Our diversification strategy creates resilience in the overall business model and enable us to mitigate individual segment volatility. NMM is differentiated by its industry-leading scale and diversified sector exposure. We aspire to have zero emissions by 2050. The holder of the Convertible Debentures will be entitled to vote on an "as converted" basis along with the company's common shareholders. At this time, I'm showing no further questions. Shipping is always very, very profitable. 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. Please. If you have an ad-blocker enabled you may be blocked from proceeding. 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. Ms. Frangou has also been the Chairwoman and Chief Executive Officer of Navios Maritime Holdings Inc. (NYSE: NM). 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. Is this happening to you frequently? The result was a combination of the expansion of our fleet and the improved time charter equivalent rate. The move would be a financial windfall for Frangou, who owns 30.6%, TradeWinds is part of DN Media Group. over to Navios Partners' Chairman and CEO, Mr. Angeliki Frangou. 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. Angeliki Frangou is Chairman and Chief Executive Officer of Navios Holdings. Overall our diversified platform should provide flexibility, allowing us to capitalize across segment opportunities. So, I guess going forward, is there a specific debt target or leverage ratio you're pursuing before kind of switching to some kind of return of capital, be it either repurchasing units at a massive discount to NAV or increasing the quarterly distribution? Is this happening to you frequently? And to capture the spot market and wait for the period market to come. 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. Please turn to Slide 4. I now pass the call to George Achniotis, Executive Vice President of Business Development to discuss the industry section. Please turn now to Slide 24 for the review of the tanker industry. Slide 7 reviews our recent development. In this process, we have been pioneering and are adopting certain environmental regulations up to 2 years in advance. Sure. 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. Furthermore, protocols for contactless operations and repatriations have been created and IT systems were overhauled to facilitate all these. Our office had to remain open. We have been taking advantage of robust market, NMM has $2.2 billion of contracted revenue. Vessels over 20 years of age are about 7.6% of the total fleet, which compares favorably with the previously mentioned record low order book. Illustration of Angeliki Frangou, founder, CEO and chairwoman of Navios Maritime Holdings Inc. How Angeliki Frangou became the leading Greek shipping . In just the last month, sub trade time charter rates have hit 10-year highs in what is normally a seasonal low period. 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. In the West, the worst impacts of Covid appear to be fading. 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. 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. We use your data to ensure you have a secure and enjoyable user experience when visiting our site. We continue to renew our fleet and improve average profile. Our net debt to capitalization is 43.5%, and our debt maturities are targeted through 2030. This resulted in a reduction of interest expense for 2020 by approximately $15 million compared to 2019. To access the webcast, please go to the Investors section of Navios Partners' website at www.navios-nlt.com. Finally, we have very strong corporate covenants at corded efforts. Please disable your ad-blocker and refresh. Frangos claims his sister owes his company, First Lines, $1.18m, TradeWinds is part of DN Media Group. 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. Navios Partners controls 142 vessels with balanced exposure to the drybulk, containership and tanker segments. This will be a transformative transaction for Navios Partners and will carry the significant benefits of diversification. First, Ms. Frangou will offer opening remarks. The container segment began strengthening in the third quarter of 2020, while the dry bulk market become turning in 2021. Angeliki Frangou (left) is seen with her brother John Frangos in 2012. Thereby accumulating significant scale in a short period of time. On October 15, 2021 we completed a transformative merger with Navios Acquisition. Read more about DN Media Group here. But overall, today the biggest thing that we have to see is that we have created operationally a unique platform. 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. This has led the IMF to increase its 2021 GDP growth projection to 5.5%, the highest in 50 years and 4.2% in '22. Please. 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? I would now like to turn the call over to Angeliki for her final comments. Basically, I mean, we see a lot of value on both segments. 