Good morning, everyone, and welcome to Ocean Yield's first quarter 2022 earnings presentation. With me today, as always, I have Ocean Yield CFO, Eirik Eide. Let me start off on page two. Q1 2022 was a stable quarter with focus on operations for Ocean Yield. We are pleased to report an EBITDA adjusted for finance lease effects of $68.4 million and adjusted net profit of $21.4 million. 96% of the portfolio is employed on long-term charters, providing stable and predictable income for the years to come. On the back of strong performance in the majority of the shipping markets, the counterparty risk in the portfolio has generally improved during the quarter, and rising asset values result in attractive lease to values on a portfolio basis. During the quarter, we extended the maturity on two existing financings, and we now have no remaining maturities for the remainder of 2022. As a general remark, we can mention that we experienced strong appetite from both existing and potential financing partners for both current and potential projects. During the quarter, we sold the product tankers Navig8 Pride and Navig8 Providence following the declaration of the option to sell these to a third party declared by Navig8. These vessels were owned by a joint venture 50% owned by Ocean Yield, and the joint venture recorded a small profit from the declaration of these options. Moving to page three. On May 13th, we took delivery of Nordic Harrier from Samsung Heavy Industries in Korea. Upon delivery, she commenced a 10-year bareboat charter to Nordic American Tankers, a leading tanker operator listed on the New York Stock Exchange. The delivery was financed by a new $40 million Korean export credit loan facility supported by Crédit Agricole and SEB at attractive terms, and we thank the banks for their continued support. The sister vessel, Nordic Hunter, will be delivered in June 2022 and will be financed at the same terms. As reported by Nordic American Tankers, both vessels will be employed on subcharters to Asyad Shipping Company for six years. Asyad Shipping is controlled by the Sultanate of Oman. Ocean Yield have financed $44 million per vessel through the sale and lease back, and with these vessels currently being valued in the high 60s, they represent an attractive investment, and we are pleased to continue our close cooperation with Nordic American Tankers. Moving to page four. Following the investment activity completed during the fourth quarter, we now have an EBITDA backlog of more than $3 billion. The average contract duration is more than nine years, and 96% of the portfolio is currently employed on long-term charters. This, combined with a diversified fleet comprising 62 vessels with 18 different customers in seven different segments, provide the foundation for stable and predictable earnings in the years to come and serve as a strong platform for future growth. With that, I would like to hand the word to Eirik, who will take us through the financials for the first quarter. Thank you, Andreas. We move on to slide five, which shows a financial snapshot of the company as of the first quarter. We have recorded EBITDA of $41.1 million in the quarter and EBITDA adjusted for finance lease effects of $68.4 million. Adjusted net profit, $21.4 million compared to $23.6 million in Q4. The company's cash position was $89.3 million at the end of the quarter. The board of directors has decided not to declare any dividend this quarter. After the end of the quarter, we received an extraordinary dividend of approximately $30 million from our joint venture, Box Holding. Hence, we forecast a strong cash position for the end of the second quarter. The equity ratio was 29% at the end of Q1. Moving on to slide six, talk about the P&L. On operating revenues, we have recorded $16.6 million compared to $17.8 million in the fourth quarter. The reduction is mainly due to lower revenues from the two anchor handling tug supply vessels operating in the Solstad UT 733 pool. On finance lease revenues, we had $22 million in Q1 compared to $21.3 million in Q4. The slight improvement here is due to full quarter earnings from those vessels delivered in the middle of the fourth quarter last year. On income from investments in associates, which is related to the 50% ownership in four tankers and 49.9% ownership in seven container vessels, that was $5.2 million this quarter compared to $2.5 million in the fourth quarter. I should mention that in the fourth quarter, the figure was affected by swap termination costs in connection with the refinancing of the joint venture company, Box Holding, where we own 49.9%. For this quarter, revenues are more or less back to normal in this segment. In total, we have total revenues of $43.8 million compared to $47.4 million last quarter. I will also mention that the comparable figure in the fourth quarter contained a one-off profit of $5.6 million in connection with the sale of two VLCCs. Operating profit, $33.7 million compared to $34.1 million in Q4. This is more or less in line with the previous quarter. On financial expenses, they were $12.4 million compared to $17.2 million last quarter. The previous quarter had costs related to the recognition of unamortized loan fees in connection with the sale of two VLCCs, and also bank and bond fees paid in connection with the change of control process that we went through in Q4, so this was higher than normal. Now we are back to more ordinary levels in terms of financial expenses. Net profit for the period of Q1 was $22.1 million compared to $17.9 million in Q4. Moving on to the next slide, adjusted EBITDA and adjusted net profit. EBITDA adjusted for finance lease effects was $68.4 million, which includes the repayments of finance lease element, which was $27.4 million. The adjusted net profit was $21.4 million and includes adjustments for FX movements and change in fair value of financial instruments, plus also a change in deferred tax. Finally, some small comments on the balance sheet. There are not many elements to comment on this quarter. On the left-hand side, we have an increase in the investments in associates due to positive mark-to-market movements of interest rate swaps during the quarter for that investment. Cash and cash equivalents, $89.3 million compared to $121 million last quarter. On the right-hand side, book equity was $663 million at the end of the quarter, and total assets was $2.283 billion. That gives us then the equity ratio of 29% at the end of the quarter. That summarizes my part of the presentation, and I will now give the word back to Andreas to summarize. Thank you, Eirik. To summarize on page nine, Ocean Yield has a robust financial position, and our access to financing remains strong. The board of directors have, as Eirik said, elected not to pay a dividend for the first quarter, resulting in a significant investment capacity for the coming quarters. The portfolio is performing well across all segments, and the counterparty quality remains strong on the back of strong performance of the underlying shipping markets. Ocean Yield is actively looking at various investment opportunities. Our focus remains on modern tonnage, commodity shipping, and strong counterparts, and we have a clear ambition to continue to grow and diversify the portfolio. With that, I would like to thank you all for listening to the Ocean Yield Q1 earnings release, and I would now like to open up for questions from the web. Thank you, Andreas. We have received one question from the web at this time. How may rising inflation and interest rates impact Ocean Yield, and what are you doing to mitigate these risks? Yeah, we can both answer that. I think in general most of our leasing contracts have what we call floating LIBOR-linked leases, which means that it's the counterparty who's responsible for the interest rate risk. If we have an increase in interest rates, then they will compensate us for that. In addition to that, we also have certain hedges on those charter contracts that are not subject to floating LIBOR rate leases. Overall, if you look at our sort of general hedging portfolio, we are approximately somewhere between 85%-90% hedged on the outstanding debt that we have. We can also add that in certain cases where our clients have requested a fixed rate lease, that has been done back to back, i.e., we have hedged the bank debt as well. From that perspective, I think we are in a fairly good position, taking into account the rising interest rate environment. Yep. That seems to be the only question. Okay. Thank you. Thank you all for listening. I think that concludes the call.
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