Tsakos Energy Navigation Limited

Thank you for standing by, ladies and gentlemen, and welcome to Socos Energy Navigation Conference call on the third quarter 2023 financial results. We have with us Mr. Takis Arapoglou, Chairman of the Board, Dr. Nicholas Sokos, President and CEO, Mr. Paul Durham, Chief Financial Officer, and Mr. George Saraglou, 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 would like 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 call is being recorded today. I will now pass the floor to Mr. Nicholas Bornozis, 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 Chakos Energy Navigation. This morning, the company publicly released its financial results for the nine months and third quarter ended September 30, 2023. 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- 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.TEN.gr. The conference call will follow the presentation slide, 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 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 TEN's business prospects and results of operations. And at this moment, I would like to pass the floor to Mr. Arapoglou, the chairman of Sarkos Energy Navigation. Mr. Rapoglou, please go ahead, sir.

MR. Thank you, Nicholas. Good morning and good afternoon to all, and thank you for joining our third-quarter results call today. Congratulations once again to Nikos Sarkos and management for yet another set of excellent results. Ten is, once again, perfectly positioned to benefit from a buoyant market, a very strong market, despite a short slowdown earlier on. Typically, you have seen us gearing up, raising capital in weak markets in a counter-cyclical way to invest and position ourselves for better markets. And when better markets arrive, we generate healthy equity, we leverage sell all the tonnage, repay obligations, and invest for sustained growth in best-in-class state-of-the-art vessels. This model, successfully tested several times now, coupled with superior operating performance and efficiencies, which you are familiar with, allows us to be able to maintain our unbroken record of paying dividends to reward our investors and to grow in a balanced and sustainable way. So, once again, congratulations to Nikos Tsakos and his team. That's it for me for now, and I pass the floor to our CEO, Nikos Tsakos. Thank you.