Navios Maritime Partners L.P.(NMM) - 2020 Q3 - Earnings Call Presentation

Financial Performance - Navios Maritime Acquisition Corporation (NNA) Q3 2020 adjusted EBITDA increased by 552% to $371 million compared to $239 million in Q3 2019[10] - NNA's 9M 2020 adjusted EBITDA increased by 901% to $1660 million compared to $873 million in 9M 2019[10] - NNA reduced debt by $813 million, representing 7% of outstanding debt[6,10] - NNA's LTM Revenue is $3743 million and LTM Adjusted EBITDA is $2102 million[6] Fleet and Chartering Strategy - NNA has a modern and diverse tanker fleet of 54 vessels, including 14 VLCCs and 7 containerships, with an average age of nine years[6] - NNA has approximately $500 million in contracted revenue[6] - NNA's chartering strategy includes 383% of available days in 2021 fixed on base rate and 134% fixed with profit sharing arrangements, leaving 443% open[6,10] - NNA's core fleet for 2021 has 16576 available days[10,26] Market Overview and Outlook - VLCCs 20+ years of age represent 7% of the current fleet, with another 11% aging into that category in the next three years[7] - 115% of the VLCC fleet is engaged in floating storage as of November[7,37] - China's refinery capacity expansions will require an additional 42 VLCCs for 2020-2021 expansions and 45 VLCCs for 2022 expansions[7]