falseJune 30, 2024Q20001415921--12-312024http://fasb.org/us-gaap/2024#RelatedPartyMemberhttp://fasb.org/us-gaap/2024#RelatedPartyMemberhttp://fasb.org/us-gaap/2024#RelatedPartyMemberhttp://fasb.org/us-gaap/2024#RelatedPartyMember0001415921nmm:ManagementAgreementMembernmm:UponCompletionOfTheMergersMembernmm:ContainershipOfEightThousandUpToNineThousandNineHundredAndNinetyNineFootEquivalentUnitsMember2024-01-012024-06-300001415921nmm:ManagementAgreementMembernmm:UponCompletionOfTheMergersMembernmm:ContainerVesselOfSixThousandEightHundedTwentyFootEquivalentUnitsMember2022-01-012022-12-310001415921nmm:AbnAmroBankNVMember2024-06-300001415921us-gaap:LimitedPartnerMember2023-04-012023-06-300001415921nmm:NaviosAmethystMember2023-06-210001415921nmm:TwoAframaxLr2NewbuildingScrubberFittedVesselsMember2024-06-300001415921us-gaap:GeneralPartnerMember2023-04-012023-06-300001415921nmm:AccumutaledAmortizationMember2024-01-012024-06-300001415921nmm:TwoNewbuildingLiquifiedNaturalGasDualFuelMembernmm:SecondAndThirdInstallmentForTwoVesselsMember2023-12-310001415921us-gaap:GeneralPartnerMembernmm:ThereafterTargetDistributionMember2024-01-012024-06-300001415921nmm:NaviosHoldingsMember2024-04-012024-06-300001415921nmm:ManagementAgreementMembernmm:ContainershipOfThreeThousandUpToFourThousandNineHundredAndNinetyNineFootEquivalentUnitsMembernmm:UponCompletionOfTheMergersMember2023-01-012023-12-310001415921nmm:NaviosVenusMember2024-06-300001415921nmm:NaviosSakuraMember2023-04-272023-04-270001415921nmm:ManagementAgreementMembernmm:UponCompletionOfTheMergersMembernmm:UltraHandymaxVesselsMember2023-01-012023-12-310001415921nmm:ManagementAgreementMembernmm:UponCompletionOfTheMergersMembernmm:ContainershipOfEightThousandUpToNineThousandNineHundredAndNinetyNineFootEquivalentUnitsMember2022-01-012022-12-310001415921nmm:ManagementAgreementMembernmm:UponCompletionOfTheMergersMembernmm:ContainershipOfOneThousandThreeHundredUpToThreeThousandFourHundredFootEquivalentUnitsMember2023-01-012023-12-310001415921nmm:KFWIPEXBANKCreditFacilityMember2022-09-300001415921us-gaap:GeneralPartnerMember2022-12-310001415921nmm:NetBookValueMembernmm:VesselsMember2023-12-310001415921us-gaap:LimitedPartnerMember2024-06-300001415921us-gaap:GeneralPartnerMembernmm:FirstTargetDistributionMember2024-01-012024-06-3000014159212024-06-300001415921nmm:HamburgCommercialBankAG210MCreditFacilityMember2022-11-012022-11-300001415921us-gaap:GeneralPartnerMember2024-04-012024-06-300001415921us-gaap:LimitedPartnerMember2023-04-012023-06-300001415921nmm:NaviosVegaBMembernmm:NSALMember2024-01-012024-06-300001415921nmm:ThirdInstalmentForOtherTwoVesselsAndLastInstallmentForOneVesselMembernmm:FourNewbuildingContainershipsMember2023-12-310001415921nmm:OperatingLeasesMember2024-01-012024-06-300001415921nmm:ManagementAgreementMembernmm:UponCompletionOfTheMergersMembernmm:ContainershipOfOneThousandThreeHundredUpToThreeThousandFourHundredFootEquivalentUnitsMember2022-01-012022-12-310001415921nmm:ZimSeagullMemberus-gaap:SubsequentEventMember2024-08-012024-08-310001415921nmm:NaviosVegaBMembernmm:NSALMember2024-04-012024-06-300001415921nmm:FourAframaxLR2NewbuildingVesselsBMember2023-09-300001415921nmm:CommonUnitRepurchaseProgramMemberus-gaap:LimitedPartnerMember2024-01-012024-06-300001415921nmm:DNBBANKASACreditFacilityMember2021-12-132021-12-1300014159212024-04-012024-06-300001415921nmm:NordeaBankAbpMember2024-06-300001415921nmm:FirstTrancheMembernmm:DNBUKLimitedExportImportBankOfChinaCreditFacilityMember2024-01-012024-06-300001415921nmm:BNPParibasMember2024-06-300001415921nmm:FourVesselsSoldMember2024-01-012024-06-3000014159212023-12-310001415921nmm:ZimEagleMember2021-07-022021-07-020001415921nmm:NaviosAmethystMember2023-06-212023-06-210001415921us-gaap:LimitedPartnerMember2022-12-310001415921nmm:ZimCondorMember2024-04-082024-04-080001415921nmm:CostMembernmm:OwnedVesselsMember2023-12-310001415921us-gaap:SubsequentEventMembernmm:HamburgCommercialBankAG210MCreditFacilityMember2024-08-012024-08-310001415921nmm:ManagementAgreementMembernmm:UponCompletionOfTheMergersMembernmm:ContainershipOfEightThousandUpToNineThousandNineHundredAndNinetyNineFootEquivalentUnitsMember2023-01-012023-12-310001415921nmm:AccumulatedDepreciationMember2024-06-300001415921nmm:OwnedVesselsMembernmm:AccumulatedDepreciationMember2024-01-012024-06-300001415921nmm:FourAframaxLR2NewbuildingVesselsBMember2023-07-012023-09-3000014159212023-03-310001415921nmm:CostMember2024-06-300001415921nmm:VesselsMember2024-01-012024-06-300001415921nmm:FourAframaxLr2NewbuildingScrubberFittedVesselsMembernmm:FirstTwoVesselsMember2024-06-300001415921nmm:PanamaxVesselsMembernmm:ManagementAgreementMembernmm:UponCompletionOfTheMergersMember2023-01-012023-12-310001415921nmm:ManagementAgreementMembernmm:UponCompletionOfTheMergersMembernmm:ContainershipOfOneThousandThreeHundredUpToThreeThousandFourHundredFootEquivalentUnitsMember2024-01-012024-06-300001415921nmm:CostMembernmm:VesselsMember2023-12-310001415921nmm:ZimHawkMember2024-06-032024-06-030001415921nmm:FinancialLiabilitiesMembernmm:NaviosAzimuthMember2024-01-012024-06-300001415921nmm:NaviosVegaBMembernmm:AmountsDueFromRelatedPartiesMembernmm:NSALMember2024-06-300001415921nmm:MinimumQuarterlyDistributionMemberus-gaap:GeneralPartnerMember2024-01-012024-06-300001415921nmm:ManagementAgreementMembernmm:UponCompletionOfTheMergersMembernmm:ContainershipOfTenThousandUpToElevenThousandNineHundredAndNinetyNineFootEquivalentUnitsMember2024-01-012024-06-300001415921nmm:KFWIPEXBANKCreditFacilityMember2024-01-012024-06-300001415921nmm:DNBUKLimitedExportImportBankOfChinaCreditFacilityMember2023-02-160001415921us-gaap:GeneralPartnerMembernmm:ThirdTargetDistributionMember2024-01-012024-06-300001415921nmm:SecondInstallmentForOtherTwoVesselsThirdInstallmentForTwoVesselsAndFourthInstallmentForTwoVesselsMembernmm:FourNewbuildingContainershipsIMember2023-12-310001415921nmm:BareboatCharterInContractMembernmm:NaveElectronMember2024-06-300001415921nmm:NetBookValueMember2024-01-012024-06-300001415921nmm:NaviosHoldingsMember2023-04-012023-06-300001415921nmm:FourVesselsSoldMember2024-06-300001415921nmm:RenewedManagementAgreementMemberus-gaap:SubsequentEventMember2024-08-012024-08-300001415921nmm:MinimumQuarterlyDistributionMembernmm:TotalQuarterlyDistributionTargetAmountMember2024-01-012024-06-300001415921nmm:BareboatCharterOutContractMember2023-04-012023-06-300001415921nmm:NaviosHoldingsMember2024-06-3000014159212022-12-310001415921nmm:SuperintendentAttendancesAndClaimsPreparationMember2023-04-012023-06-300001415921nmm:OwnedVesselsMembernmm:AccumulatedDepreciationMember2023-12-310001415921nmm:QuarterlyCashDistributionMember2024-01-012024-04-300001415921nmm:TwoNewbuildingContainershipsIMembernmm:SecondInstalmentForTwoVesselsAndThirdInstalmentForOneVesselMember2023-12-310001415921nmm:TwoTeuNewbuildingMethanolReadyAndScrubberFittedContainershipsMember2024-06-300001415921nmm:VoyageContractsMember2023-01-012023-06-300001415921nmm:FinancialLiabilitiesMembernmm:NaviosAzimuthMember2024-06-300001415921nmm:TwoNewbuildingJapaneseMR2ProductTankerVesselsMember2022-12-012022-12-310001415921nmm:FourNewbuildingContainershipsMember2021-07-020001415921nmm:MinimumQuarterlyDistributionMembernmm:IncentiveDistributionRightHolderMember2024-01-012024-06-300001415921nmm:ManagementAgreementMembernmm:UponCompletionOfTheMergersMembernmm:UltraHandymaxVesselsMember2024-01-012024-06-300001415921nmm:ZimFalconMember2021-07-022021-07-020001415921nmm:ExtraOrdinaryCrewingFeesAndCostsMember2024-04-012024-06-300001415921us-gaap:GeneralPartnerMember2023-03-310001415921nmm:ZimEagleMember2024-01-252024-01-250001415921nmm:ManagementAgreementMember2023-01-012023-06-300001415921nmm:DNBUKLimitedExportImportBankOfChinaCreditFacilityMember2024-06-300001415921nmm:NaveCosmosMember2024-05-130001415921nmm:DryBulkVesselsMember2024-01-012024-06-300001415921nmm:TwoContainershipsAndTwoAframaxMembernmm:FinancialLiabilitiesMember2024-01-012024-06-300001415921nmm:ManagementAgreementMember2023-04-012023-06-300001415921nmm:OperatingLeasesMember2023-01-012023-06-300001415921nmm:NaviosFelixMember2023-03-0600014159212024-01-012024-03-310001415921us-gaap:GeneralPartnerMember2024-06-300001415921nmm:NaveCosmosMember2022-04-012022-04-300001415921nmm:NaviosAmberMembernmm:FinanceLeaseLiabilitiesMember2024-06-300001415921nmm:HcobAlphaBankSAAndNationalBankOfGreeceMember2023-07-242023-07-240001415921nmm:DepositsForVesselsAcquisitionsAndOtherLongTermAssetsMember2023-01-012023-06-300001415921nmm:FinanceLeasesMember2024-01-012024-06-300001415921nmm:FourAframaxLR2NewbuildingVesselsBMember2024-03-310001415921us-gaap:LimitedPartnerMember2023-06-300001415921nmm:TimeCharteringAndBareboatCharteringMember2024-04-012024-06-300001415921nmm:TwoNewbuildingLiquifiedNaturalGasDualFuelMember2024-06-300001415921nmm:AbnAmroBankNVMember2024-06-262024-06-260001415921nmm:NaviosAltairMember2023-03-292023-03-290001415921nmm:ManagementAgreementMembernmm:UponCompletionOfTheMergersMembernmm:Lr2AndLr1ProductTankerMember2024-01-012024-06-300001415921nmm:FourAframaxLr2NewbuildingScrubberFittedVesselsMembernmm:FirstTwoVesselsMember2024-04-012024-06-300001415921nmm:ExtraOrdinaryCrewingFeesAndCostsMember2023-04-012023-06-300001415921nmm:NordeaBankAbpMember2024-01-032024-01-030001415921nmm:FinancialLiabilitiesMembernmm:ZimSeagullMember2024-01-012024-06-300001415921nmm:ExtraOrdinaryCrewingFeesAndCostsMember2024-01-012024-06-300001415921nmm:FinancialLiabilitiesMembernmm:NaviosAzimuthMember2024-03-152024-03-150001415921nmm:NetBookValueMember2024-06-300001415921nmm:ManagementAgreementMembernmm:UponAcquisitionOfNaviosHoldingsMember2024-01-012024-06-300001415921nmm:RightOfUseAssetsUnderFinanceLeaseMembernmm:CostMember2023-12-310001415921nmm:VLCCMembernmm:ManagementAgreementMembernmm:UponCompletionOfTheMergersMember2024-01-012024-06-300001415921nmm:FinanceLeasesMember2024-06-300001415921nmm:VesselsAgreedToBeSoldMember2023-05-102023-05-100001415921nmm:PartnersOmnibusAgreementMember2024-01-012024-06-300001415921nmm:TwoContainershipsAndTwoAframaxMembernmm:FinancialLiabilitiesMember2024-06-300001415921nmm:RightOfUseAssetsUnderFinanceLeaseMembernmm:AccumulatedDepreciationMember2024-06-300001415921nmm:TotalQuarterlyDistributionTargetAmountMembersrt:MinimumMembernmm:SecondTargetDistributionMember2024-01-012024-06-300001415921nmm:AccumutaledAmortizationMember2023-12-310001415921us-gaap:LimitedPartnerMember2024-04-012024-06-300001415921us-gaap:LimitedPartnerMember2023-01-012023-03-310001415921nmm:ManagementAgreementMembernmm:UponAcquisitionOfNaviosAcquisitionMember2024-01-012024-06-300001415921nmm:SecondInstallmentForTwoVesselsMembernmm:TwoAframaxLR2NewbuildingVesselsMember2024-06-300001415921nmm:NaviosFelixMember2023-03-062023-03-060001415921nmm:CostMembernmm:VesselsMember2024-01-012024-06-300001415921nmm:HcobAlphaBankSAAndNationalBankOfGreeceMember2024-06-300001415921nmm:NaviosHoldingsMember2024-06-300001415921nmm:FourNewbuildingContainershipsMembernmm:FirstInstallmentOfEachVesselMember2021-12-310001415921nmm:TimeCharteringAndBareboatCharteringMember2023-01-012023-06-300001415921nmm:FourNewbuildingContainershipsMembernmm:LastInstallmentForTwoVesselsMember2024-06-300001415921nmm:DNBBANKASACreditFacilityMember2023-12-152023-12-150001415921nmm:RightOfUseAssetsUnderFinanceLeaseMembernmm:CostMember2024-06-3000014159212023-06-300001415921nmm:SecondInstalmentForFourVesselsAndThirdInstallmentForTwoVesselsMembernmm:FourNewbuildingContainershipsMember2022-12-310001415921nmm:ManagementAgreementMembernmm:UponCompletionOfTheMergersMembernmm:ContainershipOfTenThousandUpToElevenThousandNineHundredAndNinetyNineFootEquivalentUnitsMember2022-01-012022-12-310001415921nmm:ProfitSharingMember2024-04-012024-06-300001415921nmm:NaviosHoldingsMember2023-12-310001415921us-gaap:LimitedPartnerMember2023-01-012023-06-300001415921nmm:NaviosAltairMember2023-03-290001415921nmm:NetBookValueMember2023-12-310001415921nmm:AbnAmroBankNVMember2024-06-260001415921nmm:TwoNewbuildingContainershipsIMembernmm:ExerciseOfOptionMember2021-10-012021-10-010001415921nmm:DNBUKLimitedExportImportBankOfChinaCreditFacilityMember2023-02-162023-02-160001415921nmm:BaghdadErbilCelesteMembernmm:BareboatCharterOutContractMember2024-01-012024-06-300001415921nmm:NaviosVenusMembernmm:FinanceLeaseLiabilitiesMember2024-06-300001415921nmm:ManagementAgreementMembernmm:ContainershipOfThreeThousandUpToFourThousandNineHundredAndNinetyNineFootEquivalentUnitsMembernmm:UponCompletionOfTheMergersMember2022-01-012022-12-3100014159212023-04-012023-06-300001415921nmm:NaviosHoldingsMember2024-01-012024-06-300001415921nmm:FinanceLeasesIMember2024-06-300001415921nmm:TwoContainershipsAndTwoAframaxMembernmm:FinancialLiabilitiesMemberus-gaap:SubsequentEventMember2024-07-310001415921nmm:PoolingArrangementsMember2024-04-012024-06-300001415921nmm:FirstInstallmentForTwoVesselsMembernmm:TwoAframaxLr2NewbuildingScrubberFittedVesselsMember2024-06-300001415921nmm:TimeCharteringAndBareboatCharteringMember2023-04-012023-06-300001415921nmm:NaviosDolphinMemberus-gaap:SubsequentEventMember2024-07-012024-09-300001415921nmm:ManagementAgreementMembernmm:UponCompletionOfTheMergersMembernmm:ContainerVesselOfSixThousandEightHundedTwentyFootEquivalentUnitsMember2024-01-012024-06-300001415921nmm:TwoNewbuildingJapaneseMR2ProductTankerVesselsBMember2024-06-300001415921nmm:NaviosAmberMember2024-01-012024-06-300001415921nmm:OwnedVesselMemberus-gaap:SubsequentEventMembernmm:MasterManagementAgreementMember2024-08-012024-08-300001415921nmm:OperatingLeasesMember2023-04-012023-06-300001415921nmm:OlymposMaritimeLtdMember2024-01-012024-06-300001415921nmm:HcobAlphaBankSAAndNationalBankOfGreeceMember2024-05-012024-05-310001415921nmm:FourNewbuildingContainershipsIMember2021-11-012021-11-300001415921nmm:FinanceLeaseLiabilitiesMembernmm:NaviosDolphinMember2024-01-012024-06-300001415921nmm:ProfitSharingMember2024-01-012024-06-300001415921nmm:VesselsMembernmm:AccumulatedDepreciationMember2024-06-300001415921nmm:VesselsMembernmm:AccumulatedDepreciationMember2024-01-012024-06-300001415921nmm:CostMembernmm:OwnedVesselsMember2024-06-300001415921nmm:NaviosVenusMember2024-06-012024-06-300001415921nmm:AccumulatedDepreciationMember2023-12-310001415921nmm:HamburgCommercialBankAG210MCreditFacilityMember2024-06-300001415921nmm:AccumulatedDepreciationMember2024-01-012024-06-300001415921nmm:NetBookValueMembernmm:OwnedVesselsMember2023-12-310001415921nmm:NaviosHoldingsMember2023-01-012023-06-300001415921nmm:OperatingLeasesMember2023-12-310001415921us-gaap:FairValueInputsLevel3Member2024-06-300001415921nmm:FinancialLiabilitiesMembernmm:TwoNewBuildingContainershipsAndTwoNewBuildingAframaxMember2024-05-012024-05-310001415921nmm:ThirdInstallmentForOneVesselFourthInstallmentForOneVesselAndLastinstallmentForTwoVesselsMembernmm:FourNewbuildingContainershipsIMember2024-06-300001415921nmm:AbnAmroBankNVMember2024-01-012024-06-300001415921nmm:HcobAlphaBankSAAndNationalBankOfGreeceMember2021-12-072021-12-070001415921nmm:BNPParibasMember2023-06-122023-06-120001415921nmm:NavePolarisMemberus-gaap:SubsequentEventMember2024-08-012024-08-310001415921nmm:FourNewbuildingContainershipsMember2024-06-300001415921us-gaap:SubsequentEventMember2024-07-012024-08-310001415921nmm:CostMember2024-01-012024-06-300001415921nmm:FourAframaxLr2NewbuildingScrubberFittedVesselsMember2024-06-300001415921nmm:VoyageContractsMember2024-01-012024-06-300001415921nmm:CapesizeVesselsMembernmm:ManagementAgreementMembernmm:UponCompletionOfTheMergersMember2023-01-012023-12-310001415921nmm:FourAframaxLr2NewbuildingScrubberFittedVesselsMember2024-04-012024-06-300001415921nmm:QuarterlyCashDistributionMember2024-01-012024-07-310001415921nmm:ManagementAgreementMembernmm:MR1MR2ProductTankersAndChemicalTankerMembernmm:UponCompletionOfTheMergersMember2022-01-012022-12-310001415921us-gaap:LimitedPartnerMember2024-04-012024-06-300001415921nmm:AbnAmroBankNVMemberus-gaap:SubsequentEventMember2024-08-012024-08-310001415921nmm:NetBookValueMembernmm:RightOfUseAssetsUnderFinanceLeaseMember2023-12-3100014159212023-01-012023-06-300001415921nmm:TwoAframaxLR2NewbuildingVesselsMember2024-06-300001415921nmm:TotalQuarterlyDistributionTargetAmountMembernmm:ThirdTargetDistributionMembersrt:MaximumMember2024-01-012024-06-300001415921nmm:AbnAmroBankNVMembernmm:FirstTrancheMember2024-06-282024-06-280001415921nmm:FinancialLiabilitiesMembernmm:TwoNewBuildingContainershipsAndTwoNewBuildingAframaxMember2024-01-012024-06-300001415921nmm:ManagementAgreementMembernmm:MR1MR2ProductTankersAndChemicalTankerMembernmm:UponCompletionOfTheMergersMember2024-01-012024-06-300001415921nmm:DepositsForVesselsAcquisitionsAndOtherLongTermAssetsMember2024-04-012024-06-3000014159212024-01-012024-06-300001415921nmm:TwoNewbuildingJapaneseMR2ProductTankerVesselsBMember2023-08-012023-08-310001415921nmm:SecondTargetDistributionMembernmm:IncentiveDistributionRightHolderMember2024-01-012024-06-300001415921nmm:FourAframaxLR2NewbuildingVesselsMember2024-06-300001415921nmm:CommonUnitRepurchaseProgramMemberus-gaap:SubsequentEventMemberus-gaap:LimitedPartnerMember2024-09-042024-09-040001415921us-gaap:FairValueInputsLevel3Member2023-12-310001415921nmm:NaviosAmberMemberus-gaap:SubsequentEventMember2024-07-012024-09-300001415921nmm:TwelveVesselsSoldMember2023-06-300001415921nmm:ManagementAgreementMember2024-01-012024-06-300001415921nmm:ManagementAgreementMember2024-04-012024-06-300001415921nmm:NaviosCarolMember2024-06-032024-06-030001415921nmm:ZimCondorMember2024-04-080001415921nmm:VesselsMember2023-01-012023-06-300001415921nmm:SuperintendentAttendancesAndClaimsPreparationMember2023-01-012023-06-300001415921nmm:NaveCosmosMember2024-05-132024-05-130001415921nmm:CostMembernmm:OwnedVesselsMember2024-01-012024-06-300001415921nmm:FirstTargetDistributionMembernmm:IncentiveDistributionRightHolderMember2024-01-012024-06-300001415921nmm:ManagementAgreementMembernmm:UponCompletionOfTheMergersMembernmm:ContainershipOfTenThousandUpToElevenThousandNineHundredAndNinetyNineFootEquivalentUnitsMember2023-01-012023-12-310001415921nmm:DNBUKLimitedExportImportBankOfChinaCreditFacilityMember2024-01-012024-06-300001415921nmm:HcobAlphaBankSAAndNationalBankOfGreeceMembersrt:MaximumMember2023-07-242023-07-240001415921nmm:NordeaBankAbpMember2024-01-012024-06-300001415921nmm:VoyageContractsMember2024-04-012024-06-300001415921nmm:FourNewbuildingContainershipsIMember2024-06-300001415921us-gaap:GeneralPartnerMember2024-01-012024-03-310001415921us-gaap:FairValueInputsLevel2Member2023-12-310001415921nmm:OperatingLeasesMember2024-04-012024-06-300001415921nmm:FourAframaxLr2NewbuildingScrubberFittedVesselsMembernmm:OtherTwoVesselsMember2024-06-300001415921nmm:FinanceLeaseLiabilitiesMembernmm:NaviosCitrineMember2024-01-012024-06-300001415921nmm:FourAframaxLR2NewbuildingVesselsBMember2024-01-012024-03-310001415921nmm:BNPParibasMember2023-06-120001415921nmm:VesselsMembernmm:AccumulatedDepreciationMember2023-12-310001415921us-gaap:FairValueInputsLevel1Member2023-12-310001415921nmm:OneNewBuildingCapesizeVesselMember2024-06-300001415921nmm:PoolingArrangementsMember2023-04-012023-06-300001415921nmm:ZimPelicanMemberus-gaap:SubsequentEventMember2024-07-012024-07-3100014159212023-01-012023-03-310001415921nmm:ExtraOrdinaryCrewingFeesAndCostsMember2023-01-012023-06-300001415921nmm:BNPParibasMember2024-01-012024-06-300001415921nmm:RightOfUseAssetsUnderFinanceLeaseMembernmm:AccumulatedDepreciationMember2024-01-012024-06-300001415921nmm:FirstInstallmentForTwoVesselsMembernmm:TwoAframaxLR2NewbuildingVesselsMember2023-12-310001415921nmm:ProfitSharingMember2023-04-012023-06-300001415921nmm:FinanceLeasesMember2023-04-012023-06-300001415921nmm:TotalBorrowingsMember2024-06-300001415921nmm:FourAframaxLR2NewbuildingVesselsMember2022-04-012022-04-300001415921nmm:ThirdTargetDistributionMemberus-gaap:LimitedPartnerMember2024-01-012024-06-300001415921nmm:TwoContainershipsAndTwoAframaxMembernmm:FinancialLiabilitiesMemberus-gaap:SubsequentEventMember2024-08-012024-08-310001415921nmm:FirstInstallmentFourVesselsMembernmm:FourAframaxLR2NewbuildingVesselsBMember2024-06-300001415921us-gaap:LimitedPartnerMember2023-03-310001415921nmm:VoyageContractsMember2023-04-012023-06-300001415921nmm:MasterManagementAgreementMemberus-gaap:SubsequentEventMember2024-08-012024-08-300001415921nmm:ManagementAgreementMembernmm:UponAcquisitionOfNaviosAcquisitionMembernmm:SpecializedTranshipperVesselMember2024-01-012024-06-300001415921us-gaap:GeneralPartnerMember2023-01-012023-03-310001415921nmm:NordeaBankAbpMember2024-01-030001415921nmm:TwoNewbuildingLiquifiedNaturalGasDualFuelMembernmm:FirstInstallmentOfEachVesselMember2022-12-310001415921nmm:BareboatCharterInContractMembernmm:NaviosLibraAndNaveCelesteMember2024-06-300001415921us-gaap:SubsequentEventMembernmm:ThirdVesselSoldMember2024-07-012024-08-310001415921nmm:DepositsForVesselsAcquisitionsAndOtherLongTermAssetsMember2024-01-012024-06-300001415921nmm:FourAframaxLR2NewbuildingVesselsMembernmm:SecondInstallmentForFourVesselsAndThirdInstallmentForOneVesselMember2023-12-310001415921nmm:TwoAframaxLR2NewbuildingVesselsMember2022-11-012022-11-300001415921nmm:BNPParibasMember2024-04-292024-04-290001415921nmm:VLCCMembernmm:ManagementAgreementMembernmm:UponCompletionOfTheMergersMember2023-01-012023-12-310001415921nmm:BareboatCharterOutContractMember2024-04-012024-06-300001415921nmm:BareboatCharterInContractMembernmm:BaghdadErbilMember2024-06-300001415921nmm:TimeCharteringAndBareboatCharteringMember2024-01-012024-06-300001415921nmm:BareboatCharterOutContractMember2023-01-012023-06-300001415921nmm:ProfitSharingMember2023-01-012023-06-300001415921nmm:TwoNewbuildingJapaneseMR2ProductTankerVesselsMember2023-04-012023-06-300001415921nmm:AccumutaledAmortizationMember2024-06-300001415921nmm:ThereafterTargetDistributionMemberus-gaap:LimitedPartnerMember2024-01-012024-06-300001415921nmm:KFWIPEXBANKCreditFacilityMember2024-06-300001415921nmm:NetBookValueMembernmm:VesselsMember2024-06-300001415921nmm:PanamaxVesselsMembernmm:ManagementAgreementMembernmm:UponCompletionOfTheMergersMember2024-01-012024-06-300001415921us-gaap:LimitedPartnerMember2024-01-012024-03-310001415921us-gaap:LimitedPartnerMember2024-03-310001415921nmm:FinancialLiabilitiesMembernmm:TwoNewBuildingContainershipsAndTwoNewBuildingAframaxMember2024-06-300001415921nmm:DNBUKLimitedExportImportBankOfChinaCreditFacilityMemberus-gaap:SubsequentEventMember2024-07-012024-07-310001415921nmm:VLCCMembernmm:ManagementAgreementMembernmm:UponCompletionOfTheMergersMember2022-01-012022-12-310001415921nmm:FirstInstallmentForFourVesselsSecondInstallmentForTwoVesselsThirdInstallmentOneVesselMembernmm:FourNewbuildingContainershipsIMember2022-12-310001415921nmm:TotalQuarterlyDistributionTargetAmountMembernmm:ThirdTargetDistributionMembersrt:MinimumMember2024-01-012024-06-300001415921nmm:ZimPelicanMember2021-07-022021-07-020001415921nmm:ManagementAgreementMembernmm:UltraHandymaxVesselsMembernmm:UponCompletionOfTheMergersMember2022-01-012022-12-310001415921nmm:ManagementAgreementMembernmm:UponCompletionOfTheMergersMembernmm:ContainerVesselOfSixThousandEightHundedTwentyFootEquivalentUnitsMember2023-01-012023-12-310001415921nmm:FourAframaxLR2NewbuildingVesselsBMember2024-06-3000014159212024-03-310001415921nmm:HamburgCommercialBankAG210MCreditFacilityMember2022-09-050001415921nmm:TwoNewbuildingLiquifiedNaturalGasDualFuelMember2022-06-012022-06-300001415921nmm:FourNewbuildingContainershipsMember2021-07-022021-07-020001415921nmm:RemainingThreeNewbuildingVesselsMember2022-04-012022-04-300001415921nmm:FinancialLiabilitiesMembernmm:ZimSeagullMemberus-gaap:SubsequentEventMember2024-07-310001415921nmm:TwoNewbuildingJapaneseMR2ProductTankerVesselsMembernmm:FirstInstallmentForTwoVesselsMember2023-12-310001415921us-gaap:FairValueInputsLevel2Member2024-06-300001415921nmm:TwoNewbuildingContainershipsIMembernmm:ExerciseOfOptionMember2024-06-300001415921nmm:TwoNewbuildingContainershipsIMembernmm:ExerciseOfOptionMember2021-12-310001415921nmm:CapesizeVesselsMembernmm:ManagementAgreementMembernmm:UponCompletionOfTheMergersMember2024-01-012024-06-300001415921nmm:SecondTargetDistributionMemberus-gaap:LimitedPartnerMember2024-01-012024-06-300001415921nmm:DNBBANKASACreditFacilityMember2024-06-282024-06-280001415921nmm:ZimFalconMemberus-gaap:SubsequentEventMember2024-07-012024-07-310001415921nmm:FinancialLiabilitiesMembernmm:OneNewBuildingVesselMember2024-01-012024-06-300001415921nmm:DNBBANKASACreditFacilityMember2021-08-192021-08-190001415921nmm:ManagementAgreementMembernmm:LR1ProductTankerMembernmm:UponCompletionOfTheMergersMember2023-01-012023-12-310001415921nmm:TwelveVesselsSoldMember2023-01-012023-06-300001415921nmm:TotalQuarterlyDistributionTargetAmountMembernmm:ThereafterTargetDistributionMember2024-01-012024-06-300001415921nmm:QuarterlyCashDistributionMember2023-01-012023-01-310001415921nmm:QuarterlyCashDistributionMember2024-07-012024-07-310001415921nmm:BareboatCharterInContractMembernmm:NaviosAmiteNaviosStarMember2024-06-300001415921nmm:CommonUnitRepurchaseProgramMembersrt:MaximumMember2022-07-310001415921nmm:NaviosAmberMembernmm:FinanceLeaseLiabilitiesMember2024-01-012024-06-300001415921nmm:HamburgCommercialBankAG210MCreditFacilityMember2023-01-012023-12-310001415921nmm:FinanceLeaseLiabilitiesMembernmm:NaviosCitrineMember2024-06-300001415921nmm:NetBookValueMembernmm:OwnedVesselsMember2024-01-012024-06-300001415921nmm:FinancialLiabilitiesMembernmm:TwelveContainershipsMember2024-06-300001415921nmm:CapesizeVesselsMembernmm:ManagementAgreementMembernmm:UponCompletionOfTheMergersMember2022-01-012022-12-310001415921nmm:HamburgCommercialBankAG210MCreditFacilityMember2022-09-052022-09-050001415921us-gaap:GeneralPartnerMember2024-03-310001415921nmm:SuperintendentAttendancesAndClaimsPreparationMember2024-01-012024-06-300001415921nmm:OperatingLeasesMember2024-06-300001415921nmm:NaviosVenusMembernmm:FinanceLeaseLiabilitiesMember2024-06-012024-06-300001415921us-gaap:SubsequentEventMember2024-07-012024-09-300001415921nmm:DepositsForVesselsAcquisitionsAndOtherLongTermAssetsMember2023-04-012023-06-300001415921us-gaap:LimitedPartnerMember2023-12-310001415921nmm:RightOfUseAssetsUnderFinanceLeaseMembernmm:CostMember2024-01-012024-06-300001415921nmm:NetBookValueMembernmm:RightOfUseAssetsUnderFinanceLeaseMember2024-01-012024-06-300001415921nmm:VesselsAgreedToBeSoldMember2023-05-100001415921nmm:DNBBANKASACreditFacilityMember2021-12-130001415921nmm:TwoNewbuildingJapaneseMR2ProductTankerVesselsBMembernmm:FirstInstallmentForTwoVesselsMember2023-12-310001415921nmm:IncentiveDistributionRightHolderMembernmm:ThereafterTargetDistributionMember2024-01-012024-06-300001415921nmm:FirstVesselSoldMemberus-gaap:SubsequentEventMember2024-07-012024-08-310001415921nmm:NaviosCoralMembernmm:FinanceLeaseLiabilitiesMember2024-01-012024-06-300001415921nmm:FirstTargetDistributionMembernmm:TotalQuarterlyDistributionTargetAmountMember2024-01-012024-06-300001415921nmm:FourAframaxLr2NewbuildingScrubberFittedVesselsMembernmm:OtherTwoVesselsMember2024-04-012024-06-300001415921nmm:OlymposMaritimeLtdMember2024-06-300001415921us-gaap:SubsequentEventMembernmm:FourthVesselSoldMember2024-07-012024-08-310001415921nmm:FinanceLeasesMember2024-04-012024-06-300001415921nmm:FinancialLiabilitiesMembernmm:TwelveContainershipsMember2024-01-012024-06-300001415921nmm:NavePolarisMember2022-04-012022-04-300001415921us-gaap:GeneralPartnerMembernmm:SecondTargetDistributionMember2024-01-012024-06-300001415921nmm:NaviosHoldingsMember2024-01-012024-06-300001415921nmm:OwnedVesselsMembernmm:AccumulatedDepreciationMember2024-06-300001415921us-gaap:GeneralPartnerMember2023-12-310001415921nmm:FourAframaxLR2NewbuildingVesselsMembernmm:ThirdInstallmentForOtherThreeVesselsAndFourthInstallmentForTwoVesselsAndLastInstallmentForOneVesselMember2024-06-300001415921nmm:FinancialLiabilitiesMembernmm:TwelveContainershipsMember2024-05-012024-05-310001415921nmm:QuarterlyCashDistributionMember2024-01-012024-02-290001415921nmm:ManagementAgreementMembernmm:LR1ProductTankerMembernmm:UponCompletionOfTheMergersMember2022-01-012022-12-310001415921nmm:PanamaxVesselsMembernmm:ManagementAgreementMembernmm:UponCompletionOfTheMergersMember2022-01-012022-12-310001415921nmm:RightOfUseAssetsUnderFinanceLeaseMembernmm:AccumulatedDepreciationMember2023-12-310001415921nmm:NetBookValueMembernmm:OwnedVesselsMember2024-06-300001415921nmm:TwoTeuNewbuildingMethanolReadyAndScrubberFittedContainershipsMember2024-04-012024-06-300001415921nmm:PoolingArrangementsMember2023-01-012023-06-300001415921nmm:ThirdTargetDistributionMembernmm:IncentiveDistributionRightHolderMember2024-01-012024-06-300001415921nmm:ThirdInstallmentForOtherOneVesselMembernmm:TwoNewbuildingContainershipsIMember2024-06-300001415921nmm:AbnAmroBankNVMemberus-gaap:SubsequentEventMember2024-08-310001415921nmm:TwoNewbuildingJapaneseMR2ProductTankerVesselsMember2024-06-300001415921nmm:BareboatCharterOutContractMember2024-01-012024-06-300001415921nmm:KFWIPEXBANKCreditFacilityMember2022-09-012022-09-300001415921nmm:DNBBANKASACreditFacilityMember2021-08-190001415921srt:MinimumMembernmm:HcobAlphaBankSAAndNationalBankOfGreeceMember2023-07-242023-07-240001415921nmm:FinancialLiabilitiesMembernmm:OneNewBuildingVesselMember2024-06-300001415921nmm:NaviosCoralMembernmm:FinanceLeaseLiabilitiesMember2024-06-300001415921nmm:CostMembernmm:VesselsMember2024-06-300001415921nmm:SuperintendentAttendancesAndClaimsPreparationMember2024-04-012024-06-300001415921nmm:MinimumQuarterlyDistributionMemberus-gaap:LimitedPartnerMember2024-01-012024-06-300001415921nmm:ZimHawkMember2024-06-030001415921nmm:HcobAlphaBankSAAndNationalBankOfGreeceMember2023-01-012023-01-310001415921nmm:QuarterlyCashDistributionMember2023-01-012023-04-300001415921nmm:FinanceLeaseLiabilitiesMembernmm:NaviosDolphinMember2024-06-300001415921nmm:FinancialLiabilitiesMembernmm:ZimSeagullMemberus-gaap:SubsequentEventMember2024-08-012024-08-310001415921nmm:CostMember2023-12-310001415921nmm:ManagementAgreementMembernmm:ContainershipOfThreeThousandUpToFourThousandNineHundredAndNinetyNineFootEquivalentUnitsMembernmm:UponCompletionOfTheMergersMember2024-01-012024-06-300001415921nmm:ManagementAgreementMembernmm:MR1MR2ProductTankersAndChemicalTankerMembernmm:UponCompletionOfTheMergersMember2023-01-012023-12-310001415921nmm:FinanceLeasesMember2023-01-012023-06-300001415921nmm:HamburgCommercialBankAG210MCreditFacilityMember2024-01-012024-06-300001415921nmm:FirstTargetDistributionMemberus-gaap:LimitedPartnerMember2024-01-012024-06-300001415921nmm:PoolingArrangementsMember2024-01-012024-06-300001415921nmm:NaviosVegaBMembernmm:NSALMember2023-01-012023-10-310001415921nmm:NetBookValueMembernmm:VesselsMember2024-01-012024-06-300001415921nmm:ZimHawkMember2021-11-012021-11-300001415921nmm:NaviosSakuraMember2023-04-270001415921nmm:TotalQuarterlyDistributionTargetAmountMembernmm:SecondTargetDistributionMembersrt:MaximumMember2024-01-012024-06-300001415921us-gaap:SubsequentEventMembernmm:NaviosCitrineMember2024-07-012024-09-300001415921nmm:ZimSparrowBMember2021-07-022021-07-020001415921nmm:ZimEagleMember2024-01-250001415921us-gaap:FairValueInputsLevel1Member2024-06-300001415921us-gaap:GeneralPartnerMember2023-06-300001415921nmm:NetBookValueMembernmm:RightOfUseAssetsUnderFinanceLeaseMember2024-06-300001415921nmm:FourAframaxLR2NewbuildingVesselsMembernmm:FirstInstallmentFourVesselsMember2022-12-310001415921us-gaap:LimitedPartnerMember2024-01-012024-06-300001415921us-gaap:SubsequentEventMembernmm:SecondVesselSoldMember2024-07-012024-08-310001415921nmm:NaviosAmberMember2024-06-300001415921nmm:NaviosMeridianMember2023-02-052023-02-050001415921nmm:ZimCondorMember2021-11-012021-11-300001415921nmm:DNBBANKASACreditFacilityMember2024-02-202024-02-20nmm:Installmentiso4217:USDxbrli:sharesxbrli:purexbrli:sharesnmm:Tranchesnmm:Vesselnmm:VesselCapacitynmm:Entityiso4217:USDnmm:Capacity

