 Revenue 69.1 million for H1 2020 28.8 million for Q2 2020Cash used inprovided by operating activities 4.5 million for H1 2020 2.5 million for Q2 2020EBITDA 24.9 million for H1 2020 7.0 million for Q2 2020Net incomeloss 2.9 million for H1 2020 2.1 million for Q2 2020Charter Extensions Time charters of two 10,000 TEU vessels extended through 2026Debt Maturities No significant debt maturities until 2023MONACO, July 23, 2020 GLOBE NEWSWIRE -- Navios Maritime Containers L.P. Navios Containers or the Company NASDAQ: NMCI, a growth vehicle dedicated to the container sector of the maritime industry, today reported its financial results for the second quarter and six months ended June 30, 2020.Angeliki Frangou, Chairman and Chief Executive Officer, stated, I am pleased with our results for the second quarter of 2020. The container trade was severely hurt by global quarantine in place for much of the second quarter of 2020. Yet, Navios Containers reported revenue of 28.8 million and EBITDA of 7.0 million for the second quarter of 2020.Angeliki Frangou continued, The timing of the recovery remains uncertain given the unique nature of the pandemic. Consumer demand has been understandably weak because of health and employment fears and general immobility arising from the pandemic. However, as people gradually return to a more normalized life, we expect that the economy will heal in the second half of 2020, with growth accelerating in 2021.HIGHLIGHTS -- RECENT DEVELOPMENTSTime charters of two 10,000 TEU vessels extended through 2026In June 2020, Navios Containers agreed to extend the time charters at a net daily rate of 26,276 until May 2026 for each of the Navios Unison, a 2010-built 10,000 TEU containership, and the Navios Constellation, a 2011-built 10,000 TEU containership. The charter extensions were agreed in return for a charter hire reduction of 1,050 per day per vessel until May 2024. Following the extensions, an additional cumulative EBITDA of approximately 22.0 million is expected for both vessels.The vessels cumulative additional EBITDA is calculated as follows: revenue at contracted net charter rate per day based on 360 days less, i operating expenses based on fixed rates as per the management agreement and ii general and administrative expenses equal to approximate current costs based on 365 days.Fleet EmploymentNavios Containers owns a fleet of 29 vessels, totaling 142,821 TEU. The current average age of the fleet is 12 years See Exhibit II. As of July 21, 2020, Navios Containers has chartered-out 72.9 and 11.1 of its available days for the remaining six months of 2020 and for the full year 2021, respectively including index-linked charters. Excluding index-linked charters, Navios Containers has chartered-out 69.3 and 9.3 of its available days for the remaining six months of 2020 and for the full year 2021, respectively, which are expected to generate 39.0 million and 22.8 million in revenue, respectively. The average expected daily contracted charter-out rate for the fleet is 10,556, net and 23,289, net for the remaining six months of 2020 and for the full year 2021, respectively excluding index-linked charters, and the total expected available days for the remaining six months of 2020 and for the full year 2021, are 5,336 and 10,585 days, respectively.Earnings Highlights EBITDA is a non-U.S. GAAP financial measure and should not be used in isolation or as a substitute for Navios Containers results calculated in accordance with U.S. generally accepted accounting principles U.S. GAAP. See Exhibit I under the heading, Disclosure of Non-GAAP Financial Measures, for a discussion of EBITDA of Navios Containers and a reconciliation of such measure to the most comparable measures calculated under U.S. GAAP.Second Quarter 2020 and 2019 ResultsThe second quarter of 2020 and 2019 information presented below was derived from the unaudited condensed consolidated financial statements for the respective periods. Three Month Period Ended June 30, 2020 Three Month Period Ended June 30, 2019 in thousands of U.S. dollars, except per unit data unaudited unaudited Revenue 28,790 33,678 Net LossIncome 2,119 448 Net cash provided by operating activities 2,490 9,358 EBITDA 7,035 12,730 Net LossEarnings per common unit basic and diluted 0.06 0.01 Revenue for the three months ended June 30, 2020 was 28.8 million, as compared to 33.7 million for the same period during 2019. The decrease of 4.9 million was mainly due to a decrease in time charter rates partially offset by the increase in the number of available days from 2,568 for the three months ended June 30, 2019, to 2,598 for the three months ended June 30, 2020. Time charter equivalent, or TCE per day decreased