Cap size cargo flow of iron ore and bauxite. Sort of West Africa that was also spilling over to our camp. Some access in particularly. But it. Also to the Ultram access. So basically. A strong first half ended right market. Our results. Yes. Increased revenues and increased activity. Stronger market. But the net TCE came in at 5.2 million, which is lower than last year. And this resulted in a loss of 6.6 million. Although there is a loss of 6.6 million in the first half. We still feel internally. That it's been okay. It's been an okay first half because we know how much. In investments we have done and how well we think we have positioned ourselves for a really strong and profitable second half a second. Half. That will be much stronger, stronger than the first half was weak. A second half that will lift the full year results into the. The black and by how much it's difficult for us to guide and for us to put the number. And the reason being that we are trading. Business that do see changes. Happen quite fast, but I can say that right now. Now the conviction internally and what we can see in our forward books are looking really good. The the admin expenses, the G and A increased. As some of you or most of you will have noticed, that is a combination of four foreign exchange rates and knock strengthening towards or against the dollar. It's inflation, but more importantly, it's also a strengthening of our chartering team, both in terms of those teams that we have highlighted a new new lumber and project team in Bergen and a new sailing team in Antwerp. A new Handysize office in Australia. But also. Also a few other individuals that I think will be key contributor for us going forward. So those are the reasons for, for, for the for the increase in in the G and a. I don't want to put too much, much emphasis or want to try to excuse our results behind the hormones. Effects, although it should be mentioned that that has had a negative drag on on the result. You can imagine we had three vessels stuck in there for almost four months. Paying the. Owners every day amounts for. From 40 to I guess peak 70 $80,000 a day. In total. So having that that backpack lifted off our shoulders and running into the second half. Without that on us. It's. It's a big relief. And it's really is a. Positive. Thing for the company, for sure. That's that on this moving on to the liquidity side, you would note that. We ended the first half with 70.3 million in free cash. No interest bearing debt. In addition to this, we have 35 million of undrawn working capital facilities. Giving us a total available liquidity of over 52 million. Free cash. Cash was down from year end, mainly due to the negative first half result, and the dividends we paid in 25. And. I think one important thing to to to note is that we reduced the equity covenant from 40 to 30 million during the period. And this gives us the additional financial flexibility going forward. On a. And positioning. The focus remains the same as what it has been for some time now. We are looking to strengthen and grow our core trading business and. To scale a fleet of partnership owned vessels. And. By delivering on these two strategic priorities, we will create a more diversified company that is less dependent on the market cycles to deliver the results and to pay dividends to the investors. Over the past year, we have successfully onboarded the. Handysize team. As I mentioned earlier, and the steel parceling team and the lumber and project team. I can say also, when we are on this topic, that all these three teams have gotten off to a good start, and I think also the cultural fit is very important here. We can see that it looks like a good match. So a good foundation to build from. And we also have improved the employee retention over the past two years. And I think it's very important milestone that we have introduced our first employee share program since 2020. And this is further strengthening the alignment between our employees and the company. And I can say from the inside. That. I can already feel the change in the room when we have meetings between teams in the company. How this is having a positive effect. Knowing that the people you discuss with are also in the same boat as you, having invested together with you. We're thinking more as one company, which is sometimes what can be a challenge as a decentralized trading company that we all pull in the same direction. And I feel this share employment or share program is really pulling, pulling us closer to. Together. So excited to see what. This brings. When it. Comes to the second pillar of how we want to. To grow and diversified and diversify and scaling this fleet of partnership owned vessel vessels. This. Started off well. We did buy last autumn a 2020 build the western Agder, together with some strong Norwegian partners. On the technical side and also on the financial side. And I think this structure sets a very good example of how we want to build this ownership and how we. Want to execute on this plan going forward. When the timing is right. And I think that that's the thing here. We have put this part. Part of our strategic focus on a deliberate pause for. For the reason being that the asset prices. Since we bought the Western has just continued upwards. And we think it has gone to. High too fast. So instead of pursuing a strategy for sake of pursuing a strategy, we're taking a pause and same as many of the potential partners that we are discussing with. They also want to take a bit of a pause and reassess, rather come back. In. A strong force later. We always put profitability ahead of growth in Western Bulk and the same goes for our chartering team and the expansion on that side as well. We want to be profitable. We want to pay dividends and that's where we are moving in that direction. Yeah. Then. Moving on to the second. Or. To the next slide here. You can see how we are positioned in the Atlantic over the next. Months. The map to the left. Each of this these dots represent a vessel. Obviously. Each of these vessels have been sent. From the Pacific or other poor performing areas into that Atlantic. On average been invested $300,000 per vessel, and. Is now in a position to cash in on long haul. Well paying frontal voyages over the coming months. The most of that. The. Most of these vessels that you see. And I think moving focus to the right hand side. Of of of this slide. You will you will see the graph that is showing the relative strength of the Atlantic basin over the. Over the Pacific Basin, showing that we are sort of entering the. The most. Lucrative time of the year to to historically be open and Atlantic. So we think we have done the right move. Investing in bringing these ships in. But we're not only going by historical reasons. We. We have to be better than that. So we have also our view on why the grain season in Atlantic will be strong this year. We have our views on why Panama Canal is causing a additional sailing distances in Atlantic this year, with a strong El Nino season. We have our reasons. Basically for. For. For having a view on a dislocation of the dry bulk fleet being on. Particularly on the Ultramax Supramax more skewed towards the Pacific, meaning lack of supply in the meaning that we think the market can be really strong in the coming months. And in this particular basin. And we'll be very exciting to to follow follow that. So I think that's that on the fleet positioning and the investing on of fleet in fleet positioning part. Moving on to the market. Outlook. Which I think there is not too much new on this slide. It is just to close off the the the presentation to to say that. The start of 2020. Second half has been very good. We already well into August. So we have some visibility. And. We think we are positioned. Positioned to to to capture this and the market in the near term we believe is looking. Strong. Although if you go further out, we have a bit more uncertainty. Down into next year with with more tonnage being delivered into the market and some, some uncertainty about the Chinese demand. But here and now things are looking good and we are positioned to to. Capture that. So. That was the last slide of the presentation. And again, very sorry for the technical. Realties we had and if you have any question now is is a good time. If not, if you don't want to ask the questions in front of everybody, then feel free to call or email Kenneth or myself afterwards. There is one relevant question that's come in and I can I can read it out and and comment on it. It's if we can elaborate on the 17.18 million derivative payable and what that is, and if it's meaningful. And meaningful net short FFA exposure, that is not it is more a. Of our derivative positions when the derivative positions can either be FFA or or bunker. When they increase in value, you receive positive margin calls on them. But as they have not matured yet, they're not booked in our books yet. So they can either be a pure long FFA positions as the market has gone up, or it can be hedges towards physical positions. Just to comment briefly on that, when it comes to cash as well, I guess it's also you will see that that our restricted cash has also increased. That's also a representative of our derivative positions have increased. Both because the market is higher, but also because we've taken increased positions in the derivatives. Good question. Yeah. And anybody else just just to. Yeah. Okay. Then. Thank you very much for joining in and have a great day. Thank you.