This completes our quarterly result for NMM. Rates in all asset classes rose sharply reflecting surging trade driven by strong demand for both major and minor bulk commodities. 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. Your balance sheets in great shape. We also continued to renew and expand our fleet. As Angeliki mentioned, earlier the merger with Navios Acquisition was completed on October 15, 2021. I wrote this article myself, and it expresses my own opinions. CHARTERING OFFICER/MANAGER GAS CARRIERS/TANKERS, Panamax Chartering Manager, Chartering Broker. The diversification allows us to balance a chartered strategy across different business segments, optimizing the profit potential with cash flow certainty. What will it take to increase the distribution? I think that one issue that I faced, no matter was on 140 vessel fleet, you will have some replacement. But on the other side, we are very exposed to the market. Overall our diversified platform should provide flexibility, allowing us to capitalize across segment opportunities. Cash and cash equivalents were $141 million. George? And then you mentioned the word replacement, right. And we have seen it. And then now that, obviously, the dry bulk and containership markets are both extremely strong. So this is a net benefit, the inefficiency. Using the client market average time charter rate of $23,549 per day, we believe NMM is well positioned for a strong 2021. We operate in three segments, have 15 diversified vessel types, and serve over 10 end market. We consolidated our separate activities in dry bulk and in containers and in tanker under one roof. 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 net result is that we should have more predictable entity level return. 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. Long-term borrowings, including the current portion, net of deferred fees amounted to $486.9 million. As you can see from the top graph on the space, the IMF expects global GDP to grow by 5.5% in 2021. All vessels are expected to be delivered in the second half of 2022. 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. You mentioned that you sold the 2006 Panamax, but still have a handful of 2004 and 2005 built vessels. And this is the strategy going forward. Europe's imports are expected to grow at 15% on and Asia, excluding China, is expected to import 9% more iron ore in '21 than in 2020. For Q4 of 2021, our contracted revenue exceeds total expenses by approximately $57 million and we have around 2,500 days with market exposure that will provide additional operating free cash. The agenda for today's call is as follows: First, Mr. Frangou will offer opening remarks. In fact the BDI reached 5,650 on October 7, the highest level in 13 years led by increased iron-ore exports out of Brazil, pushing Capesize rates in just under $90,000 per day in early October. Navios corporate chairwoman Angeliki Frangou and other executives combined a tender offer last month for the outstanding American depository shares at a fraction of the unpaid dividends' value . In 2017-18, Ms Frangou took advantage of lower asset prices to acquire 12 bulkers for mother company Navios Maritime Holdings and another 12 for Navios Partners. By continuing to use this website, you agree to the use of cookies as set out in our full policy. 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. Thanks you Angeliki and good morning all. Vessels over 20 years of age are 11.3% of the total fleet, which compares favorably with a low orderbook. We don't have much information about She's past relationship and any previous engaged. On Tuesday, debt-laden dry bulk shipper Navios Maritime Holdings (NYSE:NM) announced the eagerly-awaited terms of its widely-anticipated bailout by CEO and Chairwoman Angeliki Frangou: Remember, the company will be required to repay $455.5 million in 7.375% First Priority Ship Mortgage Notes (the "Ship Mortgage Notes") next month followed by $155 million in 11.25% Senior Secured Notes in August (the "Senior Secured Notes"). On the grain side, global grain trade continues to be supported by an ever-increasing world population. So - we went to work," Chairwoman and Director of Navios Maritime Holding Angeliki Frangou stated speaking at the private dinner she hosted during . If you have an ad-blocker enabled you may be blocked from proceeding. Sure. First, Ms. Frangou will offer opening remarks. The net book is expected to close on March 31, 2021. In this process, we have been pioneering and are adopting certain environmental regulations up to 2 years in advance. This concludes my presentation. As you can see in the blue box on the lower right, increases in demand for goods, port congestion and restocking will lead to container demand growth of 6.3% in 2021, and 3.9% in '22. I think the number one is that, what we see is a good positioning on the company. You may disconnect at any time. Slide 7 sets forth key strength of the compliance entity. Navios' fourth company, Navios South American Logistics Inc., owns and operates the largest independent dry port in the Hidrovia region of South America and one of the largest independent liquid ports in Paraguay. We will be profitable in Q4 as contracted revenue exceeds total expenses by $57 million. The full results of operation of Navios Containers will be included in Navios Partners comments commencing April 