So a few questions around this. The battle follows four legal notices filed by Frangos in. Thank you. CHARTERING OFFICER/MANAGER GAS CARRIERS/TANKERS, Panamax Chartering Manager, Chartering Broker. 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. You have this low break-even, 2,400, historically the lowest. The information set forth herein should be understood in light of such risks. What does the liquidity look like across the one year to three year time-frame? A couple of questions. In Slide 11, you can see the strength and stability of our balance sheet. Even with the increase in new building orders, demand is forecast to outpace net fleet growth in both 2021 and '22. In just the last month, sub trade time charter rates have hit 10-year highs in what is normally a seasonal low period. Next, Ms. Tsironi will give an overview of Navios Partners financial results. I will briefly discuss on key balance sheet data as of December 31, 2020. 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. 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. I think a low leverage is a big driver to our model. 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. We don't have much information about She's past relationship and any previous engaged. Please move to Slide 9 which provide some selected segment data. 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 . Angeliki Frangou has been the Chairman and Chief Executive Officer of Navios Maritime Holdings Inc. (NYSE: NM) since August 25, 2005. I will briefly review our unaudited financial results for the third quarter and nine months ended September 30, 2021. This will be a transformative transaction for Navios Partners and will carry the significant benefits of diversification. We consolidated our separate activities in dry bulk and in containers and in tanker under one roof. Navios Partners controls 142 vessels with balanced exposure to the drybulk, containership and tanker segments. Becky Anderson, one of CNN International's highest profile anchors, interviewed Angeliki Frangou at Navios' offices in Piraeus, Greece to discuss the global rise of the Navios Group of Companies and her career achievements. Service was accepted by Israel David. Sorry I am not a 100% sure on the question, I cannot - it's a little bit hard to hear you. So we need to wait for the drybulk, we enjoy the - we have the luxury because of our balance sheet and a low break-even to really to have the luxury to be open. "In terms of future prospects, I am optimistic but I wish it were for different reasons," she said. 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. Yes, the essence of the diversified fleet. 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. Well, thanks, Angeliki for your comments. Finally, we have very strong corporate covenants at corded efforts. Maritime shipping is the most environmental friendly means of transportation as it is the most carbon efficient mode of transport. These vessels were acquired for an aggregate purchase price of $370 million. What is unique - what we like about this is vessel is about in the [indiscernible] flexible vessel at 260 meters, very nice dimensions, you can actually take advantage of the point to point transportation that is now developing the difference on the supply chains and from - and all these, you know just in time to just in case. Time charter revenue for the year increased to $226.8 million compared to $219.4 million in 2019. And lastly, we'll open the call to take questions. In Slide 14, you can see the latest update on our fleet. Focus are also for growth in iron ore imports around the world as the effects of the pandemic received. And then now that, obviously, the dry bulk and containership markets are both extremely strong. The average Q3, 2021 time charter equivalent rate achieved per segment was Bulkers, $28,926 per day. But also, would like to also use the excess in deleveraging. Angeliki N. Frangou. 12 Ultra Rich Greeks Who Should Have Bailed Out Greece Themselves How Angeliki Frangou became the leading Greek shipping . 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. We also continued to renew and expand our fleet. Our contracted revenue alone exceeds our total fleet expenses by $12.6 million. Our cash balance was $141.2 million as of September 30, and we have 28.3% in net LTV. Angeliki? Basically, I mean, we see a lot of value on both segments. 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. 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. Turning to Slide 12. So this is a big investment for Q3. 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. EBITDA and net income for the first nine months of 2021 include an $80.8 million gain from equity in net earnings of affiliated companies, a $48 million bargain purchase gain upon obtaining control of Navios Containers and Navios Acquisition, a $30.3 million gain related to the sale of seven of our vessels, and $2.9 million transaction cost in relation to the merger with Navios Acquisition. So, basically what we want to see is number one, this market drybulk to materialize, which we are bullish about it. TradeWinds is part of DN Media Group AS. Just curious there. For simplicity, the discussion of the financial results below exclude the effect of the one-off items listed in this slide. In this process, we have been pioneering and are adopting certain environmental regulations up to 2 years in advance. NAVIOS Group chief executive Angeliki Frangou has told a shipping audience in Athens that she is optimistic about future industry prospects even though shipping can be considered to be at a historic and confusing crossroads. 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. 