Thanks you Angeliki and good morning all. Yiayia Aggela in the 1980s with her husband, children Yianni and Sofia, her son-in-law, and a grandson. Investors should avoid Navios Maritime Holdings' common shares and remain wary of a potential future merger with Navios Partners to the detriment of the partnership's outside common unitholders. Cash and cash equivalents were $141 million. Our three pillars are now working well, both drybulk and containership sectors are performing and the tanker sector has improved materially in the past few months with more improvement expected. So any plans for further asset sales, especially on those older vessels? The big thing is about - we're looking at reducing further. In conclusion, positive demand fundamentals, mainly due to the start of economic activity around the world, along with reduced fleet availability, should continue to support both the dry bulk and containerized shipping industries in their continuing effort to mitigate through raising pandemic stall. Net fleet growth for 2021 is expected at 3.5% and only 1.5% for '22 below the projected increase in drybulk demand for both years. You have a huge fleet, and you have a break-even per open day of 2,460. CNN International's Leading Women with Becky Anderson airs every Tuesday on News Stream at 9:00 pm HKT/ 1:00 pm GMT / 8:00 am ET and Connect the World with Becky Anderson at 5:00 am HKT / 9:00 pm GMT / 4:00 pm ET. We have also chartered out 4,250 TEU containerships for periods between 3.5 years and 4.5 years, generating revenues of approximately $270 million. I think the number one is that, what we see is a good positioning on the company. Adjusted net income for the first nine months of 2021 amounted to $242 million compared to a $2.9 million loss for the same period last year. The battle follows four legal notices filed by Frangos in. The average Q3, 2021 time charter equivalent rate achieved per segment was Bulkers, $28,926 per day. Turn to Slide 18. One of the lowest on record. And what we are looking is how this investment we did will play. While we are positioned to capture the market upside, through our forward available days, our diversified chartering strategy has enabled to secure a pipeline of over $2.2 billion of contracted revenue. In concluding our drybulk sector review, demand is forecast to outpace net fleet growth in both 2021 and '22, a strong demand for natural resources combined with continuing COVID-related logistical disruptions and a slowing pace of new building deliveries, all support healthy levels of current and future freight rates. Just curious there. The terms of the loan includes an interest rate of 3% above LIBOR and depreciation profile of about 9 years and maturity in the first quarter of 2026. In that context, and thinking of deploying capital in the future, we've talked about how maybe tankers is an appealing asset class to go after because it's the bottom of the market to an extent. Got it. Navios Maritime Partners L.P. (NMM) CEO Angeliki Frangou on Q3 2021 We have very strong corporate governance and clear code of ethics. We have majority independent directors and independent committees, not to say our management operations. We can be very comfortable watching the drybulk market develop, we have 86% of our available days in the drybulk open to the market exposure because we are bullish on that. Widely-respected Fortune magazine included Greek shipowner and businesswoman Angeliki Frangou in the list with the 25 most powerful women in the world for 2014. The agenda for today's call is as follows. For more information and how to manage your privacy settings, please refer to our privacy and cookie policies. And in terms of those sort of three, are you willing to rank at the moment of those three, which is the most appealing or if one outranks the other two or any sort of color you can give on how you are thinking strategically about whether you decide to pay down debt, pay back shareholders or grow the company. Angeliki Frangou has been the Chairman and Chief Executive Officer of Navios Maritime Holdings Inc. (NYSE: NM) since August 25, 2005. Post-merger NMM will have approximately 19.7 million units outstanding. Definitely sounds like you have the flexibility across the board with that. Navios Maritime Partners L.P. (NMM) CEO Angeliki Frangou on Q4 2020 Please. I am pleased with the results for the full year and fourth quarter of 2020. Is this happening to you frequently? NMM has a strong balance sheet with low leverage, 43.5% in combined net-debt-to-book capitalization and man has diversification and scale with an 85 vessel fleet we ranked in the top-10 among the publicly incited cargo fleet, about 66% of our available base assets at an average charter rate of $18,612 net per day and 34% of our fleet available days are open or the index link. In addition, Ms. Frangou serves as the Chairman and Chief Executive Officer of Navios Partners, an affiliated limited partnership trading on the New York Stock Exchange, since August 2007, and as the Chairman and Chief Executive Officer of Navios Maritime . We have - we see the potential, but we see - we need to see it materialize. Celebs Wiki Angeliki Frangou fans also viewed: Daniel David We aspire to have zero emissions by 2050. Time charter revenue for the year increased to $226.8 million compared to $219.4 million in 2019. At Navios, the pandemic galvanized us. The bailout terms will