to a sale
• $24,900 — ption to extend charter for one year at $24,900 net per day. (8) The premium for whe
• $1,481 — trading on ice or follow ice breaker is $1,481 per day. (9) Charterers option to ext
• $29,738 — n to extend the charter for one year at $29,738 net per day plus one year at $31,200 ne
• $31,200 — at $29,738 net per day plus one year at $31,200 net per day. (10) Charterers option
• $27,913 — n to extend the charter for one year at $27,913 net per day. (11) Charterers option
• $16,540 — n to extend the charter for one year at $16,540 net per day plus one year at $17,528 ne
• $17,528 — at $16,540 net per day plus one year at $17,528 net per day. (12) Rate based on pool
• $40,950 — n to extend the charter for one year at $40,950 net per day. (14) The vessel is subj
• $54,388 — Profit sharing arrangement of 35% above $54,388, 40% above $59,388 and 50% above $69,38

Filing Documents

• d820922d6k.htm (6-K) — 781KB
• d820922dex991.htm (EX-99.1) — 9KB
• 0001193125-24-144996.txt ( ) — 792KB

From the Filing

6-K Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934 DATED: May 22, 2024 Commission File No. 001-33811 NAVIOS MARITIME PARTNERS L.P. 7 Avenue de Grande Bretagne, Office 11B2 Monte Carlo, MC 98000 Monaco (Address of Principal Executive Offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-FForm 40-F Table of Contents NAVIOS MARITIME PARTNERS L.P. FORM 6-K TABLE OF CONTENTS Page Operating and Financial Review and Prospects 1 Exhibit List 19 INDEX F-1 This report on Form 6-K is hereby incorporated by reference into the Navios Maritime Partners L.P. Registration Statement on Form F-3, File No. 333-271842. Operating and Financial Review and Prospects The following is a discussion of the financial condition and results of operations for the three month periods ended March 31, 2024 and 2023 of Navios Maritime Partners L.P. (referred to herein as we, us, Company or Navios Partners). All of the financial statements have been stated in accordance with generally accepted accounting principles in the United States of America (U.S. GAAP). You should read this section together with the consolidated financial statements and the accompanying notes included in Navios Partners 2023 annual report filed on Form 20-F on April 3, 2024 (the Annual Report) with the U.S. Securities and Exchange Commission (the SEC). This report contains and will contain forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events, TCE rates (as defined herein), and Navios Partners expected cash flow generation, future contracted revenues, future distributions and its ability to make distributions going forward, opportunities to reinvest cash accretively in a fleet renewal program or otherwise, potential capital gains, its ability to take advantage of dislocation in the market and Navios Partners growth strategy and measures to implement such strategy, including expected vessel acquisitions and entering into further time charters and Navios Partners ability to refinance its debt on attractive terms, or at all. Words such as may, expects, intends, plans, believes, anticipates, hopes, estimates, and variations of such words and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on the information available to, and the expectations and assumptions deemed reasonable by Navios Partners at the time these statements were made. Although Navios Partners believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of Navios Partners. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, risks relating to: global and regional economic and political conditions including global economic activity, demand for seaborne transportation of the products we ship, the ability and willingness of charterers to fulfill their obligations to us and prevailing charter rates, the economic condition of the markets in which we operate, shipyards performing scrubber installations, construction of newbuilding vessels, drydocking and repairs, changing vessel crews and availability of financing, potential disruption of shipping routes due to accidents, wars, sanctions, diseases, pandemics, political events, piracy or acts by terrorists; uncertainty relating to global trade, including prices of seaborne commodities and continuing issues related to seaborne volume and ton miles, our continued ability to enter into long-term time charters, our ability to maximize the use of our vessels, expected demand in the dry and liquid cargo shipping sectors in general and the demand for our dry bulk, containerships and tanker vessels in particular, fluctuations in charter rates for dry bulk, containerships and tanker vessels, the aging of our fleet and resultant increases in operations costs, the loss of any customer or charter or vessel, the financial condition of our customers, changes in the availability and costs of funding due to conditions in the bank market, capital markets and other factors, fluctuation in interest rates and foreign exchange rates, increases in costs and expenses, including but not limited to: crew, insurance, provisions, port expenses,