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Fourth Quarter 2014 Earnings Presentation – Navios Maritime Partners Lp

Navios Maritime Partners Lp · Feb 2, 2015 · 28 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Fourth Quarter 2014 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) 18.0% Limited Partner Interest 80.0%…
  2. Fourth Quarter 2014 Earnings Presentation – Navios Maritime Partners Lp – slide 2
    CONFIDENTIAL DO NOT DISTRIBUTE Company Highlights Entered container market in December 2013 540.5 million acquisition of 8 container vessels Container Focused MLP 0.9 billion or 67.7% of contracted revenues on container vessels;…
  3. Fourth Quarter 2014 Earnings Presentation – Navios Maritime Partners Lp – slide 3
    CONFIDENTIAL DO NOT DISTRIBUTE Focus on Container Sector Entered container sector in December 2013 Diversified risk / revenue from drybulk vessels Solidified cash flow generation; Long term charters extend remaining average…
  4. Fourth Quarter 2014 Earnings Presentation – Navios Maritime Partners Lp – slide 4
    CONFIDENTIAL DO NOT DISTRIBUTE Container Vessel Acquisition 147.75 million acquisition of one 13,100 TEU container vessel with 12 years employment Vessels details: 2011-built in South Korea Capacity of 13,100 TEU Expected…
  5. Fourth Quarter 2014 Earnings Presentation – Navios Maritime Partners Lp – slide 5
    CONFIDENTIAL DO NOT DISTRIBUTE Track Record of Growth and Distribution Security Consistent distribution payer; Prudent and conservative distribution policy 629.5 million distributions paid since inception 26.4% increase in annual…
  6. Fourth Quarter 2014 Earnings Presentation – Navios Maritime Partners Lp – slide 6
    CONFIDENTIAL DO NOT DISTRIBUTE Liquidity December 31, 2014 (US million) Debt Maturity Cash(1) 100.4 450 400 Debt 583.3 350 (US million) 300 250 Partners' Capital 749.1 200 418.0 150 Capitalization 1,332.4 100 50 -…
  7. Fourth Quarter 2014 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. Fourth Quarter 2014 Earnings Presentation – Navios Maritime Partners Lp – slide 8
    CONFIDENTIAL DO NOT DISTRIBUTE Q4 & Year Ended December 31, 2014 Earnings Highlights Earnings Highlights (in US million) except active vessels and available days P-O-P FY Ended FY Ended Y-O-Y Q4 2014 Q4 2013 Variance December 31,…
  9. Fourth Quarter 2014 Earnings Presentation – Navios Maritime Partners Lp – slide 9
    CONFIDENTIAL DO NOT DISTRIBUTE Balance Sheet Selected Balance Sheet Data (US million) December 31, 2014 December 31, 2013 Cash & cash equivalents (1) 100.4 70.0 Other current assets 14.7 18.0 Vessels, net 1,139.4 1,026.2…
  10. Fourth Quarter 2014 Earnings Presentation – Navios Maritime Partners Lp – slide 10
    CONFIDENTIAL DO NOT DISTRIBUTE Q4 2014 Cash Distribution Cash Distribution of 0.4425 per unit for Q4 2014 (1.77 annualized) Record Date: February 11, 2015 Payment Date: February 13, 2015 Operating Surplus: 26.4 million Common Unit…
  11. Fourth Quarter 2014 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): 7.6 years 23 Dry Bulk Vessels 8 Container Vessels 2.5 million dwt 63,508 TEU 8 Capesize 12 Panamax 3…
  12. Fourth Quarter 2014 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. 3.4 years 1-3 years Bunge; 3.1% Exelon Corp. (2) ; 4.3% 3-5…
  13. Fourth Quarter 2014 Earnings Presentation – Navios Maritime Partners Lp – slide 13
    CONFIDENTIAL DO NOT DISTRIBUTE Staggered Charter Expirations (1) Navios Fantastiks 20,425 Mar 2015 Navios Hyperion 4TC BPI Apr 2015 Navios Soleil 10,688 May 2015 Navios Felicity 80.1% revenue days covered in 2015 12,000 May…
