Frangou sees opportunities ahead in S&P market

Angeliki Frangou, Chairman and CEO of dry cargo ship specialist Navios Maritime Partners L.P., is  “pleased with our results for the first quarter of 2012. For the quarter, operating surplus increased by about 12 percent and net income by about 2 percent. We recently declared a distribution of $.44 per unit for the quarter, representing an annual distribution of $1.76 and a current yield of 11.2 percent.”

Ms. Frangou continued, “Although the market has been difficult in the past few years, we have been able to increase distributions and believe we will be able to continue increasing distributions by growing our fleet. In addition to drop downs and option exercises we have used in the past, we have vigilantly monitored opportunities in the dry bulk sales and purchase market. Asset values have recently begun to rationalize, and we believe there may be opportunities for Navios Partners in the current sales and purchase market.”

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April 26, 2011