angeliki frangou husband

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. Please turn to Slide 5. For drybulk, we increased capacity by 36% and reduced average age by 18%. 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. 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. Had the merger been effective for 2020, the pro forma revenue would have been $354 million. You mentioned that you sold the 2006 Panamax, but still have a handful of 2004 and 2005 built vessels. I think the - you can find one year versus three year, you have basically today discovering hugely. Forward-looking statements are statements that are not historical facts. I will briefly discuss on key balance sheet data as of December 31, 2020. And then now that, obviously, the dry bulk and containership markets are both extremely strong. As Angeliki mentioned earlier, today, the Navios Containers unitholders approved the measure of Navios Partners. $690 million of contracted revenue. As Angeliki mentioned, earlier the merger with Navios Acquisition was completed on October 15, 2021. 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. Thank you. No, yes, that makes sense. 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. I note that we were able to sell these vessels for a book gain in this excellent market as we manage our rate profile. Turning to Slide 15, you can our ESG initiatives. Not only does diversification provide strength but it also brings opportunity. The merger is a week away now, right, so congrats on that. I think that will give us a long-term view on the right. The structure provides for an effective purchase price of $41.5 million and an effective interest rate fixed for a festive period of 4.4%. In this process, we have been pioneering and are adopting certain environmental regulations up to 2 years in advance. So the target is always to bring down the debt and that is to about 20%. 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. Mortgage Notes (the "Ship Mortgage Notes") next month followed by $155 million in 11.25% Senior Secured Notes in August (the "Senior Secured Notes"). 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. The average combined Q3, 2021 franchise equivalent rate of our vessels increased by 79%, $24,447 per day. Global grain trade has been growing by 5% CAGR since 2008, mainly driven by Asian demand. 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. It doesn't indicate, now on actual investment, we just completed a $1 billion investment, 45 vessels in the tanker segment. For the full year of 2020, Navios Partners reported revenue of $226.8 million and adjusted EBITDA of $99.8 million. 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. But most importantly, we were there for each other, she said emphatically and added: Oddly, the enforced isolation of the pandemic also provided time to reconsider our business. Now I will review the safe harbor statement. If we find opportunities, we can always expand. Moving to the first nine month 2021 period, time charter revenue reached $445 million compared to $158 million in 2020. It doesn't sound like it has, but curious if there's any sort of hold back because of that lack of visibility. These together with near record low orderbook could boost crude and product tanker rates in the near term. The result was a combination of the expansion of our fleet and the improved time charter equivalent rate. 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? NAVIOS Group chief executive Angeliki Frangou has told a shipping audience in Athens that she is optimistic about future industry prospects even though shipping can be considered to be at a historic and confusing crossroads. The transaction based scale through a larger diversified asset base with an increased earning capacity. The increase was mainly due to the 32.3% increase in available days of 2020. Celebs Wiki Angeliki Frangou fans also viewed: Daniel David 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. 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. 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. Our fleet consists of 49 dry bulk vessels and 26 Containerships. 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. Please. On the grain side, global grain trade continues to be supported by an ever-increasing world population. In the East China is struggling with its zero Covid strategy.. Slide 13 shows the details of our combined fleet, giving effect of the merger of Navios Containers. 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). We remain disciplined. And to capture the spot market and wait for the period market to come. We aspire to have zero emissions by 2050. The financial potency of this combination can be measured through the pro forma combined results of 2020. 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. Please. Service was accepted by Israel David. And today we fix over four years, and you know with 2.5 times the rate. hen she referred to the Russian invasion of Ukraine and emphasized that the consequences of this war and the related sanctions are accelerating inflation and rising interest rates. I mean when we did the transaction we - when we did the transaction we're about 35%, we increased our debt to about 35%. The IMF projects global GDP growth at 5.9% for 2021 and 4.9% for '22. Now 30,000 is a very good level. So we're creating this with this different two tier financing. Year-to-date we expanded our drybulk fleet by 10 vessels increasing drybulk capacity by 36% and reducing its average age by 18% pre-acquisition calendar does not distract us from our balance sheet. This complete formal presentation and we open the call to questions. 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 . Part 1 of the interview examines Angeliki Frangou's start in business and development of the Navios Group of Companies. 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 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. The battle follows four legal notices filed by Frangos in Greece late last year, containing a raft of accusations against his sister and two companies she controls. Navios Partners controls 142 vessels with balanced exposure to the drybulk, containership and tanker segments. 