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: ~~September~~November 1213, 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-F ☒		Form 40-F ☐

NAVIOS MARITIME PARTNERS L.P.

FORM 6-K

TABLE OF CONTENTS


		Page
Operating and Financial Review and Prospects		1
Exhibit List		21
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 and ~~six~~nine month periods ended ~~June~~September 30, 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, lube oil, bunkers, repairs, maintenance and general and administrative expenses, the expected cost of, and our ability to comply with, governmental regulations and maritime self-regulatory organization standards, as well as standard regulations imposed by our charterers applicable to our business, general domestic and international political conditions, competitive factors in the market in which Navios Partners operates; risks associated with operations outside the United States; and other factors listed from time to time in Navios Partners’ filings with the SEC, including its Form 20-F and Form 6-K.

Navios Partners expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Navios Partners’ expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. Navios Partners makes no prediction or statement about the performance of its common units.

Recent Developments

In ~~July~~October 2024, Navios Partners took delivery of the ~~Zim~~Navios ~~Falcon~~Utmost, a 2024-built 5,300 TEU containership and the ~~Zim~~Nave ~~Pelican~~Photon, ~~two~~a 2024-built ~~5,300~~Aframax/LR2 ~~TEU~~tanker ~~Containerships~~vessel ~~from~~of an115,752 dwt from unrelated third ~~party~~parties (see “Fleet for employment details”).

In July and August 2024, Navios Partners agreed to sell two 2009-built MR2 Product Tanker vessels of 50,542 dwt and 50,470 dwt, respectively, a 2005-built Post-Panamax vessel of 87,052 dwt and a 2006-built Kamsarmax vessel of 82,790 dwt, to unrelated third parties, for aggregate gross sale proceeds of $78.5 million. The sale of the 2005-built Post-Panamax vessel of 87,052 dwt was completed on August 26, 2024 and the sales of the remaining three vessels are expected to be completed during the second half of 2024.

In July and September 2024, Navios Partners acquired from unrelated third parties, the Navios Citrine, a previously chartered-in 2017-built Kamsarmax vessel of 81,626 dwt, the Navios Dolphin, a previously chartered-in 2017-built Kamsarmax vessel of 81,630 dwt and the Navios Amber, a previously chartered-in 2015-built Kamsarmax vessel of 80,994 dwt, for an aggregate purchase price of $88.0 million.

In August 2024, Navios Partners took delivery of the Nave Polaris, a 2024-built Aframax/LR2 vessel of 115,699 dwt and the Zim Seagull, a 2024-built 5,300 TEU Containership from unrelated third parties.

In August 2024, Navios Partners renewed its management agreements (the “Master Management Agreement”) and its administrative services agreement (the “Renewed Administrative Services Agreement,” together with the Master Management Agreement, the “Agreements”) with Navios Shipmanagement Inc. and its affiliates (the “Manager”) which are entities affiliated with the Navios Partners’ Chairwoman and Chief Executive Officer commencing January 1, 2025, for a term of ten years, renewing annually. The Conflicts Committee of the Board of Directors, consisting of independent directors, negotiated and approved the Agreements with the advice of Watson Farley & Williams LLP as legal advisor and KPMG Advisors Single Member S.A. (a member firm of the KPMG global organization of independent member firms) as financial advisor. The Renewed Administrative Services Agreement provides for reimbursement of allocable general and administrative costs. The Master Management Agreement provides for technical and commercial management and related specialized services based on fee structure, including: (i) a technical management fee of $950 per day per owned vessel; (ii) a commercial management fee of 1.25% on revenues; (iii) an S&P fee of 1% on purchase or sales price; and (iv) fees for other specialized services (e.g. supervision of newbuilding vessels). Fixed fees will be adjusted annually for United States Consumer Price Index. The Master Management Agreement also allows for fixed incentive awards if equity returns exceed certain thresholds, as identified in such agreement, upon the unanimous consent of the Board of Directors of Navios Partners. The Agreements provide for payment of a termination fee, which termination fee for the Master Management Agreement is equal to the net present value of the technical and commercial management fees charged for the most recent calendar year for the number of years remaining for the Master Management Agreement, using a 6% discount rate and such termination fee for the Renewed Administrative Services Agreement is equal to the costs charged for the most recent calendar year, each as set forth in the latest audited annual financial statements.

Overview

We are an international owner and operator of dry cargo and tanker vessels that was formed in August 2007 by Navios Holdings. We have been a public company since November 2007.

As of ~~September~~November 411, 2024, there were outstanding 29,~~937~~807,~~815~~098 common units and 622,296 general partnership units. Angeliki Frangou, our Chief Executive Officer and Chairwoman beneficially owns an approximately 16.89% common interest of the total outstanding common units including 4,672,314 common units held through four entities affiliated with her. An entity affiliated with Angeliki Frangou beneficially owns 622,296 general partnerships units, representing an approximately 2.0% ownership interest in Navios Partners based on all outstanding common units and general partnership units.

In July 2022, the Board of Directors of Navios Partners authorized a common unit repurchase program for up to $100.0 million of Navios Partners’ common units. Common unit repurchases will be made from time to time for cash in open market transactions at prevailing market prices or in privately negotiated transactions. The timing and amount of repurchases under the program will be determined by Navios Partners’ management based upon market conditions and financial and other considerations, including working capital and planned or anticipated growth opportunities. The program does not require any minimum repurchase or any specific number of common units and may be suspended or reinstated at any time in the Navios Partners’ discretion and without notice. The Board of Directors will review the program periodically. As of November 11, 2024, Navios Partners had repurchased 377,290 common units, for a total cost of approximately $19.7 million.

program does not require any minimum repurchase or any specific number of common units and may be suspended or reinstated at any time in the Navios Partners’ discretion and without notice. The Board of Directors will review the program periodically. As of September 4, 2024, Navios Partners had repurchased 246,573 common units, for a total cost of approximately $12.2 million.

Fleet

Navios Partners’ fleet consists of 7473 dry bulk vessels, 4850 containerships and 56 tanker vessels, including 2019 newbuilding tankers (1413 Aframax/LR2 and six MR2 product tanker chartered-in vessels under bareboat contracts), that are expected to be delivered through the first half of 2028, and ~~seven~~eight newbuilding containerships (~~three~~two 5,300 TEU containerships, two 7,700 TEU containerships and ~~two~~four 7,900 TEU containerships), that are expected to be delivered through ~~2026.~~the ~~The~~first ~~fleet~~half ~~excludes~~of ~~two MR2 product tankers and one Kamsarmax that have been agreed to be sold~~2027.

We generate revenues by charging our customers for the use of our vessels to transport their dry cargo commodities, containers, crude oil and/or refined petroleum products. In general, the vessels in our fleet are chartered-out under time charters, ~~which~~with ~~range in~~ length ~~from~~up ~~one~~ to 12 years at inception. From time to time, we operate vessels in the spot market until the vessels have been chartered out under short, medium and long-term charters.


The following table provides summary information about our fleet as of November 7, 2024:

Owned Drybulk Vessels	Type	Built	Capacity (DWT)		Charter-Out Rate(1)		Index(2)	Expiration Date(3)
Navios Vega	Transhipper	2009		57,573	$	25,800	No	Jan-29
Navios Christine B	Ultra-Handymax	2009		58,058	$	9,500	No	Nov-24
Navios Celestial	Ultra-Handymax	2009		58,063		—	100% average BSI 58 10TC	Apr-25
Navios La Paix	Ultra-Handymax	2014		61,485		—	111.0% average BSI 58 10TC	Apr-26
N Amalthia	Panamax	2006		75,318		—	90.0% average BPI 82	Apr-25
Navios Hope	Panamax	2005		75,397		—	100.0% average BPI 82 less $1,283	Mar-25
Navios Sagittarius (5)	Panamax	2006		75,756		—	100.0% average BPI 82 less $1,286	Nov-24
Navios Galileo	Panamax	2006		76,596	$	13,775	No	Dec-24
Navios Sun	Panamax	2005		76,619		—	100.0% average BPI 82 less $1,286	Feb-25
Navios Asteriks (23)	Panamax	2005		76,801	$	11,163	No	Nov-24
Navios Helios	Panamax	2005		77,075		—	100.0% average BPI 82 less $1,283	Jun-25
Navios Victory	Panamax	2014		77,095		—	96.0% average BPI 82	Dec-25
Unity N	Panamax	2011		79,642		—	89.0% average BPI 82	Dec-25
Odysseus N	Panamax	2011		79,642		—	90.0% average BPI 82	Jul-25
Rainbow N	Panamax	2011		79,642	$	13,775	No	Dec-24
Navios Amber	Kamsarmax	2015		80,994	$	17,290	No	Apr-26
Navios Avior	Kamsarmax	2012		81,355		—	100.0% average BPI 82	Jan-25
Navios Centaurus	Kamsarmax	2012		81,472		—	101.0% average BPI 82	Oct-25
Navios Citrine	Kamsarmax	2017		81,626		—	110.0% average BPI 82	Jan-26
Navios Dolphin	Kamsarmax	2017		81,630	$	14,013	No	Jan-25
					$	15,200	No	Dec-25
Navios Horizon I (23)	Kamsarmax	2019		81,692	$	15,731	No	Dec-24
					$	13,414	No	Mar-25
						—	110.0% average BPI 82	Apr-25
Navios Galaxy II (6)	Kamsarmax	2020		81,789		—	112.5% average BPI 82	Feb-27
Navios Uranus (6)	Kamsarmax	2019		81,821	$	16,071	No	Dec-24
						—	112.0% average BPI 82	Apr-26
Navios Felicity I (6)	Kamsarmax	2020		81,962	$	18,425	No	Dec-24
						—	114.0% average BPI 82	Jan-25
Navios Primavera (5)	Kamsarmax	2022		82,003		—	115.0% average BPI 82	Nov-24
						—	114.0% average BPI 82	Jan-26
Navios Meridian (5)	Kamsarmax	2023		82,010		—	115.5% average BPI 82	Jan-25
						—	113.5% average BPI 82	Oct-25
Navios Herakles I (6)	Kamsarmax	2019		82,036		—	113.5% average BPI 82	Oct-25
Navios Magellan II (6)	Kamsarmax	2020		82,037		—	112.0% average BPI 82	Oct-25
Navios Sky (5)	Kamsarmax	2015		82,056		—	102.0 % average BPI 82	Jan-26
Navios Alegria (23)	Kamsarmax	2016		84,852	$	14,197	No	Dec-24
					$	15,400	No	Dec-25
Navios Sphera	Kamsarmax	2016		84,872	$	16,237	No	Dec-24
					$	13,696	No	Mar-25
						—	110.0% of average BPI 82	Oct-25
Navios Coral	Kamsarmax	2016		84,904		—	110.0% average BPI 82	Apr-26
Copernicus N	Post-Panamax	2010		93,062	$	10,070	No	Nov-24
Navios Stellar (5)	Capesize	2009		169,001		—	97.0% average BCI 5TC	Jun-26
Navios Aurora II	Capesize	2009		169,031		—	99.0% average BCI 5TC	Jan-25
Navios Antares (5)	Capesize	2010		169,059		—	100.0% average BCI 5TC	Feb-25
Navios Symphony	Capesize	2010		178,132		—	102.75% average BCI 5TC	Apr-26
Navios Ace (5)	Capesize	2011		179,016	$	27,612	No	Dec-24

The following table provides summary information about our fleet as of September 5, 2024:
						—		107.25% average BCI 5TC	Feb-25
Owned Drybulk Vessels	Type	Built	Capacity(DWT)		Charter-OutRate(1)			Index(2)	ExpirationDate(3)
Navios Melodia	Capesize	2010		179,132	$	27,737		No	Dec-24
Navios Vega	Transhipper	2009		57,573	$	25,800		No	Jan-29
					$	16,593		No	Mar-25
Navios Christine B	Ultra-Handymax	2009		58,058		—		99.0% average BSI 58 10TC	Oct-24
						—		104.0% average BCI 5TC	Apr-26
Navios Celestial	Ultra-Handymax	2009		58,063		—		100% average BSI 58 10TC	Apr-25
Navios Luz	Capesize	2010		179,144		—		105.5% average BCI 5TC	Dec-24
Navios La Paix	Ultra-Handymax	2014		61,485		—		111.0% average BSI 58 10TC	Apr-26
					$	16,637		No	Mar-25
N Amalthia	Panamax	2006		75,318		—		90.0% average BPI 82	Apr-25
						—		105.5% average BCI 5TC	Oct-25
Navios Hope	Panamax	2005		75,397		—		100.0% average BPI 82 less $1,283	Mar-25
Navios Altamira	Capesize	2011		179,165		—		107.0% average BCI 5TC	Mar-25
Navios Sagittarius (5)	Panamax	2006		75,756		—		100.0% average BPI 82 less $1,286	Nov-24
Navios Azimuth (23)	Capesize	2011		179,169	$	27,930		No	Dec-24
Navios Taurus	Panamax	2005		76,596	$	9,975		No	Sep-24
						—		105.0% average BCI 5TC	Feb-25
					$	10,450		No	Oct-24
Navios Etoile	Capesize	2010		179,234	$	27,930		No	Dec-24
Navios Galileo	Panamax	2006		76,596	$	13,775		No	Dec-24
						—		105.0% average BCI 5TC	Feb-25
Navios Sun	Panamax	2005		76,619		—		100.0% average BPI 82 less $1,286	Dec-24
Navios Buena Ventura	Capesize	2010		179,259	$	23,342		No	Dec-24
Navios Asteriks (23)	Panamax	2005		76,801		—		100.0% average BPI 82 less $1,286	Oct-24
						—		105.0% average BCI 5TC	Feb-25
Navios Helios	Panamax	2005		77,075		—		100.0% average BPI 82 less $1,283	Jun-25
Navios Bonheur	Capesize	2010		179,259		—		104.0% average BCI 5TC	Feb-25
Navios Victory	Panamax	2014		77,095		—		96.0% average BPI 82	Dec-25
Navios Fulvia	Capesize	2010		179,263	$	27,631		No	Dec-24
Unity N	Panamax	2011		79,642		—		89.0% average BPI 82	Dec-25
						—		105.0% average BCI 5TC	Feb-25
Odysseus N	Panamax	2011		79,642	$	14,250		No	Sep-24
Navios Aster	Capesize	2010		179,314	$	23,495		No	Dec-24
						—		90108.0% average ~~BPI~~BCI 825TC	~~Jul~~Feb-25
Rainbow N	Panamax	2011		79,642	$	13,775		No	Nov-24
Navios Ray (5)	Capesize	2012		179,515	$	27,731		No	Dec-24
Navios Avior	Kamsarmax	2012		81,355		—		100.0% average BPI 82	Jan-25
						—		105.0% average BCI 5TC	Feb-25
Navios Centaurus	Kamsarmax	2012		81,472		—		101.0% average BPI 82	Nov-24
Navios Happiness	Capesize	2009		180,022	$	22,626		No	Dec-24
Navios Amber	Kamsarmax	2015		80,994	$	17,290		No	Apr-26
					$	17,396		No	Mar-25
Navios Horizon I (23)	Kamsarmax	2019		81,692	$	18,786		No	Sep-24
						—		109.0% average BCI 5TC	Apr-25
						—		110.0% average BPI 82	Apr-25
Navios Bonavis (5)	Capesize	2009		180,022		—		103.0% average BCI 5TC	Apr-26
Navios Galaxy II (6)	Kamsarmax	2020		81,789	$	18,421		No	Sep-24
Navios Phoenix (5)	Capesize	2009		180,242	$	22,765		No	Dec-24
						—		112.5% average BPI 82	Dec-24
					$	16,955		No	Mar-25
Navios Uranus (6)	Kamsarmax	2019		81,821	$	18,806		No	Sep-24
						—		100.0% average BCI5TC + $1,905 per day	Aug-26
						—		112.0% average BPI 82	Apr-26
Navios Fantastiks	Capesize	2005		180,265	$	17,575		No	Jun-26
Navios Felicity I (6)	Kamsarmax	2020		81,962	$	18,699		No	Sep-24
Navios Sol (5)	Capesize	2009		180,274		—		108.0% average BCI 5TC	Dec-24
					$	1817,~~425~~339		No	~~Dec~~Mar-2425
						—		~~114~~108.0% average ~~BPI~~BCI 825TC	~~Jan~~Jun-2526
Navios Primavera (5)	Kamsarmax	2022		82,003		—		115.0% average BPI 82	Nov-24
Navios Canary (23)	Capesize	2015		180,528	$	33,369		No	Dec-24
Navios Meridian (5)	Kamsarmax	2023		82,010	$	17,650		No	Sep-24
						—		125.0% average BCI 5TC	Feb-25
						—		115.5% average BPI 82	Nov-24
Navios Lumen (5)	Capesize	2009		180,661	$	28,397		No	Dec-24
Navios Herakles I (6)	Kamsarmax	2019		82,036	$	19,016		No	Sep-24
					$	16,213		No	Mar-25
						—		~~113~~106.50% average ~~BPI~~BCI 825TC	~~Nov~~Jul-2426
Navios Magellan II (6)	Kamsarmax	2020		82,037	$	17,934		No	Sep-24
Navios Pollux (5)	Capesize	2009		180,727		—		102.5% average BCI 5TC	Apr-25
						—		112.0% average BPI 82	Nov-24
Navios Felix (23)	Capesize	2016		181,221	$	28,500	(20)	No	Jan-27
Navios Sky (5)	Kamsarmax	2015		82,056		—		105.0 % average BPI 82	Sep-24
Navios Corali (23)	Capesize	2015		181,249	$	21,779		No	Dec-24
Navios Harmony (15)	Kamsarmax	2006		82,790	$	15,400		No	Oct-24
						—		131.0% average BCI 5TC	Feb-25
Navios Alegria (23)	Kamsarmax	2016		84,852	$	14,197		No	Oct-24
Navios Mars	Capesize	2016		181,259	$	30,278		No	Dec-24
Navios Sphera	Kamsarmax	2016		84,872	$	18,831		No	Sep-24
						—		128.0% average BCI 5TC	Feb-25
						—		110.0% of average BPI 82	Oct-25
Navios Gem	Capesize	2014		181,336	$	31,634		No	Dec-24
Navios Coral	Kamsarmax	2016		84,904	$	19,096		No	Sep-24
						—		125.0% average BCI 5TC	Apr-26
						—		110.0% average BPI 82	Nov-24
Navios Joy	Capesize	2013		181,389		—		Freight Voyages	Aug-25
Navios Citrine	Kamsarmax	2017		81,626		—		110.0% average BPI 82	Nov-24
Navios Koyo	Capesize	2011		181,415	$	28,500		No	Dec-24
Navios Dolphin	Kamsarmax	2017		81,630	$	14,013		No	Jan-25
					$	18,833		No	Mar-25
					$	15,200		No	Dec-25
						—		118.0% average BCI 5TC	Jan-26
Navios Azalea (6)	Capesize	2022		182,064	$	19,950		No	Nov-27
Navios Armonia (6)	Capesize	2022		182,079	$	20,750		No	Sep-27
Navios Altair (6)	Capesize	2023		182,115	$	19,600		No	Nov-27
Navios Sakura (6)	Capesize	2023		182,169	$	19,550		No	Mar-28
Navios Amethyst (6)	Capesize	2023		182,212	$	19,550		No	Feb-28
Navios Astra (14)	Capesize	2022		182,393	$	21,000		No	Aug-27

Copernicus N	Post-Panamax		2010	93,062			$	12,208				No	Sep-24
Owned Containerships	Capacity(TEU)			Built	Charter-OutRate(1)				Index(2)		ExpirationDate(3)
Navios Stellar (5)	Capesize		2009	169,001				—				97.0% average BCI 5TC	Jun-26
Spectrum N		2,546		2009	$	36,538			No		Mar-25
Navios Aurora II	Capesize		2009	169,031				—				99.0% average BCI 5TC	Jan-25
Protostar N		2,741		2007	$	11,700			No		Aug-25
Navios Antares (5)	Capesize		2010	169,059				—				100.0% average BCI 5TC	Feb-25
Fleur N		2,782		2012	$	19,009			No		May-26
Navios Symphony	Capesize		2010	178,132				—				102.75% average BCI 5TC	Apr-26
Ete N		2,782		2012	$	19,009			No		May-26
Navios Ace (5)	Capesize		2011	179,016			$	25,472				No	Sep-24
Navios Summer (5)		3,450		2006	$	30,320			No		May-25
								—				107.25% average BCI 5TC	Feb-25
					$	20,845			No		May-26
Navios Melodia	Capesize		2010	179,132				—				104.0% average BCI 5TC	Apr-26
					$	34,110			No		Jul-26
Navios Luz	Capesize		2010	179,144				—				105.5% average BCI 5TC	Oct-25
Navios Verano (5)		3,450		2006	$	18,818			No		Apr-26
Navios Altamira	Capesize		2011	179,165			$	25,514				No	Sep-24
Matson Lanai (5)		4,250		2007	$	55,794			No		Jun-25
								—				107.0% average BCI 5TC	Mar-25
					$	34,563			No		Sep-27
Navios Azimuth (23)	Capesize		2011	179,169			$	24,115				No	Sep-24
Navios Verde (5)		4,250		2007	$	21,725			No		May-25
								—				105.0% average BCI 5TC	Feb-25
					$	35,056			No		Jun-27
Navios Etoile	Capesize		2010	179,234			$	23,940				No	Sep-24
Navios Amarillo (5)		4,250		2007	$	63,956			No		Jan-25
								—				105.0% average BCI 5TC	Feb-25
					$	28,425			No		Jan-26
Navios Buena Ventura	Capesize		2010	179,259			$	23,342				No	Dec-24
					$	9,475			No		Jan-28
								—				105.0% average BCI 5TC	Feb-25
Navios Vermilion (5)		4,250		2007	$	23,972			No		Nov-24
Navios Bonheur	Capesize		2010	179,259				—				104.0% average BCI 5TC	Jan-25
					$	28,763			No		Mar-27
Navios Fulvia	Capesize		2010	179,263			$	26,184				No	Sep-24
Navios Azure		4,250		2007	$	20,748			No		Apr-26
								—				105.0% average BCI 5TC	Feb-25
Navios Indigo (5)		4,250		2007	$	34,125			No		Apr-25
Navios Aster	Capesize		2010	179,314			$	23,495				No	Dec-24
					$	24,375			No		Apr-26
Navios Ray (5)	Capesize		2012	179,515			$	24,040				No	Sep-24
					$	41,438			No		Aug-26
							$	27,731				No	Dec-24
Navios Domino (5)		4,250		2008	$	23,453			No		Aug-25
								—				105.0% average BCI 5TC	Jan-25
					$	35,550			No		Sep-27
Navios Happiness	Capesize		2009	180,022			$	22,626				No	Dec-24
Matson Oahu (5)		4,250		2008	$	19,701			No		Dec-24
								—				109.0% average BCI 5TC	Apr-25
					$	34,563			No		Jan-28
Navios Bonavis (5)	Capesize		2009	180,022				—				103.0% average BCI 5TC	Apr-26
Navios Tempo		4,250		2009	$	44,438			No		Sep-25
Navios Phoenix (5)	Capesize		2009	180,242			$	22,765				No	Dec-24
Navios Destiny (5)		4,250		2009	$	28,763			No		Feb-27
								—				100.0% average BCI5TC + $1,905 per day	Aug-26
Navios Devotion (5)		4,250		2009	$	34,125			No		Mar-25
Navios Fantastiks (5)	Capesize		2005	180,265			$	17,575				No	Jun-26
					$	24,375			No		Mar-26
Navios Sol (5)	Capesize		2009	180,274				—				108.0% average BCI 5TC	Jun-26
					$	41,438			No		Jul-26
Navios Canary (23)	Capesize		2015	180,528			$	29,213				No	Sep-24
Navios Lapis		4,250		2009	$	25,000			No		Jun-26
								—				125.0% average BCI 5TC	Jan-25
Navios Dorado		4,250		2010	$	24,441			No		May-26
Navios Lumen (5)	Capesize		2009	180,661			$	26,031				No	Sep-24
Carmel I		4,360		2010	$	32,689			No		Apr-25
					$	23,214	$	~~28,397~~	No		Apr-26	No	~~Dec-24~~
								—				106.0% average BCI 5TC	Jul-26
					$	39,795			No		Jun-26
Navios Pollux (5)	Capesize		2009	180,727				—				102.5% average BCI 5TC	Apr-25
Zim Baltimore		4,360		2010	$	34,125			No		Jan-25
Navios Felix (23)	Capesize		2016	181,221			$	28,500		(20)		No	Jan-27
					$	24,375			No		Jan-26
Navios Corali (23)	Capesize		2015	181,249			$	21,779				No	Dec-24
					$	41,438			No		May-26
Navios Mars	Capesize		2016	181,259			$	30,278				No	Dec-24
Navios Bahamas		4,360		2010	$	48,000			No		Apr-25
								—				128.0% average BCI 5TC	Feb-25
					$	22,500			No		Jun-27
Navios Gem	Capesize		2014	181,336			$	31,634				No	Dec-24
Navios Miami		4,563		2009	$	28,763			No		Feb-27
								—				125.0% average BCI 5TC	Apr-26
Navios Magnolia		4,730		2008	$	28,763			No		Feb-26
Navios Joy	Capesize		2013	181,389				—				Freight Voyages	Aug-25
Navios Jasmine		4,730		2008	$	48,000			No		Mar-25
Navios Koyo	Capesize		2011	181,415			$	28,500				No	Dec-24
					$	22,500			No		May-27
								—				118.0% average BCI 5TC	Jan-26
Navios Chrysalis		4,730		2008	$	23,453			No		Jun-25
Navios Azalea (6)	Capesize		2022	182,064			$	19,950				No	Nov-27
					$	35,056			No		Jul-27
Navios Armonia (6)	Capesize		2022	182,079			$	20,750				No	Sep-27
Navios Nerine		4,730		2008	$	28,763			No		Aug-26
Navios Altair (6)	Capesize		2023	182,115			$	19,600				No	Nov-27
Sparrow		5,300		2023	$	39,000			No		Nov-25
Navios Sakura (6)	Capesize		2023	182,169			$	19,550				No	Mar-28
					$	37,050			No		Nov-26
Navios Amethyst (6)	Capesize		2023	182,212			$	19,550				No	Feb-28
					$	35,100			No		Nov-27
Navios Astra (14)	Capesize		2022	182,393			$	21,000				No	Aug-27
					$	31,200			No		Nov-28
					$	37,050			No		Jan-29
Zim Eagle		5,300		2024	$	42,900			No		Jan-25
					$	39,000			No		Jan-26
					$	37,050			No		Jan-27
					$	35,100			No		Jan-28
					$	31,200			No		Jan-29
					$	37,050			No		Mar-29

