The transaction based scale through a larger diversified asset base with an increased earning capacity. Through mid-March 2020 21, contracted is down by about 62% compared to the same period last year. Chinese steel production surpassed the 1-billion tons mark in 2020. We have question from the line of Randall Giveans of Jefferies. Is this happening to you frequently? At this time, I'm showing no further questions. Angeliki Frangou - Chairman and Chief Executive Officer Stratos Desypris - Chief Financial Officer George Achniotis - Executive President-Business Development Conference Call Participants Chris. Turning to Slide 20. I'll turn it over. How Angeliki Frangou became the leading Greek shipping . On Slide 16, you can see with our ESG initiatives. For 2022 we have fixed approximately 42% of our open days at $29,350 per day and our contracted revenue provides for a break-even of $2,469 per open day. In the long run, she adder, Navios people believe that their re-imagined business will provide reasonably stable returns as the financial results of stronger sectors offset the financial results of sectors performing less well. 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. We have a large modern diverse fleet of 85 vessels with a total capacity of 7.8 million deadweight tons. Next, Ms. Tsironi will give an overview of Navios Partners financial results. During Q3, Navios Partners recorded revenue of $228 million, adjusted EBITDA of $145.2 million and net income of $162.1 million. 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. For simplicity, the discussion of the financial results below exclude the effect of the one-off items listed in this slide. 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. "In terms of future prospects, I am optimistic but I wish it were for different reasons," she said. 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. Turning to Slide 25. 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. As of September 30, we had a total cash of $141.2 million and borrowings of $1.4 billion. So this portfolio in order to be kept on the same age below industry average, and create, you will always have a 10, 15 vessel. Our cash balance was at $141.2 million as of September 30, and we have 28.3% in net LTV. With the help of a strong second half 2020 ended the year with a BDI averaging 1,066. We understood that with over 4,000 sailors at sea, when the phone rang, we had to answer it. Angeliki Frangou has been Navios Logistics Chairwoman and a Member of the Board of Directors since its inception in December 2007. So we went to work, Chairwoman and Director of Navios Maritime Holding Angeliki Frangou stated speaking at the private dinner she hosted during the Posidonia 2022. 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. What we have done is that, we have created a fortress balance sheet by chartering the container sector, which is extremely strong. We have majority independent directors and independent committees, not to say our management operations. We stand at the crossroads, perhaps the crossroads of history. Containers $22,418 per day, and Tankers $15,066 per day. Banks take back Hermitage PSV fleet at 62% of outstanding debt, Bottiglieri family removed from historic Italian shipping company. We have finalized an additional $58 million loan, which will be used to finance the acquisition of 2 vessels and refinance an existing facility. 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 IMF projects global GDP growth at 5.9% for 2021 and 4.9% for '22. As a reminder, this conference call is being webcast. This concludes my presentation, I would now like to turn the call over to Angeliki for her final comments. [Operator Instructions]. Yes, we have put out some details also in our press release today. It should be noted that about 73% of the orderbook is for 13,000 TEU vessels or larger. 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. And that's likely to grow here as we look ahead with the time charters you just announced on the containers. Leverage remains very low and net loan to value is 28.3% in an asset base estimated at over $4.5 billion. Churchs Annual Stewardship & Mistletoe Gala. However, we do not take that for granted. 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. Excellent. And do you have a maybe preference there in terms of repurchases or distribution increase? I mean, you have much larger asset base. And we have the tanker sector that we are watching as establish. Moving to the earnings highlight in Slide 13. Angeliki N. Frangou. I am mostly a trader engaging in both long and short bets intraday and occasionally over the short- to medium term. Trial in London this week will aim to settle the siblings' complicated business arrangements. Rates in all asset classes rose sharply reflecting surging trade driven by strong demand for both major and minor bulk commodities. I am not receiving compensation for it (other than from Seeking Alpha). Navios Partners controls 142 vessels with balanced exposure to the drybulk, containership and tanker segments. Yes, the essence of the diversified fleet. A London High Court trial is under way in a complex dispute between Greek shipowner Angeliki Frangou and her brother, John Frangos. This will be the highest digital rate in the past 50 years. And we have seen it. 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 Angeliki Frangou (nee Papi) was born in Ikaria in November 1915. . 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. So this is something that we are focusing very much. 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. 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,. Stratos? 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. I will briefly review Navios' financial results for the Fourth Quarter and Year Ended December 31, 2020. 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. And you need to be always running the different scenarios. This conference call could contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about Navios Partners. But we have the luxuries. 2021 drybulk trade is projected to increase by 4.5% and further increase by 2.9% in '22. 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. The information set forth herein should be understood in light of such risks. We have about - commercial banks, about $600 million in Japanese and Chinese leases, which provides us more easier covenant. There are 2 older and 5 younger executives at Navios Maritime Acquisition Corp. The financial potency of this combination can be measured through the pro forma combined results of 2020. We have very strong corporate governance and clear code of ethics. You know, it's like as we die. Governments having put in place emergency monitor and fiscal plans to support the economies have kick-started faster than expected the recovery in the world economy. Thanks you Angeliki and good morning all. Overall our diversified platform should provide flexibility, allowing us to capitalize across segment opportunities. Turning to Slide 12. I am not receiving compensation for it (other than from Seeking Alpha). We see good - we see a good market potential, but we have to see it realize. The net book is expected to close on March 31, 2021. Actually, what we are doing is repositioning a fleet. 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. Please disable your ad-blocker and refresh. Please turn to Slide 18. In that context, and thinking of deploying capital in the future, we've talked about how maybe tankers is an appealing asset class to go after because it's the bottom of the market to an extent. NMM is differentiated by its industry-leading scale and diversified sector exposure. Moving from strength to strength in our drybulk segment, we continue to benefit from a strong spot market with 87% of our 2022 available days exposed to market rate and we remain positioned to fix vessels on attractive period charters are available. Now 30,000 is a very good level. 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 . You may disconnect at any time. In Slide 14, you can see the latest update on our fleet. 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. Time charter revenue for the year increased to $226.8 million compared to $219.4 million in 2019. While also allowing us to leverage each independent sectors fundamentals. Overall, world grain sales increased by 7.7% in 2020 is expected to increase by about 2% in '21. Please. We - the announcement we did between the six new buildings that we did for five years and the four other vessels, we did quite significant number of what we say, 600 and $690 million of contracted revenue. how does penelope sense of devotion and faithfulness affect, news sign off catchphrases,
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