angeliki frangou husband

We remain disciplined. The merger is a week away now, right, so congrats on that. And basically by ordering these vessels, you go away from the basic Panamax that used to be the vessel that was designed at that time for passing through Panama Canal, but we saw that had a good life afterwards to something that is particularly great for the necessities of the inter-Asia trade. It can be accessed online at: http://edition.cnn.com/video/#/video/business/2013/02/12/leading-women-angeliki-frangou-navios-shipping.cnn. We believe that this combination offers a stronger, more resilient entity mitigating sector specific cyclicality. 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 . Yes, no that's fair. In addition 10.4% of the fleet is currently 20 years of age or older. Please turn to Slide 5. I will briefly discuss on key balance sheet data as of December 31, 2020. As a result, we re-imagined the modern shipping company. Long-term borrowings, including the current portion, net of deferred fees amounted to $486.9 million. Thank you for joining us for Navios Maritime Partners Third Quarter 2021 Earnings Conference Call. Thank you for your participation. Post-merger NMM will have approximately 19.7 million units outstanding. The Globe and Mail A 14,000-ton freighter, the Fulvia, lay in Rio de Janeiro, unloved and very. Conditions are not as favorable elsewhere. What is unique - what we like about this is vessel is about in the [indiscernible] flexible vessel at 260 meters, very nice dimensions, you can actually take advantage of the point to point transportation that is now developing the difference on the supply chains and from - and all these, you know just in time to just in case. 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 realities we see our service as a growth platform that we're in the right part of the cycle, meaning we see great upside potential with our fleet. Navios Maritime Partners L.P. Secures Unitholder Approval and Completes 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. Is this happening to you frequently? She also serves as the Chairman and Chief Executive Officer of Navios Partners L.P. and Navios Maritime Acquisition Corporation. Diversification takes advantage of global trade patterns and Slide 8 illustrate this. Angeliki Frangou, Navios Maritime Holdings Inc: Profile and Biography 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 you can see in the blue box on the lower right, increases in demand for goods, port congestion and restocking will lead to container demand growth of 6.3% in 2021, and 3.9% in '22. The average Q3, 2021 time charter equivalent rate achieved per segment was Bulkers, $28,926 per day. And do you have a maybe preference there in terms of repurchases or distribution increase? But I'm talking about as a portfolio, you'd like to keep an age profile characteristics somehow on a certain level. Our cash balance was $141.2 million as of September 30, and we have 28.3% in net LTV. Document filed by Norman Roberts. 20 Angeliki Frangou, Navios :: Lloyd's List 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. Not only does diversification provide strength but it also brings opportunity. The full results of operation of Navios Containers will be included in Navios Partners comments commencing April 1, 2021. For more information and how to manage your privacy settings, please refer to our privacy and cookie policies. And today we fix over four years, and you know with 2.5 times the rate. 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. At this point, I would like to turn the call over to Mr. Stratos Desypris, our Chief Operating Officer, that will take you through the segment data. We have fixed 10 of our containerships for long durations, creating approximately $690 million in contracted revenue. Maybe just, I know, one final one I did want to ask. We have about - commercial banks, about $600 million in Japanese and Chinese leases, which provides us more easier covenant. The pandemic changed everything. Well, thanks, Angeliki for your comments. Also - good afternoon and also congratulations on there, your first call here post-merger. And we always get - we get advantage of this on the long-term period because they need of turner. Lawsuit claims Frangou and board sought to push out shareholders But also, would like to also use the excess in deleveraging. We also continued to renew and expand our fleet. 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. Angeliki? In the East China is struggling with its zero Covid strategy.. Please. But also to, you know, a recovery on the tanker segment. To access the webcast, please go to the Investors section of Navios Partners' website at www.navios-nlt.com. Angeliki Frangou | Management | Navios Maritime Holdings For example, global GDP in 2019 equals $88 trillion, almost 30x the global GDP of $2 trillion in 1970. The vessel we expected to be delivered in the second half of 2022. 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" ). She is currently single. Scrapping totaled 16 million tons in 2020, almost doubles the 2019 total. Turning to Slide 25, VLCC net fleet growth is projected at 3.6% for 2021 and only 1.6% for '22. 