Good day, and welcome to the Pyxis Tankers' Conference Call to Discuss the Financial Results for the Third Quarter 2019. As a reminder, today's call is being recorded. Additionally, a live webcast of today's conference call and the earnings presentation is available on the Pyxis Tankers' Web site, which is www.pyxistankers.com. Hosting the call today is Eddie Valentis, Chairman and Chief Executive Officer of Pyxis Tankers; and Henry Williams, Chief Financial Officer. I’d now like to introduce Pyxis Tankers’ Chief Executive Officer, Eddie Valentis. Please go ahead.

Thank you, operator. Welcome, everyone, and thank you for joining our call for the three months results ended September 30, 2019. Before starting, please let me draw your attention to some important legal notifications on Slide 2, that we recommend you read, including our presentation today, which will include forward-looking statements. Thank you. Turning to Slide 3. Our results for the third quarter 2019 reflected a significant improvement from an operating perspective over the comparable period of 2018 and over our Q2 results. In Q3 '19, we generated time charter equivalent revenues of 6.2 million, 140% higher than the same period in 2018. We had a net loss of $800,000 or $0.04 per share for the third quarter of 2019 versus a net loss of 4.1 million or $0.20 per share in the same period in the prior year. Our adjusted EBITDA for Q3 2019 increased by 3.6 million to 2.1 million. During the third quarter the spot market was lackluster. Our more conservative approach to vessel employment by staggered short term time charters of our medium range product tankers proved beneficial. In Q3 2019, the average daily time charter equivalent for our MR was over 14,400 per day, 6.5% higher than Q2 with daily utilization of almost 100%. Starting the fourth quarter, we have seen the chartering market improve nicely beyond the typical historical seasonal upswing. The positive impact globally, of new IMO Regulations regarding the use of low sulphur fuel has started to boost the solid fundamentals of supply and demand growth within our sector. However, we continue to be concerned about the uncertainty surrounding trade barriers and the recent geopolitical events, which could hamper worldwide economic growth and the demand for oil and petroleum products. Our fleet and existing chartering activity is shown on Slide 4. We…

Thanks Eddie. Let's start with the unaudited results for the three months ended September 30, 2019 on Slide 10. Our time charter equivalent revenues for Q3 '19, which we define as revenues net minus voyage related costs and commissions were $6.2 million, an increase of $3.6 million or 140% from the same period in 2018 primarily as a result of higher MR rates and higher utilization. Our most recent periods reflect higher yielding time charter activity. For the three months ended September 30, 2019 our daily TCE rate fleet wide was $12,360 more than double than 2018. Better results for 2019 are showed in Slide 11. We incurred a net loss of $800,000 for the three months ended Q3, 2019 or $0.04 basic and diluted loss per share based upon 21.1 million weighted average shares outstanding, compared to a net loss of $4.1 million or $0.20 basic and diluted loss per share, based on a slightly lower share count. The improvement in TCE revenues of $3.6 million was partially offset by a $300,000 increase in interest expense, which was due to higher weighted average cost of debt. Nevertheless, better TCE revenues substantially flow to the bottom line and resulted in a $3.6 million improvement in adjusted EBITDA over the same period in 2018. Please turn to Slide 12 which reviews our recent fleet data by vessel type. Given the size of our fleet, changes in these metrics related to a single vessel one reporting period can have disproportionate effects on the total fleet operating results. Focusing on the quarter ended September 30, 2019. We would like to point out three key takeaways. Our TCE for our 4 MRs averaged $14,400 per day with our coefficient MRs generating almost $15,200 per day per ship. Despite nearly 100% utilization of our MRs,…

Thank you, Henry. Q4 2019 has started off in a very positive fashion. We believe this is the beginning of a sustained improvement in the product tanker market, leading to further increases in charter rates, cash flows and asset values. Our current mix of staggered time charters and spot exposure should position us to take advantage of expected increase in rates over the near term. Utilizing our cost-effective operating platform and deep management experience should enhance our shareholder value. In conclusion, we feel confident in the long-term sector fundamentals, excited about our potential opportunities created by MR 2020 and our position to capitalize on future events. I thank you for joining our call today. And look forward to reporting on further progress of Pyxis Tankers.

Thank you. Thank you for participating. You may all disconnect. End of Q&A: