Navios Maritime Partners L.P. reported full-year 2024 revenues of $1.33 billion, a 2.1% increase compared to 2023, with net income reaching $367.3 million and earnings per common unit at $11.98. For the fourth quarter of 2024, revenues were $332.5 million, a 1.6% increase year-over-year, while net income stood at $94.7 million, resulting in $3.11 earnings per common unit. Adjusted EBITDA for the full year was $731.6 million, a decrease of $16.0 million, primarily due to a $54.5 million decrease in other income in Q4 2024 related to a prepayment of hire received in Q4 2023.
The company continued its capital allocation strategy, repurchasing 585,420 common units for $29.2 million as of February 7, 2025, under its previously announced program. Navios Partners also engaged in significant financing activities, including a $16.0 million sale and leaseback agreement in November 2024 for a capesize vessel, and two new credit facilities in December 2024 totaling $120.0 million for refinancing existing vessel indebtedness. Additionally, an export credit agency-backed facility of up to $148.4 million was agreed upon in Q1 2025 to finance two newbuilding containerships.
As of February 7, 2025, Navios Partners' fleet comprised 70 dry bulk vessels, 50 containerships, and 56 tankers, including newbuildings, excluding one panamax agreed to be sold. The company has fixed 62.7% of its available days for 2025 and 42.2% for 2026, with expected contracted revenues of $926.6 million and $707.7 million, respectively. The average expected daily charter-out rate for the fleet is $26,198 for 2025 and $28,392 for 2026, reflecting ongoing efforts to optimize fleet employment.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.