About 91% of our debt is covered by the scrap value of our vessels alone. Greek authorities freeze bank accounts belonging to Angeliki Frangrou Big picture just, you should understand that all the inefficiency is net positive for our business. 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. Overall our diversified platform should provide flexibility, allowing us to capitalize across segment opportunities. You can pay down debt aggressively, you can reward shareholders aggressively and you can actually acquire assets fairly aggressively. We believe that this combination offers a stronger, more resilient entity mitigating sector specific cyclicality. Navios' Angeliki Frangou: "The Pandemic Galvanized Us"! - Neo Navios Maritime Partners L.P. (NMM) CEO Angeliki Frangou on Q4 2020 Navios Partners controls 142 vessels with balanced exposure to the drybulk, containership and tanker segments. Angeliki? Please disable your ad-blocker and refresh. Angeliki Frangou Net Worth Her net worth has been growing significantly in 2020-2021. Lastly, we have a strong balance sheet with low leverage. Yiayia Aggela in the 1980s with her husband, children Yianni and Sofia, her son-in-law, and a grandson. About a third of our fleet operate in each of the drybulk, containerships and tanker segment. You have a huge fleet, and you have a break-even per open day of 2,460. In addition 10.4% of the fleet is currently 20 years of age or older. She also serves as the Chairman and Chief Executive Officer of Navios Partners L.P. and Navios Maritime Acquisition Corporation. Lastly within our Tanker segment, our long-term contracts provide protection and 65% of our 2022 available days remain open to capture the ongoing market recovery. Trial in London this week will aim to settle the siblings' complicated business arrangements. 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 . Long-term borrowings, including the current portion, net of deferred fees amounted to $486.9 million. Its impossible to know what this all means, she underlined, adding that there are too many potential consequences to digest and analyze. quarter of 2020. Everything works well, as long as the logistics chain is unchallenged. The current average contracted net rate of the four vessels is approximately $2,600 per day. I will briefly review Navios' financial results for the Fourth Quarter and Year Ended December 31, 2020. Our cash balance was at $141.2 million as of September 30, and we have 28.3% in net LTV. 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. 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. 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. So this is something that we are focusing very much. 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. What we have done is that, we have created a fortress balance sheet by chartering the container sector, which is extremely strong. This will be the highest digital rate in the past 50 years. 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. Definitely sounds like you have the flexibility across the board with that. Navios Maritime Partners' (NMM) CEO Angeliki Frangou on - SeekingAlpha In concluding, the tanker market continues to remain challenged, following reduced crude and product demand associated with COVID restraints. Please turn to Slide 19. We also continued to renew and expand our fleet. Angeliki Frangou, chief executive of Navios Maritime Holdings and Navios Maritime Partners speaks at a company dinner at the National Gallery in Athens in June 2022. About Navios Maritime Holdings Inc. Navios Maritime Holdings Inc. (NYSE: NM) is a global, vertically integrated seaborne shipping and logistics company focused on the transport and transshipment of drybulk commodities including iron ore, coal and grain. Angeliki Frangou - Net Worth February 2023, Salary, Age, Siblings, Bio Partners financial results. We have finalized an additional $58 million loan, which will be used to finance the acquisition of 2 vessels and refinance an existing facility. 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. 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. 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? Basically, I mean, we see a lot of value on both segments. Adjusted EBITDA for the fourth quarter of 2020 increased to $35.5 million compared to $33.7 million for Q4 of 2019, mainly due to the increase in earnings discussed above. Frangou has been the Chairwoman of the Board of Directors of Navios South American Logistics Inc. since its inception in December 2007. This completes our Q4 results. Thereby accumulating significant scale in a short period of time. Slide 6 details our Company highlights. For 2021 contracted revenue is expected to generate $12.6 million in excess of total fleet expense. The recently completed merger with Navios Acquisition gave us a strong foothold in this tanker sector with 45 tanker vessels. We have - we see the potential, but we see - we need to see it materialize. 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. CHARTERING OFFICER/MANAGER GAS CARRIERS/TANKERS, Panamax Chartering Manager, Chartering Broker. Thank you. Post-merger NMM will have approximately 19.7 million units outstanding. 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. Currently in our Containership segment, given the continued strength over the market we have been locking in long-term charters. I'd like to turn the floor back over to Angeliki Frangou for any closing remarks. [Operator Instructions] We take our first question from Randy Giveans with Jefferies. 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. So basically we can fix and you have seen in the container segment we fix multi-year contracts. For the nine months of 2021 NMM generated $445 million, $269.8 million in adjusted EBITDA and $398.6 million in net income. For the full year of 2020, Navios Partners reported revenue of $226.8 million and adjusted EBITDA of $99.8 million. Angeliki Frangou tightens grip on Navios Holdings after major Please. The round up show premieres on the 4th Wednesday of every month. Not only does diversification provide strength but it also brings opportunity. NMM is differentiated by its industry-leading scale and diversified sector exposure. Yet we still have 2,473 open or index-linked days. So, basically what we want to see is number one, this market drybulk to materialize, which we are bullish about it. This concludes my presentation, I would now like to turn the call over to Angeliki for her final comments. Year-to-date in 2021 our fleet increased by 163% in terms of number of vessels to 88 net vessel additions. Navios Holdings eyes further debt cuts in 'favourable' markets Net debt to book capitalization was 40% at the end of the year. And overall we like to have a low leverage. Demand and restocking is expected to prove demand growth well above net fleet growth, supporting the recent dramatic rising rates. 