Table:
| (in thousands of U.S. dollars) | Year Ended December 31, 2019 | Year Ended December 31, 2018 | Year Ended December 31, 2017 |
| --- | --- | --- | --- |
| Net cash provided by operating activities | $96,112 | $55,637 | $48,117 |
| Net cash (used in)/ provided by investing activities | (56,467) | 27,863 | (42,365) |
| Net cash used in financing activities | (111,692) | (66,916) | (12,940) |
| (Decrease)/Increase in cash and cash equivalents and restricted cash | (72,047) | 16,584 | (7,188) |
| Cash and cash equivalents and restricted cash, beginning of year | 150,774 | 134,190 | 141,378 |
| Cash and cash equivalents and restricted cash, end of year | $78,727 | 150,774 | $134,190 |
Paragraphs:
B. Liquidity and Capital Resources
Navios Holdings has historically financed its capital requirements with cash flows from operations, issuances of debt securities and borrowings under bank credit facilities. Main uses of funds have been refinancings of outstanding debt, capital expenditures for the acquisition of new vessels, new construction and upgrades at the port terminals and expenditures incurred in connection with ensuring that the owned vessels comply with international and regulatory standards. Navios Holdings may from time to time, subject to restrictions under its debt and equity instruments, including limitations on dividends and repurchases under its preferred stock, depending upon market conditions and financing needs, use available funds to refinance or repurchase its debt in privately negotiated or open market transactions, by tender offer or otherwise, in compliance with applicable laws, rules and regulations, at prices and on terms Navios Holdings deems appropriate (which may be below par) and subject to Navios Holdings cash requirements for other purposes, compliance with the covenants under Navios Holdings’ debt agreements, and other factors management deems relevant. Generally, our sources of funds may be from cash flows from operations, long-term borrowings and other debt or equity financings, proceeds from asset sales and proceeds from sale of our stake in our investments. We cannot assure you that we will be able to secure adequate financing or obtain additional funds on favorable terms, to meet our liquidity needs.
See “Item 4.B Business Overview — Exercise of Vessel Purchase Options”, “Working Capital Position” and “Long-Term Debt Obligations and Credit Arrangements” for further discussion of Navios Holdings’ working capital position.
The following table presents cash flow information for each of the years ended December 31, 2019, 2018, and 2017 and were adjusted to reflect the adoption of ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash.
Cash provided by operating activities for the year ended December 31, 2019 as compared to the year ended December 31, 2018:
Net cash provided by operating activities increased by $40.5 million to $96.1 million for the year ended December 31, 2019, as compared to $55.6 million for the year ended December 31, 2018. In determining net cash provided by operating activities, net loss is adjusted for the effects of certain non-cash items, which may be analyzed in detail as follows:
Question:
What was the change in Net cash provided by operating activities between 2018 and 2019?
Answer: 40.5