Report of Foreign Issuer (6-k)

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13A-16 OR 15D-16

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report: September 11, 2019

Commission File Number: 001-33811

 

 

NAVIOS MARITIME PARTNERS L.P.

 

 

7 Avenue de Grande Bretagne, Office 11B2

Monte Carlo, MC 98000 Monaco

(Address of Principal Executive Offices)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F  ☒            Form 40-F  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Yes  ☐            No  ☒

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

Yes  ☐            No  ☒

 

 

 

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This Report on Form 6-K is hereby incorporated by reference into the Navios Maritime Partners L.P. Registration Statement on Form F-3, File No. 333-215529.

On August 28, 2019, Navios Maritime Partners L.P. (“Navios Partners”) entered into a ninth amendment (the “Ninth Amendment”) to the Management Agreement (as amended, the “Management Agreement”) with Navios ShipManagement Inc. The Ninth Amendment, among other changes, extends the duration of the Management Agreement until January 1, 2025, with an automatic renewal for an additional five years, unless earlier terminated by either party, and provides for payment of a termination fee by Navios Partners in the event the Management Agreement is terminated on or before December 31, 2024. The Ninth Amendment also sets forth the management fees for the period through December 31, 2019 and the two-year period commencing January 1, 2020, which management fees exclude dry-docking expenses, which are reimbursed at cost by Navios Partners: (a) $4,225 and $4,350, respectively, daily rate per Ultra-Handymax vessel; (b) $4,325 and $4,450, respectively, daily rate per Panamax vessel; (c) $5,250 and $5,410, respectively, daily rate per Capesize vessel; (d) for the period through December 31, 2019, $6,700 daily rate per Post-Panamax Container vessel; (e) for the two-year period commencing January 1, 2020, $6,900 daily rate per Container vessel of TEU 6,800; and (f) effective in both periods, $50 per vessel daily rate for technical and commercial management services. Commencing January 1, 2022, the fees described in subsections (a), (b), (c) and (e) are subject to an annual increase of 3%, unless otherwise agreed. The Ninth Amendment is attached as Exhibit 4.1 to this report on Form 6-K (this “Report”) and is incorporated herein by reference.

On August 28, 2019, Navios Partners also entered into a third amendment (the “Third Amendment”) to the Administrative Services Agreement (as amended, the “Administrative Services Agreement”) with Navios ShipManagement Inc. to extend the duration of the Administrative Services Agreement until January 1, 2025, with an automatic renewal for an additional five years, unless earlier terminated by either party. The Third Amendment also provides for payment of a termination fee by Navios Partners in the event the Administrative Services Agreement is terminated on or before December 31, 2024. The Third Amendment is attached as Exhibit 4.2 to this Report and is incorporated herein by reference.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

				NAVIOS MARITIME PARTNERS L.P.
Date: September 11, 2019				By:		/s/ Angeliki Frangou
						Angeliki Frangou
						Chairman and Chief Executive Officer

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EXHIBIT INDEX

 

Exhibit No.		Exhibit
4.1		Amendment No. 9 to the Management Agreement, dated as of August 28, 2019
4.2		Amendment No. 3 to the Administrative Services Agreement, dated as of August 28, 2019