Owned Containerships	Capacity(TEU)		Built	Charter-OutRate(1)		Index(2)	ExpirationDate(3)
Zim Condor		5,300	2024	$	42,900	No	Apr-25
Spectrum N		2,546	2009	$	36,538	No	Mar-25
				$	39,000	No	Apr-26
Protostar N		2,741	2007	$	11,700	No	Aug-25
				$	37,050	No	Apr-27
Fleur N		2,782	2012	$	19,009	No	May-26
				$	35,100	No	Apr-28
Ete N		2,782	2012	$	19,009	No	May-26
				$	31,200	No	Apr-29
Navios Summer (5)		3,450	2006	$	30,320	No	May-25
				$	37,050	No	Jun-29
				$	20,845	No	May-26
Zim Hawk		5,300	2024	$	42,900	No	Jun-25
				$	3439,~~110~~000	No	~~Jul~~Jun-26
Navios Verano (5)		3,450	2006	$	18,818	No	Apr-26
				$	37,050	No	Jun-27
Matson Lanai (5)		4,250	2007	$	55,794	No	Jul-25
				$	35,100	No	Jun-28
Navios Verde (5)		4,250	2007	$	21,725	No	Apr-25
				$	31,200	No	Jun-29
Navios Amarillo (5)		4,250	2007	$	63,956	No	Jan-25
				$	37,050	No	Aug-29
				$	28,425	No	Jan-26
Zim Falcon		5,300	2024	$	42,900	No	Jul-25
				$	939,~~475~~000	No	~~Jan~~Jul-2826
Navios Vermilion (5)		4,250	2007	$	23,972	No	Nov-24
				$	37,050	No	Jul-27
				$	2835,~~763~~100	No	~~Mar~~Jul-2728
Navios Azure		4,250	2007	$	20,748	No	Apr-26
				$	31,200	No	Jul-29
Navios Indigo (5)		4,250	2007	$	34,125	No	Apr-25
				$	37,050	No	Sep-29
				$	24,375	No	Apr-26
Zim Pelican		5,300	2024	$	42,900	No	Jul-25
				$	4139,~~438~~000	No	~~Aug~~Jul-26
Navios Domino (5)		4,250	2008	$	23,453	No	Sep-25
				$	37,050	No	Jul-27
Matson Oahu (5)		4,250	2008	$	19,701	No	Oct-24
				$	35,100	No	Jul-28
Navios Tempo		4,250	2009	$	44,438	No	Sep-25
				$	31,200	No	Jul-29
Navios Destiny (5)		4,250	2009	$	23,972	No	Oct-24
				$	37,050	No	Sep-29
				$	28,763	No	Feb-27
Zim Seagull (23)		5,300	2024	$	42,900	No	Aug-25
Navios Devotion (5)		4,250	2009	$	34,125	No	Mar-25
				$	39,000	No	Aug-26
				$	2437,~~375~~050	No	~~Mar~~Aug-2627
				$	4135,~~438~~100	No	~~Jul~~Aug-2628
Navios Lapis		4,250	2009	$	25,000	No	Jun-26
				$	31,200	No	Aug-29
Navios Dorado		4,250	2010	$	21,676	No	Sep-24
				$	37,050	No	Oct-29
				$	24,441	No	May-26
Navios Utmost(5)		5,300	2024	$	37,500	No	Apr-30
Carmel I		4,360	2010	$	32,689	No	Apr-25
Hyundai Shanghai		6,800	2006	$	21,083	No	Aug-29
				$	23,214	No	Apr-26
Hyundai Tokyo		6,800	2006	$	21,083	No	Dec-28
				$	39,795	No	Jun-26
Hyundai Hongkong		6,800	2006	$	21,083	No	Dec-28
Zim Baltimore		4,360	2010	$	34,125	No	Jan-25
Hyundai Singapore		6,800	2006	$	21,083	No	Dec-28
				$	24,375	No	Jan-26
Hyundai Busan		6,800	2006	$	21,083	No	Aug-29
				$	41,438	No	May-26
Navios Unison (5)		10,000	2010	$	26,276	No	Jun-26
Navios Bahamas		4,360	2010	$	48,000	No	Apr-25
Navios Constellation (5)		10,000	2011	$	26,276	No	Jun-26
				$	22,500	No	Jun-27
Navios Miami		4,563	2009	$	23,972	No	Oct-24
				$	28,763	No	Feb-27
Navios Magnolia		4,730	2008	$	23,972	No	Oct-24
				$	28,763	No	Feb-26
Navios Jasmine		4,730	2008	$	48,000	No	Mar-25
				$	22,500	No	May-27
Navios Chrysalis		4,730	2008	$	23,453	No	Jun-25
Navios Nerine		4,730	2008	$	23,972	No	Sep-24
				$	28,763	No	Aug-26
Sparrow		5,300	2023	$	42,900	No	Nov-24
				$	39,000	No	Nov-25
				$	37,050	No	Nov-26
				$	35,100	No	Nov-27
				$	31,200	No	Nov-28
				$	37,050	No	Jan-29
Zim Eagle		5,300	2024	$	42,900	No	Jan-25
				$	39,000	No	Jan-26
				$	37,050	No	Jan-27
				$	35,100	No	Jan-28
				$	31,200	No	Jan-29

						$	37,050			No		Mar-29
Owned Tanker Vessels	Type		Built	Capacity(DWT)				Charter-OutRate(1)					Profit SharingArrangements	ExpirationDate(3)
Zim Condor		5,300			2024	$	42,900			No		Apr-25
Hector N	MR1 Product Tanker		2008		38,402			$	20,738				No	Jan-26
						$	39,000			No		Apr-26
Nave Aquila (5)	MR2 Product Tanker		2012		49,991			$	27,156				No	Aug-26
						$	37,050			No		Apr-27
Nave Atria (5)	MR2 Product Tanker		2012		49,992			$	14,887				No	Mar-25
						$	35,100			No		Apr-28
Nave Capella	MR2 Product Tanker		2013		49,995			$	22,138				No	Jan-25
						$	~~31,200~~	$	24,544	No		~~Apr-29~~	No	Jan-28
						$	37,050			No		Jun-29
Nave Alderamin	MR2 Product Tanker		2013		49,998			$	22,138				No	Nov-24
Zim Hawk		5,300			2024	$	42,900			No		Jun-25
								$	24,544				No	Nov-27
						$	39,000			No		Jun-26
Nave Pyxis	MR2 Product Tanker		2014		49,998			$	25,891				No	Jan-25
						$	37,050			No		Jun-27
Nave Bellatrix (5)	MR2 Product Tanker		2013		49,999			$	19,750				No	Aug-25
						$	35,100			No		Jun-28
Nave Orion (5)	MR2 Product Tanker		2013		49,999			$	22,138				No	Dec-24
						$	~~31,200~~	$	24,544	No		~~Jun-29~~	No	Dec-27
						$	37,050			No		Aug-29
Nave Titan	MR2 Product Tanker		2013		49,999			$	25,891				No	Feb-25
Zim Falcon		5,300			2024	$	42,900			No		Jul-25
Nave Luminosity	MR2 Product Tanker		2014		49,999			$	23,004		(10)		No	Dec-25
						$	39,000			No		Jul-26
Nave Jupiter	MR2 Product Tanker		2014		49,999			$	21,231				No	Oct-28
						$	37,050			No		Jul-27
Nave Velocity	MR2 Product Tanker		2015		49,999			$	16,541		(11)		No	Dec-25
						$	35,100			No		Jul-28
Nave Sextans	MR2 Product Tanker		2015		49,999			$	23,196		(10)		No	May-26
						$	31,200			No		Jul-29
Nave Equinox	MR2 Product Tanker		2007		50,922			$	20,392		(8)		No	Dec-24
						$	37,050			No		Sep-29
Nave Pulsar	MR2 Product Tanker		2007		50,922			$	21,231		(8)		No	Sep-25
Zim Pelican		5,300			2024	$	42,900			No		Jul-25
Bougainville	MR2 Product Tanker		2013		50,626			$	21,800		(7)		No	Oct-26
						$	39,000			No		Jul-26
Nave Cetus	LR1 Product Tanker		2012		74,581			$	32,094				No	Jul-25
						$	37,050			No		Jul-27
Nave Ariadne	LR1 Product Tanker		2007		74,671			Floating Rate			(12)		No	Feb-25
						$	35,100			No		Jul-28
Nave Cielo	LR1 Product Tanker		2007		74,671			$	28,144				No	Sep-25
						$	31,200			No		Jul-29
Nave Rigel	LR1 Product Tanker		2013		74,673			$	27,008				No	Mar-29
						$	37,050			No		Sep-29
Nave Atropos	LR1 Product Tanker		2013		74,695			$	27,650				No	May-25
Zim Seagull (23)		5,300			2024	$	42,900			No		Aug-25
Nave Cassiopeia	LR1 Product Tanker		2012		74,711			$	33,150		(13)		No	Jan-25
						$	39,000			No		Aug-26
Nave Andromeda	LR1 Product Tanker		2011		75,000			$	28,394				No	Mar-25
						$	37,050			No		Aug-27
Nave Estella	LR1 Product Tanker		2012		75,000			$	28,394				No	Jan-25
						$	35,100			No		Aug-28
Nave Cosmos (23)	Aframax / LR2		2024		115,651			$	26,366		(21)		No	May-29
						$	31,200			No		Aug-29
Nave Polaris (5)	Aframax / LR2		2024		115,699			$	26,366		(21)		No	Aug-29
						$	37,050			No		Oct-29
Nave Photon (23)	Aframax / LR2		2024		115,752			$	25,576		(21)		No	Oct-29
Hyundai Shanghai		6,800			2006	$	21,083			No		Aug-29
Nave Constellation	VLCC		2010		296,988			Floating Rate			(12)		No	Mar-25
Hyundai Tokyo		6,800			2006	$	21,083			No		Dec-28
Nave Universe	VLCC		2011		297,066			$	45,672				No	May-26
Hyundai Hongkong		6,800			2006	$	21,083			No		Dec-28
Nave Galactic	VLCC		2009		297,168			$	44,438				No	Sep-26
Hyundai Singapore		6,800			2006	$	21,083			No		Dec-28
Nave Quasar	VLCC		2010		297,376			Floating Rate			(12)		No	Mar-25
Hyundai Busan		6,800			2006	$	21,083			No		Aug-29
Nave Buena Suerte	VLCC		2011		297,491			$	47,906				Yes (16)	Dec-24
Navios Unison (5)		10,000			2010	$	26,276			No		Jun-26
Nave Synergy	VLCC		2010		299,973			Freight voyage					—	Nov-24
Navios Constellation (5)		10,000			2011	$	26,276			No		Jun-26


Bareboat-in Vessels	Type	Built	Capacity (DWT)		Charter-Out Rate(1)			Index(2)	Expiration Date(3)
Navios Star	Kamsarmax	2021		81,994	$	16,101		No	Dec-24
					$	13,729		No	Mar-25
						—		112.0% average BPI 82	Apr-25
Navios Amitie	Kamsarmax	2021		82,002	$	18,688		No	Dec-24
					$	14,161		No	Mar-25
						—		112% of average BPI 82	Apr-25
Navios Libra	Kamsarmax	2019		82,011		—		111.25% average BPI 82	Jan-26
Nave Electron	VLCC	2021		313,239	$	47,906		Yes (16)	Jan-26
Nave Celeste (24)	VLCC	2022		313,418	Floating rate			Yes (4)	Jul-29
Baghdad (24)	VLCC	2020		313,433	$	27,816	(17)	No	Sep-30
Erbil (24)	VLCC	2021		313,486	$	27,816	(17)	No	Feb-31

Owned Tanker Vessels	Type	Built	Capacity(DWT)		Charter-OutRate(1)			Profit SharingArrangements	ExpirationDate(3)
Chartered-in Vessels	Type	Built	Capacity(DWT)		Charter-OutRate(1)			Index(2)	ExpirationDate(3)
Hector N	MR1 Product Tanker	2008		38,402	$	20,738		No	Dec-25
Navios Venus (19)	Ultra-Handymax	2015		61,339		—		111.0% average BSI 58 10TC	Dec-24
Nave Aquila (5)	MR2 Product Tanker	2012		49,991	$	27,156		No	Aug-26
Navios Gemini	Kamsarmax	2018		81,704	$	15,881		No	Nov-24
Nave Atria (5)	MR2 Product Tanker	2012		49,992	$	14,887		No	Mar-25
Nave Capella	MR2 Product Tanker	2013		49,995	$	22,138		No	Jan-25
Nave Alderamin	MR2 Product Tanker	2013		49,998	$	22,138		No	Nov-24
Nave Pyxis	MR2 Product Tanker	2014		49,998	$	25,891		No	Jan-25
Nave Bellatrix (5)	MR2 Product Tanker	2013		49,999	$	19,750		No	Aug-25
Nave Orion (5)	MR2 Product Tanker	2013		49,999	$	22,138		No	Dec-24
Nave Titan	MR2 Product Tanker	2013		49,999	$	25,891		No	Feb-25
Nave Luminosity	MR2 Product Tanker	2014		49,999	$	23,004	(10)	No	Dec-25
Nave Jupiter	MR2 Product Tanker	2014		49,999	$	21,231		No	Oct-28
Nave Velocity	MR2 Product Tanker	2015		49,999	$	15,553	(11)	No	Oct-24
Nave Sextans	MR2 Product Tanker	2015		49,999	$	23,196	(10)	No	May-26
Nave Equinox	MR2 Product Tanker	2007		50,922	$	20,392	(8)	No	Dec-24
Nave Pulsar	MR2 Product Tanker	2007		50,922	$	21,231	(8)	No	Sep-25
Nave Orbit (15)	MR2 Product Tanker	2009		50,470	$	15,306		No	Oct-24
Nave Equator (15)	MR2 Product Tanker	2009		50,542	Freight Voyage			No	Sep-24
Bougainville	MR2 Product Tanker	2013		50,626	$	21,800	(7)	No	Oct-26
Nave Cetus	LR1 Product Tanker	2012		74,581	$	32,094		No	Jul-25
Nave Ariadne	LR1 Product Tanker	2007		74,671	Floating Rate		(12)	No	Dec-24
Nave Cielo	LR1 Product Tanker	2007		74,671	$	28,144		No	Sep-25
Nave Rigel	LR1 Product Tanker	2013		74,673	$	27,008		No	Mar-29
Nave Atropos	LR1 Product Tanker	2013		74,695	$	21,971		No	Oct-24
					$	27,650		No	Apr-25
Nave Cassiopeia	LR1 Product Tanker	2012		74,711	$	33,150	(13)	No	Jan-25
Nave Andromeda	LR1 Product Tanker	2011		75,000	$	28,394		No	Mar-25
Nave Estella	LR1 Product Tanker	2012		75,000	$	28,394		No	Dec-24
Nave Cosmos (23)	Aframax / LR2	2024		115,651	$	26,366	(21)	No	May-29
Nave Polaris (5)	Aframax / LR2	2024		115,699	$	26,366	(21)	No	Aug-29
Nave Constellation	VLCC	2010		296,988	Floating Rate		(12)	No	Dec-24
Nave Universe	VLCC	2011		297,066	Scheduled Repairs			—	Sep-24
					$	45,672		No	May-26
Nave Galactic	VLCC	2009		297,168	Scheduled Repairs			—	—
Nave Quasar	VLCC	2010		297,376	Floating Rate		(12)	No	Dec-24
Nave Buena Suerte	VLCC	2011		297,491	$	47,906		Yes (16)	Jun-25
Nave Synergy	VLCC	2010		299,973	Scheduled Repairs			—	—

Bareboat-in Vessels	Type	Built		Capacity(DWT)				Charter-OutRate(1)			Index(2)		ExpirationDate(3)
Containerships to be Delivered	ExpectedDelivery	Capacity(TEU)				Charter-Out Rate(1)				Index(2)	ExpirationDate(3)
Navios Star	Kamsarmax	2021			81,994				—		112.0% average BPI 82		Apr-25
TBN I (23)	Q4 2024		5,300			$	42,900			No	Nov-25
Navios Amitie	Kamsarmax	2021			82,002			$	19,443		No		Sep-24
						$	39,000			No	Nov-26
						$	37,050	$	~~18,688~~	No	NoNov-27		~~Dec-24~~
									—		112% of average BPI 82		Apr-25
						$	35,100			No	Nov-28
Navios Libra	Kamsarmax	2019			82,011			Scheduled Repairs				—		—
						$	31,200			No	Nov-29
Nave Electron	VLCC	2021			313,239			$	47,906		Yes (16)		Jan-26
						$	37,050			No	Jan-30
Nave Celeste (24)	VLCC	2022			313,418			Floating rate			Yes (4)		Jul-29
TBN II (5)	Q4 2024		5,300			$	37,500			No	May-30
Baghdad (24)	VLCC	2020			313,433			$	27,816	(17)	No		Sep-30
TBN VI	H1 2025		7,700			$	57,213			No	Jan-28
Erbil (24)	VLCC	2021			313,486			$	27,816	(17)	No		Feb-31
						$	52,238			No	Jan-31
						$	37,313			No	Jan-33
						$	27,363			No	Jan-35
						$	24,875		(22)	No	Jan-37
TBN VII	H1 2025		7,700			$	57,213			No	Jan-28
						$	52,238			No	Jan-31
						$	37,313			No	Jan-33
						$	27,363			No	Jan-35
						$	24,875		(22)	No	Jan-37
TBN XX	H2 2026		7,900			$	43,000		(25)	No	Jul-30
TBN XXI	H2 2026		7,900			$	43,000		(25)	No	Oct-30
TBN XXVI	H1 2027		7,900			$	43,247			No	Jan-32
TBN XXVII	H1 2027		7,900			$	43,247			No	Mar-32

Chartered-in Vessels	Type	Built	Capacity(DWT)		Charter-OutRate(1)			Index(2)	ExpirationDate(3)
Tanker Vesselsto be Delivered	Type	ExpectedDelivery	Capacity(DWT)		Charter-OutRate(1)			ExpirationDate(3)
Navios Venus (19)	Ultra-Handymax	2015		61,339		—		111.0% average BSI 58 10TC	Nov-24
TBN III (5)	Aframax / LR2	H1 2025		115,000	$	25,576	(21)	Jan-30
Navios Gemini	Kamsarmax	2018		81,704	$	15,881		No	Nov-24
TBN IV (5)	Aframax / LR2	H1 2025		115,000	$	27,798	(21)	Apr-30
TBN V	Aframax / LR2	H1 2025		115,000	$	27,798	(21)	Jun-30
TBN XIV	Aframax / LR2	H1 2026		115,000	$	27,788	(9)	Mar-31
TBN XV	Aframax / LR2	H1 2026		115,000	$	27,788	(9)	May-31
TBN XVI	Aframax / LR2	H1 2026		115,000	$	27,776	(18)	Mar-31
TBN XVII	Aframax / LR2	H2 2026		115,000	$	27,776	(18)	Jun-31
TBN XVIII	Aframax / LR2	H1 2027		115,000	$	28,275	(26)	May-32
TBN XIX	Aframax / LR2	H2 2027		115,000	$	28,275	(26)	Oct-32
TBN XXII	Aframax / LR2	H2 2027		115,000	$	27,776	(18)	May-32
TBN XXIII	Aframax / LR2	H2 2027		115,000	$	27,776	(18)	Sep-32
TBN XXIV	Aframax / LR2	H1 2028		115,000	$	28,144	(15)	Mar-33
TBN XXV	Aframax / LR2	H1 2028		115,000	$	28,144	(15)	Apr-33
TBN VIII (6)	MR2 Product Tanker	H2 2025		52,000	$	22,959		Nov-30
TBN IX (6)	MR2 Product Tanker	H1 2026		52,000	$	22,959		May-31
TBN X (6)	MR2 Product Tanker	H2 2026		52,000		—		—
TBN XI (6)	MR2 Product Tanker	H2 2026		52,000		—		—
TBN XII (6)	MR2 Product Tanker	H1 2027		52,000		—		—
TBN XIII (6)	MR2 Product Tanker	H1 2027		52,000		—		—

(1)

Containerships to be Delivered	ExpectedDelivery	Capacity(TEU)		Charter-Out Rate(1)			Index(2)	ExpirationDate(3)
TBN I (23)	H2 2024		5,300	$	42,900		No	Nov-25
				$	39,000		No	Nov-26
				$	37,050		No	Nov-27
				$	35,100		No	Nov-28
				$	31,200		No	Nov-29
				$	37,050		No	Jan-30
TBN II (5)	H2 2024		5,300	$	37,500		No	Mar-30
TBN III (5)	H2 2024		5,300	$	37,500		No	Apr-30
TBN VIII	H2 2024		7,700	$	57,213		No	Dec-27
				$	52,238		No	Dec-30
				$	37,313		No	Dec-32
				$	27,363		No	Dec-34
				$	24,875	(22)	No	Dec-36
TBN IX	H1 2025		7,700	$	57,213		No	Jan-28
				$	52,238		No	Jan-31
				$	37,313		No	Jan-33
				$	27,363		No	Jan-35
				$	24,875	(22)	No	Jan-37
TBN XXII	H2 2026		7,900	$	43,000	(25)	No	Jul-30
TBN XXIII	H2 2026		7,900	$	43,000	(25)	No	Oct-30

Tanker Vesselsto be Delivered	Type	ExpectedDelivery	Capacity(DWT)		Charter-OutRate(1)			ExpirationDate(3)
TBN IV (23)	Aframax / LR2	H2 2024		115,000	$	25,576	(21)	Oct-29
TBN V (5)	Aframax / LR2	H2 2024		115,000	$	25,576	(21)	Dec-29
TBN VI (5)	Aframax / LR2	H1 2025		115,000	$	27,798	(21)	Mar-30
TBN VII	Aframax / LR2	H1 2025		115,000	$	27,798	(21)	Jun-30
TBN XVI	Aframax / LR2	H1 2026		115,000	$	27,788	(9)	Mar-31
TBN XVII	Aframax / LR2	H1 2026		115,000	$	27,788	(9)	May-31
TBN XVIII	Aframax / LR2	H1 2026		115,000	$	27,776	(18)	Mar-31
TBN XIX	Aframax / LR2	H2 2026		115,000	$	27,776	(18)	Jun-31
TBN XX	Aframax / LR2	H1 2027		115,000	$	28,275	(26)	May-32
TBN XXI	Aframax / LR2	H2 2027		115,000	$	28,275	(26)	Oct-32
TBN XXIV	Aframax / LR2	H2 2027		115,000	$	27,776	(18)	May-32
TBN XXV	Aframax / LR2	H2 2027		115,000	$	27,776	(18)	Sep-32
TBN XXVI	Aframax / LR2	H1 2028		115,000	$	28,144	(27)	Mar-33
TBN XXVII	Aframax / LR2	H1 2028		115,000	$	28,144	(27)	Apr-33
TBN X (6)	MR2 Product Tanker	H2 2025		52,000	$	22,959		Nov-30
TBN XI (6)	MR2 Product Tanker	H1 2026		52,000	$	22,959		May-31
TBN XII (6)	MR2 Product Tanker	H2 2026		52,000		—		—
TBN XIII (6)	MR2 Product Tanker	H2 2026		52,000		—		—
TBN XIV (6)	MR2 Product Tanker	H1 2027		52,000		—		—
TBN XV (6)	MR2 Product Tanker	H1 2027		52,000		—		—

Daily charter-out rate per day, net of commissions.

(2)

Index rates exclude commissions.

(3)

Estimated dates assuming the midpoint or Company’s estimate of the redelivery period by charterers.

(4)

Bareboat charter based on adjusted TD3C-WS with floor $26,730 and collar at $36,630.

(5)

The vessel is subject to a sale and leaseback transaction with a purchase obligation at the end of the lease term.

(6)

The vessel is subject to a bareboat contract with a purchase option at the end of the contract.

(7)

Charterer’s option to extend charter for one year at $24,900 net per day.

(8)

The premium for when the vessel is trading on ice or follow ice breaker is $1,481 per day.

(9)

Charterer’s option to extend the charter for one year at $29,738 net per day plus one year at $31,200 net per day.

(10)

Charterer’s option to extend the charter for one year at $27,913 net per day.

(11)

Charterer’s option to extend the charter for one year at $~~16,540 net per day plus one year at $~~17,528 net per day.

(12)

Rate based on pool earnings.

(13)

Charterer’s option to extend the charter for one year at $40,950 net per day.

(14)

The vessel is subject to a bareboat contract with a purchase obligation at the end of the contract.

(15)

~~Vessel~~Charterer’s ~~has~~option ~~been~~for ~~agreed~~a firm period of five years at $28,144 net per day or three years at $35,056 net per day, declarable six months prior to bethe ~~sold~~vessels’ delivery.

(16)

Profit sharing arrangement of 35% above $54,388, 40% above $59,388 and 50% above $69,388.

(17)

Charterer’s option to extend the bareboat charter for five years at $29,751 net per day.

(18)

Charterer’s option to extend the charter for one year at $29,628 net per day plus one year at $31,578 net per day.

(19)

The vessel is subject to a charter-in agreement with a purchase option at the end of the agreement, classified as a finance lease. Option to acquire the vessel has been declared.

(20)

Charterer’s option to extend the charter for a minimum of 11 to a maximum of 15 months at $33,250 net per day.

(21)

Charterer has the option to extend for five further one-year options at rates increasing by $1,234 net per day each year.

(22)

Charterer’s option to extend charter for two years at $24,875 net per day.

(23)

The vessel is subject to a sale and leaseback transaction with a purchase option at the end of the lease term.

(24)

The vessel is subject to a bareboat charter-out contract.

(25)

Charterer’s option to extend charter for two years at $47,500 net per day.

(26)

Charterer’s option for a firm period of five years at $28,275 net per day or three years at $34,613 net per day, declarable six months prior to the vessels’ delivery.

~~Charterer’s option for a firm period of five years at $28,144 net per day or three years at $35,056 net per day, declarable six months prior to the vessels’ delivery.~~9

Our Charters

We provide seaborne shipping services under short, medium, and long-term time charters, bareboat charters and voyage charters with customers that we believe are creditworthy. For ~~each of~~ the ~~six~~nine month ~~periods~~period ended ~~June~~September 30, 2024, ~~and~~ZIM Integrated Shipping Services Ltd. represented approximately 10.3% of our total revenues. For the nine month period ended September 30, 2023, no customer accounted for 10.0% or more of our total revenues. No other customers accounted for 10.0% or more of our total revenues for any of the periods presented.

Our revenues are driven by the number of vessels in the fleet, the number of days during which the vessels operate and our charter hire rates, which, in turn, are affected by a number of factors, including:

•

the duration of the charters;

•

the level of spot and long-term market rates at the time of charters;

•

decisions relating to vessel acquisitions and disposals;

•

the amount of time spent positioning vessels;

•

the amount of time that vessels spend in drydock undergoing repairs and upgrades;

•

the age, condition and specifications of the vessels;

•

the aggregate level of supply and demand in the liquid, dry and containerized cargo shipping industry;

•

economic conditions, such as the impact of inflationary cost pressures, decreased consumer discretionary spending, increasing interest rates, and the possibility of recession or financial market instability;

•

armed conflicts, such as Israel’s war in Gaza, Russian/Ukrainian conflicts and the attacks in the Red Sea and in the Gulf of Aden; and

•

the outbreak of global epidemics or pandemics.

Time charters are available for varying periods, ranging from a single trip (spot charter) to long-term which may be many years. In general, a long-term time charter assures a consistent stream of revenue to the vessel owner. Operating the vessel in the spot market affords the owner greater spot market opportunity, which may result in high rates when vessels are in high demand or low rates when vessel availability exceeds demand. We intend to operate our vessels in the long-term charter market. Vessel charter rates are affected by world economics, international events, weather conditions, strikes, governmental policies, supply and demand and many other factors that might be beyond our control. Please read the section entitled “Risk Factors” in our Annual Report for a discussion of certain risks inherent in our business.

We could lose a customer or the benefits of a charter if:

•

the customer fails to make charter payments because of its financial inability, disagreements with us or otherwise;

•

the customer exercises certain rights to terminate the charter of the vessel;

•

the customer terminates the charter because we fail to deliver the vessel within a fixed period of time, the vessel is lost or damaged beyond repair, there are serious deficiencies in the vessel or prolonged periods of off-hire, or we default under the charter; or

•

a prolonged force majeure event affecting the customer, including damage to or destruction of relevant production facilities, war or political unrest prevents us from performing services for that customer.

Under some of our time charters, either party may terminate the charter contract in the event of war in specified countries or in locations that would significantly disrupt the free trade of the vessel. Some of the time charters covering our vessels require us to return to the charterer, upon the loss of the vessel, all advances paid by the charterer but not earned by us.

Trends and Factors Affecting Our Future Results of Operations

We believe the principal factors that will affect our future results of operations are the economic, regulatory, political and governmental conditions that affect the shipping industry generally and that affect conditions in countries and markets in which our vessels engage in business. Please read “Risk Factors” in our Annual Report for a discussion of certain risks inherent in our business.

Results of Operations

Overview

The following table reflects certain key indicators of Navios Partners’ fleet performance for the three and ~~six~~nine month periods ended ~~June~~September 30, 2024 and 2023.

Three MonthPeriod EndedJune 30, 2024

Three MonthPeriod EndedJune 30, 2023

Six MonthPeriod EndedJune 30, 2024

Six MonthPeriod EndedJune 30, 2023

Three Month Period Ended September 30, 2024

Three Month Period Ended September 30, 2023

Nine Month Period Ended September 30, 2024

Nine Month Period Ended September 30, 2023

(unaudited)

Available Days(1)

13,~~498~~552

13,~~572~~759

2740,~~038~~590

2741,~~480~~239

Operating Days(2)

13,~~306~~371

13,~~474~~646

2640,~~751~~122

2740,~~223~~869

Fleet Utilization(3)

98.67

99.32

98.98

99.1

Time Charter Equivalent rate (per day)(4)

23,~~384~~591

2322,~~900~~052

22,~~448~~830

22,~~337~~242

Vessels operating at end of periods

~~151~~154

~~154~~153

~~151~~154

~~154~~153

(1)

Available days for the fleet represent total calendar days the vessels were in Navios Partners’ possession for the relevant period after subtracting off-hire days associated with scheduled repairs, drydockings or special surveys and ballast days relating to voyages. The shipping industry uses available days to measure the number of days in a relevant period during which a vessel is capable of generating revenues.

(2)

Operating days are the number of available days in the relevant period less the aggregate number of days that the vessels are off-hire due to any reason, including unforeseen circumstances. The shipping industry uses operating days to measure the aggregate number of days in a relevant period during which vessels actually generate revenues.

(3)

Fleet utilization is the percentage of time that Navios Partners’ vessels were available for generating revenue, and is determined by dividing the number of operating days during a relevant period by the number of available days during that period. The shipping industry uses fleet utilization to measure efficiency in finding employment for vessels and minimizing the amount of days that its vessels are off-hire for reasons other than scheduled repairs, drydockings or special surveys.

(4)

Time Charter Equivalent rate (“TCE rate”) per day is defined as voyage, time charter revenues and charter-out revenues under bareboat contracts (grossed up by the applicable fixed vessel operating expenses for the respective periods) less voyage expenses during a period divided by the number of available days during the period. The TCE rate per day is a customary shipping industry performance measure used primarily to present the actual daily earnings generated by vessels on various types of charter contracts for the number of available days of the fleet.

FINANCIAL HIGHLIGHTS

The following table presents consolidated revenue and expense information for the three and ~~six~~nine month periods ended ~~June~~September 30, 2024 and 2023.

	Three Month Period Ended June 30, 2024			Three Month Period Ended June 30, 2023			Six Month Period Ended June 30, 2024			Six Month Period Ended June 30, 2023
	Three Month Period Ended September 30, 2024			Three Month Period Ended September 30, 2023			Nine Month Period Ended September 30, 2024			Nine Month Period Ended September 30, 2023
	(unaudited)			(unaudited)			(unaudited)			(unaudited)
	(In thousands of U.S. dollars)
Time charter and voyage revenues	$	~~342~~340,~~155~~835		$	~~346~~323,~~938~~176		$	~~660~~1,~~710~~001,545		$	~~656~~979,~~460~~636
Time charter and voyage expenses		(4034,~~044~~941	)		(4139,~~956~~877	)		(81116,~~955~~896	)		(81121,~~719~~596	)
Direct vessel expenses		(18,~~916~~115	)		(1715,~~764~~941	)		(3654,~~469~~584	)		(3248,~~204~~145	)
Vessel operating expenses (entirely through related parties transactions)		(8588,~~271~~963	)		(82,~~550~~856	)		(~~170~~259,~~193~~156	)		(~~165~~248,~~766~~622	)
General and administrative expenses		(2021,~~584~~102	)		(2019,~~536~~524	)		(4162,~~328~~430	)		(4059,~~035~~559	)
Depreciation and amortization of intangible assets		(5657,~~314~~674	)		(54,~~037~~513	)		(~~111~~169,~~884~~558	)		(~~108~~162,~~255~~768	)
Amortization of unfavorable lease terms		3,~~171~~206			53,~~322~~521			69,~~307~~513			1216,~~910~~431
Gain on sale of vessels, net		71,~~256~~241			107,~~151~~170			910,~~133~~374			4350,~~601~~771
Interest expense and finance cost, net		(3032,~~087~~608	)		(3331,~~330~~849	)		(5992,~~496~~104	)		(68100,~~854~~703	)
Interest income		3,~~596~~394			23,~~483~~314			610,~~992~~386			47,~~100~~414
Other expense, net		(3,493	)		(2,413	)		(6,987	)		(8,765	)
Other income/ (expense), net		2,482			(2,840	)		(4,505	)		(11,605	)
Net income	$	~~101~~97,~~469~~755		$	~~112~~89,~~308~~781		$	~~174~~272,~~830~~585		$	~~211~~301,~~473~~254
EBITDA(1)	$	~~197~~196,~~008~~621		$	~~201~~180,~~601~~838		$	~~363~~559,~~163~~784		$	~~390~~571,~~437~~275
Adjusted EBITDA(1)	$	~~189~~195,~~752~~380		$	~~191~~173,~~450~~668		$	~~354~~549,~~030~~410		$	~~346~~520,~~836~~504
Operating Surplus (1)	$	9198,~~171~~558		$	9884,~~620~~924		$	~~157~~256,~~785~~343		$	~~164~~249,~~368~~292

(1)

EBITDA, Adjusted EBITDA and Operating Surplus are non-GAAP financial measures. See “Reconciliation of EBITDA and Adjusted EBITDA to Net Cash from Operating Activities, EBITDA and Operating Surplus” for a description of EBITDA, Adjusted EBITDA and Operating Surplus and a reconciliation of EBITDA, Adjusted EBITDA and Operating Surplus to the most comparable measure under U.S. GAAP.

