The floor is now open for questions. 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. Turning to Slide 20. Shipping is always very, very profitable. This factor stimulus has led to historic turnaround in global container trade. Basically, I mean, we see a lot of value on both segments. In addition, Russia and Ukraine account for about one third of the global wheat supply and 186.7 million tons of seaborne coal. At the same time, but there is increasing industrial production and economic growth in China.
How to pronounce Angeliki Frangou | HowToPronounce.com Angeliki Frangou Net Worth Her net worth has been growing significantly in 2020-2021. This concludes my presentation.
Angeliki Frangou sees optimism amid chaos :: Lloyd's List She is not dating anyone. 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. But most important is we need to have the right conditions. Governments having put in place emergency monetary and fiscal plans to support their economies has kick-started faster than expected recovery in the world economy. The nominal GDP today is exponentially higher than compared to the nominal GDP of 50 years ago. The transaction based scale through a larger diversified asset base with an increased earning capacity. Then Mr. Achniotis will provide an operational update and an industry overview. So all these unique things that we see on the supply chain happening, these vessels we think is a good match. About one-third of our fleet will be in each of the dry . His daughter. Thank you, Angeliki, and good morning. And lastly, we'll open the call to take questions. So this is basically what we have been doing and what we are seeing developing. The move would be a financial windfall for Frangou, who owns 30.6%, TradeWinds is part of DN Media Group. We expect to be able to provide more predictable returns to our unitholders despite uneven sector performance. Please turn to Slide 18. Based on yesterday's closing price of Navios Containers units, our investment amounts to over $110 million. 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. For more information and how to manage your privacy settings, please refer to our privacy and cookie policies. CEO and Chairwoman Angeliki Frangou recently disclosed a 40.8% ownership stake on an as-converted basis and indicated her intention to purchase additional common shares for up to $20 million. 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"). 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. Indeed, in the US, air travel is at 2019 levels, she explained. I will briefly review our unaudited financial results for the third quarter and nine months ended September 30, 2021. Moreover, Navios optimizes its flexible chartering strategy to leverage on fundamentals across its three sectors and calibrate charter 10 based upon segment opportunity. And the tanker sector is just coming off - just coming up from a very low point, which was the lowest point in Q3. 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 2021 contracted revenue is expected to generate $12.6 million in excess of total fleet expense. The vessel we expected to be delivered in the second half of 2022. The BDI average for Q3 was 3,732, the highest quarterly average since 2008. 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 . Second, the war in Ukraine and sanctions on Russia have also introduced supply shocks.
LEADERS Interview with Angeliki Frangou, Chairman and Chief Executive About 91% of our debt is covered by the scrap value of our vessels alone. I noticed in the release, and you mentioned it also in your comments, just about securing drybulk charters in the period market when the time makes sense. The current average contracted net rate of the four vessels is approximately $2,600 per day. Slide 6 goes through recent developments. Well, thanks, Angeliki for your comments. "In terms of future prospects, I am optimistic but I wish it were for different reasons," she said. Turning to Slide 12. So, starting off with the merger, your fleet is clearly massive, it's diverse. This will be a transformative transaction for Navios Partners and will carry the significant benefits of diversification. Obviously it's been a large factor in the market, but has that lack of visibility to sort of the core demand created any sort of headwind to getting business done on the container shipping - just this is actually more pertinent to the container shipping side. We have a large modern diverse fleet of 85 vessels with a total capacity of 7.8 million deadweight tons. 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. First COVID stimulus measures have caused a sharp recovery of demand for goods in Western OECD economies as noted on the two lower charts. The battle follows four legal notices filed by Frangos in.