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. We believe that this combination offers a stronger, more resilient entity mitigating sector specific cyclicality. But I'm talking about as a portfolio, you'd like to keep an age profile characteristics somehow on a certain level. And do you have a maybe preference there in terms of repurchases or distribution increase? Please disable your ad-blocker and refresh. So we're creating this with this different two tier financing. For the full year of 2020, Navios Partners reported revenue of $226.8 million and adjusted EBITDA of $99.8 million. We have about - commercial banks, about $600 million in Japanese and Chinese leases, which provides us more easier covenant. We have fixed 10 of our containerships for long durations, creating approximately $690 million in contracted revenue. The diversification allows us to balance a chartered strategy across different business segments, optimizing the profit potential with cash flow certainty. We are going to acquire 3 Janpanese fleet mid-sized vessels contracted under 15 gigabits of instruction. Moving to the first nine month 2021 period, time charter revenue reached $445 million compared to $158 million in 2020. This completes our quarterly result for NMM. Additional availability of Atlantic exports to the Far East are expected to increase as steel mills replenish stockpiles. Yes, no that's fair. So, how much is Angeliki Frangou worth at the age of 56 years old? I have no business relationship with any company whose stock is mentioned in this article. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. So this is something that we are focusing very much. Then Mr. Achniotis will provide an operational update and an industry overview. 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? Global grain trade has been growing by 5% CAGR since 2008, mainly driven by Asian demand. In concluding, the tanker market continues to remain challenged, following reduced crude and product demand associated with COVID restraints. You can pay down debt aggressively, you can reward shareholders aggressively and you can actually acquire assets fairly aggressively. Through this S&P activities we increased our fleet size and reduced average age for our existing segments. In terms of future prospects, Angeliki Frangou remains optimistic but wished she felt that way for different reasons. Angeliki? Angeliki Frangou has been the Chairman and Chief Executive Officer of Navios Maritime Holdings Inc. (NYSE: NM) since August 25, 2005. This increase reflects surging trades, driven by strong demand for both major and minor bulk commodities. 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. So this is a net benefit, the inefficiency. For the fourth quarter, Navios Partners reported revenue of $69.2 million and adjusted EBITDA of $35.5 million. 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. Angeliki Frangou (born 1965) (Greek: ) is a Greek shipowner. Angeliki? We will be profitable in Q4 as contracted revenue exceeds total expenses by $57 million. Thank you. Consequently, they see magnitudes of today's global GDP made to [indiscernible] the economic impact of a particular percentage point growth when compared to 1970. Total adjusted net income was $130 million compared to $8.8 million for the same period last year. TradeWinds is part of DN Media Group AS. About 91% of our debt is covered by the scrap value of our vessels alone. 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. But on the other side, we are very exposed to the market. We agreed to acquire 2 2012 bill oil gas vessels or approximately $59.3 million. Maybe just, I know, one final one I did want to ask. From a shipping perspective, building for resilience translates into more ton miles as things are duplicated,. This factor stimulus has led to historic turnaround in global container trade. The oldest executive at Navios Maritime Acquisition Corp is Brigitte Noury, 66, who is the Independent Director. Long-term borrowings, including the current portion, net of deferred fees amounted to $486.9 million. Angeliki Frangou has been our Chairwoman and Chief Executive Officer since our inception. Ms. Frangou has also been Chairwoman and CEO of Navios Holdings (NYSE: NM) our sponsor since August 2005. 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. 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. Forward-looking statements are statements that are not historical facts. Angeliki N. Frangou is Chairman of the Board, Chief Executive Officer of Navios Maritime Holdings Inc. [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. Churchs Annual Stewardship & Mistletoe Gala. 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. 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. Had the merger been effective for 2020, the pro forma revenue would have been $354 million. I am pleased with the results for the full year and fourth quarter of 2020. We are about two years below industry average. Thanks, Angeliki. But we have the luxuries. And we have the tanker sector that we are watching as establish. Please. We are focusing on taking advantage of the different fundamentals across the sector we operate to maximize profitability. "In terms of future prospects, I am optimistic but I wish it were for different reasons," she said. Turning to Slide 19. Next, Mr. Desypris, will give an overview of Navios Partner's financial results. 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. $690 million of contracted revenue. 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. The large entity will benefit from a simplified capital and an organizational structure, thereby, reducing costs. 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. 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. The pandemic changed everything. At Navios, the pandemic galvanized us. If you have an ad-blocker enabled you may be blocked from proceeding. Now 30,000 is a very good level. As shown on Slide 5, 2021 has been a transformational year as we expanded in new segments. Will you order those ships and then subsequently contracted them and now you have basically a five year, maybe 5.5 year payback. I wrote this article myself, and it expresses my own opinions. Thank you for joining us for Navios Maritime Partners' Fourth Quarter and Full Year 2020 Earnings Conference Call. Ms. Frangou has also been the Chairwoman and Chief Executive Officer of Navios Maritime Holdings Inc. (NYSE: NM). I think the sales of the older ones will slowly reduce that or I guess keep it relatively young. This - the advantage we took on the container vessels gave us a historically low break-even of $2,469 per open day in 2022. 