Partners financial results. Our merger with Navios Maritime Containers was approved and is expected to close on March 31, 2021. We understood that with over 4,000 sailors at sea, when the phone rang, we had to answer it. The structure provides for an effective purchase price of $41.5 million and an effective interest rate fixed for a festive period of 4.4%. 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. What we have done is that, we have created a fortress balance sheet by chartering the container sector, which is 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. The BDI average for Q3 was 3,732, the highest quarterly average since 2008. As I mentioned previously, Navios Partners is one of the largest U.S. publicly listed companies with over 140 vessels. The group controls approximately 100 drybulk and tanker vessels transporting products ranging from grains, soy, and iron ore to chemicals and petroleum. The agenda for today's call is as follows. This conference call could contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about Navios Partners. Celebs Wiki Angeliki Frangou fans also viewed: Daniel David Moving to the first nine month 2021 period, time charter revenue reached $445 million compared to $158 million in 2020. If you have an ad-blocker enabled you may be blocked from proceeding. The IMF projects global GDP growth at 5.9% for 2021 and 4.9% for '22. Navios Partners controls 142 vessels with balanced exposure to the drybulk, containership and tanker segments. The large entity will benefit from a simplified capital and an organizational structure, thereby, reducing costs. For containerships, we increased fleet size by 330% and reduced average age by 24%. Accordingly, 2021, net fleet growth is expected at 2.6% and only 0.7% for '22. Our net debt to capitalization is 43.5%, and our debt maturities are targeted through 2030. 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" ). We are also constantly working on refinancing and extending maturities. In addition, Ms. Frangou has been the Chairman and Chief Executive Officer of Navios Maritime Partners L.P. (NYSE: NMM), an affiliated limited partnership, since August 2007, the Chairman and Chief Executive . The agenda for today's call is as follows: First, Mr. Frangou will offer opening remarks. New York-listed bulker owner Navios Maritime Holdings has room to lower debt further after a very profitable fourth quarter. And you don't see the 3-year market developing. This completes our Q4 results. Indeed, in the US, air travel is at 2019 levels, she explained. The average combined Q3, 2021 franchise equivalent rate of our vessels increased by 79%, $24,447 per day. The net book is expected to close on March 31, 2021. We believe that the overall tanker orderbook and fleet are well-balanced as the IMO 2023 and ballast water management regulations will lead to some vessel retirements in the coming months. Angeliki? Editor's note: US District Judge Mary Ann Vial Lemmon dismissed the litigation against the owners of Mariner Shipyard in April 2010. Just curious there. Just trying to understand how the fee through there. And what we are looking is how this investment we did will play. Containership demand growth of 5.7% in 2021 and 3.7% in '22 is expected to exceed supply a pent-up demand for congestion, restocking and increases in consumer demand for goods all support increasing Connie volumes. 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. 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. Read more about DN Media Group here. Navios is a socially conscious group with core values include diversity, inclusion, and safety. So this is something that we are focusing very much. The Leading Women with Becky Anderson Series can be viewed online at: http://edition.cnn.com/SPECIALS/leading-women. And also we have to see that target, which we also see a good potential to actually happen. What does the liquidity look like across the one year to three year time-frame? 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. We are 86, which I think is a rather big percentage for our drybulk to be open. 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. 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. Such risks are more fully discussed in Navios Partners filings with the Securities and Exchange Commission. 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. Furthermore, protocols for contactless operations and repatriations have been created and IT systems were overhauled to facilitate all these. The 2020 decrease is mainly attributable to Indian and Chinese imports declining by 13.8%, respectively. Also we have strength and stability in our balance sheet. Banks take back Hermitage PSV fleet at 62% of outstanding debt, Bottiglieri family removed from historic Italian shipping company. How Angeliki Frangou became the leading Greek shipping . Definitely sounds like you have the flexibility across the board with that. Angeliki Frangou, Navios Maritime Holdings Inc: Profile and Biography 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. Year-to-date in 2021 our fleet increased by 163% in terms of number of vessels to 88 net vessel additions. For simplicity, the discussion of the financial results below exclude the effect of the one-off items listed in this slide. As to our balance sheet update, we are in advanced discussions to finalize a $116 million loan to refinance in upcoming months and upcoming maturities in the third quarter of 2021. Turning to Slide 14, I will briefly discuss some key balance sheet data as of 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. 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. She also serves as the Chairman and Chief Executive Officer of Navios Partners L.P. and Navios Maritime Acquisition Corporation. We show some vessels that were older and smaller to more commercially attractive vessels. 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. But overall, today the biggest thing that we have to see is that we have created operationally a unique platform. The pandemic changed everything. 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. 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. In Slide 14, you can see the latest update on our fleet. I think the - you can find one year versus three year, you have basically today discovering hugely. Thank you. What will it take to increase the distribution? Navios Partners does not assume any obligation to update the information contained in this conference call. The average Q3, 2021 time charter equivalent rate achieved per segment was Bulkers, $28,926 per day. Angeliki Frangou Net Worth Her net worth has been growing significantly in 2020-2021. We remain disciplined. Maybe just, I know, one final one I did want to ask. 