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. Next, Mr. Desypris, will give an overview of Navios Partner's financial results. Definitely looks well-timed and a good overall return. We also agreed to sell for vessels having an average age of 13 years for a total sales price of $42.8 million. During Q3, Navios Partners recorded revenue of $228 million, adjusted EBITDA of $145.2 million and net income of $162.1 million. Ms. Frangou has also been the Chairwoman and Chief Executive Officer of Navios Maritime Holdings Inc. (NYSE: NM). Definitely sounds like you have the flexibility across the board with that. 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. And NMM already has more than that contracted for 2021. This does conclude today's program. CHARTERING OFFICER/MANAGER GAS CARRIERS/TANKERS, Panamax Chartering Manager, Chartering Broker. The entity will have an enhanced credit profile through increased cash flow supporting deleveraging as well as growth. As a result, we re-imagined the modern shipping company. About 91% of our debt is covered by the scrap value of our vessels alone. Yes, the essence of the diversified fleet. Greek 'bride' celebrates her 103rd birthday in Australia I am not receiving compensation for it (other than from Seeking Alpha). 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. Thank you for joining us for Navios Maritime Partners' Fourth Quarter and Full Year 2020 Earnings Conference Call. 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. Ms. Frangou received a bachelors degree in mechanical engineering, summa cum laude, from Fairleigh Dickinson University and a masters degree in mechanical engineering from Columbia University. Turning to Slide 12. Angeliki Frangou, Chairwoman and Chief Executive Officer, stated, "We are pleased with this transformative transaction through which we created the largest U.S. publicly-listed shipping company with 15 vessel types diversified across three segments, servicing more than 10 end markets. hen she referred to the Russian invasion of Ukraine and emphasized that the consequences of this war and the related sanctions are accelerating inflation and rising interest rates. 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. 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. We believe the sum is significantly more resilient than the individual parts. 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. We have a large modern diverse fleet of 85 vessels with a total capacity of 7.8 million deadweight tons. Thanks, Angeliki. Navios Maritime Partners L.P. (NMM) CEO Angeliki Frangou on Q3 2021 Adjusted net income for 2020 amounted to $12.8 million. We actively renew and expand our fleet. I will briefly discuss on key balance sheet data as of December 31, 2020. During Q3 NMM generated $228 million in revenue and $145.2 million in adjusted EBITDA and $162.1 million in net income. In 2021 we've completed two mergers. 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. The average Q3, 2021 time charter equivalent rate achieved per segment was Bulkers, $28,926 per day. We don't have much information about She's past relationship and any previous engaged. The increase were mitigated by a 17.4% decrease in the time charter equivalent rate achieved in the fourth quarter of 2020. Please disable your ad-blocker and refresh. Our market exposure days are calibrated towards drybulk and tanker vessels, while about 88% of our containerships are fixed. So this is a big investment for Q3. And this is something we like to give the flexibility of having the Asian leases plus the commercial banks in Europe. $690 million of contracted revenue. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. The move would be a financial windfall for Frangou, who owns 30.6%, TradeWinds is part of DN Media Group. And in terms of those sort of three, are you willing to rank at the moment of those three, which is the most appealing or if one outranks the other two or any sort of color you can give on how you are thinking strategically about whether you decide to pay down debt, pay back shareholders or grow the company. And we always get - we get advantage of this on the long-term period because they need of turner. In addition 10.4% of the fleet is currently 20 years of age or older. Angeliki Frangou. Angeliki Frangou (the "Reporting Person") is a Greek Citizen with a principal business address at 85Akti Miaouli Street, Piraeus, Greece 185 38. Big picture just, you should understand that all the inefficiency is net positive for our business. 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. The increase was mainly due to the 39.3% increase in available days in Q4 2020. Vaccine roll-outs, continued fiscal stimulus and governmental infrastructure projects will continue to support economic growth. I wrote this article myself, and it expresses my own opinions. 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. Importantly, the precent of decrease perhaps understates the impact. Angeliki Frangou has been the Chairman and Chief Executive Officer of Navios Maritime Holdings Inc. (NYSE: NM) since August 25, 2005. The large entity will benefit from a simplified capital and an organizational structure, thereby, reducing costs. And the tanker sector is just coming off - just coming up from a very low point, which was the lowest point in Q3. Navios Maritime: Bail-Out To Result In Frangou Regaining Control However, [indiscernible] quarters along with global oil demand returning to 2019 levels have brought OECD inventories below their 5-year average. In Slide 15, you can see our target strategy for 2021. 