Angeliki Frangou is Chairman/CEO at Navios Maritime Holdings Inc. See Angeliki Frangou's compensation, career history, education, & memberships. Thank you. Had the merger been effective for 2020, the pro forma revenue would have been $354 million. 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. But overall, today the biggest thing that we have to see is that we have created operationally a unique platform. In the West, the worst impacts of Covid appear to be fading. We agreed to acquire 6 dry bulk vessels with an average age of about 2 years and sold 4 vessels with an average of about 13 years. We have capitalized on the strength of the Container Ship market and fixed almost 90% of our available container days for 2021, enjoying healthy rates. Yiayia Aggela in the 1980s with her husband, children Yianni and Sofia, her son-in-law, and a grandson. But most important is we need to have the right conditions. Navios' fourth company, Navios South American Logistics Inc., owns and operates the largest independent dry port in the Hidrovia region of South America and one of the largest independent liquid ports in Paraguay. This increase reflects surging trades, driven by strong demand for both major and minor bulk commodities. Cash and cash equivalents was $30.7 million. In this process, we have been pioneering and are adopting certain environmental regulations up to 2 years in advance. The entity will have an enhanced credit profile through increased cash flow supporting deleveraging as well as growth. 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. We are going to acquire 3 Janpanese fleet mid-sized vessels contracted under 15 gigabits of instruction. Our contracted revenue alone exceeds our total fleet expenses by $12.6 million. Please turn to Slide 26, focusing on the container industry. Focus are also for growth in iron ore imports around the world as the effects of the pandemic received. For more information and how to manage your privacy settings, please refer to our privacy and cookie policies. But we have the luxuries. Vessels over 20 years of age are 11.3% of the total fleet, which compares favorably with a low orderbook. So basically, we have a fortress balance sheet. The net result is that we should have more predictable entity level return. The decrease is primarily due to a $25.5 million increase in vessel operating expenses, mainly due to the increased split, a $3 million increase in general revenue of tax expenses, mainly due to the increased fleet and a $1.4 million decrease in equity net earnings of affiliate companies. The increase were mitigated by a 17.4% decrease in the time charter equivalent rate achieved in the fourth quarter of 2020. The merger is a week away now, right, so congrats on that. 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. Slide 7 reviews our recent development. 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. Our merger with Navios Maritime Containers was approved and is expected to close on March 31, 2021. Overall our diversified platform should provide flexibility, allowing us to capitalize across segment opportunities. 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. And you don't see the 3-year market developing. But also to, you know, a recovery on the tanker segment. Our office had to remain open. We also anticipate that diversification and scale should make NMM a more attractive investment platform as we take advantage of global trade patterns. That said, I would still expect Ms. Frangou to reunite both companies at an opportune time in order to grab a very substantial stake in Navios Partners as laid out in detail in my previous article. While also allowing us to leverage each independent sectors fundamentals. NMM has a strong balance sheet with low leverage, 43.5% in combined net-debt-to-book capitalization and man has diversification and scale with an 85 vessel fleet we ranked in the top-10 among the publicly incited cargo fleet, about 66% of our available base assets at an average charter rate of $18,612 net per day and 34% of our fleet available days are open or the index link. The current product tanker orderbook is 6% of the fleet, which compares favorably with the 8.4% of the fleet, which is 20 years of age or older. 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. 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 . And then separately, can you just share generally the front and center. Also, we agreed to acquire a new building Capesize vessel for $31.6 million. Currently in our Containership segment, given the continued strength over the market we have been locking in long-term charters. The pandemic changed everything. 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. We are 86, which I think is a rather big percentage for our drybulk to be open. Angeliki Frangou has been our Chairwoman and CEO since August 25, 2005. Rates in all asset classes rose sharply reflecting surging trade driven by strong demand for both major and minor bulk commodities. Our cash balance was at $141.2 million as of September 30, and we have 28.3% in net LTV. And we have market exposure of 53.5% of our days for this year. 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. As shown on Slide 5, 2021 has been a transformational year as we expanded in new segments. We agreed to acquire 2 2012 bill oil gas vessels or approximately $59.3 million. I now pass the call to George Achniotis, Executive Vice President of Business Development to discuss the industry section. So we're creating this with this different two tier financing. I am pleased with the results for the full year and fourth quarter of 2020. The holder of the Convertible Debentures will be entitled to vote on an "as converted" basis along with the company's common shareholders. The information set forth herein should be understood in light of such risks. 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. Conditions are not as favorable elsewhere. Well, thanks, Angeliki for your comments. Diversification takes advantage of global trade patterns and Slide 8 illustrate this. We believe that this combination offers a stronger, more resilient entity mitigating sector specific cyclicality. Vessels over 20 years of age are about 8.6% of the total fleet, which compares favorably with the historically low orderbook. 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. Navios is a socially conscious group with core values include diversity, inclusion, and safety. So this is basically what we have been doing and what we are seeing developing. CHARTERING OFFICER/MANAGER GAS CARRIERS/TANKERS, Panamax Chartering Manager, Chartering Broker. 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 . At this time, I'm showing no further questions. And also we have to see that target, which we also see a good potential to actually happen. 