For the quarter ended December 31st, 2011, we estimate that Navios Maritime Partners L.P. (NYSE: NMM) generated net income of $18,400,000. We estimate that the earnings attributable to common unit holders were $16,410,000 or $0.35 earnings per common unit. We also estimate that TCE Revenues for the quarter were $49,800,000 and the average TCE rate was $30,450.
Navios Maritime Partners operates a fleet of 18 vessels with an aggregate DWT capacity of 1,945,000 MT and an average age of 7.17 years as of December 31st, 2011. NMM owns sixteen of the 18 vessels in the fleet and operates the remaining two on long-term operating leases with purchase options. On January 24th, 2011, NMM declared a quarterly cash distribution of $0.44 per unit, unchanged from the previous quarter.
Navios Maritime Partners operates a fleet of 18 vessels with an aggregate DWT capacity of 1,945,000 MT and an average age of 7.17 years as of December 31st, 2011. NMM owns sixteen of the 18 vessels in the fleet and operates the remaining two on long-term operating leases with purchase options. On January 24th, 2011, NMM declared a quarterly cash distribution of $0.44 per unit, unchanged from the previous quarter.
