2.4.0.810200 - Disclosure - BASIS OF PRESENTATIONtruefalsefalse1falsefalsefalseFYp0YTDhttp://www.sec.gov/CIK0001415921duration2013-01-01T00:00:002013-06-30T00:00:001true1us-gaap_AccountingPoliciesAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse02false2us-gaap_SignificantAccountingPoliciesTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalseterseLabel1falsefalsefalse00<div><font style="font-face: Times New Roman" size="2" color="#000000"><b>NOTE 2 - BASIS OF PRESENTATION</b></font></div>
<div><font style="font-face: Times New Roman" size="2" color="#000000"><b></b> </font></div>
<div><font style="font-face: Times New Roman" size="2" color="#000000"> The accompanying interim consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (US GAAP).</font></div>
<div><font style="font-face: Times New Roman" size="2" color="#000000"><b>The accompanying consolidated financial statements include the following entities and chartered-in vessels:</b></font></div>
<div><font style="font-face: Times New Roman" size="2" color="#000000"><b></b></font> </div>
<div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div>
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<td width="103"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
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<td width="67"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="9"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="8"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="7"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="9"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="8"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td colspan="4" width="4"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
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<td width="322" height="8"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="6"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="103"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Vessel name</b></font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="67"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Country of</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b> incorporation</b></font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td colspan="6" width="215"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Statement of Income</b></font></div></td>
<td colspan="4" width="12"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
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<td width="322" height="10"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Company name</b></font></div></td>
<td width="6"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="103"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="67"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td colspan="2" width="100"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>2013</b></font></div></td>
<td width="8"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="7"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td colspan="2" width="100"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>2012</b></font></div></td>
<td colspan="3" width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
</tr>
<tr>
<td width="322" height="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Libra Shipping Enterprises Corporation</font></div></td>
<td width="6" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="103" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Navios Libra II</font></div></td>
<td width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="67" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Marshall Is.</font></div></td>
<td width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8" bgcolor="#cceeff"><div align="center"> </div></td>
<td width="7" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td colspan="3" width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
</tr>
<tr>
<td width="322" height="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">Alegria Shipping Corporation</font></div></td>
<td width="6"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="103"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Navios Alegria</font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="67"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Marshall Is.</font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8"><div align="center"> </div></td>
<td width="7"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td colspan="3" width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
</tr>
<tr>
<td width="322" height="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Felicity Shipping Corporation</font></div></td>
<td width="6" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="103" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Navios Felicity</font></div></td>
<td width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="67" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Marshall Is.</font></div></td>
<td width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8" bgcolor="#cceeff"><div align="center"> </div></td>
<td width="7" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td colspan="3" width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
</tr>
<tr>
<td width="322" height="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">Gemini Shipping Corporation</font></div></td>
<td width="6"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="103"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Navios Gemini S</font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="67"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Marshall Is.</font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8"><div align="center"> </div></td>
<td width="7"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td colspan="3" width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
</tr>
<tr>
<td width="322" height="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Galaxy Shipping Corporation</font></div></td>
<td width="6" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="103" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Navios Galaxy I</font></div></td>
<td width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="67" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Marshall Is.</font></div></td>
<td width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8" bgcolor="#cceeff"><div align="center"> </div></td>
<td width="7" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td colspan="3" width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
</tr>
<tr>
<td width="322" height="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">Aurora Shipping Enterprises Ltd.</font></div></td>
<td width="6"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="103"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Navios Hope</font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="67"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Marshall Is.</font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8"><div align="center"> </div></td>
<td width="7"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td colspan="3" width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
</tr>
<tr>
<td width="322" height="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Palermo Shipping S.A.</font></div></td>
<td width="6" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="103" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Navios Apollon</font></div></td>
