Navios Maritime Partners L.P. Reports Financial Results for the Fourth Quarter and Year Ended December 31, 2025

Financial Performance - For Q4 2025, Navios Partners reported a net income of $117.3 million and EBITDA of $224.8 million, with earnings per common unit at $3.99. For the full year 2025, net income was $285.3 million and EBITDA was $744.6 million, with earnings per common unit at $9.59 [2][5][19]. - Revenue for Q4 2025 was $365.6 million, a 10% increase from $332.5 million in Q4 2024. For the full year, revenue was $1,344.1 million, a slight increase of 0.7% from $1,334.1 million in 2024 [21][26]. Distribution Policy - The company announced a 20% increase in its distribution policy to $0.24 per unit annually, effective from Q1 2026, translating to $0.06 per unit quarterly [2][6][5]. Fleet and Operations - As of February 12, 2026, Navios Partners had repurchased 1,603,713 common units for approximately $72.9 million, with a total of 28,580,675 common units outstanding [3]. - The fleet consists of 67 dry bulk vessels, 51 containerships, and 53 tankers, including 16 newbuilding tankers expected to be delivered through the first half of 2028 [17]. - The company has contracted revenue of $3.8 billion through 2037, with $261 million in new long-term charters expected to generate additional revenue [10][11]. Vessel Transactions - In Q4 2025, Navios Partners acquired two Japanese newbuilding capesize vessels for $134.3 million and agreed to sell two VLCC tankers for $136.5 million [7][8]. - A newbuilding aframax/LR2 tanker was delivered in February 2026, chartered out at a rate of $27,431 net per day for approximately five years [9]. Financial Position - As of December 31, 2025, total assets were $5.93 billion, with total liabilities at $2.59 billion and total partners' capital at $3.34 billion [41]. - Cash and cash equivalents increased to $413.5 million from $312.1 million in 2024 [41]. Market Environment - The company noted that geopolitical tensions and new trade agreements are reshaping trade routes, impacting costs and transit times. This evolving landscape is seen as an opportunity for Navios Partners to leverage its diversified fleet and risk management culture [2].