Tsakos Energy Navigation Limited

Thank you for signing by, ladies and gentlemen, and welcome to the SACOS Energy Navigation Conference call on the third quarter 2024 financial results. We have with us Mr. Sakis Arapoglou, Chairman of the Board, Mr. Nicholas SACOS, Founder and CEO, Mr. Paul Durham, Chief Financial Officer, Mr. George Saroglu, President and Chief Operating Officer, and Mr. Harris Cosmatos, Co-CFO 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 file 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 Bornosis, President of Capitalink and Investor Relations Advisor for SACOS Energy Navigation Limited. Please go ahead, sir.

Thank you very much and good morning to all of our participants. I am Nicolas Gournoy, President of Capital Link and Investor Reliance Advisor to Tsakos Energy Navigation. This morning, the company publicly released its financial results for the nine months and the third quarter ended September 30, 2024. 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 capitalink.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.tenn.gr. The conference call will follow the presentation slides So please, we urge you to access the presentation slides on the conference 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 also the presentation of the webcast contain certain forward-looking statements within the meaning of the safe harbor provision of the Public 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 before passing the floor over to Mr. Arapoglu, the chairman of the Czechoslovakian Navigation, I'd like to congratulate the company. for being awarded Anchor Operator of the Year after the inauguration of the first private naval academy in Greece that shows the efficiency of the company's operation and also its focus on the welfare of the crews. And with this, I would like to pass the floor to Mr. Arapoglou, the chairman of Tsakos Energy Navigation. Please go ahead, sir.

Thank you, Nicholas. Good morning and good afternoon to all. Thank you for joining our call today. In a market admittedly off its earlier peak, yet still with firm business and geopolitical fundamentals, TEN continues to be sustainably profitable, steadily generating equity, maintaining its healthy cash position. increasing its dividends by 50 percent, offering a substantial dividend yield on today's price, and continuously renewing and increasing its fleet with state-of-the-art vessels. The company's industrial model, characterized by nearly $2 billion of forward contracted accretive revenue and proven operational excellence, ensures the continuation of its stable, sustainably profitable performance and the rewarding of its shareholders, handling market cyclicality in an efficient way. So congratulations are again, once again, in order to Nikos Tsakos and his management team on this performance, and best wishes for more successes going forward. And with this, thank you, and over to Mr. Nikos Tsakos.