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. During the quarter ended September 30, 2021 we had 9,027 available days compared to 4,499 days for Q3, 2020. In this limited sphere we are optimistic. This completes our quarterly result for NMM. In this process, we have been pioneering and are adopting certain environmental regulations up to 2 years in advance. Yet we still have 2,473 open or index-linked days. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Turning to Slide 22. So you are actually creating this cash flow when the market is right. Our merger with Navios Maritime Containers was approved and is expected to close on March 31, 2021. Building us a significant base of collateral value. [Operator Instructions] We take our first question from Randy Giveans with Jefferies. If you have an ad-blocker enabled you may be blocked from proceeding. The remaining 34% of available base that are open all on indexing chargers provided with more upside. Greece and Cyprus: the success story of the Eastern Mediterranean, says Endy Zemenides, A Visit to St. Nicholas National Shrine at the WTC, Hellenic Lawyers Association Holds 32nd Annual Gala, National Hellenic Society Fundraiser in NY for the Promotion and Preservation of Greek Heritage a Great Success, Carol Burnett The First Lady of Television Comedy, 3rd Annual Athens Square Park Christmas Tree Lighting Ceremony, The Hellenic Initiatives 10th Anniversary New York Gala Raises More Than $2M, Were Back! Annunciation G.O. And lastly, we'll open the call to take questions. 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. We have been taking advantage of robust market. 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. Please turn to Slide 21 focusing on the container industry. Thanks, Angeliki. I am not receiving compensation for it (other than from Seeking Alpha). 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. In Slide 14, you can see the latest update on our fleet. 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. Over the PIK Period, I would estimate the amount of Convertible Debentures held by NSM to increase to almost $100 million, sufficient for Angeliki Frangou to regain full control of Navios Maritime Holdings. 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. Our cost of debt has been significantly reduced as a result of the refinancing with the term loyalty as well as the decrease in LIBOR rates. Shipping is always very, very profitable. 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. 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. People seem to have concluded that you cannot reliably provide goods if the system has a single point of failure. Angeliki Frangou steers Navios towards emerging economies For the full year of 2020, Navios Partners reported revenue of $226.8 million and adjusted EBITDA of $99.8 million. 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. Please turn to Slide 4. Next, Mr. Desypris, will give an overview of Navios Partner's financial results. Additionally, we have a staggered maturity profile with no significant maturities through 2023. And what we are looking is how this investment we did will play. We have a large modern diverse fleet of 85 vessels with a total capacity of 7.8 million deadweight tons. Of course we also entered into the crude and product tanker segment. So this is a net benefit, the inefficiency. 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. We understood that with over 4,000 sailors at sea, when the phone rang, we had to answer it. Our merger with Navios Containers increased our containerships by 29 vessels. Net fleet growth is expected to remain low over the next 3 years, as the order book is the lowest or effort. Okay. Cash and cash equivalents was $30.7 million. 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. I think that one issue that I faced, no matter was on 140 vessel fleet, you will have some replacement. The pandemic substitution of goods for services is returning to more normal levels; expenditures for travel and entertainment and services generally are skyrocketing. I think the number one is that, what we see is a good positioning on the company. We use your data to ensure you have a secure and enjoyable user experience when visiting our site. Our cash balance was at $141.2 million as of September 30, and we have 28.3% in net LTV. I'll turn it over. 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. What does the liquidity look like across the one year to three year time-frame? The net book is expected to close on March 31, 2021. The recently completed merger with Navios Acquisition gave us a strong foothold in this tanker sector with 45 tanker vessels. The . Please turn now to Slide 24 for the review of the tanker industry. I have no business relationship with any company whose stock is mentioned in this article. And you don't see the 3-year market developing. We have question from the line of Randall Giveans of Jefferies. Pro forma for the merger, our company will be 1 of the 10 largest public listed dry cargo fleet. 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. As shown on Slide 5, 2021 has been a transformational year as we expanded in new segments. I think the sales of the older ones will slowly reduce that or I guess keep it relatively young. Indeed, in the US, air travel is at 2019 levels, she explained. 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. 