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NMM

Navios Maritime Partners LP Representing Limited Partner Interests New York Stock Exchange
$26.48
Open: $26.97 High: $29.36 Low: $26 Close: $26.12
Range: 2021-04-19 - 2021-04-20
Volume: 1,646,292
Market: Extended-hours
Powered by Finage Stock APIDelayed data
NMM
Navios Maritime Partners LP Representing Limited Partner Interests 7 Avenue de Grande Bretagne Monte Carlo , MC 98000 http://www.navios-mlp.com
Navios Maritime Partners LP owns and operates dry cargo and container vessels. It provides seaborne transportation services to a range of dry cargo commodities chartering its vessels under medium to long-term charters.
  • CEO: Angeliki Frangou
  • Employees: 186
  • Sector: Industrials
  • Industry: Transportation & Logistics
NMM News
Latest news about the NMM
  • American Airlines (AAL) Boosts Summer Schedule on Higher Demand

    American Airlines (AAL) expects its summer domestic capacity to be more than 90% of 2019 level, while international capacity is anticipated to be 80%.

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  • American Airlines (AAL) Expects Q1 Revenues to Decline 62%

    American Airlines (AAL) anticipates first-quarter 2021 revenues to plunge 62% from 2019 levels due to coronavirus-led suppressed air-travel demand. However, the airline improves its cash burn view.

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  • United Airlines' (UAL) Q1 Revenue View Weaker Than Expected

    United Airlines (UAL) estimates first-quarter 2021 revenues to decline 66% from the 2019 levels due to coronavirus-led suppressed air-travel demand.

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  • Navios Maritime Partners LP (NMM) Surges 6.3%: Is This an Indication of Further Gains?

    Navios Maritime Partners LP (NMM) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions could translate into further price increase in the near term.

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  • Southwest (LUV) Recalls Flight Attendants to Meet Summer Demand

    Southwest (LUV) recalls more than 2,700 flight attendants from a voluntary leave program to take advantage of the increased demand during summers.

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  • Navios Maritime Partners' (NMM) Shares March Higher, Can It Continue?

    As of late, it has definitely been a great time to be an investor in Navios Maritime Partners L.P. (NMM).

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  • Ryanair (RYAAY) Expects Slow EU Vaccine Rollout to Hit Traffic

    Ryanair (RYAAY) expects its fiscal 2022 traffic to be affected by Easter travel restrictions resulting from slow vaccine rollout in the EU. However, the airline narrows fiscal 2021 net loss forecast.

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  • Should Value Investors Buy Navios Maritime Partners LP (NMM) Stock?

    Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

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  • Allegiant (ALGT) to Open New Base in Austin This November

    Allegiant (ALGT) to invest $75 million to establish a new base at the South Terminal of Austin-Bergstrom International Airport, which is expected to create at least 89 high-wage jobs.

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  • Canadian National (CNI) Hits Grain Movement Record in March

    Canadian National's (CNI) shipment of 2.95 MMT of Canadian grain in March hits a record for the 13th consecutive month.

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  • Spirit Airlines (SAVE) to Begin Los Angeles-Mexico Flights

    Spirit Airlines (SAVE) to increase flight offerings out of Los Angeles International Airport by introducing international service for the first time.

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  • Navios Maritime Partners L.P. Announces Availability of Its Form 20-F for the Year Ended December 31, 2020

    MONACO, April 01, 2021 (GLOBE NEWSWIRE) -- Navios Maritime Partners L.P. ("Navios Partners") (NYSE:NMM) announced that its Annual Report on Form 20-F for the year ended December 31, 2020 has been filed with the SEC and can be accessed on Navios Partners' website www.navios-mlp.com under the "Investors" section. Alternatively, unitholders may also request a hard copy of the complete audited financial statements, free of charge, by contacting Navios Partners at: Navios Maritime Partners L.P.Attn: 20-F Request7, Avenue de Grande BretagneOffice 11B2MC 98000 Monaco Tel: +1 (212) 906 8645Email: Investors@navios-mlp.com About Navios Maritime Partners L.P.Navios Partners (NYSE:NMM) is a publicly traded master limited partnership which owns and operates dry cargo vessels. For more information, please visit our website at www.navios-mlp.com. ContactNavios Maritime Partners L.P.+1 (212) 906 8645Investors@navios-mlp.com Nicolas BornozisCapital Link, Inc.naviospartners@capitallink.com

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  • Navios Maritime Partners L.P. Completes Acquisition of Navios Maritime Containers L.P.

