Fair Value of Financial Instruments (Tables)
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6 Months Ended |
Jun. 30, 2025 |
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| Fair Value Disclosures [Abstract] |
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| Fair Value of Financial Instruments |
The estimated fair values of the Navios Partners’ financial instruments are as follows:
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June 30, 2025 |
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December 31, 2024 |
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Book
Value |
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Fair
Value |
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Book
Value |
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Fair
Value |
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Cash and cash equivalents |
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$ |
377,034 |
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$ |
377,034 |
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$ |
270,166 |
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$ |
270,166 |
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Restricted cash |
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$ |
589 |
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$ |
589 |
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$ |
29,623 |
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$ |
29,623 |
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Other investments |
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$ |
11,386 |
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$ |
11,386 |
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$ |
12,289 |
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$ |
12,289 |
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Amounts due from related parties, short-term |
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$ |
1,662 |
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$ |
1,662 |
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$ |
36,620 |
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$ |
36,620 |
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Amounts due to related parties, short-term |
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$ |
(39,536 |
) |
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$ |
(39,536 |
) |
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$ |
— |
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$ |
— |
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Credit facilities and financial liabilities, including current portion, net (including current liabilities associated with the vessel held for sale) |
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$ |
(1,909,544 |
) |
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$ |
(1,935,300 |
) |
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$ |
(1,803,153 |
) |
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$ |
(1,827,384 |
) |
Fair value of derivatives, including current portion |
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$ |
(2,314 |
) |
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$ |
(2,314 |
) |
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$ |
— |
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$ |
— |
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| Fair Value Measurements - Fair Value Measurements on a Nonrecurring Basis |
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Fair Value Measurements as at June 30, 2025 |
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Total |
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Level I |
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Level II |
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Level III |
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Cash and cash equivalents |
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$ |
377,034 |
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$ |
377,034 |
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$ |
— |
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$ |
— |
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Restricted cash |
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$ |
589 |
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$ |
589 |
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$ |
— |
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$ |
— |
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Other investments |
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$ |
11,386 |
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$ |
11,386 |
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$ |
— |
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$ |
— |
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Amounts due from related parties, short-term |
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$ |
1,662 |
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$ |
— |
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$ |
1,662 |
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$ |
— |
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Amounts due to related parties, short-term |
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$ |
(39,536 |
) |
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$ |
— |
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$ |
(39,536 |
) |
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$ |
— |
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Credit facilities and financial liabilities, including current portion, net (including current liabilities associated with the vessel held for sale) (1) |
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$ |
(1,935,300 |
) |
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$ |
— |
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$ |
(1,935,300 |
) |
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$ |
— |
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Fair Value Measurements as at December 31, 2024 |
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Total |
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Level I |
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Level II |
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Level III |
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Cash and cash equivalents |
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$ |
270,166 |
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$ |
270,166 |
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$ |
— |
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$ |
— |
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Restricted cash |
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$ |
29,623 |
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$ |
29,623 |
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$ |
— |
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$ |
— |
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Other investments |
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$ |
12,289 |
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$ |
12,289 |
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$ |
— |
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|
$ |
— |
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Amounts due from related parties, short-term |
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$ |
36,620 |
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$ |
— |
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$ |
36,620 |
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$ |
— |
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Credit facilities and financial liabilities, including current portion, net (1) |
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$ |
(1,827,384 |
) |
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$ |
— |
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$ |
(1,827,384 |
) |
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$ |
— |
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(1)The fair value of the Company’s credit facilities, financial liabilities and current liabilities associated with the vessel held for sale is estimated based on currently available credit facilities, financial liabilities and current liabilities associated with the vessel held for sale with similar contract terms, interest rate and remaining maturities as well as taking into account the Company’s creditworthiness.
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| Fair Value Measurements - Fair Value of Vessel Measured at Fair Value on a Non-recurring Basis |
As of June 30, 2025, the estimated fair value of the Company’s vessel measured at fair value on a non-recurring basis, is based on a third party valuation report and is categorized based upon the fair value hierarchy as follows:
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Fair Value Measurements as at June 30, 2025 |
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Total |
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Level I |
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Level II |
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Level III |
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Vessel held for sale |
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$ |
30,000 |
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$ |
— |
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$ |
30,000 |
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$ |
— |
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Fair Value Measurements as at December 31, 2024 |
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Total |
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Level I |
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Level II |
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Level III |
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Vessels, net |
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$ |
21,250 |
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$ |
— |
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$ |
21,250 |
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$ |
— |
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| Fair Value Measurements - Summary of Terms of Swap Transaction and Respective Fair Value Amount |
The following table presents the terms of the Swap Transaction and the respective fair value amount as of June 30, 2025: Derivative liabilities:
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Effective date |
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Termination date |
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Notional amount
on effective date |
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Fixed rate |
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Fair value
as at June 30, 2025
(Level II) |
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27/1/2025 |
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26/03/2029 |
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$ |
87,860 |
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4.12 |
% |
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$ |
(2,314 |
) |
Total fair value of derivatives, including current portion |
$ |
(2,314 |
) |
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| Fair Value Measurements - Summary of Amount Recognized in Other Comprehensive Loss |
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Amount recognized in
other comprehensive loss |
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Three Month Period Ended June 30, 2025 |
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Three Month Period Ended June 30, 2024 |
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Six Month Period Ended June 30, 2025 |
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Six Month Period Ended June 30, 2024 |
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Unrealized loss on cash flow hedges |
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$ |
(543 |
) |
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$ |
— |
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$ |
(2,314 |
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$ |
— |
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Total other comprehensive loss |
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$ |
(543 |
) |
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$ |
— |
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$ |
(2,314 |
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$ |
— |
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