• Revenue:
  • $410.2 million for Q2 2026
  • $767.2 million for H1 2026
• Net income:
  • $167.9 million for Q2 2026
  • $274.3 million for H1 2026
• Earnings per common unit:
  • $5.78 for Q2 2026
  • $9.42 for H1 2026
• Net cash from operating activities:
  • $186.6 million for Q2 2026
  • $313.3 million for H1 2026
• EBITDA:
  • $275.2 million for Q2 2026
  • $487.8 million for H1 2026
• Returning capital to unitholders:
  • $200.0 million new common unit repurchase program
  • 1,880,880 common units repurchased in 2024 - 2026 (through August 12) for $92.6 million  
    • 135,846 common units repurchased in Q2 2026 for $9.8 million
  • $0.06 cash distribution per unit for Q2 2026; $0.24 per unit annualized for 2026
• Sales and purchases in Q2 – Q3 2026 QTD:  
  • $431.6 million acquisition cost of four newbuilding scrubber-fitted vessels
    • $361.5 million for three VLCC tankers
    • $70.1 million for a capesize vessel
  • $  34.5 million gross sale price for one 4,730 TEU containership; age of 19.2 years
  • One newbuilding vessel delivered
• $4.4 billion contracted revenue as of August 2026
  
  

PIRAEUS, Greece, Aug. 20, 2026 (GLOBE NEWSWIRE) -- Navios Maritime Partners L.P. (“Navios Partners”) (NYSE: NMM), an international owner and operator of dry cargo and tanker vessels, today reported its financial results for the second quarter and six month period ended June 30, 2026.

Angeliki Frangou, Chairwoman and Chief Executive Officer of Navios Partners stated, “I am pleased with our results. For the second quarter and first six months of 2026, we reported net income of $167.9 million and $274.3 million, respectively, representing earnings per common unit of $5.78 and $9.42, respectively. We also declared a quarterly cash distribution of $0.06 per unit.”

Angeliki Frangou continued, “We continue to operate in an environment characterized by heightened uncertainty and geopolitical conflict. The war between Russia and Ukraine remains unresolved, while persistent attacks in the Strait of Hormuz and more recent strikes in the Red Sea have disrupted global trade flows. Against this backdrop, trade has proven surprisingly resilient, and energy prices, though volatile, have remained relatively subdued. These conflicts are likely to have lasting implications for global trade patterns as countries and companies reassess their dependence on maritime choke points for critical resources. Over time, these shifts may result in longer-haul trade routes.”

Common unit repurchases

The Board of Directors of Navios Partners has authorized a new common unit repurchase program for up to $200.0 million. The new program is expected to become effective in the third quarter of 2026. 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 Navios Partners’ discretion and without notice. The Board of Directors will review the program periodically.

Pursuant to its current $100.0 million common unit repurchase program, as of August 12, 2026, Navios Partners had repurchased 1,880,880 common units since the commencement of the program of which 135,846 common units during the second quarter of 2026, for aggregate cash consideration of approximately $92.6 million and $9.8 million, respectively. As of August 12, 2026, there were 28,303,508 common units outstanding.

Cash distribution

The Board of Directors of Navios Partners declared a cash distribution for the second quarter of 2026 of $0.06 per unit. The cash distribution was paid on August 13, 2026 to unitholders of record as of August 10, 2026. The declaration and payment of any cash distributions remain subject to the discretion of the Board of Directors and will depend on, among other things, Navios Partners’ cash requirements as measured by market opportunities and restrictions under its credit agreements and other debt obligations and such other factors as the Board of Directors may deem advisable.

Fleet update Q2 – Q3 2026 QTD

• $431.6 million acquisition cost of four newbuilding scrubber-fitted vessels

• • $361.5 million acquisition cost of three newbuilding scrubber-fitted VLCC tankers

In June and July 2026, Navios Partners agreed to acquire three newbuilding scrubber-fitted VLCC tankers from an unrelated third party for an aggregate purchase price of $361.5 million. The vessels are expected to be delivered into Navios Partners’ fleet during the second half of 2028 and in 2029. The closing of the transactions is subject to completion of customary documentation.

