Also we have strength and stability in our balance sheet. 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. 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. So think about something between five vessels to 10 vessels to a minimum per year you will have to replace, because either this is the way, or you see that vessel may have - may come in to - you see that the potential in 2023 and we have more consumption, for different technological or commercial reasons or CapEx you have to put. In Slide 15, you can see our target strategy for 2021. However, the results of Navios Acquisition included in the Q3 Navios Partners results are only for the period from August 26,; through September 30, 2021. 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. Adjusted EBITDA for the fourth quarter of 2020 increased to $35.5 million compared to $33.7 million for Q4 of 2019, mainly due to the increase in earnings discussed above. We have majority independent directors and independent committees, not to say our management operations. From November 1st DN Media Group is responsible for controlling your data on TradeWinds. Leverage remains very low and net loan to value is 28.3% in an asset base estimated at over $4.5 billion. If you have an ad-blocker enabled you may be blocked from proceeding. As you can see on Slide 4, pro forma for the merger, NMM will have 85 vessels. In this process, we have been pioneering and are adopting certain environmental regulations up to 2 years in advance. I think we are evolving from a world of just in time manufacturing to just in case where countries and companies purposefully build redundant systems. 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. Then Mr. Achniotis will provide an operational update and an industry overview. Turning to Slide 14, I will briefly discuss some key balance sheet data as of September 30, 2021. 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. The full results of operation of Navios Containers will be included in Navios Partners comments commencing April 1, 2021. So we're creating this with this different two tier financing. 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. So, how much is Angeliki Frangou worth at the age of 56 years old? The Leading Women with Becky Anderson Series can be viewed online at: http://edition.cnn.com/SPECIALS/leading-women. As you can see from the top graph on the space, the IMF expects global GDP to grow by 5.5% in 2021. Rates in all asset classes rose sharply reflecting surging trade driven by strong demand for both major and minor bulk commodities. Our Board is composed by majority Independent Directors and Independent Committees that oversee our management and operations. In 2021 we've completed two mergers. Angeliki Frangou has been Navios Logistics Chairwoman and a Member of the Board of Directors since its inception in December 2007. FRANGOU ANGELIKI SC 13D Filing Concerning NNA on 2021-10-15 Cash and cash equivalents was $30.7 million. [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. As a result we fixed 88.1% of our available containership days for 2022 and have $1.6 billion in total contracted revenue on charters extending through 2030. Over the last five years, around 40% of European natural gas and 27% of European oil was supplied by Russia. Ms. Frangou has also been the Chairwoman and Chief Executive Officer of Navios Maritime Holdings Inc. (NYSE: NM). 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. Our market exposure days are calibrated towards drybulk and tanker vessels, while about 88% of our containerships are fixed. Lastly, we have a strong balance sheet with low leverage. That is - there is no one formula to this. The recently completed merger with Navios Acquisition gave us a strong foothold in this tanker sector with 45 tanker vessels. Please disable your ad-blocker and refresh. But overall, today the biggest thing that we have to see is that we have created operationally a unique platform. This has led to a change in trading patterns for the containerships, which has resulted in a historic turnaround in rates. NMM is differentiated by its industry-leading scale and diversified sector exposure. 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. Angeliki Frangou steers Navios towards emerging economies 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. 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. Turning to Slide 12. The large entity will benefit from a simplified capital and an organizational structure, thereby, reducing costs. If you have an ad-blocker enabled you may be blocked from proceeding. So this is a net benefit, the inefficiency. You can pay down debt aggressively, you can reward shareholders aggressively and you can actually acquire assets fairly aggressively. We continue to renew our fleet and improve average profile. The company reworked its operations in offices and on board the vessels and hired a new medical team to monitor the health of all employees and crew. And that one other thing we have done is we have about $1.5 billion in, I mean, Eri will give the exact numbers, but $1.5 billion on debt. And that's likely to grow here as we look ahead with the time charters you just announced on the containers. 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. Thank you. 2021 drybulk trade is projected to increase by 4.5% and further increase by 2.9% in '22. Angeliki Frangou is Chairman and Chief Executive Officer of Navios Holdings. Ms. Frangou received a bachelors degree in mechanical engineering, summa cum laude, from Fairleigh Dickinson University and a masters degree in mechanical engineering from Columbia University. So this is an ongoing process that will be going over and over again depending on - and you have seen us doing that even in the top every market, in the bottom and the top, it is a continuous process that we'll do replacement. Service was accepted by Israel David. And the tanker sector is just coming off - just coming up from a very low point, which was the lowest point in Q3. We are not shy of actually fixing it. Angeliki Frangou, Chairman and CEO of the Navios Group of - Yahoo! Moreover, Navios optimizes its flexible chartering strategy to leverage on fundamentals across its three sectors and calibrate charter 10 based upon segment opportunity. convertible debentures (the "Convertible Debentures"). About 91% of our debt is covered by the scrap value of our vessels alone. Such risks are more fully discussed in Navios Partners filings with the Securities and Exchange Commission. As a result, we re-imagined the modern shipping company. However, the pandemic broke the logistics chain and basic materials had to be airlifted to combat shortages. These together with near record low orderbook could boost crude and product tanker rates in the near term. Please turn to Slide 19. 