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. On the S&P, we have sold the 2006 Panamax, Panamax vessel for $14 million. Turning to Slide 25, VLCC net fleet growth is projected at 3.6% for 2021 and only 1.6% for '22. Moreover, Navios optimizes its flexible chartering strategy to leverage on fundamentals across its three sectors and calibrate charter 10 based upon segment opportunity. Meanings for Angeliki Frangou A popular Greek shipowner and Director who served as a Chief Executive Officer of Navios Maritime Holdings. Through this S&P activities we increased our fleet size and reduced average age for our existing segments. 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 . 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. Angeliki Frangou Net Worth Her net worth has been growing significantly in 2020-2021. 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. You mentioned that you sold the 2006 Panamax, but still have a handful of 2004 and 2005 built vessels. Year-to-date in 2021 our fleet increased by 163% in terms of number of vessels to 88 net vessel additions. Slide 7 sets forth key strength of the compliance entity. Building us a significant base of collateral value. 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. Just trying to understand how you're thinking about the work to be done on that side? On October 15, 2021 we completed a transformative merger with Navios Acquisition. 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? Please move to Slide 9 which provide some selected segment data. We are not shy of actually fixing it. At Navios, the pandemic galvanized us. Navios Maritime Partners' (NMM) CEO Angeliki Frangou on - SeekingAlpha It's more diversified, you're thinking about basically moving forward with an even lower level of leverage than you have. Adjusted EBITDA for 2020 amounted to approximately $100 million compared to $120 million 2019. This will be a transformative transaction for Navios Partners and will carry the significant benefits of diversification. 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. 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. Using the client market average time charter rate of $23,549 per day, we believe NMM is well positioned for a strong 2021. 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. I am pleased with the results for the full year and fourth quarter of 2020. 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. The merger is a week away now, right, so congrats on that. Slide 6 goes through recent developments. The . Pro forma for the merger, our company will be 1 of the 10 largest public listed dry cargo fleet. We will be profitable in Q4 as contracted revenue exceeds total expenses by $57 million. 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" ). 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. Navios is a socially conscious group with core values include diversity, inclusion, and safety. Additionally, we have a staggered maturity profile with no significant maturities through 2023. As of September 30, we had a total cash of $141.2 million and borrowings of $1.4 billion. 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. Thank you, Stratos. Maybe just, I know, one final one I did want to ask. During the quarter ended September 30, 2021 we had 9,027 available days compared to 4,499 days for Q3, 2020. 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. So this is a net benefit, the inefficiency. 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. Angeliki Frangou, chief executive of Navios Maritime Holdings, is being sued in New York federal court, alleging she tried to force out preferred shareholders to enrich herself. We stand at the crossroads, perhaps the crossroads of history. Mortgage Notes (the "Ship Mortgage Notes") next month followed by $155 million in 11.25% Senior Secured Notes in August (the "Senior Secured Notes"). It can be accessed online at: http://edition.cnn.com/video/#/video/business/2013/02/19/leading-women-angeliki-frangou-daniela-mercury.cnn. We use cookies in a variety of ways to improve your experience, such as keeping NHST websites reliable and secure, personalising content and ads and to analyse how our sites are being used. And how will you balance that with maybe unit repurchases as you're still trading at a pretty massive discount to NAV. Our 2021 contracted revenue exceeded our total fleet expenses by $12.6 million, with more than 1/3 of our available base open and index linked, there is an ample opportunity to provide further free cash flow. Conclusion, positive demand fundamentals, mainly due to the restart of economic activity around the world, along with reduced fleet availability to support the container shipping industry. 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. If you have an ad-blocker enabled you may be blocked from proceeding. The financial information is included in the press release and is summarized in the slide presentation on the company's website. 