Good morning, everyone. And thank you all for joining us at our Q4 and 12 months 2024 Conference Call. I’m Harry Vafias, the CEO of Imperial Petroleum; and joining us today is 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 is made clear that this presentation may contain some forward-looking statements as defined by the Private Securities and Litigation Reform Act. We raise the attention of our investors to the fact that such forward-looking statements are based upon 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, before we commence our discussion, we would like to clarify that during this call, we will quote monetary amounts, unless explicitly stated otherwise, all in U.S. dollars. In Slide 3, we summarize our key highlights for Q4 2024 and 12 months 2024. As a general remark, market conditions during the last quarter of 2024 were somewhat atypical as the expected seasonal strengthening failed to materialize. Geopolitical tensions, mild winter along with rapid delays in unwinding, the production cuts brought upon a softness in the tanker market. In spite of a lack of strong market momentum in the fourth quarter 2024, we managed to attain a strong operational utilization of 86% attributed to an increase in time charter coverage with negligible quarterly technical off-hire. Indeed, in Q4, compared to the fourth quarter of 2023, our time charter coverage increased by 180% as two of our product tankers were under time charter employment for the whole period. Looking at the 12-month results, our operational utilization came in at 78.3%, about 69% of our fleet calendar days were dedicated…

Thank you and good morning to everyone. Let us discuss our financial performance for Q4 2024 and 12 months 2024. As mentioned earlier in our call, the second half of 2024 was softer than anticipated. The seasonal effect of the period did not compensate for the broader decline in market conditions as compared to what prevailed in the beginning of 2024. Looking at our income statement for Q4 2024 on Slide 8, revenues came in at $26.2 million in Q4 2024, marking a $3.5 million decline compared to revenues generated in the same period of 2023. This decline stems from lower market rates. Indicatively, we mentioned that as of the end of Q4 2023, daily rates for standard product tankers was close to 33%, while for standard Suezmax tankers close to $60,000. As of end of Q4 2024, though, this daily rate had fallen to $22,000 for standard product tankers and about to $30,000 for standard Suezmax tankers. The effect of lower rates was offset by a quarter operational utilization of 86% and the rise in our time charter coverage. Voyage costs amounted to $8.5 million, down by 39% compared to Q4 2023. In the last quarter of 2024, we had no transit from the U.S. Suez Canal and overall lower spot activity, consequently our bunker costs declined by 16%, while our port expenses by almost 45%. Running costs amount to $6.7 million, increased by $1 million due to the increase of our fleet by an average of two vessels. Overall, we do maintain across the quarters our OpEx fairly steady, maintaining a daily average per fleet calendar day of about $7,000. EBITDA for the fourth quarter of 2024 came in at $6.4 million, while net income at $3.9 million. We need to stress that the biggest hurdle in this…

For yet another year, Imperial Petroleum demonstrated exceptional results. We continue to be consistent with profitability, cash flow generation and fleet growth across the quarters. Market conditions in 2024 were somewhere softer than 2023 when tanker age oscillated around all-time high levels. Nevertheless, our debt free fleet of 11 ships managed to generate $50 million of profit and maintain an enviable cash base of $207 million. In the period ahead, our key focus is to materialize our already announced fleet growth plans, sustain our profitable momentum and as always, seek opportunities to enhance the company. We would like to thank you all for joining us, and for your interest and trust in our company, and we look forward to having you once again at our next call for Q1 2025 results. Thank you very much.