likely result in Angeliki Frangou regaining full control of her shipping empire over the next 18 months with the ultimate outcome likely a merger between Navios Maritime Holdings and Navios Partners with Ms. Frangou grabbing a large stake in the combined company. The battle follows four legal notices filed by Frangos in Greece late last year, containing a raft of accusations against his sister and two companies she controls. Slide 7 sets forth key strength of the compliance entity. And also we have to see that target, which we also see a good potential to actually happen. Definitely looks well-timed and a good overall return. Navios Maritime Holdings: Near-Term Debt Maturities Unlikely To Be An As a result, we re-imagined the modern shipping company. So, I guess going forward, is there a specific debt target or leverage ratio you're pursuing before kind of switching to some kind of return of capital, be it either repurchasing units at a massive discount to NAV or increasing the quarterly distribution? With the help of a strong second half 2020 ended the year with a BDI averaging 1,066. So basically we can fix and you have seen in the container segment we fix multi-year contracts. I'm also proud to be working with the social countries group whose core values include diversity in [indiscernible] and safety. Frangou previously served as Chairman, Chief Executive Officer, and President of International Shipping Enterprises, Inc., which acquired . Angeliki Frangou Net Worth (2023) | wallmine About one-third of our fleet will be in each of the dry . Fleet utilization for the fourth quarter of 2020 was almost 100%. [Operator Instructions]. Ms. Frangou has also been the Chairwoman and Chief Executive Officer of Navios Maritime Holdings Inc. (NYSE: NM). Since 2015, Ms. Frangou has also been a Member of the Board of Trustees of Fairleigh Dickinson University. The benefits of diversification are reflected in recent market activity. We have been profitable in Q4 as contracted revenue exceeds total expenses by $57 million, yet we still have about 2,473 open and index-linked days. The increase were mitigated by a 17.4% decrease in the time charter equivalent rate achieved in the fourth quarter of 2020. With us today from the Company are Chairwoman and CEO, Ms. Angeliki Frangou; Chief Operating Officer, Mr. Stratos Desypris; Chief Financial Officer, Ms. Eri Tsironi; and Executive Vice President of Business Development, Mr. George Achniotis. This complete formal presentation and we open the call to questions. Angeliki Frangou biography. Angeliki Frangou and her brother John square up at trial in London In concluding, the tanker market continues to remain challenged, following reduced crude and product demand associated with COVID restraints. Our net debt to capitalization is 43.5%, and our debt maturities are targeted through 2030. The . Net debt/book capitalization was at a comfortable level of 41.7%. I would now like to turn the call over to Angeliki for her final comments. But those of us in shipping will try to understand the impact of all these things based on a simple metric on ton miles the cost of shipping one ton of freight for one mile. The Convertible Debentures have a term of five years and bear interest of 4% PIK payable at maturity, if not earlier converted. About Navios Maritime Holdings Inc. Navios Maritime Holdings Inc. (NYSE: NM) is a global, vertically integrated seaborne shipping and logistics company focused on the transport and transshipment of drybulk commodities including iron ore, coal and grain. However, the results of Navios Acquisition included in the Q3 Navios Partners results are only for the period from August 26,; through September 30, 2021. For more information and how to manage your privacy settings, please refer to our privacy and cookie policies. Thank you, Angeliki, and good morning. Angeliki N. Frangou served on 1/29/2019, answer due 2/19/2019; George Malanga served on 1/29/2019, answer due 2/19/2019; Navios Maritime Holdings, Inc. served on 1/29/2019, answer due 2/19/2019; John Stratakis served on 1/29/2019, answer due 2/19/2019. Then Mr. Achniotis will provide an operational update and an industry overview. Of course we also entered into the crude and product tanker segment. Angeliki Frangou led the creation of approximately $4 billion in total value at the Navios Group, comprised of four global maritime shipping and logistics companies, three of which trade on the New York Stock Exchange, including Navios Maritime Holdings Inc. (NYSE: NM), Navios Maritime Partners L.P. (NYSE: NMM) and Navios Maritime Acquisition Corporation (NYSE: NNA). Maybe just, I know, one final one I did want to ask. The diversification allows us to balance a chartered strategy across different business segments, optimizing the profit potential with cash flow certainty. With us today from the company are Chairman and CEO, Angeliki Frangou; Chief Financial Officer, Mr. Stratos Desypris; and Executive Vice President of Business Development, Mr. Georgios Achniotis. If we find opportunities, we can always expand. Vessels over 20 years of age are about 7.6% of the total fleet, which compares favorably with the previously mentioned record low order book. But also to, you know, a recovery on the tanker segment. And to capture the spot market and wait for the period market to come. There's always a replacement to give, you know, one of the things that we said from, and