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. A London High Court trial is under way in a complex dispute between Greek shipowner Angeliki Frangou and her brother, John Frangos. The holder of the Convertible Debentures will be entitled to vote on an "as converted" basis along with the company's common shareholders. I note that we were able to sell these vessels for a book gain in this excellent market as we manage our rate profile. And we have seen that, we have $1.6 billion contracted revenue on containers, $2.2 billion overall on the company. Partners financial results. This is unique. The benefits of diversification are reflected in recent market activity. For 2021 contracted revenue is expected to generate $12.6 million in excess of total fleet expense. And I did want to also just ask about the containership charters, which I thought were, you know, you ordered thus four plus two shifts, if I recall. Next, Mr. Desypris, will give an overview of Navios Partner's financial results. But on this containership opportunity, how repeatable could you say that deal is? 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. About one-third of our fleet will be in each of the dry . We aspire to have zero emissions by 2050. Angeliki Frangou - Wikipedia Navios Partners controls 142 vessels with balanced exposure to the drybulk, containership and tanker segments. To access the webcast please go to the Investors section of Navios Maritime Partners website at www.navios-mlp.com. Angeliki Frangou has been the Chairman and Chief Executive Officer of Navios Maritime Holdings Inc. (NYSE: NM) since August 25, 2005. As a reminder, this conference call is being webcast. And we always get - we get advantage of this on the long-term period because they need of turner. Please turn to Slide 19. Year-to-date scrapping has totaled 3.4 million tons, which is on pace for March 2020. Add a meaning Wiki content for Angeliki Frangou Angeliki Frangou Add Angeliki Frangou details Phonetic spelling of Angeliki Frangou Add phonetic spelling Synonyms for Angeliki Frangou Add synonyms "In terms of future prospects, I am optimistic but I wish it were for different reasons," she said. 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. It should be noted that about 73% of the orderbook is for 13,000 TEU vessels or larger. Worldwide grain trade has been growing by over 5% CAGR since 2008 mainly driven by Asian demand, which increased by 15% in 2020 and is expected to increase a further 2.9% in '21. Ms. Frangou has also been the Chairwoman and Chief Executive Officer of Navios Maritime Holdings Inc. (NYSE: NM). Ms. Frangou has also been Chairwoman and CEO of Navios Holdings (NYSE: NM) our sponsor since August 2005. Investors should avoid Navios Maritime Holdings' common shares and remain wary of a potential merger with Navios Maritime Partners to the detriment of the partnership's outside common unitholders. We - the announcement we did between the six new buildings that we did for five years and the four other vessels, we did quite significant number of what we say, 600 and $690 million of contracted revenue. But together with our contracted revenue of $2.2 billion, provides an enduring platform with significant upside potential. Turning to Slide 22, fleet growth is expected to be 4.2% this year and 3.8% for '22. Please turn to Slide 18. Thank you. Please. 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. 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. So, on that, what - after these two conditions, we are seeing as a return, a total return to our investor is an important part of our strategy. Adjusted net income for 2020 amounted to $12.8 million. Now 30,000 is a very good level. 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. In addition to the Leading Women Series, Becky Anderson also hosts the network's flagship news and current affairs program Connect the World, which takes viewers on a journey across continents, beyond headlines and into histories of the stories that are changing our world. What will it take to increase the distribution? 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. She is not dating anyone. However, it should be noted that current rates are still above two times the 10-year averages. Big picture just, you should understand that all the inefficiency is net positive for our business. Part 1 of the interview examines Angeliki Frangou's start in business and development of the Navios Group of Companies. Is that a repeatable opportunity you think? We aspire to have zero emissions by 2050. So you will see the effect of the results in April 1 and going forward. Ms. Frangou also spends a significant amount of time cultivating new and existing commercial relationships with financial institutions, industrial partners and shipyards. 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. And that's likely to grow here as we look ahead with the time charters you just announced on the containers. First, the pandemic highlighted the weakness of just in time manufacturing. 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. But the reality is just to go back to your question is, is the following thing, I mean, the capacity of the ship - the shipyard capacities has been full, and also we see that materials maybe going up. From November 1st DN Media Group is responsible for controlling your data on TradeWinds. Angeliki Frangou, Chairman and CEO of the Navios Group of - Yahoo! If everyone dies, it is not anymore existing. Post-merger NMM will have approximately 19.7 million units outstanding. Is this happening to you frequently? 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. We actively renew and expand our fleet. We show some vessels that were older and smaller to more commercially attractive vessels. 