Good day, and welcome to the Nakilat second quarter 2022 results conference call. Today's conference is being recorded. At this time, I would like to turn the conference over to Ahmed Hazem Maher. Please go ahead, sir. Thank you, Tracy. Hi, good morning and good evening, ladies and gentlemen. This is Ahmed Hazem Maher from EFG Hermes Research. I'd like to welcome you all today on Nakilat second quarter 2022 results conference call. I'd like to start off by congratulating Nakilat on the second quarter results. With us on the line today is Mr. Hani Abuaker, Mr. Fotios Zeritis, and Mr. Waheed Siddiqui. Without further delay, I'd like to hand over the call to Fotios. Fotios, please go ahead. Good afternoon, everyone, and welcome to Nakilat semi-annual 2022 results conference call. For your convenience, the transcript of this call and presentation will be available on the company's investor relations section of our website. As a reminder, this conference call is being recorded and media or press is not allowed to attend this IR conference call. Many of our remarks contain forward-looking statements and for factors that cause actual results to differ materially from these forward-looking statements, please refer to slide two of investor relations presentation. In addition, some of our remarks contain non-IFRS financial measures. A reconciliation of this is included in the note of this presentation. Waheed, Nakilat's Financial Planning and Reporting Manager, will begin today's call with a brief discussion of group earnings results. After, I will give you overview of LNG shipping market. Finally, Nakilat CFO, Hani Abuaker, will walk you through the company's business outlook. I will be happy to address your questions. Now, I would like to hand it over to Mr. Waheed Siddiqui, Nakilat's Financial Planning and Reporting Manager. Waheed, please go ahead. Thank you, Fotios Zeritis. Good afternoon, everyone, and welcome to Nakilat's first half 2022 earnings results conference call. Our CFO, Hani Abuaker, and our Head of Investor Relations, Fotios Zeritis, and I will be a guide to the presentation that you have. I hope you and your families are safe and life is returning to normal following the pandemic. Also, my thoughts go out to everyone impacted by the war in Eastern Europe, and we pray the world returns to peace soon. These thoughts and sincere gratitude also go out to our seafarers and shore-based staff for their dedication and continued efforts to bring clean energy to the world without delay. Moving to our first half of 2022 achievements, Nakilat is now successfully managing the fourth and final new-build LNG carrier, which was received in January 2022 on time and on budget. This is an indication of Nakilat's excellent technical and operating management, as well as our seafarers' commitment to growth and progress. Turning to slide seven of the presentation, I am pleased to announce Nakilat reported a profit of QAR 730 million, or 0.13 per share. This represents an increase of 14.9% year-over-year compared to the first half of 2021. Nakilat's continued efforts to optimize its structure and generate the additional savings have led to a reduction in G&A of G&A expenses of 2.2% versus the same period last year. Nakilat also has healthy and stable operational cash flows as evidenced by our first half EBITDA, which stands at QAR 1.735 million, an increase by 8.2% year-over-year, with a current ratio of 1.18. With a resilient business model and a focus on growth, Nakilat is well positioned to continue creating an added value for its shareholders. This is further evidenced by a 13.5% return on equity. I will now hand back to Fotios to provide you with an overview of the LNG shipping market. Go ahead, Fotios. Thank you, everyone. Thank you, Waheed. Hello, everyone. I would like to give you a brief update on the LNG shipping market now. The global community attention is on the availability of liquefied natural gas. The war between Russia and Ukraine has highlight the criticality of LNG, not just a transitional fueling to a lower emission world, but also as a vital element of many countries for their energy security plans in short term and long term. The increased LNG demand will likely lead to an increasing number of long-term LNG supply agreements, which will support an increasing number of LNG shipping requirements, which are needed in order to transport LNG globally. Now, please turn to the slide 12 of our presentation. According to Clarksons, the average spot charter rates in the first half of 2022 for modern two-stroke tonnages is around $70,000 per day, $47,000 per day for DFDEs, and $30,000 per day for steamers. Clarksons also assesses the average 2021 year LNG shipping charter rates at $124,000 per day for mega XDFs, $97,000 per day for DFDEs, and $53,000 per day for steamers, which is a very helpful benchmark when an owner discusses the term charter opportunities. At page thirteen of our presentation, you can see the global LNG fleet has approximately 644 vessels in operation and another 209 conventional LNG vessels on the orderbook until 2025 as per Clarksons. This implies an increase 32% of total LNG fleet in terms of number of conventional LNG vessels as of the second quarter 2022. LNG shipping is now recognized more than ever since an LNG carrier is the most critical part of the entire LNG value chain and in transporting the LNG across the world. Persisting concerns related to energy security and logistical bottlenecks around the world will continue to drive the LNG shipping requirements and lead charterers to seek term coverage and certainty to secure shipping capacity. All the above indicate a favorable long-term environment for the global LNG shipping. After all these things, now I would like to hand it over to Mr. Hani Abuaker, our CFO, to give you an insight into Nakilat business outlook. Hani, please go ahead. Thanks again, Fotios and Waheed, for the overview. Good afternoon, everyone. I'll start to give some insights about Nakilat outlook. Well, despite the elevated inflation and tightening monetary policy and geopolitical uncertainty, which have recently rattled the capital markets, Nakilat defensive business model is strong and can navigate through a volatile environment. As the world dynamics change, our LNG vessels, which acts as a floating pipeline, offer an immense flexibility and versatility. Whether the geopolitical uncertainty, natural disasters or others, Nakilat business model remains resilient and in fact strengthen our resolve to deliver clean energy worldwide. Despite the elevated inflation and expected rise in interest rate, we believe that our maturity of debt that is at are supposed to minimize our exposure in the future. We have already started to see more sustainable activity in our shipyard segment as we recover