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. And the tanker sector is just coming off - just coming up from a very low point, which was the lowest point in Q3. Yes, we have put out some details also in our press release today. Yes, the essence of the diversified fleet. Also - good afternoon and also congratulations on there, your first call here post-merger. 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. Well, thanks, Angeliki for your comments. 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. It can be accessed online at: http://edition.cnn.com/video/#/video/business/2013/02/26/leading-women-angeliki-frangou-daniela-mercury.cnn. The Globe and Mail A 14,000-ton freighter, the Fulvia, lay in Rio de Janeiro, unloved and very. Long-term borrowings including the current portion net of deferred fees amounted to $1.4 billion. Through mid-March 2020 21, contracted is down by about 62% compared to the same period last year. The large entity will benefit from a simplified capital and an organizational structure, thereby, reducing costs. Based on yesterday's closing price of Navios Containers units, our investment amounts to over $110 million. And it was somewhat opportunistic at the time, they were on a speculative basis I guess or at least orders without charters. 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"). A London High Court trial is under way in a complex dispute between Greek shipowner Angeliki Frangou and her brother, John Frangos. Thanks you Angeliki and good morning all. On October 15, 2021 we completed a transformative merger with Navios Acquisition. 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. If everyone dies, it is not anymore existing. From a shipping perspective, building for resilience translates into more ton miles as things are duplicated,. 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. Our merger with Navios Maritime Containers was approved and is expected to close on March 31, 2021. 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. The diversification allows us to balance a chartered strategy across different business segments, optimizing the profit potential with cash flow certainty. 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. 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 . We also continued to renew and expand our fleet. 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. Celebs Wiki Angeliki Frangou fans also viewed: Daniel David This has led to a change in trading patterns for the containerships, which has resulted in a historic turnaround in rates. 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. Is this happening to you frequently? The information set forth herein should be understood in light of such risks. 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. I am pleased with the results for the full year and fourth quarter of 2020. 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. 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. Please turn to Slide 17 for the review of the drybulk industry. You have a huge fleet, and you have a break-even per open day of 2,460. And we always get - we get advantage of this on the long-term period because they need of turner. The BDI average for Q3 was 3,732, the highest quarterly average since 2008. For the full year of 2020, Navios Partners reported revenue of $226.8 million and adjusted EBITDA of $99.8 million. Thank you. 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 . I am mostly a trader engaging in both long and short bets intraday and occasionally over the short- to medium term. Sorry I am not a 100% sure on the question, I cannot - it's a little bit hard to hear you. Angeliki Frangou has been Navios Logistics' Chairwoman and a Member of the Board of Directors since its inception in December 2007. For example, global GDP in 2019 equals $88 trillion, almost 30x the global GDP of $2 trillion in 1970. About one-third of our fleet will be in each of the dry . At Navios, the pandemic galvanized us. You have this low break-even, 2,400, historically the lowest. Angeliki? The result was a combination of the expansion of our fleet and the improved time charter equivalent rate. 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. This completes our formal presentation, and we open the call to questions. Thank you. In Slide 14, you can see the latest update on our fleet. Our fleet is in the top-10 publicly listed dry cargo fleet globally, as measured by a number of vessels. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. 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. 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. First COVID stimulus measures have caused a sharp recovery of demand for goods in Western OECD economies as noted on the two lower charts. So you always have to be very alert to see what is the best area where the opportunity lies. Its been four years since the last Posidonia. At this time, I'm showing no further questions. To access the webcast please go to the Investors section of Navios Maritime Partners website at www.navios-mlp.com. 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? 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.Ms. But could there be any sort of headwind getting, any sort of incremental business done or extending - for or extending any particular charges to vessels. Additional availability of Atlantic exports to the Far East are expected to increase as steel mills replenish stockpiles. For 2022 we have fixed approximately 42% of our open days at $29,350 per day and our contracted revenue provides for a break-even of $2,469 per open day. In addition, I am having a close eye on the still nascent fuel cell industry.I am located in Germany and have worked quite some time as an auditor for PricewaterhouseCoopers before becoming a daytrader almost 20 years ago. Angeliki Frangou - Chairman and Chief Executive Officer Stratos Desypris - Chief Financial Officer George Achniotis - Executive President-Business Development Conference Call Participants Chris. Moreover, the large asset base will provide the entity a significant parcel of collateral value. Angeliki? Just trying to understand how you're thinking about the work to be done on that side? We are about two years below industry average. Accordingly, 2021, net fleet growth is expected at 2.6% and only 0.7% for '22. convertible debentures (the "Convertible Debentures"). NMM is well positioned to benefit from the different sector fundamentals. The financial information is included in the press release and is summarized in the slide presentation available on the Company's website. 