But purely the volatility that we show create, you know, people are still waiting to make an assessment on period. Vessels over 20 years of age are about 8.6% of the total fleet, which compares favorably with the historically low orderbook. In Slide 11, you can see the strength and stability of our balance sheet. Now I turn the call over to Navios Partners, Chairwoman and CEO, Ms. Angeliki Frangou. In Slide 15, you can see our target strategy for 2021. But on this containership opportunity, how repeatable could you say that deal is? If you have an ad-blocker enabled you may be blocked from proceeding. 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 . While also allowing us to leverage each independent sectors fundamentals. For more information and how to manage your privacy settings, please refer to our privacy and cookie policies. Net debt to book capitalization was 40% at the end of the year. 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. Editor's note: US District Judge Mary Ann Vial Lemmon dismissed the litigation against the owners of Mariner Shipyard in April 2010. And then now that, obviously, the dry bulk and containership markets are both extremely strong. And basically by ordering these vessels, you go away from the basic Panamax that used to be the vessel that was designed at that time for passing through Panama Canal, but we saw that had a good life afterwards to something that is particularly great for the necessities of the inter-Asia trade. Thank you for joining us for Navios Maritime Partners Third Quarter 2021 Earnings Conference Call. Thank you, George. 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"). Angeliki Frangou (born 1965) ( Greek: ) is a Greek shipowner. Scrapping totaled 16 million tons in 2020, almost doubles the 2019 total. But most important is we need to have the right conditions. Got it. 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. Thank you, Stratos, and good morning all. Disclosure: 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. So the target is always to bring down the debt and that is to about 20%. Angeliki Frangou Net Worth (2023) | wallmine Navios Partners controls 142 vessels with balanced exposure to the drybulk, containership and tanker segments. The full results of operation of Navios Containers will be included in Navios Partners comments commencing April 1, 2021. We are about two years below industry average. Yes, totally understand the benefits to sort of the market capacity and rates. And it was somewhat opportunistic at the time, they were on a speculative basis I guess or at least orders without charters. But also to, you know, a recovery on the tanker segment. To read more about DN Media Group, I now pass the call to George Achniotis, Executive Vice President of Business Development to discuss the industry section. 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. 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. The increase was mainly due to the 39.3% increase in available days in Q4 2020. Please. I am pleased with our results for the third quarter of 2021. TradeWinds is part of DN Media Group AS. So think about something between five vessels to 10 vessels to a minimum per year you will have to replace, because either this is the way, or you see that vessel may have - may come in to - you see that the potential in 2023 and we have more consumption, for different technological or commercial reasons or CapEx you have to put. 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. 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. So, basically what we want to see is number one, this market drybulk to materialize, which we are bullish about it. As you can see on Slide 4, pro forma for the merger, NMM will have 85 vessels. 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 what we are looking is how this investment we did will play. So, starting off with the merger, your fleet is clearly massive, it's diverse. And you need to be always running the different scenarios. CHARTERING OFFICER/MANAGER GAS CARRIERS/TANKERS, Panamax Chartering Manager, Chartering Broker. The 2020 decrease is mainly attributable to Indian and Chinese imports declining by 13.8%, respectively. We have also chartered out 4,250 TEU containerships for periods between 3.5 years and 4.5 years, generating revenues of approximately $270 million. Turning to Slide 15, you can our ESG initiatives. Sometimes it's in newbuildings, sometimes it's in secondhand vessels in different sectors. We have been taking advantage of robust market, NMM has $2.2 billion of contracted revenue. Demand and restocking is expected to prove demand growth well above net fleet growth, supporting the recent dramatic rising rates. This has led the IMF to increase its 2021 GDP growth projection to 5.5%, the highest in 50 years and 4.2% in '22. 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. Adjusted net income for the quarter amounted to $12.8 million. And also we have to see that target, which we also see a good potential to actually happen. Angeliki? This - the advantage we took on the container vessels gave us a historically low break-even of $2,469 per open day in 2022. Service was accepted by Israel David. And NMM already has more than that contracted for 2021. Containers $22,418 per day, and Tankers $15,066 per day. "In terms of future prospects, I am optimistic but I wish it were for different reasons," she said. Editor's note: US District Judge Mary Ann Vial Lemmon dismissed the litigation against the owners of Mariner Shipyard in April 2010. So, how much is Angeliki Frangou worth at the age of 56 years old? 