    MONACO, April 01, 2021 (GLOBE NEWSWIRE) -- Navios Maritime Partners L.P. (“Navios Partners”) (NYSE: NMM) announced that it completed the acquisition of Navios Maritime Containers L.P. (“Navios Containers”) (NASDAQ: NMCI). As of the close of the market on March 31, 2021, Navios Containers’ common units were no longer listed for trading on NASDAQ. Angeliki Frangou, Chairman and Chief Executive Officer, stated “We are pleased to close this transformative transaction which provides Navios Partners with significant benefits of diversification. The transaction builds scale through a larger, diversified asset base with an increased earnings capacity. The enlarged entity will benefit from a simplified capital and organizational structure thereby eliminating duplicative costs. The entity will have an enhanced credit profile through increased cash flow supporting deleveraging as well as growth. Moreover, the large asset base will provide the entity a significant buffer of collateral value. We believe that the combined entity will be an attractive investment opportunity for investors.” Merger Transaction HighlightsUnder the terms of the transaction, Navios Partners acquired all of the publicly held common units of Navios Containers through the issuance of approximately 8,232,789 newly issued common units of Navios Partners in exchange for the publicly held common units of Navios Containers at an exchange ratio of 0.39 units of Navios Partners for each Navios Containers common unit. Based on the March 31, 2021 closing price of Navios Partners, this exchange ratio would provide the holders of the publicly held common units with consideration of $9.19 per common unit of Navios Containers, representing a premium of 325.4% to Navios Containers’ closing price on November 13, 2020, the last trading day before Navios Partners announced its proposal to acquire all publicly held common units of Navios Containers, and a premium of 124.1% to Navios Containers’ closing price as of December 31, 2020, the last trading day before announcement of the merger agreement executed in connection with the acquisition. Navios Partners expects the transaction to: Simplify the capital and organizational structureCreate significant savings in public company costsReduce cost of capital, by increasing trading liquidity, float and access to the capital marketsBuild scale through a larger, diversified asset base capable of generating increased earnings capacityEnhance credit profile by increasing cash retention to support growth and deleveragingIncrease collateral value to assist in refinancing debt maturitiesProvide all public unitholders of Navios Containers with the opportunity to continue to participate in the combined company Fried, Frank, Harris, Shriver & Jacobson LLP acted as legal advisor and S. Goldman Advisors LLC acted as financial advisor to Navios Partners. About Navios Maritime Partners L.P.Navios Maritime Partners L.P. (NYSE: NMM) is a publicly traded master limited partnership which owns and operates dry cargo vessels. For more information, please visit our website at www.navios-mlp.com. Forward-Looking StatementsThis press release contains 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 and expectations, including with respect to the timing of closing of the proposed Merger and the expected impact of the Merger on Navios Partners’ capital and organizational structure, the trading liquidity and float of Navios Partners’ common units and Navios Partners’ access to the capital markets, credit profile, cash retention, future profitability, expected cost savings and cost of capital. Words such as “anticipates,” “believes,” “continues”, “could”, “estimates,” “expects,” “intends,” “may,” “plans,” “potential”, “predicts”, “projects,” “seeks,” “should,” “will,” and variations of such words and similar expressions are intended to identify forward-looking statements. These forward-looking statements include statements relating to the expected benefits of the transaction and expectations regarding the combined entity. These 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 the impact of the COVID-19 pandemic and efforts throughout the world to contain its spread, including effects on 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, shipyards performing scrubber installations, drydocking and repairs, changing vessel crews and availability of financing; potential disruption of shipping routes due to accidents, diseases, pandemics, political events, piracy or acts by terrorists, including the impact of the COVID-19 pandemic and the ongoing efforts throughout the world to contain it; 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 cargo shipping sector in general and the demand for our Panamax, Capesize, Ultra-Handymax and Containerships in particular, fluctuations in charter rates for dry cargo carriers and container 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, 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 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 8645Investors@navios-mlp.com Nicolas BornozisCapital Link, Inc.+1 (212) 661 7566naviospartners@capitallink.com

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  • Southwest (LUV) to Offer Pre-Clearance on Travel to Hawaii

    Southwest (LUV) customers traveling to Hawaii from California can now avail the Hawaii Safe Travels program to bypass the mandatory 10-day quarantine on arrival in the island state.