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. Editor's note: US District Judge Mary Ann Vial Lemmon dismissed the litigation against the owners of Mariner Shipyard in April 2010. 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. Net fleet growth for 2021 is expected at 3.5% and only 1.5% for '22 below the projected increase in drybulk demand for both years. Capital Link Forum And you don't see the 3-year market developing. 2021 2023 Navios South American Logistics Inc. All rights reserved. Angeliki Frangou: A Greek shipping magnate who sails into the wind All grain production this year will reach a record according to the international gains counting and the USDA. Banks take back Hermitage PSV fleet at 62% of outstanding debt, Bottiglieri family removed from historic Italian shipping company. 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. The recently rapid market recovery has caused extremely high demand for available tonnage, which is in short supply across all segments. Angeliki Frangou Net Worth (2023) | wallmine Navios Forcing Investors To Forgo Dividends, Suit Says - Law360 It can be accessed online at: http://edition.cnn.com/video/#/video/business/2013/02/19/leading-women-angeliki-frangou-daniela-mercury.cnn. For the fourth quarter, Navios Partners reported revenue of $69.2 million and adjusted EBITDA of $35.5 million. But on the other side, we are very exposed to the market. In conclusion, positive demand fundamentals, mainly due to the start of economic activity around the world, along with reduced fleet availability, should continue to support both the dry bulk and containerized shipping industries in their continuing effort to mitigate through raising pandemic stall. Such risks are fully discussed and are described in filings with the Securities and Exchange Commission. over to Navios Partners' Chairman and CEO, Mr. Angeliki Frangou. And we have seen that, we have $1.6 billion contracted revenue on containers, $2.2 billion overall on the company. 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. Next, Mr. Desypris, will give an overview of Navios Partner's financial results. Lawsuit claims Frangou and board sought to push out shareholders The merger is a week away now, right, so congrats on that. 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. On the grain side, global grain trade continues to be supported by an ever-increasing world population. Angeliki Frangou has been our Chairwoman and CEO since August 25, 2005. Please move to Slide 9 which provide some selected segment data. Thank you, George. Angeliki Frangou Biography, Age, Height, Husband, Net Worth, Family Purely from a point of the market, I'll say that today, you may have some more opportunities to pick up attractive dry bulk vessels because you still have some recovery. CHARTERING OFFICER/MANAGER GAS CARRIERS/TANKERS, Panamax Chartering Manager, Chartering Broker. We understood that with over 4,000 sailors at sea, when the phone rang, we had to answer it. First Navios Maritime suit ended with revised offer. So basically we can fix and you have seen in the container segment we fix multi-year contracts. No, yes, that makes sense. Part 1 of the interview examines Angeliki Frangou's start in business and development of the Navios Group of Companies. Please turn to Slide 4. And then going forward, which subsector would you maybe look to grow? This concludes my presentation, I would now like to turn the call over to Angeliki for her final comments. The BDI average for Q3 was 3,732, the highest quarterly average since 2008. So this is a big investment for Q3. You building contracting was down 56% in 2020 compared to '19. 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. 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. EN English Deutsch Franais Espaol Portugus Italiano Romn Nederlands Latina Dansk Svenska Norsk Magyar Bahasa Indonesia Trke Suomi Latvian Lithuanian esk Unknown 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. 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. At this point, I would like to turn the call over to Mr. Stratos Desypris, our Chief Operating Officer, that will take you through the segment data. Or is this purely a fleet renewal play? I think that will give us a long-term view on the right. 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. Food security issues driven by the pandemic as well as increasing broadening demand worldwide. Frangou previously served as Chairman, Chief Executive Officer, and President of International Shipping Enterprises, Inc., which acquired . Part 2 highlights Angeliki Frangou's leadership and the growth of the Navios Group. 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. Basically, I mean, we see a lot of value on both segments. 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 Using the client market average time charter rate of $23,549 per day, we believe NMM is well positioned for a strong 2021. The displacement of established suppliers not only increases price, but increases ton miles as countries and people are forced to source their needs from places further away. Thank you, George. Angeliki Frangou, the Chairman & Chief Executive Officer of Navios By continuing to use this website, you agree to the use of cookies as set out in our full policy. Definitely sounds like you have the flexibility across the board with that. On August 25, 2021 Navios Partners acquired 62.4% of the equity interest in Navios Acquisition through the acquisition of 44.1 million Navios Acquisition's common shares for an aggregate investment of $150 million. Of course we also entered into the crude and product tanker segment. However, we do not take that for granted. Thank you. Definitely looks well-timed and a good overall return. But one of the things I'll say is that, we see visibility on chartering - the demand for charters, if I answer your question. As shown on Slide 5, 2021 has been a transformational year as we expanded in new segments. 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. And we always get - we get advantage of this on the long-term period because they need of turner. Our three pillars are now working well, both drybulk and containership sectors are performing and the tanker sector has improved materially in the past few months with more improvement expected.