Navios Maritime Partners L.P. Secures Unitholder Approval and Completes It should be noted that about 73% of the orderbook is for 13,000 TEU vessels or larger. Containers $22,418 per day, and Tankers $15,066 per day. For the nine months of 2021 NMM generated $445 million, $269.8 million in adjusted EBITDA and $398.6 million in net income. As you can see on Slide 4, pro forma for the merger, NMM will have 85 vessels. We are 86, which I think is a rather big percentage for our drybulk to be open. We have question from the line of Randall Giveans of Jefferies. The container segment began strengthening in the third quarter of 2020, while the dry bulk market become turning in 2021. 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. Your balance sheets in great shape. NMM has an enhanced base to generate free cash flow. I mean, you have much larger asset base. $690 million of contracted revenue. You can read more about how we handle your information in our privacy policy. In the East China is struggling with its zero Covid strategy.. It can be accessed online at: http://edition.cnn.com/video/#/video/business/2013/02/19/leading-women-angeliki-frangou-daniela-mercury.cnn. You can pay down debt aggressively, you can reward shareholders aggressively and you can actually acquire assets fairly aggressively. Part 2 highlights Angeliki Frangou's leadership and the growth of the Navios Group. 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. Angeliki Frangou led the creation of approximately $4 billion in total value at the Navios Group, comprised of four global maritime shipping and logistics companies, three of which trade on the New York Stock Exchange, including Navios Maritime Holdings Inc. (NYSE: NM), Navios Maritime Partners L.P. (NYSE: NMM) and Navios Maritime Acquisition Corporation (NYSE: NNA). 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 . On the grain side, global grain trade continues to be supported by an ever-increasing world population. Thank you, Stratos.
20 Angeliki Frangou, Navios :: Lloyd's List Furthermore, protocols for contactless operations and repatriations have been created and IT systems were overhauled to facilitate all these. Everything works well, as long as the logistics chain is unchallenged. Slide 13 shows the details of our combined fleet, giving effect of the merger of Navios Containers. 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. The structure provides for an effective purchase price of $41.5 million and an effective interest rate fixed for a festive period of 4.4%. Rates in all asset classes rose sharply reflecting surging trade driven by strong demand for both major and minor bulk commodities. This completes our quarterly result for NMM. There are 2 older and 5 younger executives at Navios Maritime Acquisition Corp. Our merger with Navios Maritime Containers was approved and is expected to close on March 31, 2021. The recently rapid market recovery has caused extremely high demand for available tonnage, which is in short supply across all segments. The increase were mitigated by a 17.4% decrease in the time charter equivalent rate achieved in the fourth quarter of 2020. New York-listed bulker owner Navios Maritime Holdings has room to lower debt further after a very profitable fourth quarter. Navios is a socially conscious group with core values include diversity, inclusion, and safety. Its impossible to know what this all means, she underlined, adding that there are too many potential consequences to digest and analyze. On Slide 8, we lay out global GDP growth since 1970. Even with the increase in new building orders, demand is forecast to outpace net fleet growth in both 2021 and '22. Turning to Slide 25, VLCC net fleet growth is projected at 3.6% for 2021 and only 1.6% for '22. If you have an ad-blocker enabled you may be blocked from proceeding. To access the webcast, please go to the Investors section of Navios Partners' website at www.navios-nlt.com. We have finalized an additional $58 million loan, which will be used to finance the acquisition of 2 vessels and refinance an existing facility. CNN International's Leading Women with Becky Anderson airs every Tuesday on News Stream at 9:00 pm HKT/ 1:00 pm GMT / 8:00 am ET and Connect the World with Becky Anderson at 5:00 am HKT / 9:00 pm GMT / 4:00 pm ET. All grain production this year will reach a record according to the international gains counting and the USDA. Ms. Frangou is also a Member of the Foundation for Economic and Industrial Research. So you always have to be very alert to see what is the best area where the opportunity lies. Slide 7 sets forth key strength of the compliance entity. As previously mentioned, stimulus measures have caused recovery of consumption in the advanced economies. For returning coal high gas prices have driven power plants to switch back to coal-fired power generation, and the IEA estimates that global coal-fired electricity generation is expected to rise by nearly 5% this year and exceed pre-pandemic levels before increasing a further 3% to an all-time high in 2022. The net result is that we should have more predictable entity level return. But overall, today the biggest thing that we have to see is that we have created operationally a unique platform. 2021 2023 Navios South American Logistics Inc. All rights reserved. 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. The proceeds of these new financing agreements together with available cash will be used to repay all outstanding Ship Mortgage Notes and redeem an additional $50.0 million of Senior Secured Notes (after which $105.0 million will remain outstanding). Vessels over 20 years of age are about 8.6% of the total fleet, which compares favorably with the historically low orderbook. Angeliki Frangou. That makes sense. We see good - we see a good market potential, but we have to see it realize. These together with near record low orderbook could boost crude and product tanker rates in the near term. Now I will review the safe harbor statement. 