Good morning, everyone, and welcome to Ocean Yield's Third Quarter Earnings Presentation. As usual, I will start today's presentation with the highlights of the quarter and go through the changes to the portfolio. Then our CFO, Eirik Eide, will take us through the financials and the financing activity of the quarter. The presentation will be concluded with opening up for questions. If you would like to ask a question, please use the Q&A function. Starting off on page two. Q3 has been another active quarter for Ocean Yield. We are pleased to report a quarter with strong and stable performance. We report an EBITDA adjusted for finance lease effects of $94.6 million and a net profit of $23.2 million. In anticipation of the closing of the France LNG transaction, we continue to allocate capital to maintaining a strong balance sheet, and as such, we're ending the quarter with close to $400 million of available liquidity. The equity ratio was 34% at the end of the quarter. At the end of the quarter, and pro forma for the France LNG transaction, the EBITDA backlog was $4.5 billion, and the average remaining contract duration is 10 years. The investment in France LNG is transformational for Ocean Yield, introducing LNG as a new segment to the portfolio. The infrastructure-like characteristics of LNG fit well with our strategy of investing in modern vessels with long-term stable cash flows to tier one counterparties. During the quarter, I'm pleased to say that all regulatory approvals have been obtained and subject to certain customary conditions, we expect to close the transaction during the fourth quarter. Post quarter- end, we have taken delivery of the first Newcastlemax newbuilding, and Mineral Eire was welcomed to the fleet on 8th of October, and she immediately commenced the 15-year charter to CMB.TECH. The final scope for the Newcastlemax newbuilding program has been set to eight vessels. The next vessel, Mineral España, is coming already this Friday, and the remaining six vessels will be delivered during 2025. During the quarter, we've also maintained our high financing activity, and we have refinanced and upsized several loan agreements related to existing vessels. I will leave this to Eirik to cover this in greater detail. The appetite among new and existing banks remains strong, and we experience very attractive terms. Q3 was also an active quarter in the capital markets. A call option for the hybrid bond OCY06 was exercised, and this bond issue was repaid in full. A new NOK 1.25 billion five-year unsecured bond was also issued. The bond carries a coupon of three-month NIBOR plus 315 basis points. In parallel, we purchased NOK 139.5 million in OCY07, taking our holding in this bond to NOK 600 million. The remaining outstanding NOK 150 million will mature in December and will be settled with cash. We would like to thank our bondholders for their continued support. Following several quarters without paying a dividend and on the back of a record-strong balance sheet and cash position, the board has declared a dividend of $60 million that will be paid out during the fourth quarter. Moving on to page three. Including the investment in France LNG, we now have an EBITDA backlog at the end of the quarter of $4.5 billion. 100% of the fleet remains employed on long-term charters. Including the 12 LNG vessels, the fleet counts 72 vessels with an average age of 4.9 years. The investment in France LNG significantly increases the diversification of the backlog, and LNG and gas carriers are now making up 27% of the backlog. Also, following the addition of three European investment-grade rated companies, we now have 19 first-class end- users and charters who all have leading positions in the seven different shipping segments where they operate. This provides both sector and client diversification and creates a solid foundation for long-term stable cash flows in the years to come. So let's move to page four for more details on all the changes to the portfolio. As I mentioned, Mineral Eire was delivered from the yard on 8th of October and commenced the 15-year charter to CMB. TECH. Purchase options have also been declared for the two Interlink dry bulk vessels, Interlink Fortuity and Interlink Celerity. Both vessels are expected to be delivered in 2025. During the quarter, the Suezmax tanker Poliegos and the car carrier Höegh Jeddah were delivered to their new owners. After the quarter end, Detroit Express, Barcelona Express, Genoa Express, and Livorno Express, as well as Navigator Aurora, were sold and delivered to their new owners. So I think with that, I would like to hand the word over to Eirik, who will take us through the financials and the financing activity of the quarter. Thank you, Andreas. So let me start with taking a look at a financial snapshot of the company as of the third quarter. We have recorded EBITDA of $55.9 million, and adjusted EBITDA, where we adjust for the lease accounting effects, were $94.6 million. And we show here on the left-hand side of this slide the historical adjusted EBITDA of the company, which has shown a strong development over the recent years. Overall, for the quarter, we recorded a net profit of $23.2 million. In terms of dividends, the board has declared a dividend of $60 million this quarter, and this is the first dividend paid in 2024. We continue to build a solid cash position in preparation for settlement of the LNG investment, and we had $395.1 million of available liquidity at the end of the quarter, where $202 million is cash and $192 million was undrawn credit lines. The balance sheet remains strong with an equity ratio of 34%. So let us move on and take a look at the income statement. Overall, we have recorded total revenues of $61 million, which is slightly down from the second quarter. We had a small decrease in operating revenues due to full quarter effect from the sale of the car carrier Höegh Jacksonville, which took place in the second quarter, and the sale of the car carrier Höegh Jeddah in the