2020 Bulkers Ltd

Good day and thank you for standing by. Welcome to the 2020 Bulkers Limited earnings call for Q3 2021. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during this session, you will need to press star 1 on your telephone. Please be advised that today's conference is being recorded. If you require any further assistance, please press style zero. I would now like to hand the conference over to your speaker today, Magnus Hovels. Please go ahead.

Thank you, operator.

Welcome, everyone, to the third quarter 2021 earnings conference call for 2020 bulkers. As usual, I'm also joined here today by our CFO, Vidar Hasun. Before we start the presentation, we'd like to remind you that we will be discussing matters that are forward-looking in nature. These forward-looking assumptions are based on the company's current views with regards to future events and are subject to risk and assumptions that are subject to uncertainty. Actual results may differ materially. And with that, I'll leave it over to the highlights for the quarter. 2020 Bulkers generated a record net profit of 21.6 million in the third quarter. We maintain a track record of having been profitable every quarter since the delivery of our first vessel in Q3 2019. We continue to outperform the Cape Size Index during Q1 and achieved average time-tracked equivalent earnings of $46,000 per day. This compares to the Baltic Cape Size Index, which was approximately 42,000 per day during the quarter. For the months of July through September, we announced monthly dividends of a total of 97 cents per share. This is equal to an annualized yield of around 27% based on yesterday's closing price. During the quarter, we increased our fixed time charter coverage for Q4, with 490 days fixed at 45,680 per day on average. In addition, we get the scrubber benefit from these vessels. From November 1st until the end of the year, we will have six of eight ships fixed at an average of 47,400 gross, plus scrubber benefits. Then over to some of the key events so far in the fourth quarter. So far, we've earned around 65,100 per day on average across the fleet. Earlier in the month, we also announced a dividend of 39 cents per share, which equals the run rate dividend yield of more than 30% based on today's share price. Further, on October 9th, we also got the bulk Shenzhen back on charter. This is following the repairs after the collision on the Yangtze River, which we informed you about in August. And with that, I'll leave it over to Vidar.