Deutsche Bank's Takeaways on Navios from DB Industrials & Basic Materials Conference
Deutsche Bank is providing a few takeaways on Navios Maritime Partners L.P. (NYSE: NMM).
“Yesterday, Michael McClure, SVP of Corporate Affairs, and Fred Gordon, VP of Corporate Affairs, presented at DB's Global Industrial and Basic Materials Conference in Chicago,” Deutsche Bank writes.
“NMM has only one charter expiry in 2012 and staggered charter expiries thereafter. The fleet has an average charter length of 4.5 years with 70% of the fleet's contracts expiring over three years from now. The company maintains total unit distribution coverage of 1.2x, which provides a cushion for any intermediate-term re-chartering at levels below current rates.”
Navios Maritime Partners closed Tuesday a $17.85.
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