Stratos? 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. We don't have much information about She's past relationship and any previous engaged. This has led to a change in trading patterns for the containerships, which has resulted in a historic turnaround in rates. 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 use your data to ensure you have a secure and enjoyable user experience when visiting our site. 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. At the same time, but there is increasing industrial production and economic growth in China. 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. 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. Based on yesterday's closing price of Navios Containers units, our investment amounts to over $110 million. The Convertible Debentures have a term of five years and bear interest of 4% PIK payable at maturity, if not earlier converted. 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). Thank you for joining us for Navios Maritime Partners Third Quarter 2021 Earnings Conference Call. How Angeliki Frangou became the leading Greek shipping . Vietnam and other Southeast Asian countries, increased coal imports by 13%. And we have the tanker sector that we are watching as establish. 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. 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. And lastly, we'll open the call to take questions. 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. 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. Part 2 highlights Angeliki Frangou's leadership and the growth of the Navios Group. Year-to-date in 2021 our fleet increased by 163% in terms of number of vessels to 88 net vessel additions. During the quarter ended September 30, 2021 we had 9,027 available days compared to 4,499 days for Q3, 2020. Next, Mr. Desypris will give an overview of Navios Partners segment data. There's always a replacement to give, you know, one of the things that we said from, and I think, Stratos also mentioned, we have an average age. I would now like to turn the call over to Angeliki for her final comments. Angeliki Frangou is Chairman and Chief Executive Officer of Navios Holdings. Going forward, a merger between the company and Navios Maritime Partners is still likely with Ms. Frangou grabbing a large stake in the combined entity. We have a contracted revenue pipeline of about $2.2 billion and about 58% of our 2022 available days are currently exposed to the market. Ladies and gentlemen, this does conclude today's conference call. 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. Thanks you Angeliki and good morning all. Slide 10, details our strong operating free cash flow potential. The large entity will benefit from a simplified capital and an organizational structure, thereby, reducing costs. And overall we like to have a low leverage. Please turn now to Slide 24 for the review of the tanker industry. Thank you. This completes our Q4 results. 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. Angeliki? For more information and how to manage your privacy settings, please refer to our privacy and cookie policies. 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? convertible debentures (the "Convertible Debentures"). About 91% of our debt is covered by the scrap value of our vessels alone. We have arranged the new facility of $72.7 million for the refinancing of three existing facilities with short and medium term durations. 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"). Through this S&P activities we increased our fleet size and reduced average age for our existing segments. 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. The realities we see our service as a growth platform that we're in the right part of the cycle, meaning we see great upside potential with our fleet. I wrote this article myself, and it expresses my own opinions. And to capture the spot market and wait for the period market to come. Navios has deescalating [indiscernible] options on the vessels starting in year 4 before the charter generation. 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. The average combined Q3, 2021 franchise equivalent rate of our vessels increased by 79%, $24,447 per day. TradeWinds is part of DN Media Group AS. Time charter revenue for the year increased to $226.8 million compared to $219.4 million in 2019. Angeliki Frangou (left) is seen with her brother John Frangos in 2012. This completes our quarterly result for NMM. Net loan-to-value is about 28.3% in an asset base estimated at over $4.5 billion. We have been taking advantage of robust market, NMM has $2.2 billion of contracted revenue. Big picture just, you should understand that all the inefficiency is net positive for our business. 2021 dry bulk trade is projected to increase by 3.7%, and further increased by 2.2% in '22. Slide 7 sets forth key strength of the compliance entity. I note that we were able to sell these vessels for a book gain in this excellent market as we manage our rate profile. Over the last five years, around 40% of European natural gas and 27% of European oil was supplied by Russia. This concludes my presentation. Not only does diversification provide strength but it also brings opportunity. 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. 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. Year-to-date we expanded our drybulk fleet by 10 vessels increasing drybulk capacity by 36% and reducing its average age by 18% pre-acquisition calendar does not distract us from our balance sheet. Just curious there. 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. Please disable your ad-blocker and refresh. A London High Court trial is under way in a complex dispute between Greek shipowner Angeliki Frangou and her brother, John Frangos. 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. Long-term borrowings including the current portion net of deferred fees amounted to $1.4 billion. Sure. We have finalized an additional $58 million loan, which will be used to finance the acquisition of 2 vessels and refinance an existing facility. But one of the things I'll say is that, we see visibility on chartering - the demand for charters, if I answer your question. 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. At Navios, the pandemic galvanized us. It is a matter of level, and I want to remind that, and this is something in the back of our mind. It can be accessed online at: http://edition.cnn.com/video/#/video/business/2013/02/19/leading-women-angeliki-frangou-daniela-mercury.cnn. Fleet utilization for the fourth quarter of 2020 was almost 100%. So, how much is Angeliki Frangou worth at the age of 56 years old? So the target is always to bring down the debt and that is to about 20%. Angeliki Frangou is Chairman/CEO at Navios Maritime Holdings Inc. See Angeliki Frangou's compensation, career history, education, & memberships. This resulted in a reduction of interest expense for 2020 by approximately $15 million compared to 2019. We have - we see the potential, but we see - we need to see it materialize. However, the results of Navios Acquisition included in the Q3 Navios Partners results are only for the period from August 26,; through September 30, 2021. The Leading Women with Becky Anderson Series can be viewed online at: http://edition.cnn.com/SPECIALS/leading-women. Then, Mr. Achniotis will provide an operational update and the industry overview. I will briefly review Navios' financial results for the Fourth Quarter and Year Ended December 31, 2020. In just the last month, sub trade time charter rates have hit 10-year highs in what is normally a seasonal low period. We also continued to renew and expand our fleet. 