And this is the strategy going forward. Angeliki Frangou has been our Chairwoman and CEO since August 25, 2005. Our diversification strategy creates resilience in the overall business model and enable us to mitigate individual segment volatility. Eri? The group controls approximately 100 drybulk and tanker vessels transporting products ranging from grains, soy, and iron ore to chemicals and petroleum. The Leading Women with Becky Anderson Series can be viewed online at: http://edition.cnn.com/SPECIALS/leading-women. But also to, you know, a recovery on the tanker segment. And the tanker sector is just coming off - just coming up from a very low point, which was the lowest point in Q3. And NMM already has more than that contracted for 2021. CHARTERING OFFICER/MANAGER GAS CARRIERS/TANKERS, Panamax Chartering Manager, Chartering Broker. Time charter revenue for the year increased to $226.8 million compared to $219.4 million in 2019. In this limited sphere we are optimistic. The large entity will benefit from a simplified capital and an organizational structure, thereby, reducing costs. Early life and education [ edit] 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. For example, global GDP in 2019 equals $88 trillion, almost 30x the global GDP of $2 trillion in 1970. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Now I will review the safe harbor statement. 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. Angeliki Frangou | Management | Navios Maritime Holdings 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. Not only does diversification provide strength but it also brings opportunity. FRANGOU ANGELIKI SC 13D Filing Concerning NNA on 2021-10-15 And it was somewhat opportunistic at the time, they were on a speculative basis I guess or at least orders without charters. We have historically low break-even gives us on a 47,000 days. For 2022 we have fixed approximately 42% of our open days at $29,350 per day and our contracted revenue provides for a break-even of $2,469 per open day. Navios Maritime: Bail-Out To Result In Frangou Regaining Control These together with near record low orderbook could boost crude and product tanker rates in the near term. Now 30,000 is a very good level. But we have the luxuries. The holder of the Convertible Debentures will be entitled to vote on an "as converted" basis along with the company's common shareholders. This concludes my presentation. And lastly, we'll open the call to take questions. Turning to Slide 14, I will briefly discuss some key balance sheet data as of September 30, 2021. On October 15, 2021 we completed a transformative merger with Navios Acquisition. As of September 30, we had a total cash of $141.2 million and borrowings of $1.4 billion. For the fourth quarter, we generated $35.5 million in adjusted EBITDA.

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