Good morning, everyone, and welcome to Ocean Yield's First Quarter 2024 Earnings Presentation. As usual, I will start today's presentation with the highlights of the quarter and go through the changes to the portfolio before our CFO, Eirik Eide, will take us through the financials and the financing activity of the quarter. Then the presentation will be concluded with opening up for questions. Starting off on page two. Q1 has been a relatively uneventful quarter for Ocean Yield, and we are pleased to report another quarter with strong and stable performance. We report an EBITDA adjusted for finance lease effects of $96.8 million and a net profit of $23.2 million. We continue to allocate capital to maintaining a strong balance sheet, and we're ending the quarter with $119.4 million in cash and available liquidity of $215 million. The equity ratio was 32.4% at the end of the quarter. At the end of the quarter, the EBITDA backlog was $4.1 billion, and the average remaining contract duration is still exceeding 10 years. Q1 was another active quarter on the financing side. During and post-quarter end, we have signed two new loan agreements, and we have successfully raised $75 million through the issuance of a new hybrid bond. We thank our bondholders for their continued support. Eirik will cover the activity on the financing side in greater detail later in the presentation. Let's move to page three for more details on changes to the portfolio. On November 10, we announced the acquisition of two Suezmax tankers from Euronav. We took delivery of the second vessel, the Cedar, on 10th of January. The third and final new build container vessel, Mississippi, was successfully delivered from the shipyard in Korea on 27th of March and commenced a seven-year time charter to ZIM two days later. During the quarter, Navig8 Prestige, Milos, Mineral Qingdao, and Bulk Shanghai were delivered to their new owners following previously announced option declarations. Post quarter end, Bulk Seoul and Höegh Jacksonville were delivered to the new owners, and the purchase option for Höegh Jeddah was declared. She is expected to be delivered to Höegh Autoliners in September. Moving to page four. Including the investment activity announced during 2023, we now have an EBITDA backlog as of Q1 of $4.1 billion. The average contract duration of the portfolio is more than 10 years, and 10— and 100% of the fleet is employed on long-term charters. The diversified modern fleet have an average age of 5.3 years and comprise 64 vessels at the end of the quarter. The vessels are on charter to 18 different customers in eight different segments and provide both sector and client diversification. Following the strong continued performance of the majority of the shipping markets, lease-to-value of the portfolio stands at solid levels, and the portfolio of long-term leases to leading counterparties provide the foundation for stable and predictable earnings in the years to come. 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. So we go to slide 5, which shows a financial snapshot of the company as of the first quarter. We have recorded EBITDA of $59.1 million in the quarter, and adjusted EBITDA was $96.8 million. Net profit, $23.2 million, and as Andreas commented on, the board has decided not to declare a dividend this quarter. The company's cash position remains solid, with $119.4 million in cash, and then we have undrawn credit lines of $95.9 million, bringing total available liquidity up to $215.3 million at the end of the quarter. Still, the balance sheet remains strong, with an equity ratio of 32.4% at the end of the quarter. Moving on to the profit and loss, and looking at operating revenues, where we have recorded $20.4 million compared to $16.8 million in the fourth quarter. The increase here is mainly due to full quarter earnings effect from the container vessel Ganges, which was delivered in Q4, and the delivery of the container vessel Mississippi in the first quarter. Finance lease revenues were $36.3 million in Q1, compared with $34.3 million in Q4. And the increase here is mainly related to full quarter earnings from the two Suezmax tankers delivered in Q4 and the delivery of one Suezmax tanker in Q1. This was partly offset by the sale of two bulk carriers and one Suezmax, also tanker, during Q1. Income from investments in associates, which is related to the 49.9% ownership in seven container vessels, was $4.9 million, compared to $5.8 million in Q4. The variation here is mainly due to movements on interest rate swaps. Then we had other income, which was $1.6 million, and this is related to the sale of the two dry bulk vessels in the first quarter. So that gives us total revenues of $63.2 million, compared to $59.8 million last quarter. Looking at depreciation, that was $6.3 million, which is slightly up from last quarter due to delivery of the container vessel Mississippi, and that gives us then an operating profit of $52.8 million, compared to $49.5 million in Q4. Financial expenses were $32.9 million, compared with $31 million last quarter, and the increase here is mainly due to drawdown on debt related to vessel deliveries. Foreign exchange movements and mark-to-market of derivatives were net positive with $0.8 million. The quarter ended with a net profit of $23.2 million, compared to $23.3 million in Q4. Moving on to the balance sheet. On the left-hand side, we have an increase in vessels and equipment compared to the fourth quarter, due to delivery of the final container vessel from the yard, which has been then reclassified from the line new buildings. Then on the Newcastlem ax newbuilding program, we have made two further payments to the shipyard, so this is now increased to $91 million compared to $84 million last quarter, and this is accounted for under other non-current assets. Cash and cash equivalents were $119 million, compared to $116 million last quarter, and total equity $753 million compared to $652 million in Q4. And this is reflecting the issuance of the new hybrid perpetual bond, which has increased from $30 million to $105 million this quarter. Total assets were then $2.321 billion, and that gives us an equity ratio of 32.4% at the end of the quarter. Then moving on to talk a little bit about the financing initiatives. So during the first quarter, we have signed 2 new loan agreements for the financing of the Newcastlemax newbuildings. So with that, we have actually financed 8 out of 9 vessels in this newbuilding program. For the final vessel, CMB has a cancellation option for the lease, so this will only be financed when we have clarity on the outcome of this option. And as mentioned earlier, we took the opportunity to issue a new $75 million perpetual hybrid bond this quarter, carrying a coupon of SOFR plus 5.35%. This is accounted for as equity according to IFRS. And this bond issue was a refinancing of the existing hybrid bond, where we have a total of $30 million remaining, which can be called at par in September. This bond issue was our tenth issuance in the Nordic market since its inception of the company in 2012. Finally, during the quarter, we have used excess cash to reduce the outstanding amounts under our revolving credit facilities. We have converted several term loans into revolving credit facilities, which remain available for drawdown in the future. This gives us added flexibility and firepower when it comes to new transactions. That concludes my part of the presentation, and then I'll give the word back to Andreas, who will summarize. Thank you, Eirik. To summarize the quarter on page nine. The majority of the shipping markets have continued the strong performance of 2023 into the first quarter, resulting in solid asset values and robust lease-to-value figures for the portfolio of long-term leases. Q1 was another strong and stable quarter, and we are pleased with our continued access to attractive financing, both in the bank and bond markets. We continue to evaluate a range of transactions, looking at both traditional sale and leaseback transactions, as well as more M&A-related transaction opportunities. Our ambition to selectively pursue growth with new and existing customers remain intact, but it's fair to say that we are somewhat more cautious given where we are in the respective underlying shipping cycles. As always, client selection remain paramount as we seek to partner with the right clients. With that, I would like to thank you all for listening to the Ocean Yield Q1 2024 earnings release, and I would now like to open up for questions. So if you would like to ask a question, you could use the Q&A function in the webcast, and we'll wait a second for incoming questions. There appears to be no incoming questions. So with that, we conclude the webcast. Thank you for listening.
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