Navios Partners’ total investment in newbuilding VLCC tankers amounts to $843.5 million, including four vessels previously announced. The seven vessels (including one vessel that is currently under advanced discussions with a charterer) have been chartered-out for an average firm period of 6.1 years at an average rate of $45,224 net per day, expected to generate $700.2 million of contracted revenue.

• • $70.1 million acquisition cost of a Japanese newbuilding scrubber-fitted capesize vessel

In July 2026, Navios Partners agreed to acquire a Japanese newbuilding scrubber-fitted capesize vessel from an unrelated third party under a ten-year bareboat-in contract. Navios Partners has the option to acquire the vessel starting at the end of year four until the end of the charter period. Assuming the exercise of the option at the end of the ten-year period, the bareboat agreement reflects an implied purchase price of approximately $70.1 million and an implied effective interest rate of about 6.0%. The vessel is expected to be delivered into Navios Partners’ fleet during the second half of 2029.

• $34.5 million gross sale price for one 4,730 TEU containership

In August 2026, Navios Partners agreed to sell a 2008-built 4,730 TEU containership with an age of 19.2 years (based on the estimated delivery date) to an unrelated third party for a gross sale price of $34.5 million. The sale is expected to be completed in the second half of 2027.

• One newbuilding vessel delivered

In August 2026, Navios Partners took delivery of a 2026-built aframax/LR2 scrubber-fitted tanker, which has been chartered-out at a rate of $27,420 net per day for a period of about five years.

• $606.3 million additional contracted revenue agreed; $4.4 billion total contracted revenue

Navios Partners has entered into additional long-term charters which are expected to generate revenue of $606.3 million.

• • Six tankers have been chartered-out for an average period of 5.5 years at an average rate of $36,422 net per day.
  • Four containerships have been chartered-out for an average period of 2.9 years at an average rate of $30,132 net per day.
  • Two capesize vessels have been chartered-out for an average period of two years at an average rate of $26,309 net per day.

Including the above long-term charters, Navios Partners currently has $4.4 billion contracted revenue through 2037.

Financing update

As previously announced, Navios Partners successfully completed a $30.0 million tap issue of its outstanding senior unsecured bond due November 7, 2030. The tap issue was priced at 102.75% of par and was initiated by a reverse inquiry. The net proceeds from the tap issue were applied towards general corporate purposes.

As discussed above, Navios Partners agreed to enter into a bareboat-in agreement for a Japanese newbuilding scrubber-fitted capesize vessel. The implied financing amount for the vessel is approximately $64.6 million and the implied effective interest rate is about 6.0%. The closing of the transaction is subject to completion of customary documentation.

Operating highlights

Navios Partners owns and operates a fleet consisting of 66 dry bulk vessels, 50 containerships and 60 tankers, including three newbuilding capesize vessels (chartered-in vessels under bareboat contracts) that are expected to be delivered in the second half of 2028 and during 2029, seven newbuilding containerships (three 7,900 TEU containerships and four 8,850 TEU containerships) that are expected to be delivered through the first half of 2028 and 19 newbuilding tankers (seven VLCC tankers, eight aframax/LR2 and four MR2 product tanker chartered-in vessels under bareboat contracts) that are expected to be delivered through 2029. The fleet excludes a 4,730 TEU containership that has been agreed to be sold.

As of August 12, 2026, Navios Partners had entered into short, medium and long-term time charter-out, bareboat-out and freight voyage agreements for its vessels with a remaining average term of 2.3 years. Navios Partners has fixed 77.1% and 50.9% of its available days for the last six months of 2026 and for 2027, respectively. Navios Partners expects contracted revenue of $591.2 million and $884.8 million for the last six months of 2026 and for 2027, respectively. The average expected daily charter-out rate for the fleet is $28,100 and $29,808 for the last six months of 2026 and for 2027, respectively.

EARNINGS HIGHLIGHTS

For the following results and the selected financial data presented herein, Navios Partners has compiled condensed consolidated statements of operations for the three and six month periods ended June 30, 2026 and 2025. The quarterly information was derived from the unaudited condensed consolidated financial statements for the respective periods. EBITDA, Adjusted EBITDA, Adjusted Earnings per Common Unit basic and diluted and Adjusted Net Income are non-GAAP financial measures and should not be used in isolation or substitution for Navios Partners’ results calculated in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”).