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. I think that will give us a long-term view on the right. The nominal GDP today is exponentially higher than compared to the nominal GDP of 50 years ago. Just wanted to actually ask about how you're thinking about the capital structure from here. Additional availability of Atlantic exports to the Far East are expected to increase as steel mills replenish stockpiles. Meanings for Angeliki Frangou A popular Greek shipowner and Director who served as a Chief Executive Officer of Navios Maritime Holdings. 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 Holdings and Navios Partners with Ms. Frangou grabbing a large stake in the combined company. Angeliki Frangou - Chairman and Chief Executive Officer Stratos Desypris - Chief Financial Officer George Achniotis - Executive President-Business Development Conference Call Participants Chris. We aspire to have zero emissions by 2050. Net loan-to-value is about 28.3% in an asset base estimated at over $4.5 billion. And we have seen it. Accordingly, 2021, net fleet growth is expected at 2.6% and only 0.7% for '22. And NMM already has more than that contracted for 2021. Just trying to understand how you're thinking about the work to be done on that side? Angeliki Frangou - Wikipedia Sometimes it's in newbuildings, sometimes it's in secondhand vessels in different sectors. The entity will have an enhanced credit profile through increased cash flow supporting deleveraging as well as growth. 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 . Global grain trade has been growing by 5% CAGR since 2008, mainly driven by Asian demand. What will it take to increase the distribution? NMM has a strong balance sheet with low leverage, 43.5% in combined net-debt-to-book capitalization and man has diversification and scale with an 85 vessel fleet we ranked in the top-10 among the publicly incited cargo fleet, about 66% of our available base assets at an average charter rate of $18,612 net per day and 34% of our fleet available days are open or the index link. We are also constantly working on refinancing and extending maturities. 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 . The financial information is included in the press release and is summarized in the slide presentation on the company's website. And how will you balance that with maybe unit repurchases as you're still trading at a pretty massive discount to NAV. You know, it's like as we die. We consolidated our separate activities in dry bulk and in containers and in tanker under one roof. This factor stimulus has led to historic turnaround in global container trade. 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. The current average contracted net rate of the four vessels is approximately $2,600 per day. TradeWinds is part of DN Media Group AS. Importantly, the precent of decrease perhaps understates the impact. Angeliki Frangou biography. Navios Maritime Partners' (NMM) CEO Angeliki Frangou on - SeekingAlpha About one-third of our fleet will be in each of the dry . Angeliki Frangou has been Navios Logistics Chairwoman and a Member of the Board of Directors since its inception in December 2007. Frangos claims his sister owes his company, First Lines, $1.18m, TradeWinds is part of DN Media Group. Now I will review the safe harbor statement. Just trying to understand, if that's actually sort of impacting your operations outside of just sort of the rate impact. Based on yesterday's closing price of Navios Containers units, our investment amounts to over $110 million. 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. We see good - we see a good market potential, but we have to see it realize. "In terms of future prospects, I am optimistic but I wish it were for different reasons," she said. Angeliki Frangou has been Navios Logistics' Chairwoman and a Member of the Board of Directors since its inception in December 2007. Editor's note: US District Judge Mary Ann Vial Lemmon dismissed the litigation against the owners of Mariner Shipyard in April 2010. 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. We have currently fixed 66% of our 29,526 available days for 2021. So this is a big investment for Q3. But on the other side, we are very exposed to the market. 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. More specifically, we have contracted our six newbuilding containerships delivering in 2023 and 2024 for five years at an average rate of $37,050 net per day generating about $420 million of contracted revenue. In addition, Ms. Frangou has been the Chairwoman and Chief Executive Officer of Navios Partners (NYSE: NMM), an affiliated limited partnership, since August 2007. Angeliki Frangou, chief executive of Navios Maritime Holdings, is being sued in New York federal court, alleging she tried to force out preferred shareholders to enrich herself. But on this containership opportunity, how repeatable could you say that deal is? 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. 