For simplicity, the discussion of the financial results below exclude the effect of the one-off items listed in this slide. We expect to be able to provide more predictable returns to our unitholders despite uneven sector performance. As a reminder, this conference call is being webcast. The benefits of diversification are reflected in recent market activity. The Leading Women with Becky Anderson Series can be viewed online at: http://edition.cnn.com/SPECIALS/leading-women. Debt-laden dry bulk shipper is bailed out by CEO and Chairwoman Angeliki Frangou. Our net debt to capitalization is 43.5%, and our debt maturities are targeted through 2030. 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. Total adjusted net income was $130 million compared to $8.8 million for the same period last year. But also, would like to also use the excess in deleveraging. For more information and how to manage your privacy settings, please refer to our privacy and cookie policies. Ms. Frangou has also been the Chairwoman and Chief Executive Officer of Navios Maritime Holdings Inc. (NYSE: NM). Navios has deescalating [indiscernible] options on the vessels starting in year 4 before the charter generation. 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. Is this happening to you frequently? At the same time, but there is increasing industrial production and economic growth in China. Our contracted revenue alone exceeds our total fleet expenses by $12.6 million. So basically, we have a fortress balance sheet. According to our Database, She has no children. We are a premier dry cargo shipping platform with about $900 million of contracted revenue. The round up show premieres on the 4th Wednesday of every month. I have no business relationship with any company whose stock is mentioned in this article. And you need to be always running the different scenarios. 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. Notwithstanding this accounting in [indiscernible], economically, our investment has significantly increased in value. We also continued to renew and expand our fleet. During this time, I managed to successfully maneuver the burst of the dotcom bubble and the aftermath of the world trade center attacks as well as the subprime crisis.Despite not being a native speaker, I always try to deliver high quality research at no charge to followers and the entire Seeking Alpha community. And lastly, we'll open the call to take questions. Instead, interest payments will have to be made in the form of new, unsecured convertible debentures (the "Convertible Debentures"). In addition to the Leading Women Series, Becky Anderson also hosts the network's flagship news and current affairs program Connect the World, which takes viewers on a journey across continents, beyond headlines and into histories of the stories that are changing our world. Angeliki Frangou (left) is seen with her brother John Frangos in 2012. On Slide 16, you can see with our ESG initiatives. Please turn to Slide 27. 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. A London High Court trial is under way in a complex dispute between Greek shipowner Angeliki Frangou and her brother, John Frangos. Please turn to Slide 21. Focus are also for growth in iron ore imports around the world as the effects of the pandemic received. Moving from strength to strength in our drybulk segment, we continue to benefit from a strong spot market with 87% of our 2022 available days exposed to market rate and we remain positioned to fix vessels on attractive period charters are available. 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. We operate in three segments, have 15 diversified vessel types, and serve over 10 end market. In addition, Ms. Frangou has been the Chairwoman and Chief Executive Officer of Navios Partners (NYSE: NMM), an affiliated limited partnership, since August 2007. Our diversification strategy creates resilience in the overall business model and enable us to mitigate individual segment volatility. EN English Deutsch Franais Espaol Portugus Italiano Romn Nederlands Latina Dansk Svenska Norsk Magyar Bahasa Indonesia Trke Suomi Latvian Lithuanian esk Unknown However, [indiscernible] quarters along with global oil demand returning to 2019 levels have brought OECD inventories below their 5-year average. What we have done is that, we have created a fortress balance sheet by chartering the container sector, which is extremely strong. Had the merger been effective for 2020, the pro forma revenue would have been $354 million. This has led the IMF to increase its 2021 GDP growth projection to 5.5%, the highest in 50 years and 4.2% in '22. Got it. 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. The diversification allows us to balance a chartered strategy across different business segments, optimizing the profit potential with cash flow certainty. We also agreed to sell for vessels having an average age of 13 years for a total sales price of $42.8 million. Governments having put in place emergency monitor and fiscal plans to support the economies have kick-started faster than expected the recovery in the world economy. 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. In this limited sphere we are optimistic. And that's likely to grow here as we look ahead with the time charters you just announced on the containers. The event was held during . We have finalized an additional $58 million loan, which will be used to finance the acquisition of 2 vessels and refinance an existing facility. 