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. From November 1st DN Media Group is responsible for controlling your data on TradeWinds. It doesn't indicate, now on actual investment, we just completed a $1 billion investment, 45 vessels in the tanker segment. Its impossible to know what this all means, she underlined, adding that there are too many potential consequences to digest and analyze. Fleet utilization was approximately 99%. I think the - you can find one year versus three year, you have basically today discovering hugely. And we have seen that, we have $1.6 billion contracted revenue on containers, $2.2 billion overall on the company. And this is something that actually has benefited quite significant on these market, especially on the container. So this is a net benefit, the inefficiency. Ms. Frangou has also been Chairwoman and CEO of Navios Holdings (NYSE: NM) our sponsor since August 2005. We have been taking advantage of robust market. For containerships, we increased fleet size by 330% and reduced average age by 24%. These together with near record low orderbook could boost crude and product tanker rates in the near term. Our three pillars are now working well, both drybulk and containership sectors are performing and the tanker sector has improved materially in the past few months with more improvement expected. The oldest executive at Navios Maritime Acquisition Corp is Brigitte Noury, 66, who is the Independent Director. On Slide 16, you can see with our ESG initiatives. And then going forward, which subsector would you maybe look to grow? Included in this adjustment is a $42.6 million impairment on our investment in Navios Containers, bringing its book values to approximately $25 million. Angeliki Frangou has been the Chairman and Chief Executive Officer of Navios Maritime Holdings Inc. (NYSE: NM) since August 25, 2005. 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. Thank you, Stratos, and good morning all. We have 27,437 open in index days that can generate significant operating cash. Frangou has been the Chairwoman of the Board of Directors of Navios South American Logistics Inc. since its inception in December 2007. 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. We use your data to ensure you have a secure and enjoyable user experience when visiting our site. So you always have to be very alert to see what is the best area where the opportunity lies. Turning to Slide 20. 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. I have no business relationship with any company whose stock is mentioned in this article. Ms. Frangou has also been the Chairwoman and Chief Executive Officer of Navios Maritime Holdings Inc. (NYSE: NM). 2021 2023 Navios South American Logistics Inc. All rights reserved. At Navios, Ms. Frangou is entrusted with establishing strategy and managing her team of seasoned executives as they supervise global activities. Maybe just, I know, one final one I did want to ask. The floor is now open for questions. We also continued to renew and expand our fleet. About 91% of our debt is covered by the scrap value of our vessels alone. It's more diversified, you're thinking about basically moving forward with an even lower level of leverage than you have. Angeliki Frangou (nee Papi) was born in Ikaria in November 1915. . First, the pandemic highlighted the weakness of just in time manufacturing. I now pass the call to Eri Tsironi, our CFO, which will take you through the financial highlights. 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. Angeliki Frangou biography. 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? We see good - we see a good market potential, but we have to see it realize. This will be the highest digital rate in the past 50 years. Through mid-March 2020 21, contracted is down by about 62% compared to the same period last year. Then Mr. Achniotis will provide an operational update and an industry overview. As a result, we re-imagined the modern shipping company. Both related-party loans have a term of four years and won't require cash interest or amortization payments for an initial 18-month period (the "PIK Period"). We have historically low break-even gives us on a 47,000 days. 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. Angeliki Frangou, Chairwoman and Chief Executive Officer, stated, "We are pleased with this transformative transaction through which we created the largest U.S. publicly-listed shipping company with 15 vessel types diversified across three segments, servicing more than 10 end markets. Next, Ms. Tsironi will give an overview of Navios Partners financial results. Adjusted net income for 2020 amounted to $12.8 million. As CFI box rates have climbed 222% from April 2020 to March '21, spread by the earlier start of the Chinese equality and from continuing demand for consumables and pandemic related supplies worldwide. I would now like to turn the call over to Angeliki for her final comments. Please disable your ad-blocker and refresh. Excluding these items, total adjusted EBITDA for Q3 amounted to $145 million compared to $31 million for the same period last year. Asian coal imports, which account for over 80% of the world's imports trade, are expected to increase by 4.3% in 2021, following a decline of 6.8% in 2020. 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. 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 . This factor stimulus has led to historic turnaround in global container trade. In Slide 14, you can see the latest update on our fleet. Thank you, Doris, and good morning to all of you joining us on today's call. in Stamford Chief executive Angeliki Frangou has further grown her stake in Navios Maritime Holdings by converting more bonds into shares as part of a massive refinancing that closed at the. At Navios, the pandemic galvanized us. Okay. I will briefly review our unaudited financial results for the third quarter and nine months ended September 30, 2021. Thank you, Stratos. 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. This completes our formal presentation, and we open the call to questions. As Angeliki mentioned, earlier the merger with Navios Acquisition was completed on October 15, 2021. The transaction based scale through a larger diversified asset base with an increased earning capacity. 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. As I mentioned previously, Navios Partners is one of the largest U.S. publicly listed companies with over 140 vessels. Finally, turning to Slide 26, product tanker net fleet growth projected at 2.4% for 2021 and only 1.9% for '22. Churchs Annual Stewardship & Mistletoe Gala. The benefits of diversification are reflected in recent market activity. In addition to the Leading Women Series, Becky Anderson also hosts the network's flagship news and current affairs program Connect the World, which takes viewers on a journey across continents, beyond headlines and into histories of the stories that are changing our world. The . Yes, we have put out some details also in our press release today. 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. In Slide 11, you can see the strength and stability of our balance sheet. 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!
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