Cash and Cash Equivalents

12 Months Ended

Dec. 31, 2013

CASH AND CASH EQUIVALENTS [Abstract]

Cash and cash equivalents

NOTE 3 - CASH AND CASH EQUIVALENTS

            Cash and cash equivalents consist of the following:

	December 31, 2013		December 31, 2012
Cash on hand and at banks	$	35,079	$	18,180
Short term deposits and highly liquid funds		267		13,952
Total cash and cash equivalents	$	35,346	$	32,132

Short term deposits and highly liquid funds relate to amounts held in banks for general financing purposes. As of December 31, 2013, Navios Partners held time deposits of $0 and money market funds of $267 with duration of less than three months. As of December 31, 2012, Navios Partners held time deposits of $13,129 and money market funds of $823 with duration of less than three months.

Cash deposits and cash equivalents in excess of amounts covered by government-provided insurance are exposed to loss in the event of non-performance by financial institutions. Navios Partners does maintain cash deposits and equivalents in excess of government-provided insurance limits. Navios Partners also minimizes exposure to credit risk by dealing with a diversified group of major financial institutions.

Restricted cash, as of December 31, 2013 and December 31, 2012, included an amount held as security in the form of a letter of guarantee related to an owned vessel in the amount of $831 and $829, respectively. In addition, at each of December 31, 2013 and December 31, 2012, restricted cash included $346 and $28,700, respectively, which related to amounts held in retention accounts as required by certain of Navios Partners' credit facilities. As of December 31, 2013 and December 31, 2012 the short-term restricted cash held in retention accounts was $1,177 and $29,529, respectively. Long-term restricted cash as of December 31, 2013 and December 31, 2012, was $33,429 and $0, respectively which related to amounts held in escrow, to partially finance a portion of the purchase price of vessels to be delivered in 2014.