Good day, and thank you for standing by. Welcome to the C3is Q3 2025 financial and operating results conference call. At this time, all participants are in listen-only mode. Please be advised that today's conference is being recorded. I would now like to hand the conference over to our speaker today, Diamantis Andriotis. Please go ahead, sir. Good morning, everyone, and welcome to our C3is Q3 2025 earnings conference call and webcast. This is Dr. Diamantis Andriotis of the company. Joining me on the call today is our CFO, Nina Pyndiah. Before we commence our presentation, I would like to remind you that we will be discussing forward-looking statements which reflect current views with respect to future events and financial performance and are based on current expectations and assumptions which, by nature, are inherently uncertain and outside of companies' control. At this stage, if you could all take a moment to read our disclaimer on slide two of this presentation. I would also like to point out that all amounts quoted, unless otherwise clarified, are implicitly stated in U.S. dollars. We have today released our earnings results for third quarter 2025, so let's proceed to discuss these results and update you on the company's strategy and the market in general. Please turn to slide three, where we summarize and highlight the company's performances, starting with our financial highlights. For the first nine months of 2025, we achieved a net income of EUR 5.26 million compared to a net loss of EUR 3 million for the same period in 2024, an increase of 281%. Our voyage revenues decreased by 24% compared to the same period in 2024 due to the dry docking of our Aframax tanker, resulting in a loss of revenue from our highest earning vessel over a period of 74 days. Our TC rates were also impacted, with a drop of 40%. In April 2025, we settled the final outstanding balance of EUR 14.6 million due on our latest addition, the EcoSpeedFire. We reported an EBITDA of EUR 10 million compared to EUR 3 million for 2024, an increase of 245%. Slide four shows the dry bulk trade for the first nine months of 2025. The recent U.S.-China trade truce, while fragile, should support Q4 rates via more U.S. exports. The iron ore and bauxite markets remained resilient, and 2026 could see faster expansion than 2025, driven by South Atlantic iron and bauxite volumes. The market was also supported by strong iron ore volumes to China. Dwindling Chinese iron ore and bauxite mining output will create scope for imports. Bauxite departures from Guinea to China show the usual Q3 rainy season weakness. Much of the relatively strong demand has been driven by inventory building and dwindling Chinese mining output rather than rapid growth in demand. Chinese demand is not growing rapidly, but its inventories are. Q3 was a much stronger period for seaborne coal trades than the first half of 2025. Overall levels remain slightly down against 2024 levels. Come 2026, a moderate rebound in coal trade is expected, as trade tensions in La Niña remain key risks. The grain trade boomed in Q3. This was primarily driven by bumper grain volumes in the Atlantic. China bought enormous volumes of Brazilian soybeans far later in the year than usual, as it avoided buying U.S. soybeans as part of the wider trade dispute between the two nations, resulting in U.S. exports falling 35% by the end of Q3. There was also strong grain and soy meal volumes from Argentina, thanks to government cuts in export levies and strong harvests. Come 2026, firmer EU production, moderate Black Sea growth, and strong ECSA volumes support a modest rebound in grain flows. A much more vigorous rebound will be from Chinese return to the market in Q4, with demand extending well into 2026. Minor bulk demand remains resilient, as steady manufacturing and construction underpin minor bulk imports. Slide five shows the handy-sized market fundamentals and the fleet age and growth. The market outlook shows that in January-September 2025, global exports of all dry bulk commodities loaded on handy supertonnage reached 1.328 million tons. To AXS Marine vessel tracking data, 15% of exports loaded were coal. This was largely due to a slowdown in coal mining output in China. Indian appetite for coal imports was down significantly in Q3, in line with typical seasonal trends. India's demand was also hampered by strong domestic mining. Moving on to the handy fleet age and growth, the global handy-sized fleet now stands at 3,202 vessels. Of these, 569 vessels are over 20 years of age, accounting for 17.8% of the total number of vessels. With a starting tally of 3,117 vessels, the current fleet represents a change of 2.73% in vessels' numbers over the years so far. The global handy-sized order book now stands at 226 vessels. Of these, 37 vessels are scheduled for delivery within 2025. Currently, the order book to fleet ratio stands at 7.2%, while in comparison, 10.5% of the fleet is over 25 years of age, and another 7.3% is between 20 and 24 years of age. The average age of the C3is handy fleet was 15.2 years by the end of Q3 2025. Slide six shows the Aframax/LR2 LR2 fleet size and age. As at the end of Q3 2025, the Aframax fleet in service comprised 1,191 vessels, with a total deadweight capacity of 131.35 million deadweight, reflecting a year-to-date growth of 3.03%. Deliveries in 2025 reached 47 vessels. Demolitions totaled 9 vessels, with 2 vessels removed during Q3. The current order book stands at 197 vessels. Fleet age 20 years or older totals 252 vessels, representing 21% of the total fleet. The