<td width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="67" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Marshall Is.</font></div></td>
<td width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8" bgcolor="#cceeff"><div align="center"> </div></td>
<td width="7" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td colspan="3" width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
</tr>
<tr>
<td width="322" height="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">Fantastiks Shipping Corporation</font></div></td>
<td width="6"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="103"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Navios Fantastiks</font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="67"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Marshall Is.</font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8"><div align="center"> </div></td>
<td width="7"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td colspan="3" width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
</tr>
<tr>
<td width="322" height="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Sagittarius Shipping Corporation</font></div></td>
<td width="6" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="103" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Navios Sagittarius</font></div></td>
<td width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="67" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Marshall Is.</font></div></td>
<td width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8" bgcolor="#cceeff"><div align="center"> </div></td>
<td width="7" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td colspan="3" width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
</tr>
<tr>
<td width="322" height="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">Hyperion Enterprises Inc.</font></div></td>
<td width="6"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="103"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Navios Hyperion</font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="67"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Marshall Is.</font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8"><div align="center"> </div></td>
<td width="7"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td colspan="3" width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
</tr>
<tr>
<td width="322" height="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Chilali Corp.</font></div></td>
<td width="6" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="103" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Navios Aurora II</font></div></td>
<td width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="67" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Marshall Is.</font></div></td>
<td width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8" bgcolor="#cceeff"><div align="center"> </div></td>
<td width="7" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td colspan="3" width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
</tr>
<tr>
<td width="322" height="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">Surf Maritime Co.</font></div></td>
<td width="6"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="103"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Navios Pollux</font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="67"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Marshall Is.</font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8"><div align="center"> </div></td>
<td width="7"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td colspan="3" width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
</tr>
<tr>
<td width="322" height="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Pandora Marine Inc.</font></div></td>
<td width="6" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="103" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Navios Melodia</font></div></td>
<td width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="67" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Marshall Is.</font></div></td>
<td width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8" bgcolor="#cceeff"><div align="center"> </div></td>
<td width="7" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td colspan="3" width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
</tr>
<tr>
<td width="322" height="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">Customized Development S.A.</font></div></td>
<td width="6"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="103"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Navios Fulvia</font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="67"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Liberia</font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8"><div align="center"> </div></td>
<td width="7"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td colspan="3" width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
</tr>
<tr>
<td width="322" height="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Kohylia Shipmanagement S.A.</font></div></td>
<td width="6" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="103" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Navios Luz</font></div></td>
<td width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="67" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Marshall Is.</font></div></td>
<td width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8" bgcolor="#cceeff"><div align="center"> </div></td>
<td width="7" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td colspan="3" width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
</tr>
<tr>
<td width="322" height="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">Orbiter Shipping Corp.</font></div></td>
<td width="6"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="103"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Navios Orbiter</font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="67"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Marshall Is.</font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8"><div align="center"> </div></td>
<td width="7"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td colspan="3" width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
</tr>
<tr>
<td width="322" height="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Floral Marine Ltd.</font></div></td>
<td width="6" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="103" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Navios Buena Ventura</font></div></td>
<td width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="67" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Marshall Is.</font></div></td>
<td width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8" bgcolor="#cceeff"><div align="center"> </div></td>
<td width="7" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">    6/15 - 06/30</font></div></td>
<td width="8" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td colspan="3" width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
</tr>
<tr>
<td width="322" height="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">Golem Navigation Limited</font></div></td>
<td width="6"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="103"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Navios Soleil</font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="67"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Marshall Is.</font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8"><div align="center"> </div></td>
