This resulted in a reduction of interest expense for 2020 by approximately $15 million compared to 2019. Big picture just, you should understand that all the inefficiency is net positive for our business. The remaining 34% of available base that are open all on indexing chargers provided with more upside. I am not receiving compensation for it (other than from Seeking Alpha). Now I will review the safe harbor statement. Angeliki Frangou is 55, she's been the Chairman of the Board and Chief Executive Officer of Navios Maritime Acquisition Corp since 2008. This would lead to a pickup in scrapping in 2022 and high scrapping prices combined with IMO 2023 CO2 reduction rules may induce a portion of the overage fleet to scrap. Containers $22,418 per day, and Tankers $15,066 per day. 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. Fleet utilization was approximately 99%. But could there be any sort of headwind getting, any sort of incremental business done or extending - for or extending any particular charges to vessels. In this process we have been pioneering and are adopting certain environmental regulations up to two years in advance, aiming to be one of the first fleets to achieve full compliance. Excluding these items, total adjusted EBITDA for Q3 amounted to $145 million compared to $31 million for the same period last year. The large entity will benefit from a simplified capital and an organizational structure, thereby, reducing costs. Net fleet growth for 2021 is expected at 3.5% and only 1.5% for '22 below the projected increase in drybulk demand for both years. Such risks are fully discussed and are described in filings with the Securities and Exchange Commission. 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. As Angeliki mentioned earlier, today, the Navios Containers unitholders approved the measure of Navios Partners. 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. Is that a repeatable opportunity you think? Maritime shipping is the most environmental friendly means of transportation as it is the most carbon efficient mode of transport. 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. For the fourth quarter, Navios Partners reported revenue of $69.2 million and adjusted EBITDA of $35.5 million. In Slide 11, you can see the strength and stability of our balance sheet. The financial potency of this combination can be measured through the pro forma combined results of 2020. You know, it's like as we die. Using the client market average time charter rate of $23,549 per day, we believe NMM is well positioned for a strong 2021. Not only does diversification provide strength but it also brings opportunity. 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. Angeliki Frangou Net Worth Her net worth has been growing significantly in 2020-2021. 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. Angeliki Frangou has been Navios Logistics Chairwoman and a Member of the Board of Directors since its inception in December 2007. 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. Our diversification strategy creates resilience in the overall business model and enable us to mitigate individual segment volatility. Moving to the earnings highlight in Slide 13. Navios corporate chairwoman Angeliki Frangou and other executives combined a tender offer last month for the outstanding American depository shares at a fraction of the unpaid dividends' value . 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. Part 1 of the interview examines Angeliki Frangou's start in business and development of the Navios Group of Companies. Thank you, Daniella, and good morning to all of you joining us on today's call. CHARTERING OFFICER/MANAGER GAS CARRIERS/TANKERS, Panamax Chartering Manager, Chartering Broker. We aspire to have zero emissions by 2050. 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. 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 . NMM has $2.2 billion of contracted revenue. Thank you. Also we have strength and stability in our balance sheet. Navios uses cookies on this website. But also, would like to also use the excess in deleveraging. I will briefly review Navios' financial results for the Fourth Quarter and Year Ended December 31, 2020. Angeliki Frangou. Angeliki Frangou is Chairman/CEO at Navios Maritime Holdings Inc. See Angeliki Frangou's compensation, career history, education, & memberships. convertible debentures (the "Convertible Debentures"). Slide 6 goes through recent developments. I would also like to highlight that 2021 results not comparable to 2020 as in 2021 NMM acquired two companies and is expected to increase its available days by 85% in 2021 and by 171% in 2022 compared to 2020. So, on that, what - after these two conditions, we are seeing as a return, a total return to our investor is an important part of our strategy. And we always get - we get advantage of this on the long-term period because they need of turner. However, it should be noted that current rates are still above two times the 10-year averages. TradeWinds is part of DN Media Group AS. Ms. Frangou is also a Member of the Foundation for Economic and Industrial Research. Turning to Slide 14, I will briefly discuss some key balance sheet data as of September 30, 2021. The nominal GDP today is exponentially higher than compared to the nominal GDP of 50 years ago. This conference call should contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about Navios Partners. 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. These together with near record low orderbook could boost crude and product tanker rates in the near term. Accordingly, 2021, net fleet growth is expected at 2.6% and only 0.7% for '22. The financial information is included in the press release and is summarized in the slide presentation available on the Company's website. Please. I note that we were able to sell these vessels for a book gain in this excellent market as we manage our rate profile. And what we are looking is how this investment we did will play. Angeliki? I am pleased with our results for the third quarter of 2021. NMM has a solid balance sheet and a modest leverage, a healthy income statement and a pipeline of about $2.2 billion in contracted revenue. Moving to the first nine month 2021 period, time charter revenue reached $445 million compared to $158 million in 2020. For drybulk, we increased capacity by 36% and reduced average age by 18%. The oldest executive at Navios Maritime Acquisition Corp is Brigitte Noury, 66, who is the Independent Director. Editor's note: US District Judge Mary Ann Vial Lemmon dismissed the litigation against the owners of Mariner Shipyard in April 2010. Vietnam and other Southeast Asian countries, increased coal imports by 13%. 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%. Finally, we have very strong corporate covenants at corded efforts. In terms of future prospects, Angeliki Frangou remains optimistic but wished she felt that way for different reasons. Turning to Slide 22. You can read more about how we handle your information in our privacy policy. We are going to acquire 3 Janpanese fleet mid-sized vessels contracted under 15 gigabits of instruction. 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. Our cash balance was at $141.2 million as of September 30, and we have 28.3% in net LTV. In just the last month, sub trade time charter rates have hit 10-year highs in what is normally a seasonal low period. 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. 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. To access the webcast, please go to the Investors section of Navios Partners' website at www.navios-nlt.com. over to Navios Partners' Chairman and CEO, Mr. Angeliki Frangou. Thank you, Doris, and good morning to all of you joining us on today's call. For 2021 contracted revenue is expected to generate $12.6 million in excess of total fleet expense. In 2021 we've completed two mergers. So the target is always to bring down the debt and that is to about 20%. Our fleet is in the top-10 publicly listed dry cargo fleet globally, as measured by a number of vessels. Okay. 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. 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. You building contracting was down 56% in 2020 compared to '19. Additionally, we have a staggered maturity profile with no significant maturities through 2023. Document filed by Norman Roberts. The current order book stands at a record low of 5.7% of the fleet. Thank you for joining us for Navios Maritime Partners Third Quarter 2021 Earnings Conference Call. But on this containership opportunity, how repeatable could you say that deal is? To read more about DN Media Group, This completes our formal presentation, and we open the call to questions. 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. CEO and Chairwoman Angeliki Frangou recently disclosed a 40.8% ownership stake on an as-converted basis and indicated her intention to purchase additional common shares for up to $20 million. 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. Is this happening to you frequently? Frangos claims his sister owes his company, First Lines, $1.18m, TradeWinds is part of DN Media Group. And it was somewhat opportunistic at the time, they were on a speculative basis I guess or at least orders without charters. You'll see the webcast 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. You need to wait and see that market develop. 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. George? We understood that with over 4,000 sailors at sea, when the phone rang, we had to answer it. The benefits of diversification are reflected in recent market activity. Ms. Frangou has also been the Chairwoman and Chief Executive Officer of Navios Maritime Holdings Inc. (NYSE: NM). Its been four years since the last Posidonia.