Navios Maritime Partners is an international owner and operator of a diversified fleet of 170 vessels across three segments: dry bulk (66 vessels), containerships (51 vessels), and tankers (53 vessels). The dry bulk fleet carries iron ore, coal, grain, and fertilizer on long-haul routes; the containership fleet serves as a tonnage provider to liner companies like Maersk, ZIM, and COSCO; and the tanker fleet transports crude oil and refined petroleum products on routes ranging from short-haul product trades to long-haul VLCC voyages. Navios charters its vessels under time charters, where customers pay a daily hire rate and bear voyage costs, while Navios covers vessel operating costs. Revenue is driven by available vessel days, daily charter rates, and fleet utilization. Navios pursues a mix of long-term, spot, and index-linked charters, with a preference for locking in long-term charters during market peaks. As of early 2026, the company had $3.75B in contracted revenue backlog, weighted heavily toward containerships. Navios regularly sells older vessels and reinvests in newbuildings — it has a 26-vessel newbuilding program through early 2029 representing ~$1.9B of investment. The fleet averages 9.6 years of age versus an industry average of ~13.5 years. The company outsources commercial and technical management to an external Greece-based manager under a long-term agreement. Navios is structured as a partnership and listed in the U.S.