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. Even with the increase in new building orders, demand is forecast to outpace net fleet growth in both 2021 and '22. Thank you, Stratos, and good morning all. We also agreed to sell for vessels having an average age of 13 years for a total sales price of $42.8 million. You know, it's like as we die. We have been taking advantage of robust market. But together with our contracted revenue of $2.2 billion, provides an enduring platform with significant upside potential. We stand at the crossroads, perhaps the crossroads of history. It should be noted that about 73% of the orderbook is for 13,000 TEU vessels or larger. The battle follows four legal notices filed by Frangos in. Turning to Slide 19. And we have seen that, we have $1.6 billion contracted revenue on containers, $2.2 billion overall on the company. 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. Thank you. Scrapping totaled 16 million tons in 2020, almost doubles the 2019 total. The increase was mainly due to the 39.3% increase in available days in Q4 2020. The agenda for today's call is as follows: First, Mr. Frangou will offer opening remarks. I'd like to turn the floor back over to Angeliki Frangou for any closing remarks. Turning to Slide 12. Now I will review the safe harbor statement. Building us a significant base of collateral value. And then I guess on the other hand, any plans for further growth in either of the three sectors that you now have exposure to? Angeliki Frangou has been our Chairwoman and Chief Executive Officer since our inception. You building contracting was down 56% in 2020 compared to '19. She also serves as the Chairman and Chief Executive Officer of Navios Partners L.P. and Navios Maritime Acquisition Corporation. 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. Our Board is composed by majority Independent Directors and Independent Committees that oversee our management and operations. Asian coal imports, which account for over 80% of the world's imports trade, are expected to increase by 4.3% in 2021, following a decline of 6.8% in 2020. Angeliki Frangou (nee Papi) was born in Ikaria in November 1915. . 2021 2023 Navios South American Logistics Inc. All rights reserved. You have a huge fleet, and you have a break-even per open day of 2,460. 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. 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. Additionally, we are positioning our dry bulk fleet for what we hope will be a strong balance of 2021. It can be accessed online at: http://edition.cnn.com/video/#/video/business/2013/02/12/leading-women-angeliki-frangou-navios-shipping.cnn. However, the pandemic broke the logistics chain and basic materials had to be airlifted to combat shortages. Holders of the company's preferred shares (NYSE:NM.PG and NYSE:NM.PH) will have to hope for a Navios Maritime Holdings / Navios Partners merger as otherwise there's no reasonable chance for these securities to recover. Angeliki Frangou - Chairman and Chief Executive Officer Stratos Desypris - Chief Financial Officer George Achniotis - Executive President-Business Development Conference Call Participants Chris. 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. Definitely sounds like you have the flexibility across the board with that. You need to wait and see that market develop. 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. And lastly, we'll open the call to take questions. In addition, Ms. Frangou has been the Chairwoman and Chief Executive Officer of Navios Maritime Partners L.P. (NYSE: NMM), an affiliated limited partnership, since August 2007.Ms. 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. And this is the strategy going forward. And then you mentioned the word replacement, right. 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. 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. What does the liquidity look like across the one year to three year time-frame? According to our Database, She has no children. Got it. Our available days increased by 63% to 20,421, while the average nine month 2021 combined time charter equivalent rate increased by 76% to 20,991. Part 1 of the interview examines Angeliki Frangou's start in business and development of the Navios Group of Companies. Angeliki Frangou has been our Chairwoman and CEO since August 25, 2005. From a shipping perspective, building for resilience translates into more ton miles as things are duplicated,. Long-term borrowings, including the current portion, net of deferred fees amounted to $486.9 million. You may disconnect at any time. I will briefly review our unaudited financial results for the third quarter and nine months ended September 30, 2021. 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. 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. Second, the war in Ukraine and sanctions on Russia have also introduced supply shocks. Through mid-March 2020 21, contracted is down by about 62% compared to the same period last year. We see that it is a different set of fundamentals important. Just trying to understand, if that's actually sort of impacting your operations outside of just sort of the rate impact. We show some vessels that were older and smaller to more commercially attractive vessels. We actively renew and expand our fleet. It's more diversified, you're thinking about basically moving forward with an even lower level of leverage than you have. Net fleet growth is expected to remain low over the next 3 years, as the order book is the lowest or effort. The agenda for today's call is as follows. In Slide 14, you can see the latest update on our fleet. We see good - we see a good market potential, but we have to see it realize. As you can see from the top graph on the space, the IMF expects global GDP to grow by 5.5% in 2021. Of course we also entered into the crude and product tanker segment. So any plans for further asset sales, especially on those older vessels? TradeWinds is part of DN Media Group AS. Illustration of Angeliki Frangou, founder, CEO and chairwoman of Navios Maritime Holdings Inc. On Slide 8, we lay out global GDP growth since 1970. I'll now pass the call to George Achniotis, Executive Vice President of Navios Development, to discuss the [indiscernible]. 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. Food security issues driven by the pandemic as well as increasing broadening demand worldwide. But we have the luxuries.