Good day, and thank you for standing by. Welcome to the Q3 2025 Imperial Petroleum Results Conference Call and Webcast. [Operator Instructions] Please note that today's conference is being recorded. I would now like to turn the conference over to your speaker, Mr. Harry Vafias, CEO of Imperial Petroleum. Please go ahead, sir.

Good morning, everyone, and thank you for joining us for our third quarter 9 months 2025 Conference Call. I'm Harry Vafias, the CEO of Imperial Petroleum. And joining us today is Ms. 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 made 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 could cause future results to differ materially from these forward-looking statements. In addition, we'd like to clarify that during this conference call, we will quote monetary amounts unless explicitly stated otherwise, are all denominated in U.S. dollars. On Slide 3, we're summarizing our key operational and financial highlights for Q3 '25. Our operating performance in the third quarter was most satisfactory. This was the first quarter that our recently acquired 7 drybulk ships were fully integrated. Due to this integration, our fleet calendar days increased by 36.1% quarter-on-quarter. Our fleet operational utilization for Q3 '25 was quite high, about 89%, much improved compared to the same quarter of last year when operational utilization was only 66%. Our drybulk ships are most of the time on short period time charters with low commercial off-hire, and this leverages the operating performance of our fleet as a whole. In terms of our fleet deployment mix in Q3 '25, our majority of our vessels, all of our drybulk ships and almost half of our product tankers were under time charter employment. So 75% of our voyage days were time charter days, while the remaining 25%…

Thank you, Harry, and good morning to all. The third quarter of '25 was once more profitable. It was the first quarter that we fully utilized our enhanced drybulk fleet segment, and this paid off as we materially increased our operating income. It's worth mentioning that the daily net revenue from the drybulk vessels increased by about 23% in Q3 '25 compared to the same quarter of '24. Our tanker segment, particularly suezmax tankers performed strongly as well, except for one of our product tankers involved in CPP trading as this was a market that remained relatively weak in the third quarter of '25. Looking at our income statement for Q3 '25 on Slide 8 revenues came in at $41.4 million in Q3 '25, marking a 25.5% million increase compared to revenues generated in the same period of '24. This increase is mainly due to our recent drybulk vessel addition along with an improvement of market rates, particularly for the suezmax tankers, as rates for these vessels increased within Q3 '25 to $55,000 per day and are now even higher, close to $70,000 per day. Voyage costs amounted to $11.6 million, marking $1.4 million lower than in Q3 '24. The decrease in voyage expenses attributed to the change in our fleet employment, which now shifts towards period coverage. In Q2 2025, our time charter coverage was about 75% versus 27% in Q3 '24. Our net revenues for the quarter came in at about $30 million compared to $20 million in Q3 '24. This is equivalent to a 50% increase. Running costs amounted to $10.9 million, increased by $3.7 million due to the increase of our fleet by an average of 8.6 vessels between the 2 periods. The current average daily OpEx for our tanker fleet is around $7,200 and $5,600…

The full integration of our recently delivered 7 drybulk ships, increasing our fleet to 19 ships and soon to 22 ships enhanced within Q3 '25, our income and profitability stemming from core operations. Market rates for both tanker and drybulk markets are solid, and this seems likely to hold in the upcoming quarters. With our debt-free balance sheet and our cash base that is currently $172 million, and our focus on quality build Japanese and Korean build ships, we aim for an even better performance in the fourth quarter of 2025. We'd like to thank you all for joining us at our call today and for your interest and trust in our company, and we look forward to having you again with us at our next call for our Q4 '25 results. Thank you.