Thanks, Angeliki. 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. 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. This completes our Q4 results. I think that will give us a long-term view on the right. 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. 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,. 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. Also - good afternoon and also congratulations on there, your first call here post-merger. 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. Sometimes it's in newbuildings, sometimes it's in secondhand vessels in different sectors. You have this low break-even, 2,400, historically the lowest. I will briefly discuss on key balance sheet data as of December 31, 2020. 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. 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). As you can see on Slide 4, pro forma for the merger, NMM will have 85 vessels. We expect to be able to provide more predictable returns to our unitholders despite uneven sector performance. 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. From a shipping perspective, building for resilience translates into more ton miles as things are duplicated,. Now I will review the safe harbor statement. It should be noted that about 73% of the orderbook is for 13,000 TEU vessels or larger. New York-listed bulker owner Navios Maritime Holdings has room to lower debt further after a very profitable fourth quarter. 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. 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! So you are actually creating this cash flow when the market is right. We operate in three segments, have 15 diversified vessel types, and serve over 10 end market. You can read more about how we handle your information in our privacy policy. A London High Court trial is under way in a complex dispute between Greek shipowner Angeliki Frangou and her brother, John Frangos. But overall, today the biggest thing that we have to see is that we have created operationally a unique platform. 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. How Angeliki Frangou became the leading Greek shipping So, starting off with the merger, your fleet is clearly massive, it's diverse. Vaccine roll-outs, continued fiscal stimulus and governmental infrastructure projects will continue to support economic growth. His daughter. Please turn to Slide 27. I'll turn it over. 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. Yes, we have put out some details also in our press release today. As of September 30, we had a total cash of $141.2 million and borrowings of $1.4 billion. We understood that with over 4,000 sailors at sea, when the phone rang, we had to answer it. As a result, we re-imagined the modern shipping company. We are 86, which I think is a rather big percentage for our drybulk to be open. 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. However, the pandemic broke the logistics chain and basic materials had to be airlifted to combat shortages. 12 Ultra Rich Greeks Who Should Have Bailed Out Greece Themselves 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. We have about - commercial banks, about $600 million in Japanese and Chinese leases, which provides us more easier covenant. Additionally, we are positioning our dry bulk fleet for what we hope will be a strong balance of 2021. 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. Total adjusted net income was $130 million compared to $8.8 million for the same period last year. So any plans for further asset sales, especially on those older vessels? But on the other side, we are very exposed to the market. Fortune: Greek Businesswoman Among 25 World's Most Powerful From November 1st DN Media Group is responsible for controlling your data on TradeWinds. The oldest executive at Navios Maritime Acquisition Corp is Brigitte Noury, 66, who is the Independent Director. NMM is differentiated by its industry-leading scale and diversified sector exposure. In Slide 11, you can see the strength and stability of our balance sheet. NMM is well positioned to benefit from the different sector fundamentals. The pandemic changed everything. We are a premier dry cargo shipping platform with about $900 million of contracted revenue. Is this happening to you frequently? 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. For 2021 contracted revenue is expected to generate $12.6 million in excess of total fleet expense. And this is something that actually has benefited quite significant on these market, especially on the container. 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. We do not see this easing anytime soon, but we are watching it carefully, Angeliki Frangou concluded. Moving to the earnings highlight in Slide 13. Next, Ms. Tsironi will give an overview of Navios Partners financial results. Containership demand growth of 5.7% in 2021 and 3.7% in '22 is expected to exceed supply a pent-up demand for congestion, restocking and increases in consumer demand for goods all support increasing Connie volumes. Accordingly, 2021, net fleet growth is expected at 2.6% and only 0.7% for '22. Post-merger NMM will have approximately 19.7 million units outstanding. Please turn to Slide 4. This is unique. 