I think, Stratos also mentioned, we have an average age. So, basically what we want to see is number one, this market drybulk to materialize, which we are bullish about it. Holders of the company's preferred shares (NYSE:NM.PG and NYSE:NM.PH) will have to hope for a Navios Maritime Holdings / Navios Partners merger as otherwise there's no reasonable chance for these securities to recover. Angeliki Frangou. You can read more about how we handle your information in our privacy policy. So we went to work, Chairwoman and Director of Navios Maritime Holding Angeliki Frangou stated speaking at the private dinner she hosted during the Posidonia 2022. Forward-looking statements are statements that are not historical facts. You can pay down debt aggressively, you can reward shareholders aggressively and you can actually acquire assets fairly aggressively. We are not shy of actually fixing it. But purely the volatility that we show create, you know, people are still waiting to make an assessment on period. In this limited sphere we are optimistic. TradeWinds is part of NHST Global Publications AS and we are responsible for the data that you register with us, and the data we collect when you visit our websites. Angeliki N. Frangou - Biography - MarketScreener.com The current product tanker orderbook is 6% of the fleet, which compares favorably with the 8.4% of the fleet, which is 20 years of age or older. In this process we have been pioneering and are adopting certain environmental regulations up to two years in advance, aiming to be one of the first fleets to achieve full compliance. It can be accessed online at: http://edition.cnn.com/video/#/video/business/2013/02/12/leading-women-angeliki-frangou-navios-shipping.cnn. Global iron ore demand is expected to increase by 2.7% in this year and the additional availability of iron ore shipments to China are expected to increase as still masterplan stockpile, driving demand for Capesize vessels. Lawsuit claims Frangou and board sought to push out shareholders Angeliki? Turning to Slide 25. Well, thanks, Angeliki for your comments. I wrote this article myself, and it expresses my own opinions. So this is a big investment for Q3. These together with near record low orderbook could boost crude and product tanker rates in the near term. Now I turn the call over to Navios Partners' Chairman and CEO, Mr. Angeliki Frangou. The above increase was partially -- the above decrease was partially mitigated by the $7.4 million increased revenues discussed above and $1.3 million decrease in Time Charter and volume expenses and a $1.1 million increase in net other income. In addition, Russia and Ukraine account for about one third of the global wheat supply and 186.7 million tons of seaborne coal. The transaction based scale through a larger diversified asset base with an increased earning capacity. Angeliki Frangou Biography, Age, Height, Husband, Net Worth, Family Vaccine roll-outs, continued fiscal stimulus and governmental infrastructure projects will continue to support economic growth. Diversification takes advantage of global trade patterns and Slide 8 illustrate this. And overall we like to have a low leverage. Scrapping totaled 16 million tons in 2020, almost doubles the 2019 total. So you will see the effect of the results in April 1 and going forward. The loan terms also provide for prepayment premiums ranging from 5%-10% during the first 36 months which would also be payable in the form of Convertible Debentures. As to our balance sheet update, we are in advanced discussions to finalize a $116 million loan to refinance in upcoming months and upcoming maturities in the third quarter of 2021. Leverage remains very low and net loan to value is 28.3% in an asset base estimated at over $4.5 billion. Angeliki Frangou: 'I am optimistic but I wish it were for different TradeWinds is part of NHST Global Publications AS and we are responsible for the data that you register with us, and the data we collect when you visit our websites. For the fourth quarter, Navios Partners reported revenue of $69.2 million and adjusted EBITDA of $35.5 million. Angeliki Frangou, chief executive of Navios Maritime Holdings and Navios Maritime Partners speaks at a company dinner at the National Gallery in Athens in June 2022. The Greek company's chief executive Angeliki Frangou said she was. Angeliki Frangou has been Navios Logistics Chairwoman and a Member of the Board of Directors since its inception in December 2007. The bailout terms will likely result in Angeliki Frangou regaining full control of her shipping empire over the next 18 months with the ultimate outcome likely a merger between Navios Maritime . If everyone dies, it is not anymore existing. All right, second question, looking at Slides 11 and 14, clearly showing the strength of your balance sheet, you mentioned earlier in the call, your fixed charter backlog is giving you pretty substantial cash flow visibility, very low spot day break-evens. Before I start discussing our financial highlights, I would like to draw your attention to see one-off items that are listed in Slide 11. PIRAEUS, GREECE--(Marketwire - Feb 27, 2013) - Angeliki Frangou, Chairman and CEO of the Navios Group of Companies, is featured on CNN International's Leading Women with Becky Anderson in a three Part Series airing this month. The vessel we expected to be delivered in the second half of 2022. Please turn to Slide 