1, 2021. The new loan will have an interest of 3% above LIBOR and amortization profile of about 5 years and maturity in the second quarter of 2025. The vessel we expected to be delivered in the second half of 2022. On a combined basis, about 1/3 of our available days are open or interest team providing market exposure to capture market upside. For 2022 we expect a historically low break-even of $2,469 per open day with 58% of our 47,268 available days open or index-linked providing us with a market exposure. The Leading Women with Becky Anderson program profiles professional women who have made it to the top in all areas of business, the arts, sport, culture, science and more. Angeliki Frangou Net Worth Her net worth has been growing significantly in 2020-2021. Partners financial results. The recently completed merger with Navios Acquisition gave us a strong foothold in this tanker sector with 45 tanker vessels. Also, we agreed to acquire a new building Capesize vessel for $31.6 million. Obviously it's been a large factor in the market, but has that lack of visibility to sort of the core demand created any sort of headwind to getting business done on the container shipping - just this is actually more pertinent to the container shipping side. But most importantly, we were there for each other, she said emphatically and added: Oddly, the enforced isolation of the pandemic also provided time to reconsider our business. Basically, I mean, we see a lot of value on both segments. Angeliki? His daughter. Meanings for Angeliki Frangou A popular Greek shipowner and Director who served as a Chief Executive Officer of Navios Maritime Holdings. About one-third of our fleet will be in each of the dry . 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. Turning to Slide 12, you can see some fleet and debt updates. Slide 6 goes through recent developments. New York-listed bulker owner Navios Maritime Holdings has room to lower debt further after a very profitable fourth quarter. Slide 9 details our operating cash flow potential for 2021, 66% of our available base as fixed -- at an average rate of $18,612 net per day. In addition 10.4% of the fleet is currently 20 years of age or older. So this is a big investment for Q3. So this is basically what we have been doing and what we are seeing developing. Here you fix them for the 37,000 a day, which, as I run the numbers, it looks like a 5-year payback, which sounds pretty substantial given these are new buildings. When it comes to philanthropy, Greeks invented the word, but by Chris Salboudis On Saturday December 3, 2022, after a Navios Angeliki Frangou: The Pandemic Galvanized Us! 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. Terms of the bail-out package will likely result in Ms. Frangou regaining full control of Navios Maritime Holdings. The transaction based scale through a larger diversified asset base with an increased earning capacity. Is that a repeatable opportunity you think? 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. Angeliki N. Frangou is Chairman of the Board, Chief Executive Officer of Navios Maritime Holdings Inc. Fleet utilization for the fourth quarter of 2020 was almost 100%. Our market exposure days are calibrated towards drybulk and tanker vessels, while about 88% of our containerships are fixed. Additionally, we are positioning our dry bulk fleet for what we hope will be a strong balance of 2021. Actually, what we are doing is repositioning a fleet. Ms. Frangou has also been Chairwoman and CEO of Navios Holdings (NYSE: NM) our sponsor since August 2005. Time charter revenue for the year increased to $226.8 million compared to $219.4 million in 2019. The increase was mainly due to the 32.3% increase in available days of 2020. EBITDA and net income for Q3, 2021 includes a $30.9 million gain related to the sale of three vessel, Navios Dedication, Navios [Verde] and Harmony N, a $4 million bargain purchase gain upon obtaining control of the Navios Acquisition, and $2.9 million transaction cost in relation to the merger with Navios Acquisition. And you don't see the 3-year market developing. In particular, the extremely tight availability of Panamaxes, combined with poor congestion, increasing trade and lack of new buildings has proper period time charter rates to keep 13-year highs of $37,000 per day for periods after a year. Document filed by Norman Roberts. This does conclude today's program. And then going forward, which subsector would you maybe look to grow? It should be noted that about 73% of the orderbook is for 13,000 TEU vessels or larger. [1] She is the chairman, chief executive officer and Director of Navios Maritime Holdings ., [2] of Navios Maritime Partners L.P., of Navios Tankers Management Inc. and Navios Maritime Acquisition Corporation. Lastly, we have a strong balance sheet with low leverage. Our fleet is in the top-10 publicly listed dry cargo fleet globally, as measured by a number of vessels. Nikos Fragos and daughter Angeliki Frangou Greek Shipping Awards and TradeWinds Wealth: $192 million (151 million) Industry: Shipping Nikos started Good Faith Shipping Co in 1966. But don't forget, we are 86% of our available days open on drybulk. Eri? To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. This resulted in a reduction of interest expense for 2020 by approximately $15 million compared to 2019. It can be accessed online at: http://edition.cnn.com/video/#/video/business/2013/02/26/leading-women-angeliki-frangou-daniela-mercury.cnn. But together with our contracted revenue of $2.2 billion, provides an enduring platform with significant upside potential. We have fixed 10 of our containerships for long durations, creating approximately $690 million in contracted revenue. Navios Partners does not assume any obligation to update the information contained in this conference call. We are also constantly working on refinancing and extending maturities. 