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. Terms of the bail-out package will likely result in Ms. Frangou regaining full control of Navios Maritime Holdings. The move would be a financial windfall for Frangou, who owns 30.6%, TradeWinds is part of DN Media Group. Will you order those ships and then subsequently contracted them and now you have basically a five year, maybe 5.5 year payback. The graph on the left shows that for '21, we have to demand for the 3 major cargoes of iron ore, coal and grain is focused on increased by over 3% compared to 2020. 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. CHARTERING OFFICER/MANAGER GAS CARRIERS/TANKERS, Panamax Chartering Manager, Chartering Broker. 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 . Thank you, George. So what you should expect from us is a replacement of assets, the new and of fleet, which is part of our ongoing process and strong cash generation with a deleveraging effect. over to Navios Partners' Chairman and CEO, Mr. Angeliki Frangou. Yes, totally understand the benefits to sort of the market capacity and rates. It is a matter of level, and I want to remind that, and this is something in the back of our mind. Please turn now to Slide 24 for the review of the tanker industry. Angeliki Frangou (born 1965) (Greek: ) is a Greek shipowner. I now pass the call to Eri Tsironi, our CFO, which will take you through the financial highlights. Net debt to book capitalization was 40% at the end of the year. The group controls approximately 100 drybulk and tanker vessels transporting products ranging from grains, soy, and iron ore to chemicals and petroleum. At Navios, the pandemic galvanized us. Of course we also entered into the crude and product tanker segment. 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 New York Stock Exchange, including Navios Maritime Holdings Inc. (NYSE: NM), Navios Maritime Partners L.P. (NYSE: NMM) and Navios Maritime Acquisition Corporation (NYSE: NNA). On Slide 8, we lay out global GDP growth since 1970. 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. Angeliki? 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. Navios Partners does not assume any obligation to update the information contained in this conference call. Vaccine roll-outs, continued fiscal stimulus and governmental infrastructure projects will continue to support economic growth. I mean, you have much larger asset base. It's more diversified, you're thinking about basically moving forward with an even lower level of leverage than you have. And I think on a - it seems to be that Q3 was the low part of the tanker segment, and we are seeing the market slowly recovering. Sometimes it's in newbuildings, sometimes it's in secondhand vessels in different sectors. Focus are also for growth in iron ore imports around the world as the effects of the pandemic received. 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. During Q3, Navios Partners recorded revenue of $228 million, adjusted EBITDA of $145.2 million and net income of $162.1 million. Pro forma for the merger, our company will be 1 of the 10 largest public listed dry cargo fleet. Turning to Slide 19. And that one other thing we have done is we have about $1.5 billion in, I mean, Eri will give the exact numbers, but $1.5 billion on debt. Included in this adjustment is a $42.6 million impairment on our investment in Navios Containers, bringing its book values to approximately $25 million. And what we are looking is how this investment we did will play. Next, Ms. Tsironi will give an overview of Navios Partners financial results. The oldest executive at Navios Maritime Acquisition Corp is Brigitte Noury, 66, who is the Independent Director. 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 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. Thank you, Stratos, and good morning all. This has led to a change in trading patterns for the containerships, which has resulted in a historic turnaround in rates. I wrote this article myself, and it expresses my own opinions. Angeliki Frangou biography. 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 . New York-listed Navios Maritime Holdings vows to fight, claiming it was vindicated in similar lawsuit. Just wanted to actually ask about how you're thinking about the capital structure from here. Definitely looks well-timed and a good overall return. Just trying to understand how you're thinking about the work to be done on that side? Overall, world grain sales increased by 7.7% in 2020 is expected to increase by about 2% in '21. In addition, Russia and Ukraine account for about one third of the global wheat supply and 186.7 million tons of seaborne coal. We are about two years below industry average. The recently completed merger with Navios Acquisition gave us a strong foothold in this tanker sector with 45 tanker vessels. So basically, we have a fortress balance sheet. And overall we like to have a low leverage. The net result is that we should have more predictable entity level return. We have question from the line of Randall Giveans of Jefferies. Thank you, Daniella, and good morning to all of you joining us on today's call. The floor is now open for questions. But purely the volatility that we show create, you know, people are still waiting to make an assessment on period. And this is something that actually has benefited quite significant on these market, especially on the container. Just trying to understand, if that's actually sort of impacting your operations outside of just sort of the rate impact. Well, thanks, Angeliki for your comments. Maybe just, I know, one final one I did want to ask. Excluding these items, adjusted EBITDA for the nine months of 2021 amounted about $270 million compared to $64 million for the same period last year. Please disable your ad-blocker and refresh. We continue to renew our fleet and improve average profile. Conditions are not as favorable elsewhere. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. We do not see this easing anytime soon, but we are watching it carefully, Angeliki Frangou concluded. 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"). In the West, the worst impacts of Covid appear to be fading. Navios Maritime Partners L.P. (NYSE:NMM) Q3 2021 Earnings Conference Call November 10, 2021 8:30 AM ET, George Achniotis - EVP, Business Development. 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. Net loan-to-value is about 28.3% in an asset base estimated at over $4.5 billion. At this point, I would like to turn the call over to Mr. Stratos Desypris, Navios Partners' CFO, who will take you through the results of the Fourth Quarter and Full Year of 2020. Notwithstanding this accounting in [indiscernible], economically, our investment has significantly increased in value. 