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q2 2015 Earnings Presentation – Navios Maritime Partners Lp

Navios Maritime Partners Lp · Jul 30, 2015 · 30 slides

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Slides

  1. q2 2015 Earnings Presentation – Navios Maritime Partners Lp – slide 1
    CONFIDENTIAL DO NOT DISTRIBUTE Navios Partners Ownership Structure Navios Maritime Holdings Inc. Common Unitholders NYSE: NM 100% Membership Interest Navios GP L.L.C. (General Partner) 18.1% Limited Partner Interest 79.9%…
  2. q2 2015 Earnings Presentation – Navios Maritime Partners Lp – slide 2
    CONFIDENTIAL DO NOT DISTRIBUTE Company Highlights Entered container sector in December 2013 540.5 million invested in eight container vessels Container Focused MLP 0.8 billion (65.5% of contracted revenues) from container vessels…
  3. q2 2015 Earnings Presentation – Navios Maritime Partners Lp – slide 3
    CONFIDENTIAL DO NOT DISTRIBUTE Container Sector: Stable Cash Flow Entered container sector in December 2013 Diversified risk / revenue from drybulk vessels Solidified cash flow generation; Long-term charters extend remaining…
  4. q2 2015 Earnings Presentation – Navios Maritime Partners Lp – slide 4
    CONFIDENTIAL DO NOT DISTRIBUTE Drybulk Sector: Capturing Recovery Capesize spot rates increased by 305% from Q1 Panamax spot rates increased by 149% from Q1 Fixed days Fixed Chartering strategy - capture market H2 2015 with Open…
  5. q2 2015 Earnings Presentation – Navios Maritime Partners Lp – slide 5
    CONFIDENTIAL DO NOT DISTRIBUTE Company Developments New Charters for two Capesize vessels Navios Fulvia 13,443 net per day (14,150 gross) for 16-21 months (through December 2016 May 2017) Expected aggregate EBITDA generation of…
  6. q2 2015 Earnings Presentation – Navios Maritime Partners Lp – slide 6
    CONFIDENTIAL DO NOT DISTRIBUTE Liquidity June 30, 2015 (US million) Cash (1) 49.0 Cash (1) 49.0 Debt 608.5 Partners' Capital 768.8 Available credit line (2) 60.0 Capitalization 1,377.3 Net Debt / Capitalization 40.6% Total…
  7. q2 2015 Earnings Presentation – Navios Maritime Partners Lp – slide 7
    CONFIDENTIAL DO NOT DISTRIBUTE Multiple Avenues of Distribution Growth Increases since IPO: 26.4% distribution 343% number of vessels 420% operational fleet capacity Attractive Opportunities in the Navios Group Vessels…
  8. q2 2015 Earnings Presentation – Navios Maritime Partners Lp – slide 8
    CONFIDENTIAL DO NOT DISTRIBUTE Q2 & H1 2015 Earnings Highlights Earnings Highlights (US million) Y-O-Y Y-O-Y except active vessels and available days Q2 2015 Q2 2014 Variance H1 2015 H1 2014 Variance Time charter revenue 56.5 (1)…
  9. q2 2015 Earnings Presentation – Navios Maritime Partners Lp – slide 9
    CONFIDENTIAL DO NOT DISTRIBUTE Balance Sheet Selected Balance Sheet Data (US million) June 30, 2015 December 31, 2014 Cash & cash equivalents (1) 49.0 100.4 Other current assets 14.0 14.8 Vessels, net 1,259.4 1,139.4 1,405.6…
  10. q2 2015 Earnings Presentation – Navios Maritime Partners Lp – slide 10
    CONFIDENTIAL DO NOT DISTRIBUTE Q2 2015 Cash Distribution Cash Distribution of 0.4425 per unit for Q2 2015 (1.77 annualized) Record Date: August 13, 2015 Payment Date: August 14, 2015 Operating Surplus: 29.3 million Common Unit…
  11. q2 2015 Earnings Presentation – Navios Maritime Partners Lp – slide 11
    CONFIDENTIAL DO NOT DISTRIBUTE Modern, Diverse Fleet 31 Vessels (3.3 million dwt) Average age of combined fleet(1): 8.1 years 23 Dry Bulk Vessels 8 Container Vessels 2.5 million dwt 63,508 TEU 8 Capesize 12 Panamax 3…
  12. q2 2015 Earnings Presentation – Navios Maritime Partners Lp – slide 12
    CONFIDENTIAL DO NOT DISTRIBUTE Portfolio of Industry Leading Charterers Contracted Revenue 2015 Contracted Revenue by Charterer Average Charter Duration: approx. 3.3 years Bunge; 2.9% 1-3 years Exelon Corp. (2) ; 4.0% 3-5…
  13. q2 2015 Earnings Presentation – Navios Maritime Partners Lp – slide 13
    CONFIDENTIAL DO NOT DISTRIBUTE Staggered Charter Expirations (1) Navios Helios 7,790 Sep 2015 Navios La Paix 6TC BSI + 10% (floor 9,500) Dec 2015 Navios Gemini S 7,600 + PS Jan 2016 99.0% revenue days covered in 2015 Navios…
  14. q2 2015 Earnings Presentation – Navios Maritime Partners Lp – slide 14