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. Just trying to understand how you're thinking about the work to be done on that side? I'll turn the call back over to Angeliki for any closing remarks. Angeliki Frangou (the "Reporting Person") is a Greek Citizen with a principal business address at 85Akti Miaouli Street, Piraeus, Greece 185 38. The entity will have an enhanced credit profile through increased cash flow supporting deleveraging as well as growth. In Slide 11, you can see the strength and stability of our balance sheet. And we have seen that, we have $1.6 billion contracted revenue on containers, $2.2 billion overall on the company. About 91% of our debt is covered by the scrap value of our vessels alone. Such forward-looking statements are based upon the current beliefs and expectations of Navios Partners' Management and are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements. 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. 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. Navios Partners controls 142 vessels with balanced exposure to the drybulk, containership and tanker segments. You can read more about how we handle your information in our privacy policy. But I'm talking about as a portfolio, you'd like to keep an age profile characteristics somehow on a certain level. And I think on a - it seems to be that Q3 was the low part of the tanker segment, and we are seeing the market slowly recovering. Yes, we have put out some details also in our press release today. It can be accessed online at: http://edition.cnn.com/video/#/video/business/2013/02/19/leading-women-angeliki-frangou-daniela-mercury.cnn. 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 . 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 . Ms. Frangou also acts as Vice Chairwoman of the China Classification Society Mediterranean Committee, and is a member of the International General Committee and of the Hellenic and Black Sea Committee of Bureau Veritas, and is also a member of the Greek Committee of Nippon Kaiji Kyokai. I'm also proud to be working with the social countries group whose core values include diversity in [indiscernible] and safety. Excluding these items, adjusted EBITDA for the nine months of 2021 amounted about $270 million compared to $64 million for the same period last year. Debt-laden dry bulk shipper is bailed out by CEO and Chairwoman Angeliki Frangou. Through mid-March 2020 21, contracted is down by about 62% compared to the same period last year. Greece and Cyprus: the success story of the Eastern Mediterranean, says Endy Zemenides, A Visit to St. Nicholas National Shrine at the WTC, Hellenic Lawyers Association Holds 32nd Annual Gala, National Hellenic Society Fundraiser in NY for the Promotion and Preservation of Greek Heritage a Great Success, Carol Burnett The First Lady of Television Comedy, 3rd Annual Athens Square Park Christmas Tree Lighting Ceremony, The Hellenic Initiatives 10th Anniversary New York Gala Raises More Than $2M, Were Back! Annunciation G.O. We also anticipate that diversification and scale should make NMM a more attractive investment platform as we take advantage of global trade patterns. Turning to Slide 15, you can our ESG initiatives. Editor's note: US District Judge Mary Ann Vial Lemmon dismissed the litigation against the owners of Mariner Shipyard in April 2010. Navios uses cookies on this website. 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. Approximately half of the fleet will be drived by vessels, and the other half will be container ships when measured by the number of vessels. So you always have to be very alert to see what is the best area where the opportunity lies. NMM has a solid balance sheet and a modest leverage, a healthy income statement and a pipeline of about $2.2 billion in contracted revenue. Celebs Wiki Angeliki Frangou fans also viewed: Daniel David Please turn to Slide 18. Now I turn the call over to Navios Partners, Chairwoman and CEO, Ms. Angeliki Frangou. First COVID stimulus measures have caused a sharp recovery of demand for goods in Western OECD economies as noted on the two lower charts. If everyone dies, it is not anymore existing. So all these unique things that we see on the supply chain happening, these vessels we think is a good match. I will briefly review Navios' financial results for the Fourth Quarter and Year Ended December 31, 2020. I think this is something that we are very [technical difficulty]. And that is something that we are not shy doing. 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. In the East China is struggling with its zero Covid strategy.. Click to read the full policy [+]. Scrapping totaled 16 million tons in 2020, almost doubles the 2019 total. Ms. Frangou received a bachelors degree in mechanical engineering, summa cum laude, from Fairleigh Dickinson University and a masters degree in mechanical engineering from Columbia University. We believe that this combination offers a stronger, more resilient entity mitigating sector specific cyclicality. The current average contracted net rate of the four vessels is approximately $2,600 per day. 