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. 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. 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. Containers $22,418 per day, and Tankers $15,066 per day. To read more about DN Media Group, Our fleet is in the top-10 publicly listed dry cargo fleet globally, as measured by a number of vessels. However, [indiscernible] quarters along with global oil demand returning to 2019 levels have brought OECD inventories below their 5-year average. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. We have currently fixed 66% of our 29,526 available days for 2021. At Navios, the pandemic galvanized us. It can be accessed online at: http://edition.cnn.com/video/#/video/business/2013/02/19/leading-women-angeliki-frangou-daniela-mercury.cnn. I think the sales of the older ones will slowly reduce that or I guess keep it relatively young. I think a low leverage is a big driver to our model. You may disconnect at any time. 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. We have - we see the potential, but we see - we need to see it materialize. So this is something that we are focusing very much. Big picture just, you should understand that all the inefficiency is net positive for our business. The information set forth herein should be understood in light of such risks. Slide 7 sets forth key strength of the compliance entity. This resulted in a reduction of interest expense for 2020 by approximately $15 million compared to 2019. 2021 2023 Navios South American Logistics Inc. All rights reserved. According to our Database, She has no children. Moreover, Navios optimizes its flexible chartering strategy to leverage on fundamentals across its three sectors and calibrate charter 10 based upon segment opportunity. In terms of future prospects, Angeliki Frangou remains optimistic but wished she felt that way for different reasons. 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. We believe that this combination offers a stronger, more resilient entity mitigating sector specific cyclicality. To access the webcast, please go to the Investors section of Navios Partners' website at www.navios-nlt.com. Please turn to Slide 21 focusing on the container industry. For the full year of 2020, Navios Partners reported revenue of $226.8 million and adjusted EBITDA of $99.8 million. We consolidated our separate activities in dry bulk and in containers and in tanker under one roof. Yes, no that's fair. We use your data to ensure you have a secure and enjoyable user experience when visiting our site. 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. The event was held during . The current order book stands at a record low of 5.7% of the fleet. Slide 7 reviews our recent development. We'll take the next question from James with Citigroup. The container segment began strengthening in the third quarter of 2020, while the dry bulk market become turning in 2021. And lastly, we'll open the call to take questions. We aspire to have zero emissions by 2050. I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. Sure. In 2021 we've completed two mergers. And do you have a maybe preference there in terms of repurchases or distribution increase? 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. During Q3 NMM generated $228 million in revenue and $145.2 million in adjusted EBITDA and $162.1 million in net income. So, how much is Angeliki Frangou worth at the age of 56 years old? Our office had to remain open. Angeliki Frangou. Food security issues driven by the pandemic as well as increasing broadening demand worldwide. And we have the tanker sector that we are watching as establish. This factor stimulus has led to historic turnaround in global container trade. Its impossible to know what this all means, she underlined, adding that there are too many potential consequences to digest and analyze. 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. Moving to the earnings highlight in Slide 13. Yes, thank you. About a third of our fleet operate in each of the drybulk, containerships and tanker segment. I'll turn it over. TradeWinds is part of DN Media Group AS. Angeliki Frangou is Chairman/CEO at Navios Maritime Holdings Inc. See Angeliki Frangou's compensation, career history, education, & memberships. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Our Board is composed by majority Independent Directors and Independent Committees that oversee our management and operations. Additional availability of Atlantic exports to the Far East are expected to increase as steel mills replenish stockpiles. 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. This will be a transformative transaction for Navios Partners and will carry the significant benefits of diversification. I'll turn the call back over to Angeliki for any closing remarks. Through this S&P activities we increased our fleet size and reduced average age for our existing segments. Over the last five years, around 40% of European natural gas and 27% of European oil was supplied by Russia. Fleet utilization for the fourth quarter of 2020 was almost 100%. Chinese steel production surpassed the 1-billion tons mark in 2020. We are focusing on taking advantage of the different fundamentals across the sector we operate to maximize profitability. 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. But overall, today the biggest thing that we have to see is that we have created operationally a unique platform. 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. We are also constantly working on refinancing and extending maturities. Then Mr. Achniotis will provide an operational update and an industry overview. And then you mentioned the word replacement, right. Vessels over 20 years of age are about 7.6% of the total fleet, which compares favorably with the previously mentioned record low order book. And we have market exposure of 53.5% of our days for this year. 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. I have no business relationship with any company whose stock is mentioned in this article. What we have done is that, we have created a fortress balance sheet by chartering the container sector, which is extremely strong. Angeliki Frangou is 55, she's been the Chairman of the Board and Chief Executive Officer of Navios Maritime Acquisition Corp since 2008.

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