<td width="7"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">-</font></div></td>
<td width="8"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td colspan="3" width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
</tr>
<tr>
<td width="322" height="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Kymata Shipping Co.</font></div></td>
<td width="6" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="103" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Navios Helios</font></div></td>
<td width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="67" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Marshall Is.</font></div></td>
<td width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8" bgcolor="#cceeff"><div align="center"> </div></td>
<td width="7" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">-</font></div></td>
<td width="8" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td colspan="3" width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
</tr>
<tr>
<td width="322" height="15" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Micaela Shipping Corporation</font></div></td>
<td width="6" bgcolor="#cceeff"><div align="center"> </div></td>
<td width="103" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Navios Harmony</font></div></td>
<td width="1" bgcolor="#cceeff"><div align="center"> </div></td>
<td width="67" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Marshall Is.</font></div></td>
<td width="1" bgcolor="#cceeff"><div align="center"> </div></td>
<td width="9" bgcolor="#cceeff"><div align="center"> </div></td>
<td width="90" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">-</font></div></td>
<td width="8" bgcolor="#cceeff"><div align="center"> </div></td>
<td width="7" bgcolor="#cceeff"><div align="center"> </div></td>
<td width="9" bgcolor="#cceeff"><div align="center"> </div></td>
<td width="90" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">-</font></div></td>
<td width="8" bgcolor="#cceeff"><div> </div></td>
<td width="1" bgcolor="#cceeff"><div> </div></td>
<td colspan="3" width="1" bgcolor="#cceeff"><div> </div></td>
</tr>
<tr>
<td width="322" height="19" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Pearl Shipping Corporation</font></div></td>
<td width="6" bgcolor="#cceeff"><div> </div></td>
<td width="103" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Navios Sun</font></div></td>
<td width="1" bgcolor="#cceeff"><div> </div></td>
<td width="67" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Marshall Is.</font></div></td>
<td width="1" bgcolor="#cceeff"><div> </div></td>
<td width="9" bgcolor="#cceeff"><div> </div></td>
<td width="90" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">-</font></div></td>
<td width="8" bgcolor="#cceeff"><div align="center"> </div></td>
<td width="7" bgcolor="#cceeff"><div> </div></td>
<td width="9" bgcolor="#cceeff"><div> </div></td>
<td width="90" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">-</font></div></td>
<td width="8" bgcolor="#cceeff"><div> </div></td>
<td width="1" bgcolor="#cceeff"><div> </div></td>
<td colspan="3" width="1" bgcolor="#cceeff"><div> </div></td>
</tr>
<tr>
<td width="322" height="10"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Chartered-in vessels</b></font></div></td>
<td width="6"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="103"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="67"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90"><div align="center"> </div></td>
<td width="8"><div align="center"> </div></td>
<td width="7"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90"><div align="center"> </div></td>
<td width="8"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td colspan="3" width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
</tr>
<tr>
<td width="322" height="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Prosperity Shipping Corporation</font></div></td>
<td width="6" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="103" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Navios Prosperity</font></div></td>
<td width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="67" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Marshall Is.</font></div></td>
<td width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8" bgcolor="#cceeff"><div align="center"> </div></td>
<td width="7" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td colspan="3" width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
</tr>
<tr>
<td width="322" height="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">Aldebaran Shipping Corporation</font></div></td>
<td width="6"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="103"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Navios Aldebaran</font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="67"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Marshall Is.</font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8"><div align="center"> </div></td>
<td width="7"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td colspan="3" width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
</tr>
<tr>
<td width="322" height="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Other</b></font></div></td>
<td width="6" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="103" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="67" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90" bgcolor="#cceeff"><div align="center"> </div></td>
<td width="8" bgcolor="#cceeff"><div align="center"> </div></td>
<td width="7" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90" bgcolor="#cceeff"><div align="center"> </div></td>
<td width="8" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td colspan="3" width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
</tr>
<tr>
<td width="322" height="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">JTC Shipping and Trading Ltd (*)</font></div></td>
<td width="6"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="103"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Holding Company</font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="67"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Malta</font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8"><div align="center"> </div></td>
<td width="7"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td colspan="3" width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
</tr>
<tr>
<td width="322" height="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Navios Maritime Partners L.P.</font></div></td>
<td width="6" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="103" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">N/A</font></div></td>
<td width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="67" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Marshall Is.</font></div></td>
<td width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8" bgcolor="#cceeff"><div align="center"> </div></td>
<td width="7" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td colspan="3" width="1" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
</tr>
<tr>
<td width="322" height="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">Navios Maritime Operating LLC</font></div></td>