third quarter. Finance lease revenue was also slightly down compared to last quarter. The decrease is mainly due to the sale of the Suezmax tanker Poliegos, which took place in Q3. Income from investments in associates was in line with the second quarter, and then we had other income of $3.1 million, which is related to the sale of vessels and lease modification gains related to vessels where options have been declared. So overall, we ended up with an operating profit of $49.6 million. On the other items, I can comment that financial expenses are reduced compared to the second quarter, and this is mainly due to prepayments of revolving credit facilities for cash management purposes and prepayment of debt related to vessel sales. So overall, the quarter ended with a net profit of $23.2 million. If we then turn to the balance sheet, you will see that on the top left, there's some reduction in vessels and equipment, and this is due to vessel sales. More specifically, this is related to the Höegh Jeddah, which was accounted for as an operating lease and was delivered to its new owners in Q3. Cash and cash equivalents were $202.8 million, and on the right-hand side, you will see that total equity was $752.1 million, and that gives us an equity ratio of 34% at the end of the quarter. Note that the hybrid capital is now reduced from $104 million in Q2 down to $75 million in Q3, as we have issued a new hybrid bond and repaid the previous instrument in full. So total assets in the company stood at $2.215 billion at the end of the quarter. Then let us move on to financing initiatives. As usual, we have had high activities on the financing side and refinanced several loan facilities, and all this gave a positive liquidity effect of approximately $31 million. And as Andreas mentioned, in the bond market, we issued a new five-year senior unsecured bond named OCY11 in the amount of NOK 1.251 billion. And this bond carries a coupon of NIBOR plus 315 basis points. Now, following that, we issued a call notice on OCY06, which was the previous hybrid bond, and repaid the remaining $29 million. So this loan has now been fully repaid. For cash management purposes, we continued to pay down on revolving credit facilities, and we had $192 million of available credit lines at the end of the quarter. So total available liquidity was record strong of $395 million, which is unusually high, but this is all in preparation for the upcoming closing of the LNG transaction. So with that, I will give the word back to you, Andreas. Thank you, Eirik. So let me summarize the quarter on page nine. Q3 was another strong and stable quarter. We are pleased with our continued access to attractive financing, as evidenced by the continued high financing activity both in the bank and bond markets, as explained by Eirik. The portfolio risk remains low, and our balance sheet remains strong. As such, we are well positioned to pursue selective growth. As we slowly start shifting our focus towards 2025, I think it's fair to say that we have a cautious view as we expect the shipping markets to gradually normalize and the geopolitical uncertainty to continue to set the global agenda. Our ambition to contribute to the decarbonization of the maritime industry remains intact, and we continue to work closely with our clients that share our ambition. So I think with that, I would like to thank you all for watching the Ocean Yield Q3 Earnings presentation, and I would now like to open up for questions. So if you would like to ask a question, please use the Q&A function. So yes, we have received a couple of questions, Andreas, that we will address. The first one is from Sindre Stavdal at DNB. How much net income is expected in 2025 and 2026 from the France LNG investment? And do you expect to use any outstanding credit lines to finance the France LNG transaction? Okay, thank you, Sindre. Well, first and foremost, we typically don't give guidance on a project-by-project basis, but I think it's fair to assume that we will generate, call it similar returns on this investment that we have guided on historically. And when it comes to funding, I think that the transaction is really split into two. So there's a cash component payable upon closing of the transaction, which will be paid partially by cash at hand and also partially by drawing down on the revolvers. And then the CapEx component will also be funded by a combination of those two, and in addition to that, cash generated in the period. So remember that there are certain vessels that are on the water and certain vessels that are due to be delivered over the next coming years. Okay, thank you. We have one more question. We noted a higher dividend this quarter after several quarters without dividends. Can you elaborate on the reasoning for this and your capital allocation policy in general? I think that's a good observation. I think it's important to also bear in mind that the last dividend payment that we made was Q3 of 2023, so there has really been four quarters since we paid the last dividend. That dividend was $30 million, so somewhat higher this time. But I think that's clearly sort of a reflection of the historically strong and robust balance sheet that we have. I think going forward, the capital allocation policy is really split into three. We are, as always, maintaining a strong and robust balance sheet is priority number one. Then we have said that we will continue to selectively grow the portfolio, but we're not going to grow just for the sake of growing. So it needs to really fulfill our risk and return requirements. Then finally, if there's any capital left, we will distribute a, call it, prudent amount of capital back to our shareholders, and that will be decided by the board if and when relevant. Okay, thank you. I think that seems to be all the questions we have received. Okay, so I think if there are no further questions, we would like to thank all of you for listening to the Q3 earnings presentation. Thank you.
Loading workspace