Also, we agreed to acquire a new building Capesize vessel for $31.6 million. Angeliki Frangou forced Navios Maritime Holdings' preferred shareholders into a "prisoner's dilemma" in an attempt to push them out and fatten her own bank account, a lawsuit alleges. 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. This will be a transformative transaction for Navios Partners and will carry the significant benefits of diversification. Excluding these items, total adjusted EBITDA for Q3 amounted to $145 million compared to $31 million for the same period last year. I mean, you have much larger asset base. 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. I wrote this article myself, and it expresses my own opinions. Please. And the tanker sector is just coming off - just coming up from a very low point, which was the lowest point in Q3. Angeliki Frangou has positioned Navios perfectly to capture the ongoing growth of emerging economies for years to come Evidently, going from a defunct Brazilian tanker to running a group worth in excess of $4bn (3.4bn) took more than luck. 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. Could you just give a flavor of sort of what the liquidity looks like from your perspective in terms of deploying the drybulk fleet away from spot on to time charters. But together with our contracted revenue of $2.2 billion, provides an enduring platform with significant upside potential. In concluding, the tanker market continues to remain challenged, following reduced crude and product demand associated with COVID restraints. Yes, we have put out some details also in our press release today. From a shipping perspective, building for resilience translates into more ton miles as things are duplicated,. Angeliki Frangou Net Worth Her net worth has been growing significantly in 2020-2021. Next, Mr. Desypris will give an overview of Navios Partners segment data. During Q3 NMM generated $228 million in revenue and $145.2 million in adjusted EBITDA and $162.1 million in net income. Turning to Slide 12, you can see some fleet and debt updates. 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. hen she referred to the Russian invasion of Ukraine and emphasized that the consequences of this war and the related sanctions are accelerating inflation and rising interest rates. For the fourth quarter, Navios Partners reported revenue of $69.2 million and adjusted EBITDA of $35.5 million. I have no business relationship with any company whose stock is mentioned in this article. Ms. Frangou has also been the Chairwoman and Chief Executive Officer of Navios Maritime Holdings Inc. (NYSE: NM). That said, I would still expect Ms. Frangou to reunite both companies at an opportune time in order to grab a very substantial stake in Navios Partners as laid out in detail in my previous article. A London High Court trial is under way in a complex dispute between Greek shipowner Angeliki Frangou and her brother, John Frangos. We are going to acquire 3 Janpanese fleet mid-sized vessels contracted under 15 gigabits of instruction. But we have the luxuries. In addition, Russia and Ukraine account for about one third of the global wheat supply and 186.7 million tons of seaborne coal. 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. At this point, I would like to turn the call over to Mr. Stratos Desypris, Navios Partners' CFO, who will take you through the results of the Fourth Quarter and Full Year of 2020. Angeliki Frangou forced Navios Maritime Holdings' preferred shareholders into a "prisoner's dilemma" in an attempt to push them out and fatten her own bank account, a lawsuit alleges. For more information about Navios Holdings please visit our website: www.navios.com. Turning to Slide 20. So, basically what we want to see is number one, this market drybulk to materialize, which we are bullish about it. Chinese steel production surpassed the 1-billion tons mark in 2020. convertible debentures (the "Convertible Debentures"). Our fleet consists of 49 dry bulk vessels and 26 Containerships. The vessel we expected to be delivered in the second half of 2022. 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. Our merger with Navios Maritime Containers was approved and is expected to close on March 31, 2021. Meanwhile, she launched Navios Maritime Containers with a listing on the Norwegian over-the-counter market, followed up by a 2018 listing in New York, building up a fleet of 29 . Fleet utilization was approximately 99%. The financial potency of this combination can be measured through the pro forma combined results of 2020. We are a premier dry cargo shipping platform with about $900 million of contracted revenue. I am mostly a trader engaging in both long and short bets intraday and occasionally over the short- to medium term. The Convertible Debentures have a term of five years and bear interest of 4% PIK payable at maturity, if not earlier converted. 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. Navios is a socially conscious group with core values include diversity, inclusion, and safety. So this portfolio in order to be kept on the same age below industry average, and create, you will always have a 10, 15 vessel. Sometimes it's in newbuildings, sometimes it's in secondhand vessels in different sectors. 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. As a result, the balance sheet of Navios Acquisition together with the respective purchase price allocation adjustments are included in Navios Partners balance sheet as at the end of the quarter. And this is something that actually has benefited quite significant on these market, especially on the container. It doesn't indicate, now on actual investment, we just completed a $1 billion investment, 45 vessels in the tanker segment. New York-listed bulker owner Navios Maritime Holdings has room to lower debt further after a very profitable fourth quarter. Cash and cash equivalents were $141 million. Bank accounts of leading Greek shipowner Angeliki Frangou have been frozen by Greek judicial authorities investigating lending by Marfin Bank, which is now under the control of Piraeus Bank,. But one of the things I'll say is that, we see visibility on chartering - the demand for charters, if I answer your question. Angeliki Frangou - Chairman and Chief Executive Officer Stratos Desypris - Chief Financial Officer George Achniotis - Executive President-Business Development Conference Call Participants Chris. The nominal GDP today is exponentially higher than compared to the nominal GDP of 50 years ago. 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. Click to read the full policy [+]. Big picture just, you should understand that all the inefficiency is net positive for our business. 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. 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. 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. The net book is expected to close on March 31, 2021. EN English Deutsch Franais Espaol Portugus Italiano Romn Nederlands Latina Dansk Svenska Norsk Magyar Bahasa Indonesia Trke Suomi Latvian Lithuanian esk Unknown We have capitalized on the strength of the Container Ship market and fixed almost 90% of our available container days for 2021, enjoying healthy rates. And then you mentioned the word replacement, right. I'll turn the call back over to Angeliki for any closing remarks. So this is a net benefit, the inefficiency. How Angeliki Frangou became the leading Greek shipping . Please turn to Slide 5. In addition, I am having a close eye on the still nascent fuel cell industry.I am located in Germany and have worked quite some time as an auditor for PricewaterhouseCoopers before becoming a daytrader almost 20 years ago. At Navios, the pandemic galvanized us. Next, Ms. Tsironi will give an overview of Navios Partners financial results. 