Good afternoon, all in Asia, and good morning to those in Europe. This is Raymond Ching speaking. Welcome to Jinhui Shipping and Transportation Limited 2023 Q4 and annual results presentation. If anybody who cannot hear me, please type in the chat. I presume you can all hear me, and so I shall begin. Year 2023 has been a very rocky year. Especially, we have experienced, you know, the pre-previous period, you know, enjoying the COVID trade. Hold on, there's a couple more. For Q4 2023, revenue for the quarter, $25 million. Net loss for the quarter, $28 million, and this included a non-cash impairment loss on group's fleet of $19.7 million. Basic loss per share for the quarter is $0.254. For the year 2023, revenue for the year, $82 million. The net loss for the full year 2023, $55 million. Again, that included the non-cash impairment loss of $19.7 million. Basic loss per share at $0.50. Gearing ratio as of the end of 2023 is 7%. Given the weak dry bulk shipping market in 2023, driven by, you know, a number of factors: Rising interest rates due to inflationary pressure, heightened geopolitical tensions. The group reported a consolidated net loss for the year of $55 million, including an impairment loss on own vessels and right-of-use assets of $19.7 million. Chartering revenue decreased 46% to $82 million as compared to $152 million of last year, due to very weak freight rates as compared with 2022. Average TC of the group's fleet was $9,063 per day for 2023, representing a decrease of 52% as compared to $18,813 per day for 2022. Decline in vessel running costs, mainly due to a drop in crew cost under our cost reduction strategy, lower crew repatriation cost since the COVID controls has been finished or relaxed in 2023. A net loss of $1.3 million on bunker was recognized during the year, as compared to net gain of $2.4 million on bunker in 2022. Other operating expenses increased, mainly due to fair value loss on investment properties in amount of $2.3 million, and an impairment loss on assets held for sale of $1.3 million on disposal of a Supramax during the fourth quarter, which was delivered to the purchaser in January 2024. Finance costs increased in 2023 due to rising average interest rates. Secured bank loans increased from $83 million as of the end of 2022 to $88 million as of December 2023, with current portion and non-current portion of $32 million and $56 million, respectively. Capital expenditure of $24.3 million, mainly on acquisition of vessels, dry docking, and installation of ballast water tank systems during the year. A 2014-built Supramax was acquired and delivered in the fourth quarter in 2023. During the year, three Supramaxes were disposed at total consideration of $28.2 million in 2023. Two were delivered in 2023, and one was delivered to the purchaser in January 2024. We entered into a charter party for leasing one 2021-built Panamax for minimum of 22 months. Subsequent to reporting date, we also contract to acquire one 2012-built Capesize at $31 million, and one 2019-built Panamax at $31 million. This is a summary of the financial highlights for the quarter and the year end of 31st December 2023. I think it looks, it's fairly self-explanatory, so I'm not gonna go through it. The key financial ratios as of the end of 2023: total assets, $483.6 million, compared to in end 2022, $538.3 billion. Net equity as of end 2023, $349.9 million, compared to 2022, $411.1 million. As mentioned before, the interest-bearing loans has increased to $88.16 billion versus $82.8 billion. Current ratio, 1.75 to 1. Net gearing has slightly increased to 7% from 5%. Working capital, $40.6 million. We have increased that by $6 million. Available liquidity have been maintained pretty much the same at similar levels as of 2022, end 2022. As of end 2023, we have $62.6 million of available liquidity. I think this very nice chart. Actually, it looks very nice. It's very self-explanatory in terms of our fleet development. Right now, we have 22 owned vessels as of February 2024. Here's a list of our own fleet. Total capacity of deadweight, 1.28 million tons, average age of 14 years old. As of 26th of February 2024, as of today, actually, we're operating two chartered in vessels, Ever Shining and Taho Circulus. In terms of debt maturity, 37% of the $88 million are to be repayable within one year, and 63% of the $88 million will be repayable within two years. In terms of cargo mix, 72% of the cargo we carry are minerals, 13% steel products, 12% coal, 2% agricultural products, and 1% others. In terms of where we load our ships, 64% of the cargo are loaded in Asia, excluding China. 15% are loaded in China, 1% in Australia, 3% in Europe, 4% North America, 3% Africa, and 9% South America. 1% are various other smaller ports. I think if you compare this to previous periods or previous years, you, you'll see that we have a more diversified base in terms of cargo loading. In terms of distribution of cargo or discharging, the destination of where the commodities are being unloaded, 70% of our cargoes are discharged in Chinese ports.... 