For the fourth quarter, we generated $35.5 million in adjusted EBITDA. About Navios Maritime Holdings Inc. Navios Maritime Holdings Inc. (NYSE: NM) is a global, vertically integrated seaborne shipping and logistics company focused on the transport and transshipment of drybulk commodities including iron ore, coal and grain. convertible debentures (the "Convertible Debentures"). 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. own rates rose dramatically from midyear 2020, led by the China to the U.S. West Coast and China to Europe freight rates as depicted on the chart on the lower rides. A couple of questions. The pandemic changed everything. Thank you, George. Partners financial results. Definitely sounds like you have the flexibility across the board with that. For the fourth quarter, Navios Partners reported revenue of $69.2 million and adjusted EBITDA of $35.5 million. Cash and cash equivalents were $141 million. TradeWinds is part of DN Media Group AS. NMM has an enhanced base to generate free cash flow. Demand and restocking is expected to prove demand growth well above net fleet growth, supporting the recent dramatic rising rates. Angeliki Frangou biography. So what you should expect from us is a replacement of assets, the new and of fleet, which is part of our ongoing process and strong cash generation with a deleveraging effect. Frangou, originating from the island of Chios, Greece, is considered one of the world's shipping magnate.The powerful Greek shipowner obtained a bachelor's degree in Mechanical Engineering from Fairleigh Dickinson University and a . Next, Ms. Tsironi will give an overview of Navios Partners financial results. Adjusted EBITDA for the fourth quarter of 2020 increased to $35.5 million compared to $33.7 million for Q4 of 2019, mainly due to the increase in earnings discussed above. Furthermore, protocols for contactless operations and repatriations have been created and IT systems were overhauled to facilitate all these. 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. Thank you, Stratos. We have 89.4% of our available container base fixed to capitalize on market strength with 53.5% of our available dry bulk vessel base exposed to market rate for 2021.
