angeliki frangou husband angeliki frangou husband

I am not receiving compensation for it (other than from Seeking Alpha). We have about - commercial banks, about $600 million in Japanese and Chinese leases, which provides us more easier covenant. 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. Turning to Slide 25, VLCC net fleet growth is projected at 3.6% for 2021 and only 1.6% for '22. Ms. Frangou is the Chairman and Chief Executive Officer of and the beneficial owner of all of the equity securities of Navios Shipmanagement Holdings Corporation ( "NSM" ). 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. And this is the strategy going forward. But just trying to understand, basically the lack of visibility has been sort of discouraged, sort of incremental ordering or sort of any commitments under customers' part. About 91% of our debt is covered by the scrap value of our vessels alone. In just the last month, sub trade time charter rates have hit 10-year highs in what is normally a seasonal low period. 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. EN English Deutsch Franais Espaol Portugus Italiano Romn Nederlands Latina Dansk Svenska Norsk Magyar Bahasa Indonesia Trke Suomi Latvian Lithuanian esk Unknown Additionally, we are positioning our dry bulk fleet for what we hope will be a strong balance of 2021. Now is the important or something like an unsecured pieces that might make sense, something that basically might be a little bit more permanent piece of the capital. Debt-laden dry bulk shipper is bailed out by CEO and Chairwoman Angeliki Frangou. On average, we are approximately just over $15,000 chartered on the dry side and around $17,000 on the containerships. At the same time, being active in multiple sectors reveals opportunities. For the fourth quarter, Navios Partners reported revenue of $69.2 million and adjusted EBITDA of $35.5 million. $690 million of contracted revenue. Accordingly, 2021, net fleet growth is expected at 2.6% and only 0.7% for '22. Thank you. Overall, world grain sales increased by 7.7% in 2020 is expected to increase by about 2% in '21. "In terms of future prospects, I am optimistic but I wish it were for different reasons," she said. The Leading Women with Becky Anderson Series can be viewed online at: http://edition.cnn.com/SPECIALS/leading-women. New York-listed bulker owner Navios Maritime Holdings has room to lower debt further after a very profitable fourth quarter. Basically, I mean, we see a lot of value on both segments. As a result, we re-imagined the modern shipping company. 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. 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. Ladies and gentlemen, this does conclude today's conference call. Before I start discussing our financial highlights, I would like to draw your attention to see one-off items that are listed in Slide 11. Yet we still have 2,473 open or index-linked days. Angeliki Frangou has been our Chairwoman and Chief Executive Officer since our inception. Please. click here. For returning coal high gas prices have driven power plants to switch back to coal-fired power generation, and the IEA estimates that global coal-fired electricity generation is expected to rise by nearly 5% this year and exceed pre-pandemic levels before increasing a further 3% to an all-time high in 2022. This is unique. Not only does diversification provide strength but it also brings opportunity. The event was held during . convertible debentures (the "Convertible Debentures"). On Tuesday, debt-laden dry bulk shipper Navios Maritime Holdings (NYSE:NM) announced the eagerly-awaited terms of its widely-anticipated bailout by CEO and Chairwoman Angeliki Frangou: Remember, the company will be required to repay $455.5 million in 7.375% First Priority Ship Mortgage Notes (the "Ship Mortgage Notes") next month followed by $155 million in 11.25% Senior Secured Notes in August (the "Senior Secured Notes"). Please turn to Slide 21 focusing on the container industry. Our merger with Navios Maritime Containers was approved and is expected to close on March 31, 2021. Please move to Slide 9 which provide some selected segment data. The information set forth herein should be understood in light of such risks. And do you have a maybe preference there in terms of repurchases or distribution increase? Overall our diversified platform should provide flexibility, allowing us to capitalize across segment opportunities. 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. Next, Mr. Desypris will give an overview of Navios Partners segment data. At the same time, but there is increasing industrial production and economic growth in China. 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. On Slide 8, we lay out global GDP growth since 1970. 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. Turning to Slide 12, you can see some fleet and debt updates. 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 . Even with the increase in new building orders, demand is forecast to outpace net fleet growth in both 2021 and '22. She is not dating anyone. NMM has $2.2 billion of contracted revenue. Mortgage Notes (the "Ship Mortgage Notes") next month followed by $155 million in 11.25% Senior Secured Notes in August (the "Senior Secured Notes"). The big thing is about - we're looking at reducing further. In addition, lender Navios Shipmanagement Holdings Corporation or "NSM" received an upfront structuring fee of $24.0 million and an undisclosed amount of accrued interest and prepayments fees also in the form of Convertible Debentures. 