We are a publicly headed master limited partnership which owns and operates dry cargo vessels. Our vessels are chartered out under long-term time charters with an average remaining term of approximately 4.0 years to a strong group of counterparties including Mitsui O.S.K. Lines, Cosco, Ltd., Rio Tinto Shipping Pty Ltd. and STX Pan Ocean. Currently, Navios Maritime Holdings owns a 27.1% interest in us, including a 2.0% interest through our general partner which Navios Maritime Holdings owns and controls.

Our fleet consists of eleven modern, Panamax vessels, six modern Capesize vessel and one modern Ultra-Handymax vessel. Panamax vessels are highly flexible vessels capable of carrying a wide range of drybulk commodities, including iron ore, coal, grain and fertilizer and of being accommodated in most major discharge ports, while Capesize vessels are primarily dedicated to the carriage of iron ore and coal. We may from time to time purchase additional vessels, including vessels from Navios Holdings.