Three month periods ended June 30, 2026 and 2025

Time charter and voyage revenues for the three month period ended June 30, 2026 increased by $82.6 million, or 25.2%, to $410.2 million, as compared to $327.6 million for the same period in 2025. The increase in revenue was mainly attributable to the increase in the Time Charter Equivalent (“TCE”) rate. For the three month periods ended June 30, 2026 and 2025, time charter and voyage revenues were positively affected by $2.7 million and $6.5 million, respectively, relating to the straight line effect of the charters with de-escalating rates. The TCE rate increased by 23.8% to $28,512 per day, as compared to $23,040 per day for the same period in 2025. The available days of the fleet decreased by 1.8% to 13,152 days for the three month period ended June 30, 2026, as compared to 13,388 days for the same period in 2025.

EBITDA of Navios Partners for the three month periods ended June 30, 2026 and 2025 was affected by the item described in the table above. Excluding this item, Adjusted EBITDA increased by $69.6 million to $242.2 million for the three month period ended June 30, 2026, as compared to $172.6 million for the same period in 2025. The increase in Adjusted EBITDA was due to: (i) an $82.6 million increase in time charter and voyage revenues; (ii) a $1.9 million decrease in vessel operating expenses due to a 2.5% decrease in the opex days, partially mitigated by an increase of 0.6% in the opex daily rate to $7,152; and (iii) a $0.5 million decrease in other expense, net. The above increase was partially mitigated by a: (i) $14.4 million increase in time charter and voyage expenses, primarily reflecting additional insurance premiums, reimbursed by charterers; and (ii) $1.0 million increase in general and administrative expenses.

Net Income for the three month periods ended June 30, 2026 and 2025 was affected by the item described in the table above. Excluding this item, Adjusted Net Income increased by $70.7 million to $135.0 million for the three month period ended June 30, 2026, as compared to $64.3 million for the same period in 2025. The increase in Adjusted Net Income was due to a: (i) $69.6 million increase in Adjusted EBITDA; (ii) $4.2 million decrease in interest expense and finance cost, net; and (iii) $1.0 million increase in interest income. The above increase was partially mitigated by a: (i) $2.2 million increase in depreciation and amortization; and (ii) $1.9 million decrease in amortization of unfavorable lease terms.

Six month periods ended June 30, 2026 and 2025

Time charter and voyage revenues for the six month period ended June 30, 2026 increased by $135.5 million, or 21.5%, to $767.2 million, as compared to $631.7 million for the same period in 2025. The increase in revenue was mainly attributable to the increase in the TCE rate. For the six month periods ended June 30, 2026 and 2025, time charter and voyage revenues were positively affected by $10.2 million and $3.9 million, respectively, relating to the straight line effect of the charters with de-escalating rates. The TCE rate increased by 22.3% to $27,098 per day, as compared to $22,154 per day for the same period in 2025. The available days of the fleet decreased by 2.2% to 26,256 days for the six month period ended June 30, 2026, as compared to 26,844 days for the same period in 2025.

EBITDA of Navios Partners for the six month periods ended June 30, 2026 and 2025 was affected by the item described in the table above. Excluding this item, Adjusted EBITDA increased by $120.1 million to $446.3 million for the six month period ended June 30, 2026, as compared to $326.2 million for the same period in 2025. The increase in Adjusted EBITDA was due to a: (i) $135.5 million increase in time charter and voyage revenues; (ii) $1.7 million decrease in vessel operating expenses due to a 2.7% decrease in the opex days, partially mitigated by a 1.8% increase in the opex daily rate to $7,174; and (iii) $1.1 million decrease in other expense, net. The above increase was partially mitigated by a: (i) $15.4 million increase in time charter and voyage expenses, primarily reflecting additional insurance premiums, reimbursed by charterers; and (ii) $2.8 million increase in general and administrative expenses mainly due to higher euro-dollar exchange rate prevailing during the first half of 2026.