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. FRANGOU ANGELIKI SC 13D Filing Concerning NNA on 2021-10-15 Despite the pandemic, China set another year record for iron ore imports in 2020 at about 1.15 billion tons which is an increase of 9.4% over '19. LEADERS Interview with Angeliki Frangou, Chairman and Chief Executive We don't have much information about She's past relationship and any previous engaged. Scrapping totaled 16 million tons in 2020, almost doubles the 2019 total. And we have market exposure of 53.5% of our days for this year. Currently in our Containership segment, given the continued strength over the market we have been locking in long-term charters. The financial potency of this combination can be measured through the pro forma combined results of 2020. This has led the IEA to project Q4, 2021 oil demand to return close to 2019 levels, which is shown on the graph on the lower left. Food security issues driven by the pandemic as well as increasing broadening demand worldwide. Editor's note: US District Judge Mary Ann Vial Lemmon dismissed the litigation against the owners of Mariner Shipyard in April 2010. Importantly, the precent of decrease perhaps understates the impact. Angeliki Frangou. Just trying to understand how the fee through there. Thank you, George. How Angeliki Frangou became the leading Greek shipping Angeliki Frangou (nee Papi) was born in Ikaria in November 1915. . To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. We see good - we see a good market potential, but we have to see it realize. We have been taking advantage of robust market. Total adjusted net income was $130 million compared to $8.8 million for the same period last year. Overall our diversified platform should provide flexibility, allowing us to capitalize across segment opportunities. And then going forward, which subsector would you maybe look to grow? That is - there is no one formula to this. We have majority independent directors and independent committees, not to say our management operations. Click to read the full policy [+]. 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. 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! 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 . 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%. Angeliki Frangou has been Navios Logistics' Chairwoman and a Member of the Board of Directors since its inception in December 2007. Cash and cash equivalents was $30.7 million. And NMM already has more than that contracted for 2021. We also anticipate that diversification and scale should make NMM a more attractive investment platform as we take advantage of global trade patterns. Please turn to Slide 23. Navios Maritime Partners L.P. (NMM) CEO Angeliki Frangou on Q4 2020 Such forward-looking statements are based upon the current beliefs and expectations of Navios Partners management and are subject to risks and uncertainties, which would cause actual results to differ materially from the forward-looking statements. 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. 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. 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. That makes sense. Sometimes it's in newbuildings, sometimes it's in secondhand vessels in different sectors. Our cash balance was at $141.2 million as of September 30, and we have 28.3% in net LTV. Angeliki Frangou is 55, she's been the Chairman of the Board and Chief Executive Officer of Navios Maritime Acquisition Corp since 2008. This completes our formal presentation, and we open the call to questions. And this is something we like to give the flexibility of having the Asian leases plus the commercial banks in Europe. Just to remind you, for your modeling purpose, so just to remind you that Navios containers the full results will be included in our results from first April as the measure is expected to close on March 31. 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. I am pleased with our results for the third quarter of 2021. And then you mentioned the word replacement, right. Global grain trade has been growing by 5% CAGR since 2008, mainly driven by Asian demand. Additionally, we are positioning our dry bulk fleet for what we hope will be a strong balance of 2021. To date, the Navios Group has paid about $535.8 million in uninterrupted dividends since the first public listing of Navios Maritime Holdings in 2005. We believe that the overall tanker orderbook and fleet are well-balanced as the IMO 2023 and ballast water management regulations will lead to some vessel retirements in the coming months. We did see one thing that we showed as a great opportunity on the container segment, we show that the smaller vessels and this is a widebody, the 5,500 TEU. So this is a big investment for Q3. Slide 13 shows the details of our combined fleet, giving effect of the merger of Navios Containers. I am not receiving compensation for it (other than from Seeking Alpha). Thank you. But purely the volatility that we show create, you know, people are still waiting to make an assessment on period. 