Period over Period Comparisons

For the Three Month Period ended June 30, 2024 compared to the Three Month Period ended June 30, 2023

~~Time~~Period ~~charter~~over ~~and~~Period voyage revenues: Time charter and voyage revenues of Navios Partners for the three month period ended June 30, 2024 decreased by $4.7 million, or 1.4%, to $342.2 million, as compared to $346.9 million for the same period in 2023. The decrease in revenue was mainly attributable to the decrease in the available days of our fleet and the decrease in the TCE rate. For the three month periods ended June 30, 2024 and 2023, time charter and voyage revenues were positively affected by $2.4 million and negatively affected by $7.5 million, respectively, relating to the straight-line effect of the containership and tanker charters with de-escalating rates. For the three month period ended June 30, 2024, the TCE rate decreased by 2.2% to $23,384 per day, as compared to $23,900 per day for the same period in 2023. The available days of the fleet decreased by 0.5% to 13,498 days for the three month period ended June 30, 2024, as compared to 13,572 days for the same period in 2023 mainly due to the sale of vessels, partially mitigated by the deliveries of newbuilding and secondhand vessels.Comparisons

~~Time~~For ~~charter and voyage expenses: Time charter and voyage expenses for~~ the ~~three~~Three ~~month~~Month ~~period~~Period ended ~~June~~September 30, 2024 ~~decreased by $2.0 million to $40.0 million, as~~ compared to ~~$42.0 million for~~ the ~~same~~Three ~~period~~Month inPeriod ~~2023.~~ended ~~The~~September ~~decrease~~30, was mainly attributable to a: (i) $6.5 million decrease in bareboat and charter-in hire expense of the dry bulk fleet; (ii) $1.1 million decrease in bunkers expenses; and (iii) $0.2 million decrease in brokers’ commissions. The decrease was partially mitigated by a: (i) $5.5 million increase in other voyage expenses; and (ii) $0.3 million increase in port expenses.2023

~~Direct~~Time ~~vessel~~charter ~~expenses~~and voyage revenues: ~~Direct~~Time ~~vessel~~charter ~~expenses~~and voyage revenues of Navios Partners for the three month period ended ~~June~~September 30, 2024, increased by $117.16 million, or 5.4%, to $18340.98 million, as compared to $17323.82 million for the same period in 2023. The increase ofin revenue was mainly attributable to the increase in the TCE rate. For the three month periods ended September 30, 2024 and 2023, time charter and voyage revenues were positively affected by $12.14 million ~~was~~and ~~mainly~~negatively ~~attributable~~affected by $9.7 million, respectively, relating to the ~~amortization~~straight-line effect of the ~~deferred~~containership ~~drydock~~ and ~~special~~tanker ~~survey~~charters ~~costs~~with ~~due~~de-escalating rates. For the three month period ended September 30, 2024, the TCE rate increased by 7.0% to $23,591 per day, as compared to $22,052 per day for the ~~increase~~same period in 2023. The available days of the ~~number~~fleet decreased by 1.5% to 13,552 days for the three month period ended September 30, 2024, as compared to 13,759 days for the same period in 2023 mainly due to the sale of vessels, ~~that~~partially ~~underwent~~mitigated ~~drydocking~~by orthe ~~special~~deliveries ~~survey~~of newbuilding vessels.

~~Vessel~~Time ~~operating~~charter and voyage expenses: ~~Vessel~~Time ~~operating~~charter and voyage expenses for the three month period ended ~~June~~September 30, 2024, ~~increased~~decreased by $25.70 million to $8534.39 million, as compared to $8239.69 million for the same period in 2023. The ~~increase~~decrease was mainly ~~due~~attributable to ~~the~~a: ~~expansion~~(i) of$5.7 ~~our~~million ~~fleet~~decrease in bareboat and ~~the~~charter-in ~~adjustment~~hire expense of the ~~fixed~~dry ~~daily~~bulk ~~fee~~fleet; (ii) $4.0 million decrease in ~~accordance~~bunkers ~~with~~expenses from the ~~management~~decreased ~~agreements~~days (of freight voyages in the ~~“Management~~third ~~Agreements”~~quarter of 2024; and (iii), $0.2 million decrease in port expenses. The decrease was partially mitigated by ~~the~~a: ~~sale~~(i) of$4.7 ~~vessels~~million increase in other miscellaneous voyage expenses; and (ii) $0.2 million increase in brokers’ commissions.

~~General~~Direct ~~and~~vessel ~~administrative~~ expenses: ~~General~~Direct ~~and~~vessel ~~administrative~~ expenses ~~increased by $0.1 million to $20.6 million~~ for the three month period ended ~~June~~September 30, 2024, increased by $2.2 million to $18.1 million, as compared to $2015.59 million for the same period in 2023. The increase of $2.2 million was mainly attributable to the amortization of the deferred drydock and special survey costs due to the increase in the number of vessels that underwent drydocking or special survey.

~~Depreciation~~Vessel ~~and~~operating ~~amortization of intangible assets~~expenses: ~~Depreciation~~Vessel ~~and~~operating ~~amortization~~expenses ~~of intangible assets amounted to $56.3 million~~ for the three month period ended ~~June~~September 30, 2024, asincreased ~~compared~~by to $546.01 million ~~for~~to ~~the same period in 2023. The increase of~~ $289.30 million, ~~was~~as ~~mainly~~compared ~~attributable~~ to ~~a: (i)~~ $282.9 million ~~increase~~for ~~in depreciation expense due to~~ the ~~delivery~~same ofperiod ~~nine~~in ~~vessels during the last nine months of~~ 2023 ~~and the first half of 2024; and (ii) $1~~.3 ~~million~~The increase inwas ~~depreciation expense~~ mainly due to ~~vessel~~the ~~improvements.~~change ~~The above increase was partially mitigated by a: (i) $1.6 million decrease~~ in ~~depreciation expense due to~~ the ~~sale~~composition of 11our ~~vessels~~fleet ~~since~~with ~~the~~deliveries ~~second quarter of 2023;~~ and ~~(ii)~~sale ~~$0.3 million decrease in amortization~~ of ~~favorable lease terms. Depreciation of~~ vessels isand ~~calculated~~the ~~using~~adjustment ~~an estimated useful life~~ of 25the ~~years~~fixed ~~for~~daily ~~dry~~fee ~~bulk~~in ~~and~~accordance ~~tanker~~with ~~vessels and 30 years for containerships, respectively, from~~ the ~~date~~management ~~the~~agreements ~~vessel was originally delivered from~~ (the ~~shipyard~~“Management Agreements”).

~~Amortization~~General ofand ~~unfavorable~~administrative ~~lease terms~~expenses: ~~Amortization~~General ofand ~~unfavorable~~administrative ~~lease~~expenses ~~terms~~increased ~~amounted~~by to $31.26 million ~~and~~to $521.31 million for the three month ~~periods~~period ended ~~June~~September 30, 2024 ~~and 2023~~, ~~respectively,~~as ~~related~~compared to ~~the~~$19.5 ~~amortization~~million offor the ~~fair~~same ~~value~~period ofin ~~the~~2023 ~~time~~in ~~charters~~accordance with ~~unfavorable~~our ~~lease~~administrative ~~terms~~services asagreement ~~determined at~~ (the ~~acquisition date of Navios Maritime Containers L.P. (~~“~~Navios~~Administrative ~~Containers~~Services Agreement”).

~~Gain~~Depreciation onand ~~sale~~amortization of ~~vessels,~~intangible ~~net~~assets: ~~Gain~~Depreciation onand ~~sale~~amortization of ~~vessels,~~intangible ~~net~~assets amounted to $757.37 million for the three month period ended ~~June~~September 30, 2024, ~~relating~~as compared to $54.5 million for the same period in 2023. The increase of $3.2 million was mainly attributable to a: (i) $144.96 million ~~gain~~increase onin ~~sale~~depreciation ofexpense ~~three~~due to the delivery of ~~our~~15 vessels, since the third quarter of 2023; and (ii) $0.7 million increase in depreciation expense mainly due to vessel improvements. The above increase was partially mitigated by a: (i) $71.68 million ~~impairment~~decrease ~~loss~~in ofdepreciation ~~two~~expense due to the sale of ~~our~~8 vessels. ~~Gain~~since onthe ~~sale~~third quarter of ~~vessels,~~2023; ~~net~~and ~~amounted~~(ii) to $100.23 million decrease in amortization of favorable lease terms. Depreciation of vessels is calculated using an estimated useful life of 25 years for ~~the~~dry ~~three~~bulk ~~month~~and ~~period~~tanker ~~ended~~vessels ~~June~~and 30 years for containerships, ~~2023~~respectively, ~~relating~~from tothe date the ~~sale~~vessel ofwas ~~four~~originally ofdelivered ~~our~~from ~~vessels~~the shipyard.

~~Interest~~Amortization ~~expense~~of ~~and~~unfavorable ~~finance~~lease ~~cost, net~~terms: ~~Interest~~Amortization ~~expense~~of ~~and~~unfavorable ~~finance~~lease ~~cost,~~terms ~~net~~amounted ~~for~~to ~~the three month period ended June 30, 2024 decreased by~~ $3.2 million toand $303.15 million, ~~as compared to $33.3 million~~ for the same period in 2023. The decrease was mainly due to the increase in interest expense capitalized related to deposits for vessel acquisitions, the decrease in interest expense incurred on credit facilities, financial liabilities and finance lease liabilities. The decrease in weighted average interest rate for the three month ~~period~~periods ended ~~June~~September 30, 2024 toand ~~7.1% from 7.4% for the same period in~~ 2023, ~~was~~respectively, ~~partially~~related ~~mitigated~~to by the ~~increase~~amortization inof ~~Navios~~the ~~Partner’s~~fair ~~weighted~~value ~~average~~of ~~loan balance to $1,930.2 million for~~ the ~~three~~time ~~month~~charters ~~period~~with ~~ended~~unfavorable ~~June~~lease ~~30,~~terms ~~2024,~~ as ~~compared~~determined toat the ~~$1,899.3~~acquisition ~~million~~date ~~for~~of ~~the~~Navios ~~same~~Maritime ~~period~~Containers inL.P. ~~2023~~(“Navios Containers”).

~~Interest~~Gain ~~income~~on sale of vessels, net: ~~Interest~~Gain ~~income~~on sale of vessels, net amounted to $31.62 million for the three month period ended ~~June~~September 30, 2024, asrelated ~~compared~~to the sale of one of our vessels. Gain on sale of vessels, net amounted to $27.52 million for the ~~same~~three month period inended September 30, 2023, ~~mainly~~relating ~~due~~ to ~~the~~a ~~increase~~$7.4 million gain on sale of ~~time~~one ~~deposits~~of our vessels, partially mitigated by a $0.2 million impairment loss of one of our vessels.

Interest expense and finance cost, net: Interest expense and finance cost, net for the three month period ended September 30, 2024 increased by $0.8 million to $32.6 million, as compared to $31.8 million for the same period in 2023. The increase was mainly due to the increase in interest expense incurred on credit facilities and financial liabilities, the increase in amortization of finance charges and other finance costs and the decrease in interest expense capitalized, related to deposits for vessel acquisitions, partially mitigated by the decrease in interest expense incurred on finance lease

~~Other~~liabilities. ~~expense,~~The ~~net:~~weighted ~~Other~~average ~~expense,~~interest ~~net~~rate for the three month period ended ~~June~~September 30, 2024 ~~increased~~decreased byto $17.10% ~~million~~from ~~to $3~~7.53% ~~million~~for the same period in 2023, aswhile ~~compared~~Navios Partner’s weighted average loan balance increased to $2,008.41 million for the ~~same~~three month period inended ~~2023~~September 30, ~~mainly~~2024, ~~due~~as compared to the ~~increase in expenses related to other miscellaneous expenses~~$1,949.4 ~~net,~~million ~~claims~~for ~~and~~the ~~foreign~~same ~~exchange~~period ~~differences~~in 2023.

~~Net~~Interest income: ~~Net~~Interest income amounted to $3.4 million for the three month period ended ~~June~~September 30, 2024, ~~amounted to $101.5 million~~ as compared to $~~112~~3.3 million for the same period in 2023. ~~The decrease in net income of $10.8 million was due to the factors discussed above.~~

~~For~~Other income/ (expense), net: Other income, net for the ~~Six~~three ~~Month~~month ~~Period~~period ended ~~June~~September 30, 2024 ~~compared~~increased by $5.3 million to ~~the~~$2.5 ~~Six~~million ~~Month~~other ~~Period~~income, ~~ended~~net, ~~June~~as 30compared to $2.8 million other expense, net for the same period in 2023, mainly due to the increase in foreign exchange gains.

~~Time~~Net ~~charter and voyage revenues~~income: ~~Time~~Net ~~charter~~income ~~and voyage revenues of Navios Partners~~ for the ~~six~~three month period ended ~~June~~September 30, 2024 ~~increased~~amounted ~~by $4.2 million, or 0.6%,~~ to $~~660~~97.78 million, as compared to $~~656~~89.58 million for the same period in 2023. The increase in ~~revenue~~net ~~was~~income ~~mainly~~of attributable to the increase in the TCE rate and the increase in revenue from freight voyages. For the six month periods ended June 30, 2024 and 2023, time charter and voyage revenues were positively affected by $28.50 million ~~and~~was negatively affected by $20.5 million, respectively, relating to the straight-line effect of the containership and tanker charters with de-escalating rates. For the six month period ended June 30, 2024, the TCE rate increased by 0.5% to $22,448 per day, as compared to $22,337 per day for the same period in 2023. The available days of the fleet decreased by 1.6% to 27,038 days for the six month period ended June 30, 2024, as compared to 27,480 days for the same period in 2023 mainly due to the ~~sale~~factors ofdiscussed ~~vessels, partially mitigated by the deliveries of newbuilding and secondhand vessels~~above.

~~Time~~For ~~charter and voyage expenses: Time charter and voyage expenses for~~ the ~~six~~Nine ~~month~~Month ~~period~~Period ended ~~June~~September 30, 2024 ~~increased by $0.3 million to $82.0 million, as~~ compared to ~~$81.7 million for~~ the ~~same~~Nine ~~period~~Month inPeriod ~~2023.~~ended ~~The~~September ~~increase~~30, was mainly attributable to a: (i) $9.1 million increase in other voyage expenses; (ii) $2.6 million increase in bunkers expenses arising from the increased days of freight voyages in the first half of 2024; and (iii) $0.9 million increase in port expenses. The increase was partially mitigated by: (i) an $11.8 million decrease in bareboat and charter-in hire expense of the dry bulk fleet; and (ii) a $0.5 million decrease in brokers’ commissions.2023

~~Direct~~Time ~~vessel~~charter ~~expenses~~and voyage revenues: ~~Direct~~Time ~~vessel~~charter ~~expenses~~and voyage revenues of Navios Partners for the ~~six~~nine month period ended ~~June~~September 30, 2024, increased by $421.39 million, or 2.2%, to $361,001.5 million, as compared to $32979.26 million for the same period in 2023. The increase ofin revenue was mainly attributable to the increase in the TCE rate. For the nine month periods ended September 30, 2024 and 2023, time charter and voyage revenues were positively affected by $4.39 million ~~was~~and ~~mainly~~negatively ~~attributable~~affected by $30.2 million, respectively, relating to the ~~amortization~~straight-line effect of the ~~deferred~~containership ~~drydock~~ and ~~special~~tanker ~~survey~~charters ~~costs~~with ~~due~~de-escalating rates. For the nine month period ended September 30, 2024, the TCE rate increased by 2.6% to $22,830 per day, as compared to $22,242 per day for the ~~increase~~same period in 2023. The available days of the ~~number~~fleet decreased by 1.6% to 40,590 days for the nine month period ended September 30, 2024, as compared to 41,239 days for the same period in 2023 mainly due to the sale of vessels, ~~that~~partially ~~underwent~~mitigated ~~drydocking~~by orthe ~~special~~deliveries ~~survey~~of newbuilding vessels.

~~Vessel~~Time ~~operating~~charter and voyage expenses: ~~Vessel~~Time ~~operating~~charter and voyage expenses for the ~~six~~nine month period ended ~~June~~September 30, 2024, ~~increased~~decreased by $4.47 million to $~~170~~116.29 million, as compared to $~~165~~121.86 million for the same period in 2023. The ~~increase~~decrease was mainly ~~due~~attributable to ~~the~~a: ~~expansion~~(i) of$17.5 ~~our~~million ~~fleet~~decrease in bareboat and ~~the~~charter-in ~~adjustment~~hire expense of the ~~fixed~~dry ~~daily~~bulk ~~fee~~fleet; (ii) $1.3 million decrease in ~~accordance~~bunkers ~~with~~expenses; ~~the~~and ~~Management~~(iii) ~~Agreements,~~$0.3 million decrease in brokers’ commissions. The decrease was partially mitigated by ~~the~~a: ~~sale~~(i) of$13.6 ~~vessels~~million increase in other voyage expenses; and (ii) $0.8 million increase in port expenses.

~~General~~Direct ~~and~~vessel ~~administrative~~ expenses: ~~General~~Direct ~~and~~vessel ~~administrative~~ expenses ~~increased by $1.3 million to $41.3 million~~ for the ~~six~~nine month period ended ~~June~~September 30, 2024, increased by $6.5 million to $54.6 million, as compared to $4048.01 million for the same period in 2023. The increase of $6.5 million was mainly ~~due~~attributable to athe ~~$1.6~~amortization ~~million~~of ~~increase~~the indeferred ~~administrative~~drydock ~~expenses~~and ~~paid~~special survey costs, due to the ~~Manager~~increase asin ~~per~~ the ~~administrative~~number ~~services~~of ~~agreement~~vessels ~~(the~~that ~~“Administrative~~underwent ~~Services~~drydocking ~~Agreement”);~~or special survey, partially mitigated by athe ~~$0.3 million~~ decrease inof ~~legal~~certain ~~and~~extraordinary ~~professional fees~~expenses, asincluding ~~well~~crew asrelated ~~audit~~expenses ~~fees~~ and ~~other administrative expenses~~insurances.

~~Depreciation~~Vessel ~~and~~operating ~~amortization of intangible assets~~expenses: ~~Depreciation~~Vessel ~~and~~operating ~~amortization~~expenses ~~of intangible assets amounted to $111.9 million~~ for the ~~six~~nine month period ended ~~June~~September 30, 2024, asincreased ~~compared~~by to $~~108~~10.36 million ~~for~~to ~~the same period in 2023. The increase of~~ $3259.62 million, ~~was~~as ~~mainly~~compared ~~attributable~~ to ~~a: (i)~~ $5248.56 million ~~increase~~for ~~in depreciation expense due to~~ the ~~delivery~~same ofperiod ~~12 vessels~~ in 2023 ~~and during the first half of 2024; and (ii) $2~~.2 ~~million increase in depreciation expense mainly due to vessel improvements.~~ The ~~above~~ increase was ~~partially~~mainly ~~mitigated by a: (i) $3.6 million decrease in depreciation expense~~ due to the ~~sale~~change ~~of 19 vessels~~ in ~~2023 and during~~ the ~~first~~composition ~~half~~ of ~~2024;~~our ~~and~~fleet ~~(ii)~~with ~~$0.5~~deliveries ~~million~~and ~~decrease~~sale ~~in amortization~~ of ~~favorable lease terms. Depreciation of~~ vessels isand ~~calculated~~the ~~using~~adjustment ~~an estimated useful life~~ of ~~25 years for dry bulk and tanker vessels and 30 years for containerships, respectively, from~~ the ~~date~~fixed ~~the~~daily ~~vessel~~fee ~~was~~in ~~originally~~accordance ~~delivered~~with ~~from~~ the ~~shipyard~~Management Agreements.

~~Amortization~~General ofand ~~unfavorable~~administrative ~~lease terms~~expenses: ~~Amortization~~General ofand ~~unfavorable~~administrative ~~lease~~expenses ~~terms~~increased ~~amounted~~by to $62.38 million ~~and~~to $1262.94 million for the ~~six~~nine month ~~periods~~period ended ~~June~~September 30, 2024 ~~and 2023~~, ~~respectively,~~as ~~related~~compared to ~~the~~$59.6 ~~amortization~~million offor the ~~fair~~same ~~value~~period ofin ~~the~~2023 ~~time~~in ~~charters~~accordance with ~~unfavorable~~our ~~lease~~Administrative ~~terms~~Services ~~as determined at the acquisition date of Navios Containers and at the date of obtaining control of Navios Maritime Acquisition Corporation~~Agreement.

Depreciation and amortization of intangible assets: Depreciation and amortization of intangible assets amounted to $169.6 million for the nine month period ended September 30, 2024, as compared to $162.8 million for the same period in 2023. The increase of $6.8 million was mainly attributable to a: (i) $10.1 million increase in depreciation expense due to the delivery of 20 vessels in 2023 and during the nine month period ended September 30, 2024; and (ii) $2.9 million increase in depreciation expense mainly due to vessel improvements. The above increase was partially mitigated by: (i) a $5.4 million decrease in depreciation expense due to the sale of 20 vessels in 2023 and during the nine month period ended September 30, 2024; and (ii) an $0.8 million decrease in amortization of favorable lease terms. Depreciation of

~~Gain~~vessels onis ~~sale~~calculated ofusing ~~vessels,~~an ~~net:~~estimated ~~Gain~~useful onlife ~~sale~~ of ~~vessels,~~25 ~~net~~years ~~amounted to $9.1 million~~ for ~~the~~dry ~~six~~bulk ~~month~~and ~~period~~tanker ~~ended~~vessels ~~June~~and 30, ~~2024,~~years ~~relating~~for ~~to a $16.7 million gain on sale of four of our vessels~~containerships, ~~partially mitigated by a $7.6 million impairment loss of two of our vessels. Gain on sale of vessels~~respectively, ~~net~~from ~~amounted~~the todate ~~$43.6 million for~~ the ~~six~~vessel ~~month~~was ~~period~~originally ~~ended~~delivered ~~June~~from ~~30,~~the ~~2023, relating to a gain on sale of 12 of our vessels~~shipyard.

~~Interest~~Amortization ~~expense~~of ~~and~~unfavorable ~~finance~~lease ~~cost, net~~terms: ~~Interest~~Amortization ~~expense~~of ~~and~~unfavorable ~~finance~~lease ~~cost,~~terms ~~net~~amounted ~~for~~to ~~the six month period ended June 30, 2024 decreased by~~ $9.~~4 million to $59.~~5 million, asand ~~compared to~~ $6816.94 million for the ~~same~~nine ~~period~~month inperiods ~~2023.~~ended ~~The~~September ~~decrease~~30, ~~was~~2024 ~~mainly~~and ~~due~~2023, torespectively, ~~the increase in interest expense capitalized~~ related to ~~deposits for vessel acquisitions,~~ the ~~decrease~~amortization ~~in the discount effect~~ of ~~long-term assets and~~ the ~~decrease~~fair invalue ~~amortization~~ of ~~finance charges and other finance costs. The decrease in weighted average interest rate for~~ the ~~six~~time ~~month~~charters ~~period~~with ~~ended~~unfavorable ~~June~~lease ~~30,~~terms ~~2024~~as todetermined ~~7.1%~~at ~~from 7.2% for~~ the ~~six~~acquisition ~~month~~date ~~period~~of ~~ended June 30, 2023, was partially mitigated by the increase in~~ Navios ~~Partner’s~~Containers ~~weighted~~and ~~average~~at ~~loan balance to $1,909.3 million for~~ the ~~six~~date ~~month~~of ~~period~~obtaining ~~ended~~control ~~June~~of ~~30,~~Navios ~~2024,~~Maritime asAcquisition ~~compared to the $1,901~~Corporation.~~9 million for the six month period ended June 30, 2023.~~

~~Interest~~Gain ~~income~~on sale of vessels, net: ~~Interest~~Gain ~~income~~on sale of vessels, net amounted to $710.04 million for the ~~six~~nine month period ended ~~June~~September 30, 2024, asrelating ~~compared~~to an $18.0 million gain on sale of five of our vessels, partially mitigated by a $7.6 million impairment loss of two of our vessels. Gain on sale of vessels, net amounted to $450.18 million for the ~~same~~nine month period inended September 30, 2023, ~~mainly~~relating ~~due~~ to ~~the~~a ~~increase~~$51.0 million gain on sale of ~~time~~13 ~~deposits~~of our vessels, partially mitigated by a $0.2 million impairment loss of one of our vessels.

~~Other~~Interest expense and finance cost, net: ~~Other~~Interest expense and finance cost, net for the ~~six~~nine month period ended ~~June~~September 30, 2024 decreased by $1.8.6 million to $792.01 million, as compared to $8100.87 million for the same period in 2023,. The decrease was mainly due to the decrease in ~~expenses~~the discount effect of long-term assets, the increase in interest expense capitalized related to ~~claims~~deposits for vessel acquisitions, the decrease in interest expense incurred on credit facilities and ~~foreign~~financial ~~exchange~~liabilities ~~differences~~and the decrease in amortization of finance charges and other finance costs, partially mitigated by the increase in ~~other~~interest ~~miscellaneous~~expense ~~expenses~~incurred on finance lease liabilities. The weighted average interest rate for the nine month period ended September 30, ~~net~~2024 decreased to 7.1% from 7.3% for the same period in 2023, while Navios Partner’s weighted average loan balance increased to $1,942.5 million for the nine month period ended September 30, 2024, as compared to the $1,917.9 million for the same period in 2023.

~~Net~~Interest income: ~~Net~~Interest income amounted to $10.4 million for the ~~six~~nine month period ended ~~June~~September 30, 2024, ~~amounted to $174.8 million~~ as compared to $~~211~~7.54 million ~~net income~~ for the same period in 2023., ~~The~~mainly ~~decrease~~due into ~~net~~the ~~income~~increase of ~~$36.7~~interest ~~million~~in ~~was~~time ~~due to the factors discussed above~~deposits.

Other income/ (expense), net: Other expense, net for the nine month period ended September 30, 2024 decreased by $7.1 million to $4.5 million, as compared to $11.6 million for the same period in 2023, mainly due to the increase in foreign exchange gains.

Net income: Net income for the nine month period ended September 30, 2024 amounted to $272.6 million as compared to $301.3 million net income for the same period in 2023. The decrease in net income of $28.7 million was due to the factors discussed above.

Off-Balance Sheet Arrangements

We have no off-balance sheet arrangements that have or are reasonably likely to have, a current or future material effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources.

Liquidity and Capital Resources

We anticipate that our primary sources of funds for our short-term liquidity needs will consist of cash flows from operations, our equity offerings, proceeds from asset sales, long-term bank borrowings and other debt raisings. In addition to distributions on our units and common unit repurchase program, our primary short-term liquidity needs are to fund general working capital requirements, cash reserve requirements including those under our credit facilities and debt service, while our long-term liquidity needs primarily relate to expansion and investment capital expenditures and other maintenance capital expenditures and debt repayment. As of ~~June~~September 30, 2024, Navios Partners’ current assets totaled $~~448~~472.89 million, while current liabilities totaled $~~650~~418.39 million, resulting in a ~~negative~~positive working capital position of $~~201~~54.50 million~~, primarily related to balloon payments totaling $287~~.5 million due under its credit facilities, financial liabilities and finance lease liabilities that are expected to be refinanced (see Note 6 – Borrowings to the unaudited condensed consolidated financial statements included elsewhere in this report). Navios Partners’ cash forecast indicates that it will generate sufficient cash through its contracted revenue, as of ~~September~~November 57, 2024, of $3.79 billion and cash proceeds from the sale of vessels (see Note 154 –- ~~Subsequent~~Vessels, ~~events~~net to the unaudited condensed consolidated financial statements included elsewhere in this report) to make the required principal and interest payments on its indebtedness, to make payments for capital expenditures, provide for the normal working capital requirements of the business for a period of at least 12 months from the date of issuance of our unaudited condensed consolidated financial statements.

Generally, our long-term sources of funds derive from cash from operations, long-term bank borrowings and other debt or equity financings to fund acquisitions and expansion and investment capital expenditures. We cannot assure you that we will be able to secure adequate financing or to obtain additional funds on favorable terms to meet our liquidity needs.

Cash deposits and cash equivalents in excess of amounts covered by government provided insurance are exposed to loss in the event of non-performance by financial institutions. Navios Partners does maintain cash deposits and cash equivalents in excess of government provided insurance limits. Navios Partners also minimizes exposure to credit risk by dealing with a diversified group of major financial institutions.

Navios Partners may use funds to repurchase its outstanding common units and/or indebtedness from time to time. Repurchases may be made in the open market, or through privately negotiated transactions or otherwise, in compliance

~~with~~Cash ~~applicable~~deposits ~~laws, rules~~ and ~~regulations,~~cash atequivalents ~~prices~~in ~~and~~excess onof ~~terms~~amounts ~~Navios~~covered ~~Partners~~by ~~deems~~government ~~appropriate~~provided ~~and~~insurance ~~subject~~are exposed to ~~its~~loss in the event of non-performance by financial institutions. Navios Partners does maintain cash ~~requirements~~deposits ~~for~~and ~~other~~cash ~~purposes,~~equivalents ~~compliance~~in ~~with~~excess ~~the~~of ~~covenants~~government ~~under~~provided insurance limits. Navios Partners’ also minimizes exposure to credit ~~facilities,~~risk ~~and~~by ~~other~~dealing ~~factors~~with ~~management~~a ~~deems~~diversified ~~relevant~~group of major financial institutions.

~~In July 2022, the Board of Directors of~~ Navios Partners ~~authorized~~may ause ~~common~~funds ~~unit~~to repurchase ~~program~~its ~~for~~outstanding ~~up to $100.0 million of Navios Partners’~~ common units. ~~Common~~and/or ~~unit~~indebtedness ~~repurchases will be made~~ from time to time. ~~for~~Repurchases ~~cash~~may inbe ~~open~~made ~~market~~in ~~transactions~~the atopen ~~prevailing~~ market, ~~prices~~ or inthrough privately negotiated transactions. ~~The~~or ~~timing~~otherwise, ~~and~~in ~~amount~~compliance ofwith ~~repurchases~~applicable ~~under~~laws, ~~the~~rules ~~program will be determined by Navios Partners’ management based upon market conditions~~ and ~~financial and other considerations~~regulations, ~~including~~at ~~working~~prices ~~capital~~ and ~~planned~~on orterms ~~anticipated~~Navios ~~growth~~Partners ~~opportunities.~~deems ~~The~~appropriate ~~program does not require any minimum repurchase or any specific number of common units~~ and ~~may~~subject beto ~~suspended~~its orcash ~~reinstated~~requirements atfor ~~any~~other ~~time~~purposes, incompliance ~~the~~with ~~Navios Partners’ discretion and without notice. The Board of Directors will review~~ the ~~program~~covenants ~~periodically.~~under ~~As of September 4, 2024,~~ Navios Partners’ ~~had~~credit ~~repurchased 246~~facilities,~~573~~ ~~common~~and ~~units,~~other ~~for~~factors amanagement ~~total~~deems ~~cost of approximately $12~~relevant.~~2 million.~~

~~The~~In ~~following~~July ~~table~~2022, ~~presents~~the ~~cash~~Board ~~flow~~of ~~information~~Directors ~~derived~~of Navios Partners authorized a common unit repurchase program for up to $100.0 million of Navios Partners’ common units. Common unit repurchases will be made from ~~the~~time ~~unaudited~~to ~~condensed~~time ~~Consolidated~~for ~~Statements~~cash in open market transactions at prevailing market prices or in privately negotiated transactions. The timing and amount of ~~Cash~~repurchases ~~Flows~~under the program will be determined by Navios Partners’ management based upon market conditions and financial and other considerations, including working capital and planned or anticipated growth opportunities. The program does not require any minimum repurchase or any specific number of common units and may be suspended or reinstated at any time in the Navios Partners’ ~~for~~discretion and without notice. The Board of Directors will review the ~~six~~program ~~month~~periodically. ~~periods~~As ~~ended~~of ~~June~~November 3011, 2024, ~~and~~Navios ~~2023~~Partners had repurchased 377,290 common units, for a total cost of approximately $19.7 million.

	Six MonthPeriod EndedJune 30, 2024			Six MonthPeriod EndedJune 30, 2023
	(unaudited)			(unaudited)
	(In thousands of U.S. dollars)
Net cash provided by operating activities	$	225,915		$	228,343
Net cash (used in)/ provided by investing activities		(293,957	)		31,665
Net cash provided by/ (used in) financing activities		98,711			(165,054	)
Increase in cash, cash equivalents and restricted cash	$	30,669		$	94,954

The following table presents cash flow information derived from the unaudited condensed Consolidated Statements of Cash Flows of Navios Partners for the nine month periods ended September 30, 2024 and 2023.

