Navios Maritime Partners reported a revenue of $357 million and a profit of $106.3 million for the first quarter ended March 31, 2026.
This represents an increase from the revenue of $304.1 million and profit of $41.7 million recorded during the same period in 2025.
During the quarter, the shipping firm's average daily charter-out rate rose by 20.7 per cent to $25,679, up from $21,271 in the previous year. The company attributed this financial growth primarily to the improvement in the average daily charter rate.
To expand its operations, Navios Maritime agreed to acquire six newbuilding vessels fitted with exhaust gas cleaning systems for an aggregate cost of $616.3 million.
These acquisitions include four tankers priced at $482 million and two dry bulk carriers acquired under 12-year bareboat-in contracts representing an implied cost of approximately $134.3 million.
The four tankers are scheduled for delivery during the second half of 2028, whilst the company indicated that the two dry bulk vessels are expected to enter the fleet between the second half of 2028 and the first quarter of 2029. These six vessels have already been secured under long-term charter agreements of approximately five years.
Alongside these acquisitions, the shipping company generated $189.3 million in gross proceeds from selling five older vessels with an average age of 17 years. These sales comprised two tankers for $136.5 million, a containership for $30 million, and two dry bulk vessels for $22.8 million.
Chief Executive Officer Angeliki Frangou noted that geopolitical tensions, particularly the Iranian conflict, have highlighted the strategic importance of the Strait of Hormuz for commodity movements.
Stating that the company expects this conflict to have lasting implications on global trade as businesses seek safer alternative routes, Frangou remarked, “It is too early to assess the long-term impact, and we are monitoring developments closely.”
