The floor is now open for questions. In the East China is struggling with its zero Covid strategy.. 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. The Leading Women with Becky Anderson Series can be viewed online at: http://edition.cnn.com/SPECIALS/leading-women. Shipping is always very, very profitable. Adjusted net income for the quarter amounted to $12.8 million. The increase were mitigated by a 17.4% decrease in the time charter equivalent rate achieved in the fourth quarter of 2020. Now is the important or something like an unsecured pieces that might make sense, something that basically might be a little bit more permanent piece of the capital. So this is something that we are focusing very much. NMM has an enhanced base to generate free cash flow. 2021 drybulk trade is projected to increase by 4.5% and further increase by 2.9% in '22. Vaccine roll-outs, continued fiscal stimulus and governmental infrastructure projects will continue to support economic growth. Thank you, Daniella, and good morning to all of you joining us on today's call. We'll go next to Omar Nokta, Clarksons Securities. And that's likely to grow here as we look ahead with the time charters you just announced on the containers. Investors should avoid Navios Maritime Holdings' common shares and remain wary of a potential future merger with Navios Partners to the detriment of the partnership's outside common unitholders. 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. We have capitalized on the strength of the Container Ship market and fixed almost 90% of our available container days for 2021, enjoying healthy rates. 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. Net debt to book capitalization was 40% at the end of the year. No, yes, that makes sense. 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. Angeliki? Thank you for your participation. On Slide 16, you can see with our ESG initiatives. Its impossible to know what this all means, she underlined, adding that there are too many potential consequences to digest and analyze. 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. Angeliki Frangou (nee Papi) was born in Ikaria in November 1915. . Is this happening to you frequently? We believe the sum is significantly more resilient than the individual parts. Lawsuit claims Frangou and board sought to push out shareholders The average combined Q3, 2021 franchise equivalent rate of our vessels increased by 79%, $24,447 per day. Frangou has been the Chairwoman of the Board of Directors of Navios South American Logistics Inc. since its inception in December 2007. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Then Mr. Achniotis will provide an operational update and an industry overview. It should be noted that about 73% of the orderbook is for 13,000 TEU vessels or larger. Angeliki Frangou (the "Reporting Person") is a Greek Citizen with a principal business address at 85Akti Miaouli Street, Piraeus, Greece 185 38. Angeliki Frangou - Wikipedia 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. For 2021 contracted revenue is expected to generate $12.6 million in excess of total fleet expense. In Slide 15, you can see our target strategy for 2021. Such risks are more fully discussed in Navios Partners filings with the Securities and Exchange Commission. 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. Vietnam and other Southeast Asian countries, increased coal imports by 13%. And then you mentioned the word replacement, right. A London High Court trial is under way in a complex dispute between Greek shipowner Angeliki Frangou and her brother, John Frangos. Thank you, Angeliki, and good morning. 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. Angeliki Frangou Net Worth (2023) | wallmine The transaction based scale through a larger diversified asset base with an increased earning capacity. Angeliki Frangou Net Worth (2023) | wallmine The agenda for today's call is as follows: First, Mr. Frangou will offer opening remarks. As you can see in the blue box on the lower right, increases in demand for goods, port congestion and restocking will lead to container demand growth of 6.3% in 2021, and 3.9% in '22. Angeliki Frangou - Chairman and Chief Executive Officer Stratos Desypris - Chief Financial Officer George Achniotis - Executive President-Business Development Conference Call Participants Chris. Thank you for joining us for Navios Maritime Partners Third Quarter 2021 Earnings Conference Call. 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. I'm also proud to be working with the social countries group whose core values include diversity in [indiscernible] and safety. Also we have strength and stability in our balance sheet. The merger is a week away now, right, so congrats on that. I am mostly a trader engaging in both long and short bets intraday and occasionally over the short- to medium term. 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. 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). 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! Please turn to Slide 4. This increase reflects surging trades, driven by strong demand for both major and minor bulk commodities. I think that will give us a long-term view on the right. Angeliki Frangou has been our Chairwoman and Chief Executive Officer since our inception. 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. So what you should expect from us is a replacement of assets, the new and of fleet, which is part of our ongoing process and strong cash generation with a deleveraging effect. As I mentioned previously, Navios Partners is one of the largest U.S. publicly listed companies with over 140 vessels. I would now like to turn the call over to Angeliki for her final comments. At this time, I'm showing no further questions. Your balance sheets in great shape. What will it take to increase the distribution? 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. On a combined basis, about 1/3 of our available days are open or interest team providing market exposure to capture market upside. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. New York-listed Navios Maritime Holdings vows to fight, claiming it was vindicated in similar lawsuit. Diversification takes advantage of global trade patterns and Slide 8 illustrate this. 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. We don't have much information about She's past relationship and any previous engaged. Turn to Slide 18. The increase was mainly due to the 39.3% increase in available days in Q4 2020. At Navios, the pandemic galvanized us. 