Net cash provided by operating activities for the six month period ended June 30, 2024 as compared to the net cash provided by operating activities for the six month period ended June 30, 2023


	Nine Month Period Ended September 30, 2024			Nine Month Period Ended September 30, 2023
	(unaudited)			(unaudited)
	(In thousands of U.S. dollars)
Net cash provided by operating activities	$	368,554		$	348,613
Net cash used in investing activities		(613,964	)		(72,423	)
Net cash provided by/ (used in) financing activities		290,193			(182,115	)
Increase in cash, cash equivalents and restricted cash	$	44,783		$	94,075

Net cash provided by operating activities ~~decreased by $2.4 million to $225.9 million~~ for the ~~six~~nine month period ended ~~June~~September 30, 2024, as compared to ~~$228.3 million for~~ the ~~same period in 2023. In determining~~ net cash provided by operating activities, ~~net income is adjusted~~ for the ~~effects~~nine ofmonth ~~certain~~period ~~non-cash~~ended ~~items~~September as30, ~~discussed below.~~2023

~~The~~Net ~~aggregate adjustments to reconcile net income to net~~ cash provided by operating activities ~~were~~increased by $~~122~~20.80 million ofto ~~non-cash~~$368.6 ~~positive~~million ~~net adjustments~~ for the ~~six~~nine month period ended ~~June~~September 30, 2024, ~~which~~as ~~consisted~~compared ~~mainly~~to ~~of the following adjustments: (i)~~ $~~111~~348.96 million ~~depreciation~~for ~~and~~the ~~amortization~~same ofperiod ~~intangible~~in ~~assets; (ii) $30~~2023.3 ~~million~~In ~~amortization~~determining ofnet ~~deferred~~cash ~~drydock~~provided ~~and special survey costs; and (iii) $3.7 million amortization and write-off of deferred finance costs and discount. These adjustments were partially mitigated~~ by: ~~(i)~~operating ~~$9.1 million gain from sale of vessels~~activities, net; ~~(ii)~~income ~~$6.3~~is ~~million~~adjusted ~~amortization~~for ofthe ~~unfavorable~~effects ~~lease~~of ~~terms;~~certain ~~(iii) $5.1 million~~ non-cash ~~amortization~~items ofas ~~deferred~~discussed ~~revenue and straight-line effect of the containership and tanker charters with de-escalating rates; and (iv) $2~~below.~~6 million amortization of operating lease assets/ liabilities.~~

The ~~net~~aggregate ~~cash~~adjustments ~~outflow~~to ~~resulting~~reconcile ~~from~~net ~~the~~income ~~change~~to innet ~~operating~~cash ~~assets~~provided ~~and~~by ~~liabilities~~operating ofactivities were $71189.75 million of non-cash positive net adjustments for the ~~six~~nine month period ended ~~June~~September 30, 2024, ~~resulted~~which ~~from~~consisted amainly of the following adjustments: (i) $38169.6 million indepreciation ~~payments for drydock~~ and ~~special~~amortization ~~survey~~of ~~costs~~intangible assets; (ii) $3245.04 million ~~decrease~~amortization inof ~~amounts~~deferred ~~due~~drydock toand ~~related~~special ~~parties~~survey costs; and (iii) $75.19 million ~~decrease~~amortization inand ~~accounts~~write-off ~~payable;~~of ~~(iv) $6.0 million decrease in~~ deferred ~~revenue;~~finance costs and ~~(v) $1~~discount.0 ~~million~~These ~~decrease~~adjustments inwere ~~accrued expenses. This was~~ partially mitigated by a: (i) $10.14 million ~~decrease~~gain infrom ~~amounts~~sale ~~due~~of ~~from~~vessels, ~~related~~net; ~~parties~~ (~~including~~ii) ~~current~~$9.5 ~~and~~million ~~non-current~~amortization ~~portion)~~of unfavorable lease terms; (iiiii) $18.67 million ~~decrease~~non-cash inamortization ~~prepaid~~of ~~expenses~~deferred revenue and ~~other~~straight-line ~~current~~effect ~~assets~~of the containership and tanker charters with de-escalating rates; and (~~iii~~iv) $12.38 million ~~decrease~~amortization inof ~~accounts~~operating ~~receivable.~~lease assets/ liabilities.

The ~~aggregate~~net ~~adjustments~~cash tooutflow ~~reconcile~~resulting ~~net~~from ~~income~~the tochange ~~net~~in ~~cash~~operating ~~provided~~assets byand ~~operating~~liabilities ~~activities~~of ~~were~~ $~~108~~93.65 million ~~of non-cash positive net adjustments~~ for the ~~six~~nine month period ended ~~June~~September 30, ~~2023,~~2024 ~~which~~resulted ~~consisted mainly of the following adjustments~~from: (i) a $~~108~~71.37 million ~~depreciation~~in ~~and~~payments ~~amortization~~for ofdrydock ~~intangible~~and ~~assets~~special survey costs; (ii) a $2932.20 million ~~non-cash~~decrease ~~amortization~~in ofamounts ~~deferred~~due ~~revenue~~to ~~and~~related ~~straight-line effect of the containership and tanker charters with de-escalating rates~~parties; (iii) an $188.94 million ~~amortization~~increase ofin ~~deferred~~amounts ~~drydock~~due ~~and~~from ~~special~~related ~~survey~~parties ~~costs~~(including current and non-current portion); (iv) a $57.17 million ~~amortization~~decrease ofin ~~operating~~accounts ~~lease assets/ liabilities~~payable; and (v) a $30.6 million ~~amortization~~decrease ~~and~~in ~~write-off~~accrued ~~of deferred finance costs and discount~~expenses. ~~These~~This ~~adjustments~~was ~~were~~ partially mitigated by a: (i) $432.68 million ~~gain~~increase ~~from~~in ~~sale~~deferred ofrevenue; ~~vessels,~~(ii) ~~net~~$9.1 million decrease in prepaid expenses and other current assets; and (iiiii) $1215.90 million ~~amortization~~decrease ofin ~~unfavorable~~accounts ~~lease terms~~receivable.

The ~~net~~aggregate ~~cash~~adjustments ~~outflow~~to ~~resulting~~reconcile ~~from~~net ~~the~~income ~~change~~to innet ~~operating~~cash ~~assets~~provided ~~and~~by ~~liabilities~~operating ofactivities were $91184.82 million of non-cash positive net adjustments for the ~~six~~nine month period ended ~~June~~September 30, 2023, ~~resulted~~which ~~from~~consisted mainly of the following adjustments: (i) a $~~104~~162.78 million ~~decrease~~depreciation inand ~~amounts~~amortization ~~due~~of tointangible ~~related parties~~assets; (ii) a $4045.82 million innon-cash ~~payments~~amortization ~~for~~of ~~drydock~~deferred revenue and ~~special~~straight-line ~~survey~~effect ~~costs;~~of ~~(iii)~~the ancontainership ~~$8.0~~and ~~million~~tanker ~~decrease~~charters inwith ~~accounts~~de-escalating ~~payable~~rates; ~~and~~ (iviii) a $130.84 million ~~increase~~amortization inof ~~amounts~~deferred ~~due~~drydock ~~from~~and ~~related~~special ~~parties.~~survey ~~This~~costs; ~~was partially mitigated by a:~~ (iiv) $437.68 million ~~decrease~~amortization inof ~~accounts~~operating ~~receivable~~lease assets/ liabilities; and (iiv) $95.2 million ~~decrease~~amortization inand ~~prepaid~~write-off ~~expenses~~of deferred finance costs and ~~other~~discount. ~~current~~These ~~assets;~~adjustments were partially mitigated by: (~~iii~~i) $750.8 million ~~increase~~gain infrom ~~accrued~~sale ~~expenses~~of vessels, net; and (ivii) $216.94 million ~~increase~~amortization inof ~~deferred~~unfavorable ~~revenue~~lease terms.

~~Net~~The net cash ~~used~~outflow resulting from the change in ~~investing~~operating ~~activities~~assets and liabilities of $136.9 million for the ~~six~~nine month period ended ~~June~~September 30, ~~2024~~2023 asresulted ~~compared~~from a: (i) $104.7 million decrease in amounts due to ~~the~~related ~~net~~parties; ~~cash~~(ii) ~~provided~~$66.1 bymillion ~~investing~~in ~~activities~~payments for ~~the~~drydock ~~six~~and ~~month~~special ~~period~~survey ~~ended~~costs; ~~June~~(iii) ~~30,~~$9.7 ~~2023~~million decrease in accounts payable; and (iv) $6.3 million decrease in deferred revenue. This was partially mitigated by a: (i) $36.7 million decrease in accounts receivable; (ii) $7.1 million decrease in prepaid expenses and other current assets; and (iii) $6.1 million increase in accrued expenses.

Net cash used in investing activities for the ~~six~~nine month period ended ~~June~~September 30, 2024 ~~amounted to $294.0 million~~ as compared to ~~$31.7~~the ~~million~~ net cash ~~provided~~used byin investing activities for the ~~same~~nine month period inended September 30, 2023.

Net cash used in investing activities ~~of $294.0 million~~ for the ~~six~~nine month period ended ~~June~~September 30, 2024 ~~was~~amounted ~~mainly due~~ to: ~~(i)~~ $~~211~~614.20 million ~~related~~as tocompared ~~vessels acquisitions and additions; and (ii) $182.6 million related~~ to ~~deposits for the acquisition/ option to acquire vessels and capitalized expenses. This was partially mitigated by (i)~~ $9172.4 million ~~proceeds~~net ~~related~~cash toused ~~the~~in ~~sale~~investing ofactivities ~~four~~for ~~vessels;~~the ~~and~~same ~~(ii)~~period ~~an $8.4 million decrease~~ in ~~time deposits with original maturities greater than three months~~2023.

Net cash ~~provided~~used byin investing activities of $31614.70 million for the ~~six~~nine month period ended ~~June~~September 30, ~~2023~~2024 was mainly due to: (i) $~~215~~500.87 million ~~proceeds~~ related to ~~the sale of 12~~ vessels. ~~This~~acquisitions ~~was~~and ~~partially~~additions; ~~mitigated~~and ~~by:~~ (iii) $~~113~~226.62 million related to deposits for the acquisition/ option to acquire vessels and capitalized expenses;. ~~and~~This was partially mitigated by: (iii) $70103.59 million proceeds related to ~~vessels’~~the ~~acquisitions~~sale of five vessels; and ~~additions~~(ii) a $9.0 million decrease in time deposits with original maturities greater than three months.

Net cash ~~provided~~used byin ~~financing~~investing activities of $72.4 million for the ~~six~~nine month period ended ~~June~~September 30, ~~2024~~2023 aswas ~~compared~~mainly due to: ~~net~~(i) ~~cash~~$225.9 ~~used~~million inrelated ~~financing~~to ~~activities~~deposits for the ~~six~~acquisition/ ~~month~~option ~~period~~to ~~ended~~acquire ~~June~~vessels ~~30,~~and ~~2023~~capitalized expenses; and (ii) $83.9 million related to vessels’ acquisitions and additions. This was partially mitigated by $237.4 million of proceeds related to the sale of 13 vessels.

Net cash provided by financing activities ~~increased by $263.8 million to $98.7 million inflow~~ for the ~~six~~nine month period ended ~~June~~September 30, 2024, as compared to ~~$165.1~~net ~~million~~cash ~~outflow~~used in financing activities for the ~~same~~nine month period inended September 30, 2023.

Net cash provided by financing activities ofincreased by $98472.73 million ~~for the six month period ended June 30, 2024 was mainly due~~ to $~~311~~290.02 million ~~proceeds~~inflow ~~from~~for the ~~new~~nine ~~credit~~month ~~facilities~~period ~~and~~ended ~~sale~~September ~~and~~30, ~~leaseback~~2024, ~~agreements.~~as ~~This~~compared ~~was partially mitigated by: (i) $199.2 million repayments of long-term debt and financial liabilities; (ii) $5.0 million related~~ to ~~the acquisition of treasury units; (iii)~~ $5182.01 million ~~payments~~outflow offor ~~deferred finance costs related to~~ the ~~new~~same ~~credit~~period ~~facilities~~in ~~and financial liabilities; and (iv) $3~~2023.~~1 million payments for cash distributions.~~

Net cash ~~used~~provided inby financing activities of $~~165~~290.12 million for the ~~six~~nine month period ended ~~June~~September 30, ~~2023~~2024 was mainly due to $679.2 million proceeds from the new credit facilities and sale and leaseback agreements. This was partially mitigated by: (i) $~~635~~361.86 million repayments of ~~loans~~long-term debt and financial liabilities; (ii) $1215.20 million related to the acquisition of treasury units; (iii) $7.8 million payments of deferred finance costs related to the new credit facilities and financial ~~liability~~liabilities; and (~~iii~~iv) $34.16 million payments for cash distributions. ~~This was partially mitigated by $486.0 million of proceeds from the new credit facilities and sale and leaseback agreement.~~

~~Reconciliation~~Net cash used in financing activities of ~~EBITDA~~$182.1 million for the nine month period ended September 30, 2023 was mainly due to: (i) $708.1 million repayments of loans and ~~Adjusted~~financial ~~EBITDA~~liabilities; (ii) $13.2 million payments of deferred finance costs related to ~~Net~~the ~~Cash~~new credit facilities and financial liabilities; and (iii) $4.6 million payments for cash distributions. This was partially mitigated by $543.8 million of proceeds from ~~Operating~~the ~~Activities,~~new ~~EBITDA~~credit facilities and ~~Operating~~sale ~~Surplus~~and leaseback agreements.

	Three MonthPeriod EndedJune 30, 2024			Three MonthPeriod EndedJune 30, 2023			Six MonthPeriod EndedJune 30, 2024			Six MonthPeriod EndedJune 30, 2023
	(unaudited)			(unaudited)			(unaudited)			(unaudited)
	(In thousands of U.S. dollars)
Net cash provided by operating activities	$	131,479		$	133,827		$	225,915		$	228,343
Net increase/ (decrease) in operating assets		25,198			11,166			25,564			(10,193	)
Net decrease in operating liabilities		3,122			39,923			46,105			101,946
Net interest cost		26,491			30,847			52,504			64,754
Amortization and write-off of deferred finance cost		(2,033	)		(1,587	)		(3,709	)		(3,618	)
Amortization of operating lease assets/liabilities		1,803			(2,588	)		2,594			(5,146	)
Non-cash amortization of deferred revenue and straight-line		3,692			(20,137	)		5,057			(29,248	)
Stock-based compensation		—			(1	)		—			(2	)
Gain on sale of vessels, net		7,256			10,151			9,133			43,601
EBITDA(1)	$	197,008		$	201,601		$	363,163		$	390,437
Gain on sale of vessels, net		(7,256	)		(10,151	)		(9,133	)		(43,601	)
Adjusted EBITDA(1)	$	189,752		$	191,450		$	354,030		$	346,836
Cash interest income		3,390			2,222			6,180			3,477
Cash interest paid		(35,865	)		(38,350	)		(67,978	)		(72,992	)
Maintenance and replacement capital expenditures		(66,106	)		(56,702	)		(134,447	)		(112,953	)
Operating Surplus(2)	$	91,171		$	98,620		$	157,785		$	164,368

Reconciliation of EBITDA and Adjusted EBITDA to Net Cash from Operating Activities, EBITDA and Operating Surplus


	Three Month Period Ended September 30, 2024			Three Month Period Ended September 30, 2023			Nine Month Period Ended September 30, 2024			Nine Month Period Ended September 30, 2023
	(unaudited)			(unaudited)			(unaudited)			(unaudited)
	(In thousands of U.S. dollars)
Net cash provided by operating activities	$	142,639		$	120,270		$	368,554		$	348,613
Net increase in operating assets		30,449			32,481			56,013			22,288
Net (increase)/ decrease in operating liabilities		(8,581	)		12,605			37,524			114,551
Net interest cost		29,214			28,535			81,718			93,289
Amortization and write-off of deferred finance cost		(2,191	)		(1,625	)		(5,900	)		(5,243	)
Amortization of operating lease assets/liabilities		190			(2,623	)		2,784			(7,769	)
Non-cash amortization of deferred revenue and straight-line		3,660			(15,974	)		8,717			(45,222	)
Stock-based compensation		—			(1	)		—			(3	)
Gain on sale of vessels, net		1,241			7,170			10,374			50,771
EBITDA(1)	$	196,621		$	180,838		$	559,784		$	571,275
Gain on sale of vessels, net		(1,241	)		(7,170	)		(10,374	)		(50,771	)
Adjusted EBITDA(1)	$	195,380		$	173,668		$	549,410		$	520,504
Cash interest income		2,951			3,241			9,131			6,718
Cash interest paid		(33,182	)		(35,851	)		(101,160	)		(108,843	)
Maintenance and replacement capital expenditures		(66,591	)		(56,134	)		(201,038	)		(169,087	)
Operating Surplus(2)	$	98,558		$	84,924		$	256,343		$	249,292

(1) EBITDA and Adjusted EBITDA

EBITDA represents net income before interest and finance costs, depreciation and amortization (including intangible accelerated amortization) and income taxes. Adjusted EBITDA represents EBITDA excluding certain items, as described in the table above. Navios Partners uses Adjusted EBITDA as a liquidity measure and reconciles EBITDA and Adjusted EBITDA to net cash provided by operating activities, the most comparable U.S. GAAP liquidity measure. EBITDA in this document is calculated as follows: net cash provided by operating activities adding back, when applicable and as the case may be, the effect of: (i) net increase/ ~~(decrease)~~ in operating assets; (ii) net (increase)/decrease in operating liabilities; (iii) net interest cost; (iv) amortization and write-off of deferred finance costs and discount; (v) amortization of operating lease assets/ liabilities; (vi) non-cash amortization of deferred revenue and straight-line effect of the containership and tanker charters with de-escalating rates; (vii) stock-based compensation expense; and (viii) gain on sale of vessels, net. Navios Partners believes that EBITDA and Adjusted EBITDA are each the basis upon which liquidity can be assessed and presents useful information to investors regarding Navios Partners’ ability to service and/or incur indebtedness, pay capital expenditures, meet working capital requirements and make cash distributions. Navios Partners also believes that EBITDA and Adjusted EBITDA are used: (i) by potential lenders to evaluate potential transactions; (ii) to evaluate and price potential acquisition candidates; and (iii) by securities analysts, investors and other interested parties in the evaluation of companies in our industry.

Each of EBITDA and Adjusted EBITDA have limitations as an analytical tool, and should not be considered in isolation or as a substitute for the analysis of Navios Partners’ results as reported under U.S. GAAP. Some of these limitations are: (i) EBITDA and Adjusted EBITDA do not reflect changes in, or cash requirements for, working capital needs; and (ii) although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future. EBITDA and Adjusted EBITDA do not reflect any cash requirements for such capital expenditures. Because of these limitations, EBITDA and Adjusted EBITDA should not be considered as a principal indicator of Navios Partners’ performance. Furthermore, our calculation of EBITDA and Adjusted EBITDA may not be comparable to that reported by other companies due to differences in methods of calculation.

EBITDA for the three month periods ended ~~June~~September 30, 2024 and 2023 was affected by the item described in the table above. Excluding this item, Adjusted EBITDA ~~decreased~~increased by $121.7 million to $~~189~~195.84 million for the three month period ended June 30, 2024, as compared to $191.5 million for the same period in 2023. The decrease in Adjusted EBITDA was primarily due to a: (i) $4.7 million decrease in time charter and voyage revenues; (ii) $2.7 million increase in vessel operating expenses mainly due to the expansion of our fleet and the adjustment of the fixed daily fee in accordance with our Management Agreements, partially mitigated by the sale of vessels; (iii) $1.1 million increase in other expense, net;

~~and~~ended September 30, 2024, as compared to $173.7 million for the same period in 2023. The increase in Adjusted EBITDA was primarily due to a: (ivi) $017.16 million increase in ~~general~~time charter and ~~administrative~~voyage ~~expenses~~revenues; (ii) $5.3 ~~The~~million ~~above~~increase in other income, net; (iii) $5.0 million decrease ~~was~~in ~~partially~~time ~~mitigated~~charter byand a:voyage expenses; and (iiv) $41.95 million decrease in direct vessel expenses (excluding the amortization of deferred drydock, special survey costs and other capitalized items). The above increase was partially mitigated by a: (i) $6.1 million increase in vessel operating expenses mainly due to the change in the composition of our fleet with deliveries and sale of vessels and the adjustment of the fixed daily fee in accordance with our Management Agreements; and (ii) $21.06 million ~~decrease~~increase in ~~time~~general ~~charter~~ and ~~voyage~~administrative expenses in accordance with our Administrative Services Agreement.

EBITDA for the ~~six~~nine month periods ended ~~June~~September 30, 2024 and 2023 was affected by the item described in the table above. Excluding this item, Adjusted EBITDA increased by $728.29 million to $~~354~~549.04 million for the ~~six~~nine month period ended ~~June~~September 30, 2024, as compared to $~~346~~520.85 million for the same period in 2023. The increase in Adjusted EBITDA was primarily due to a: (i) a $721.29 million increase in time charter and voyage revenues; (ii) an $8.6 million decrease in direct vessel expenses (excluding the amortization of deferred drydock, special survey costs and other capitalized items); (iiiii) a $47.21 million ~~increase~~decrease in ~~time~~other ~~charter~~expense, ~~and voyage revenues~~net; and (~~iii~~iv) a $14.87 million decrease in ~~other~~time ~~expense,~~charter ~~net~~and voyage expenses. The above increase was partially mitigated by a: (i) $410.46 million increase in vessel operating expenses mainly due tothe change in the ~~expansion~~composition of our fleet with deliveries and sale of vessels and the adjustment of the fixed daily fee in accordance with our Management Agreements, partially mitigated by the sale of vessels; and (ii) $12.38 million increase in general and administrative expenses in accordance with our Administrative Services Agreement~~; and (iii) $0~~.~~3 million increase in time charter and voyage expenses.~~

(2) Operating Surplus

Navios Partners generated Operating Surplus for the ~~six~~three and nine month ~~period~~periods ended ~~June~~September 30, 2024 of $~~157~~98.86 million, asand ~~compared~~of to $~~164~~256.43 million, respectively. Operating Surplus for the ~~same~~three ~~period~~and nine month periods ended inSeptember 30, 2023 was $84.9 million and $249.3 million, respectively. Operating Surplus is a non-GAAP financial measure used by certain investors to assist in evaluating a partnership’s ability to make quarterly cash distributions (See “Reconciliation of EBITDA and Adjusted EBITDA to Net Cash from Operating Activities, EBITDA and Operating Surplus” contained herein).

Operating Surplus represents net income adjusted for depreciation and amortization expense, non-cash interest expense, non-cash interest income, estimated maintenance and replacement capital expenditures and one-off items. Maintenance and replacement capital expenditures are those capital expenditures required to maintain over the long term the operating capacity of, or the revenue generated by, Navios Partners’ capital assets.

Operating Surplus is a quantitative measure used in the publicly-traded partnership investment community to assist in evaluating a partnership’s ability to make quarterly cash distributions. Operating Surplus is not required by accounting principles generally accepted in the United States and should not be considered a substitute for net income, cash flow from operating activities and other operations or cash flow statement data prepared in accordance with accounting principles generally accepted in the United States or as a measure of profitability or liquidity.

Capital Expenditures

Navios Partners finances its capital expenditures with cash flows from operations, equity offerings, proceeds from asset sales, long-term bank borrowings and other debt raisings. Capital expenditures for each of the ~~six~~nine month periods ended ~~June~~September 30, 2024 and 2023 amounted to $~~393~~726.89 million and $~~184~~309.18 million, respectively.

Maintenance for our vessels and expenses related to drydocking expenses are reimbursed at cost by Navios Partners to ~~the~~Navios ~~Manager~~Shipmanagement Inc. and its affiliates under the Management Agreements.

Maintenance and Replacement Capital Expenditures Reserve

The reserves for estimated maintenance and replacement capital expenditures for the three and ~~six~~nine month periods ended ~~June~~September 30, 2024 were $66.16 million and $~~134~~201.40 million, respectively. We estimate that our annual replacement reserve for the year ending December 31, 2024 will be approximately $~~267~~265.4 million, for replacing our vessels at the end of their useful lives. The reserves for estimated maintenance and replacement capital expenditures for the three and ~~six~~nine month periods ended ~~June~~September 30, 2023 were $56.71 million and $~~113~~169.01 million, respectively.

The amount for estimated replacement capital expenditures attributable to future vessel replacement was based on the following assumptions: (i) current market price to purchase a five-year-old vessel of similar size and specifications; (ii) a ~~25-year useful life for dry bulk and tanker vessels and a 30-year useful life for containerships; and (iii) a relative net investment rate.~~

The amount for estimated maintenance capital expenditures attributable to future vessel drydocking and special survey was based on certain assumptions including the remaining useful life of the owned vessels of our fleet, market costs of drydocking and special survey and a relative net investment rate.

25-year useful life for dry bulk and tanker vessels and a 30-year useful life for containerships; and (iii) a relative net investment rate.

Our Board of Directors, with the approval of the Conflicts Committee, may determine that one or more of our assumptions should be revised, which could cause our Board of Directors to increase or decrease the amount of estimated maintenance and replacement capital expenditures. The actual cost of replacing the vessels in our fleet will depend on a number of factors, including prevailing market conditions, charter hire rates and the availability and cost of financing at the time of replacement. We may elect to finance some or all of our maintenance and replacement capital expenditures through the issuance of additional common units, which could be dilutive to existing unitholders.

Limitations on Cash Distributions and Our Ability to Change Our Cash Distribution Policy

There is no guarantee that unitholders will receive quarterly distributions from us on the common units on any quarter.

Our ability to make distributions to our unitholders depends on the performance of our subsidiaries and their ability to distribute funds to us. The ability of our subsidiaries to make distributions to us may be restricted by, among other things, the provisions of existing and future indebtedness, applicable partnership and limited liability company laws and other laws and regulations.

See Note 1213 – Cash distributions and earnings per unit to the unaudited condensed consolidated financial statements included elsewhere in this report.

Quantitative and Qualitative Disclosures about Market Risks

Foreign Exchange Risk

Our functional and reporting currency is the U.S. dollar. We engage in worldwide commerce with a variety of entities. Although our operations may expose us to certain levels of foreign currency risk, our transactions are predominantly U.S. dollar denominated. Transactions in currencies other than U.S. dollars are translated at the exchange rate in effect at the date of each transaction. Differences in exchange rates during the period between the date a transaction denominated in a foreign currency is consummated and the date on which it is either settled or translated, are recognized.

Interest Rate Risk

Interest rates have increased significantly as central banks in Europe, United States and other developed countries have raised interest rates in an effort to reduce the inflation effect. The tighter monetary policy and higher long-term interest rates result in a higher cost of capital for our business.

Borrowings under certain of our credit facilities and financial liabilities bear interest at a rate based on a premium over Secured Overnight Financing Rate (“SOFR”). Therefore, we are exposed to the risk that our interest expense may increase if interest rates rise. For the ~~six~~nine month periods ended ~~June~~September 30, 2024 and 2023, we paid interest on our outstanding debt at a weighted average interest rate of 7.1% and 7.23%, respectively. A 1% increase in SOFR would have increased our interest expense for the ~~six~~nine month periods ended ~~June~~September 30, 2024 and 2023 by $610.46 million and $710.3 million, respectively.

Concentration of Credit Risk

Financial instruments, which potentially subject us to significant concentrations of credit risk, consist principally of trade accounts receivable. We closely monitor our exposure to customers for credit risk. We have policies in place to ensure that we trade with customers with an appropriate credit history.

For ~~each of~~ the ~~six~~nine month ~~periods~~period ended ~~June~~September 30, 2024, ~~and~~ZIM Integrated Shipping Services Ltd. represented approximately 10.3% of our total revenues. For the nine month period ended September 30, 2023, no customer accounted for 10.0% or more of our total revenues. No other customers accounted for 10.0% or more of our total revenues for any of the periods presented.

If we lose a charter, we may be unable to re-deploy the related vessel on terms as favorable to us due to the long-term nature of most charters and the cyclical nature of the industry or we may be forced to charter the vessel on the spot market at then market rates which may be less favorable than the charter that has been terminated. If we are unable to re-deploy a vessel for which the charter has been terminated, we will not receive any revenues from that vessel, but we may be required to pay expenses necessary to maintain the vessel in proper operating condition. If we lose a vessel, any replacement or newbuilding would not generate revenues during its construction acquisition period, and we may be unable to charter any replacement vessel on terms as favorable to us as those of the terminated charter.

Even if we successfully charter our vessels in the future, our charterers may go bankrupt or fail to perform their obligations under the charter agreements, they may delay payments or suspend payments altogether, they may terminate the charter agreements prior to the agreed-upon expiration date or they may attempt to renegotiate the terms of the charters. The permanent loss of a customer, time charter or vessel, or a decline in payments under our charters, could have a material adverse effect on our business, results of operations and financial condition and our ability to make cash distributions in the event we are unable to replace such customer, time charter or vessel. For further details, please read “Risk Factors” in our Annual Report.

Recent Accounting Pronouncements

The Company’s recent accounting pronouncements are included in the accompanying notes to the unaudited condensed consolidated financial statements included elsewhere in this report.

Critical Accounting Policies

Our financial statements have been prepared in accordance with U.S. GAAP. The preparation of these financial statements requires us to make estimates in the application of our accounting policies based on the best assumptions, judgments and opinions of management. Actual results may differ from these estimates under different assumptions or conditions.

Critical accounting policies are those that reflect significant judgments or uncertainties, and potentially result in materially different results under different assumptions and conditions. All significant accounting policies are as described in Note 2 – Summary of significant accounting policies to the notes to the consolidated financial statements included in the Company’s Annual Report and in Note 2 – Summary of significant accounting policies included in the accompanying notes to the unaudited condensed consolidated financial statements included elsewhere in this report.

Exhibit List

ExhibitNo.		Description
99.1*		~~Master~~Loan ~~Management~~ Agreement No 491, ~~between~~dated ~~Navios~~September ~~Maritime~~27 ~~Partners~~2024, Lby and among Theros Ventures Limited, Samothrace Shipping Corporation, Fantastiks Shipping Corporation, Spetses Marine Shipping Corporation as joint and several Borrowers and Eurobank S.PA. as Agent and ~~Navios~~Security ~~Shipmanagement~~Trustee ~~Inc.~~and the Banks and Financial Institutions as listed therein
99.2*		~~Administrative~~Term ~~Services~~Loan Facility Agreement, dated ~~August~~September ~~16,~~19 2024, ~~between~~by ~~Navios~~and ~~Maritime~~among ~~Partners~~Samos LShipping Corporation, Shinyo Saowalak Limited, Shinyo Kieran Limited, Lefkada Shipping Corporation, Jaspero Shiptrade S.PA., Thetida Marine Co., Elafonisos Shipping Corporation as joint and ~~Navios~~several ~~Shipmanagement~~Borrowers ~~Inc~~and National Bank of Greece S.A. as Lender.
99.3*		Facility Agreement, dated June 26, 2024, among Arkoi Shipping Corporation, Joy Shipping Corporation., Avery Shipping Company, Astypalaia Shipping Corporation, Kinaros Shipping Corporation, Venetiko Shipping Corporation as borrowers and ABN AMRO BANK N.V. as arranger, facility and security agent.

* Filed herewith

INDEX

NAVIOS MARITIME PARTNERS L.P.		Page
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS AS AT JUNE 30, 2024 AND DECEMBER 31, 2023		F-2
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS AS AT SEPTEMBER 30, 2024 AND DECEMBER 31, 2023		F-2
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE THREE AND SIX MONTH PERIODS ENDED JUNE 30, 2024 AND 2023		F-3
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE THREE AND NINE MONTH PERIODS ENDED SEPTEMBER 30, 2024 AND 2023		F-3
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE SIX MONTH PERIODS ENDED JUNE 30, 2024 AND 2023		F-4
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE NINE MONTH PERIODS ENDED SEPTEMBER 30, 2024 AND 2023		F-4
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL FOR THE THREE AND SIX MONTH PERIODS ENDED JUNE 30, 2024 AND 2023		F-6
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL FOR THE THREE AND NINE MONTH PERIODS ENDED SEPTEMBER 30, 2024 AND 2023		F-6
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)		F-7

F-1

NAVIOS MARITIME PARTNERS L.P.