from 12,594 for the three months ended June 30, 2019 to 10,148 for the same period during 2020.Net Loss for the three months ended June 30, 2020 was a 2.1 million compared to 0.4 million Net Income for the same period in 2019. The 2.5 million decrease in Net Income was mainly due to a 5.7 million decrease in EBITDA and 0.6 million increase in amortization of deferred drydock and special survey costs. This overall increase of 6.3 million was partially offset by a: i 2.7 million decrease in depreciation and amortization, relating mainly to the lower amortization of intangible assets; and ii 1.1 million decrease in interest expense and finance cost, net.EBITDA for the three months ended June 30, 2020 decreased by 5.7 million to 7.0 million as compared to 12.7 million for the same period in 2019. The decrease in EBITDA was primarily due to a: i 4.9 million decreased in revenue; ii 1.1 million increase in time charter and voyage expenses; and iii 0.8 million increase in management fees due to the increase in the number of available days and the increase in the fee for the ship management services, as per the management agreement. This overall decrease of 6.8 million was partially offset by a: i 1.0 million increase in other income, net; and ii 0.1 million decrease in other direct vessel expenses.First Half of 2020 and 2019 ResultsThe information for the six month periods ended June 30, 2020 and 2019 presented below was derived from the unaudited condensed consolidated financial statements for the respective periods. Six Month Period Ended June 30, 2020 Six Month Period Ended June 30, 2019 in thousands of U.S. dollars, except per unit data unaudited unaudited Revenue 69,051 65,510 Net Income 2,890 501 Net cash used inprovided by operating activities 4,505 9,321 EBITDA 24,866 24,778 Net Earnings per common unit basic and diluted 0.08 0.01 Revenue for the six months ended June 30, 2020 was 69.1 million, as compared to 65.5 million for the same period during 2019. The increase of 3.6 million was mainly due to the increase in the number of available days from 5,039 for the six months ended June 30, 2019, to 5,237 for the six months ended June 30, 2020. TCE per day decreased from 12,409 for the six months ended June 30, 2019 to 12,225 for the same period during 2020.Net Income for the six months ended June 30, 2020 was 2.9 million compared to 0.5 million for the same period in 2019. The 2.4 million increase in Net Income was mainly due to a: i 2.8 million decrease in depreciation and amortization relating mainly to the lower amortization of intangible assets; ii 0.5 million decrease in interest expense and finance cost, net; and iii 0.1 million increase in EBITDA. This overall increase of 3.4 million was partially offset by a 1.0 million increase in amortization of deferred drydock and special survey costs.EBITDA for the six months ended June 30, 2020 increased by 0.1 million to 24.9 million as compared to 24.8 million for the same period in 2019. The increase in EBITDA was primarily due to a: i 3.6 million increase in revenue; ii 0.7 million increase in other income, net; and iii 0.1 million decrease in other direct vessel expenses. This overall increase of 4.4 million was partially offset by a: i 2.3 million increase in management fees due to the increase in the number of available days and the increase in the fee for the ship management services, as per the management agreement; and ii 2.0 million increase in time charter and voyage expenses.Fleet Summary Data: The following table reflects certain key indicators indicative of the performance of the Navios Containers operations and its fleet performance for the three and six months ended June 30, 2020 and 2019. Three Month Three Month Six Month Six Month Period Ended Period Ended Period Ended Period Ended June 30, June 30, June 30, June 30, 2020 2019 2020 2019 unaudited unaudited unaudited unaudited Available Days 1 2,598 2,568 5,237 5,039 Operating Days 2 2,597 2,563 5,225 5,026 Fleet Utilization 3 100.0 99.8 99.8 99.7 Vessels operating at period end 29 29 29 TCE 4 10,148 12,594 12,225 12,409 1 Available days for the fleet are total calendar days the vessels were in Navios Containers possession for the relevant period after subtracting off-hire days associated with scheduled repairs or repairs under guarantee, vessel upgrades, drydocking or special surveys. The shipping industry uses available days to measure the number of days in a relevant period during which vessels should be capable of generating revenues. 2 Operating days are the number of available days in the relevant period less the aggregate number of days that the vessels are off-hire. Operating days include ballast days between voyages. 