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. This concludes my presentation, I would now like to turn the call over to Angeliki for her final comments. The financial potency of this combination can be measured through the pro forma combined results of 2020. There are 2 older and 5 younger executives at Navios Maritime Acquisition Corp. Part 1 of the interview examines Angeliki Frangou's start in business and development of the Navios Group of Companies. Slide 6 details our Company highlights. The pandemic changed everything. According to our Database, She has no children. As previously mentioned, stimulus measures have caused recovery of consumption in the advanced economies. EBITDA and net income for the first nine months of 2021 include an $80.8 million gain from equity in net earnings of affiliated companies, a $48 million bargain purchase gain upon obtaining control of Navios Containers and Navios Acquisition, a $30.3 million gain related to the sale of seven of our vessels, and $2.9 million transaction cost in relation to the merger with Navios Acquisition. The container segment began strengthening in the third quarter of 2020, while the dry bulk market become turning in 2021. Service was accepted by Israel David. Finally, turning to Slide 26, product tanker net fleet growth projected at 2.4% for 2021 and only 1.9% for '22. And we have the tanker sector that we are watching as establish. We have been taking advantage of robust market, NMM has $2.2 billion of contracted revenue. Your balance sheets in great shape. 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. And this is something that actually has benefited quite significant on these market, especially on the container. The large entity will benefit from a simplified capital and an organizational structure, thereby, reducing costs. Turning to Slide 12. Additionally, we are positioning our dry bulk fleet for what we hope will be a strong balance of 2021. Early life and education [ edit] Slide 7 sets forth key strength of the compliance entity. 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. 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. We use your data to ensure you have a secure and enjoyable user experience when visiting our site. Net debt to book capitalization was 40% at the end of the year. 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. She is the Chairman, Chief Executive Officer and Director of Navios Maritime Holdings., of Navios Maritime Partners L.P., of Navios Tankers Management Inc. and Navios Maritime Acquisition Corporation. On average, we are approximately just over $15,000 chartered on the dry side and around $17,000 on the containerships. Adjusted net income for 2020 amounted to $12.8 million. Angeliki Frangou - Net Worth February 2023, Salary, Age, Siblings, Bio 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. During Q3, Navios Partners recorded revenue of $228 million, adjusted EBITDA of $145.2 million and net income of $162.1 million. 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. 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. This completes our Q4 results. 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. Thank you, Angeliki, and good morning. 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 this is something we like to give the flexibility of having the Asian leases plus the commercial banks in Europe. This concludes my presentation. Angeliki? We have majority independent directors and independent committees, not to say our management operations. 2021 drybulk trade is projected to increase by 4.5% and further increase by 2.9% in '22. Angeliki N. Frangou is Chairman of the Board, Chief Executive Officer of Navios Maritime Holdings Inc. The IMF projects global GDP growth at 5.9% for 2021 and 4.9% for '22. 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. The current orderbook stands at 6.8% of the fleet. 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. Turning to Slide 14, I will briefly discuss some key balance sheet data as of September 30, 2021. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. 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. Total adjusted net income was $130 million compared to $8.8 million for the same period last year. The 2020 decrease is mainly attributable to Indian and Chinese imports declining by 13.8%, respectively. And the tanker sector is just coming off - just coming up from a very low point, which was the lowest point in Q3. click here. Today, the BDI stands at 2,271 with a year-to-date average more than double its level at the start of 2020, and the highest it has been in 11 years. We believe that the overall tanker orderbook and fleet are well-balanced as the IMO 2023 and ballast water management regulations will lead to some vessel retirements in the coming months. While we are positioned to capture the market upside, through our forward available days, our diversified chartering strategy has enabled to secure a pipeline of over $2.2 billion of contracted revenue. Eri? And some are shown on the chart on the bottom of the slide, we have increased available days by 171% to 47,268 available days. The benefits of diversification are reflected in recent market activity. 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. Its been four years since the last Posidonia. Instead, interest payments will have to be made in the form of new, unsecured convertible debentures (the "Convertible Debentures"). Part 3 recaps Angeliki Frangou's career and the Navios Group. Please disable your ad-blocker and refresh. Will you order those ships and then subsequently contracted them and now you have basically a five year, maybe 5.5 year payback. 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. 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. 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. Yiayia Aggela in the 1980s with her husband, children Yianni and Sofia, her son-in-law, and a grandson.

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