    CONFIDENTIAL DO NOT DISTRIBUTE Efficient, Low Cost Operator Average Daily Operating Costs / Vessel (including dry-docking) (1) Opex is 20.3% less than the industry average Navios Partners benefits from fixed operational cost…
  15. q2 2015 Earnings Presentation – Navios Maritime Partners Lp – slide 15
    CONFIDENTIAL DO NOT DISTRIBUTE Industry Overview
  16. q2 2015 Earnings Presentation – Navios Maritime Partners Lp – slide 16
    CONFIDENTIAL DO NOT DISTRIBUTE US and EU Growth vs World Container Trade US and Europe account for one third of worlds container imports; consequently world container trade growth highly depends on US and European imports growth…
  17. q2 2015 Earnings Presentation – Navios Maritime Partners Lp – slide 17
    CONFIDENTIAL DO NOT DISTRIBUTE World Container Trade 1996-2016 m TEU growth 200 25% 1996 2014 CAGR = 7.5% 180 20% 160 140 15% 120 10% 100 5.3% 5.1% 6.0% 5% 80 60 0% 40 -5% 20 0 -10% 1996 1997 1998 1999…
  18. q2 2015 Earnings Presentation – Navios Maritime Partners Lp – slide 18
    Container Fleet Supply Fundamentals Deliveries Orderbook by year of delivery: 2015 Jun 0.89 million TEU projected, 0.83 million actual deliveries Actual vessels delivered: 2012 = 209; 2013 = 204; 2014 = 201; 2015 = 98 YTD (7% non…
  19. q2 2015 Earnings Presentation – Navios Maritime Partners Lp – slide 19
    CONFIDENTIAL DO NOT DISTRIBUTE World GDP Growth 8.5 6.5 4.6 4.2 4.7 4.5 % 3.8 2.5 3.4 3.3 1.8 2.1 2.4 0.5 -1.5 -3.5 Emerging and developing economies World economies Advanced economies IMF Latest Revisions of GDP…
  20. q2 2015 Earnings Presentation – Navios Maritime Partners Lp – slide 20
    CONFIDENTIAL DO NOT DISTRIBUTE World Dry Bulk Trade 1980 - 2015 Upside: India 5,000 China admitted 4,500 to the WTO 4,000 5.6% 3,500 Berlin wall falls Trade (Million Tons) 3,000 2,500 2.8% 2,000 1.1% Forecast…
  21. q2 2015 Earnings Presentation – Navios Maritime Partners Lp – slide 21
    CONFIDENTIAL DO NOT DISTRIBUTE Chinese and Indian Coal: Production and Imports Chinese + Indian Seaborne Coal Imports (million tons) 600 2006 2014 CAGR = 25% 500 400 300 200 100 - 2007 2008 2009 2010 2011 2012 2013…
  22. q2 2015 Earnings Presentation – Navios Maritime Partners Lp – slide 22
    CONFIDENTIAL DO NOT DISTRIBUTE Seaborne Coal Trade: India Surpassing China Through April 2015 Indian seaborne coal imports = 83Mt 33% larger than Chinese imports (63Mt) Indias structural need for coal coal provides 74% of Indias…
  23. q2 2015 Earnings Presentation – Navios Maritime Partners Lp – slide 23
    CONFIDENTIAL DO NOT DISTRIBUTE Urbanization Drives Demand for Iron Ore Chinese Iron Ore Imports China YTD Developments 1,200 2007 2014 CAGR = 13% 1,000 Domestic Iron ore Production Stockpiles Price 800 (million tons) 600…
  24. q2 2015 Earnings Presentation – Navios Maritime Partners Lp – slide 24
    CONFIDENTIAL DO NOT DISTRIBUTE Dry Bulk Fleet Supply Fundamentals Deliveries Orderbook by year of delivery 2015 Jun 26.6 million actual DWT delivered; 43.5 million DWT Million DWT Before YTD projected (39% non-delivery by…
  25. q2 2015 Earnings Presentation – Navios Maritime Partners Lp – slide 25
    CONFIDENTIAL DO NOT DISTRIBUTE Company Highlights Entered container sector in December 2013 540.5 million invested in eight container vessels Container Focused MLP 0.8 billion (65.5% of contracted revenues) from container vessels…
  26. q2 2015 Earnings Presentation – Navios Maritime Partners Lp – slide 26
    CONFIDENTIAL DO NOT DISTRIBUTE www.navios-mlp.com
  27. q2 2015 Earnings Presentation – Navios Maritime Partners Lp – slide 27
    CONFIDENTIAL DO NOT DISTRIBUTE Appendix: Navios Partners Fleet
  28. q2 2015 Earnings Presentation – Navios Maritime Partners Lp – slide 28
    CONFIDENTIAL DO NOT DISTRIBUTE Navios Partners Fleet Dry Bulk Owned Vessels Vessels Type Built DWT Charter Rate ()(1) Expiration Date(2) Dropdown Navios Apollon Ultra-Handymax 2000 52,073 12,500 (3) 05/2016 Yes Navios Soleil…
  29. q2 2015 Earnings Presentation – Navios Maritime Partners Lp – slide 29
    CONFIDENTIAL DO NOT DISTRIBUTE Navios Partners Fleet - Containers Container Vessels Vessels Type Built TEU Charter Rate ()(1) Expiration Date(2) Hyundai Hong Kong Container 2006 6,800 30,119 12/2023 (3) Hyundai Singapore…
  30. q2 2015 Earnings Presentation – Navios Maritime Partners Lp – slide 30
    CONFIDENTIAL DO NOT DISTRIBUTE www.navios-mlp.com

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