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. Angeliki Frangou is Chairman/CEO at Navios Maritime Holdings Inc. See Angeliki Frangou's compensation, career history, education, & memberships. Service was accepted by Israel David. What we have done is that, we have created a fortress balance sheet by chartering the container sector, which is extremely strong. As Angeliki mentioned earlier, today, the Navios Containers unitholders approved the measure of Navios Partners. The container segment began strengthening in the third quarter of 2020, while the dry bulk market become turning in 2021. The full results of operation of Navios Containers will be included in Navios Partners comments commencing April 1, 2021. You building contracting was down 56% in 2020 compared to '19. We consolidated our separate activities in dry bulk and in containers and in tanker under one roof. While also allowing us to leverage each independent sectors fundamentals. 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. The graph on the left shows that for '21, we have to demand for the 3 major cargoes of iron ore, coal and grain is focused on increased by over 3% compared to 2020. EN English Deutsch Franais Espaol Portugus Italiano Romn Nederlands Latina Dansk Svenska Norsk Magyar Bahasa Indonesia Trke Suomi Latvian Lithuanian esk Unknown 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. And we always get - we get advantage of this on the long-term period because they need of turner. The benefits of diversification are reflected in recent market activity. However, [indiscernible] quarters along with global oil demand returning to 2019 levels have brought OECD inventories below their 5-year average.
Angeliki Frangou Biography, Age, Height, Husband, Net Worth, Family Please turn to Slide 5. I am pleased with our results for the third quarter of 2021. 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 . To access the webcast please go to the Investors section of Navios Maritime Partners website at www.navios-mlp.com. Demand and restocking is expected to prove demand growth well above net fleet growth, supporting the recent dramatic rising rates. On a combined basis, about 1/3 of our available days are open or interest team providing market exposure to capture market upside. Using the client market average time charter rate of $23,549 per day, we believe NMM is well positioned for a strong 2021. Overall our diversified platform should provide flexibility, allowing us to capitalize across segment opportunities. Year-to-date in 2021 our fleet increased by 163% in terms of number of vessels to 88 net vessel additions. I now pass the call to Eri Tsironi, our CFO, which will take you through the financial highlights. Navios Maritime Partners L.P. (NYSE:NMM) Q3 2021 Earnings Conference Call November 10, 2021 8:30 AM ET, George Achniotis - EVP, Business Development. 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. As of September 30, we had a total cash of $141.2 million and borrowings of $1.4 billion. 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. Got it. 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. Net debt/book capitalization was at a comfortable level of 41.7%. 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. Post pandemic stimulus measures in the advanced economies and increasing industrial production has fueled demand for the three major bulk cargos, specifically the iron ore global trade is expected to grow by 3.4% in 2021 and 2.4% in '22. At the same time, being active in multiple sectors reveals opportunities. 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. So we're creating this with this different two tier financing.
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" ). At Navios, the pandemic galvanized us. 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. 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 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. Angeliki? We see that it is a different set of fundamentals important. This will be a transformative transaction for Navios Partners and will carry the significant benefits of diversification. 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.
Navios Maritime Partners' (NMM) CEO Angeliki Frangou on - SeekingAlpha Terms of the bail-out package will likely result in Ms. Frangou regaining full control of Navios Maritime Holdings. 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. Not only does diversification provide strength but it also brings opportunity. 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. The pandemic changed everything. 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. She also serves as the Chairman and Chief Executive Officer of Navios Partners L.P. and Navios Maritime Acquisition Corporation. We have 27,437 open in index days that can generate significant operating cash. 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. 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. And we have seen that, we have $1.6 billion contracted revenue on containers, $2.2 billion overall on the company. Please turn to Slide 26, focusing on the container industry. $12.8 million is adjusted net income and $1.12 is adjusted earnings per unit. During Q3, Navios Partners recorded revenue of $228 million, adjusted EBITDA of $145.2 million and net income of $162.1 million. Conditions are not as favorable elsewhere. This complete formal presentation and we open the call to questions. I think that will give us a long-term view on the right. And overall we like to have a low leverage. I think this is something that we are very [technical difficulty]. 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. Just trying to understand how you're thinking about the work to be done on that side?
