Just curious there. Banks take back Hermitage PSV fleet at 62% of outstanding debt, Bottiglieri family removed from historic Italian shipping company. We expect to be able to provide more predictable returns to our unitholders despite uneven sector performance. Our cash balance was at $141.2 million as of September 30, and we have 28.3% in net LTV. I'm also proud to be working with the social countries group whose core values include diversity in [indiscernible] and safety. We see that it is a different set of fundamentals important. Moving to the first nine month 2021 period, time charter revenue reached $445 million compared to $158 million in 2020. In this limited sphere we are optimistic. 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. 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. Net loan-to-value is about 28.3% in an asset base estimated at over $4.5 billion. So basically we can fix and you have seen in the container segment we fix multi-year contracts. Worldwide grain trade has been growing by over 5% CAGR since 2008 mainly driven by Asian demand, which increased by 15% in 2020 and is expected to increase a further 2.9% in '21. 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. About one-third of our fleet will be in each of the dry . We have 27,437 open in index days that can generate significant operating cash. Excellent. Angeliki? Navios Maritime Partners L.P. (NYSE:NMM) Q3 2021 Earnings Conference Call November 10, 2021 8:30 AM ET, George Achniotis - EVP, Business Development. 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. As I mentioned previously, Navios Partners is one of the largest U.S. publicly listed companies with over 140 vessels. 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. 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. Angeliki Frangou (born 1965) ( Greek: ) is a Greek shipowner. I would now like to turn the call over to Angeliki for her final comments. 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. If you look at the graph on the right, net fleet growth is focused to be 2.6% this year and only 0.7% for '22. As shown on Slide 5, 2021 has been a transformational year as we expanded in new segments. Currently in our Containership segment, given the continued strength over the market we have been locking in long-term charters. 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. The lender has the option to convert any portion of the outstanding balance under the Convertible Debentures into shares of common stock of Navios Holdings at a conversion price of $3.93 at any time.
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