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And overall we like to have a low leverage. The lender has the option to convert any portion of the outstanding balance under the Convertible Debentures into shares of common stock of Navios Holdings at a conversion price of $3.93 at any time. From a shipping perspective, building for resilience translates into more ton miles as things are duplicated,. 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. Angeliki Frangou is Chairman/CEO at Navios Maritime Holdings Inc. See Angeliki Frangou's compensation, career history, education, & memberships. But also to, you know, a recovery on the tanker segment. As you can see on Slide 4, pro forma for the merger, NMM will have 85 vessels. Please. In this process, we have been pioneering and are adopting certain environmental regulations up to 2 years in advance. 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. Turning to Slide 20. Or is this purely a fleet renewal play? But on this containership opportunity, how repeatable could you say that deal is? As a reminder, this conference call is being webcast. Turning to Slide 12, you can see some fleet and debt updates. We also agreed to sell for vessels having an average age of 13 years for a total sales price of $42.8 million. Adjusted net income for the first nine months of 2021 amounted to $242 million compared to a $2.9 million loss for the same period last year. Please move to Slide 9 which provide some selected segment data. Slide 7 sets forth key strength of the compliance entity. About 91% of our debt is covered by the scrap value of our vessels alone. You building contracting was down 56% in 2020 compared to '19. 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 . Angeliki N. Frangou. Pro forma for the merger, our company will be 1 of the 10 largest public listed dry cargo fleet. Please turn to Slide 21. Angeliki? And then going forward, which subsector would you maybe look to grow? In the West, the worst impacts of Covid appear to be fading. 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. In just the last month, sub trade time charter rates have hit 10-year highs in what is normally a seasonal low period. If we find opportunities, we can always expand. So, basically what we want to see is number one, this market drybulk to materialize, which we are bullish about it. If you have seen in container segment what we did, we - and is the example that you see on the charters we just announced, we were fixing one year. It can be accessed online at: http://edition.cnn.com/video/#/video/business/2013/02/26/leading-women-angeliki-frangou-daniela-mercury.cnn. 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. Now I turn the call over to Navios Partners, Chairwoman and CEO, Ms. Angeliki Frangou. 2021 drybulk trade is projected to increase by 4.5% and further increase by 2.9% in '22. We have currently fixed 66% of our 29,526 available days for 2021. In Slide 11, you can see the strength and stability of our balance sheet. For simplicity, the discussion of the financial results below exclude the effect of the one-off items listed in this slide. 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. I mean, you have much larger asset base. We have arranged the new facility of $72.7 million for the refinancing of three existing facilities with short and medium term durations. 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. We have historically low break-even gives us on a 47,000 days. NMM is well positioned to benefit from the different sector fundamentals. I think the number one is that, what we see is a good positioning on the company. The merger is a week away now, right, so congrats on that. It can be accessed online at: http://edition.cnn.com/video/#/video/business/2013/02/12/leading-women-angeliki-frangou-navios-shipping.cnn. Meanings for Angeliki Frangou A popular Greek shipowner and Director who served as a Chief Executive Officer of Navios Maritime Holdings. It doesn't indicate, now on actual investment, we just completed a $1 billion investment, 45 vessels in the tanker segment. Navios uses cookies on this website. We have finalized an additional $58 million loan, which will be used to finance the acquisition of 2 vessels and refinance an existing facility. 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. We are going to acquire 3 Janpanese fleet mid-sized vessels contracted under 15 gigabits of instruction. The transaction based scale through a larger diversified asset base with an increased earning capacity. One of the lowest on record. 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. I wrote this article myself, and it expresses my own opinions. In that context, and thinking of deploying capital in the future, we've talked about how maybe tankers is an appealing asset class to go after because it's the bottom of the market to an extent. Instead, interest payments will have to be made in the form of new, unsecured convertible debentures (the "Convertible Debentures"). Turning to Slide 25. New York-listed bulker owner Navios Maritime Holdings has room to lower debt further after a very profitable fourth quarter. Maybe just, I know, one final one I did want to ask. 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. 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. If you have an ad-blocker enabled you may be blocked from proceeding. In this limited sphere we are optimistic. The BDI average for Q3 was 3,732, the highest quarterly average since 2008. 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. 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. Additionally, we have agreed a new $52.7 million bareboat financing for two Kamsarmax vessels to be delivered in the second half of 2022 and Q1 of 2023. This resulted in a reduction of interest expense for 2020 by approximately $15 million compared to 2019. How Angeliki Frangou became the leading Greek shipping . Year-to-date we expanded our drybulk fleet by 10 vessels increasing drybulk capacity by 36% and reducing its average age by 18% pre-acquisition calendar does not distract us from our balance sheet. 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. Part 2 highlights Angeliki Frangou's leadership and the growth of the Navios Group. At Navios, Ms. Frangou is entrusted with establishing strategy and managing her team of seasoned executives as they supervise global activities. Angeliki Frangou has been our Chairwoman and Chief Executive Officer since our inception. Angeliki Frangou | Management | Navios Maritime Acquisition Corporation But overall, today the biggest thing that we have to see is that we have created operationally a unique platform. Angeliki Frangou (born 1965) (Greek: ) is a Greek shipowner. This complete formal presentation and we open the call to questions. Terms of the bail-out package will likely result in Ms. Frangou regaining full control of Navios Maritime Holdings. 