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. 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. Excluding these items, total adjusted EBITDA for Q3 amounted to $145 million compared to $31 million for the same period last year. Please turn to Slide 17 for the review of the drybulk industry. Terms of the bail-out package will likely result in Ms. Frangou regaining full control of Navios Maritime Holdings. So you will see that we are almost 100% fixed on both sides, both in the dry bulk but also the container side. The complaint, filed in New York federal court last week, charges the Greek shipping magnate and the company's directors with setting up a scheme to get around paying out accrued dividends owed to preferred shareholders, in an effort to pay dividends on common stock. Thank you. The Leading Women with Becky Anderson program profiles professional women who have made it to the top in all areas of business, the arts, sport, culture, science and more. 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 just the last month, sub trade time charter rates have hit 10-year highs in what is normally a seasonal low period. 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. 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. 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. I think that one issue that I faced, no matter was on 140 vessel fleet, you will have some replacement. The BDI average for Q3 was 3,732, the highest quarterly average since 2008. 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. Angeliki Frangou | Navios Logistics 2021 2023 Navios South American Logistics Inc. All rights reserved. So this is a net benefit, the inefficiency. 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. 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. Forward-looking statements are statements that are not historical facts. Turning to Slide 12. On October 15, 2021 we completed a transformative merger with Navios Acquisition. Long-term borrowings including the current portion net of deferred fees amounted to $1.4 billion. Please turn to Slide 27. Is this happening to you frequently? Vietnam and other Southeast Asian countries, increased coal imports by 13%. 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. And how will you balance that with maybe unit repurchases as you're still trading at a pretty massive discount to NAV. Turning to Slide 12, you can see some fleet and debt updates. Now 30,000 is a very good level. Read more about DN Media Group here. 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. Moreover, Navios optimizes its flexible chartering strategy to leverage on fundamentals across its three sectors and calibrate charter 10 based upon segment opportunity. 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. Frangos claims his sister owes his company, First Lines, $1.18m, TradeWinds is part of DN Media Group. 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. 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. A Leading Women with Becky Anderson round-up show featuring Angeliki Frangou will air on Wednesday, February 27 at 11:30am CET / 10:30 am GMT / 6:30 pm HKT and 6:30 pm CET / 5:30 pm GMT / 1:30 am Thurs HKT, and at various dates and times in March. Is that a repeatable opportunity you think? [1] She is the chairman, chief executive officer and Director of Navios Maritime Holdings ., [2] of Navios Maritime Partners L.P., of Navios Tankers Management Inc. and Navios Maritime Acquisition Corporation. The entity will have an enhanced credit profile through increased cash flow supporting deleveraging as well as growth. 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. 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. The benefits of diversification are reflected in recent market activity. Angeliki Frangou - Wikipedia As a reminder, this conference call is being webcast. 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. Add a meaning Wiki content for Angeliki Frangou Angeliki Frangou Add Angeliki Frangou details Phonetic spelling of Angeliki Frangou Add phonetic spelling Synonyms for Angeliki Frangou Add synonyms The oldest executive at Navios Maritime Acquisition Corp is Brigitte Noury, 66, who is the Independent Director. New York-listed bulker owner Navios Maritime Holdings has room to lower debt further after a very profitable fourth quarter. George? 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 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. 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. Our balanced exposure across the drybulk, containership and tanker segments allow us to mitigate normal industry cyclicality and leverage fundamentals on offering across all sectors through our chartering and capital allocation and financing strategy. Angeliki Frangou has been Navios Logistics Chairwoman and a Member of the Board of Directors since its inception in December 2007. Angeliki Frangou is Chairman/CEO at Navios Maritime Holdings Inc. See Angeliki Frangou's compensation, career history, education, & memberships. At the same time, but there is increasing industrial production and economic growth in China. 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 the West, the worst impacts of Covid appear to be fading. Stratos? As you can see on Slide 4, pro forma for the merger, NMM will have 85 vessels. Got it. Containers $22,418 per day, and Tankers $15,066 per day. 20 Angeliki Frangou, Navios :: Lloyd's List Now I turn the call over to Navios Partners' Chairman and CEO, Mr. Angeliki Frangou. First Navios Maritime suit ended with revised offer. Finally, turning to Slide 26, product tanker net fleet growth projected at 2.4% for 2021 and only 1.9% for '22. Angeliki Frangou, Navios Maritime Holdings Inc: Profile and Biography Angeliki Frangou has been our Chairwoman and Chief Executive Officer since our inception. 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. Using the client market average time charter rate of $23,549 per day, we believe NMM is well positioned for a strong 2021. But also, would like to also use the excess in deleveraging. The terms of the loan includes an interest rate of 3% above LIBOR and depreciation profile of about 9 years and maturity in the first quarter of 2026.
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