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. Then Mr. Achniotis will provide an operational update and an industry overview. This will be the highest digital rate in the past 50 years. Slide 7 sets forth key strength of the compliance entity. I am not receiving compensation for it (other than from Seeking Alpha). Vessels over 20 years of age are 11.3% of the total fleet, which compares favorably with a low orderbook. own rates rose dramatically from midyear 2020, led by the China to the U.S. West Coast and China to Europe freight rates as depicted on the chart on the lower rides. According to our Database, She has no children. We believe that this combination offers a stronger, more resilient entity mitigating sector specific cyclicality. As previously mentioned, stimulus measures have caused recovery of consumption in the advanced economies. And you need to be always running the different scenarios. From November 1st DN Media Group is responsible for controlling your data on TradeWinds. So basically, we have a fortress balance sheet. Fleet utilization for the fourth quarter of 2020 was almost 100%. And we have seen that, we have $1.6 billion contracted revenue on containers, $2.2 billion overall on the company. We aspire to have zero emissions by 2050. Slide 6 goes through recent developments. Slide 6 details our Company highlights. Also, we agreed to acquire a new building Capesize vessel for $31.6 million. Vietnam and other Southeast Asian countries, increased coal imports by 13%. Angeliki Frangou (born 1965) (Greek: ) is a Greek shipowner. Even with the increase in new building orders, demand is forecast to outpace net fleet growth in both 2021 and '22. Angeliki Frangou (nee Papi) was born in Ikaria in November 1915. . 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! Navios uses cookies on this website. So you will see the effect of the results in April 1 and going forward. 2021 2023 Navios South American Logistics Inc. All rights reserved. EBITDA and net income for the first nine months of 2021 include an $80.8 million gain from equity in net earnings of affiliated companies, a $48 million bargain purchase gain upon obtaining control of Navios Containers and Navios Acquisition, a $30.3 million gain related to the sale of seven of our vessels, and $2.9 million transaction cost in relation to the merger with Navios Acquisition. For containerships, we increased fleet size by 330% and reduced average age by 24%. Such risks are fully discussed and are described in filings with the Securities and Exchange Commission. Definitely sounds like you have the flexibility across the board with that. The nominal GDP today is exponentially higher than compared to the nominal GDP of 50 years ago. And today we fix over four years, and you know with 2.5 times the rate. Please turn to Slide 27. As a result, we re-imagined the modern shipping company. Terms of the bail-out package will likely result in Ms. Frangou regaining full control of Navios Maritime Holdings. over to Navios Partners' Chairman and CEO, Mr. Angeliki Frangou. But on this containership opportunity, how repeatable could you say that deal is? Then Mr. Achniotis will provide an operational update and an industry overview. The 2020 decrease is mainly attributable to Indian and Chinese imports declining by 13.8%, respectively. Maybe just, I know, one final one I did want to ask. And this is the strategy going forward. Investors should avoid Navios Maritime Holdings' common shares and remain wary of a potential merger with Navios Maritime Partners to the detriment of the partnership's outside common unitholders. 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. Please turn to Slide 4. The move would be a financial windfall for Frangou, who owns 30.6%, TradeWinds is part of DN Media Group. Cash and cash equivalents was $30.7 million. And what we are looking is how this investment we did will play. Thank you for joining us for Navios Maritime Partners Third Quarter 2021 Earnings Conference Call. Both related-party loans have a term of four years and won't require cash interest or amortization payments for an initial 18-month period (the "PIK Period"). And also we have to see that target, which we also see a good potential to actually happen. Thank you, Stratos, and good morning all. We are focusing on taking advantage of the different fundamentals across the sector we operate to maximize profitability. 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. Thank you, Doris, and good morning to all of you joining us on today's call. This is unique. Navios Partners controls 142 vessels with balanced exposure to the drybulk, containership and tanker segments. So, basically what we want to see is number one, this market drybulk to materialize, which we are bullish about it. Additionally, we are positioning our dry bulk fleet for what we hope will be a strong balance of 2021. Post-merger NMM will have approximately 19.7 million units outstanding. Scrapping totaled 16 million tons in 2020, almost doubles the 2019 total. 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. We'll take the next question from James with Citigroup. We use your data to ensure you have a secure and enjoyable user experience when visiting our site. As Angeliki mentioned, earlier the merger with Navios Acquisition was completed on October 15, 2021. Sure. Slide 13 shows the details of our combined fleet, giving effect of the merger of Navios Containers. Moving to the financial results, as shown on Slide 11, Q4 revenue increased by $7.9 million to $69.2 million compared to $61.3 million for Q4 2019. Angeliki Frangou has been our Chairwoman and Chief Executive Officer since our inception. I have no business relationship with any company whose stock is mentioned in this article. Yiayia Aggela in the 1980s with her husband, children Yianni and Sofia, her son-in-law, and a grandson. Demand is forecast to outpace net sales growth in both 2021 and '22. In the East China is struggling with its zero Covid strategy.. At Navios, Ms. Frangou is entrusted with establishing strategy and managing her team of seasoned executives as they supervise global activities. 