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. Angeliki Frangou (the "Reporting Person") is a Greek Citizen with a principal business address at 85Akti Miaouli Street, Piraeus, Greece 185 38. You'll see the webcast link in the middle of the page and a copy of the presentation referenced in today's earnings conference call will also be found there. Celebs Wiki Angeliki Frangou fans also viewed: Daniel David The battle follows four legal notices filed by Frangos in. Had the merger been effective for 2020, the pro forma revenue would have been $354 million. However, [indiscernible] quarters along with global oil demand returning to 2019 levels have brought OECD inventories below their 5-year average. Navios Maritime Partners' (NMM) CEO Angeliki Frangou on - SeekingAlpha It can be accessed online at: http://edition.cnn.com/video/#/video/business/2013/02/26/leading-women-angeliki-frangou-daniela-mercury.cnn. quarter of 2020. Angeliki Frangou (left) is seen with her brother John Frangos in 2012. So this is something that we are focusing very much. Next, Ms. Tsironi will give an overview of Navios Partners financial results. We have arranged the new facility of $72.7 million for the refinancing of three existing facilities with short and medium term durations. Thank you, Doris, and good morning to all of you joining us on today's call. And lastly, we'll open the call to take questions. She also serves as the Chairman and Chief Executive Officer of Navios Partners L.P. and Navios Maritime Acquisition Corporation. Angeliki Frangou has been Navios Logistics Chairwoman and a Member of the Board of Directors since its inception in December 2007. 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. I will briefly review our unaudited financial results for the third quarter and nine months ended September 30, 2021. We remain disciplined. 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. But also, would like to also use the excess in deleveraging. And lastly, we'll open the call to take questions. This factor stimulus has led to historic turnaround in global container trade. You know, it's like as we die. Will you order those ships and then subsequently contracted them and now you have basically a five year, maybe 5.5 year payback. We use your data to ensure you have a secure and enjoyable user experience when visiting our site. 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. Thereby accumulating significant scale in a short period of time. One of the lowest on record. 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. 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. Turning to Slide 14, I will briefly discuss some key balance sheet data as of September 30, 2021. Our cash balance was $141.2 million as of September 30, and we have 28.3% in net LTV. This completes our Q4 results. When talking about ESG, I think it's important to remind people that Transocean exiting is the most environmentally friendly means of transportation as it is the most carbon efficient mobile transport. In addition, Russia and Ukraine account for about one third of the global wheat supply and 186.7 million tons of seaborne coal. Terms of the bail-out package will likely result in Ms. Frangou regaining full control of Navios Maritime Holdings. The average Q3, 2021 time charter equivalent rate achieved per segment was Bulkers, $28,926 per day. Okay. Moving to the first nine month 2021 period, time charter revenue reached $445 million compared to $158 million in 2020. Now I will review the safe harbor statement. The decrease is primarily due to a $25.5 million increase in vessel operating expenses, mainly due to the increased split, a $3 million increase in general revenue of tax expenses, mainly due to the increased fleet and a $1.4 million decrease in equity net earnings of affiliate companies. And then separately, can you just share generally the front and center. over to Navios Partners' Chairman and CEO, Mr. Angeliki Frangou. $690 million of contracted revenue. And we have the tanker sector that we are watching as establish. We have fixed 10 of our containerships for long durations, creating approximately $690 million in contracted revenue. The remaining 34% of available base that are open all on indexing chargers provided with more upside. Part 2 highlights Angeliki Frangou's leadership and the growth of the Navios Group. We have finalized an additional $58 million loan, which will be used to finance the acquisition of 2 vessels and refinance an existing facility. This does conclude today's program. As you can see from the top graph on the space, the IMF expects global GDP to grow by 5.5% in 2021. Thank you, Stratos, and good morning all. 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. With the help of a strong second half 2020 ended the year with a BDI averaging 1,066. The container segment began strengthening in the third quarter of 2020, while the dry bulk market become turning in 2021. Thank you, George. TradeWinds is part of DN Media Group AS. We agreed to acquire 6 dry bulk vessels with an average age of approximately 2 years. Please turn to Slide 17 for the review of the drybulk industry. Today NMM is one of the largest U.S. publicly listed shipping companies with 15 vessel types diversified across three segment and servicing more than 10 end markets. Both related-party loans have a term of four years and won't require cash interest or amortization payments for an initial 18-month period (the "PIK Period"). Eri? 20 Angeliki Frangou, Navios :: Lloyd's List On a combined basis, about 1/3 of our available days are open or interest team providing market exposure to capture market upside. Or is this purely a fleet renewal play? Actually, what we are doing is repositioning a fleet. Angeliki? 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.