  14. Fourth Quarter 2014 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. Fourth Quarter 2014 Earnings Presentation – Navios Maritime Partners Lp – slide 15
    CONFIDENTIAL DO NOT DISTRIBUTE Industry Section
  16. Fourth Quarter 2014 Earnings Presentation – Navios Maritime Partners Lp – slide 16
    US Personal Consumption vs Container Trade Growth 15% 10% 5% % Growth 0% 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 (e) -5% -10% Correlation: 88.6% -15% Container Trade Growth US Personal Consumption…
  17. Fourth Quarter 2014 Earnings Presentation – Navios Maritime Partners Lp – slide 17
    World Container Trade 1996-2016 m TEU growth 200 25% 1996 2014 CAGR = 7.5% 180 20% 160 140 15% 120 10% 6.8% 100 6.0% 6.7% 5% 80 60 0% 40 -5% 20 0 -10% 1996 1997 1998 1999 2000 2001 2002 2003 2004…
  18. Fourth Quarter 2014 Earnings Presentation – Navios Maritime Partners Lp – slide 18
    Container Fleet Supply Fundamentals Deliveries Orderbook by year of delivery: 1.6 million TEU projected, 1.5 million actual deliveries Actual vessels delivered: 2012 = 203; 2013 = 201; 2014 = 201 2014 (9% non deliveries by TEU); 201…
  19. Fourth Quarter 2014 Earnings Presentation – Navios Maritime Partners Lp – slide 19
    CONFIDENTIAL DO NOT DISTRIBUTE World GDP Growth 8.5 6.5 4.4 4.3 4.7 4.5 % 3.7 3.3 3.5 2.5 2.4 2.4 0.5 1.8 -1.5 -3.5 Emerging and developing economies World Advanced economies IMF Latest Revisions of GDP Growth (%)…
  20. Fourth Quarter 2014 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 5.5% 3,500 Berlin wall falls Trade (Million Tons) 3,000 2,500 2.8% 2,000 1.1%…
  21. Fourth Quarter 2014 Earnings Presentation – Navios Maritime Partners Lp – slide 21
    CONFIDENTIAL DO NOT DISTRIBUTE Urbanization Drives Demand for Commodities World Urbanization 8 80% Billions 7 6 60% 5 4 40% 3 2 20% 1 0 0% 1990 1995 2000 2005 2010 2015 2020 2025 2030 2035 2040 2045 2050 North…
  22. Fourth Quarter 2014 Earnings Presentation – Navios Maritime Partners Lp – slide 22
    Dry Bulk Fleet Supply Fundamentals Deliveries Orderbook by year of delivery 48.1 million actual DWT delivered; 75.1 million DWT Million DWT Before 2014 100 non-delivery projected (36% non-delivery by DWT-preliminary) Actual 85.1…
  23. Fourth Quarter 2014 Earnings Presentation – Navios Maritime Partners Lp – slide 23
    CONFIDENTIAL DO NOT DISTRIBUTE Company Highlights Entered container market in December 2013 540.5 million acquisition of 8 container vessels Container Focused MLP 0.9 billion or 67.7% of contracted revenues on container vessels;…
  24. Fourth Quarter 2014 Earnings Presentation – Navios Maritime Partners Lp – slide 24
    CONFIDENTIAL DO NOT DISTRIBUTE www.navios-mlp.com
  25. Fourth Quarter 2014 Earnings Presentation – Navios Maritime Partners Lp – slide 25
    CONFIDENTIAL DO NOT DISTRIBUTE Appendix: Navios Partners Fleet
  26. Fourth Quarter 2014 Earnings Presentation – Navios Maritime Partners Lp – slide 26
    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) 09/2015 Yes Navios Soleil…
  27. Fourth Quarter 2014 Earnings Presentation – Navios Maritime Partners Lp – slide 27
    CONFIDENTIAL DO NOT DISTRIBUTE Navios Partners Fleet - Containers Container Vessels Vessels Type Built TEU Charter Rate ()(1) Expiration Date(2) (3) Hyundai Hong Kong Container 2006 6,800 30,119 12/2023 Hyundai Singapore…
  28. Fourth Quarter 2014 Earnings Presentation – Navios Maritime Partners Lp – slide 28
    CONFIDENTIAL DO NOT DISTRIBUTE www.navios-mlp.com

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