Maritime shipping is the most environmental friendly means of transportation as it is the most carbon efficient mode of transport. Finally, turning to Slide 26, product tanker net fleet growth projected at 2.4% for 2021 and only 1.9% for '22. Ms. Frangou also spends a significant amount of time cultivating new and existing commercial relationships with financial institutions, industrial partners and shipyards. About one-third of our fleet will be in each of the dry . This will be the highest digital rate in the past 50 years. The group controls approximately 100 drybulk and tanker vessels transporting products ranging from grains, soy, and iron ore to chemicals and petroleum. Angeliki Frangou (left) is seen with her brother John Frangos in 2012. Holders of the company's preferred shares (NYSE:NM.PG and NYSE:NM.PH) will have to hope for a Navios Maritime Holdings / Navios Partners merger as otherwise there's no reasonable chance for these securities to recover. 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. 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. Thank you. I think that will give us a long-term view on the right. Basically, I mean, we see a lot of value on both segments. Thank you, Stratos. 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. Focus are also for growth in iron ore imports around the world as the effects of the pandemic received. Angeliki Frangou has been our Chairwoman and CEO since August 25, 2005. 2021 2023 Navios South American Logistics Inc. All rights reserved. Part 3 recaps Angeliki Frangou's career and the Navios Group. Please disable your ad-blocker and refresh. Well, thanks, Angeliki for your comments. And this is something that actually has benefited quite significant on these market, especially on the container. In particular, the extremely tight availability of Panamaxes, combined with poor congestion, increasing trade and lack of new buildings has proper period time charter rates to keep 13-year highs of $37,000 per day for periods after a year. Long-term borrowings, including the current portion, net of deferred fees amounted to $486.9 million. Included in this adjustment is a $42.6 million impairment on our investment in Navios Containers, bringing its book values to approximately $25 million. For simplicity, the discussion of the financial results below exclude the effect of the one-off items listed in this slide. Angeliki Frangou has been Navios Logistics' Chairwoman and a Member of the Board of Directors since its inception in December 2007. Just wanted to actually ask about how you're thinking about the capital structure from here. We consolidated our separate activities in dry bulk and in containers and in tanker under one roof. You can read more about how we handle your information in our privacy policy. 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. First, the pandemic highlighted the weakness of just in time manufacturing. People seem to have concluded that you cannot reliably provide goods if the system has a single point of failure. According to our Database, She has no children. Scrapping totaled 16 million tons in 2020, almost doubles the 2019 total. We also continued to renew and expand our fleet. Turning to Slide 25. We use your data to ensure you have a secure and enjoyable user experience when visiting our site. Slide 7 reviews our recent development. Bank accounts of leading Greek shipowner Angeliki Frangou have been frozen by Greek judicial authorities investigating lending by Marfin Bank, which is now under the control of Piraeus Bank,. In just the last month, sub trade time charter rates have hit 10-year highs in what is normally a seasonal low period. For the full year of 2020, Navios Partners reported revenue of $226.8 million and adjusted EBITDA of $99.8 million. The round up show premieres on the 4th Wednesday of every month. 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. Angeliki Frangou is Chairman and Chief Executive Officer of Navios Holdings. click here. 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. Thank you, Angeliki, and good morning. Also - good afternoon and also congratulations on there, your first call here post-merger. Fleet utilization was approximately 99%. 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! 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. This - the advantage we took on the container vessels gave us a historically low break-even of $2,469 per open day in 2022. 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 . We actively renew and expand our fleet. Just curious there. 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. Second, the war in Ukraine and sanctions on Russia have also introduced supply shocks. 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. I think a low leverage is a big driver to our model. We expect to be able to provide more predictable returns to our unitholders despite uneven sector performance. New York-listed bulker owner Navios Maritime Holdings has room to lower debt further after a very profitable fourth quarter. We understood that with over 4,000 sailors at sea, when the phone rang, we had to answer it. And lastly, we'll open the call to take questions. 