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 know, it's like as we die. Global grain trade has been growing by 5% CAGR since 2008, mainly driven by Asian demand. In addition, lender Navios Shipmanagement Holdings Corporation or "NSM" received an upfront structuring fee of $24.0 million and an undisclosed amount of accrued interest and prepayments fees also in the form of Convertible Debentures. 2021 2023 Navios South American Logistics Inc. All rights reserved. We'll go next to Omar Nokta, Clarksons Securities. 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. Founder of Maritime Enterprises Management SA, Angeliki N. Frangou is a businessperson who has been at the helm of 14 different companies and currently occupies the position of Chairman at IRF European Finance Investments Ltd., Chairman & Chief Executive Officer at Navios Maritime Partners LP, Chairman & Chief Executive . Yes, no that's fair. 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 benefits of diversification are reflected in recent market activity. We do not see this easing anytime soon, but we are watching it carefully, Angeliki Frangou concluded. 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. Thank you, George. Our market exposure days are calibrated towards drybulk and tanker vessels, while about 88% of our containerships are fixed. LEADERS Interview with Angeliki Frangou, Chairman and Chief Executive We expect to be able to provide more predictable returns to our unitholders despite uneven sector performance. Angeliki Frangou. Our cash balance was at $141.2 million as of September 30, and we have 28.3% in net LTV. Fleet utilization for the fourth quarter of 2020 was almost 100%. The group controls approximately 100 drybulk and tanker vessels transporting products ranging from grains, soy, and iron ore to chemicals and petroleum. 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. I now pass the call to Eri Tsironi, our CFO, which will take you through the financial highlights. Then Mr. Achniotis will provide an operational update and an industry overview. Ms. Frangou has also been the Chairwoman and Chief Executive Officer of Navios Maritime Holdings Inc. (NYSE: NM). You building contracting was down 56% in 2020 compared to '19. Definitely sounds like you have the flexibility across the board with that. So you will see that we are almost 100% fixed on both sides, both in the dry bulk but also the container side. I wrote this article myself, and it expresses my own opinions. Thanks you Angeliki and good morning all. Leverage remains very low and net loan to value is 28.3% in an asset base estimated at over $4.5 billion. So you are actually creating this cash flow when the market is right. What will it take to increase the distribution? For the nine months of 2021 NMM generated $445 million, $269.8 million in adjusted EBITDA and $398.6 million in net income. Angeliki? However, we do not take that for granted. The addition also provides flexibility in our operational and financial strategies as we charter, sell and purchase vessel and obtain debt finance. Cash and cash equivalents was $30.7 million. We have finalized an additional $58 million loan, which will be used to finance the acquisition of 2 vessels and refinance an existing facility. Turning to Slide 25. Such risks are more fully discussed in Navios Partners filings with the Securities and Exchange Commission. This concludes my presentation. I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. We are going to acquire 3 Janpanese fleet mid-sized vessels contracted under 15 gigabits of instruction. Post-merger NMM will have approximately 19.7 million units outstanding. Governments having put in place emergency monetary and fiscal plans to support their economies has kick-started faster than expected recovery in the world economy. We are about two years below industry average. Not only does diversification provide strength but it also brings opportunity. Angeliki Frangou is Chairman/CEO at Navios Maritime Holdings Inc. See Angeliki Frangou's compensation, career history, education, & memberships. I'll turn the call back over to Angeliki for any closing remarks. Navios Maritime: Bail-Out To Result In Frangou Regaining Control 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. Navios Partners does not assume any obligation to update the information contained in this conference call. 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 . All vessels are expected to be delivered in the second half of 2022. The Greek company's chief executive Angeliki Frangou said she was. convertible debentures (the "Convertible Debentures"). 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). 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. Chinese steel production surpassed the 1-billion tons mark in 2020. Please turn to Slide 21 focusing on the container industry. 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. 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. We understood that with over 4,000 sailors at sea, when the phone rang, we had to answer it. Forward-looking statements are statements that are not historical facts. By continuing to use this website, you agree to the use of cookies as set out in our full policy. We use your data to ensure you have a secure and enjoyable user experience when visiting our site. First, Ms. Frangou will offer opening remarks. 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. Second, the war in Ukraine and sanctions on Russia have also introduced supply shocks. 