Good day and welcome to the Pyxis Tankers’ Conference Call to discuss the Financial Results for the Second Quarter 2021. As a reminder, today's call is being recorded. Additionally, a live webcast of today's conference call and an accompanying presentation is available on Pyxis Tankers’ website, which is www.pyxistankers.com. Hosting the call is Mr. Eddie Valentis, Chairman and Chief Executive Officer of Pyxis Tankers; and Mr. Henry Williams, Chief Financial Officer of the company. I would like to pass the floor to one of your speakers today, Mr. Eddie Valentis. Please go ahead, sir.

Good morning everyone and thank you for joining our call for the three months results ended June 30th, 2021. First, I hope you, your family, friends, and colleagues are well on the way to recovery from this pandemic. While we continue to be encouraged by the expanding distribution of vaccines worldwide and its positive impact to personal and commercial activities, we are concerned about the new COVID variants. So, stay safe and strong. Before starting, please let me draw your attention to some important legal notifications on slide two that we recommend you read, including our presentation today, which will include forward-looking statements. Thank you. Turning the slide three. Our most recent quarterly results primarily reflect to the poor chartering environment. In the three-month period ended June 30th, we generated time charter equivalent revenues of $4.1 million, down 8.8% from the same period in 2020, primarily due to lower charter rates. We had a net loss of $1.5 million in Q2, which was higher than the same period in the prior year. Our loss of $0.04 per share reflected an increased share count of 15.9 million for the most recent period. Our adjusted EBITDA for the period ended June 30th was $0.4 million. The product tanker chartering environment during the second quarter 2021 reflected a further compression of rate, especially for the spot markets in Asia. The period market, albeit more stable, did encounter a decline to levels below 10-year historical averages. However, our operating results for Q2 2021 primarily reflected the stability and contribution from the short-term time charters for our medium range product tankers. The average daily time charter equivalent for our MRs was approximately $12,700, which was about $2,165 per day lower than in the same period of 2020. While disappointing, these results were better than those…

Thanks Eddie. Let's focus on unaudited results for the three months ended June 30th, 2021 on slide 11. Our time charter equivalent revenues for Q2 of 2021, which we define as revenues net minus voyage-related costs and commissions were $4.1 million, a decrease of 8.8% from the same period in 2020, primarily due to lower charter rates. In the second quarter of 2021, our fleetwide daily TCE rate of $10,905 was almost $900 per day lower than the comparable 2020 period. Moving to slide 12, we incurred a net loss to common shareholders of $1.5 million for the three months ended June 30th, 221, or $0.04 basic and diluted loss per share, based upon 37.4 million weighted average shares outstanding compared to a lower net loss of $1.2 million or $0.06 basic and diluted loss per share based on 15.9 million fewer shares. Besides lower TCE revenues, the most recent quarterly results were negatively impacted by a $300,000 increase in vessel operating expenses. Adjusted EBITDA declined to $400,000 in Q2 2021. Please turn to slide 13, which reviews our recent fleet data by current vessel timing. The key takeaways here are as follows; depressed chartering conditions were evident by the decline in TCE for our MRs in the most recent period. The TCE for our small tankers increased over 20% to almost $6,600 per day, but utilization was lower and OpEx fleetwide increased over $700 per day per vessel to approximately $6,200, primarily due to timing differences in certain vessel costs versus the 2020 period. Please turn to slide 14 to review our capitalization at June 30th, 2021. At quarter close, our consolidated leverage ratio was lower than many publicly-traded tanker companies as net funded debt stood at approximately 36% of total capitalization. Adjusting this table for financing activities in July of 2021 would include the acquisition of the Pyxis Karteria, payment of the Series A convertible preferred stock July dividend, the purchase of a four-year interest rate cap, and receipt of the net proceeds from the follow-on offering for the preferred shares. Cash consequently would increase by approximately $1.6 million. Total funded debt rise by $13.2 million, net of deferred financing fees, and stockholders' equity increased by $5.5 million. The weighted average interest rate was 4.6% during the second quarter of 2021 and a next bank loan maturing is scheduled for the first quarter of 2023. With that, I would like to turn the call back over to Eddie to conclude our presentation.

Thanks Henry. In spite of the continued depressed chartering environment, we have taken a long-term view of the sector and our company. Since the beginning of 2020, we have completed various actions to improve our competitive position in order to take advantage of improving market conditions, hopefully later this year. Based on recent signs of optimism, we believe the current tough employment conditions should subside soon. Our stronger financial condition and operating platform give us further confidence in our abilities to weather good times and bad. Looking ahead, we are excited about the prospects of a healthier and more prosperous post-COVID world and our company. We appreciate your interest and thank you for joining our call today. We look forward to reporting on future progress at Pyxis Tankers. Be safe, be well. End of Q&A: This concludes today's conference call. Thank you for participating You may now disconnect.