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. [1] She is the chairman, chief executive officer and Director of Navios Maritime Holdings ., [2] of Navios Maritime Partners L.P., of Navios Tankers Management Inc. and Navios Maritime Acquisition Corporation. We also continued to renew and expand our fleet. We understood that with over 4,000 sailors at sea, when the phone rang, we had to answer it. Now I turn the call over to Navios Partners, Chairwoman and CEO, Ms. Angeliki Frangou. It can be accessed online at: http://edition.cnn.com/video/#/video/business/2013/02/19/leading-women-angeliki-frangou-daniela-mercury.cnn. If you have an ad-blocker enabled you may be blocked from proceeding. 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. Vaccine roll-outs, continued fiscal stimulus and governmental infrastructure projects will continue to support economic growth. 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. Yes, no that's fair. It is a matter of level, and I want to remind that, and this is something in the back of our mind. 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 . I wrote this article myself, and it expresses my own opinions. I'd like to turn the floor back over to Angeliki Frangou for any closing remarks. But I'm talking about as a portfolio, you'd like to keep an age profile characteristics somehow on a certain level. Terms of the bail-out package will likely result in Ms. Frangou regaining full control of Navios Maritime Holdings. So, how much is Angeliki Frangou worth at the age of 56 years old? Please turn to Slide 27. Angeliki Frangou Net Worth (2023) | wallmine 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. For more information about Navios Holdings please visit our website: www.navios.com. George? At the same time, being active in multiple sectors reveals opportunities. We operate in three segments, have 15 diversified vessel types, and serve over 10 end market. The financial potency of this combination can be measured through the pro forma combined results of 2020. Our fleet consists of 49 dry bulk vessels and 26 Containerships. We also agreed to sell for vessels having an average age of 13 years for a total sales price of $42.8 million. I think that will give us a long-term view on the right. TradeWinds is part of DN Media Group AS. Please. First Navios Maritime suit ended with revised offer. 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. Our merger with Navios Containers increased our containerships by 29 vessels. I think the number one is that, what we see is a good positioning on the company. Angeliki Frangou and her brother John square up at trial in London We use your data to ensure you have a secure and enjoyable user experience when visiting our site. And then lastly, just quickly, can you provide any quarter-to-date rates for the first quarter now that we're a week away from that being concluded for the dry bulk vessels? 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 New York Stock Exchange, including Navios Maritime Holdings Inc. (NYSE: NM), Navios Maritime Partners L.P. (NYSE: NMM) and Navios Maritime Acquisition Corporation (NYSE: NNA). The new loan will have an interest of 3% above LIBOR and amortization profile of about 5 years and maturity in the second quarter of 2025. Our Board is composed by majority Independent Directors and Independent Committees that oversee our management and operations. Navios uses cookies on this website. We continue to renew our fleet and improve average profile. Thank you, Stratos. Next, Ms. Tsironi will give an overview of Navios Partners financial results. 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. 2021 dry bulk trade is projected to increase by 3.7%, and further increased by 2.2% in '22. Through mid-March 2020 21, contracted is down by about 62% compared to the same period last year. With us today from the Company are Chairwoman and CEO, Ms. Angeliki Frangou; Chief Operating Officer, Mr. Stratos Desypris; Chief Financial Officer, Ms. Eri Tsironi; and Executive Vice President of Business Development, Mr. George Achniotis. Long-term borrowings, including the current portion, net of deferred fees amounted to $486.9 million. Fleet utilization was approximately 99%. This concludes my presentation. Now I will review the safe harbor statement. On the S&P, we have sold the 2006 Panamax, Panamax vessel for $14 million. Angeliki? So this is a net benefit, the inefficiency. Please turn to Slide 5. For the fourth quarter, Navios Partners reported revenue of $69.2 million and adjusted EBITDA of $35.5 million. If these conditions happen, the next thing on the market, on the debt, I think we are in a - we can both allocate on reduction of our debt and also on actually providing to our investors. We have - we see the potential, but we see - we need to see it materialize. So we're creating this with this different two tier financing. In the East China is struggling with its zero Covid strategy.. Please disable your ad-blocker and refresh. And it was somewhat opportunistic at the time, they were on a speculative basis I guess or at least orders without charters. The holder of the Convertible Debentures will be entitled to vote on an "as converted" basis along with the company's common shareholders. We have 89.4% of our available container base fixed to capitalize on market strength with 53.5% of our available dry bulk vessel base exposed to market rate for 2021. Demand and restocking is expected to prove demand growth well above net fleet growth, supporting the recent dramatic rising rates. 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. We expect to be able to provide more predictable returns to our unitholders despite uneven sector performance. And then you mentioned the word replacement, right. This has led the IEA to project Q4, 2021 oil demand to return close to 2019 levels, which is shown on the graph on the lower left. Greece and Cyprus: the success story of the Eastern Mediterranean, says Endy Zemenides, A Visit to St. Nicholas National Shrine at the WTC, Hellenic Lawyers Association Holds 32nd Annual Gala, National Hellenic Society Fundraiser in NY for the Promotion and Preservation of Greek Heritage a Great Success, Carol Burnett The First Lady of Television Comedy, 3rd Annual Athens Square Park Christmas Tree Lighting Ceremony, The Hellenic Initiatives 10th Anniversary New York Gala Raises More Than $2M, Were Back! Annunciation G.O. On average, we are approximately just over $15,000 chartered on the dry side and around $17,000 on the containerships. Thank you. Is this a view on those respective markets? Navios Maritime: Bail-Out To Result In Frangou Regaining Control Is that a repeatable opportunity you think? Even with the increase in new building orders, demand is forecast to outpace net fleet growth in both 2021 and '22. Also, we agreed to acquire a new building Capesize vessel for $31.6 million. And this is something we like to give the flexibility of having the Asian leases plus the commercial banks in Europe. I will briefly review Navios' financial results for the Fourth Quarter and Year Ended December 31, 2020. It's more diversified, you're thinking about basically moving forward with an even lower level of leverage than you have.