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. Angeliki Frangou, Chairman and CEO of the Navios Group of - Yahoo! Adjusted net income for the quarter amounted to $12.8 million. And then you mentioned the word replacement, right. Shipping is always very, very profitable. Thank you for joining us for Navios Maritime Partners' Fourth Quarter and Full Year 2020 Earnings Conference Call. We don't have much information about She's past relationship and any previous engaged. We have fixed 10 of our containerships for long durations, creating approximately $690 million in contracted revenue. 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. 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. 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. 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. 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. I am pleased with our results for the third quarter of 2021. Angeliki Frangou steers Navios towards emerging economies Angeliki Frangou (born 1965) ( Greek: ) is a Greek shipowner. But also to, you know, a recovery on the tanker segment. We are not shy of actually fixing it. In addition 10.4% of the fleet is currently 20 years of age or older. Angeliki Frangou has positioned Navios perfectly to capture the ongoing growth of emerging economies for years to come Evidently, going from a defunct Brazilian tanker to running a group worth in excess of $4bn (3.4bn) took more than luck. 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. [Operator Instructions]. A London High Court trial is under way in a complex dispute between Greek shipowner Angeliki Frangou and her brother, John Frangos. Angeliki Frangou is 55, she's been the Chairman of the Board and Chief Executive Officer of Navios Maritime Acquisition Corp since 2008. Service was accepted by Israel David. 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. The benefits of diversification are reflected in recent market activity. Long-term borrowings including the current portion net of deferred fees amounted to $1.4 billion. Yes, the essence of the diversified fleet. 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. Angeliki? Moreover, the large asset base will provide the entity a significant parcel of collateral value. As Angeliki mentioned, earlier the merger with Navios Acquisition was completed on October 15, 2021. The Greek company's chief executive Angeliki Frangou said she was. For the fourth quarter, Navios Partners reported revenue of $69.2 million and adjusted EBITDA of $35.5 million. Our combined net debt to book capitalization is 43.5%, about 90% of our debt is covered by the scrap value of our vessels alone. Please. Angeliki Frangou has been the Chairman and Chief Executive Officer of Navios Maritime Holdings Inc. (NYSE: NM) since August 25, 2005. Navios' Angeliki Frangou: "The Pandemic Galvanized Us"! - Neo Thank you. This would lead to a pickup in scrapping in 2022 and high scrapping prices combined with IMO 2023 CO2 reduction rules may induce a portion of the overage fleet to scrap. Navios Partners controls 142 vessels with balanced exposure to the drybulk, containership and tanker segments. Also, we agreed to acquire a new building Capesize vessel for $31.6 million. It can be accessed online at: http://edition.cnn.com/video/#/video/business/2013/02/12/leading-women-angeliki-frangou-navios-shipping.cnn. Editor's note: US District Judge Mary Ann Vial Lemmon dismissed the litigation against the owners of Mariner Shipyard in April 2010. Using the client market average time charter rate of $23,549 per day, we believe NMM is well positioned for a strong 2021. Year-to-date in 2021 our fleet increased by 163% in terms of number of vessels to 88 net vessel additions. Even with the increase in new building orders, demand is forecast to outpace net fleet growth in both 2021 and '22. Angeliki Frangou Net Worth (2023) | wallmine Please turn to Slide 19. quarter of 2020. 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. The nominal GDP today is exponentially higher than compared to the nominal GDP of 50 years ago. So basically we can fix and you have seen in the container segment we fix multi-year contracts. Based on yesterday's closing price of Navios Containers units, our investment amounts to over $110 million. Leverage remains very low and net loan to value is 28.3% in an asset base estimated at over $4.5 billion. We have - we see the potential, but we see - we need to see it materialize. 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. 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. 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. For containerships, we increased fleet size by 330% and reduced average age by 24%. Our office had to remain open. First, Ms. Frangou will offer opening remarks. First COVID stimulus measures have caused a sharp recovery of demand for goods in Western OECD economies as noted on the two lower charts. Now I will review the safe harbor statement. And some are shown on the chart on the bottom of the slide, we have increased available days by 171% to 47,268 available days. And then now that, obviously, the dry bulk and containership markets are both extremely strong. 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. This has led to a change in trading patterns for the containerships, which has resulted in a historic turnaround in rates. This concludes my presentation, I would now like to turn the call over to Angeliki for her final comments. We have very strong corporate governance and clear code of ethics. 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. 