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. Also we have strength and stability in our balance sheet. Stratos? For more information about Navios Holdings please visit our website: www.navios.com. We are going to acquire 3 Janpanese fleet mid-sized vessels contracted under 15 gigabits of instruction. Instead, interest payments will have to be made in the form of new, unsecured convertible debentures (the "Convertible Debentures"). Conditions are not as favorable elsewhere. Navios Maritime Partners L.P. (NYSE:NYSE:NMM) Q2 2021 Earnings Conference Call July 27, 2021 8:30 AM ET Company Participants Angeliki Frangou - Chairman and Chief Executive Officer. And we have the tanker sector that we are watching as establish. We have about - commercial banks, about $600 million in Japanese and Chinese leases, which provides us more easier covenant. 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. We have - we see the potential, but we see - we need to see it materialize. The 2020 decrease is mainly attributable to Indian and Chinese imports declining by 13.8%, respectively. Please disable your ad-blocker and refresh. Will you order those ships and then subsequently contracted them and now you have basically a five year, maybe 5.5 year payback. In addition, Ms. Frangou has been the Chairman and Chief Executive Officer of Navios Maritime Partners L.P. (NYSE: NMM), an affiliated limited partnership, since August 2007, the Chairman and Chief Executive . Ms. Frangou is the Chairman and Chief Executive Officer of and the beneficial owner of all of the equity securities of Navios Shipmanagement Holdings Corporation ( "NSM" ). click here. As a result, we re-imagined the modern shipping company. This will be a transformative transaction for Navios Partners and will carry the significant benefits of diversification. What we have done is that, we have created a fortress balance sheet by chartering the container sector, which is extremely strong. Trial in London this week will aim to settle the siblings' complicated business arrangements. Our combined net debt to book capitalization is 43.5%, about 90% of our debt is covered by the scrap value of our vessels alone. Mortgage Notes (the "Ship Mortgage Notes") next month followed by $155 million in 11.25% Senior Secured Notes in August (the "Senior Secured Notes"). The container segment began strengthening in the third quarter of 2020, while the dry bulk market become turning in 2021. Please move to Slide 9 which provide some selected segment data. At the same time, being active in multiple sectors reveals opportunities. Just trying to understand, if that's actually sort of impacting your operations outside of just sort of the rate impact. Thank you for joining us for Navios Maritime Partners' Fourth Quarter and Full Year 2020 Earnings Conference Call. It can be accessed online at: http://edition.cnn.com/video/#/video/business/2013/02/12/leading-women-angeliki-frangou-navios-shipping.cnn. This decline can be partially attributed to owners hesitance towards the long-lived assets in light of macroeconomic uncertainty and engine technology concerns due to upcoming CO2 restrictions. On October 15, 2021 we completed a transformative merger with Navios Acquisition. There are 2 older and 5 younger executives at Navios Maritime Acquisition Corp. Overall, world grain sales increased by 7.7% in 2020 is expected to increase by about 2% in '21. During the quarter ended September 30, 2021 we had 9,027 available days compared to 4,499 days for Q3, 2020. 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. Angeliki? If you have an ad-blocker enabled you may be blocked from proceeding. Our Board is composed by majority Independent Directors and Independent Committees that oversee our management and operations. We are focusing on taking advantage of the different fundamentals across the sector we operate to maximize profitability. 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. So you have 140 vessels to 150 vessels, is that the kind of range you want to stay with or with those kind of asset sales kind of bring down the fleet levels from these numbers? The round up show premieres on the 4th Wednesday of every month. Wanted to maybe follow up on the commentary you just had with Randy, just in terms of deployment of capital, right now you're generating huge sums of cash. Adjusted EBITDA for the fourth quarter of 2020 increased to $35.5 million compared to $33.7 million for Q4 of 2019, mainly due to the increase in earnings discussed above. Moving to the earnings highlight in Slide 13. So this is a net benefit, the inefficiency. We actively renew and expand our fleet. Thank you for joining us for Navios Maritime Partners Third Quarter 2021 Earnings Conference Call. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Angeliki Frangou (left) is seen with her brother John Frangos in 2012. And lastly, we'll open the call to take questions. Angeliki N. Frangou. And also we have to see that target, which we also see a good potential to actually happen. I am pleased with the results for the full year and fourth quarter of 2020.