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. It doesn't sound like it has, but curious if there's any sort of hold back because of that lack of visibility. This factor stimulus has led to historic turnaround in global container trade. We have very strong corporate governance and clear code of ethics. In the West, the worst impacts of Covid appear to be fading. As to our balance sheet update, we are in advanced discussions to finalize a $116 million loan to refinance in upcoming months and upcoming maturities in the third quarter of 2021. The IMF projects global GDP growth at 5.9% for 2021 and 4.9% for '22. In just the last month, sub trade time charter rates have hit 10-year highs in what is normally a seasonal low period. The current order book stands at a record low of 5.7% of the fleet. You can pay down debt aggressively, you can reward shareholders aggressively and you can actually acquire assets fairly aggressively. Now I will review the safe harbor statement. 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. I am mostly a trader engaging in both long and short bets intraday and occasionally over the short- to medium term. Sometimes it's in newbuildings, sometimes it's in secondhand vessels in different sectors. For more information and how to manage your privacy settings, please refer to our privacy and cookie policies. 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. Adjusted EBITDA for 2020 amounted to approximately $100 million compared to $120 million 2019. Turning to Slide 25, VLCC net fleet growth is projected at 3.6% for 2021 and only 1.6% for '22. 2021 dry bulk trade is projected to increase by 3.7%, and further increased by 2.2% in '22. This - the advantage we took on the container vessels gave us a historically low break-even of $2,469 per open day in 2022. As you can see from the top graph on the space, the IMF expects global GDP to grow by 5.5% in 2021. For the full year of 2020, Navios Partners reported revenue of $226.8 million and adjusted EBITDA of $99.8 million. 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). To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. I am not receiving compensation for it (other than from Seeking Alpha). So, basically what we want to see is number one, this market drybulk to materialize, which we are bullish about it. Lastly, we have a strong balance sheet with low leverage. 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. Moreover, the large asset base will provide the entity a significant parcel of collateral value. 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. 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. I mean, you have much larger asset base. She also serves as the Chairman and Chief Executive Officer of Navios Partners L.P. and Navios Maritime Acquisition Corporation. click here. 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. Post-merger NMM will have approximately 19.7 million units outstanding. About a third of our fleet operate in each of the drybulk, containerships and tanker segment. The large entity will benefit from a simplified capital and an organizational structure, thereby, reducing costs. 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. From November 1st DN Media Group is responsible for controlling your data on TradeWinds. The pandemic substitution of goods for services is returning to more normal levels; expenditures for travel and entertainment and services generally are skyrocketing. Overall, world grain sales increased by 7.7% in 2020 is expected to increase by about 2% in '21. We have - we see the potential, but we see - we need to see it materialize. We believe that this combination offers a stronger, more resilient entity mitigating sector specific cyclicality. The net result is that we should have more predictable entity level return. 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. Navios uses cookies on this website. Additionally, we are positioning our dry bulk fleet for what we hope will be a strong balance of 2021. The result was a combination of the expansion of our fleet and the improved time charter equivalent rate. The remaining 34% of available base that are open all on indexing chargers provided with more upside. Eri? 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. We show some vessels that were older and smaller to more commercially attractive vessels. 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. CNN International's Leading Women with Becky Anderson airs every Tuesday on News Stream at 9:00 pm HKT/ 1:00 pm GMT / 8:00 am ET and Connect the World with Becky Anderson at 5:00 am HKT / 9:00 pm GMT / 4:00 pm ET. Thank you. Turning to Slide 14, I will briefly discuss some key balance sheet data as of September 30, 2021. Excluding these items, total adjusted EBITDA for Q3 amounted to $145 million compared to $31 million for the same period last year. The information set forth herein should be understood in light of such risks. 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. Thank you, Doris, and good morning to all of you joining us on today's call. As a reminder, this conference call is being webcast. A couple of questions. Our fleet is in the top-10 publicly listed dry cargo fleet globally, as measured by a number of vessels. Please turn to Slide 17 for the review of the drybulk industry. Turning to Slide 12, you can see some fleet and debt updates. Editor's note: US District Judge Mary Ann Vial Lemmon dismissed the litigation against the owners of Mariner Shipyard in April 2010. As Angeliki mentioned earlier, today, the Navios Containers unitholders approved the measure of Navios Partners. We see that it is a different set of fundamentals important. She is currently single. Demand is forecast to outpace net sales growth in both 2021 and '22. First COVID stimulus measures have caused a sharp recovery of demand for goods in Western OECD economies as noted on the two lower charts. The Greek company's chief executive Angeliki Frangou said she was. And then going forward, which subsector would you maybe look to grow? At Navios, the pandemic galvanized us. Part 3 recaps Angeliki Frangou's career and the Navios Group. Then Mr. Achniotis will provide an operational update and an industry overview.