Tsakos Energy Navigation Limited

Thank you for standing by, ladies and gentlemen, and welcome to the Sakos Energy Navigation Conference call on the fourth quarter and near end financial results. We have with us Mr. Takos Arapoglou, Chairman of the Board, Mr. Nikolas Tsakos, President and CEO, Mr. Paul Durham, Chief Financial Officer, and Mr. George Saroglou, Chief Operating Officer of the company. At this time, all participants are in a listen-only mode. There will be a presentation followed by a question and answer session, At which time, if you wish to ask a question, please press star 1 on your telephone keypad and wait for your name to be announced. I must advise the conference is being recorded today, and I now pass the floor to Mr. Nikolas Bournozes, President of Capitalink, Investor Relations Advisor of Tsakos Energy Navigation. Please go ahead, sir.

Thank you very much, and good morning to all of our participants. This is Nikolas Bournozes of Capitalink, Investor Relations Advisor to Tsakos Energy Navigation. This morning, the company publicly released its financial results for the fourth quarter and full year 2018. In case we do not have a copy of today's earnings release, please call us at 212-661-7566 or email us at 10TEN at CapitalLink.com and we will email a copy to you right away. Please note that parallel to today's conference call, there is also a live audio and slide webcast, which can be accessed on the company's website on the front page at www.tenn.gr. The conference call will follow the presentation slides, so please we urge you to access the presentation of the webcast. Please note that the slides of the webcast will be available as an archive on the company's website after the conference call. Also, please note that the slides of the webcast presentation are user-controlled, and that means that by clicking on the proper button, you can move to the next or to the previous slide on your own. At this time, I would like to read the safe harbor statement. This conference call and slide presentation of the webcast contain certain forward-looking statements, within the meaning of the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties which may affect TENS business prospects and results of operations. Such risks are more fully disclosed in TENS filings of the Securities and Exchange Commission. And before turning the floor over to the company, I would like to mention two things. First of all, on Monday, April 1st, 2019, next week, the company's management will be participating at the Capitalink International Shipping Conference in New York. Then, on Wednesday, April 3rd, 2019, the company is hosting an Investor and Analyst Day of its own in New York. Those of you interested to join the Investor and Analyst Day, please contact us at Capitalink, and we will be happy to have you. You can call us at 212- and now I will turn over the call to Mr. Takis Arapoglou, the chairman of the board of Takos Energy Navigation. Mr. Arapoglou, please go ahead, sir. Thank you, Nikolas.

Good morning, everyone. Thank you for joining us today. Coming out of the longest bad market ever with positive operating performance, being able to pay obligations and steady dividends is quite an achievement, confirming our operating model and our supreme industrial platform. It's important to note that we have managed to repay debt equivalent to $2 per share and to maintain a cash position of $2.5 and others. Now with a stronger market in the fourth quarter, continuing at an admittedly lower pace in 2019, we're benefiting from our profit sharing arrangements and look forward to a stronger year, positioning for growth and for renewing our fleet and further growing our platform. Once again, I'd like to congratulate on behalf of the board, Nikolas Tsakos and his colleagues, his team, and wish them an equally successful 2019. That's it from me for now. Over to you, Nikolas Tsakos. Thank you.