Danaos Corporation

Three months ended December 31st, 2025. As a reminder, today's call is being recorded. Hosting the call today is Dr. John Kustas, Chief Executive Officer of Denao's Corporation, and Mr. Evangelos Hatzis, Chief Financial Officer of Denao's Corporation. Dr. Kustas and Mr. Hatzis will be making some introductory comments, and then we will open the call to a question and answer session.

Thank you, operator, and good morning to everyone, and thank you for joining us today. Before we begin, I quickly want to remind everyone that management's remarks this morning may contain certain forward-looking statements and that actual results could differ materially from those projected today. These forward-looking statements are made as of today, and we undertake no obligation to update them. Factors that might affect future results are discussed in our filings with the SEC and we encourage you to review these detailed safe harbor and risk factor disclosures. Please also note that where we feel appropriate, we will continue to refer to non-GAAP financial measures such as EBITDA, adjusted EBITDA, adjusted net income, time charter equivalent revenues, and time charter equivalent dollars per day to evaluate our business. Reconciliations of non-GAAP financial measures to GAAP financial measures are included in our earnings release and accompanying materials. With that, let me now turn the call over to Dr. John Koustas, who will provide the broad overview of the quarter. John?

Thank you, Evangelos. Good morning, and thank you all for joining today's call to discuss our results for the fourth quarter of 2025. In this quarter, it became evident that the business community continues to adapt quickly to geopolitical disruptions. Despite concerns that tariff and geopolitical uncertainty would cause a U.S. slowdown, it has not materialized. At the same time, the hype around AI-related investments has increased optimism, China's exports continue to set new records, and consequently container volumes have reached record highs. With the Suez Canal still largely avoided by major liners and trade patterns increasingly transforming to multipolar, demand for mid-sized vessels has remained very strong. Against this background, we continued our strategy of securing long-term employment for our existing vessels through forward fixtures by either extending existing charters or by new charters, even for late 27 deliveries. We also continue to invest in modern container vessels. We ordered six 1800TU vessels, four 5300TU vessels, and two 211K deadweight NewcastleMax dry-bought vessels for deliveries in 2028 and 2029. We have secured 10-year charters for four of these vessels, and the company's total contract revenue increased to 4.3 billion as of the end of the quarter, giving us great earnings visibility into the future from which we derive comfort on our ability to manage any eventual future market developments. On the financing front, we completed a seven-year, 500 million unsecured bond offering at 6.875% coupon rate, one of the most competitively priced deals ever achieved in the shipping industry for an unsecured bond of such tenor, further diversifying the capital structure and reaffirming our access to the deep and liquid international debt capital markets. Our liquidity at year-end reached 1.4 billion, backed by a strong financial profile we have begun exploring selective investments in the energy sector to broaden revenue sources and expand the LNG business. In this context, Danaos became a strategic investor in the Alaska LNG project, providing access to LNG transportation opportunities associated with a facility planned to produce 20 million tons per annum. The company remained focused on positioning itself at the forefront of shipping and energy growth areas for the benefit of our shareholders. With that, I'll hand the call over back to Evangelos, who will take you through the financials for the quarter.