Net Income for the six month periods ended June 30, 2026 and 2025 was affected by the item described in the table above. Excluding this item, Adjusted Net Income increased by $120.7 million to $232.7 million for the six month period ended June 30, 2026, as compared to $112.0 million for the same period in 2025. The increase in Adjusted Net Income was primarily due to a: (i) $120.1 million increase in Adjusted EBITDA; (ii) $7.1 million decrease in interest expense and finance cost, net; and (iii) $0.9 million increase in interest income. The above increase was partially mitigated by a: (i) $5.2 million increase in depreciation and amortization; and (ii) $2.2 million decrease in amortization of unfavorable lease terms.

Fleet Employment Profile

The following table reflects certain key indicators of Navios Partners’ core fleet performance for the three and six month periods ended June 30, 2026 and 2025.

Conference Call Details:

Navios Partners’ management will host a conference call on Thursday, August 20, 2026 to discuss the results for the second quarter and six months ended June 30, 2026.

Call Date/Time: Thursday, August 20, 2026 at 8:30 am ET
Call Title: Navios Partners Q2 2026 Financial Results Conference Call 
US Dial In: +1.800.267.6316
International Dial In: +1.203.518.9783
Conference ID: NMMQ226

The conference call replay will be available two hours after the live call and remain available for one week at the following numbers:

US Replay Dial In: +1.800.839.1320
International Replay Dial In: +1.402.220.0488

Slides and audio webcast:

There will also be a live webcast of the conference call, through the Navios Partners website (www.navios-mlp.com) under “Investors”. Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast.

A supplemental slide presentation will be available on the Navios Partners website at www.navios-mlp.com under the “Investors” section at 8:00 am ET on the day of the call. 

About Navios Maritime Partners L.P.

Navios Maritime Partners L.P. (NYSE: NMM) is an international owner and operator of dry cargo and tanker vessels. For more information, please visit our website at www.navios-mlp.com.

Forward-Looking Statements

This press release 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 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, continuing issues related to seaborne volume and ton miles and the impact of tariffs, the adequacy of our insurance arrangements and our ability to obtain insurance and required certifications, 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, the repayment of debt and servicing of our bonds, 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, the growing expectations from investors, lenders, charterers, and other market participants regarding our sustainability practices, as well as our capacity to implement sustainability initiatives and achieve our objectives and targets, and other factors listed from time to time in Navios Partners’ filings with the Securities and Exchange Commission, including its Form 20-Fs and Form 6-Ks. 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.

Contacts

Navios Maritime Partners L.P.
+1.212.906.8645
Investors@navios-mlp.com 

Nicolas Bornozis
Capital Link, Inc.
naviospartners@capitallink.com

EXHIBIT 1

Earnings per unit:

EXHIBIT 2

EXHIBIT 3

Disclosure of Non-GAAP Financial Measures

EBITDA, Adjusted EBITDA, Adjusted Net Income and Adjusted Earnings per Common Unit, basic and diluted are “non-U.S. GAAP financial measures” and should not be used in isolation or considered substitutes for net income/ (loss), cash flow from operating activities and other operations or cash flow statement data prepared in accordance with generally accepted accounting principles in the United States.

EBITDA represents net income before interest and finance costs, depreciation and amortization and income taxes. Adjusted EBITDA represents EBITDA excluding certain items, as described under “Earnings Highlights”. 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 in operating assets; (ii) net increase in operating liabilities; (iii) net interest cost; (iv) amortization and write-off of deferred finance costs and bond premium; (v) amortization of operating lease assets/ liabilities; (vi) other non-cash adjustments; and (vii) gain/ (loss) on sale of vessels, net. Navios Partners believes that EBITDA and Adjusted EBITDA are each the basis upon which liquidity can be assessed and present 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.

We present Adjusted Net Income by excluding items that we do not believe are indicative of our core operating performance. Our presentation of Adjusted Net Income adjusts net income for the items described above under “Earnings Highlights”. The definition of Adjusted Net Income used here may not be comparable to that used by other companies due to differences in methods of calculation. Adjusted Earnings per Common Unit is defined as Adjusted Net Income divided by the weighted average number of common units outstanding for each of the periods presented, basic and diluted.

EXHIBIT 4

Navios Maritime Partners L.P. Reconciliation of EBITDA and Adjusted EBITDA to Cash from Operations