Navios Maritime Partners sells two dry bulk vessels, agrees to sell tanker vessel

[A large oil tanker and tugs in the port of Rotterdam]
claffra/iStock via Getty Images

Navios Maritime Partners (NYSE:NMM [https://seekingalpha.com/symbol/NMM]) said Thursday it has sold [https://seekingalpha.com/pr/20269682-navios-maritime-partners-l-p-announces-recent-fleet-developments] two dry bulk vessels and has agreed to sell one tanker vessel, generate a combined $69.1 million in gross sale proceeds, while also taking delivery of a tanker vessel and chartering out three containerships and two tanker vessels.

Navios Partners (NYSE:NMM [https://seekingalpha.com/symbol/NMM]) said it completed the sale of two Panamax vessels for a gross sale price of $8.3 million each, expects to complete the sale of a Very Large Crude Carrier for a gross sale price of $52.5 million, and took delivery of an MR2 product tanker, which has been chartered out at a $22,669 net dayrate for a period of about five years.

Following the vessel sales and delivery, Navios Partners (NMM [https://seekingalpha.com/symbol/NMM]) said it owns and operates a fleet of 172 vessels, comprised of 65 dry bulk vessels, 51 containerships and 56 tankers.

The company also said it entered into new long-term charters which are expected to generate revenue of $113.9 million; three 4,250 TEU containerships were chartered out for an average period of 2.6 years at an average $35,085 net dayrate, and two MR2 product tankers were chartered out for an average period of 1.1 years at an average $19,196 net dayrate.

Navios Partners (NMM [https://seekingalpha.com/symbol/NMM]) said it expects contracted revenue of $580.4 million and $749.9 million for H2 2025 and FY 2026, respectively, with average expected daily charter-out rates for the fleet at $24,399 and $28,092 for H2 2025 and FY 2026, respectively.

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