Adjusted EBITDA for 2020 amounted to approximately $100 million compared to $120 million 2019. 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? So all these unique things that we see on the supply chain happening, these vessels we think is a good match. So, starting off with the merger, your fleet is clearly massive, it's diverse. We stand at the crossroads, perhaps the crossroads of history. Frangou previously served as Chairman, Chief Executive Officer, and President of International Shipping Enterprises, Inc., which acquired . To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. We see that it is a different set of fundamentals important. However, it should be noted that current rates are still above two times the 10-year averages. 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. PIRAEUS, GREECE--(Marketwire - Feb 27, 2013) - Angeliki Frangou, Chairman and CEO of the Navios Group of Companies, is featured on CNN International's Leading Women with Becky Anderson in a three Part Series airing this month. Forward-looking statements are statements that are not historical facts. Additional availability of Atlantic exports to the Far East are expected to increase as steel mills replenish stockpiles. All vessels are expected to be delivered in the second half of 2022. 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. Please disable your ad-blocker and refresh. Stratos? 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 . So basically we can fix and you have seen in the container segment we fix multi-year contracts. Thereby accumulating significant scale in a short period of time. We have been taking advantage of robust market, NMM has $2.2 billion of contracted revenue. 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. Trial in London this week will aim to settle the siblings' complicated business arrangements. 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. We have been taking advantage of robust market. 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. And overall we like to have a low leverage. Ms. Frangou has also been the Chairwoman and Chief Executive Officer of Navios Maritime Holdings Inc. (NYSE: NM). For the nine months of 2021 NMM generated $445 million, $269.8 million in adjusted EBITDA and $398.6 million in net income. Turning to Slide 14, I will briefly discuss some key balance sheet data as of September 30, 2021. I think the number one is that, what we see is a good positioning on the company. This completes our quarterly result for NMM. This complete formal presentation and we open the call to questions. Leverage remains very low and net loan to value is 28.3% in an asset base estimated at over $4.5 billion. The agenda for today's call is as follows: First, Mr. Frangou will offer opening remarks. We don't have much information about She's past relationship and any previous engaged. Excellent. So, basically what we want to see is number one, this market drybulk to materialize, which we are bullish about it. So we're creating this with this different two tier financing. 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. For the fourth quarter, we generated $35.5 million in adjusted EBITDA. New York-listed Navios Maritime Holdings vows to fight, claiming it was vindicated in similar lawsuit. Demand and restocking is expected to prove demand growth well above net fleet growth, supporting the recent dramatic rising rates. We are 86, which I think is a rather big percentage for our drybulk to be open. $690 million of contracted revenue. Or is this purely a fleet renewal play? 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. Our diversification strategy creates resilience in the overall business model and enable us to mitigate individual segment volatility. So, I guess going forward, is there a specific debt target or leverage ratio you're pursuing before kind of switching to some kind of return of capital, be it either repurchasing units at a massive discount to NAV or increasing the quarterly distribution? 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. The event was held during . A London High Court trial is under way in a complex dispute between Greek shipowner Angeliki Frangou and her brother, John Frangos. And we have seen it. Total adjusted net income was $130 million compared to $8.8 million for the same period last year. 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. The Greek company's chief executive Angeliki Frangou said she was. Please turn to Slide 4. To read more about DN Media Group, If these conditions happen, the next thing on the market, on the debt, I think we are in a - we can both allocate on reduction of our debt and also on actually providing to our investors. Mortgage Notes (the "Ship Mortgage Notes") next month followed by $155 million in 11.25% Senior Secured Notes in August (the "Senior Secured Notes"). And to capture the spot market and wait for the period market to come. 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. We are also constantly working on refinancing and extending maturities. This increase in demand has led to a decline in OECD crude oil inventories, which had fallen below their five year average since February, with the largest decline coming in September as shown on the graph on the lower right. We have - we see the potential, but we see - we need to see it materialize. We have also chartered out 4,250 TEU containerships for periods between 3.5 years and 4.5 years, generating revenues of approximately $270 million. As Angeliki mentioned earlier, today, the Navios Containers unitholders approved the measure of Navios Partners. Please disable your ad-blocker and refresh. Time charter revenue for the year increased to $226.8 million compared to $219.4 million in 2019. Slide 6 goes through recent developments. But most important is we need to have the right conditions. I think this is something that we are very [technical difficulty]. The IMF projects global GDP growth at 5.9% for 2021 and 4.9% for '22. And lastly, we'll open the call to take questions. She also serves as the Chairman and Chief Executive Officer of Navios Partners L.P. and Navios Maritime Acquisition Corporation. This has led the IEA to project Q4, 2021 oil demand to return close to 2019 levels, which is shown on the graph on the lower left. We have fixed 10 of our containerships for long durations, creating approximately $690 million in contracted revenue. You need to wait and see that market develop. Is this happening to you frequently? Additionally, we have agreed a new $52.7 million bareboat financing for two Kamsarmax vessels to be delivered in the second half of 2022 and Q1 of 2023. quarter of 2020. Shipping is always very, very profitable. The pandemic changed everything. 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. And do you have a maybe preference there in terms of repurchases or distribution increase? 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. The addition also provides flexibility in our operational and financial strategies as we charter, sell and purchase vessel and obtain debt finance. On August 25, 2021 Navios Partners acquired 62.4% of the equity interest in Navios Acquisition through the acquisition of 44.1 million Navios Acquisition's common shares for an aggregate investment of $150 million. 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. Our net debt to capitalization is 43.5%, and our debt maturities are targeted through 2030. 2021 2023 Navios South American Logistics Inc. All rights reserved. This will be the highest digital rate in the past 50 years. 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. It should be noted that about 73% of the orderbook is for 13,000 TEU vessels or larger. 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. I note that we were able to sell these vessels for a book gain in this excellent market as we manage our rate profile. The new loan will have an interest of 3% above LIBOR and amortization profile of about 5 years and maturity in the second quarter of 2025. Thank you. As a result, we re-imagined the modern shipping company. It doesn't sound like it has, but curious if there's any sort of hold back because of that lack of visibility. The information set forth herein should be understood in light of such risks. Terms of the bail-out package will likely result in Ms. Frangou regaining full control of Navios Maritime Holdings. We also agreed to sell for vessels having an average age of 13 years for a total sales price of $42.8 million. Its impossible to know what this all means, she underlined, adding that there are too many potential consequences to digest and analyze. Such forward-looking statements are based upon the current beliefs and expectations of Navios Partners management and are subject to risks and uncertainties, which would cause actual results to differ materially from the forward-looking statements. In Slide 15, you can see our target strategy for 2021. Actually, what we are doing is repositioning a fleet. The benefits of diversification are reflected in recent market activity. With the help of a strong second half 2020 ended the year with a BDI averaging 1,066. Let's not forget that the containership sector has been -- the container sector has recovered from second half of last year versus dry bulk as more this year that we are experiencing a much a different potential.

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