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No. of Recommendations: 1
The restructuring of the Charter Default insurance certainly helped.
- $166.0 million Net Income for the Full Year 2012
- $146.6 million Net Income for Q4 2012
- $352.6 million Liquidity
- $390.0 million EBITDA for the Full Year 2012
- $205.6 million EBITDA for Q4 2012
- Dividend of $0.06 per share

Somewhat of a concern, charter coverage beyond 2013. Goes from 46% => 8% -a huge drop-off.

Dividend seems manageable if NMM & NNA keep the yield steady. Not so sure on NMM's ability
to do so unless the market picks up in 2014.
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