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. 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. Thanks you Angeliki and good morning all. 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. I'll turn it over. The Convertible Debentures have a term of five years and bear interest of 4% PIK payable at maturity, if not earlier converted. Consequently, they see magnitudes of today's global GDP made to [indiscernible] the economic impact of a particular percentage point growth when compared to 1970. 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. 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. Finally, we have very strong corporate covenants at corded efforts. Just curious there. As previously mentioned, stimulus measures have caused recovery of consumption in the advanced economies. Moreover, the large asset base will provide the entity a significant parcel of collateral value. For the fourth quarter, Navios Partners reported revenue of $69.2 million and adjusted EBITDA of $35.5 million. The pandemic substitution of goods for services is returning to more normal levels; expenditures for travel and entertainment and services generally are skyrocketing. Shipping is always very, very profitable. And that's likely to grow here as we look ahead with the time charters you just announced on the containers. 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. Click to read the full policy [+]. Turning to Slide 19. For more information and how to manage your privacy settings, please refer to our privacy and cookie policies. The pandemic changed everything. Angeliki? All grain production this year will reach a record according to the international gains counting and the USDA. 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. This will be the highest digital rate in the past 50 years. 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. Frangos claims his sister owes his company, First Lines, $1.18m, TradeWinds is part of DN Media Group. The . 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. 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. Please move to Slide 9 which provide some selected segment data. A London High Court trial is under way in a complex dispute between Greek shipowner Angeliki Frangou and her brother, John Frangos. 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? While we are positioned to capture the market upside, through our forward available days, our diversified chartering strategy has enabled to secure a pipeline of over $2.2 billion of contracted revenue. Angeliki Frangou has been Navios Logistics' Chairwoman and a Member of the Board of Directors since its inception in December 2007. Angeliki Frangou has been our Chairwoman and CEO since August 25, 2005. Our merger with Navios Maritime Containers was approved and is expected to close on March 31, 2021. 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. Early life and education [ edit] Will you order those ships and then subsequently contracted them and now you have basically a five year, maybe 5.5 year payback. Thank you. 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 Frangou | Navios Logistics This concludes my presentation, I would now like to turn the call over to Angeliki for her final comments. About a third of our fleet operate in each of the drybulk, containerships and tanker segment. 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! Angeliki Frangou has been the Chairman and Chief Executive Officer of Navios Maritime Holdings Inc. (NYSE: NM) since August 25, 2005. 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. The Greek company's chief executive Angeliki Frangou said she was. You have this low break-even, 2,400, historically the lowest. I think the - you can find one year versus three year, you have basically today discovering hugely. LEADERS Interview with Angeliki Frangou, Chairman and Chief Executive Fortune: Greek Businesswoman Among 25 World's Most Powerful We are a premier dry cargo shipping platform with about $900 million of contracted revenue. The increase were mitigated by a 17.4% decrease in the time charter equivalent rate achieved in the fourth quarter of 2020. First, Ms. Frangou will offer opening remarks. 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. According to our Database, She has no children. Lawsuit claims Frangou and board sought to push out shareholders Currently in our Containership segment, given the continued strength over the market we have been locking in long-term charters. Cash and cash equivalents was $30.7 million. Thank you. I have no business relationship with any company whose stock is mentioned in this article. Slide 6 details our Company highlights. 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. What we have done is that, we have created a fortress balance sheet by chartering the container sector, which is extremely strong. Please turn to Slide 21 focusing on the container industry. Global grain trade has been growing by 5% CAGR since 2008, mainly driven by Asian demand. 