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%. At this point, I would like to turn the call over to Mr. Stratos Desypris, our Chief Operating Officer, that will take you through the segment data. Additionally, we are positioning our dry bulk fleet for what we hope will be a strong balance of 2021. Our merger with Navios Maritime Containers was approved and is expected to close on March 31, 2021. This completes our Q4 results. Thank you. Excellent. And today we fix over four years, and you know with 2.5 times the rate. We stand at the crossroads, perhaps the crossroads of history. Roberts v. Navios Maritime Holdings, Inc. et al But I'm talking about as a portfolio, you'd like to keep an age profile characteristics somehow on a certain level. Vessels over 20 years of age are about 8.6% of the total fleet, which compares favorably with the historically low orderbook. Angeliki Frangou has been Navios Logistics Chairwoman and a Member of the Board of Directors since its inception in December 2007. Through this S&P activities we increased our fleet size and reduced average age for our existing segments. Just wanted to actually ask about how you're thinking about the capital structure from here. We aspire to have zero emissions by 2050. 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. 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. So you will see the effect of the results in April 1 and going forward. Rates in all asset classes rose sharply reflecting surging trade driven by strong demand for both major and minor bulk commodities. Navios has deescalating [indiscernible] options on the vessels starting in year 4 before the charter generation. This conference call could contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about Navios Partners. 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. We have been taking advantage of robust market, NMM has $2.2 billion of contracted revenue. And overall we like to have a low leverage. The increase was mainly due to the 39.3% increase in available days in Q4 2020. So this is something that we are focusing very much. FRANGOU ANGELIKI SC 13D Filing Concerning NNA on 2021-10-15 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. 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. 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 Frangou Net Worth Her net worth has been growing significantly in 2020-2021. These together with near record low orderbook could boost crude and product tanker rates in the near term. Thanks, Angeliki. Please turn to Slide 21. 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). Navios Maritime Partners L.P. (NMM) CEO Angeliki Frangou on Q3 2021 But most important is we need to have the right conditions. No, yes, that makes sense. How Angeliki Frangou became the leading Greek shipping 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. 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. Angeliki Frangou Net Worth (2023) | wallmine I would now like to turn the call over to Angeliki for her final comments. Lawsuit claims Frangou and board sought to push out shareholders It can be accessed online at: http://edition.cnn.com/video/#/video/business/2013/02/26/leading-women-angeliki-frangou-daniela-mercury.cnn. 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. As a result we fixed 88.1% of our available containership days for 2022 and have $1.6 billion in total contracted revenue on charters extending through 2030. Angeliki Frangou, the Chairman & Chief Executive Officer of Navios In 2021 we've completed two mergers. In the East China is struggling with its zero Covid strategy.. Conditions are not as favorable elsewhere. About 91% of our debt is covered by the scrap value of our vessels alone. If we find opportunities, we can always expand. Read more about DN Media Group here. Is this a view on those respective markets? We aspire to have zero emissions by 2050. People seem to have concluded that you cannot reliably provide goods if the system has a single point of failure. Angeliki Frangou biography. Year-to-date scrapping has totaled 3.4 million tons, which is on pace for March 2020. The approved merger with Navios Container is expected to close on March 31. 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"). I think the number one is that, what we see is a good positioning on the company. 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. 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. We have arranged the new facility of $72.7 million for the refinancing of three existing facilities with short and medium term durations. Navios Maritime Holdings: Near-Term Debt Maturities Unlikely To Be An Overall our diversified platform should provide flexibility, allowing us to capitalize across segment opportunities. Adjusted net income for 2020 amounted to $12.8 million. This increase in demand has led to a decline in OECD crude oil inventories, which had fallen below their five year average since February, with the largest decline coming in September as shown on the graph on the lower right. CHARTERING OFFICER/MANAGER GAS CARRIERS/TANKERS, Panamax Chartering Manager, Chartering Broker. Scrapping totaled 16 million tons in 2020, almost doubles the 2019 total. And lastly, we'll open the call to take questions. We believe that this combination offers a stronger, more resilient entity mitigating sector specific cyclicality. 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. Building us a significant base of collateral value. Cash and cash equivalents were $141 million. 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. For 2021 contracted revenue is expected to generate $12.6 million in excess of total fleet expense. The rate for 2021 is the highest in almost 50 years, and it is led by a 7.2% expansion in China, India and developing Asia. Your balance sheets in great shape. Eri? 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.