A protest letter filed by an activist investor against the management of US-listed Navios Maritime Partners has yet to make a visible impression on the company and the analysts that cover the shipowner.

In a presentation of second-quarter results on Tuesday, chief executive Angeliki Frangou and fellow company executives failed to address the 22 July letter, in which minority investor MRMP-Managers criticised them and asked for an independent investigation into potential conflicts of interest at the firm.