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. And this is something that actually has benefited quite significant on these market, especially on the container. Thank you for your participation. To read more about DN Media Group, But together with our contracted revenue of $2.2 billion, provides an enduring platform with significant upside potential. About Navios Maritime Holdings Inc. Navios Maritime Holdings Inc. (NYSE: NM) is a global, vertically integrated seaborne shipping and logistics company focused on the transport and transshipment of drybulk commodities including iron ore, coal and grain. Navios Maritime Partners L.P. (NYSE:NMM) Q3 2021 Earnings Conference Call November 10, 2021 8:30 AM ET, George Achniotis - EVP, Business Development. TradeWinds is part of NHST Global Publications AS and we are responsible for the data that you register with us, and the data we collect when you visit our websites. This will be a transformative transaction for Navios Partners and will carry the significant benefits of diversification. This complete formal presentation and we open the call to questions. in Stamford Chief executive Angeliki Frangou has further grown her stake in Navios Maritime Holdings by converting more bonds into shares as part of a massive refinancing that closed at the. Such risks are more fully discussed in Navios Partners filings with the Securities and Exchange Commission. Vietnam and other Southeast Asian countries, increased coal imports by 13%. 2021 dry bulk trade is projected to increase by 3.7%, and further increased by 2.2% in '22. 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. Widely-respected Fortune magazine included Greek shipowner and businesswoman Angeliki Frangou in the list with the 25 most powerful women in the world for 2014. Turning to Slide 22. For example, global GDP in 2019 equals $88 trillion, almost 30x the global GDP of $2 trillion in 1970. 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. 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. 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. We agreed to acquire 6 dry bulk vessels with an average age of approximately 2 years. Please turn to Slide 5. And then going forward, which subsector would you maybe look to grow? Please disable your ad-blocker and refresh. Such risks are fully discussed and are described in filings with the Securities and Exchange Commission. 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. We actively renew and expand our fleet. Diversification takes advantage of global trade patterns and Slide 8 illustrate this. For the full year of 2020, Navios Partners reported revenue of $226.8 million and adjusted EBITDA of $99.8 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" ). The Leading Women with Becky Anderson Series can be viewed online at: http://edition.cnn.com/SPECIALS/leading-women. It should be noted that about 73% of the orderbook is for 13,000 TEU vessels or larger. My historical focus has been mostly on tech stocks but over the past couple of years I have also started broad coverage of the offshore drilling and supply industry as well as the shipping industry in general (tankers, containers, drybulk). In this limited sphere we are optimistic. The benefits of diversification are reflected in recent market activity. How to pronounce Angeliki Frangou | HowToPronounce.com 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. Navios Forcing Investors To Forgo Dividends, Suit Says - Law360 Please turn to Slide 19. Navios has deescalating [indiscernible] options on the vessels starting in year 4 before the charter generation. On the grain side, global grain trade continues to be supported by an ever-increasing world population. Over the last five years, around 40% of European natural gas and 27% of European oil was supplied by Russia. Its been four years since the last Posidonia. I will briefly review Navios' financial results for the Fourth Quarter and Year Ended December 31, 2020. Navios Maritime Partners L.P. (NMM) CEO Angeliki Frangou on Q4 2020 Another increase in world population, food security issues driven by the pandemic as well as increasing protein demand worldwide continue to support the global grain trade. And do you have a maybe preference there in terms of repurchases or distribution increase? Angeliki Frangou (nee Papi) was born in Ikaria in November 1915. . 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 large entity will benefit from a simplified capital and an organizational structure, thereby, reducing costs. The benefits of diversification are reflected in recent market activity. Now I turn the call over to Navios Partners' Chairman and CEO, Mr. Angeliki Frangou. NMM is well positioned to benefit from the different sector fundamentals. We see that it is a different set of fundamentals important. We operate in three segments, have 15 diversified vessel types, and serve over 10 end market. And we have the tanker sector that we are watching as establish. One of the lowest on record. And the tanker sector is just coming off - just coming up from a very low point, which was the lowest point in Q3. Our balanced exposure across the drybulk, containership and tanker segments allow us to mitigate normal industry cyclicality and leverage fundamentals on offering across all sectors through our chartering and capital allocation and financing strategy. Thank you. So we're creating this with this different two tier financing. The container segment began strengthening in the third quarter of 2020, while the dry bulk market become turning in 2021. As Angeliki mentioned earlier, today, the Navios Containers unitholders approved the measure of Navios Partners. Ladies and gentlemen, this does conclude today's conference call.