from COVID-19 and we come back to the normalcy. For the shipping segment, we're continuing to monitor business opportunity worldwide as Nakilat with a solid foundation and free cash flow allow us to take advantage of attractive global business opportunities should they arise and further add value to our shareholders. Now, I will shortly discuss about Nakilat business outlook for 2022. Having passed that first half year mark, we expect to see another successful year for Nakilat due to the management's continued effort to minimize any impact and maximize the utilization of our fleet and optimize our expenses. The rebound in shipyard segment is expected to continue with little volatility. It goes without saying that Nakilat is continuously screening the global LNG shipping market to identify attractive business opportunities, which continue to provide sustainable return to our shareholders. With that, I will ask the operator to open the floor for questions, and hopefully we can answer it today. Please go ahead. Thank you, sir. If you would like to ask a question, please signal by pressing star one on your telephone keypad. If you're using a speakerphone, please make sure your mute function is turned off to allow your signal to reach our equipment. Again, press star one to ask a telephone question. We'll pause for just a moment to allow everyone an opportunity to signal. As a reminder that is star one to ask a telephone question. Maybe I can get things started. I have a question on the CapEx per vessel. These days, I'm reading across that CapEx per vessel has gone up maybe from $190 million to closer to $230 million. Is there any indication of things easing off, or can we get a confirmation from your side? Fotios, maybe. Thank you. Hello, Ahmed, thanks so much for the question. Generally speaking, as you have seen, we live in very inflationary environment around the world. Also, the LNG demand, LNG transportation demand has increased a lot. As a result of this one, as you said, the cost of a new build has increased and has reached approximately $230 million. Of course, it depends on the specification of the vessels, the size of the vessel, the propulsion system of the vessels. So it depends on the specifics. But, let's say a rough number is what you mentioned. Indicatively, I know there are not a lot of Q-Max and Q-Flex vessels out there, outside of your own fleet, but what would a Q-Flex and Q-Max vessel cost these days? You know that we are among the only few owners that will have the Q-Max, Q-Flex built for the project of the Qatar. Currently, there is no order for Q-Max, Q-Flex, so there is no indication in the market at the moment for this vessel because it's very rare to find it in the market. For normal conventional vessels, XDF, ME-GI. ME-GI, etc. It's approximately 235-240, but it depends again on the specifications. Okay, thank you, Fotios. I think we have some questions in the Q&A box now. As a reminder to ask a telephone question, please signal by pressing star one. We will now take our first question from Nafez Al Abbas from Ajeej Capital. Please go ahead. Thank you, gentlemen, for the call. We really appreciate it. Congrats on the results again. I just wanted to touch on the debt again, because previously we were waiting if you guys have any update on refinancing some of the outstanding debt that will mature in the next few years. If you can touch also on the portion of the debt that is exposed to variable rate. Like, a rough estimate would be fine. Thank you again. Thank you. I'll take this question. Regarding your position on the rough estimate of the unhedged portion. Roughly, 70% of Nakilat loans are hedged, which provide a shield against the fluctuation in interest rates. Beyond that, we're exposed to the change in variable interest rates. So that answers the second portion of your question. The first portion of your question related to refinancing the loans that are coming up over the next couple of years, correct? Yes, that's correct. Okay. The loans that are coming up for refinancing, we have a few, within our entities this year and over the next couple of years, more coming up for refinancing. We normally start the refinancing process earlier, much earlier, to scan the market and try to get the best possible rates. In this market, we have already started, so you should see, new refinancing coming in for our loans going into the next couple of quarters and into next year. I see. Do you expect that, I mean, you'll be able to do that before interest rates are hiked further, just for you to lock in low rates for a longer period? Yes. As I mentioned. Uh- Sorry, go ahead. Yeah, sure. For us is we can screen the market, and we can ensure to manage two elements. One of it is the most important is the margin that we get on these loans. I'm sure now with what's happening in the world, the people understand the importance of the LNG ships more than ever before. We should really expect a favorable rate in that regard. On the other part, which is the LIBOR or the new SOFR, I'm sure that we have a current strategy to mitigate or not to lock in for the time being if the rate is high, and later on we can lock the rate once a good opportunity is, you know, back to normal and we feel. We can really secure the financing, and then we can lock the rates once the amount is due. Particularly if you're talking about the majority, which is in our Nakilat Inc., that you're talking about, that amount is in 2025. I think we still have a quiet time, you know, to really get to lock our rates maybe at the right time, at the right rate once the market normalize back to normal over the next two to three years. We have enough time. Thank you very much. As a reminder to ask a telephone question, please signal by pressing star one on your telephone keypad. We'll pause for just a moment to allow everyone opportunity to signal. There appears to be no further questions at this time. I would like to turn the conference back to the host for any additional or closing remarks. Thank you, Tracy. Mr. Hani, do you have any closing remarks that you'd like to give? Sure. Once again, thank you all for coming today, and we are happy that we have achieved good results again, and that's we are continuously to do so over the last four years, I believe. We are committed again to all the investor relations relationships, so please feel free to reach out to us for any clarification. Fotios and the team, I'm sure they will able to do so. Once again, I'm looking forward to see you in person very soon, hopefully over the next couple of months. Thank you very much. This concludes. Thank you very much. Thank you everyone for attending and joining the call. Tracy, back to you. Thank you. This concludes today's call. Thank you for your participation. You may now disconnect.