<td width="6"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="103"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">N/A</font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="67"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Marshall Is.</font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8"><div align="center"> </div></td>
<td width="7"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="9"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td width="90"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1/01 - 06/30</font></div></td>
<td width="8"><div><font style="font-face: Times New Roman" size="2" color="#000000">  </font></div></td>
<td width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
<td colspan="3" width="1"><div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div></td>
</tr>
<tr>
<td width="322" height="10" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Navios Partners Finance (US) Inc.</font></div></td>
<td width="6" bgcolor="#ccecff"><div> </div></td>
<td width="103" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Co-Borrower</font></div></td>
<td width="1" bgcolor="#ccecff"><div> </div></td>
<td width="67" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Delaware</font></div></td>
<td width="1" bgcolor="#ccecff"><div> </div></td>
<td width="9" bgcolor="#ccecff"><div> </div></td>
<td width="90" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">      6/19 - 06/30</font></div></td>
<td width="8" bgcolor="#ccecff"><div align="center"> </div></td>
<td width="7" bgcolor="#ccecff"><div> </div></td>
<td width="9" bgcolor="#ccecff"><div> </div></td>
<td width="90" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">-</font></div></td>
<td width="8" bgcolor="#ccecff"><div> </div></td>
<td width="1" bgcolor="#ccecff"><div> </div></td>
<td colspan="3" width="1" bgcolor="#ccecff"><div> </div></td>
</tr>
<tr>
<td width="322"></td>
<td width="6"></td>
<td width="103"></td>
<td width="1"></td>
<td width="67"></td>
<td width="1"></td>
<td width="9"></td>
<td width="90"></td>
<td width="8"></td>
<td width="7"></td>
<td width="9"></td>
<td width="90"></td>
<td width="8"></td>
<td width="1"></td>
<td width="1"></td>
<td width="1"></td>
<td width="1"></td>
</tr>
</table>
<div><font style="font-face: Times New Roman" size="2" color="#000000"> </font></div>
<div><font style="font-face: Times New Roman" size="2" color="#000000"></font></div>
<table border="0" cellspacing="0" cellpadding="0">
<tr>
<td width="29" height="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">(*)</font></div></td>
<td width="575"><div><font style="font-face: Times New Roman" size="2" color="#000000">Not a vessel-owning subsidiary and only holds right to a charter-in contract.</font></div></td>
</tr>
</table>
<div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b> </b></i></font></div>
<div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>(a) Use of Estimates:</b></i> The preparation of consolidated financial statements in conformity with the accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. On an on-going basis, management evaluates the estimates and judgments, including those related to future drydock dates, the selection of useful lives for tangible assets, expected future cash flows from long-lived assets to support impairment tests, provisions necessary for accounts receivables, provisions for legal disputes, and contingencies. Management bases its estimates and judgments on historical experience and on various other factors that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates under different assumptions and/or conditions.</font></div>
<div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>(b) Vessels, net:</b></i> Vessels are stated at historical cost, which consists of the contract price and any material expenses incurred upon acquisition (improvements and delivery expenses). Vessels acquired in an asset acquisition or in a business combination are recorded at fair value. Subsequent expenditures for major improvements and upgrading are capitalized, provided they appreciably extend the life, increase the earning capacity or improve the efficiency or safety of the vessels. Expenditures for routine maintenance and repairs are expensed as incurred.</font></div>
<div><font style="font-face: Times New Roman" size="2" color="#000000">     </font></div>
<div><font style="font-face: Times New Roman" size="2" color="#000000">  Depreciation is computed using the straight line method over the useful life of the vessels, after considering the estimated residual value. Management estimates the residual values of our dry bulk vessels based on a scrap value cost of steel times the weight of the ship noted in lightweight ton (LWT). Residual values are periodically reviewed and revised to recognize changes in conditions, new regulations or other reasons. Revisions of residual values affect the depreciable amount of the vessels and affects depreciation expense in the period of the revision and future periods. Prior to December 31, 2012, management estimated the residual values of its vessels based on a scrap rate of $285 per LWT. Effective January 1, 2013, following management's reassessment after considering current market trends for scrap rates and ten-year average historical scrap rates of the residual values of the Company's vessels, the estimated scrap value per LWT was increased to $340. This change in accounting estimate of scrap value did not materially affect the statement of income and the earnings per unit of the Company in the three and six month period ended June 30, 2013.</font></div>
<div><font style="font-face: Times New Roman" size="2" color="#000000">         Management estimates the useful life of our vessels to be 25 years from the vessel's original construction. However, when regulations place limitations over the ability of a vessel to trade on a worldwide basis, its useful life is re-estimated to end at the date such regulations become effective.</font></div>
<div><font style="font-face: Times New Roman" size="2" color="#000000">The accompanying interim condensed consolidated financial statements of Navios Partners are unaudited, but, in the opinion of management, contain all adjustments necessary to present a fair statement of results, in all material respects, Navios Partners' condensed consolidated financial position as of June 30, 2013 and December 31, 2012 and the condensed consolidated results of operations for the three and six months ended June 30, 2013 and 2012. The footnotes are condensed as permitted by the requirements for interim financial statements and, accordingly, do not include information and disclosures required under US GAAP for complete financial statements. All such adjustments are deemed to be of a normal, recurring nature. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the full year. These financial statements should be read in conjunction with the audited consolidated financial statements and related notes included in Navios Partners' Annual Report on Form 20-F for the year ended December 31, 2012.</font></div>falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for all significant accounting policies of the reporting entity.Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18780-107790
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 22
-Paragraph 8
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18861-107790
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18743-107790
Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18854-107790
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