Navios Maritime Partners reported its financial results for the third quarter of 2025, posting net income of $56.3 million, compared to $97.8 million in the same period of 2024.
Revenue for the quarter was $346.9 million, a slight increase from $340.8 million in Q3 2024, driven by a 2.4 per cent rise in the time charter equivalent (TCE) rate to $24,167 per day.
Adjusted EBITDA for the third quarter was $194 million, slightly down from $195.4 million in the prior-year period. The decrease was primarily due to lower other income and higher operating expenses, partially offset by increased revenue and lower voyage expenses. Earnings per common unit were $1.90 for the quarter.
Angeliki Frangou, Chairwoman and CEO, stated, “I am pleased with our results...For the past five years, we have been addressing constant change in our operating environment. Yet, we have remained laser focused on our business, modernising our fleet, to an average age of 9.7 years, increasing our book of contracted revenue to $3.7 billion and decreasing our net LTV to 34.5 per cent.”
During the quarter, Navios agreed to acquire four 8,850 TEU newbuilding containerships for $460.4 million, expected for delivery in late 2027 and early 2028. These vessels have been chartered out for 5.2 years. The company also sold six older vessels for gross proceeds of $105.7 million.
Navios declared a cash distribution of $0.05 per unit for the third quarter. The company also successfully placed $300 million of senior unsecured bonds in the Nordic market in October 2025.
