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. The increase were mitigated by a 17.4% decrease in the time charter equivalent rate achieved in the fourth quarter of 2020. We are focusing on taking advantage of the different fundamentals across the sector we operate to maximize profitability. Now I turn the call over to Navios Partners, Chairwoman and CEO, Ms. Angeliki Frangou. As a reminder, this conference call is being webcast. You building contracting was down 56% in 2020 compared to '19. Turn to Slide 18. CHARTERING OFFICER/MANAGER GAS CARRIERS/TANKERS, Panamax Chartering Manager, Chartering Broker. Now I turn the call over to Navios Partners' Chairman and CEO, Mr. Angeliki Frangou. Fortune: Greek Businesswoman Among 25 World's Most Powerful As of September 30, we had a total cash of $141.2 million and borrowings of $1.4 billion. I am not receiving compensation for it (other than from Seeking Alpha). 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. What is unique - what we like about this is vessel is about in the [indiscernible] flexible vessel at 260 meters, very nice dimensions, you can actually take advantage of the point to point transportation that is now developing the difference on the supply chains and from - and all these, you know just in time to just in case. 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. 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. I am mostly a trader engaging in both long and short bets intraday and occasionally over the short- to medium term. 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. Our merger with Navios Maritime Containers was approved and is expected to close on March 31, 2021. You know, it's like as we die. To read more about DN Media Group, For more information and how to manage your privacy settings, please refer to our privacy and cookie policies. 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. And that is something that we are not shy doing. Is this happening to you frequently? 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%. Actually, what we are doing is repositioning a fleet. Net fleet growth for 2021 is expected at 3.5% and only 1.5% for '22 below the projected increase in drybulk demand for both years. Rates in all asset classes rose sharply reflecting surging trade driven by strong demand for both major and minor bulk commodities. And do you have a maybe preference there in terms of repurchases or distribution increase? The realities we see our service as a growth platform that we're in the right part of the cycle, meaning we see great upside potential with our fleet. And we have seen that, we have $1.6 billion contracted revenue on containers, $2.2 billion overall on the company. First, Ms. Frangou will offer opening remarks. Angeliki Frangou is Chairman/CEO at Navios Maritime Holdings Inc. See Angeliki Frangou's compensation, career history, education, & memberships. 12 Ultra Rich Greeks Who Should Have Bailed Out Greece Themselves The result was a combination of the expansion of our fleet and the improved time charter equivalent rate. 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. We have a large modern diverse fleet of 85 vessels with a total capacity of 7.8 million deadweight tons. At the same time, but there is increasing industrial production and economic growth in China. 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. 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. 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. We are 86, which I think is a rather big percentage for our drybulk to be open. Angeliki Frangou - Net Worth February 2023, Salary, Age, Siblings, Bio NMM has $2.2 billion of contracted revenue. CHARTERING OFFICER/MANAGER GAS CARRIERS/TANKERS, Panamax Chartering Manager, Chartering Broker. Angeliki Frangou Net Worth Her net worth has been growing significantly in 2020-2021. Please disable your ad-blocker and refresh. Net fleet growth is expected to remain low over the next 3 years, as the order book is the lowest or effort. Is this happening to you frequently? Or is this purely a fleet renewal play? During the quarter ended September 30, 2021 we had 9,027 available days compared to 4,499 days for Q3, 2020. I mean, you have much larger asset base. 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. And this is something that actually has benefited quite significant on these market, especially on the container. 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. Okay. The above increase was partially -- the above decrease was partially mitigated by the $7.4 million increased revenues discussed above and $1.3 million decrease in Time Charter and volume expenses and a $1.1 million increase in net other income. 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 . Got it. What does the liquidity look like across the one year to three year time-frame? Excellent. The Leading Women with Becky Anderson Series can be viewed online at: http://edition.cnn.com/SPECIALS/leading-women. George? I think that will give us a long-term view on the right. Finally, we have very strong corporate covenants at corded efforts. For example, global GDP in 2019 equals $88 trillion, almost 30x the global GDP of $2 trillion in 1970. 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. In addition, lender Navios Shipmanagement Holdings Corporation or "NSM" received an upfront structuring fee of $24.0 million and an undisclosed amount of accrued interest and prepayments fees also in the form of Convertible Debentures. Just wanted to actually ask about how you're thinking about the capital structure from here. This is unique. This complete formal presentation and we open the call to questions. For the fourth quarter, we generated $35.5 million in adjusted EBITDA. Please turn to Slide 27. I will briefly review our unaudited financial results for the third quarter and nine months ended September 30, 2021. If you look at the graph on the right, net fleet growth is focused to be 2.6% this year and only 0.7% for '22. More specifically, we have contracted our six newbuilding containerships delivering in 2023 and 2024 for five years at an average rate of $37,050 net per day generating about $420 million of contracted revenue. Thank you. In the West, the worst impacts of Covid appear to be fading. Thank you, Angeliki, and good morning. We show some vessels that were older and smaller to more commercially attractive vessels. We also agreed to sell for vessels having an average age of 13 years for a total sales price of $42.8 million. Investors should avoid Navios Maritime Holdings' common shares and remain wary of a potential merger with Navios Maritime Partners to the detriment of the partnership's outside common unitholders. So basically, we have a fortress balance sheet. She is the Chairman, Chief Executive Officer and Director of Navios Maritime Holdings., of Navios Maritime Partners L.P., of Navios Tankers Management Inc. and Navios Maritime Acquisition Corporation. And I think on a - it seems to be that Q3 was the low part of the tanker segment, and we are seeing the market slowly recovering. 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. I think the number one is that, what we see is a good positioning on the company. Greek authorities freeze bank accounts belonging to Angeliki Frangrou In conclusion, positive demand fundamentals, mainly due to the start of economic activity around the world, along with reduced fleet availability, should continue to support both the dry bulk and containerized shipping industries in their continuing effort to mitigate through raising pandemic stall. Demand and restocking is expected to prove demand growth well above net fleet growth, supporting the recent dramatic rising rates. Cash and cash equivalents were $141 million. I think this is something that we are very [technical difficulty]. As you can see on Slide 4, pro forma for the merger, NMM will have 85 vessels. Our office had to remain open. Angeliki Frangou | Management | Navios Maritime Holdings 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. Angeliki N. Frangou is Chairman of the Board, Chief Executive Officer of Navios Maritime Holdings Inc. There are 2 older and 5 younger executives at Navios Maritime Acquisition Corp. At the same time, being active in multiple sectors reveals opportunities. I think a low leverage is a big driver to our model. Meanings for Angeliki Frangou A popular Greek shipowner and Director who served as a Chief Executive Officer of Navios Maritime Holdings.