Tsakos Energy Navigation Limited

Thank you for standing by, ladies and gentlemen, and welcome to TACOS Energy Navigation Conference Call on the first quarter 2021 financial results. We have with us Mr. Takis Arapoglu, Chairman of the Board, Mr. Nicholas TACOS, President and CEO, Mr. Paul Durham, Chief Financial Officer, and Mr. George Saroglu, 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. And now I pass the floor to Mr. Nicholas Bonosius, President of Capital Link, Investor Relations Advisor of SACOS Energy Navigation. Please go ahead, sir.

Thank you very much, and good morning to all of our participants. I am Nicolas Bornois of Capitalink, investor relations advisor to Xacos Energy Navigation. This morning, the company publicly released its financial results for the first quarter of 2021. In case you 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 be happy to send 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 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 calls. 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 concerned that such forward-looking statements involve risks and uncertainties which may affect business prospects and results of operations. And at this moment, I would like to pass the floor on to Mr. Arapoglou, the chairman of Xakos Energy Navigation. Mr. Arapoglou, please go ahead, sir.

MR. Thank you, Nicolas. Good morning, good afternoon. Thank you for joining our call today. Producing a positive operating income under the present market conditions is a great feat. These results are fully in line with our industrial model and strategy, which is to provide high-quality service to our blue-chip customers while ensuring high levels of cash generation to cover our obligations, even in today's weak market. Continuous fleet renewal, state-of-the-art vessels, operational excellence, and ample liquidity protect TEN and position it to benefit greatly from a market upturn. as we all expect. Despite the challenging market, we continue to pay common dividends in an uninterrupted way since inception. We continue to reduce debts and repay outstanding preferred issues. And, lastly, high governance standards. Both, I know, are areas of increased focus by you, the shareholders. And with this, I pass on the floor to Nikos Tsapos.