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Navios Maritime Partners L.P. (NMM) CEO Angeliki Frangou on Q4 2020 Our merger with Navios Containers increased our containerships by 29 vessels. We'll take the next question from James with Citigroup. Our 2021 contracted revenue exceeded our total fleet expenses by $12.6 million, with more than 1/3 of our available base open and index linked, there is an ample opportunity to provide further free cash flow. The battle follows four legal notices filed by Frangos in. 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. Focus are also for growth in iron ore imports around the world as the effects of the pandemic received. Just trying to understand how you're thinking about the work to be done on that side? If you have an ad-blocker enabled you may be blocked from proceeding. All grain production this year will reach a record according to the international gains counting and the USDA. At this time, I'm showing no further questions. And today we fix over four years, and you know with 2.5 times the rate. Its impossible to know what this all means, she underlined, adding that there are too many potential consequences to digest and analyze. 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. I have no business relationship with any company whose stock is mentioned in this article. On the grain side, global grain trade continues to be supported by an ever-increasing world population. Nikos Fragos and daughter Angeliki Frangou Greek Shipping Awards and TradeWinds Wealth: $192 million (151 million) Industry: Shipping Nikos started Good Faith Shipping Co in 1966. over to Navios Partners' Chairman and CEO, Mr. Angeliki Frangou. 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. So all these unique things that we see on the supply chain happening, these vessels we think is a good match. And to capture the spot market and wait for the period market to come. We use your data to ensure you have a secure and enjoyable user experience when visiting our site. Click to read the full policy [+]. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Got it. Now 30,000 is a very good level. Slide 7 reviews our recent development. And this is something we like to give the flexibility of having the Asian leases plus the commercial banks in Europe. The benefits of diversification are reflected in recent market activity. For containerships, we increased fleet size by 330% and reduced average age by 24%. She is the Chairman, Chief Executive Officer and Director of Navios Maritime Holdings., of Navios Maritime Partners L.P., of Navios Tankers Management Inc. and Navios Maritime Acquisition Corporation. NMM is differentiated by its industry-leading scale and diversified sector exposure. The recently completed merger with Navios Acquisition gave us a strong foothold in this tanker sector with 45 tanker vessels. I will briefly review Navios' financial results for the Fourth Quarter and Year Ended December 31, 2020. 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. 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? Angeliki Frangou, Chairman and CEO of the Navios Group of - Yahoo! Churchs Annual Stewardship & Mistletoe Gala. For 2022 we expect a historically low break-even of $2,459 per open day with 20 - with - our busy acquisition calendar has not distracted us from our balance sheet, we remain disciplined. And overall we like to have a low leverage. A London High Court trial is under way in a complex dispute between Greek shipowner Angeliki Frangou and her brother, John Frangos. Also we have strength and stability in our balance sheet. Please disable your ad-blocker and refresh. That is - there is no one formula to this. Excellent. 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. 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. Fleet utilization was approximately 99%. 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. Shipping is always very, very profitable. You can pay down debt aggressively, you can reward shareholders aggressively and you can actually acquire assets fairly aggressively. We have a large modern diverse fleet of 85 vessels with a total capacity of 7.8 million deadweight tons. On Slide 8, we lay out global GDP growth since 1970. $690 million of contracted revenue. 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. How Angeliki Frangou became the leading Greek shipping To access the webcast please go to the Investors section of Navios Maritime Partners website at www.navios-mlp.com. On Slide 16, you can see with our ESG initiatives. Such risks are more fully discussed in Navios Partners filings with the Securities and Exchange Commission. 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. 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 Holdings and Navios Partners with Ms. Frangou grabbing a large stake in the combined company. 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. Angeliki Frangou Net Worth Her net worth has been growing significantly in 2020-2021. Angeliki Frangou Biography, Age, Height, Husband, Net Worth, Family We agreed to acquire 6 dry bulk vessels with an average age of approximately 2 years. For 2021 contracted revenue is expected to generate $12.6 million in excess of total fleet expense. 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. Celebs Wiki Angeliki Frangou fans also viewed: Daniel David Angeliki Frangou | Management | Navios Maritime Acquisition Corporation The increase was mainly due to the 32.3% increase in available days of 2020. To read more about DN Media Group, convertible debentures (the "Convertible Debentures"). So the target is always to bring down the debt and that is to about 20%. Our office had to remain open. For example, global GDP in 2019 equals $88 trillion, almost 30x the global GDP of $2 trillion in 1970. Food security issues driven by the pandemic as well as increasing broadening demand worldwide. Second, the war in Ukraine and sanctions on Russia have also introduced supply shocks. Navios Maritime Partners L.P. Secures Unitholder Approval and Completes We have finalized an additional $58 million loan, which will be used to finance the acquisition of 2 vessels and refinance an existing facility. About 91% of our debt is covered by the scrap value of our vessels alone. Year-to-date scrapping has totaled 3.4 million tons, which is on pace for March 2020. Angeliki Frangou | Management | Navios Maritime Holdings 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. We have about - commercial banks, about $600 million in Japanese and Chinese leases, which provides us more easier covenant. And some are shown on the chart on the bottom of the slide, we have increased available days by 171% to 47,268 available days. As of September 30, we had a total cash of $141.2 million and borrowings of $1.4 billion. 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. We aspire to have zero emissions by 2050. 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. While also allowing us to leverage each independent sectors fundamentals. And you need to be always running the different scenarios. We expect to be able to provide more predictable returns to our unitholders despite uneven sector performance. You mentioned that you sold the 2006 Panamax, but still have a handful of 2004 and 2005 built vessels. 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. Then Mr. Achniotis will provide an operational update and an industry overview. But on this containership opportunity, how repeatable could you say that deal is? I will briefly review our unaudited financial results for the third quarter and nine months ended September 30, 2021. All vessels are expected to be delivered in the second half of 2022. Turning to Slide 12. We have - we see the potential, but we see - we need to see it materialize. 2021 2023 Navios South American Logistics Inc. All rights reserved. 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 . Currently in our Containership segment, given the continued strength over the market we have been locking in long-term charters. Navios Maritime Partners L.P. (NMM) CEO Angeliki Frangou on Q3 2021 Basically, I mean, we see a lot of value on both segments. Thank you. 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. The current average contracted net rate of the four vessels is approximately $2,600 per day. 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. Despite the pandemic, China set another year record for iron ore imports in 2020 at about 1.15 billion tons which is an increase of 9.4% over '19. The full results of operation of Navios Containers will be included in Navios Partners comments commencing April 1, 2021. 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. Instead, interest payments will have to be made in the form of new, unsecured convertible debentures (the "Convertible Debentures"). First, the pandemic highlighted the weakness of just in time manufacturing. Our cash balance was at $141.2 million as of September 30, and we have 28.3% in net LTV. How to pronounce Angeliki Frangou | HowToPronounce.com Overall, world grain sales increased by 7.7% in 2020 is expected to increase by about 2% in '21. A couple of questions. You can read more about how we handle your information in our privacy policy. That makes sense. In just the last month, sub trade time charter rates have hit 10-year highs in what is normally a seasonal low period. Lastly, we have a strong balance sheet with low leverage. click here. 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. And this is the strategy going forward. Just curious there. 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. Please turn to Slide 19. 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. CHARTERING OFFICER/MANAGER GAS CARRIERS/TANKERS, Panamax Chartering Manager, Chartering Broker. The big thing is about - we're looking at reducing further. 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. Frangos claims his sister owes his company, First Lines, $1.18m, TradeWinds is part of DN Media Group. 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). 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