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. The recently completed merger with Navios Acquisition gave us a strong foothold in this tanker sector with 45 tanker vessels. 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. You can pay down debt aggressively, you can reward shareholders aggressively and you can actually acquire assets fairly aggressively. One of the lowest on record. Definitely looks well-timed and a good overall return. We have arranged the new facility of $72.7 million for the refinancing of three existing facilities with short and medium term durations. Thanks you Angeliki and good morning all. Just trying to understand how you're thinking about the work to be done on that side? Then, Mr. Achniotis will provide an operational update and the industry overview. Angeliki Frangou. 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. Angeliki Frangou is Chairman/CEO at Navios Maritime Holdings Inc. See Angeliki Frangou's compensation, career history, education, & memberships. We'll go next to Omar Nokta, Clarksons Securities. Or is this purely a fleet renewal play? This will be a transformative transaction for Navios Partners and will carry the significant benefits of diversification. The increase was mitigated by 20.9% decrease in the Time Charter Equivalent rate achieved in 2020. The bailout terms will likely result in Angeliki Frangou regaining full control of her shipping empire over the next 18 months with the ultimate outcome likely a merger between Navios Maritime . Big picture just, you should understand that all the inefficiency is net positive for our business. During Q3 NMM generated $228 million in revenue and $145.2 million in adjusted EBITDA and $162.1 million in net income. So any plans for further asset sales, especially on those older vessels? Churchs Annual Stewardship & Mistletoe Gala. NMM has an enhanced base to generate free cash flow. Frangos claims his sister owes his company, First Lines, $1.18m, TradeWinds is part of DN Media Group. Our net debt to capitalization is 43.5%, and our debt maturities are targeted through 2030. Please turn to Slide 4. Purely from a point of the market, I'll say that today, you may have some more opportunities to pick up attractive dry bulk vessels because you still have some recovery. This - the advantage we took on the container vessels gave us a historically low break-even of $2,469 per open day in 2022. 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. 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. Slide 6 details our Company highlights. 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 . So this is something that we are focusing very much. 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. Net fleet growth is expected to remain low over the next 3 years, as the order book is the lowest or effort. Please turn to Slide 21. The net book is expected to close on March 31, 2021. You can read more about how we handle your information in our privacy policy. She also serves as the Chairman and Chief Executive Officer of Navios Partners L.P. and Navios Maritime Acquisition Corporation. 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. 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? The . This concludes my presentation. The financial potency of this combination can be measured through the pro forma combined results of 2020. All right, second question, looking at Slides 11 and 14, clearly showing the strength of your balance sheet, you mentioned earlier in the call, your fixed charter backlog is giving you pretty substantial cash flow visibility, very low spot day break-evens. But on the other side, we are very exposed to the market. Finally, we have very strong corporate covenants at corded efforts. Obviously it's been a large factor in the market, but has that lack of visibility to sort of the core demand created any sort of headwind to getting business done on the container shipping - just this is actually more pertinent to the container shipping side. Net debt/book capitalization was at a comfortable level of 41.7%. I think this is something that we are very [technical difficulty]. And what we are looking is how this investment we did will play. As of September 30, we had a total cash of $141.2 million and borrowings of $1.4 billion. 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. 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. For 2022 we expect a historically low break-even of $2,469 per open day with 58% of our 47,268 available days open or index-linked providing us with a market exposure. 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.Ms. While also allowing us to leverage each independent sectors fundamentals. If you look at the graph on the right, net fleet growth is focused to be 2.6% this year and only 0.7% for '22. 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. I think the sales of the older ones will slowly reduce that or I guess keep it relatively young. 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. Maritime shipping is the most environmental friendly means of transportation as it is the most carbon efficient mode of transport. 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. During the quarter ended September 30, 2021 we had 9,027 available days compared to 4,499 days for Q3, 2020. Turning to Slide 25. We see good - we see a good market potential, but we have to see it realize. Please turn to Slide 5. Total adjusted net income was $130 million compared to $8.8 million for the same period last year. Thank you, Doris, and good morning to all of you joining us on today's call. During Q3, Navios Partners recorded revenue of $228 million, adjusted EBITDA of $145.2 million and net income of $162.1 million. 