CONDENSED CONSOLIDATED BALANCE SHEETS

(Expressed in thousands of U.S. Dollars except unit data)

	Notes	~~June~~September 30, 2024(unaudited)		December 31, 2023
ASSETS
Current assets
Cash and cash equivalents	3	$	~~271~~293,~~989~~146	$	240,378
Restricted cash	3		~~7,855~~812		8,797
Other investments	3		3837,~~543~~976		47,000
Accounts receivable, net			40,889		42,237
Assets held for sale	4		13,140		—
Prepaid expenses and other current assets	11		59,710		61,336
Accounts receivable, net			27,178		42,237
Amounts due from related parties	11		29,784		—
Prepaid expenses and other current assets	12		52,130		61,336
Total current assets			448,770		399,748
Amounts due from related parties	12		48,478		—
Vessels, net	4		3,860,441		3,734,671
Total current assets			472,860		399,748
Deposits for vessels acquisitions	10		513,262		434,134
Vessels, net	4, 12		4,064,606		3,734,671
Other long-term assets	10		66,083		62,111
Deposits for vessels acquisitions	11, 12		477,376		434,134
Deferred drydock and special survey costs, net	11		153,279		145,932
Other long-term assets	11, 12		67,542		62,111
Amounts due from related parties	11		—		39,570
Deferred drydock and special survey costs, net	12		169,455		145,932
Intangible assets	5		51,352		60,431
Amounts due from related parties	12		—		39,570
Operating lease assets	13		255,847		270,969
Intangible assets	5		46,813		60,431
Total non-current assets			4,900,264		4,747,818
Operating lease assets	14		249,881		270,969
Total assets		$	5,349,034	$	5,147,566
Total non-current assets			5,075,673		4,747,818
Total assets		$	5,548,533	$	5,147,566
LIABILITIES AND PARTNERS' CAPITAL
Current liabilities
Accounts payable		$	1817,~~363~~775	$	25,488
Accrued expenses			2223,~~657~~049		23,608
Deferred revenue			5462,~~734~~905		63,306
Operating lease liabilities, current portion	1314		2425,~~925~~258		30,136
Amounts due to related parties	1112		—		32,026
Current portion of financial liabilities, net	6		~~207~~116,~~302~~404		138,696
Current portion of long-term debt, net	6		~~322~~173,~~349~~470		146,340
Total current liabilities			~~650~~418,~~330~~861		459,600
Operating lease liabilities, net	1314		~~228~~221,~~097~~608		240,602
Unfavorable lease terms	5		2118,~~677~~471		27,984
Long-term financial liabilities, net	6		~~753~~853,~~531~~830		824,646
Long-term debt, net	6		~~684~~938,~~032~~581		751,781
Deferred revenue			6158,~~646~~798		63,915
Other long-term liabilities			1214,~~519~~958		8,586
Total non-current liabilities			12,~~761~~106,~~502~~246		1,917,514
Total liabilities		$	2,~~411~~525,~~832~~107	$	2,377,114
Commitments and contingencies	1011		—		—
Partners' capital:
Common Unitholders (30,083,850 and 30,184,388 common units outstanding as of June 30, 2024 and December 31, 2023, respectively)	1, 8		2,887,751		2,724,436
Common Unitholders (29,887,933 and 30,184,388 common units outstanding as of September 30, 2024 and December 31, 2023, respectively)	1, 9		2,972,051		2,724,436
General Partner (622,296 general partnership units outstanding at each of June 30, 2024 and December 31, 2023)	1		49,451		46,016
General Partner (622,296 general partnership units outstanding at each of September 30, 2024 and December 31, 2023)	1		51,375		46,016
Total partners’ capital			23,~~937~~023,~~202~~426		2,770,452
Total liabilities and partners’ capital		$	5,~~349~~548,~~034~~533	$	5,147,566

See unaudited notes to the condensed consolidated financial statements

F-2

NAVIOS MARITIME PARTNERS L.P.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Expressed in thousands of U.S. Dollars except ~~unit and~~ per unit data)

		Three Month Period Ended June 30, 2024			Three Month Period Ended June 30, 2023			Six Month Period Ended June 30, 2024			Six Month Period Ended June 30, 2023
		Three Month Period Ended September 30, 2024			Three Month Period Ended September 30, 2023			Nine Month Period Ended September 30, 2024			Nine Month Period Ended September 30, 2023
	Notes	(unaudited)			(unaudited)			(unaudited)			(unaudited)
Time charter and voyage revenues	2, 1112, 1314	$	~~342~~340,~~155~~835		$	~~346~~323,~~938~~176		$	~~660~~1,~~710~~001,545		$	~~656~~979,~~460~~636
Time charter and voyage expenses	1314		(4034,~~044~~941	)		(4139,~~956~~877	)		(81116,~~955~~896	)		(81121,~~719~~596	)
Direct vessel expenses	1112		(18,~~916~~115	)		(1715,~~764~~941	)		(3654,~~469~~584	)		(3248,~~204~~145	)
Vessel operating expenses (entirely through related parties transactions)	1112		(8588,~~271~~963	)		(82,~~550~~856	)		(~~170~~259,~~193~~156	)		(~~165~~248,~~766~~622	)
General and administrative expenses	1112		(2021,~~584~~102	)		(2019,~~536~~524	)		(4162,~~328~~430	)		(4059,~~035~~559	)
Depreciation and amortization of intangible assets	4, 5		(5657,~~314~~674	)		(54,~~037~~513	)		(~~111~~169,~~884~~558	)		(~~108~~162,~~255~~768	)
Amortization of unfavorable lease terms	5		3,~~171~~206			53,~~322~~521			69,~~307~~513			1216,~~910~~431
Gain on sale of vessels, net	4		71,~~256~~241			107,~~151~~170			910,~~133~~374			4350,~~601~~771
Interest expense and finance cost, net	147		(3032,~~087~~608	)		(3331,~~330~~849	)		(5992,~~496~~104	)		(68100,~~854~~703	)
Interest income			3,~~596~~394			23,~~483~~314			610,~~992~~386			47,~~100~~414
Other expense, net			(3,493	)		(2,413	)		(6,987	)		(8,765	)
Other income/ (expense), net			2,482			(2,840	)		(4,505	)		(11,605	)
Net income		$	~~101~~97,~~469~~755		$	~~112~~89,~~308~~781		$	~~174~~272,~~830~~585		$	~~211~~301,~~473~~254

Three Month Period Ended June 30, 2024

Three Month Period Ended June 30, 2023

Six Month Period Ended June 30, 2024

Six Month Period Ended June 30, 2023

Three Month Period Ended September 30, 2024

Three Month Period Ended September 30, 2023

Nine Month Period Ended September 30, 2024

Nine Month Period Ended September 30, 2023

Net income

(unaudited)

Common Unitholders

9995,~~439~~800

~~110~~87,~~062~~985

~~171~~267,~~333~~133

~~207~~295,~~245~~230

General Partner

21,~~030~~955

21,~~246~~796

35,~~497~~452

46,~~228~~024

Net income

~~101~~97,~~469~~755

~~112~~89,~~308~~781

~~174~~272,~~830~~585

~~211~~301,~~473~~254

	Three Month Period Ended June 30, 2024		Three Month Period Ended June 30, 2023		Six Month Period Ended June 30, 2024		Six Month Period Ended June 30, 2023
	Three Month Period Ended September 30, 2024		Three Month Period Ended September 30, 2023		Nine Month Period Ended September 30, 2024		Nine Month Period Ended September 30, 2023
Earnings per unit (see Note 12):	(unaudited)		(unaudited)		(unaudited)		(unaudited)
Earnings per unit (see Note 13):	(unaudited)		(unaudited)		(unaudited)		(unaudited)
Earnings per common unit, basic	$	3.3020	$	32.6592	$	58.6887	$	69.8778
Earnings per common unit, diluted	$	3.3020	$	32.6591	$	58.6887	$	69.8778

See unaudited notes to the condensed consolidated financial statements

F-3

NAVIOS MARITIME PARTNERS L.P.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Expressed in thousands of U.S. Dollars)

		Six Month Period Ended June 30, 2024			Six Month Period Ended June 30, 2023
		Nine Month Period Ended September 30, 2024			Nine Month Period Ended September 30, 2023
	Notes	(unaudited)			(unaudited)
OPERATING ACTIVITIES:
Net income		$	~~174~~272,~~830~~585		$	~~211~~301,~~473~~254
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of intangible assets	4, 5		~~111~~169,~~884~~558			~~108~~162,~~255~~768
Amortization of unfavorable lease terms	5		(69,~~307~~513	)		(1216,~~910~~431	)
Non-cash amortization of deferred revenue and straight line			(58,~~057~~717	)		2945,~~248~~222
Amortization of operating lease assets/ liabilities	1314		(2,~~594~~784	)		57,~~146~~769
Amortization and write-off of deferred finance costs and discount			35,~~709~~900			35,~~618~~243
Amortization of deferred drydock and special survey costs			3045,~~252~~436			1830,~~865~~395
Gain on sale of vessels, net	4		(910,~~133~~374	)		(4350,~~601~~771	)
Stock-based compensation			—			23
Changes in operating assets and liabilities:
Decrease in accounts receivable			115,~~348~~059			4336,~~566~~697
Decrease in prepaid expenses and other current assets			19,~~628~~099			97,~~248~~068
Decrease/ (increase) in amounts due from related parties (including current and non-current portion)	11		10,050			(1,765	)
(Increase)/ decrease in amounts due from related parties (including current and non-current portion)	12		(8,440	)		16
Payments for drydock and special survey costs			(3871,~~590~~731	)		(4066,~~856~~069	)
Decrease in accounts payable			(7,~~128~~716	)		(79,~~971~~681	)
(Decrease)/ increase in accrued expenses			(~~950~~558	)		76,~~846~~142
(Decrease)/ increase in deferred revenue			(6,021	)		2,930
Increase/ (decrease) in deferred revenue			2,756			(6,261	)
Decrease in amounts due to related parties	1112		(32,006	)		(104,751	)
Net cash provided by operating activities			~~225~~368,~~915~~554			~~228~~348,~~343~~613
INVESTING ACTIVITIES:
Net cash proceeds from sale of vessels	4		91103,~~400~~944			~~215~~237,~~839~~422
Other investments	3		89,~~457~~024			—
Deposits for acquisition/ option to acquire vessel	1011		(~~182~~226,~~627~~258	)		(~~113~~225,~~600~~915	)
Acquisition of/ additions to vessels	4, 1112		(~~211~~500,~~187~~674	)		(7083,~~574~~930	)
Net cash (used in)/ provided by investing activities			(293,957	)		31,665
Net cash used in investing activities			(613,964	)		(72,423	)
FINANCING ACTIVITIES:
Cash distributions paid	1213		(34,~~080~~611	)		(34,~~080~~620	)
Repayment of long-term debt and financial liabilities	6		(~~199~~361,~~256~~636	)		(~~635~~708,~~795~~111	)
Payments of deferred finance costs	6		(47,~~973~~751	)		(1213,~~227~~187	)
Proceeds from long-term debt and financial liabilities	6		~~311~~679,~~020~~191			~~486~~543,~~048~~803
Acquisition of treasury units	89		(515,000	)		—
Net cash provided by/ (used in) financing activities			98290,~~711~~193			(~~165~~182,~~054~~115	)
Increase in cash, cash equivalents and restricted cash			3044,~~669~~783			94,~~954~~075
Cash, cash equivalents and restricted cash, beginning of period			249,175			175,098
Cash, cash equivalents and restricted cash, end of period		$	~~279~~293,~~844~~958		$	~~270~~269,~~052~~173

See unaudited notes to the condensed consolidated financial statements

F-4

NAVIOS MARITIME PARTNERS L.P.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Expressed in thousands of U.S. Dollars)

	Six Month Period Ended June 30, 2024			Six Month Period Ended June 30, 2023
	Nine Month Period Ended September 30, 2024			Nine Month Period Ended September 30, 2023
	(unaudited)			(unaudited)
Supplemental disclosures of cash flow information
Cash interest paid	$	67101,~~978~~160		$	72108,~~992~~843
Non cash financing activities
Stock-based compensation	$	—		$	23
Financial and finance lease liabilities	$	27,463		$	~~173~~202,~~010~~373
Non cash investing activities
Deposits for acquisition/ option to acquire vessel	$	~~101~~180,~~687~~286		$	—
Acquisition of vessels	$	(~~138~~252,~~800~~267	)	$	(~~201~~230,~~129~~257	)

See unaudited notes to the condensed consolidated financial statements

F-5

NAVIOS MARITIME PARTNERS L.P.

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL

(Expressed in thousands of U.S. Dollars except unit and per unit data)

	Limited Partners											Total
	General Partner					Common Unitholders						Partners'
	Units		Amount			Units			Amount			Capital
Balance, December 31, 2023		622,296	$	46,016			30,184,388		$	2,724,436		$	2,770,452
Cash distribution paid ($0.05 per unit—see Note 12)		—		(31	)		—			(1,509	)		(1,540	)
Cash distribution paid ($0.05 per unit—see Note 13)		—		(31	)		—			(1,509	)		(1,540	)
Net income		—		1,467			—			71,894			73,361
Balance, March 31, 2024		622,296	$	47,452			30,184,388		$	2,794,821		$	2,842,273
Cash distribution paid ($0.05 per unit—see Note 12)		—		(31	)		—			(1,509	)		(1,540	)
Cash distribution paid ($0.05 per unit—see Note 13)		—		(31	)		—			(1,509	)		(1,540	)
Acquisition of treasury units (see Note 8)		—		—			(100,538	)		(5,000	)		(5,000	)
Acquisition of treasury units (see Note 9)		—		—			(100,538	)		(5,000	)		(5,000	)
Net income		—		2,030			—			99,439			101,469
Balance, June 30, 2024		622,296	$	49,451			30,083,850		$	2,887,751		$	2,937,202
Cash distribution paid ($0.05 per unit—see Note 13)		—		(31	)		—			(1,500	)		(1,531	)
Acquisition of treasury units (see Note 9)		—		—			(195,917	)		(10,000	)		(10,000	)
Net income		—		1,955			—			95,800			97,755
Balance, September 30, 2024		622,296	$	51,375			29,887,933		$	2,972,051		$	3,023,426

	Limited Partners										Total
	General Partner					Common Unitholders					Partners'
	Units		Amount			Units		Amount			Capital
Balance, December 31, 2022		622,296	$	37,469			30,184,388	$	2,305,494		$	2,342,963
Cash distribution paid ($0.05 per unit—see Note 12)		—		(31	)		—		(1,509	)		(1,540	)
Cash distribution paid ($0.05 per unit—see Note 13)		—		(31	)		—		(1,509	)		(1,540	)
Stock-based compensation		—		—			—		1			1
Net income		—		1,982			—		97,183			99,165
Balance, March 31, 2023		622,296	$	39,420			30,184,388	$	2,401,169		$	2,440,589
Cash distribution paid ($0.05 per unit—see Note 12)		—		(31	)		—		(1,509	)		(1,540	)
Cash distribution paid ($0.05 per unit—see Note 13)		—		(31	)		—		(1,509	)		(1,540	)
Stock-based compensation		—		—			—		1			1
Net income		—		2,246			—		110,062			112,308
Balance, June 30, 2023		622,296	$	41,635			30,184,388	$	2,509,723		$	2,551,358
Cash distribution paid ($0.05 per unit—see Note 13)		—		(31	)		—		(1,509	)		(1,540	)
Stock-based compensation		—		—			—		1			1
Net income		—		1,796			—		87,985			89,781
Balance, September 30, 2023		622,296	$	43,400			30,184,388	$	2,596,200		$	2,639,600

See unaudited notes to the condensed consolidated financial statements

F-6

NAVIOS MARITIME PARTNERS L.P.

UNAUDITED NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Expressed in thousands of U.S. Dollars except unit and per unit data)

NOTE 1 – DESCRIPTION OF BUSINESS

Navios Maritime Partners L.P. (“Navios Partners” or the “Company”), is an international owner and operator of dry cargo and tanker vessels, formed on August 7, 2007 under the laws of the Republic of the Marshall Islands.

Navios Partners is engaged in the seaborne transportation services of a wide range of liquid and dry cargo commodities including crude oil, refined petroleum, chemicals, iron ore, coal, grain, fertilizer and also containers, chartering its vessels under short, medium and longer-term charters. The operations of Navios Partners are managed by Navios Shipmanagement Inc. and its affiliates, (the “Manager”), which are entities affiliated with the Company’s Chairwoman and Chief Executive Officer (see Note 1112 – Transactions with related parties and affiliates).

As of ~~June~~September 30, 2024, there were outstanding 3029,~~083~~887,~~850~~933 common units and 622,296 general partnership units. Angeliki Frangou, our Chief Executive Officer and Chairwoman beneficially owns an approximately 16.89% common interest of the total outstanding common units including 4,672,314 common units held through four entities affiliated with her. An entity affiliated with Angeliki Frangou beneficially owns 622,296 general partnerships units, representing an approximately 2.0% ownership interest in Navios Partners based on all outstanding common units and general partnership units (see Note 1112 – Transactions with related parties and affiliates).

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(a)

~~(a)~~ Basis of presentation: The accompanying interim condensed consolidated financial statements are unaudited, but, in the opinion of management, reflect all adjustments for a fair statement of Navios Partners’ consolidated balance sheets, statement of partners’ capital, statements of operations and cash flows for the periods presented. The results of operations for the interim periods are not necessarily indicative of results for the full year. The footnotes are condensed as permitted by the requirements for interim financial statements and accordingly, do not include information and disclosures required under United States generally accepted accounting principles (“U.S. GAAP”) for complete financial statements. All such adjustments are deemed to be of a normal recurring nature. These interim financial statements should be read in conjunction with the Company’s consolidated financial statements and notes included in Navios Partners’ annual report for the year ended December 31, 2023 filed on Form 20-F on April 3, 2024 (the “Annual Report”) with the U.S. Securities and Exchange Commission (“SEC”).

Based on internal forecasts and projections that take into account reasonably possible changes in Company’s trading performance, management believes that the Company has adequate financial resources, including cash from sale of vessels (see Note 154 – ~~Subsequent~~Vessels, ~~events~~net) to continue in operation and meet its financial commitments, including but not limited to capital expenditures and debt service obligations, for a period of at least 12 months from the date of issuance of these condensed consolidated financial statements. Accordingly, the Company continues to adopt the going concern basis in preparing its financial statements.

Following Russia’s invasion of Ukraine in February 2022, the United States, the European Union, the United Kingdom and other countries have announced sanctions against Russia, and may impose wider sanctions and take other actions in the future. To date, no apparent consequences have been identified on the Company’s business. It should be noted that since the Company employs Ukrainian and Russian seafarers, it may face problems in relation to their employment, repatriation, salary payments and be subject to claims in this regard. In addition, the increased attacks in the Red Sea caused ships to avoid the use of the Red Sea and transits of the Suez Canal. Notwithstanding the foregoing and Israel’s war in Gaza, it is possible that these tensions and activities might eventually have an adverse impact on the Company’s business, financial condition, results of operations and cash flows.

Interest rates have increased significantly as central banks in Europe, United States and other developed countries have raised interest rates. The tighter monetary policy and higher long-term interest rates result in a higher cost of capital for the Company.

(b)

~~(b)~~ Principles of consolidation: The accompanying interim condensed consolidated financial statements include Navios Partners’ wholly owned subsidiaries incorporated under the laws of the Republic of the Marshall Islands, Liberia, Malta, Delaware, Cayman Islands, Hong Kong, British Virgin Islands, Luxemburg and Belgium from their dates of incorporation or from the date of acquiring control or, for chartered-in vessels, from the dates charter-in agreements were in effect. All significant inter-company balances and transactions have been eliminated in Navios Partners’ condensed consolidated financial statements.

F-7

NAVIOS MARITIME PARTNERS L.P.

UNAUDITED NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Expressed in thousands of U.S. Dollars except unit and per unit data)

Navios Partners also consolidates entities that are determined to be variable interest entities (“VIE”) as defined in the accounting guidance, if it determines that it is the primary beneficiary. A VIE is defined as a legal entity where either (i) equity interest holders as a group lack the characteristics of a controlling financial interest, including decision making ability and an interest in the entity’s residual risks and rewards, (ii) the equity holders have not provided sufficient equity investment to permit the entity to finance its activities without additional subordinated financial support, or (iii) the voting rights of some investors are not proportional to their obligations to absorb the expected losses of the entity, their rights to receive the expected residual returns of the entity, or both and substantially all of the entity’s activities either involve or are conducted on behalf of an investor that has disproportionately few voting rights.

Subsidiaries: Subsidiaries are those entities in which Navios Partners has an interest of more than one half of the voting rights or otherwise has power to govern the financial and operating policies of the entity.

A discussion of the Company’s significant accounting policies can be found in Note 2 – Summary of significant accounting policies to the Company’s consolidated financial statements included in the Annual Report. There have been no material changes to these policies in the ~~six~~nine month period ended ~~June~~September 30, 2024., apart from those discussed below:

~~(c)~~Treasury ~~Revenue~~units: Treasury units are units that are repurchased by the issuing entity, reducing the number of outstanding units in the open market. When units are repurchased, they may either be cancelled or held for reissue. If not cancelled, such units are referred to as treasury units. Treasury units are essentially the same as unissued capital and ~~Expense~~reduces ~~Recognition:~~ordinary partners’ capital. The cost of the acquired units is shown as a deduction from common unitholders’ capital. Dividends on such units held in the entity’s treasury are not reflected as income and not shown as a reduction in partners’ capital. Gains and losses on sales of treasury units are accounted for as adjustments to partners’ capital and not as part of income. Depending on whether the units are acquired for reissuance or retirement, treasury units is accounted for under the cost method or the constructive retirement method. The cost method is also used, when reporting entity management has not made decisions as to whether the reacquired units will be retired, held indefinitely or reissued. The Company has elected for the repurchase of its common units to be accounted for under the cost method. Under this method, the treasury units account is charged for the aggregate cost of units reacquired.

(c)

Revenue and Expense Recognition:

Revenue from time chartering and bareboat chartering

Revenues from time chartering and bareboat chartering of vessels are accounted for as operating leases and are thus recognized on a straight line basis as the average lease revenue over the rental periods of such charter agreements, as service is performed. A time charter involves placing a vessel at the charterers’ disposal for a period of time during which the charterer uses the vessel in return for the payment of a specified daily hire rate. Short period charters for less than three months are referred to as spot-charters. Charters extending three months to a year are generally referred to as medium-term charters. All other charters are considered long-term. The Company has determined to recognize lease revenue as a combined single lease component for all time charters (operating leases) as the related lease component and non-lease components will have the same timing and pattern of the revenue recognition of the combined single lease component. The performance obligations in a time charter contract are satisfied over term of the contract beginning when the vessel is delivered to the charterer until it is redelivered back to the Company. Under time charters, operating costs such as for crews, maintenance and insurance are typically paid by the owner of the vessel. Revenue from time chartering and bareboat chartering of vessels amounted to $~~301~~318,~~435~~068 and $~~300~~287,~~689~~912 for the three month periods ended ~~June~~September 30, 2024 and 2023, respectively. Revenue from time chartering and bareboat chartering of vessels amounted to $~~571~~889,~~696~~764 and $~~568~~856,~~361~~273 for the ~~six~~nine month periods ended ~~June~~September 30, 2024 and 2023, respectively.

Revenue from voyage charters

Under a voyage charter, a vessel is provided for the transportation of specific goods between specific ports in return for payment of an agreed upon freight per ton of cargo. ~~Upon~~In ~~adoption~~accordance ofwith ASC 606, the Company recognizes revenue ratably from port of loading to when the charterer’s cargo is discharged as well as defer costs that meet the definition of “costs to fulfill a contract” and relate directly to the contract. Revenue from voyage contracts amounted to $3213,~~729~~532 and $3125,~~302~~420 for the three month periods ended ~~June~~September 30, 2024 and 2023, respectively. Revenue from voyage contracts amounted to $7084,~~870~~402 and $5580,~~052~~472 for the ~~six~~nine month periods ended ~~June~~September 30, 2024 and 2023, respectively.

Revenue from pooling arrangements

For vessels operating in pooling arrangements, the Company earns a portion of total revenues generated by the pool, net of expenses incurred by the pool. The amount allocated to each pool participant vessel, including the Company’s vessels, is determined in accordance with an agreed-upon formula, which is determined by points awarded to each vessel in the pool based on the vessel’s age, design and other performance characteristics. Revenue under pooling arrangements is accounted for as variable rate operating leases under the scope of ASC 842 and is recognized for the applicable period when collectability is reasonably assured. The allocation of such net revenue may be subject to future adjustments by the pool however, such changes are not expected to be material. The Company recognizes net pool revenue on a monthly and quarterly basis, when the vessel has participated in a pool during the period and the amount of pool revenue can be estimated reliably based on the pool report. Revenue from vessels operating in pooling arrangements amounted to $7,991 and $14,947 for the three month periods ended June 30, 2024 and 2023, respectively. Revenue from vessels operating in pooling arrangements amounted to $18,144 and $32,997 for the six month periods ended June 30, 2024 and 2023, respectively.

F-8

NAVIOS MARITIME PARTNERS L.P.

UNAUDITED NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Expressed in thousands of U.S. Dollars except unit and per unit data)

Revenue from pooling arrangements

For vessels operating in pooling arrangements, the Company earns a portion of total revenues generated by the pool, net of expenses incurred by the pool. The amount allocated to each pool participant vessel, including the Company’s vessels, is determined in accordance with an agreed-upon formula, which is determined by points awarded to each vessel in the pool based on the vessel’s age, design and other performance characteristics. Revenue under pooling arrangements is accounted for as variable rate operating leases under the scope of ASC 842 and is recognized for the applicable period when collectability is reasonably assured. The allocation of such net revenue may be subject to future adjustments by the pool however, such changes are not expected to be material. The Company recognizes net pool revenue on a monthly and quarterly basis, when the vessel has participated in a pool during the period and the amount of pool revenue can be estimated reliably based on the pool report. Revenue from vessels operating in pooling arrangements amounted to $9,235 and $9,818 for the three month periods ended September 30, 2024 and 2023, respectively. Revenue from vessels operating in pooling arrangements amounted to $27,379 and $42,815 for the nine month periods ended September 30, 2024 and 2023, respectively.

Revenue from profit-sharing

Profit-sharing revenues are calculated at an agreed percentage of the excess of the charterer’s average daily income (calculated on a quarterly or semi-annual basis) over an agreed amount and accounted for on an accrual basis based on provisional amounts and for those contracts that provisional accruals cannot be made due to the nature of the profit sharing elements, these are accounted for on the actual cash settlement or when such revenue becomes determinable. Profit-sharing revenue amounted to $0 ~~for~~and ~~each~~$26 offor the three month periods ended ~~June~~September 30, 2024 and 2023, respectively. Profit-sharing revenue amounted to $0 and $5076 for the ~~six~~nine month periods ended ~~June~~September 30, 2024 and 2023, respectively.

Revenues are recorded net of address commissions. Address commissions represent a discount provided directly to the charterers based on a fixed percentage of the agreed upon charter or freight rate. Since address commissions represent a discount (sales incentive) on services rendered by the Company and no identifiable benefit is received in exchange for the consideration provided to the charterer, these commissions are presented as a reduction of revenue.

Recent Accounting Pronouncements:

These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in Navios Partners’ Annual Report.

NOTE 3 – CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AND OTHER INVESTMENTS

	June 30, 2024		December 31, 2023
	September 30, 2024		December 31, 2023
Cash and cash equivalents	$	~~271~~293,~~989~~146	$	240,378
Restricted cash		~~7,855~~812		8,797
Total cash and cash equivalents and restricted cash	$	~~279~~293,~~844~~958	$	249,175

Restricted cash relates to amounts held in retention accounts in order to service debt and interest payments, as required by certain of the Company’s credit facilities and financial liabilities.

Cash deposits and cash equivalents in excess of amounts covered by government-provided insurance are exposed to loss in the event of non-performance by financial institutions. Navios Partners does maintain cash deposits and equivalents in excess of government-provided insurance limits. Navios Partners also minimizes exposure to credit risk by dealing with a diversified group of major financial institutions.

Other investments consist of time deposits with original maturities of greater than three months and less than 12 months. As of ~~June~~September 30, 2024 and December 31, 2023, other investments amounted to $3837,~~543~~976 and $47,000, respectively.

NOTE 4 – VESSELS, NET

Total Vessels	Cost			AccumulatedDepreciation			NetBook Value
Balance December 31, 2023	$	4,423,461		$	(688,790	)	$	3,734,671
Additions/ Remeasurement of finance lease liability/ (Depreciation)		349,987			(102,604	)		247,383
Disposals		(146,341	)		24,728			(121,613	)
Balance June 30, 2024	$	4,627,107		$	(766,666	)	$	3,860,441

The above balances as of June 30, 2024 are analyzed in the following tables:

Owned Vessels	Cost			AccumulatedDepreciation			NetBook Value
Balance December 31, 2023	$	3,782,032		$	(656,531	)	$	3,125,501
Additions/ (Depreciation)		324,561			(89,988	)		234,573
Disposals		(101,640	)		20,364			(81,276	)
Balance June 30, 2024	$	4,004,953		$	(726,155	)	$	3,278,798

F-9

NAVIOS MARITIME PARTNERS L.P.

UNAUDITED NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Expressed in thousands of U.S. Dollars except unit and per unit data)

Right-of-use assets under finance lease	Cost			AccumulatedDepreciation			NetBook Value
Balance December 31, 2023	$	641,429		$	(32,259	)	$	609,170
Remeasurement of finance lease liability/ (Depreciation)		25,426			(12,616	)		12,810
Transfers to owned vessels		(44,701	)		4,364			(40,337	)
Balance June 30, 2024	$	622,154		$	(40,511	)	$	581,643

NOTE 4 – VESSELS, NET

Right-of-use assets under finance leases are calculated at an amount equal to the finance liability, increased with the allocated excess value, the initial direct costs and adjusted for the carrying amount of the straight-line effect of liability as well as the favorable and unfavorable lease terms derived from charter-in agreements. Following the declarations of the Company’s option to extend the charter period for one year for one Kamsarmax vessel and the option to acquire three Kamsarmax vessels (excluding one Kamsarmax vessel, which was delivered into Navios Partners' fleet in June 2024) and one Ultra-Handymax vessel, the corresponding right-of-use asset under finance lease was increased by the aggregate amount of $26,062, upon remeasurement of the finance lease liability, to $163,216 (see Note 6 – Borrowings).


Total Vessels	Cost			Accumulated Depreciation			Net Book Value
Balance December 31, 2023	$	4,423,461		$	(688,790	)	$	3,734,671
Additions/ Remeasurement of finance lease liability/ (Depreciation)		752,941			(155,639	)		597,302
Disposals/ Transfers to owned vessels		(298,890	)		44,547			(254,343	)
Transfer to assets held for sale		(13,024	)		—			(13,024	)
Balance September 30, 2024	$	4,864,488		$	(799,882	)	$	4,064,606

~~During~~The ~~the~~above ~~six~~balances ~~month~~as ~~periods~~of ~~ended~~September ~~June~~ 30, 2024 and 2023, the Company capitalized certain extraordinary fees and costs related to vessels’ regulatory requirements, including ballast water treatment system installation, exhaust gas cleaning system installation and other improvements, that amounted to $10,284 and $21,342, respectively, and are ~~presented~~analyzed ~~under the caption “Acquisition of/ additions to vessels”~~ in the ~~condensed~~following ~~Consolidated~~tables: ~~Statements of Cash Flows (see Note 11 – Transactions with related parties and affiliates).~~


Owned Vessels	Cost			Accumulated Depreciation			Net Book Value
Balance December 31, 2023	$	3,782,032		$	(656,531	)	$	3,125,501
Additions/ (Depreciation)		727,515			(138,051	)		589,464
Disposals		(115,970	)		25,163			(90,807	)
Transfer to assets held for sale		(13,024	)		—			(13,024	)
Balance September 30, 2024	$	4,380,553		$	(769,419	)	$	3,611,134


Right-of-use assets under finance lease	Cost			Accumulated Depreciation			Net Book Value
Balance December 31, 2023	$	641,429		$	(32,259	)	$	609,170
Remeasurement of finance lease liability/ (Depreciation)		25,426			(17,588	)		7,838
Transfers to owned vessels		(182,920	)		19,384			(163,536	)
Balance September 30, 2024	$	483,935		$	(30,463	)	$	453,472

Right-of-use assets under finance leases are calculated at an amount equal to the corresponding finance liability, increased with the allocated excess value, the initial direct costs and adjusted for the carrying amount of the straight-line effect of finance liability as well as the favorable and unfavorable lease terms derived from charter-in agreements.

During the nine month periods ended September 30, 2024 and 2023, the Company capitalized certain extraordinary fees and costs related to vessels’ regulatory requirements, including ballast water treatment system installation, exhaust gas cleaning system installation and other improvements, that amounted to $19,346 and $34,470, respectively, and are presented under the caption “Acquisition of/ additions to vessels” in the condensed Consolidated Statements of Cash Flows (see Note 12 – Transactions with related parties and affiliates).

Acquisition of Vessels

2024

During the three month period ended September 30, 2024, Navios Partners paid an amount of $30,762 to acquire from an unrelated third party, on September 2, 2024, the Navios Amber, a 2015-built Kamsarmax vessel of 80,994 dwt, which was previously accounted for as a right-of-use asset under a finance lease. On the same date, the Company derecognized the right-of-use asset under the finance lease and recognized the vessel at an aggregate cost of $42,263.

On August 26, 2024, Navios Partners took delivery of the Zim Seagull, a 2024-built 5,300 TEU Containership from an unrelated third party, for an acquisition cost of $67,181 (including $5,581 capitalized expenses).

On August 12, 2024, Navios Partners took delivery of the Nave Polaris, a 2024-built Aframax/LR2 tanker vessel of 115,699 dwt from an unrelated third party, for an acquisition cost of $67,713 (including $5,055 capitalized expenses).

On July 31, 2024, Navios Partners took delivery of the Zim Pelican, a 2024-built 5,300 TEU Containership, from an unrelated third party, for an acquisition cost of $67,610 (including $6,010 capitalized expenses).

During the nine month period ended September 30, 2024, Navios Partners paid an amount of $29,115 to acquire from an unrelated third party, on July 31, 2024, the Navios Dolphin, a 2017-built Kamsarmax vessel of 81,630 dwt, which was previously accounted for as a right-of-use asset under a finance lease. On the same date, the Company derecognized the right-of-use asset under the finance lease and recognized the vessel at an aggregate cost of $40,834.

F-10

NAVIOS MARITIME PARTNERS L.P.

UNAUDITED NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Expressed in thousands of U.S. Dollars except unit and per unit data)

On July 4, 2024, Navios Partners took delivery of the Zim Falcon, a 2024-built 5,300 TEU Containership, from an unrelated third party, for an acquisition cost of $67,484 (including $5,884 capitalized expenses).

During the nine month period ended September 30, 2024, Navios Partners paid an amount of $29,159 to acquire from an unrelated third party, on July 3, 2024, the Navios Citrine, a 2017-built Kamsarmax vessel of 81,626 dwt, which was previously accounted for as a right-of-use asset under a finance lease. On the same date, the Company derecognized the right-of-use asset under the finance lease and recognized the vessel at an aggregate cost of $40,806.

In June 2024, Navios Partners agreed to acquire from an unrelated third party the Navios Venus, a 2015-built Ultra-Handymax vessel of 61,339 dwt, which was previously chartered-in and accounted for as a right-of-use asset under operating lease. In accordance with the provisions of ASC 842, the Company accounted the transaction as a lease modification and upon reassessment of the classification of the lease, the Company has classified the above transaction as a finance lease, as of the effective date of the modification. Following the reassessment performed, the Company recognized a right-of-use asset at $27,463, being an amount equal to the finance lease liability (see Note 6 – Borrowings). The acquisition is expected to be completed during the fourth quarter of 2024.