Angeliki Frangou - Wikipedia 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? Our fleet consists of 49 dry bulk vessels and 26 Containerships. But the reality is just to go back to your question is, is the following thing, I mean, the capacity of the ship - the shipyard capacities has been full, and also we see that materials maybe going up. This concludes my presentation, I would now like to turn the call over to Angeliki for her final comments. Importantly, the precent of decrease perhaps understates the impact. Now 30,000 is a very good level.
Please. And this is the strategy going forward. Also - good afternoon and also congratulations on there, your first call here post-merger. During the quarter ended September 30, 2021 we had 9,027 available days compared to 4,499 days for Q3, 2020. At Navios, the pandemic galvanized us. 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. Click to read the full policy [+]. The increase was mainly due to the 39.3% increase in available days in Q4 2020. PIRAEUS, GREECE--(Marketwire - Feb 27, 2013) - Angeliki Frangou, Chairman and CEO of the Navios Group of Companies, is featured on CNN International's Leading Women with Becky Anderson in a three Part Series airing this month. Navios Partners does not assume any obligation to update the information contained in this conference call.
Angeliki Frangou, Navios Maritime Holdings Inc: Profile and Biography Celebs Wiki Angeliki Frangou fans also viewed: Daniel David Turning to Slide 15, you can our ESG initiatives. Part 1 of the interview examines Angeliki Frangou's start in business and development of the Navios Group of Companies. I'll turn it over. Big picture just, you should understand that all the inefficiency is net positive for our business. Currently in our Containership segment, given the continued strength over the market we have been locking in long-term charters. 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. Trial in London this week will aim to settle the siblings' complicated business arrangements. During Q3 NMM generated $228 million in revenue and $145.2 million in adjusted EBITDA and $162.1 million in net income. From November 1st DN Media Group is responsible for controlling your data on TradeWinds. Please move to Slide 9 which provide some selected segment data. 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. We believe the sum is significantly more resilient than the individual parts. Turning to Slide 12, you can see some fleet and debt updates. Turn to Slide 18. But purely the volatility that we show create, you know, people are still waiting to make an assessment on period. And what we are looking is how this investment we did will play. 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. [Operator Instructions]. Angeliki? This resulted in a reduction of interest expense for 2020 by approximately $15 million compared to 2019. 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. The remaining 34% of available base that are open all on indexing chargers provided with more upside. Angeliki Frangou led the creation of approximately $4 billion in total value at the Navios Group, comprised of four global maritime shipping and logistics companies, three of which trade on the. Post-merger NMM will have approximately 19.7 million units outstanding. If you have an ad-blocker enabled you may be blocked from proceeding. We have currently fixed 66% of our 29,526 available days for 2021. Angeliki? And NMM already has more than that contracted for 2021. It will take some time, I mean, there is good, I mean, we show volatility, we went to gates from 80,000, we are down to around 30,000. The merger is a week away now, right, so congrats on that. These vessels were acquired for an aggregate purchase price of $370 million. 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. And today we fix over four years, and you know with 2.5 times the rate. Just curious there. Sure. 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. 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. 2021 dry bulk trade is projected to increase by 3.7%, and further increased by 2.2% in '22. George? 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. Ms. Frangou has also been the Chairwoman and Chief Executive Officer of Navios Maritime Holdings Inc. (NYSE: NM). So basically we can fix and you have seen in the container segment we fix multi-year contracts. 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. Forward-looking statements are statements that are not historical facts. I now pass the call to George Achniotis, Executive Vice President of Business Development to discuss the industry section. We also agreed to sell for vessels having an average age of 13 years for a total sales price of $42.8 million. Yes, thank you. Moving to the 12-month operations. 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 . Chinese steel production surpassed the 1-billion tons mark in 2020. Demand is forecast to outpace net sales growth in both 2021 and '22. We don't have much information about She's past relationship and any previous engaged. The addition also provides flexibility in our operational and financial strategies as we charter, sell and purchase vessel and obtain debt finance. We'll go next to Omar Nokta, Clarksons Securities. 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. NMM is well positioned to benefit from the different sector fundamentals. The information set forth herein should be understood in light of such risks. Angeliki Frangou biography. 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. A couple of questions. Such risks are more fully discussed in Navios Partners filings with the Securities and Exchange Commission.