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 Angeliki Frangou. 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. 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. We expect to be able to provide more predictable returns to our unitholders despite uneven sector performance. 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 . We'll take the next question from James with Citigroup. Then Mr. Achniotis will provide an operational update and an industry overview. Yes, thank you. In addition, Russia and Ukraine account for about one third of the global wheat supply and 186.7 million tons of seaborne coal. $690 million of contracted revenue. The container segment began strengthening in the third quarter of 2020, while the dry bulk market become turning in 2021. Ms. Frangou has also been the Chairwoman and Chief Executive Officer of Navios Maritime Holdings Inc. (NYSE: NM). We agreed to acquire 6 dry bulk vessels with an average age of approximately 2 years. This would lead to a pickup in scrapping in 2022 and high scrapping prices combined with IMO 2023 CO2 reduction rules may induce a portion of the overage fleet to scrap. But on this containership opportunity, how repeatable could you say that deal is? Vessels over 20 years of age are about 8.6% of the total fleet, which compares favorably with the historically low orderbook. 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. Angeliki N. Frangou. Angeliki Frangou has been the Chairman and Chief Executive Officer of Navios Maritime Holdings Inc. (NYSE: NM) since August 25, 2005. But we have the luxuries. And lastly, we'll open the call to take questions. And then now that, obviously, the dry bulk and containership markets are both extremely strong. The benefits of diversification are reflected in recent market activity. Thanks you Angeliki and good morning all. Editor's note: US District Judge Mary Ann Vial Lemmon dismissed the litigation against the owners of Mariner Shipyard in April 2010. 20 Angeliki Frangou, Navios :: Lloyd's List First Navios Maritime suit ended with revised offer. 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. For example, global GDP in 2019 equals $88 trillion, almost 30x the global GDP of $2 trillion in 1970. So this is a net benefit, the inefficiency. People seem to have concluded that you cannot reliably provide goods if the system has a single point of failure. The information set forth herein should be understood in light of such risks. This completes our quarterly result for NMM. The diversification allows us to balance a chartered strategy across different business segments, optimizing the profit potential with cash flow certainty. The event was held during . So, basically what we want to see is number one, this market drybulk to materialize, which we are bullish about it. Angeliki Frangou has been Navios Logistics' Chairwoman and a Member of the Board of Directors since its inception in December 2007. 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. We also agreed to sell for vessels having an average age of 13 years for a total sales price of $42.8 million. You'll see the webcasting 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. The large entity will benefit from a simplified capital and an organizational structure, thereby, reducing costs. Sorry I am not a 100% sure on the question, I cannot - it's a little bit hard to hear you. However, we do not take that for granted. Building us a significant base of collateral value. Europe's imports are expected to grow at 15% on and Asia, excluding China, is expected to import 9% more iron ore in '21 than in 2020. 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. As shown on Slide 5, 2021 has been a transformational year as we expanded in new 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. 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. 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. This resulted in a reduction of interest expense for 2020 by approximately $15 million compared to 2019. 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. As a result, we re-imagined the modern shipping company. Angeliki? 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? Our office had to remain open. For the fourth quarter, Navios Partners reported revenue of $69.2 million and adjusted EBITDA of $35.5 million. During Q3 NMM generated $228 million in revenue and $145.2 million in adjusted EBITDA and $162.1 million in net income. The Greek company's chief executive Angeliki Frangou said she was. Thank you. This will be the highest digital rate in the past 50 years. 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. 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 . How Angeliki Frangou became the leading Greek shipping CHARTERING OFFICER/MANAGER GAS CARRIERS/TANKERS, Panamax Chartering Manager, Chartering Broker. 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. In the long run, she adder, Navios people believe that their re-imagined business will provide reasonably stable returns as the financial results of stronger sectors offset the financial results of sectors performing less well. Navios uses cookies on this website. 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. Navios Maritime Partners L.P. Secures Unitholder Approval and Completes Notwithstanding this accounting in [indiscernible], economically, our investment has significantly increased in value. 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. In addition, Ms. Frangou has been the Chairwoman and Chief Executive Officer of Navios Partners (NYSE: NMM), an affiliated limited partnership, since August 2007. 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. But also, would like to also use the excess in deleveraging. Moving to the 12-month operations. We have - we see the potential, but we see - we need to see it materialize. Now I will review the safe harbor statement. To access the webcast please go to the Investors section of Navios Maritime Partners website at www.navios-mlp.com. From November 1st DN Media Group is responsible for controlling your data on TradeWinds. Post-merger NMM will have approximately 19.7 million units outstanding. We are not shy of actually fixing it. 