Scorpio Tankers Inc.

Hello, and welcome to the Scorpio Tankers Incorporated third quarter 2022 conference call. I would now like to turn the conference over to Mr. James Doyle, head of corporate development and IR. Please go ahead, sir.

Thank you for joining us today. Welcome to the Scorpio Tankers third quarter 2022 earnings conference call. On the call with me today are Emanuele Laro, chief executive officer, Robert Bugbee, president, Cameron Mackey, Chief Operating Officer, Brian Lee, Chief Financial Officer, Lars Denker-Nielsen, Commercial Director. Earlier today, we issued our third quarter earnings press release, which is available on our website, scorpiotankers.com. The information discussed on this call is based on information as of today, November 1st, 2022, and may contain forward-looking statements that involve risk and uncertainty. Actual results may differ materially from those set forth in such statements. For discussion of these risks and uncertainties, you should review the forward-looking statement disclosure in the earnings press release, as well as Scorpio Tankers SEC filings, which are available at scorpiotankers.com and sec.gov. Call participants are advised that the audio of this conference call is being broadcasted live on the internet and is also being recorded for playback purposes. An archive of the webcast will be made available on the investor relations page of our website for approximately 14 days. We will be giving a short presentation today. The presentation is available at scorpiotankers.com on the investor relations page under reports and presentations. The slides will also be available on the webcast. After the presentation, we will go to Q&A. For those asking questions, please limit the number of questions to two. If you have an additional question, please rejoin the queue. Now, I'd like to introduce our Chief Executive Officer, Emanuele Oro.

Thank you, James, and good morning or afternoon, everyone. Thank you for taking the time to be with us today. This has been a great quarter for Scorpio Tankers. the company has generated its largest quarterly profit in the company's history. Significant cash flows from a strong rate environment are transforming the balance sheets and improving the quality of Scorpio Tankers as an investment. Our capital allocation prioritizes the balance sheets. As we've said before, year to date, we have repaid over $720 million in debt Since June, we have given notice to exercise the purchase options on 23 leased vessels. We will reduce our debt by almost a billion dollars this year. And in addition, we have returned capital to shareholders primarily through our buyback program. In fact, since July, we have repurchased $120 million of our common shares. at an average price of $38.56. The company will continue to reduce its leverage, maintain a strong liquidity position, and opportunistically repurchase shares. Fourth quarter earnings have started strongly. We have booked $45,500 per day for 52% of the available days on the quarter. We continue to see global refined product inventories remain near historic lows and supply remains very much constrained. So the thesis of a changing refinery landscape, increasing exports and ton mile demand is actually playing out. Our customers expect these current market conditions to be sustained. This is evidenced by the increase in time charter rates and activity. Not only the rates at which customers are willing to commit are higher, but importantly also the period to which they are willing to commit is longer. We continue to agree with our customer views, and as significant shareholders, we're excited about the constructive outlook for product anchors and remain committed to creating long-term shareholder value. I'd like to thank you for your continued support, and I will now pass it over to James, who's going to go through a brief presentation. James.