NAVIOS MARITIME PARTNERS L.P. ANNOUNCES AVAILABILITY OF ITS FORM 20-F FOR THE YEAR ENDED December 31, 2007
PIRAEUS, GREECE, March 28, 2008 - Navios Maritime Partners L.P. ("Navios Partners") (NYSE: "NMM"), an owner and operator of dry-bulk carriers, today announced that its Annual Report on Form 20-F for the year ended December 31, 2007 has been filed with the SEC and can be accessible on the Company's website www.navios-mlp.com under the "Investors" section. Alternatively, shareholders may also request a hard copy of the complete audited financial statements, free of charge, by contacting the Company at:
Navios Maritime Partners LP
85, Akti Miaouli Street
Piraeus 185 38
Tel: +1 212 661 7566
ABOUT NAVIOS MARITIME PARTNERS L.P.
Navios Maritime Partners L.P., an owner and operator of drybulk carriers, was newly formed by Navios Maritime Holdings Inc. (NYSE: NM), a vertically integrated seaborne shipping company with over 50 years of operating history in the drybulk shipping industry.
Navios Partners operates a fleet of eight drybulk carriers comprised of one Capesize and five owned Panamax vessels and two chartered-in Panamax vessels, with a total carrying capacity of 702,600 dwt and with an average age of approximately 5.7 years (based on dwt), which is significantly younger than the current industry average.
Navios Partners expects to take delivery of one newbuilding Capesize in June 2009 and has the option to acquire the capital stock of the subsidiary that will own a newbuilding Capesize vessel scheduled for delivery in October 2009. Navios Partners' vessels are chartered out to a strong group of counterparties under long-term time charters with an average remaining term of approximately 5.2 years.
Navios Partners' units are listed on the New York Stock Exchange and trade under the symbol "NMM". Risks and uncertainties are described in reports filed by Navios Maritime Partners L.P. with the United States Securities and Exchange Commission.
Forward Looking Statements
This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and Navios Partners' growth strategy and measures to implement such strategy; including expected vessel acquisitions and entering into further time charters. Words such as "expects," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations of such words and similar expressions are intended to identify forward-looking statements. Such statements include comments regarding expected revenue and time charters. Although the Navios Partners believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of Navios Partners. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to changes in the demand for dry bulk vessels, competitive factors in the market in which Navios Partners operates; risks associated with operations outside the United States; and other factors listed from time to time in the Navios Partners' filings with the Securities and Exchange Commission. Navios Partners expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Navios Partners' expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
Public & Investor Relations Contact:
Navios Maritime Partners L.P.
Capital Link, Inc.
Tel. (212) 661-7566