2021 2023 Navios South American Logistics Inc. All rights reserved. Containers $22,418 per day, and Tankers $15,066 per day. 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. The floor is now open for questions. We will be profitable in Q4 as contracted revenue exceeds total expenses by $57 million. And lastly, we'll open the call to take questions. Total revenue for Q3, 2021 was $228 million compared to $64 million for the same period last year due to the expansion of our fleet and the improved time charter equivalent rate for both containers and bulkers. Ladies and gentlemen, this does conclude today's conference call. However, the pandemic broke the logistics chain and basic materials had to be airlifted to combat shortages. We are about two years below industry average. Frangos claims his sister owes his company, First Lines, $1.18m, TradeWinds is part of DN Media Group. The approved merger with Navios Container is expected to close on March 31. We have also chartered out 4,250 TEU containerships for periods between 3.5 years and 4.5 years, generating revenues of approximately $270 million. convertible debentures (the "Convertible Debentures"). According to our Database, She has no children. 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. And today we fix over four years, and you know with 2.5 times the rate. Angeliki Frangou (born 1965) ( Greek: ) is a Greek shipowner. 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. 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. 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. This completes our quarterly result for NMM. I would now like to turn the call over to Angeliki for her final comments. Thank you. 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. Moreover, the large asset base will provide the entity a significant parcel of collateral value. Conditions are not as favorable elsewhere. Please move to Slide 9 which provide some selected segment data. And you need to be always running the different scenarios. Governments having put in place emergency monitor and fiscal plans to support the economies have kick-started faster than expected the recovery in the world economy. 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. Pro forma for the merger, our company will be 1 of the 10 largest public listed dry cargo fleet. Moreover, Navios optimizes its flexible chartering strategy to leverage on fundamentals across its three sectors and calibrate charter 10 based upon segment opportunity. 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. I think that will give us a long-term view on the right. At the same time, being active in multiple sectors reveals opportunities. 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. 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 We are a premier dry cargo shipping platform with about $900 million of contracted revenue. http://edition.cnn.com/video/#/video/business/2013/02/12/leading-women-angeliki-frangou-navios-shipping.cnn, http://edition.cnn.com/video/#/video/business/2013/02/19/leading-women-angeliki-frangou-daniela-mercury.cnn, http://edition.cnn.com/SPECIALS/leading-women. And we have market exposure of 53.5% of our days for this year. I mean when we did the transaction we - when we did the transaction we're about 35%, we increased our debt to about 35%. Leverage remains very low and net loan to value is 28.3% in an asset base estimated at over $4.5 billion. To read more about DN Media Group, EN English Deutsch Franais Espaol Portugus Italiano Romn Nederlands Latina Dansk Svenska Norsk Magyar Bahasa Indonesia Trke Suomi Latvian Lithuanian esk Unknown Our market exposure days are calibrated towards drybulk and tanker vessels, while about 88% of our containerships are fixed. 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. So this is basically what we have been doing and what we are seeing developing. Angeliki Frangou, chief executive of Navios Maritime Holdings and Navios Maritime Partners speaks at a company dinner at the National Gallery in Athens in June 2022. The increase were mitigated by a 17.4% decrease in the time charter equivalent rate achieved in the fourth quarter of 2020. Yes, we have put out some details also in our press release today. Demand and restocking is expected to prove demand growth well above net fleet growth, supporting the recent dramatic rising rates. You need to wait and see that market develop. 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. 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. As I mentioned previously, Navios Partners is one of the largest U.S. publicly listed companies with over 140 vessels. Not only does diversification provide strength but it also brings opportunity. Please turn now to Slide 24 for the review of the tanker industry. Importantly, the precent of decrease perhaps understates the impact. The agenda for today's call is as follows. I wrote this article myself, and it expresses my own opinions. We have a contracted revenue pipeline of about $2.2 billion and about 58% of our 2022 available days are currently exposed to the market. 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. This will be a transformative transaction for Navios Partners and will carry the significant benefits of diversification. Time charter revenue for the year increased to $226.8 million compared to $219.4 million in 2019. Yiayia Aggela in the 1980s with her husband, children Yianni and Sofia, her son-in-law, and a grandson. I'm also proud to be working with the social countries group whose core values include diversity in [indiscernible] and safety. 