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. Other than envisioned by me, the Navios Group's largest and financially strongest publicly-listed entity, Navios Maritime Partners (NYSE:NMM) or "Navios Partners" won't be part of the bail-out, at least not at this time. 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. Turning to Slide 22, fleet growth is expected to be 4.2% this year and 3.8% for '22. Also we have strength and stability in our balance sheet. Turning to Slide 22. Angeliki Frangou | Management | Navios Maritime Holdings click here. On Slide 16, you can see with our ESG initiatives. Please turn to Slide 19. CHARTERING OFFICER/MANAGER GAS CARRIERS/TANKERS, Panamax Chartering Manager, Chartering Broker. 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. Read more about DN Media Group here. Well, thanks, Angeliki for your comments. Angeliki Frangou has been Navios Logistics' Chairwoman and a Member of the Board of Directors since its inception in December 2007. In addition, Ms. Frangou serves as the Chairman and Chief Executive Officer of Navios Partners, an affiliated limited partnership trading on the New York Stock Exchange, since August 2007, and as the Chairman and Chief Executive Officer of Navios Maritime . Net debt to book capitalization was 40% at the end of the year. This will be a transformative transaction for Navios Partners and will carry the significant benefits of diversification. 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. Yes, totally understand the benefits to sort of the market capacity and rates. Big picture just, you should understand that all the inefficiency is net positive for our business. You have a huge fleet, and you have a break-even per open day of 2,460. 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. And NMM already has more than that contracted for 2021. Angeliki Frangou Net Worth (2023) | wallmine The addition also provides flexibility in our operational and financial strategies as we charter, sell and purchase vessel and obtain debt finance. At Navios, the pandemic galvanized us. And that's likely to grow here as we look ahead with the time charters you just announced on the containers. 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. 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 . Illustration of Angeliki Frangou, founder, CEO and chairwoman of Navios Maritime Holdings Inc. We show some vessels that were older and smaller to more commercially attractive vessels. Maritime shipping is the most environmental friendly means of transportation as it is the most carbon efficient mode of transport. We believe that this combination offers a stronger, more resilient entity mitigating sector specific cyclicality. On the S&P, we have sold the 2006 Panamax, Panamax vessel for $14 million. We see good - we see a good market potential, but we have to see it realize. The event was held during . NMM is differentiated by its industry-leading scale and diversified sector exposure. Angeliki Frangou has been the Chairman and Chief Executive Officer of Navios Maritime Holdings Inc. (NYSE: NM) since August 25, 2005. 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. Such risks are fully discussed and are described in filings with the Securities and Exchange Commission. So, on that, what - after these two conditions, we are seeing as a return, a total return to our investor is an important part of our strategy. 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. Angeliki Frangou Net Worth Her net worth has been growing significantly in 2020-2021. For more information and how to manage your privacy settings, please refer to our privacy and cookie policies. 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" ). Angeliki Frangou, the Chairman & Chief Executive Officer of Navios The increase was mainly due to the 32.3% increase in available days of 2020. Definitely looks well-timed and a good overall return. 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. For the full year of 2020, Navios Partners reported revenue of $226.8 million and adjusted EBITDA of $99.8 million. Stratos? I'm also proud to be working with the social countries group whose core values include diversity in [indiscernible] and safety. Yes, the essence of the diversified fleet. $690 million of contracted revenue. Moving to the earnings highlight in Slide 13. Angeliki Frangou, Navios Maritime Holdings Inc: Profile and Biography Please turn now to Slide 24 for the review of the tanker industry. 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. So we need to wait for the drybulk, we enjoy the - we have the luxury because of our balance sheet and a low break-even to really to have the luxury to be open. Post-merger NMM will have approximately 19.7 million units outstanding. Such forward-looking statements are based upon the current beliefs and expectations of Navios Partners management and are subject to risks and uncertainties, which would cause actual results to differ materially from the forward-looking statements. Is this happening to you frequently? This decline can be partially attributed to owners hesitance towards the long-lived assets in light of macroeconomic uncertainty and engine technology concerns due to upcoming CO2 restrictions. 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. What we have done is that, we have created a fortress balance sheet by chartering the container sector, which is extremely strong. But one of the things I'll say is that, we see visibility on chartering - the demand for charters, if I answer your question. Thanks, Angeliki. This increase in demand has led to a decline in OECD crude oil inventories, which had fallen below their five year average since February, with the largest decline coming in September as shown on the graph on the lower right. So you will see the effect of the results in April 1 and going forward. 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. However, we do not take that for granted. Celebs Wiki Angeliki Frangou fans also viewed: Daniel David Turning to Slide 19. I note that we were able to sell these vessels for a book gain in this excellent market as we manage our rate profile. 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 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. Focus are also for growth in iron ore imports around the world as the effects of the pandemic received. This - the advantage we took on the container vessels gave us a historically low break-even of $2,469 per open day in 2022. 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. Then Mr. Achniotis will provide an operational update and an industry overview. Yet we still have 2,473 open or index-linked days. 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. Lawsuit claims Frangou and board sought to push out shareholders 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").