27. We have currently fixed 66% of our 29,526 available days for 2021. On average, we are approximately just over $15,000 chartered on the dry side and around $17,000 on the containerships. It doesn't sound like it has, but curious if there's any sort of hold back because of that lack of visibility. This completes our formal presentation, and we open the call to questions. Please turn to Slide 19. Angeliki? Then Mr. Achniotis will provide an operational update and an industry overview. Containership demand growth of 5.7% in 2021 and 3.7% in '22 is expected to exceed supply a pent-up demand for congestion, restocking and increases in consumer demand for goods all support increasing Connie volumes. As Angeliki mentioned earlier, today, the Navios Containers unitholders approved the measure of Navios Partners. I now pass the call to Eri Tsironi, our CFO, which will take you through the financial highlights. She is currently single. All grain production this year will reach a record according to the international gains counting and the USDA. A Leading Women with Becky Anderson round-up show featuring Angeliki Frangou will air on Wednesday, February 27 at 11:30am CET / 10:30 am GMT / 6:30 pm HKT and 6:30 pm CET / 5:30 pm GMT / 1:30 am Thurs HKT, and at various dates and times in March. Ms. Frangou is also a Member of the Foundation for Economic and Industrial Research. I'll turn it over. Lastly within our Tanker segment, our long-term contracts provide protection and 65% of our 2022 available days remain open to capture the ongoing market recovery. Click to read the full policy [+]. Governments having put in place emergency monitor and fiscal plans to support the economies have kick-started faster than expected the recovery in the world economy. In the West, the worst impacts of Covid appear to be fading. Overall our diversified platform should provide flexibility, allowing us to capitalize across segment opportunities. Angeliki Frangou is Chairman and Chief Executive Officer of Navios Holdings. We have arranged the new facility of $72.7 million for the refinancing of three existing facilities with short and medium term durations. Also - good afternoon and also congratulations on there, your first call here post-merger. The structure provides for an effective purchase price of $41.5 million and an effective interest rate fixed for a festive period of 4.4%. You mentioned that you sold the 2006 Panamax, but still have a handful of 2004 and 2005 built vessels. However, the pandemic broke the logistics chain and basic materials had to be airlifted to combat shortages. The nominal GDP today is exponentially higher than compared to the nominal GDP of 50 years ago. Navios has deescalating [indiscernible] options on the vessels starting in year 4 before the charter generation. To access the webcast please go to the Investors section of Navios Maritime Partners website at www.navios-mlp.com. According to our Database, She has no children. The agenda for today's call is as follows: First, Mr. Frangou will offer opening remarks. Slide 10, details our strong operating free cash flow potential. I now pass the call to George Achniotis, Executive Vice President of Business Development to discuss the industry section. Our merger with Navios Maritime Containers was approved and is expected to close on March 31, 2021. I mean, you have much larger asset base. For 2021 contracted revenue is expected to generate $12.6 million in excess of total fleet expense. Read more about DN Media Group here. Over the last five years, around 40% of European natural gas and 27% of European oil was supplied by Russia. Service was accepted by Israel David. Please turn to Slide 4. Angeliki Frangou sees optimism amid chaos :: Lloyd's List Slide 10 shows our combined liquidity as of December 31, 2020, we had total cash of $38.3 million and total borrowings of $719 million. We continue to renew our fleet and improve average profile. I think that one issue that I faced, no matter was on 140 vessel fleet, you will have some replacement. Our diversification strategy creates resilience in the overall business model and enable us to mitigate individual segment volatility. Long-term borrowings including the current portion net of deferred fees amounted to $1.4 billion. As a reminder, this conference call is being webcast. Turning to Slide 22. NMM has $2.2 billion of contracted revenue. In Slide 15, you can see our target strategy for 2021. I would also like to highlight that 2021 results not comparable to 2020 as in 2021 NMM acquired two companies and is expected to increase its available days by 85% in 2021 and by 171% in 2022 compared to 2020. I think a low leverage is a big driver to our model. Our available days increased by 63% to 20,421, while the average nine month 2021 combined time charter equivalent rate increased by 76% to 20,991. It can be accessed online at: http://edition.cnn.com/video/#/video/business/2013/02/19/leading-women-angeliki-frangou-daniela-mercury.cnn. For 2022 we have fixed approximately 42% of our open days at $29,350 per day and our contracted revenue provides for a break-even of $2,469 per open day. So, starting off with the merger, your fleet is clearly massive, it's diverse. Let's not forget that the containership sector has been -- the container sector has recovered from second half of last year versus dry bulk as more this year that we are experiencing a much a different potential. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. DN Media Group is the leading news provider in the shipping, seafood, and energy industries, with a number of English- and Norwegian-language news publications across a variety of sectors. Post pandemic stimulus measures in the advanced economies and increasing industrial production has fueled demand for the three major bulk cargos, specifically the iron ore global trade is expected to grow by 3.4% in 2021 and 2.4% in '22. Adjusted net income for the quarter amounted to $12.8 million. At this time, I'm showing no further questions. More recently the freight market has corrected on the back of Chinese winter steel production limits and power shortages due to unavailability of gas and coal. We don't have much information about She's past relationship and any previous engaged. If you look at the graph on the right, net fleet growth is focused to be 2.6% this year and only 0.7% for '22. And lastly, we'll open the call to take questions. Thank you for your participation. Asian coal imports, which account for over 80% of the world's imports trade, are expected to increase by 4.3% in 2021, following a decline of 6.8% in 2020. Moving to the earnings highlight in Slide 13. Net fleet growth is expected to remain low over the next 3 years, as the order book is the lowest or effort. Document filed by Norman Roberts. The approved merger with Navios Container is expected to close on March 31. So, it's not that we are basically - it's not a number, but you will need to do, you know, sell and manage the technology. Excellent. She is the Chairman, Chief Executive Officer and Director of Navios Maritime Holdings., of Navios Maritime Partners L.P., of Navios Tankers Management Inc. and Navios Maritime Acquisition Corporation. 67 WALL STREET, New York - September 27, 2012 - The Wall Street Transcript has just published its Transportation and Logistics Report offering a timely review of the sector to serious investors and industry . Demand and restocking is expected to prove demand growth well above net fleet growth, supporting the recent dramatic rising rates. The displacement of established suppliers not only increases price, but increases ton miles as countries and people are forced to source their needs from places further away. Using the client market average time charter rate of $23,549 per day, we believe NMM is well positioned for a strong 2021. In Slide 11, you can see the strength and stability of our balance sheet. However, it should be noted that current rates are still above two times the 10-year averages. Frangou, originating from the island of Chios, Greece, is considered one of the world's shipping magnate.The powerful Greek shipowner obtained a bachelor's degree in Mechanical Engineering from Fairleigh Dickinson University and a . Purely from a point of the market, I'll say that today, you may have some more opportunities to pick up attractive dry bulk vessels because you still have some recovery. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. It will take some time, I mean, there is good, I mean, we show volatility, we went to gates from 80,000, we are down to around 30,000. I'll turn the call back over to Angeliki for any closing remarks. About a third of our fleet operate in each of the drybulk, containerships and tanker segment. You know, it's like as we die. We'll take the next question from James with Citigroup. 2021 2023 Navios South American Logistics Inc. All rights reserved. Moving to the first nine month 2021 period, time charter revenue reached $445 million compared to $158 million in 2020. Even with the increase in new building orders, demand is forecast to outpace net fleet growth in both 2021 and '22. Turning to Slide 15, you can our ESG initiatives. Ms. Frangou has also been Chairwoman and CEO of Navios Holdings (NYSE: NM) our sponsor since August 2005. Please move to Slide 9 which provide some selected segment data. Now I will review the safe harbor statement. Thank you, Doris, and good morning to all of you joining us on today's call. And you need to be always running the different scenarios. I think we are evolving from a world of just in time manufacturing to just in case where countries and companies purposefully build redundant systems. http://edition.cnn.com/video/#/video/business/2013/02/12/leading-women-angeliki-frangou-navios-shipping.cnn, http://edition.cnn.com/video/#/video/business/2013/02/19/leading-women-angeliki-frangou-daniela-mercury.cnn, http://edition.cnn.com/SPECIALS/leading-women. Today, the BDI stands at 2,271 with a year-to-date average more than double its level at the start of 2020, and the highest it has been in 11 years. On August 25, 2021 Navios Partners acquired 62.4% of the equity interest in Navios Acquisition through the acquisition of 44.1 million Navios Acquisition's common shares for an aggregate investment of $150 million. We believe that this combination offers a stronger, more resilient entity mitigating sector specific cyclicality. I noticed in the release, and you mentioned it also in your comments, just about securing drybulk charters in the period market when the time makes sense. Navios uses cookies on this website. Accordingly, 2021, net fleet growth is expected at 2.6% and only 0.7% for '22. Just wanted to actually ask about how you're thinking about the capital structure from here.

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