Angeliki Frangou, Chairwoman and Chief Executive Officer of Navios Partners stated, “I am pleased with the results for the first quarter of 2022. During the first quarter of 2022, Navios Partners recorded revenue of $236.6 million, EBITDA of $126.1 million and net income of $85.7 million, or $2.78 earnings per common unit.”
Angeliki Frangou continued, “We stand at the crossroads of a war in Ukraine, rising interest rates and a zero-Covid policy in China. There is no crystal ball to understand how this will evolve. In the meantime, governments and companies are quick to act to satisfy their short term needs as they consider long-term policies in light of these uncertainties.”
Angeliki Frangou also stated, “We believe our diversified structure offers the opportunity for continuous accretive growth. As previously announced, this quarter we agreed to acquire four Aframax / LR2 tankers on the back of charter commitments from an investment grade counterparty. These vessels are designed with the latest technology and can carry either crude or products. Through this transaction, we entered a new sub-segment with reduced risk and excellent long-term prospects.”
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Revenue:
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$236.6 million for Q1 2022
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Net Income:
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$85.7 million for Q1 2022
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Net cash from operating activities:
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EBITDA:
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$126.1 million for Q1 2022
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Fleet Update
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~ $1.3 billion investment in 22 newbuilding vessels through Q1 2025
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~$2.8 billion in contracted revenue through 2031