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 . At Navios, the pandemic galvanized us. The move would be a financial windfall for Frangou, who owns 30.6%, TradeWinds is part of DN Media Group. Could you just give a flavor of sort of what the liquidity looks like from your perspective in terms of deploying the drybulk fleet away from spot on to time charters. As you can see on Slide 4, pro forma for the merger, NMM will have 85 vessels. We'll go next to Omar Nokta, Clarksons Securities. Turning to Slide 19. Fleet utilization for the fourth quarter of 2020 was almost 100%. Click to read the full policy [+]. 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. 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? Turning to Slide 12. Founder of Maritime Enterprises Management SA, Angeliki N. Frangou is a businessperson who has been at the helm of 14 different companies and currently occupies the position of Chairman at IRF European Finance Investments Ltd., Chairman & Chief Executive Officer at Navios Maritime Partners LP, Chairman & Chief Executive . Thank you, Stratos, and good morning all. Our contracted revenue alone exceeds our total fleet expenses by $12.6 million. Through mid-March 2020 21, contracted is down by about 62% compared to the same period last year. If we find opportunities, we can always expand. 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. And then now that, obviously, the dry bulk and containership markets are both extremely strong. 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. However, we do not take that for granted. 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 . 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. 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. One of the lowest on record. 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 have been taking advantage of robust market, NMM has $2.2 billion of contracted revenue. Our net debt to capitalization is 43.5%, and our debt maturities are targeted through 2030. With the help of a strong second half 2020 ended the year with a BDI averaging 1,066. On the grain side, global grain trade continues to be supported by an ever-increasing world population. I think the sales of the older ones will slowly reduce that or I guess keep it relatively young. We have a large modern diverse fleet of 85 vessels with a total capacity of 7.8 million deadweight tons. Thank you. Early life and education [ edit] Please turn to Slide 27. 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. But on this containership opportunity, how repeatable could you say that deal is? 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. Sure. Indeed, in the US, air travel is at 2019 levels, she explained. Net fleet growth is expected to remain low over the next 3 years, as the order book is the lowest or effort. You may disconnect at any time. However, [indiscernible] quarters along with global oil demand returning to 2019 levels have brought OECD inventories below their 5-year average. These together with near record low orderbook could boost crude and product tanker rates in the near term. Its impossible to know what this all means, she underlined, adding that there are too many potential consequences to digest and analyze. Finally, we have very strong corporate covenants at corded efforts. Angeliki Frangou (nee Papi) was born in Ikaria in November 1915. . 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. So basically we can fix and you have seen in the container segment we fix multi-year contracts. We don't have much information about She's past relationship and any previous engaged. Adjusted EBITDA for 2020 amounted to approximately $100 million compared to $120 million 2019. 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. Additionally, we have a staggered maturity profile with no significant maturities through 2023. 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. The holder of the Convertible Debentures will be entitled to vote on an "as converted" basis along with the company's common shareholders. 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. Sure. 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 . As you can see on Slide 4, pro forma for the merger, NMM will have 85 vessels. 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. The vessel we expected to be delivered in the second half of 2022. In the West, the worst impacts of Covid appear to be fading. In this process, we have been pioneering and are adopting certain environmental regulations up to 2 years in advance. But I'm talking about as a portfolio, you'd like to keep an age profile characteristics somehow on a certain level. The current order book stands at a record low of 5.7% of the fleet. 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. But on the other side, we are very exposed to the market. As of September 30, we had a total cash of $141.2 million and borrowings of $1.4 billion. The average combined Q3, 2021 franchise equivalent rate of our vessels increased by 79%, $24,447 per day. Now I turn the call over to Navios Partners' Chairman and CEO, Mr. Angeliki Frangou. Now I turn the call over to Navios Partners, Chairwoman and CEO, Ms. Angeliki Frangou. We see good - we see a good market potential, but we have to see it realize. But overall, today the biggest thing that we have to see is that we have created operationally a unique platform. You have a huge fleet, and you have a break-even per open day of 2,460. 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. Conclusion, positive demand fundamentals, mainly due to the restart of economic activity around the world, along with reduced fleet availability to support the container shipping industry. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. [Operator Instructions] We take our first question from Randy Giveans with Jefferies. 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. I wrote this article myself, and it expresses my own opinions. 