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. We don't have much information about She's past relationship and any previous engaged. Next, Ms. Tsironi will give an overview of Navios Partners financial results. 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. A London High Court trial is under way in a complex dispute between Greek shipowner Angeliki Frangou and her brother, John Frangos. Net fleet growth is expected to remain low over the next 3 years, as the order book is the lowest or effort. This increase reflects surging trades, driven by strong demand for both major and minor bulk commodities. 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). It's more diversified, you're thinking about basically moving forward with an even lower level of leverage than you have. Its impossible to know what this all means, she underlined, adding that there are too many potential consequences to digest and analyze. Your balance sheets in great shape. 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. Global iron ore demand is expected to increase by 2.7% in this year and the additional availability of iron ore shipments to China are expected to increase as still masterplan stockpile, driving demand for Capesize vessels. The increase was mainly due to the 39.3% increase in available days in Q4 2020. Got it. For returning coal high gas prices have driven power plants to switch back to coal-fired power generation, and the IEA estimates that global coal-fired electricity generation is expected to rise by nearly 5% this year and exceed pre-pandemic levels before increasing a further 3% to an all-time high in 2022. We have 27,437 open in index days that can generate significant operating cash. The event was held during . Angeliki Frangou Net Worth Her net worth has been growing significantly in 2020-2021. Is this happening to you frequently? 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. The loan terms also provide for prepayment premiums ranging from 5%-10% during the first 36 months which would also be payable in the form of Convertible Debentures. For more information about Navios Holdings please visit our website: www.navios.com. Please disable your ad-blocker and refresh. You building contracting was down 56% in 2020 compared to '19. Navios Maritime Partners L.P. (NYSE:NYSE:NMM) Q4 2020 Earnings Conference Call March 24, 2021 08:30 AM ET Company Participants Angeliki Frangou - Chairman & CEO Stratios Desypris - CFO. The benefits of diversification are reflected in recent market activity. We stand at the crossroads, perhaps the crossroads of history. The terms of the loan includes an interest rate of 3% above LIBOR and depreciation profile of about 9 years and maturity in the first quarter of 2026. You can read more about how we handle your information in our privacy policy. Angeliki N. Frangou served on 1/29/2019, answer due 2/19/2019; George Malanga served on 1/29/2019, answer due 2/19/2019; Navios Maritime Holdings, Inc. served on 1/29/2019, answer due 2/19/2019; John Stratakis served on 1/29/2019, answer due 2/19/2019. We are 86, which I think is a rather big percentage for our drybulk to be open. Now 30,000 is a very good level. 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 . Year-to-date scrapping has totaled 3.4 million tons, which is on pace for March 2020. 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? So this is a net benefit, the inefficiency. 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. A couple of questions. The current product tanker orderbook is 6% of the fleet, which compares favorably with the 8.4% of the fleet, which is 20 years of age or older. As a reminder, this conference call is being webcast. Our contracted revenue alone exceeds our total fleet expenses by $12.6 million. Yes, no that's fair. 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. Thereby accumulating significant scale in a short period of time. Please move to Slide 9 which provide some selected segment data. Overall, world grain sales increased by 7.7% in 2020 is expected to increase by about 2% in '21. 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. First Navios Maritime suit ended with revised offer. The net result is that we should have more predictable entity level return. Then, Mr. Achniotis will provide an operational update and the industry overview. During Q3 NMM generated $228 million in revenue and $145.2 million in adjusted EBITDA and $162.1 million in net income. This will be a transformative transaction for Navios Partners and will carry the significant benefits of diversification. We remain disciplined. From November 1st DN Media Group is responsible for controlling your data on TradeWinds. 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. Forward-looking statements are statements that are not historical facts. About 91% of our debt is covered by the scrap value of our vessels alone. Overall our diversified platform should provide flexibility, allowing us to capitalize across segment opportunities. Building us a significant base of collateral value. 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. So all these unique things that we see on the supply chain happening, these vessels we think is a good match. Debt-laden dry bulk shipper is bailed out by CEO and Chairwoman Angeliki Frangou. The pandemic substitution of goods for services is returning to more normal levels; expenditures for travel and entertainment and services generally are skyrocketing. Angeliki Frangou. As you can see on Slide 4, pro forma for the merger, NMM will have 85 vessels. Total adjusted net income was $130 million compared to $8.8 million for the same period last year. We understood that with over 4,000 sailors at sea, when the phone rang, we had to answer it. I wrote this article myself, and it expresses my own opinions. Our Board is composed by majority Independent Directors and Independent Committees that oversee our management and operations. NMM is differentiated by its industry-leading scale and diversified sector exposure. This conference call could contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about Navios Partners. 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.