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. Adjusted EBITDA for 2020 amounted to approximately $100 million compared to $120 million 2019. Angeliki Frangou (born 1965) (Greek: ) is a Greek shipowner. In addition, Ms. Frangou has been the Chairman and Chief Executive Officer of Navios Maritime Partners L.P. (NYSE: NMM), an affiliated limited partnership, since August 2007, the Chairman and Chief Executive . The battle follows four legal notices filed by Frangos in Greece late last year, containing a raft of accusations against his sister and two companies she controls. 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. We don't have much information about She's past relationship and any previous engaged. We have been profitable in Q4 as contracted revenue exceeds total expenses by $57 million, yet we still have about 2,473 open and index-linked days. 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. Please move to Slide 9 which provide some selected segment data. 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. It can be accessed online at: http://edition.cnn.com/video/#/video/business/2013/02/19/leading-women-angeliki-frangou-daniela-mercury.cnn. Additionally, we have a staggered maturity profile with no significant maturities through 2023. Read more about DN Media Group here. Our office had to remain open. We believe the sum is significantly more resilient than the individual parts. The increase was mitigated by 20.9% decrease in the Time Charter Equivalent rate achieved in 2020. We have fixed 10 of our containerships for long durations, creating approximately $690 million in contracted revenue. We stand at the crossroads, perhaps the crossroads of history. 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. 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. The vessel we expected to be delivered in the second half of 2022. I wrote this article myself, and it expresses my own opinions. You'll see the webcast link in the middle of the page and a copy of the presentation referenced in today's earnings conference call will also be found there. 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 . Is that a repeatable opportunity you think? 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. The remaining 34% of available base that are open all on indexing chargers provided with more upside. I would now like to turn the call over to Angeliki for her final comments. The large entity will benefit from a simplified capital and an organizational structure, thereby, reducing costs. 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. The merger is a week away now, right, so congrats on that. Its impossible to know what this all means, she underlined, adding that there are too many potential consequences to digest and analyze. Everything works well, as long as the logistics chain is unchallenged. And lastly, we'll open the call to take questions. But one of the things I'll say is that, we see visibility on chartering - the demand for charters, if I answer your question. The addition also provides flexibility in our operational and financial strategies as we charter, sell and purchase vessel and obtain debt finance. I am pleased with our results for the third quarter of 2021. On average, we are approximately just over $15,000 chartered on the dry side and around $17,000 on the containerships. 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. This concludes my presentation, I would now like to turn the call over to Angeliki for her final comments. We also anticipate that diversification and scale should make NMM a more attractive investment platform as we take advantage of global trade patterns. Sometimes it's in newbuildings, sometimes it's in secondhand vessels in different sectors. You need to wait and see that market develop. 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. Ms. Frangou has also been Chairwoman and CEO of Navios Holdings (NYSE: NM) our sponsor since August 2005. Notwithstanding this accounting in [indiscernible], economically, our investment has significantly increased in value. Service was accepted by Israel David. My historical focus has been mostly on tech stocks but over the past couple of years I have also started broad coverage of the offshore drilling and supply industry as well as the shipping industry in general (tankers, containers, drybulk). Based on yesterday's closing price of Navios Containers units, our investment amounts to over $110 million. The current orderbook is 8.3% of the fleet. As you can see in the blue box on the lower right, increases in demand for goods, port congestion and restocking will lead to container demand growth of 6.3% in 2021, and 3.9% in '22. The 2020 decrease is mainly attributable to Indian and Chinese imports declining by 13.8%, respectively. "In terms of future prospects, I am optimistic but I wish it were for different reasons," she said. 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. We have very strong corporate governance and clear code of ethics. About 91% of our debt is covered by the scrap value of our vessels alone. And we always get - we get advantage of this on the long-term period because they need of turner. 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. All grain production this year will reach a record according to the international gains counting and the USDA. And to capture the spot market and wait for the period market to come. In the East China is struggling with its zero Covid strategy.. Navios has deescalating [indiscernible] options on the vessels starting in year 4 before the charter generation. The recently rapid market recovery has caused extremely high demand for available tonnage, which is in short supply across all segments.