For the quarter ended March 31st, 2012, we estimate that Navios Maritime Partners L.P. (NYSE: NMM) generated net income of $17,000,000. We estimate that earnings attributable to common unit holders were $16,620,000 or $0.30 per common unit. We also estimate that Time Charter & Voyage Revenues for the quarter were $48,700,000 and the average TCE rate was $30,600.
Navios Maritime Partners operates a fleet of 18 vessels with an aggregate DWT capacity of 1,945,000 MT and an average age of 7.42 years as of March 31st, 2012. NMM owns sixteen of the 18 vessels in the fleet and operates the remaining two on long-term operating leases with purchase options. We forecast that NMM will declare a quarterly cash distribution of $0.44 per common unit for the quarter, 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 7.42 years as of March 31st, 2012. NMM owns sixteen of the 18 vessels in the fleet and operates the remaining two on long-term operating leases with purchase options. We forecast that NMM will declare a quarterly cash distribution of $0.44 per common unit for the quarter, unchanged from the previous quarter.