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. Thank you. Also - good afternoon and also congratulations on there, your first call here post-merger. Is this happening to you frequently? Angeliki Frangou is Chairman/CEO at Navios Maritime Holdings Inc. See Angeliki Frangou's compensation, career history, education, & memberships. But also, would like to also use the excess in deleveraging. Angeliki Frangou Net Worth Her net worth has been growing significantly in 2020-2021. Angeliki Frangou, Navios Maritime Holdings Inc: Profile and Biography Please disable your ad-blocker and refresh. At the same time, being active in multiple sectors reveals opportunities. Well, thanks, Angeliki for your comments. Cash and cash equivalents were $141 million. Our merger with Navios Maritime Containers was approved and is expected to close on March 31, 2021. 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. 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. 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 can read more about how we handle your information in our privacy policy. Then Mr. Achniotis will provide an operational update and an industry overview. It doesn't indicate, now on actual investment, we just completed a $1 billion investment, 45 vessels in the tanker segment. To access the webcast please go to the Investors section of Navios Maritime Partners website at www.navios-mlp.com. 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 terms of future prospects, Angeliki Frangou remains optimistic but wished she felt that way for different reasons. Notwithstanding this accounting in [indiscernible], economically, our investment has significantly increased in value. You building contracting was down 56% in 2020 compared to '19. convertible debentures (the "Convertible Debentures"). Vessels over 20 years of age are 11.3% of the total fleet, which compares favorably with a low orderbook. And what we are looking is how this investment we did will play. Food security issues driven by the pandemic as well as increasing broadening demand worldwide. NMM is differentiated by its industry-leading scale and diversified sector exposure. Ms. Frangou has also been the Chairwoman and Chief Executive Officer of Navios Maritime Holdings Inc. (NYSE: NM). click here. Please turn to Slide 4. Net debt to book capitalization was 40% at the end of the year. 2021 2023 Navios South American Logistics Inc. All rights reserved. And this is the strategy going forward. Year-to-date in 2021 our fleet increased by 163% in terms of number of vessels to 88 net vessel additions. over to Navios Partners' Chairman and CEO, Mr. Angeliki Frangou. Or is this purely a fleet renewal play? Pro forma for the merger, our company will be 1 of the 10 largest public listed dry cargo fleet. Greek authorities freeze bank accounts belonging to Angeliki Frangrou Please turn to Slide 19. And we always get - we get advantage of this on the long-term period because they need of turner. 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. 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). click here. The result was a combination of the expansion of our fleet and the improved time charter equivalent rate. Angeliki Frangou: A Greek shipping magnate who sails into the wind The information set forth herein should be understood in light of such risks. Angeliki Frangou steers Navios towards emerging economies The full results of operation of Navios Containers will be included in Navios Partners comments commencing April 1, 2021. But on this containership opportunity, how repeatable could you say that deal is? Navios Forcing Investors To Forgo Dividends, Suit Says - Law360 Vessels over 20 years of age are about 8.6% of the total fleet, which compares favorably with the historically low orderbook. The group controls approximately 100 drybulk and tanker vessels transporting products ranging from grains, soy, and iron ore to chemicals and petroleum. Fleet utilization was approximately 99%. Such risks are fully discussed and are described in filings with the Securities and Exchange Commission. 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. We have arranged the new facility of $72.7 million for the refinancing of three existing facilities with short and medium term durations. This conference call could contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about Navios Partners. The complaint, filed in New York federal court last week, charges the Greek shipping magnate and the company's directors with setting up a scheme to get around paying out accrued dividends owed to preferred shareholders, in an effort to pay dividends on common stock. Moving to the 12-month operations. NMM is well positioned to benefit from the different sector fundamentals. You may now disconnect. At Navios, the pandemic galvanized us. 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. 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. Navios' fourth company, Navios South American Logistics Inc., owns and operates the largest independent dry port in the Hidrovia region of South America and one of the largest independent liquid ports in Paraguay. 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. So all these unique things that we see on the supply chain happening, these vessels we think is a good match. 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.