OnDuring the three month period ended June 330, 2024, Navios Partners paid an amount of $28,789 ~~and~~to ~~acquired~~acquire from an unrelated third party, on June 3, 2024, the Navios Coral, a 2016-built Kamsarmax vessel of 84,904 dwt, which was previously accounted for as a right-of-use asset under a finance lease. AtOn the same date, the Company derecognized the right-of-use asset under the finance lease and recognized the vessel at an aggregate cost of $40,495.

On June 3, 2024, Navios Partners took delivery of the Zim Hawk, a 2024-built 5,300 TEU Containership, from an unrelated third party, for an acquisition cost of $69,083 (including $6,258 capitalized expenses).

On May 13, 2024, Navios Partners took delivery of the Nave Cosmos, a 2024-built Aframax/LR2 tanker vessel of 115,651 dwt, from an unrelated third party, for an acquisition cost of $67,868 (including $5,210 capitalized expenses).

On April 8, 2024, Navios Partners took delivery of the Zim Condor, a 2024-built 5,300 TEU Containership, from an unrelated third party, for an acquisition cost of $69,143 (including $6,318 capitalized expenses).

On January 25, 2024, Navios Partners took delivery of the Zim Eagle, a 2024-built 5,300 TEU Containership, from an unrelated third party, for an acquisition cost of $67,707 (including $6,107 capitalized expenses).

2023

In August 2023, Navios Partners agreed to acquire from an unrelated third party the Navios Horizon I, a 2019-built Kamsarmax vessel of 81,692 dwt, which was previously chartered-in and accounted for as a right-of-use asset under operating lease. In accordance with the provisions of ASC 842, the Company accounted the transaction as a lease modification and upon reassessment of the classification of the lease, the Company has classified the above transaction as finance lease, as of the effective date of the modification. Following the reassessment performed, the Company recognized a right-of-use asset at $27,561, being an amount equal to the finance lease liability. The acquisition was completed in October 2023.

On June 21, 2023, Navios Partners took delivery of the Navios Amethyst, a 2023-built Capesize vessel of 182,212 dwt, from an unrelated third party, by entering into a 15-year bareboat charter-in agreement which provides for purchase options with de-escalating purchase prices. Navios Partners accounted for the bareboat charter-in agreement as a finance lease, and recognized a right of use asset at $63,690, being an amount equal to the initial measurement of the finance lease liability increased by the amount of $2,346, which was prepaid before the lease commencement.

FOn April 27, 2023, Navios Partners took delivery of the Navios Sakura, a 2023-10built Capesize vessel of 182,169 dwt, from an unrelated third party by entering into a 15-year bareboat charter-in agreement which provides for purchase options with de-escalating purchase prices. Navios Partners accounted for the bareboat charter-in agreement as a finance lease, and recognized a right of use asset at $49,770, being an amount equal to the initial measurement of the finance lease liability increased by the amount of $2,579, which was prepaid before the lease commencement.

On March 29, 2023, Navios Partners took delivery of the Navios Altair, a 2023-built Capesize vessel of 182,115 dwt, from an unrelated third party, by entering into a 15-year bareboat charter-in agreement which provides for purchase options with de-escalating purchase prices. Navios Partners accounted for the bareboat charter-in agreement as a finance lease, and recognized a right-of-use asset at $45,934 being an amount equal to the initial measurement of the finance lease liability, increased by the amount of $2,815, which was prepaid before the lease commencement.

F-11

NAVIOS MARITIME PARTNERS L.P.

UNAUDITED NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Expressed in thousands of U.S. Dollars except unit and per unit data)

On April 27, 2023, Navios Partners took delivery of the Navios Sakura, a 2023-built Capesize vessel of 182,169 dwt, from an unrelated third party by entering into a 15-year bareboat charter-in agreement which provides for purchase options with de-escalating purchase prices. Navios Partners accounted for the bareboat charter-in agreement as a finance lease, and recognized a right of use asset at $49,770, being an amount equal to the initial measurement of the finance lease liability increased by the amount of $2,579, which was prepaid before the lease commencement.

On March 6, 2023, Navios Partners paid an amount of $42,879 (including $1,600 related to the scrubber system installation) and acquired from an unrelated third party, the Navios Felix, a 2016-built scrubber-fitted Capesize vessel of 181,221 dwt, which was previously accounted for as a right-of-use asset under a finance lease. At the same date, the Company derecognized the right-of-use asset under the finance lease and recognized the vessel at an aggregate cost of $53,232.

On February 5, 2023, Navios Partners took delivery of the Navios Meridian, a 2023-built Kamsarmax vessel of 82,010 dwt, from an unrelated third party, for an acquisition cost of $35,605.

Sale of Vessels

2024

During the ~~six~~nine month period ended ~~June~~September 30, 2024, Navios Partners sold ~~four~~five vessels to various unrelated third parties for an aggregate net sales price of $91103,~~400~~944. Following the sale of such vessels, the aggregate amount of $1617,~~747~~988 (including the ~~aggregate~~ remaining carrying balance of drydock and special survey cost of $~~991~~2,763) is presented under the caption “Gain on sale of vessels, net” in the condensed Consolidated Statements of Operations and the condensed Consolidated Statements of Cash Flows.

2023

During the ~~six~~nine month period ended ~~June~~September 30, 2023, Navios Partners sold 1213 vessels to various unrelated third parties for an aggregate net sales price of $~~215~~237,~~839~~422. Following the sale of such vessels and the committed sale of a 2004-built Capesize vessel of 180,310 dwt, as discussed below, the aggregate amount of $4350,~~601~~771 (including the aggregate remaining carrying balance of dry-dock and special survey cost of $11,~~078~~133) including an impairment loss of $168 in connection with the above mentioned committed sale is presented under the caption “Gain on sale of vessels, net” in the condensed Consolidated Statements of Operations and the condensed Consolidated Statements of Cash Flows.

Vessels “agreed to be sold”

2023

On May 10, 2023, Navios Partners agreed to sell a 2008-built LR1 vessel of 63,599 dwt, to an unrelated third party, for a net sales price of $21,583. The sale was completed on July 7, 2023. The aggregate net carrying amount of the vessel amounted to $14,246 at the date of the sale. The vessel was subject to an existing time charter with an unrelated charterer and was not immediately available for sale and therefore, did not qualify as an asset held for sale as of June 30, 2023.

Vessels impairment loss

2024

AsDuring ofthe ~~June~~nine month period ended September 30, 2024, Navios Partners ~~assessed~~agreed ~~whether~~to ~~impairment~~sell ~~indicators~~two ~~for~~2009-built ~~any~~MR2 ofProduct ~~its~~Tanker ~~long-lived~~vessels ~~assets~~of ~~existed~~50,542 dwt and ~~concluded~~50,470 ~~that~~dwt, ~~such~~respectively, ~~indicators~~a ~~were~~2006-built ~~present~~Kamsarmax ~~for~~vessel ~~two~~ of ~~its~~82,790 ~~dry~~dwt, ~~bulk~~and ~~vessels,~~a ~~mainly~~2005-built ~~due~~Panamax tovessel ~~Company’s~~of ~~intention~~76,596 dwt to ~~sell~~various ~~these~~unrelated ~~vessels~~third parties for an aggregate net sales price of $76,265. As of ~~June~~September 30, 2024, the ~~undiscounted~~2009-built ~~projected~~MR2 ~~net~~Product ~~operating~~Tanker ~~cash~~vessel ~~flows~~of 50,542 dwt was not subject to an existing time charter with any charterer and was immediately available for sale and the ~~two~~management ~~vessels~~has ~~did~~committed ~~not~~to ~~exceed~~a plan to sell the ~~carrying~~vessel ~~value~~within the next 12 months. As of ~~each~~September ~~asset~~30, ~~group~~2024, ~~and~~the anabove ~~impairment~~vessel ~~loss~~has been classified as held for sale, according to the provisions of $7ASC 360,~~614~~ ~~was~~as ~~recognized~~the relevant criteria for the classification were met and it is presented under the caption “~~Gain~~Assets onheld ~~sale~~for ~~of vessels, net~~sale” in the condensed Consolidated ~~Statements~~Balance Sheet, measured at the lower of ~~Operations~~carrying value and fair value less costs to sell. The inventories associated with the ~~condensed~~vessel ~~Consolidated~~held ~~Statements~~for sale of ~~Cash~~$108 ~~Flows.~~are ~~The~~presented ~~impairment~~under ~~loss~~the ~~was~~caption ~~calculated~~“Assets asheld for sale” in the ~~difference~~condensed ~~between~~Consolidated Balance Sheet. For the ~~fair~~remaining ~~value~~three ofvessels, the ~~vessel~~Company ~~(see~~has ~~Note~~performed 7an –assessment ~~Fair~~based ~~value~~on provisions of ~~financial~~ASC ~~instruments)~~360 and concluded that the ~~carrying~~held ~~value~~for ofsale criteria were not met and the ~~asset~~vessels ~~group~~were not classified as held for sale as of September 30, 2024. The sales of the four vessels were completed in October 2024 and the aggregate gain on sale of such vessels is expected to be approximately $28,381.

~~F-11~~2023

On September 22, 2023, Navios Partners agreed to sell a 2004-built Capesize vessel of 180,310 dwt, to an unrelated third party, for a net sales price of $12,610. The vessel was not subject to an existing time charter with any charterer and was immediately available for sale and the management has committed to a plan to sell the vessel within the next 12 months. As of September 30, 2023, the vessel has been classified as held for sale, according to the provisions of ASC 360, as the relevant criteria for the classification were met and it is presented under the caption “Assets held for sale” in the condensed Consolidated Balance Sheet, measured at the lower of carrying value and fair value less costs to sell. The inventories associated with the vessel held for sale of $520 are presented under the caption “Assets held for sale” in the condensed Consolidated Balance Sheet. The sale was completed on October 12, 2023.

F-12

NAVIOS MARITIME PARTNERS L.P.

UNAUDITED NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Expressed in thousands of U.S. Dollars except unit and per unit data)

Vessels impairment loss

2024

As at September 30, 2024, Navios Partners assessed whether impairment indicators for any of its long-lived assets existed and concluded that no such indicators were present. As at June 30, 2024, Navios Partners assessed whether impairment indicators for any of its long-lived assets existed and concluded that such indicators were present for two of its dry bulk vessels, mainly due to Company’s intention to sell these vessels. As at June 30, 2024, the undiscounted projected net operating cash flows for the two vessels did not exceed the carrying value of each asset group and an impairment loss was recognized and calculated as the difference between the fair value of the vessel (see Note 8 – Fair value of financial instruments) and the carrying value of the asset group. As a result, the impairment loss of $7,614 was recognized and is presented under the caption “Gain on sale of vessels, net” in the condensed Consolidated Statements of Operations and the condensed Consolidated Statements of Cash Flows for the nine month period ended September 30, 2024.

2023

During the third quarter of 2023, an impairment loss of $168 was recognized in connection with the committed sale of the 2004-built Capesize vessel of 180,310 dwt, in October 2023, as the carrying amount of the asset group was not recoverable and exceeded its fair value less cost to sell, as described above.

NOTE 5 – INTANGIBLE ASSETS AND LIABILITIES

Intangible assets as of ~~June~~September 30, 2024 and December 31, 2023 consisted of the following:

	Cost		AccumulatedAmortization			Net Book Value
Favorable lease terms December 31, 2023	$	211,644	$	(151,213	)	$	60,431
Amortization		—		(913,~~079~~618	)		(913,~~079~~618	)
Favorable lease terms June 30, 2024	$	211,644	$	(160,292	)	$	51,352
Favorable lease terms September 30, 2024	$	211,644	$	(164,831	)	$	46,813

Amortization expense of favorable lease terms for each of the periods ended ~~June~~September 30, 2024 and 2023 is presented in the following table:

	Three Month Period Ended June 30, 2024(unaudited)			Three Month Period Ended June 30, 2023(unaudited)			Six Month Period Ended June 30, 2024(unaudited)			Six Month Period Ended June 30, 2023(unaudited)
	Three Month Period Ended September 30, 2024			Three Month Period Ended September 30, 2023			Nine Month Period Ended September 30, 2024			Nine Month Period Ended September 30, 2023
Favorable lease terms	$	(4,~~540~~539	)	$	(4,539	)	$	(913,~~079~~618	)	$	(913,~~207~~746	)
Total	$	(4,~~540~~539	)	$	(4,539	)	$	(913,~~079~~618	)	$	(913,~~207~~746	)

The aggregate amortization of the intangible assets for the next five 12-month periods ending ~~June~~September 30 is estimated to be as follows:

Period	Amount
2025	$	1715,~~702~~958
2026		119,~~182~~765
2027		54,~~115~~982
2028		4,982
2029		4,982
2030 and thereafter		76,~~389~~144
Total	$	5146,~~352~~813

Intangible assets subject to amortization are amortized using straight-line method over their estimated useful lives to their estimated residual value of zero. As of ~~June~~September 30, 2024, the weighted average useful life of the remaining favorable lease terms was 4.76 years.

~~Intangible liabilities as of June 30, 2024 and December 31, 2023 consisted of the following:~~F-13

	Cost		AccumulatedAmortization			Net Book Value
Unfavorable lease terms December 31, 2023	$	231,407	$	(203,423	)	$	27,984
Amortization		—		(6,307	)		(6,307	)
Unfavorable lease terms June 30, 2024	$	231,407	$	(209,730	)	$	21,677

Amortization income of unfavorable lease terms for each of the periods ended June 30, 2024 and 2023 is presented in the following table:

	Three Month Period Ended June 30, 2024(unaudited)		Three Month Period Ended June 30, 2023(unaudited)		Six Month Period Ended June 30, 2024(unaudited)		Six Month Period Ended June 30, 2023(unaudited)
Unfavorable lease terms	$	3,171	$	5,322	$	6,307	$	12,910
Total	$	3,171	$	5,322	$	6,307	$	12,910

F-12

NAVIOS MARITIME PARTNERS L.P.

UNAUDITED NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Expressed in thousands of U.S. Dollars except unit and per unit data)

~~The~~Intangible ~~aggregate~~liabilities ~~amortization~~as of ~~the~~September ~~intangible~~30, ~~liabilities~~2024 ~~for~~and ~~the~~December ~~next~~31, ~~five~~2023 ~~12-month~~consisted ~~periods~~of ~~ending~~the ~~June 30 is estimated to be as follows~~following:

Period	Amount
	Cost		AccumulatedAmortization			Net Book Value
2025	$	12,204
Unfavorable lease terms December 31, 2023	$	231,407	$	(203,423	)	$	27,984
2026		9,473
Amortization		—		(9,513	)		(9,513	)
2027		—
Unfavorable lease terms September 30, 2024	$	231,407	$	(212,936	)	$	18,471
2028		—
2029		—
2030 and thereafter		—
Total	$	21,677

~~Intangible~~Amortization ~~liabilities~~income ~~subject~~of tounfavorable ~~amortization~~lease ~~are~~terms ~~amortized~~for ~~using~~each ~~straight-line method over their estimated useful lives to their estimated residual value~~ of ~~zero.~~the Asperiods ofended ~~June~~September 30, 2024, ~~the~~and ~~weighted~~2023 ~~average~~is ~~useful~~presented ~~life~~in of the ~~remaining~~following ~~unfavorable lease terms was 1.8 years.~~table:


	Three Month Period Ended September 30, 2024		Three Month Period Ended September 30, 2023		Nine Month Period Ended September 30, 2024		Nine Month Period Ended September 30, 2023
Unfavorable lease terms	$	3,206	$	3,521	$	9,513	$	16,431
Total	$	3,206	$	3,521	$	9,513	$	16,431

The aggregate amortization of the intangible liabilities for the next five 12-month periods ending September 30 is estimated to be as follows:


Period	Amount
2025	$	11,942
2026		6,529
2027		—
2028		—
2029		—
2030 and thereafter		—
Total	$	18,471

Intangible liabilities subject to amortization are amortized using straight-line method over their estimated useful lives to their estimated residual value of zero. As of September 30, 2024, the weighted average useful life of the remaining unfavorable lease terms was 1.6 years.

NOTE 6 – BORROWINGS

Borrowings as of ~~June~~September 30, 2024 and December 31, 2023 consisted of the following:

	June 30, 2024			December 31, 2023
	September 30, 2024			December 31, 2023
Credit facilities	$	1,~~019~~127,~~721~~484		$	908,288
Financial liabilities		~~522~~624,~~913~~213			502,275
Finance lease liabilities		~~444~~353,~~901~~297			468,414
Total borrowings	$	12,~~987~~104,~~535~~994		$	1,878,977
Less: Current portion of long-term borrowings, net		(~~529~~289,~~651~~874	)		(285,036	)
Less: Deferred finance costs, net		(2022,~~321~~709	)		(17,514	)
Long-term borrowings, net	$	1,~~437~~792,~~563~~411		$	1,576,427

As of ~~June~~September 30, 2024, the total borrowings, net of deferred finance costs were $12,~~967~~082,~~214~~285.

F-14

NAVIOS MARITIME PARTNERS L.P.

UNAUDITED NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Expressed in thousands of U.S. Dollars except unit and per unit data)

Credit Facilities

~~ABN~~EUROBANK ~~Amro Bank N~~S.VA: On ~~June~~September 2627, 2024, Navios Partners entered into a ~~reducing revolving~~ credit facility with ~~ABN~~Eurobank ~~Amro Bank N~~S.VA for a total amount up to $9548,000 (divided into two ~~tranches~~advances) in order to refinance the existing indebtedness of ~~two~~three of its vessels (advance A) and to finance part of the acquisition cost of ~~four~~one ~~dry~~Ultra-Handymax ~~bulk~~vessel ~~vessels~~(advance B). On ~~June~~September 2827, 2024, the ~~first~~amount ~~tranche~~ of ~~the credit facility of~~ $4530,000 ~~was~~in ~~drawn.~~relation Into ~~August~~advance ~~2024,~~A ~~the amount of $34,242~~ was drawn and ~~the~~advance ~~amount~~B ~~of $15,758~~ remains to be drawn. As of ~~June~~September 30, 2024, the total outstanding balance was $4530,000. The credit facility matures ~~five~~four years and six years after each drawdown date of advance A and advance B, respectively, and bears interest at ~~Compounded~~Term Secured Overnight Financing Rate (“~~Compounded~~Term SOFR”) plus 70 bps per annum for any part of the loan secured by cash collateral and 175 bps per annum for the remaining drawn amount.

~~Nordea~~NATIONAL ~~Bank~~BANK ~~ABP~~OF GREECE S.A: On ~~January~~September 319, 2024, Navios Partners entered into a credit facility with ~~Nordea~~National Bank ~~ABP~~of Greece S.A for a total amount up to $40130,000 (divided into two tranches) in order to refinance ~~three~~the ~~tankers~~existing indebtedness of six of its vessels (tranche A) and to finance part of the acquisition cost of one newbuilding Aframax/ LR2 tanker vessel, currently under construction (tranche B). On ~~March~~September 2620, 2024, the ~~full~~ amount of $81,218 in relation to tranche A was drawn and tranche B remains to be drawn. As of ~~June~~September 30, 2024, the total outstanding balance was $3881,~~758~~218. The credit facility matures infive ~~the~~years ~~first~~after ~~quarter~~each ofdrawdown ~~2029~~date and bears interest at Term SOFR (with option to switch to Compounded Secured Overnight Financing Rate (“Compounded SOFR”)) plus ~~195~~175 bps per annum and 150 bps per annum for drawn amounts of tranche A and tranche B, respectively.

~~BNP PARIBAS:~~ On June 1220, 2023, Navios Partners entered into a credit facility with ~~BNP~~National ~~Paribas~~Bank of Greece S.A of up to $4077,~~000~~822 in order to refinance the existing indebtedness of ~~nine~~ten of its ~~containerships~~vessels and for general corporate purposes. OnIn June ~~16,~~ 2023, the full amount was drawn. OnDuring ~~April~~the 29nine month period ended September 30, 2024, ~~Navios~~in ~~Partners~~relation ~~prepaid~~to the ~~amount~~sale of ~~$3,990~~a ~~relating~~2009-built toMR2 ~~one~~Product ~~containership~~Tanker ~~that~~vessel ~~was~~of ~~released~~50,542 ~~from~~dwt, the ~~facility~~amount of $7,137 was prepaid. As of ~~June~~September 30, 2024, the total outstanding balance was $2758,~~924~~448. The credit facility matures in the second quarter of ~~2026~~2028 and bears interest at Term SOFR (with option to switch to Compounded SOFR) plus ~~250~~215 bps per annum.

~~DNB~~ABN ~~(UK)~~Amro ~~Limited and The Export-Import~~ Bank ~~of China~~N.V: On ~~February~~June 1626, ~~2023~~2024, Navios Partners entered into a reducing revolving credit facility with ~~DNB~~ABN ~~(UK)~~Amro ~~Limited and The Export-Import~~ Bank ofN.V ~~China~~ for a total amount up to $~~161~~95,~~600~~000 (divided into two tranches) in order to refinance the existing indebtedness of two of its vessels and to finance part of the ~~contract~~acquisition ~~price~~cost of four ~~newbuilding~~dry ~~containerships~~bulk vessels. ~~During~~Following the ~~first~~deliveries ~~half~~ of the four vessels, during the nine month period ended September 30, 2024, the full amount was drawn. As of ~~$121~~September 30,~~600~~ 2024, the total outstanding balance was ~~drawn~~$93,625. inThe ~~relation~~credit tofacility ~~the~~matures ~~deliveries~~five ofyears ~~the~~after ~~three~~each ~~5,300~~drawdown ~~TEU~~date ~~newbuilding~~and ~~containerships.~~bears Ininterest ~~July~~at ~~2024,~~Compounded inSOFR (with option to switch to Term SOFR) plus 175 bps per annum.

~~F-13~~Nordea Bank ABP: On January 3, 2024, Navios Partners entered into a credit facility with Nordea Bank ABP for a total amount up to $40,000 in order to refinance three tankers. On March 26, 2024, the full amount was drawn. As of September 30, 2024, the total outstanding balance was $37,517. The credit facility matures in the first quarter of 2029 and bears interest at Compounded SOFR plus 195 bps per annum.

BNP PARIBAS: On June 12, 2023, Navios Partners entered into a credit facility with BNP Paribas of up to $40,000 in order to refinance the existing indebtedness of nine of its containerships. On June 16, 2023, the full amount was drawn. On April 29, 2024, Navios Partners prepaid the amount of $3,990 relating to one containership that was released from the facility. As of September 30, 2024, the total outstanding balance was $26,087. The credit facility matures in the second quarter of 2026 and bears interest at Compounded SOFR plus 250 bps per annum.

KFW IPEX-BANK GMBH: On April 25, 2023, Navios Partners entered into an export agency-backed facility with KFW for a total amount of up to $165,638 in order to finance the acquisition cost of two newbuilding 7,700 TEU containerships, currently under construction. As of September 30, 2024, the Company has drawn a total amount of $119,434 and $46,204 remains to be drawn. As of September 30, 2024, the total outstanding balance was $119,434. The credit facility is scheduled to mature 12 years after the delivery of each vessel and bears interest at Compounded SOFR plus 150 bps per annum.

On September 30, 2022, Navios Partners entered into a credit facility with KFW IPEX-BANK GMBH (“KFW”) for a total amount up to $86,240 in order to finance part of the acquisition cost of two newbuilding containerships. Following the delivery of the two 5,300 TEU newbuilding containerships in November 2023 and January 2024, the full amount was drawn. As of September 30, 2024, the total outstanding balance was $82,871. The credit facility matures in the fourth quarter of 2030 and the first quarter of 2031 and bears interest at Compounded SOFR plus 200 bps per annum.

F-15

NAVIOS MARITIME PARTNERS L.P.

UNAUDITED NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Expressed in thousands of U.S. Dollars except unit and per unit data)

~~relation~~DNB (UK) Limited and The Export-Import Bank of China: On February 16, 2023, Navios Partners entered into a credit facility with DNB (UK) Limited and The Export-Import Bank of China for a total amount up to $161,600 in order to finance part of the ~~delivery~~contract price of four newbuilding containerships. Following the ~~remaining~~deliveries of the four 5,300 TEU newbuilding ~~containership,~~containerships during the ~~amount~~nine ofmonth ~~$40~~period ended September 30,~~000~~ 2024, the full amount was drawn. As of ~~June~~September 30, 2024, the total outstanding balance was $~~120~~160,580. The credit facility matures ten years after each drawdown date upon the delivery of the respective vessel and bears interest at Compounded SOFR plus 170 bps per annum.

~~KFW~~Hamburg ~~IPEX-BANK~~Commercial ~~GMBH~~Bank AG: On September 305, 2022, Navios Partners entered into a credit facility with ~~KFW~~Hamburg ~~IPEX-BANK~~Commercial ~~GMBH~~Bank AG (“~~KFW~~HCOB”) for a total amount up to $86210,~~240~~000 in order to ~~finance~~refinance ~~part~~the existing indebtedness of 20 of its vessels and for working capital purposes. On September 9, 2022, the ~~acquisition~~full ~~cost~~amount was drawn. During the year ended December 31, 2022, following the sale of two ~~newbuilding~~vessels, ~~containerships~~the aggregate amount of $10,239 was prepaid. ~~Following~~During the ~~delivery~~year ofended December 31, 2023, following the sale of two 5vessels,~~300~~ ~~TEU~~the ~~newbuilding~~aggregate ~~containerships~~amount of $14,182 was prepaid. During the nine month period ended September 30, 2024, in ~~November~~relation ~~2023~~to the sales of a 2004-built Panamax vessel of 76,602 dwt, a 2006-built Panamax vessel of 76,596 dwt and ~~January~~a ~~2024~~2005-built Post-Panamax vessel of 87,052 dwt, the ~~full~~aggregate amount of $13,349 was ~~drawn~~prepaid. As of ~~June~~September 30, 2024, the total outstanding balance was $84112,~~219~~294. The credit facility matures in the ~~fourth~~second quarter of ~~2030~~2025 and ~~the first quarter of 2031 and~~ bears interest at Compounded SOFR plus ~~200~~250 bps per annum.

~~Hamburg~~In ~~Commercial~~August ~~Bank~~2021, ~~AG:~~as Onamended ~~September~~on 5November 10, ~~2022~~2021 and December 7, 2021, Navios ~~Partners~~Maritime Acquisition Corporation (“Navios Acquisition”) entered into a ~~credit~~loan ~~facility~~agreement with ~~Hamburg~~HCOB, ~~Commercial~~Alpha Bank AGS.A. ~~(“HCOB”)~~and ~~for~~National aBank ~~total~~of ~~amount~~Greece, upof to $~~210~~190,~~000~~216 in order to partially refinance the existing indebtedness of 20seven oftanker ~~its~~ vessels ~~and for working capital purposes~~. OnPursuant ~~September~~to 9,an ~~2022,~~amendment ~~the~~in ~~full amount was drawn. During the year ended~~ December 312021, ~~2022, following the sale of~~ two container vessels, ~~the~~were ~~aggregate~~added ~~amount~~as ~~of $10,239 was prepaid~~collaterals. ~~During~~In ~~the~~January ~~year ended December 31,~~ 2023, following the sale of ~~two vessels, the aggregate amount of $14,182 was prepaid. During the first half of 2024, in relation to the sales of~~ a ~~2004~~2011-built ~~Panamax~~Chemical Tanker vessel of 7625,~~602~~145 dwt and a ~~2006~~2010-built ~~Panamax~~Chemical Tanker vessel of 7625,~~596~~130 dwt, the ~~aggregate~~ amount of $911,~~756~~440 was prepaid. In ~~August~~May 2024, in relation to the sale of ~~one~~a ~~2005~~2009-built ~~Post-Panamax~~VLCC ~~vessel~~ of 87297,~~052~~188 dwt, the amount of $316,~~593~~568 was prepaid. AsOn ofSeptember ~~June 30~~24, 2024, the total outstanding balance ~~was~~of $~~121~~81,~~867.~~218 ~~The~~was ~~credit~~fully ~~facility matures in the second quarter of 2025 and bears interest at Compounded SOFR plus 250 bps per annum~~prepaid.

In August 2021, as amended on November 10, 2021 and December 7, 2021, Navios Maritime Acquisition Corporation (“Navios Acquisition”) entered into a loan agreement with HCOB, Alpha Bank S.A. and National Bank of Greece, of $190,216 in order to partially refinance the existing indebtedness of seven tanker vessels. Pursuant to an amendment in December 2021, two container vessels were added as collaterals. In January 2023, following the sale of one 2011-built Chemical Tanker vessel of 25,145 dwt and one 2010-built Chemical Tanker vessel of 25,130 dwt, the amount of $11,440 was prepaid. In May 2024, in relation to the sale of one 2009-built VLCC of 297,188 dwt, the amount of $16,568 was prepaid. As of June 30, 2024, the total outstanding balance of the credit facility was $84,715. The credit facility matures in the second quarter of 2025. Pursuant to the amendment dated July 24, 2023, the credit facility bears interest at Compounded SOFR plus margin ranging from 290 to 350 bps per annum, based on the loan to value ratio as defined in the loan agreement.

DNB BANK ASA: On August 19, 2021, Navios Partners entered into a credit facility with DNB Bank ASA for a total amount up to $18,000, in order to finance part of the acquisition cost of the Navios Azimuth. On August 20, 2021, the full amount was drawn. On February 20, 2024, the total outstanding balance of $12,240 was fully prepaid.

On December 13, 2021, Navios Partners entered into a sustainability linked credit facility with DNB Bank ASA of up to $72,710 for the refinancing of the existing credit facilities of three tanker vessels and two dry bulk vessels. On December 15, 2021, the full amount was drawn. On December 15, 2023, Navios Partners prepaid the amount of $37,075 relating to three tanker vessels that were released from the facility. On June 28, 2024, the total outstanding balance of $17,160 relating to the remaining two dry bulk vessels was fully prepaid.

Financial Liabilities

In February 2024, Navios Partners entered into a sale and leaseback agreement of $16,800 with an unrelated third party for the Navios Azimuth, a 2011-built Capesize vessel of 179,169 dwt. The bareboat charter-in provides for purchase options with de-escalating purchase prices starting on the end of the fourth year. Navios Partners has a purchase option to acquire the vessel at the end of the lease term given the fact that such exercise price is not equal to the fair value of the asset at the end of the lease term, the transaction was determined to be a failed sale. In accordance with ASC 842-40, the Company did not derecognize the respective vessel from its balance sheet and accounted for the amount received under the sale and leaseback agreement as a financial liability. On March 15, 2024, the full amount ~~of $16,800~~ was drawn. As of ~~June~~September 30, 2024, the outstanding balance under the sale and leaseback agreement was $1615,~~256~~847. The sale and leaseback transaction matures in the first quarter of 2030 and bears interest at Term ~~Secured Overnight Financing Rate ("Term~~ SOFR") plus 225 bps per annum.

In January 2024, Navios Partners entered into a sale and leaseback agreement of up to $45,260 with an unrelated third party, in order to finance the acquisition of one 115,000 dwt Aframax/LR2 newbuilding tanker vessel. As of ~~June~~September 30, 2024, the total amount remained undrawn. The sale and leaseback agreement matures seven years after the drawdown date and bears interest at Term SOFR plus 190 bps per annum.

FIn November 2023, Navios Partners entered into sale and leaseback agreements of $175,600 with unrelated third parties, in order to finance the acquisition of two 5,300 TEU newbuilding containerships and two newbuilding Aframax/LR2 tanker vessels. During the nine month period ended September 30, 2024, in relation to the deliveries of the Nave Polaris, a 2024-14built Aframax/LR2 tanker vessel of 115,699 dwt and the Navios Utmost, a 2024-built 5,300 TEU containership, the amount of $87,800 was drawn and $87,800 remains to be drawn. Navios Partners has a purchase obligation to acquire the vessels at the end of the lease term and under ASC 842-40, the transfer of the vessels was determined to be a failed sale. In accordance with ASC 842-40, Navios Partners did not derecognize the respective vessels from its balance sheet and

F-16

NAVIOS MARITIME PARTNERS L.P.

UNAUDITED NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Expressed in thousands of U.S. Dollars except unit and per unit data)

~~total~~accounted ~~amount~~for ~~remained~~the ~~undrawn~~amounts received under the sale and leaseback transaction as a financial liability. ~~The~~As of September 30, 2024, the outstanding balance under the sale and leaseback agreement was $87,800. The sale and leaseback transaction matures ~~seven~~ten years after ~~the~~each drawdown date and bears interest at Term SOFR plus ~~190~~200 bps per annum.

In ~~November~~May 2023, Navios Partners entered into sale and leaseback agreements of $~~175~~178,~~600~~000 with unrelated third parties, in order to finance the acquisition of two 5,300 TEU newbuilding containerships and two newbuilding Aframax/LR2 tanker vessels. InDuring ~~August~~the ~~2024,~~nine inmonth ~~relation~~period toended September 30, 2024, following the ~~delivery~~deliveries of the Nave ~~Polaris~~Cosmos, a 2024-built Aframax/LR2 tanker vessel of 115,~~699~~651 dwt and the Zim Seagull, a 2024-built 5,300 TEU containership, the amount of $4389,~~850~~000 was drawn and $~~131~~89,~~750~~000 remains to be drawn. Navios Partners has a purchase option to acquire the vessels at the end of the lease term and given the fact that such exercise price is not equal to the fair value of each asset at the end of the lease term, under ASC 842-40, the transaction was determined to be a failed sale. In accordance with ASC 842-40, the Company did not derecognize the respective vessels from its balance sheet and accounted for the amounts received under the sale and leaseback agreement as a financial liability. As of September 30, 2024, the outstanding balance under the sale and leaseback agreement was $86,785. The sale and leaseback transaction matures ten years after each drawdown date and bears interest at Term SOFR plus ~~200~~210 bps per annum.