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 . We agreed to acquire 2 2012 bill oil gas vessels or approximately $59.3 million. Just wanted to actually ask about how you're thinking about the capital structure from here. The entity will have an enhanced credit profile through increased cash flow supporting deleveraging as well as growth. 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. Yes, we have put out some details also in our press release today. The pandemic substitution of goods for services is returning to more normal levels; expenditures for travel and entertainment and services generally are skyrocketing. 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. We believe that this combination offers a stronger, more resilient entity mitigating sector specific cyclicality. From a shipping perspective, building for resilience translates into more ton miles as things are duplicated,. "In terms of future prospects, I am optimistic but I wish it were for different reasons," she said. Such risks are fully discussed and are described in filings with the Securities and Exchange Commission. Fleet utilization for the fourth quarter of 2020 was almost 100%. Sure. 12 Ultra Rich Greeks Who Should Have Bailed Out Greece Themselves In concluding our drybulk sector review, demand is forecast to outpace net fleet growth in both 2021 and '22, a strong demand for natural resources combined with continuing COVID-related logistical disruptions and a slowing pace of new building deliveries, all support healthy levels of current and future freight rates. Partners financial results. 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. During the quarter ended September 30, 2021 we had 9,027 available days compared to 4,499 days for Q3, 2020. So basically we can fix and you have seen in the container segment we fix multi-year contracts. 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. The increase was mitigated by 20.9% decrease in the Time Charter Equivalent rate achieved in 2020. Slide 6 goes through recent developments. Navios Maritime Partners L.P. (NYSE:NMM) Q4 2020 Earnings Conference Call March 24, 2021 8:30 AM ET, Georgios Achniotis - EVP of Business Development. Thank you for joining us for Navios Maritime Partners' Fourth Quarter and Full Year 2020 Earnings Conference Call. Everything works well, as long as the logistics chain is unchallenged. 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. All right, second question, looking at Slides 11 and 14, clearly showing the strength of your balance sheet, you mentioned earlier in the call, your fixed charter backlog is giving you pretty substantial cash flow visibility, very low spot day break-evens. 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 . So a few questions around this. In this process, we have been pioneering and are adopting certain environmental regulations up to 2 years in advance. 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. We are a premier dry cargo shipping platform with about $900 million of contracted revenue. For the full year of 2020, Navios Partners reported revenue of $226.8 million and adjusted EBITDA of $99.8 million. Navios Maritime Partners L.P. (NMM) CEO Angeliki Frangou on Q3 2021 That is - there is no one formula to this. First COVID stimulus measures have caused a sharp recovery of demand for goods in Western OECD economies as noted on the two lower charts. [Operator Instructions]. Please turn to Slide 21 focusing on the container industry. 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. The battle follows four legal notices filed by Frangos in. CEO and Chairwoman Angeliki Frangou recently disclosed a 40.8% ownership stake on an as-converted basis and indicated her intention to purchase additional common shares for up to $20 million. This - the advantage we took on the container vessels gave us a historically low break-even of $2,469 per open day in 2022. We remain disciplined. 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. This concludes my presentation. 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. You may disconnect at any time. I'll turn it over. 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 sees optimism amid chaos :: Lloyd's List We will be profitable in Q4 as contracted revenue exceeds total expenses by $57 million. 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. 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. We are going to acquire 3 Janpanese fleet mid-sized vessels contracted under 15 gigabits of instruction. And today we fix over four years, and you know with 2.5 times the rate. For more information about Navios Holdings please visit our website: www.navios.com. 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. Forward-looking statements are statements that are not historical facts. Navios Maritime Partners' (NMM) CEO Angeliki Frangou on - SeekingAlpha Angeliki Frangou, Chairman and CEO of the Navios Group of - Yahoo! First, the pandemic highlighted the weakness of just in time manufacturing. Angeliki Frangou Net Worth Her net worth has been growing significantly in 2020-2021. We are 86, which I think is a rather big percentage for our drybulk to be open. 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. More specifically, we have contracted our six newbuilding containerships delivering in 2023 and 2024 for five years at an average rate of $37,050 net per day generating about $420 million of contracted revenue. We see that it is a different set of fundamentals important. 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. 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. These together with near record low orderbook could boost crude and product tanker rates in the near term. Just trying to understand, if that's actually sort of impacting your operations outside of just sort of the rate impact. For the fourth quarter, Navios Partners reported revenue of $69.2 million and adjusted EBITDA of $35.5 million. Just curious there. Slide 10 shows our combined liquidity as of December 31, 2020, we had total cash of $38.3 million and total borrowings of $719 million. Ms. Frangou has also been the Chairwoman and Chief Executive Officer of Navios Maritime Holdings Inc. (NYSE: NM). Here you fix them for the 37,000 a day, which, as I run the numbers, it looks like a 5-year payback, which sounds pretty substantial given these are new buildings. Angeliki? Navios Maritime: Bail-Out To Result In Frangou Regaining Control Leverage remains very low and net loan to value is 28.3% in an asset base estimated at over $4.5 billion.

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