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  • Can Navios Maritime Partners LP (NMM) Run Higher on Rising Earnings Estimates?

    Navios Maritime Partners LP (NMM) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.

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  • Navios Maritime Partners L.P. -- Moody's affirms Navios Partners' B2 CFR; changes outlook to stable

    Rating Action: Moody's affirms Navios Partners' B2 CFR; changes outlook to stableGlobal Credit Research - 29 Mar 2021London, 29 March 2021 -- Moody's Investors Service ("Moody's") has today affirmed the corporate family rating (CFR) of B2 and probability of default rating (PDR) of B2-PD at Navios Maritime Partners L.P. (Navios Partners, company or NMM). Moody's has also changed the outlook to stable from negative.RATINGS RATIONALEThe affirmation and outlook stabilization reflects the credit positive merger of NMM with Navios Maritime Containers L.P. (NMCI), which increases scale, diversifies the business further into container shipping and enhances customer diversification while leverage increases only slightly by 0.4x, pro-forma for 2020. Given NMM's focus on shorter term charters the company benefits from the good market environment and would achieve solid credit metrics, including a Moody's-adjusted debt/EBITDA of potentially below 3.0x if the environment persists over 2021.However, the rating and outlook also continue to balance that Moody's considers the market environment as currently strong in a historical context and given the significant market volatility and exposure of NMM, that credit metrics are likely to remain more volatile through the cycle.The merger with NMCI strengthens NMM's business profile, because it increases scale by 56% for 2020, adding 29 container vessels at slightly higher average age and significantly diversifying the customer base towards the traditional liner companies.

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  • United Airlines (UAL) to Expand Network for Summer Travel

    United Airlines (UAL) announces an expanded domestic and international May schedule to cater to the anticipated increase in demand during summer.

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  • Ryanair (RYAAY) Expands Summer Schedule Despite Spike in COVID-19

    Ryanair (RYAAY) expands its U.K. summer 2021 schedule, expecting the government to open up travel during the summers following a successful vaccine rollout program.

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  • American Airlines (AAL) Inks 5-Year Agreement with Fareportal

    American Airlines' (AAL) five-year agreement with Fareportal is encouraging, given the optimism surrounding improvement in travel demand in 2021.

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  • What Does Navios Maritime's Debt Look Like?

    Shares of Navios Maritime Holdings (NYSE:NM) moved higher by 280.18% in the past three months. Before having a look at the importance of debt, let us look at how much debt Navios Maritime Holdings has. Navios Maritime Holdings's Debt According to the Navios Maritime Holdings's most recent balance sheet as reported on April 21, 2020, total debt is at $1.43 billion, with $1.41 billion in long-term debt and $25.39 million in current debt. Adjusting for $77.99 million in cash-equivalents, the company has a net debt of $1.35 billion. Let's define some of the terms we used in the paragraph above. Current debt is the portion of a company's debt which is due within 1 year, while long-term debt is the portion due in more than 1 year. Cash equivalents include cash and any liquid securities with maturity periods of 90 days or less. Total debt equals current debt plus long-term debt minus cash equivalents. Shareholders look at the debt-ratio to understand how much financial leverage a company has. Navios Maritime Holdings has $2.14 billion in total assets, therefore making the debt-ratio 0.67. As a rule of thumb, a debt-ratio more than one indicates that a considerable portion of debt is funded by assets. A higher debt-ratio can also imply that the company might be putting itself at risk for default, if interest rates were to increase. However, debt-ratios vary widely across different industries. A debt ratio of 35% might be higher for one industry and normal for another. Importance Of Debt Debt is an important factor in the capital structure of a company, and can help it attain growth. Debt usually has a relatively lower financing cost than equity, which makes it an attractive option for executives. Interest-payment obligations can impact the cash-flow of the company. Having financial leverage also allows companies to use additional capital for business operations, allowing equity owners to retain excess profit, generated by the debt capital. Looking for stocks with low debt-to-equity ratios? Check out Benzinga Pro, a market research platform which provides investors with near-instantaneous access to dozens of stock metrics - including debt-to-equity ratio. Click here to learn more. See more from BenzingaClick here for options trades from Benzinga12 Industrials Stocks Moving In Friday's Intraday SessionStocks That Hit 52-Week Highs On Friday© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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