Tsakos Energy Navigation Limited

Thank you for standing by, ladies and gentlemen, and welcome to Tacos Energy Navigation Conference call on the second quarter 2024 financial results. We have with us Mr. Takis Arapoglou, Chairman of the Board, Mr. Nicolas Tacos, Founder and CEO, Mr. George Saragolou, President and Chief Operating Officer of the company, Mr. Paul Durham, Chief Financial Officer, and Mr. Harris Cosmatos, Co-Chief Financial 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 that this conference is being recorded today, and now I pass the floor to Mr. Nicholas Fornosas, President of CapitalLink and Investor Relations Advisor to Sacros Energy Navigation Limited. Please go ahead, sir.

Thank you very much and good day to all of our participants. I am Nicholas Bournosis, President of Capitalink and Investor Relations Advisor to Tsakos Energy Navigation to TEN Limited. This morning, the company publicly released its financial results for the second quarter and six months ended June 30, 2024. In case we do not have a copy of today's earnings release, please call us at the plus one 212-661-7566 or email us at 10 at capitolink.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.capitolink.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 that means that by clicking on the proper button, you can move to the next slide. 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. And at this moment, I would like to pass the floor to Mr. Taki Sarapoglou, the chairman of Tsakos Energy Navigation. Please go ahead, sir.

Thank you, Nicolas. Good morning, everyone, and thank you for joining us today at our call for our Q2 first half 2024 results. The financial results activity and strategic initiatives presented today represent a master class in running a best-in-class shipping company. This contains, among others, continued solid profitability and operational excellence, both systemic and opportunistic fleet renewal with state-of-the-art vessels, timely and bold dry docking program, a balanced spot stroke time chart strategy allowing TEN to capture the increased demand for longer-term fixings resulting in continuous increase in the minimum contracted future income. And lastly, the profitable unwinding of leasing contracts and the continued excellent relationships with our banking partners. All of the above allows TEN to continue servicing the needs of its blue-chip clients in the best possible way, while maintaining a healthy cash position to fund accretive future growth. Equally, it allows TEN to be able to continue its uninterrupted dividend payments since inception, increasing its dividend payments this year by 50% compared to 2023. On behalf of the Board of Directors of TEN, congratulations once again to Nikos Tsakos and his team, and we all look forward to their continued success in what looks to be a continued solid tanking market. Thank you. Thank you, Chairman.