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. This decline can be partially attributed to owners hesitance towards the long-lived assets in light of macroeconomic uncertainty and engine technology concerns due to upcoming CO2 restrictions. So this is basically what we have been doing and what we are seeing developing. Then Mr. Achniotis will provide an operational update and an industry overview. Yes, we have put out some details also in our press release today. By continuing to use this website, you agree to the use of cookies as set out in our full policy. With us today from the Company are Chairwoman and CEO, Ms. Angeliki Frangou; Chief Operating Officer, Mr. Stratos Desypris; Chief Financial Officer, Ms. Eri Tsironi; and Executive Vice President of Business Development, Mr. George Achniotis. 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. 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. It doesn't sound like it has, but curious if there's any sort of hold back because of that lack of visibility. Angeliki Frangou (nee Papi) was born in Ikaria in November 1915. . quarter of 2020. Included in this adjustment is a $42.6 million impairment on our investment in Navios Containers, bringing its book values to approximately $25 million. 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. 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. On October 15, 2021 we completed a transformative merger with Navios Acquisition. For the full year of 2020, Navios Partners reported revenue of $226.8 million and adjusted EBITDA of $99.8 million. The diversification allows us to balance a chartered strategy across different business segments, optimizing the profit potential with cash flow certainty. In addition 10.4% of the fleet is currently 20 years of age or older. 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. Our available days increased by 63% to 20,421, while the average nine month 2021 combined time charter equivalent rate increased by 76% to 20,991. 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. 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). So basically, we have a fortress balance sheet. The recently rapid market recovery has caused extremely high demand for available tonnage, which is in short supply across all segments. As shown on Slide 5, 2021 has been a transformational year as we expanded in new segments. However, the pandemic broke the logistics chain and basic materials had to be airlifted to combat shortages. So, how much is Angeliki Frangou worth at the age of 56 years old? This conference call should contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about Navios Partners. The increase was mainly due to the 39.3% increase in available days in Q4 2020. Forward-looking statements are statements that are not historical facts. We have been taking advantage of robust market, NMM has $2.2 billion of contracted revenue. Pro forma for the merger, our company will be 1 of the 10 largest public listed dry cargo fleet. 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. 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. 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. And to capture the spot market and wait for the period market to come. I'd like to turn the floor back over to Angeliki Frangou for any closing remarks. Wanted to maybe follow up on the commentary you just had with Randy, just in terms of deployment of capital, right now you're generating huge sums of cash. 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. Our cash balance was at $141.2 million as of September 30, and we have 28.3% in net LTV. Despite the pandemic, China set another year record for iron ore imports in 2020 at about 1.15 billion tons which is an increase of 9.4% over '19. 2021 2023 Navios South American Logistics Inc. All rights reserved. We also continued to renew and expand our fleet. I think the - you can find one year versus three year, you have basically today discovering hugely. Today NMM is one of the largest U.S. publicly listed shipping companies with 15 vessel types diversified across three segment and servicing more than 10 end markets. In addition, Ms. Frangou has been the Chairman and Chief Executive Officer of Navios Maritime Partners L.P. (NYSE: NMM), an affiliated limited partnership, since August 2007, the Chairman and Chief Executive . Through mid-March 2020 21, contracted is down by about 62% compared to the same period last year. Adjusted net income for the first nine months of 2021 amounted to $242 million compared to a $2.9 million loss for the same period last year. Navios Maritime Partners L.P. (NYSE:NYSE:NMM) Q4 2020 Earnings Conference Call March 24, 2021 08:30 AM ET Company Participants Angeliki Frangou - Chairman & CEO Stratios Desypris - CFO. My historical focus has been mostly on tech stocks but over the past couple of years I have also started broad coverage of the offshore drilling and supply industry as well as the shipping industry in general (tankers, containers, drybulk). NMM is well positioned to benefit from the different sector fundamentals. But don't forget, we are 86% of our available days open on drybulk. Our cash balance was $141.2 million as of September 30, and we have 28.3% in net LTV. And lastly, we'll open the call to take questions. Also - good afternoon and also congratulations on there, your first call here post-merger. For the fourth quarter, we generated $35.5 million in adjusted EBITDA. So we need to wait for the drybulk, we enjoy the - we have the luxury because of our balance sheet and a low break-even to really to have the luxury to be open.