22% are in Asia, excluding China, 3% in South America, 1% Europe, 3% in Africa, and 1% in other minor ports. It's not the best set of results for 2023, but the market is the market. For Q4, the TCE for our Q4 2023, the TCE for our post-Panamax, Panamax fleet, $19,472 per day. Isn't it-- That's an increase, you know, compared to Q4 2022. So on this sector, you know, it's encouraging. For the full year 2023, for the post-Panamax, Panamax fleet, the annual average TCE is $13,126. Now, you can see how much the market or how poor the market or was in the first three quarters. Q4, you know, is encouraging. There's a significant pickup in Q4, as well as in recent weeks. Of course, that compared to the full year 2022 figure, is still somewhat lagging behind. For the Supramax fleet, as of Q4 2023, the TCE for Q4 2023 is $10,276, compared to Q4 2022 of $12,591. If we compare the full year 2023, which is $8,892, again, you can see the first few quarters were very, very difficult. And compared to the 2022 figure, obviously, it's a significant drop, given prior to 2023, we were enjoying the COVID trade. So overall, in average for Q4 2023, for the whole fleet, the TCE is $10,642, and for the full year, $9,063. Again, not a very good set of results, but let's look on the bright side. I think, you know, as of today, you know, the signs are encouraging. We are back into the teens figures in terms of thousands. So hopefully in 2024, we will be able to report to shareholders better results in coming quarters. On the cost side, Q4 2023, the overall daily vessel running cost of our own vessels, $9,731. This, compared to Q4 2022, is a reduction. For full year 2023, the overall, all-in cost of own vessels' daily cost, $9,212, compared to 2022, $9,885. Now, we look at the running cost in Q4, along the blue part. Q4 2023, $6,214. This looks like a big increase compared to the same quarter in 2022, as well as the previous years. But I would like to highlight that, you know, we are in very good relationship with our suppliers, so a lot of times, you know, a lot of the spare parts or consumables, the actual bills don't come until, you know, the end of the year. It's consumables and spare parts, which we have used, you know, in previous quarters as well included. So it's not, like, spread out, you know, evenly over the quarters. So bear that in mind. In terms of outlook, you will notice that, you know, we have been selling some older vessels as well as being fairly active in terms of acquiring as well as chartering tonnages. Overall, you know, seeking, you know, growth. We're seeing charters getting more confident as per the increased in inquiry for period deals. If we look at the secondhand market, the younger and more efficient secondhand tonnages from cape to medium-sized bulkers are flying off the shelves. When we look at the overall picture, we remain confident. Despite a not-so-good set of results of 2023, we remain confident, you know, looking forward, given the new building supply remains limited in the foreseeable horizon. We expect there will be meaningful increase in activities. What activities? I actually meant chartering activities or seaborne trade activities. So, we expect that will increase and, i.e., there'll be good buoyancy and support in terms of freight rates going forward. We will continue to look for opportunities to capture growth. Sorry, there's a word missing. I meant to say capture growth via fleet renewal or chartering of more tonnages. We will do that while maintaining a conservative financial position as we firmly believe that is the most important in term, you know, for a shipping company. That's all from me. Would you guys have any questions? Please fire across. If you want to ask your questions verbally, please do so, or you can type on the chat. Okay, go ahead. Okay. Does the Red Sea crisis affect any of Jinhui Shipping's operations? If yes, to what extent and in which aspects? Okay, question number one. We do try to avoid, you know, those danger zones. So, no, it doesn't, you know, affect our operation, you know, so much. Nickel represents one of our biggest trade. Going forward, I think, you know, from... Yeah, it's, it is, mostly nickel, but we, you know, as we purchase, you know, newer vessels, we also look to have the flexibility to participate in other cargos. Obviously, the purchase of the Capesize Panamax would give us flexibility to participate in cargos other than minerals, be it nickel or other things. That's okay. I know it's a typo. Anyone else has any questions? Okay, it seems like every, you know, all others are, either have no questions, very happy, or, a little shy today. I'll ask one more time. Any other questions? Okay, if you guys, you know, have any, questions that you can think of, after, I close the presentation, please email me. Otherwise, thank you very much for joining the presentation. Again, let's look on the bright side, and I look forward to, reporting to you, all of you, better results in coming quarters. Thank you.