In ~~May~~October ~~2023~~2022, Navios Partners ~~entered~~completed ~~into~~a $100,000 sale and leaseback ~~agreements~~transaction ~~of $178,000~~ with unrelated third parties, into ~~order~~refinance the existing sale and leaseback transaction of 12 containerships. Navios Partners has a purchase obligation to ~~finance~~acquire the ~~acquisition~~vessels ofat ~~two~~the ~~5,300~~end ~~TEU~~of ~~newbuilding~~the ~~containerships~~lease term and ~~two~~under ~~newbuilding~~ASC ~~Aframax/LR2~~842-40, ~~tanker~~the transfer of the vessels was determined to be a failed sale. In ~~May~~accordance ~~2024~~with ASC 842-40, inNavios ~~relation~~Partners todid not derecognize the ~~delivery~~respective ofvessels from its balance sheet and accounted for the ~~Nave~~amounts ~~Cosmos,~~received aunder ~~2024-built~~the ~~Aframax/LR2~~sale ~~vessel~~and ofleaseback ~~115,651~~transaction ~~dwt,~~as a financial liability. Navios Partners drew the entire amount ofon ~~$44~~October 31,~~500~~ ~~was~~2022, ~~drawn~~net of discount of $800. In ~~August~~May 2024, in relation to the ~~delivery~~sale of ~~the~~one ~~Zim Seagull, a 2024~~2007-built 53,~~300~~450 TEU containership, the amount of $444,~~500~~411 was ~~drawn and $89,000 remains to be drawn~~prepaid. As of ~~June~~September 30, 2024, the outstanding balance under the sale and leaseback agreement was $4351,~~970~~497. The sale and leaseback ~~transaction~~agreement matures ~~ten~~in ~~years~~the ~~after~~first ~~each~~quarter ~~drawdown~~of ~~date~~2026 and bears interest at Term SOFR plus 210 bps per annum.

In October 2022, Navios Partners completed a $100,000 sale and leaseback transaction with unrelated third parties to refinance the existing sale and leaseback transaction of 12 containerships. Navios Partners has a purchase obligation to acquire the vessels at the end of the lease term and under ASC 842-40, the transfer of the vessels was determined to be a failed sale. In accordance with ASC 842-40, Navios Partners did not derecognize the respective vessels from its balance sheet and accounted for the amounts received under the sale and leaseback transaction as a financial liability. Navios Partners drew the entire amount on October 31, 2022, net of discount of $800. In May 2024, in relation to the sale of one 2007-built 3,450 TEU containership, the amount of $4,411 was prepaid. Navios Partners also has an obligation at maturity to purchase the 11 containerships. As of June 30, 2024, the outstanding balance under the sale and leaseback agreement was $55,223. The sale and leaseback agreement bears interest at Term SOFR plus 210 bps per annum.

Finance Lease Liabilities

In June 2024, Navios Partners agreed to acquire from an unrelated third party the Navios Venus, a previously chartered-in, 2015-built Ultra-Handymax vessel of 61,339 dwt, which was previously accounted for as a right-of-use asset under operating lease. In accordance with the provisions of ASC 842, the Company accounted the transaction as a lease modification and upon reassessment of the classification of the lease, the Company has classified the above transaction as finance lease, as of the effective date of the modification. Consequently, as per ASC 842-10-25-11, the Company reallocated the remaining consideration in the contract and remeasured the lease liability using an updated incremental borrowing rate of approximately 6%. As of ~~June~~September 30, 2024, the outstanding balance was $2723,~~383~~276.

On July 29, 2022, Navios Partners took delivery of the Navios Coral, a 2016-built Kamsarmax vessel of 84,904 dwt, for a remaining three-year charter-in agreement. The charter-in provided for purchase options with de-escalating purchase prices. The Company had performed an assessment considering the lease classification criteria under ASC 842 and concluded that the arrangement was a finance lease. Consequently, the Company had recognized a finance lease liability based on the net present value of the remaining charter-in payments including the purchase option to acquire the vessel at the end of the lease period, discounted by the Company’s incremental borrowing rate of approximately 6%. During the first quarter of 2024, the Company declared its option to acquire the vessel and remeasured the finance lease liability. The finance lease liability recognized at the date of remeasurement was decreased by $636. The corresponding right-of-use asset under finance lease was adjusted upon remeasurement of the finance lease liability (see Note 4 – Vessels, net). In June 2024, the Company acquired the Navios Coral and repaid in full the outstanding balance of the finance lease liability as of that date.

On July 29, 2022, Navios Partners took delivery of the Navios Amber, a 2015-built Kamsarmax vessel of 80,994 dwt, for a remaining one-year charter-in agreement. The charter-in provides for purchase options with de-escalating purchase prices. The Company has performed an assessment considering the lease classification criteria under ASC 842 and concluded that the arrangement is a finance lease. Consequently, the Company has recognized a finance lease liability based on the net present value of the remaining charter-in payments including the purchase option to acquire the vessel at the end of the lease period, discounted by the Company’s incremental borrowing rate of approximately 6%. During the first quarter of 2024, the Company declared its option to extend the charter period for one year and declared its option to acquire the vessel. Under the ASC 842, the extension of the charter period is considered as a lease modification. Consequently, the Company reallocated the remaining consideration in the contract and remeasured the finance lease liability by using the updated Company’s incremental borrowing rate of approximately 6%. The finance lease liability recognized at the date of

F-1517

NAVIOS MARITIME PARTNERS L.P.

UNAUDITED NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Expressed in thousands of U.S. Dollars except unit and per unit data)

~~liability by using the updated Company’s incremental borrowing rate of approximately 6%. The finance lease liability recognized at the date of~~ modification was increased by $592. The corresponding right-of-use asset under finance lease was adjusted upon remeasurement of the finance lease liability (see Note 4 – Vessels, net). AsIn ofSeptember ~~June 30,~~ 2024, the Company acquired the Navios Amber and repaid in full the outstanding balance ~~was~~of ~~$31,009~~the finance lease liability as of that date.

On July 29, 2022, Navios Partners took delivery of the Navios Citrine, a 2017-built Kamsarmax vessel of 81,626 dwt, for a remaining three-year charter-in agreement. The charter-in provides for purchase options with de-escalating purchase prices. The Company has performed an assessment considering the lease classification criteria under ASC 842 and concluded that the arrangement is a finance lease. Consequently, the Company has recognized a finance lease liability based on the net present value of the remaining charter-in payments including the purchase option to acquire the vessel at the end of the lease period, discounted by the Company’s incremental borrowing rate of approximately 6%. During the first quarter of 2024, the Company declared its option to acquire the vessel and remeasured the finance lease liability. The finance lease liability recognized at the date of remeasurement was decreased by $969. The corresponding right-of-use asset under finance lease was adjusted upon remeasurement of the finance lease liability (see Note 4 – Vessels, net). AsIn ofJuly ~~June 30,~~ 2024, the Company acquired the Navios Citrine and repaid in full the outstanding balance ~~was~~of ~~$26,140~~the finance lease liability as of that date.

On July 29, 2022, Navios Partners took delivery of the Navios Dolphin, a 2017-built Kamsarmax vessel of 81,630 dwt, for a remaining three-year charter-in agreement. The charter-in provides for purchase options with de-escalating purchase prices. The Company has performed an assessment considering the lease classification criteria under ASC 842 and concluded that the arrangement is a finance lease. Consequently, the Company has recognized a finance lease liability based on the net present value of the remaining charter-in payments including the purchase option to acquire the vessel at the end of the lease period, discounted by the Company’s incremental borrowing rate of approximately 6%. During the first quarter of 2024, the Company declared its option to acquire the vessel and remeasured the finance lease liability. The finance lease liability recognized at the date of remeasurement was decreased by $1,024. The corresponding right-of-use asset under finance lease was adjusted upon remeasurement of the finance lease liability (see Note 4 – Vessels, net). AsIn ofJuly ~~June 30,~~ 2024, the Company acquired the Navios Dolphin and repaid in full the outstanding balance ~~was~~of ~~$26,164~~the finance lease liability as of that date.

AsFor ofthe ~~June~~nine month periods ended September 30, 2024 and 2023, payments related to the finance lease liabilities ~~for the six month periods ended~~ amounted to $2023,~~307~~580 and $1219,~~119~~167, respectively and are presented under the caption “Repayment of long-term debt and financial liabilities” in the condensed Consolidated Statements of Cash Flows.

Covenants and Other Terms of Credit Facilities and Financial Liabilities

The credit facilities and certain financial liabilities contain a number of restrictive covenants that prohibit or limit Navios Partners from, among other things: incurring or guaranteeing indebtedness; entering into affiliate transactions; charging, pledging or encumbering the vessels; changing the flag, class, management or ownership of Navios Partners’ vessels; changing the commercial and technical management of Navios Partners’ vessels; selling or changing the beneficial ownership or control of Navios Partners’ vessels; not maintaining Navios Holdings’, Angeliki Frangou’s or their affiliates’ ownership in Navios Partners of at least 5.0%; and subordinating the obligations under the credit facilities to any general and administrative costs related to the vessels, including the fixed daily fee payable under the Management Agreements (defined herein).

The Company’s credit facilities and certain financial liabilities also require compliance with a number of financial covenants, including: (i) maintain a required security ranging over 110% to 140%; (ii) minimum free consolidated liquidity in an amount equal to $500 per owned vessel and a number of vessels as defined in the Company’s credit facilities and financial liabilities; (iii) maintain a ratio of EBITDA to interest expense of at least 2.00:1.00; (iv) maintain a ratio of total liabilities or total debt to total assets (as defined in the Company’s credit facilities and financial liabilities) ranging from less than 0.75 to 0.80; and (v) maintain a minimum net worth of $135,000.

It is an event of default under the credit facilities and certain financial liabilities if such covenants are not complied with in accordance with the terms and subject to the prepayments or cure provisions of the facilities.

As of ~~June~~September 30, 2024, Navios Partners was in compliance with the financial covenants and/or the prepayments and/or the cure provisions, as applicable, in each of its credit facilities and certain financial liabilities.

F-1618

NAVIOS MARITIME PARTNERS L.P.

UNAUDITED NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Expressed in thousands of U.S. Dollars except unit and per unit data)

The annualized weighted average interest rates of the Company’s total borrowings for ~~each of~~ the three and ~~six~~nine month periods ended ~~June~~September 30, 2024 were 7.0% and 7.1%, respectively. The annualized weighted average interest rates of the Company’s total borrowings for each of the three and ~~six~~nine month periods ended ~~June~~September 30, 2023 were 7.43% ~~and 7~~.~~2%, respectively.~~

The maturity table below reflects the principal payments for the next five 12-month periods ending ~~June~~September 30 of all borrowings of Navios Partners outstanding as of ~~June~~September 30, 2024, based on the repayment schedules of the respective credit facilities, financial liabilities and finance lease liabilities.

Period	Amount
2025	$	~~535~~295,~~500~~446
2026		~~311~~351,~~344~~235
2027		~~226~~275,~~902~~690
2028		~~210~~289,~~149~~266
2029		~~136~~231,~~541~~044
2030 and thereafter		~~567~~662,~~099~~313
Total	$	12,~~987~~104,~~535~~994

NOTE 7 – ~~FAIR~~INTEREST ~~VALUE~~EXPENSE OFAND ~~FINANCIAL~~FINANCE ~~INSTRUMENTS~~COST, NET

Interest expense and finance cost, net for the three and nine month periods ended September 30, 2024 and 2023 consisted of the following:


	Three Month Period Ended September 30, 2024			Three Month Period Ended September 30, 2023			Nine Month Period Ended September 30, 2024			Nine Month Period Ended September 30, 2023
	(unaudited)			(unaudited)			(unaudited)			(unaudited)
Interest expense incurred on credit facilities and financial liabilities	$	29,066		$	27,555		$	81,855		$	83,790
Interest expense incurred on finance lease liabilities		6,802			8,988			22,619			21,610
Interest expense capitalized related to deposits for vessel acquisitions		(5,647	)		(6,112	)		(18,284	)		(14,905	)
Amortization of finance charges and other finance costs		2,637			1,625			6,510			7,367
Discount effect of long-term assets		(250	)		(207	)		(596	)		2,841
Total interest expense and finance cost, net	$	32,608		$	31,849		$	92,104		$	100,703

Interest expense incurred on deposits for vessels acquisitions was initially capitalized under the caption “Deposits for vessels acquisitions” in the condensed Consolidated Balance Sheets.

NOTE 8 – FAIR VALUE OF FINANCIAL INSTRUMENTS

The carrying amounts of many of Navios Partners’ financial instruments, including accounts receivable and accounts payable approximate their fair value due primarily to the short-term maturity of the related instruments.

Fair value of financial instruments

The following methods and assumptions were used to estimate the fair value of each class of financial instrument:

Cash and cash equivalents: The carrying amounts reported in the condensed Consolidated Balance Sheets for interest bearing deposits approximate their fair value because of the short maturity of these deposits.

Restricted cash: The carrying amounts reported in the condensed Consolidated Balance Sheets for interest bearing deposits approximate their fair value because of the short maturity of these deposits.

F-19

NAVIOS MARITIME PARTNERS L.P.

UNAUDITED NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Expressed in thousands of U.S. Dollars except unit and per unit data)

Other investments: The carrying amounts reported in the condensed Consolidated Balance Sheets for interest bearing deposits approximate their fair value.

Amounts due from related parties, short-term: The carrying amount of due from related parties, short-term reported in the condensed Consolidated Balance Sheets approximates its fair value due to the short-term nature of these receivables.

Amounts due from related parties, long-term: The carrying amount of due from related parties, long-term reported in the condensed Consolidated Balance Sheets approximates its fair value.

Amounts due to related parties, short-term: The carrying amount of due to related parties, short-term reported in the condensed Consolidated Balance Sheets approximates its fair value due to the short-term nature of these payables.

Credit facilities and financial liabilities, including current portion, net: The book value has been adjusted to reflect the net presentation of deferred finance costs. The outstanding balance of the floating rate credit facilities and financial liabilities continues to approximate its fair value, excluding the effect of any deferred finance costs.

The estimated fair values of the Navios Partners’ financial instruments are as follows:

F-17


	September 30, 2024						December 31, 2023
	Book Value			Fair Value			Book Value			Fair Value
Cash and cash equivalents	$	293,146		$	293,146		$	240,378		$	240,378
Restricted cash	$	812		$	812		$	8,797		$	8,797
Other investments	$	37,976		$	37,976		$	47,000		$	47,000
Amounts due from related parties, short-term	$	48,478		$	48,478		$	—		$	—
Amounts due from related parties, long-term	$	—		$	—		$	39,570		$	39,570
Amounts due to related parties, short-term	$	—		$	—		$	(32,026	)	$	(32,026	)
Credit facilities and financial liabilities, including current portion, net	$	(1,728,988	)	$	(1,751,697	)	$	(1,393,049	)	$	(1,410,563	)

NAVIOS MARITIME PARTNERS L.P.

UNAUDITED NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Expressed in thousands of U.S. Dollars except unit and per unit data)

	June 30, 2024						December 31, 2023
	BookValue			FairValue			BookValue			FairValue
Cash and cash equivalents	$	271,989		$	271,989		$	240,378		$	240,378
Restricted cash	$	7,855		$	7,855		$	8,797		$	8,797
Other investments	$	38,543		$	38,543		$	47,000		$	47,000
Amounts due from related parties, short-term	$	29,784		$	29,784		$	—		$	—
Amounts due from related parties, long-term	$	—		$	—		$	39,570		$	39,570
Amounts due to related parties, short-term	$	—		$	—		$	(32,026	)	$	(32,026	)
Credit facilities and financial liabilities, including current portion, net	$	(1,522,313	)	$	(1,542,634	)	$	(1,393,049	)	$	(1,410,563	)

Fair Value Measurements

The estimated fair value of the Company’s financial instruments that are not measured at fair value on a recurring basis, categorized based upon the fair value hierarchy, are as follows:

Level I: Inputs are unadjusted, quoted prices for identical assets or liabilities in active markets that the Company has the ability to access. Valuation of these items does not entail a significant amount of judgment.

Level II: Inputs other than quoted prices included in Level I that are observable for the asset or liability through corroboration with market data at the measurement date.

Level III: Inputs that are unobservable. The Company did not use any Level III inputs as of ~~June~~September 30, 2024.

Fair Value Measurements as at June 30, 2024

Fair Value Measurements as at September 30, 2024

Total

Level I

Level II

Level III

Cash and cash equivalents

~~271~~293,~~989~~146

—

Restricted cash

~~7,855~~812

—

Other investments

3837,~~543~~976

—

Amounts due from related parties, short-term

2948,~~784~~478

—

2948,~~784~~478

—

Credit facilities and financial liabilities, including current portion, net (1)

(1,~~542~~751,~~634~~697

)

—

(1,~~542~~751,~~634~~697

)

—

	Fair Value Measurements as at December 31, 2023
	Total			Level I		Level II			Level III
Cash and cash equivalents	$	240,378		$	240,378	$	—		$	—
Restricted cash	$	8,797		$	8,797	$	—		$	—
Other investments	$	47,000		$	47,000	$	—		$	—
Amounts due from related parties, long-term	$	39,570		$	—	$	39,570		$	—
Amounts due to related parties, short-term	$	(32,026	)	$	—	$	(32,026	)	$	—
Credit facilities and financial liabilities, including current portion, net (1)	$	(1,410,563	)	$	—	$	(1,410,563	)	$	—

F-20

The fair value of the Company’s credit facilities and financial liabilities is estimated based on currently available credit facilities, financial liabilities, interest rate and remaining maturities as well as taking into account the Company’s creditworthiness.

As of June 30, 2024, the estimated fair value of the Company’s vessels measured at fair value on a non-recurring basis, is based on the third party valuation reports and is categorized based upon the fair value hierarchy as follows:

	Fair Value Measurements as at June 30, 2024
	Total		Level I		Level II		Level III
Vessels	$	25,510	$	—	$	25,510	$	—

F-18

NAVIOS MARITIME PARTNERS L.P.

UNAUDITED NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Expressed in thousands of U.S. Dollars except unit and per unit data)

calculated using discounted cash flow, which comprises various assumptions, including the Company’s discount factor of 11.0% and is categorized based upon the fair value hierarchy as follows:


	Fair Value Measurements as at December 31, 2023
	Total			Level I		Level II			Level III
Cash and cash equivalents	$	240,378		$	240,378	$	—		$	—
Restricted cash	$	8,797		$	8,797	$	—		$	—
Other investments	$	47,000		$	47,000	$	—		$	—
Amounts due from related parties, long-term	$	39,570		$	—	$	39,570		$	—
Amounts due to related parties, short-term	$	(32,026	)	$	—	$	(32,026	)	$	—
Credit facilities and financial liabilities, including current portion, net (1)	$	(1,410,563	)	$	—	$	(1,410,563	)	$	—

(1)

As of September 30, 2024, there were no assets measured at fair value on a non-recurring basis. As of June 30, 2024, the estimated fair value of the Company’s vessels measured at fair value on a non-recurring basis, was based on the third party valuation reports and was categorized based upon the fair value hierarchy as follows:


	Fair Value Measurements as at June 30, 2024
	Total		Level I		Level II		Level III
Vessels, net	$	25,510	$	—	$	25,510	$	—

As of December 31, 2023, the estimated fair value of the Company’s right-of-use asset measured at fair value on a non-recurring basis, is based on what a market participant would pay for the right-of-use asset for its highest and best use calculated using discounted cash flow, which comprises various assumptions, including the Company’s discount factor of 11.0% and is categorized based upon the fair value hierarchy as follows:


	Fair Value Measurements as at December 31, 2023
	Total		Level I		Level II		Level III
Operating leases	$	3,595	$	—	$	—	$	3,595

NOTE 89 – REPURCHASES AND ISSUANCE OF UNITS

In July 2022, the Board of Directors of Navios Partners authorized a common unit repurchase program for up to $100,000 of the Company’s common units. Common unit repurchases will be made from time to time for cash in open market transactions at prevailing market prices or in privately negotiated transactions. The timing and amount of repurchases under the program will be determined by Navios Partners’ management based upon market conditions and financial and other considerations, including working capital and planned or anticipated growth opportunities. The program does not require any minimum repurchase or any specific number of common units and may be suspended or reinstated at any time in the Company’s discretion and without notice. The Board of Directors will review the program periodically. As of ~~June~~September 30, 2024, the Company had repurchased ~~100~~296,~~538~~455 common units, for a total cost of approximately $515,000. As of ~~September~~November 411, 2024, the Company had repurchased ~~246~~377,~~573~~290 common units, for a total cost of approximately $1219,~~179~~682.

NOTE 910 – INCOME TAXES

The Republic of the Marshall Islands does not impose a tax on international shipping income. Under the laws of the Marshall Islands, Malta, Liberia, Cayman Islands, Hong Kong, British Virgin Islands, Panama and Belgium, the countries of the vessel-owning subsidiaries’ incorporation and/or vessels’ registration, the vessel-owning subsidiaries are subject to registration and tonnage taxes, which have been included in vessel expenses in the accompanying condensed Consolidated Statements of Operations.

In accordance with the currently applicable Greek law, foreign flagged vessels that are managed by Greek or foreign ship management companies having established an office in Greece on the basis of the applicable licensing regime are subject to tax liability towards the Greek state, which is calculated on the basis of the relevant vessel’s tonnage. A tax credit is recognized for tonnage tax (or similar tax) paid abroad, up to the amount of the tax due in Greece.

F-21

NAVIOS MARITIME PARTNERS L.P.

UNAUDITED NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Expressed in thousands of U.S. Dollars except unit and per unit data)

The owner, the manager and the bareboat charterer or the financial lessee (where applicable) are liable to pay the tax due to the Greek state. The payment of said tax exhausts the tax liability of the foreign ship owning company, the bareboat charterer, the financial lessee (as applicable) and the relevant manager against any tax, duty, charge or contribution payable on income from the exploitation of the foreign flagged vessel outside Greece.

We have elected to be treated and we are currently treated as a corporation for U.S. federal income tax purposes. As such, we are not subject to section 1446 as that section only applies to entities that for U.S. federal income tax purposes are characterized as partnerships.

Pursuant to Section 883 of the Internal Revenue Code of the United States, U.S. source income from the international operation of ships is generally exempt from U.S. income tax if the company operating the ships meets certain incorporation and ownership requirements. Among other things, in order to qualify for this exemption, the company operating the ships must be incorporated in a country, which grants an equivalent exemption from income taxes to U.S. corporations. All the vessel-owning subsidiaries satisfy these initial criteria.

In addition, these companies must meet an ownership test. The management of Navios Partners believes that this ownership test was satisfied prior to the IPO by virtue of a special rule applicable to situations where the ship operating companies are beneficially owned by a publicly traded company. Although not free from doubt, management also believes that the ownership test will be satisfied based on the trading volume and ownership of Navios Partners’ units, but no assurance can be given that this will remain so in the future.

NOTE 1011 – COMMITMENTS AND CONTINGENCIES

Navios Partners is involved in various disputes and arbitration proceedings arising in the ordinary course of business. Provisions have been recognized in the financial statements for all such proceedings where Navios Partners believes that a liability may be probable, and for which the amounts are reasonably estimable, based upon facts known at the date the financial statements were prepared. Management believes the ultimate disposition of these matters will be immaterial individually and in the aggregate to Navios Partners’ financial position, results of operations or liquidity.

~~F-19~~On October 1, 2021, Navios Partners exercised its option to acquire two 5,300 TEU newbuilding containerships, from an unrelated third party, for a purchase price of $61,600 each. On August 26, 2024, Navios Partners took delivery of the Zim Seagull. The remaining vessel is expected to be delivered into Navios Partners’ fleet during the fourth quarter of 2024. Navios Partners agreed to pay in total $18,480 in three installments for each vessel and the remaining amount of $43,120 for each vessel plus extras will be paid upon delivery of the vessel. During the year ended December 31, 2021, the first installment of each vessel of $6,160, or $12,320 accumulated for the two vessels was paid. During the year ended December 31, 2023, the aggregate amount of $18,480 in relation to the second installment for the two vessels and the third installment for one of the vessels was paid. During the nine month period ended September 30, 2024, the aggregate amount of $49,280 in relation to the third installment for the other vessel and the last installment for one of the vessels was paid. As of September 30, 2024, the total amount of $18,480 is presented under the caption “Deposits for vessels acquisitions” in the condensed Consolidated Balance Sheets.

In November 2021, Navios Partners agreed to purchase four 5,300 TEU newbuilding containerships (two plus two optional), from an unrelated third party, for a purchase price of $62,825 each. On April 8, 2024, on June 3, 2024 and on October 7, 2024, Navios Partners took delivery of the Zim Condor, the Zim Hawk and the Navios Utmost, respectively. The remaining vessel is expected to be delivered into Navios Partners’ fleet during the fourth quarter of 2024. Navios Partners agreed to pay in total $25,130 in four installments for each vessel and the remaining amount of $37,695 plus extras for each vessel will be paid upon delivery of the vessel. During the year ended December 31, 2022, the aggregate amount of $43,978 in relation to the first installment for the four vessels, the second installment for two of the vessels and the third installment for one of the vessels was paid. During the year ended December 31, 2023, the aggregate amount of $37,695 in relation to the second installment for the other two vessels, the third installment for two of the vessels and the fourth installment for two of the vessels was paid. During the nine month period ended September 30, 2024, the aggregate amount of $131,933 in relation to the third installment for one of the vessels, the fourth installment for two of the vessels and the last installment for three of the vessels was paid. As of September 30, 2024, the total amount of $87,956 is presented under the caption “Deposits for vessels acquisitions” in the condensed Consolidated Balance Sheets.

In April 2022, Navios Partners agreed to purchase four 115,000 dwt Aframax/LR2 newbuilding tanker vessels, from an unrelated third party, for a purchase price of $58,500 each (plus $4,158 per vessel in additional features). On May 13, 2024, August 12, 2024 and October 21, 2024, Navios Partners took delivery of the Nave Cosmos, the Nave Polaris and the Nave Photon, respectively. The remaining vessel is expected to be delivered into Navios Partners’ fleet during the first half

F-22

NAVIOS MARITIME PARTNERS L.P.

UNAUDITED NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Expressed in thousands of U.S. Dollars except unit and per unit data)

aof ~~liability~~2025. ~~may~~Navios bePartners ~~probable~~agreed to pay in total $23,400 ~~and~~plus extras in four installments for ~~which~~each vessel and the ~~amounts~~remaining ~~are~~amount ~~reasonably~~of ~~estimable~~$35,100 ~~based~~plus extras for each vessel will be paid upon ~~facts~~delivery ~~known~~of ateach vessel. During the ~~date~~year ended December 31, 2022, the ~~financial~~first ~~statements~~installment ~~were~~of ~~prepared~~each vessel of $6,266, or $25,063 accumulated for the four vessels was paid. ~~Management~~During ~~believes~~the year ended December 31, 2023, the ~~ultimate~~aggregate ~~disposition~~amount of ~~these~~$31,329 ~~matters~~in ~~will~~relation beto ~~immaterial~~the ~~individually~~second installment for the four vessels and inthe third installment for one of the vessels was paid. During the nine month period ended September 30, 2024, the aggregate amount of $112,784 in relation to ~~Navios~~the ~~Partners’~~third ~~financial~~installment ~~position~~for the other three vessels, ~~results~~the fourth installment for three of ~~operations~~the orvessels ~~liquidity~~and the last installment for two of the vessels was paid. As of September 30, 2024, the total amount of $43,860 is presented under the caption “Deposits for vessels acquisitions” in the condensed Consolidated Balance Sheets.

OnIn ~~July~~June 22022, ~~2021,~~ Navios Partners agreed to purchase ~~four~~two 5newbuilding liquefied natural gas (LNG) dual fuel 7,~~300~~700 TEU ~~newbuilding~~ containerships, from an unrelated third party, for aan amended purchase price of $61115,~~600~~510 each. On(original ~~November~~price 9,of ~~2023~~$120,610 oneach). ~~January~~The ~~25,~~vessels ~~2024,~~are onexpected ~~July~~to 4,be ~~2024~~delivered ~~and~~into ~~on July 31, 2024,~~ Navios Partners’ ~~took~~fleet ~~delivery~~during of the ~~Sparrow,~~first ~~the~~half ~~Zim~~of ~~Eagle, the Zim Falcon and the Zim Pelican, respectively~~2025. Navios Partners agreed to pay in total $1892,~~480~~408 in ~~three~~four installments for each vessel and the remaining amount of $4323,~~120~~102 for each vessel ~~plus extras~~ will be paid upon delivery of the vessel. During the year ended December 31, ~~2021~~2022, the first installment of each vessel of $623,~~160~~102, or $2446,~~640~~204 accumulated for the ~~four~~two vessels, was paid. During the year ended December 31, ~~2022~~2023, the aggregate amount of $36103,~~960~~959 in relation to the second ~~installment for the four vessels~~ and ~~the~~ third ~~installment~~installments for ~~two of~~ the two vessels, was paid. During the ~~year~~nine month period ended ~~December~~September 3130, ~~2023~~2024, the aggregate amount of $5534,~~440~~653 in relation to the ~~third~~fourth installment for the ~~other~~ two vessels ~~and the last installment for one of the vessels~~ was paid. ~~During the first half of 2024, the amount of $86,240 in relation to the last installment for two of the vessels was paid.~~ As of ~~June~~September 30, 2024, the total amount of $80184,~~080~~816 is presented under the caption “Deposits for vessels acquisitions” in the condensed Consolidated Balance Sheets.

OnIn ~~October~~November 12022, ~~2021,~~ Navios Partners ~~exercised~~agreed ~~its option~~ to acquire two 5115,~~300~~000 ~~TEU~~dwt Aframax/LR2 newbuilding ~~containerships~~tanker vessels, from an unrelated third party, for a purchase price of $6160,~~600~~500 each. On(plus ~~August 26~~$4,158 ~~2024~~per ~~Navios~~vessel ~~Partners~~in ~~took~~additional ~~delivery of the Zim Seagull~~features). The ~~remaining~~vessels ~~vessel~~are is expected to be delivered into Navios Partners’ fleet during the ~~second~~first half of ~~2024~~2025. Navios Partners agreed to pay in total $1824,~~480~~200, plus extras in ~~three~~four installments for each vessel and the remaining amount of $4336,~~120~~300 plus extras for each vessel ~~plus extras~~ will be paid upon delivery of ~~the~~each vessel. During the year ended December 31, ~~2021~~2023, the ~~first~~aggregate ~~installment~~amount of ~~each~~$12,100 ~~vessel~~in ofrelation ~~$6,160,~~to orthe ~~$12,320~~first ~~accumulated~~installment for the two vessels, was paid. During the ~~year~~nine month period ended ~~December~~September 3130, ~~2023~~2024, the aggregate amount of $18,~~480~~150 in relation to the second installment for the two vessels and the third installment for one of the vessels was paid. ~~During the first half of 2024, the amount of $6,160 in relation to the third installment for the other one vessel was paid.~~ As of ~~June~~September 30, 2024, the total amount of $3630,~~960~~250 is presented under the caption “Deposits for vessels acquisitions” in the condensed Consolidated Balance Sheets.

In ~~November~~December ~~2021~~2022, Navios Partners agreed to ~~purchase~~acquire ~~four~~two ~~5,300 TEU~~ newbuilding ~~containerships~~Japanese ~~(two~~MR2 ~~plus~~Product ~~two~~Tanker ~~optional)~~vessels, from an unrelated third party, ~~for~~under abareboat ~~purchase price of $62,825 each~~contracts. OnEach ~~April~~vessel 8,is ~~2024~~being ~~and~~bareboat-in onfor ~~June~~ten 3,years. ~~2024,~~ Navios Partners ~~took~~has ~~delivery of~~ the ~~Zim~~option ~~Condor~~to ~~and~~acquire the ~~Zim Hawk, respectively. The remaining~~ vessels ~~are~~starting ~~expected~~at tothe beend ~~delivered~~of ~~into~~year ~~Navios~~four ~~Partners’~~until ~~fleet during~~ the ~~second~~end ~~half~~ of ~~2024~~the charter period. Navios Partners agreed to pay in total $2518,~~130~~000, inrepresenting ~~four~~a ~~installments~~deposit for ~~each vessel and~~ the ~~remaining~~option ~~amount~~to ofacquire ~~$37,695~~the ~~plus~~vessels ~~extras~~after ~~for~~the ~~each~~end ~~vessel will be paid upon delivery~~ of the ~~vessel.~~fourth ~~During the~~ year. ~~ended~~The ~~December~~vessels ~~31,~~are ~~2022,~~expected ~~the aggregate amount of $43,978 in relation~~ to ~~the~~be ~~first~~delivered ~~installment~~into ~~for~~Navios ~~the~~Partners’ ~~four~~fleet ~~vessels,~~during the second ~~installment~~half ~~for two~~ of ~~the~~2025 ~~vessels~~ and the ~~third~~first ~~installment~~half ~~for one~~ of ~~the vessels was paid~~2026. During the year ended December 31, 2023, the aggregate amount of $379,~~695~~000 in relation to the ~~second~~deposit ~~installment~~ for the ~~other~~option ~~two~~to ~~vessels,~~acquire the ~~third installment for~~ two ~~of the~~ vessels ~~and the fourth installment for two of the vessels was paid. During the first half of 2024~~, ~~the aggregate amount of $87,955 in relation to the third installment for one of the vessels, the fourth installment for one of the vessels and the last installment for two of the vessels~~ was paid. As of ~~June~~September 30, 2024, the total amount of $4311,~~978~~440, including expenses, is presented under the caption “~~Deposits~~Other ~~for~~long-term ~~vessels acquisitions~~assets” in the condensed Consolidated Balance Sheets.

InDuring ~~April~~the ~~2022~~second quarter of 2023, Navios Partners agreed to ~~purchase~~acquire ~~four~~two ~~115,000~~newbuilding ~~dwt~~Japanese ~~Aframax/LR2~~MR2 ~~newbuilding~~Product Tanker vessels, from an unrelated third party, ~~for~~under abareboat ~~purchase~~contracts. ~~price~~Each of

Filing Compare · Navios Maritime Partners L.P.