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. The net book is expected to close on March 31, 2021. Overall, world grain sales increased by 7.7% in 2020 is expected to increase by about 2% in '21. But don't forget, we are 86% of our available days open on drybulk. Just trying to understand how the fee through there. Angeliki Frangou has been the Chairman and Chief Executive Officer of Navios Maritime Holdings Inc. (NYSE: NM) since August 25, 2005. In Slide 14, you can see the latest update on our fleet. It doesn't sound like it has, but curious if there's any sort of hold back because of that lack of visibility. We understood that with over 4,000 sailors at sea, when the phone rang, we had to answer it. But those of us in shipping will try to understand the impact of all these things based on a simple metric on ton miles the cost of shipping one ton of freight for one mile. I mean, you have much larger asset base. We did see one thing that we showed as a great opportunity on the container segment, we show that the smaller vessels and this is a widebody, the 5,500 TEU. Please turn to Slide 5. 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. Cash and cash equivalents was $30.7 million. Then Mr. Achniotis will provide an operational update and an industry overview. Angeliki? If you have an ad-blocker enabled you may be blocked from proceeding. 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. About 91% of our debt is covered by the scrap value of our vessels alone. These vessels were acquired for an aggregate purchase price of $370 million. So this is a net benefit, the inefficiency. I think the - you can find one year versus three year, you have basically today discovering hugely. We can be very comfortable watching the drybulk market develop, we have 86% of our available days in the drybulk open to the market exposure because we are bullish on that. So you always have to be very alert to see what is the best area where the opportunity lies. 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. Using the client market average time charter rate of $23,549 per day, we believe NMM is well positioned for a strong 2021. The container segment began strengthening in the third quarter of 2020, while the dry bulk market become turning in 2021. The diversification allows us to balance a chartered strategy across different business segments, optimizing the profit potential with cash flow certainty. Ms. Frangou has also been the Chairwoman and Chief Executive Officer of Navios Maritime Holdings Inc. (NYSE: NM). Excluding these items, total adjusted EBITDA for Q3 amounted to $145 million compared to $31 million for the same period last year. We continue to renew our fleet and improve average profile. A London High Court trial is under way in a complex dispute between Greek shipowner Angeliki Frangou and her brother, John Frangos. Net loan-to-value is about 28.3% in an asset base estimated at over $4.5 billion. Now I will review the safe harbor statement. 2021 drybulk trade is projected to increase by 4.5% and further increase by 2.9% in '22. We have 27,437 open in index days that can generate significant operating cash. You can read more about how we handle your information in our privacy policy. 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. As a result, we re-imagined the modern shipping company. 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. And what we are looking is how this investment we did will play. Thank you. But one of the things I'll say is that, we see visibility on chartering - the demand for charters, if I answer your question. Then Mr. Achniotis will provide an operational update and an industry overview. Thank you for your participation. Ms. Frangou also spends a significant amount of time cultivating new and existing commercial relationships with financial institutions, industrial partners and shipyards. She is not dating anyone. And how will you balance that with maybe unit repurchases as you're still trading at a pretty massive discount to NAV. Document filed by Norman Roberts. I think that one issue that I faced, no matter was on 140 vessel fleet, you will have some replacement. Over the PIK Period, I would estimate the amount of Convertible Debentures held by NSM to increase to almost $100 million, sufficient for Angeliki Frangou to regain full control of Navios Maritime Holdings. I guess, first, for the vessel sales and purchases, it seems like you're obviously adding some dry bulk exposure while shedding some containership exposure. Angeliki Frangou is Chairman and Chief Executive Officer of Navios Holdings. Please. We have arranged the new facility of $72.7 million for the refinancing of three existing facilities with short and medium term durations. As a result, the balance sheet of Navios Acquisition together with the respective purchase price allocation adjustments are included in Navios Partners balance sheet as at the end of the quarter. This factor stimulus has led to historic turnaround in global container trade. Just wanted to actually ask about how you're thinking about the capital structure from here. Ms. Frangou is also a Member of the Foundation for Economic and Industrial Research. 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. We have fixed 10 of our containerships for long durations, creating approximately $690 million in contracted revenue. Building us a significant base of collateral value. 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 . 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. 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. Forward-looking statements are statements that are not historical facts. In 2017-18, Ms Frangou took advantage of lower asset prices to acquire 12 bulkers for mother company Navios Maritime Holdings and another 12 for Navios Partners.

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