It appears like the market has finally decided to give some well-deserved recognition to NMM, which has recorded a total return of 17% YTD. Still, we argue there is more to go as NMM continues to be amongst the most heavily discounted companies in our coverage space, currently offering a discount to NAV well above 50%. While having a diversified fleet of tankers, bulkers and container vessels, the extensive charter coverage in containers (2026: 92%), results in spot exposure being predominantly ....
