Good morning, everybody and thank you all for joining us at our Q1 '25 conference call for Imperial Petroleum. I'm Harry Vafias, the CEO of the company. Joining me on the call is Ms. Fenia Sakellari, who will be discussing our financial performance. Before we commence our discussion, please read the Safe Harbor disclaimer on Slide 2. In essence, it's clear that this presentation may contain some forward-looking statements as defined by the Private Securities Litigation Reform Act. We raise the attention of our investors to the fact that such forward-looking statements are based upon the current beliefs and expectations of Imperial Petroleum and are subject to risks and uncertainties which would cause future results to differ materially from these forward-looking statements. In addition, we would like to clarify that during this call we will quote monetary amounts. These, unless explicitly stated otherwise, are all denominated in U.S. dollars. On Slide 3, we're summarizing our key operational and financial highlights for Q1 '25. The first quarter of this year was quite eventful with policies such as U.S. tariffs, sanctions on tankers involved in Russian oil, and USD port fees on Chinese-built vessels. These turbulent events, along with ongoing geopolitical factors such as the Russian-Ukraine war, brought volatility to the rates, particularly for tankers. The quarter commenced with a broader softness in day rates, with the market picking up by March. Imperial Petroleum's performance followed the market conditions. We had quite a soft performance during the first couple of months of the year, but we took advantage of the market upside during March, hence managed to produce yet one more profitable quarter. It's worth to note that our quarterly profitability is ongoing since the fourth quarter of 2021. In spite of market rates being evidently softer than the same period of…

Thank you, Harry, and good morning to all. Year 2025 commenced positively for Imperial Petroleum. Q1 '25 was yet another profitable quarter, significantly improved compared to the fourth quarter of '24, as our revenue generation increased by 22%, while our earning - income by 190%. Within Q1 '25, we witnessed improved performance from most of our product tankers, plus we did add the product tanker Clean Imperial in January 2025. As discussed, market in the first quarter of '25 was eventful in terms of geopolitics, sanctions and trade disruptions. The quarter commenced at a low pace, but gradually gained a meaningful momentum. Looking at our income statement for Q1 '25 on slide 8, revenues came in at $32.1 million in Q1 '25, marking a 22% decline compared to revenues generated the same period of 2024. This decline stems from lower market rates. Indicatively, we mentioned that during Q1 '24, average spot rates for product and suezmax tankers were 25% and 24% higher than average rates in Q1 '25. Moreover, during Q1 '25, revenue generation was not evenly apportioned across the period, as about 55% of revenues were generated within March when market gained momentum. Voyage costs amounted to $10.5 million, $3.1 million lower when compared to Q1 '24. This decrease in voyage expenses is attributed to increased time charter activity, leading to a decline in spot days by 16%, and thus decreased bunker consumption and lower port expenses. Running costs amounted to $7 million, increased by $1.1 million due to the increase of our fleet by an average of 2 vessels between the two periods. EBITDA for the first quarter of '25 came in at $14.7 million, while net income at $11.3 million, corresponding to a basic earnings per share of $0.32. Moving on to slide 9, let us take…

Another year has commenced with a positive momentum for Imperial Petroleum. We are happy, as we consider the $11.3 million of net income generated in Q1, a very good result given the eventful but softish market. This is a busy period for our company, but at the same time exciting as we are taking on delivery of another six drybulk ships. Within the short life of Imperial Petroleum, we are expanding our fleet from four vessels to 19 by the second quarter of 2025, and our goal of growing fast and transforming a small company to a medium-sized company was achieved. We feel confident that the diversified, quality, non-Chinese fleet we have created will pay off. Imperial Petroleum enjoys fast growth, recurring profits, zero bank debt and liquidity as of March 31 of in excess of $220 million, and as per our view, ticks all the boxes that define a successful operation. Thank you for joining us at our call today and for your interest and trust in our company, and we look forward to having you with us again at our next call for our Q2 results. Thank you.