Tsakos Energy Navigation Limited

Thank you for standing by, ladies and gentlemen, and welcome to the Takos Energy Navigation Conference call on the first quarter 2020 financial results. We have with us Mr. Takis Adepaglou, 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 you that this conference is being recorded today Thursday 11th of June 2nd. Thursday 11th of June 2020 and now I'll pass the floor over to Mr. Nicholas Bernoses. Thank you President and President of Capital Link Investor Relations Advisors of Tsakos Energy Navigation. Please go ahead, sir.

Thank you very much and good morning to all of our participants. I am Nikolas Bournos of Capital Link Investor Relations Advisor to Tsakos Energy Navigation. This morning, the company publicly released its financial results for the first quarter of 2020. In case you do not have a copy of today's earnings release, please call us. at 212-661-7566 or email us at 10 at CapitalLink.com TEN at CapitalLink.com and we will have a copy for you emailed 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.capitallink.com The conference call will follow the presentation slides, so please we urge you to access the presentation slides on the company's website. Please note that the slides of the webcast presentation will be available and archived on the website of the company after the conference call. Also, please note that the slides of the webcast presentation are user-controlled. and this 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 provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned. that such forward-looking statements involve risks and uncertainties which may affect tense business processes. And at this moment, I would like to pass the floor to Mr. Taki Sarapoglou, the Chairman of Tsakos Energy Navigation. Mr. Sarapoglou, please go ahead, sir.

Thank you, Nikolas. Good morning and good afternoon to all. I hope that you and yours are all well and staying safe and healthy. citing Q1 results, once more delivering consistent justification of the 10 operating model. As we've said many times in the past, the model that provides stability of earnings at all times and flexible enough to capture all market opportunities as they arise. This, coupled with best-in-class cost containment and an impeccable health and safety record, All this, we believe, is gradually beginning to be reflected in our stock price, which is in any case expected to benefit from our announced reverse split, as it will make our shares, we hope, more attractive to a much broader professional investor audience. Once again, congratulations by all to Nikolas Tsakos and his team. We wish them continuation of the good markets and greater success for the rest of the year. Thank you and over to you, Nikolas.