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. More specifically, we have contracted our six newbuilding containerships delivering in 2023 and 2024 for five years at an average rate of $37,050 net per day generating about $420 million of contracted revenue. On October 15, 2021 we completed a transformative merger with Navios Acquisition. For the full year of 2020, Navios Partners reported revenue of $226.8 million and adjusted EBITDA of $99.8 million. During this time, I managed to successfully maneuver the burst of the dotcom bubble and the aftermath of the world trade center attacks as well as the subprime crisis.Despite not being a native speaker, I always try to deliver high quality research at no charge to followers and the entire Seeking Alpha community. As Angeliki mentioned, earlier the merger with Navios Acquisition was completed on October 15, 2021. Basically, I mean, we see a lot of value on both segments. The graph on the left shows that for '21, we have to demand for the 3 major cargoes of iron ore, coal and grain is focused on increased by over 3% compared to 2020. We have finalized an additional $58 million loan, which will be used to finance the acquisition of 2 vessels and refinance an existing facility. As previously mentioned, stimulus measures have caused recovery of consumption in the advanced economies. 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. Service was accepted by Israel David. I think the sales of the older ones will slowly reduce that or I guess keep it relatively young. Moving from strength to strength in our drybulk segment, we continue to benefit from a strong spot market with 87% of our 2022 available days exposed to market rate and we remain positioned to fix vessels on attractive period charters are available. In terms of future prospects, Angeliki Frangou remains optimistic but wished she felt that way for different reasons. This completes our quarterly result for NMM. The proceeds of these new financing agreements together with available cash will be used to repay all outstanding Ship Mortgage Notes and redeem an additional $50.0 million of Senior Secured Notes (after which $105.0 million will remain outstanding). Demand is forecast to outpace net sales growth in both 2021 and '22. The net result is that we should have more predictable entity level return. 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. Trial in London this week will aim to settle the siblings' complicated business arrangements. The transaction based scale through a larger diversified asset base with an increased earning capacity. New York-listed Navios Maritime Holdings vows to fight, claiming it was vindicated in similar lawsuit. Building us a significant base of collateral value. Navios Maritime Partners L.P. (NYSE:NMM) Q3 2021 Earnings Conference Call November 10, 2021 8:30 AM ET, George Achniotis - EVP, Business Development. 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. We are not shy of actually fixing it. First Navios Maritime suit ended with revised offer. For the full year of 2020, Navios Partners reported revenue of $226.8 million and adjusted EBITDA of $99.8 million. We have very strong corporate governance and clear code of ethics. Churchs Annual Stewardship & Mistletoe Gala. And then now that, obviously, the dry bulk and containership markets are both extremely strong. I guess, first, for the vessel sales and purchases, it seems like you're obviously adding some dry bulk exposure while shedding some containership exposure. In just the last month, sub trade time charter rates have hit 10-year highs in what is normally a seasonal low period. Please turn to Slide 21 focusing on the container industry. Other than envisioned by me, the Navios Group's largest and financially strongest publicly-listed entity, Navios Maritime Partners (NYSE:NMM) or "Navios Partners" won't be part of the bail-out, at least not at this time. We show some vessels that were older and smaller to more commercially attractive vessels. Vessels over 20 years of age are about 8.6% of the total fleet, which compares favorably with the historically low orderbook. Moreover, the large asset base will provide the entity a significant parcel of collateral value. We have historically low break-even gives us on a 47,000 days. Now 30,000 is a very good level. So basically we can fix and you have seen in the container segment we fix multi-year contracts. Now I will review the safe harbor statement. In this process, we have been pioneering and are adopting certain environmental regulations up to 2 years in advance. 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. 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. Moving to the earnings highlight in Slide 13. Even this metric somewhat understates the opportunity as the underlying rate market for year-to-date in 2021 is materially higher than it was on the average for 2020. 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. The container segment began strengthening in the third quarter of 2020, while the dry bulk market become turning in 2021. You may now disconnect. Please turn to Slide 23. His daughter. NMM is well positioned to benefit from the different sector fundamentals. 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. We agreed to acquire 6 dry bulk vessels with an average age of approximately 2 years. Over the PIK Period, I would estimate the amount of Convertible Debentures held by NSM to increase to almost $100 million, sufficient for Angeliki Frangou to regain full control of Navios Maritime Holdings. About one-third of our fleet will be in each of the dry . Our cash balance was $141.2 million as of September 30, and we have 28.3% in net LTV. To access the webcast, please go to the Investors section of Navios Partners' website at www.navios-nlt.com. I now pass the call to George Achniotis, Executive Vice President of Business Development to discuss the industry section. Partners financial results. 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. You may disconnect at any time. But I'm talking about as a portfolio, you'd like to keep an age profile characteristics somehow on a certain level. Thank you, Angeliki, and good morning. Okay. So this is something that we are focusing very much. Is this happening to you frequently? 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. As CFI box rates have climbed 222% from April 2020 to March '21, spread by the earlier start of the Chinese equality and from continuing demand for consumables and pandemic related supplies worldwide. What will it take to increase the distribution? 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. Thank you, Doris, and good morning to all of you joining us on today's call. On a combined basis, about 1/3 of our available days are open or interest team providing market exposure to capture market upside. 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.