Danaos Corporation

Good day and welcome to Denoz Corporation conference call to discuss the financial result for the three-month ended March 31st, 2026. As a reminder, today's call is being recorded. Hosting the call today is Dr. John Custos, Chief Executive Officer of Denoz Corporation, and Mr. Ivan Goulos, Hedges, Chief Financial Officer of Denoz Corporation. Dr. Custos and Mr. Hedges will be making some introductory remarks comments and we will be open the call for question and answer session.

Thank you, operator. Good morning, everyone, and thank you for joining us today. Before we begin, I quickly want to remind everyone that management 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 over the call 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 first quarter of 2026. This quarter was shaped by the unprecedented events in the Gulf and the closure of the Strait of Hormuz, a situation that is still unfolding but which we hope will be resolved in the coming weeks. The disruption has primarily benefited the tanker sector, where rates spiked sharply before quickly normalizing. In the container sector, the disruption helped stabilize and lift certain box rates. However, it did not have a significant effect. Two of our vessels currently remain in the Gulf, but this does not affect our earnings as both vessels continue to be on charter. The dry bulk market has improved considerably and continues to strengthen. Our optimistic outlook for this market prompted us to expand our order book four Newcastle Maxes for 2028 delivery. We also ordered two 5,000 EU container ships for 2027 delivery, both of which are backed by three-year charters. Together with charter arrangements for our existing fleet, these additions position us with a pro forma fleet of 104 container ships and 15 Cape-sized Newcastle Max vessels with a 4.1 billion contracted revenue backlog. Combined with 1.3 billion of liquidity, this positions us to continue pursuing accretive opportunities as they arise. Resolution of the conflicts in the Gulf and Ukraine should bring meaningful stability for years to come, absent new initiatives by the major global powers. Last year's developments demonstrated that globalization remains resilient and that protectionism is likely to be the exception rather than the rule going forward. Trade is becoming increasingly multilateral, which benefits the mid-sized container ship segment in which we are actively investing. Together with a disciplined expansion strategy, we believe these dynamics will continue to drive improved profitability and create value for our shareholders. With that, I hand over the call back to Evangelos, who will take you through the financials for the quarter.