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. Navios Maritime: Bail-Out To Result In Frangou Regaining Control For the full year of 2020, Navios Partners reported revenue of $226.8 million and adjusted EBITDA of $99.8 million. Angeliki Frangou Net Worth Her net worth has been growing significantly in 2020-2021. Angeliki Frangou, chief executive of Navios Maritime Holdings, is being sued in New York federal court, alleging she tried to force out preferred shareholders to enrich herself. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Its been four years since the last Posidonia. 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. However, [indiscernible] quarters along with global oil demand returning to 2019 levels have brought OECD inventories below their 5-year average. So you will see that we are almost 100% fixed on both sides, both in the dry bulk but also the container side. Year-to-date scrapping has totaled 3.4 million tons, which is on pace for March 2020. The container segment began strengthening in the third quarter of 2020, while the dry bulk market become turning in 2021. We have historically low break-even gives us on a 47,000 days. The transaction based scale through a larger diversified asset base with an increased earning capacity. 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. 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. Now I turn the call over to Navios Partners, Chairwoman and CEO, Ms. Angeliki Frangou. Please. Maybe just, I know, one final one I did want to ask. $12.8 million is adjusted net income and $1.12 is adjusted earnings per unit. So we're creating this with this different two tier financing. Slide 9 details our operating cash flow potential for 2021, 66% of our available base as fixed -- at an average rate of $18,612 net per day. Vessels over 20 years of age are about 8.6% of the total fleet, which compares favorably with the historically low orderbook. Turning to Slide 22, fleet growth is expected to be 4.2% this year and 3.8% for '22. 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. We also continued to renew and expand our fleet. Moving to the first nine month 2021 period, time charter revenue reached $445 million compared to $158 million in 2020. On October 15, 2021 we completed a transformative merger with Navios Acquisition. Navios is a socially conscious group with core values include diversity, inclusion, and safety. Angeliki Frangou - Wikipedia I'll now pass the call to George Achniotis, Executive Vice President of Navios Development, to discuss the [indiscernible]. Next, Mr. Desypris will give an overview of Navios Partners segment data. Lastly, we have a strong balance sheet with low leverage. Thank you, Daniella, and good morning to all of you joining us on today's call. This - the advantage we took on the container vessels gave us a historically low break-even of $2,469 per open day in 2022. You can pay down debt aggressively, you can reward shareholders aggressively and you can actually acquire assets fairly aggressively. "In terms of future prospects, I am optimistic but I wish it were for different reasons," she said. Angeliki Frangou - Net Worth February 2023, Salary, Age, Siblings, Bio Net debt/book capitalization was at a comfortable level of 41.7%. She is not dating anyone. We stand at the crossroads, perhaps the crossroads of history. You'll see the webcasting 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. Net debt to book capitalization was 40% at the end of the year. This resulted in a reduction of interest expense for 2020 by approximately $15 million compared to 2019. And this is the strategy going forward. Document filed by Norman Roberts. Through mid-March 2020 21, contracted is down by about 62% compared to the same period last year. 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). 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 . Cash and cash equivalents were $141 million. 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. 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. So you always have to be very alert to see what is the best area where the opportunity lies. While we are positioned to capture the market upside, through our forward available days, our diversified chartering strategy has enabled to secure a pipeline of over $2.2 billion of contracted revenue. 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. Importantly, the precent of decrease perhaps understates the impact. Your balance sheets in great shape. We agreed to acquire 2 2012 bill oil gas vessels or approximately $59.3 million. Such risks are more fully discussed in Navios Partners filings with the Securities and Exchange Commission. Turning to Slide 25, VLCC net fleet growth is projected at 3.6% for 2021 and only 1.6% for '22. Okay. 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. 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. 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. On Slide 16, you can see with our ESG initiatives. 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. Fleet utilization for the fourth quarter of 2020 was almost 100%. We are also constantly working on refinancing and extending maturities. NMM has an enhanced base to generate free cash flow. But one of the things I'll say is that, we see visibility on chartering - the demand for charters, if I answer your question. 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. Just curious there. Navios Holdings eyes further debt cuts in 'favourable' markets The large entity will benefit from a simplified capital and an organizational structure, thereby, reducing costs.