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. 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. 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. 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? Building us a significant base of collateral value. 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. Or is this purely a fleet renewal play? We have very strong corporate governance and clear code of ethics. The current orderbook is 8.3% of the fleet. You may now disconnect. 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 . NMM has an enhanced base to generate free cash flow. Definitely sounds like you have the flexibility across the board with that. Please turn to Slide 27. 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 . TradeWinds is part of DN Media Group AS. 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. Thank you. Wanted to maybe follow up on the commentary you just had with Randy, just in terms of deployment of capital, right now you're generating huge sums of cash. 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. But don't forget, we are 86% of our available days open on drybulk. The big thing is about - we're looking at reducing further. 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. The decrease is primarily due to a $25.5 million increase in vessel operating expenses, mainly due to the increased split, a $3 million increase in general revenue of tax expenses, mainly due to the increased fleet and a $1.4 million decrease in equity net earnings of affiliate companies. The recently completed merger with Navios Acquisition gave us a strong foothold in this tanker sector with 45 tanker vessels. Navios Maritime Partners L.P. (NYSE:NYSE:NMM) Q2 2021 Earnings Conference Call July 27, 2021 8:30 AM ET Company Participants Angeliki Frangou - Chairman and Chief Executive Officer. So we went to work, Chairwoman and Director of Navios Maritime Holding Angeliki Frangou stated speaking at the private dinner she hosted during the Posidonia 2022. Thank you for joining us for Navios Maritime Partners Third Quarter 2021 Earnings Conference Call. Our available days increased by 63% to 20,421, while the average nine month 2021 combined time charter equivalent rate increased by 76% to 20,991. Angeliki N. Frangou. And this is something we like to give the flexibility of having the Asian leases plus the commercial banks in Europe. It can be accessed online at: http://edition.cnn.com/video/#/video/business/2013/02/19/leading-women-angeliki-frangou-daniela-mercury.cnn. The net book is expected to close on March 31, 2021. NMM is well positioned to benefit from the different sector fundamentals. Today, the BDI stands at 2,271 with a year-to-date average more than double its level at the start of 2020, and the highest it has been in 11 years. So you will see the effect of the results in April 1 and going forward. And lastly, we'll open the call to take questions. Is this a view on those respective markets? In Slide 15, you can see our target strategy for 2021. The current average contracted net rate of the four vessels is approximately $2,600 per day. This concludes my presentation, I would now like to turn the call over to Angeliki for her final comments. According to our Database, She has no children. But on this containership opportunity, how repeatable could you say that deal is? In 2021 we've completed two mergers. Angeliki Frangou, Chairwoman and Chief Executive Officer, stated, "We are pleased with this transformative transaction through which we created the largest U.S. publicly-listed shipping company with 15 vessel types diversified across three segments, servicing more than 10 end markets. Through mid-March 2020 21, contracted is down by about 62% compared to the same period last year. All grain production this year will reach a record according to the international gains counting and the USDA. Moving to the earnings highlight in Slide 13. If everyone dies, it is not anymore existing. Angeliki Frangou has been Navios Logistics' Chairwoman and a Member of the Board of Directors since its inception in December 2007. Thank you for your participation. Thank you, Doris, and good morning to all of you joining us on today's call. Our Board is composed by majority Independent Directors and Independent Committees that oversee our management and operations. Adjusted net income for 2020 amounted to $12.8 million. You mentioned that you sold the 2006 Panamax, but still have a handful of 2004 and 2005 built vessels. For more information and how to manage your privacy settings, please refer to our privacy and cookie policies. To access the webcast please go to the Investors section of Navios Maritime Partners website at www.navios-mlp.com. 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. You building contracting was down 56% in 2020 compared to '19. 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. 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. The Greek company's chief executive Angeliki Frangou said she was. Navios has deescalating [indiscernible] options on the vessels starting in year 4 before the charter generation. We also agreed to sell for vessels having an average age of 13 years for a total sales price of $42.8 million. And NMM already has more than that contracted for 2021. 