Tsakos Energy Navigation Limited

Thank you for standing by, ladies and gentlemen, and welcome to the Tsakos Energy Navigation Conference call on the second quarter 2020 financial results. We have with us Mr. Takis Aragopoulou, 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 on 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 and 1 on your telephone keypad and wait for your name to be announced. I must advise you that this conference is being recorded today, Wednesday the 23rd of September 2020. And now I pass the floor to Mr. Nikolas Bournosis, President of Capital Link Investor Relations Advisor 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 Capitalink, Investor Relations Advisor to Tsakos Energy Navigation. This morning, the company publicly released its financial results for the second quarter, a six-month period of 2020. In case you do not have a copy of today's earnings release, please call us at 212-661-7500. 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 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 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 Security 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. And at this moment, I would like to pass the floor on to Mr. Arapoglou, the chairman of Tsakos Energy Navigation, to kick off the conference call to what has been a record performance this period. Please go ahead, sir.

Thank you very much, Nikolas. Hello, good morning, and good afternoon to all. Thank you for joining our call today, and I hope you're all keeping safe and healthy. Our press release today with second quarter and first half results I think ticks all the boxes of an impressive performance. It includes high profitability, substantial historically debt reduction, continuous fleet renewal, highly accretive new business, repayments of preferred issues, An active buyback program, ample cash, and impressive cost containment. So congratulations once again to Nikolas Tsakos and his team, and we all look forward to answering your questions and to hearing your constructive comments as always. Thank you, and I now pass the floor to Nikolas Tsakos.