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. It doesn't sound like it has, but curious if there's any sort of hold back because of that lack of visibility. 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. Turning to Slide 12, you can see some fleet and debt updates. And overall we like to have a low leverage. 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. But one of the things I'll say is that, we see visibility on chartering - the demand for charters, if I answer your question. CHARTERING OFFICER/MANAGER GAS CARRIERS/TANKERS, Panamax Chartering Manager, Chartering Broker. Pro forma for the merger, our company will be 1 of the 10 largest public listed dry cargo fleet. 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. You need to wait and see that market develop. So, starting off with the merger, your fleet is clearly massive, it's diverse. But also to, you know, a recovery on the tanker segment. We agreed to acquire 6 dry bulk vessels with an average age of about 2 years and sold 4 vessels with an average of about 13 years. By continuing to use this website, you agree to the use of cookies as set out in our full policy. hen she referred to the Russian invasion of Ukraine and emphasized that the consequences of this war and the related sanctions are accelerating inflation and rising interest rates. Based on yesterday's closing price of Navios Containers units, our investment amounts to over $110 million. Angeliki Frangou is 55, she's been the Chairman of the Board and Chief Executive Officer of Navios Maritime Acquisition Corp since 2008. During Q3 NMM generated $228 million in revenue and $145.2 million in adjusted EBITDA and $162.1 million in net income. 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. 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. But most important is we need to have the right conditions. Yes, thank you. And then separately, can you just share generally the front and center. Well, thanks, Angeliki for your comments. So you will see that we are almost 100% fixed on both sides, both in the dry bulk but also the container side. First COVID stimulus measures have caused a sharp recovery of demand for goods in Western OECD economies as noted on the two lower charts. 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. And today we fix over four years, and you know with 2.5 times the rate. I would also like to highlight that 2021 results not comparable to 2020 as in 2021 NMM acquired two companies and is expected to increase its available days by 85% in 2021 and by 171% in 2022 compared to 2020. For 2021 contracted revenue is expected to generate $12.6 million in excess of total fleet expense. I mean when we did the transaction we - when we did the transaction we're about 35%, we increased our debt to about 35%. Also, we agreed to acquire a new building Capesize vessel for $31.6 million. 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. We have question from the line of Randall Giveans of Jefferies. No, yes, that makes sense. For the nine months of 2021 NMM generated $445 million, $269.8 million in adjusted EBITDA and $398.6 million in net income. Yes, the essence of the diversified fleet. Just trying to understand, if that's actually sort of impacting your operations outside of just sort of the rate impact. Angeliki Frangou has been our Chairwoman and CEO since August 25, 2005. We actively renew and expand our fleet. And this is something that actually has benefited quite significant on these market, especially on the container. And that is something that we are not shy doing. I'll now pass the call to George Achniotis, Executive Vice President of Navios Development, to discuss the [indiscernible]. 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"). 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. I'd like to turn the floor back over to Angeliki Frangou for any closing remarks. Our cash balance was $141.2 million as of September 30, and we have 28.3% in net LTV. 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. So basically we can fix and you have seen in the container segment we fix multi-year contracts. So this is a net benefit, the inefficiency. It should be noted that about 73% of the orderbook is for 13,000 TEU vessels or larger. Everything works well, as long as the logistics chain is unchallenged. However, [indiscernible] quarters along with global oil demand returning to 2019 levels have brought OECD inventories below their 5-year average. In concluding our drybulk sector review, demand is forecast to outpace net fleet growth in both 2021 and '22, a strong demand for natural resources combined with continuing COVID-related logistical disruptions and a slowing pace of new building deliveries, all support healthy levels of current and future freight rates. I will briefly review Navios' financial results for the Fourth Quarter and Year Ended December 31, 2020. Not only does diversification provide strength but it also brings opportunity. 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. Next, Ms. Tsironi will give an overview of Navios Partners financial results. Notwithstanding this accounting in [indiscernible], economically, our investment has significantly increased in value. Definitely looks well-timed and a good overall return. And we have seen it. The average Q3, 2021 time charter equivalent rate achieved per segment was Bulkers, $28,926 per day.

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