highest number of vessels is in the 15-20 years category. The age of our Aframax tanker was 15.2 years by the end of Q3 2025. Slide seven summarizes the current tanker market fundamentals. Global oil consumption rose only modestly in Q3, and speculations are now growing over an oil supply surplus next year. Q3 Chinese crude oil imports were down 0.4% on Q2, but up 5% year-on-year. Chinese oil demand is sluggish, increasing purchases are cost-opportunistic and destined to build up inventories as domestic demand is flatlining. There is only another 2% of total growth in oil demand expected until 2030. War and global uncertainty will keep causing market disruptions, typically boosting earnings. Refinery attacks in Russia are just the latest example. Tariffs and trade. Global growth has proven stronger than anticipated in the face of trade tariff spats. However, part of this resilience was masked by front-loaded exports. China remains on track to meet its 5% growth target, an outcome few expected earlier this year. The real test will come next year. Even if Chinese exports remain strong, net exports are unlikely to grow as much as in 2025. China-U.S. relations have steadied with a one-year truce agreed, but some tariffs remain, and without a comprehensive long-term deal, uncertainty will persist. The recent U.S. tariff reduction on Chinese goods is marginal, now 47% down from 57%, and China-U.S. trade is expected to keep declining. Geopolitical uncertainty continued to dominate, especially the U.S.-China trade and maritime rivalry. Late October saw a one-year truce agreed, with U.S. tariffs on China reduced to 47%, and other measures delayed. Early Q4 saw the Israel-Hamas ceasefire, which is holding for now, albeit delicately. Ships still avoid the Red Sea despite the Gaza ceasefire. This continues to mask oversupply. It will take time for the route to be deemed safe. There was little end in sight to Ukraine war, but the U.S. is now talking tougher on sanctions, with implications for oil and tanker markets. Q3 was all about waiting for the IMO vote on net zero measures in October. The vote was eventually delayed until next year after U.S. lobbying against the rules. Bar a stark change of U.S. policy, any global carbon measures are unlikely to pass next year or at any point in Trump's term. The rules, if passed, would have effectively introduced a carbon tax on burning fuel oil. Slide eight shows the current fleet of C3is. C3is owns and operates a fleet of three handy-sized dry bulk carriers and one Haframx oil tanker. In May 2024, the company took delivery of the 33,000 deadweight dry bulk carrier, the EcoSpeedFire, bringing the total fleet capacity to 213,000 deadweight, with an average age of 14.8 years at the end of Q3. All vessels have had their ballast water systems already installed. The Afrapearl II successfully completed her dry docking in August 2025, and the next one due will be in August 2028. All the vessels are unencumbered and currently employed on short to medium-term period charters and spot voyages. None of the vessels were built in Chinese shipyards, hence not affected by the newly postponed tariffs. Slide nine shows a sample of the international charters with whom Management Company has developed strategic relationships and has experienced repeat business. Repeat business highlights the confidence our customers have for our operations and the satisfaction of the services we provide. The key to maintaining all relationships with these companies are high standards of safety and reliability of service. I will now turn over the call to Nina Pyndiah for our financial performance. Thank you, Diamantis, and good morning to everyone. Please turn to slide ten, and I will go through our financial performance for the first nine months of 2025. We reported voyage revenues of EUR 24.2 million for the first nine months of 2025, compared to EUR 32.9 million in 2024, a reduction of 26%, primarily due to the dry docking of our Aframax tanker, which resulted in 74 non-revenue days. The time charter equivalent rates of our vessels were also impacted, with a decrease of 40% compared to the same period of 2024. Voyage costs for the first nine months of 2025 were EUR 9.4 million, compared to EUR 10.4 million in 2024. This decrease was attributed to the decrease in voyage days due to the dry docking of the Aframax tanker. Voyage costs for the nine months ended September 30, 2025, mainly included bunker costs of EUR 4.7 million, corresponding to 49% of total voyage expenses, and port expenses of EUR 3.8 million, corresponding to 40% of total voyage expenses. Operating expenses for the nine months ended September 30, 2025, were EUR 7 million and mainly included crew expenses of EUR 3.5 million, corresponding to 50% of total operating expenses, spares and consumables costs of EUR 1.6 million, and maintenance expenses of EUR 1 million, representing works and repairs on the vessels. The dry docking costs for the Afrapearl II were EUR 1.7 million. General and administrative costs for the nine months ended September 30, 2025, and 2024 were EUR 2 million and EUR 2.5 million, respectively. The EUR 0.5 million decrease mainly related to expenses incurred in the nine months ended September 2024, relating to the two public offerings. Depreciation for the nine months ended September 30, 2025, was EUR 4.9 million, a EUR 300,000 increase from EUR 4.6 million for the same period of last year due to the increase in the average number of our vessels. Interest and finance costs for the nine months ended September 30, 2025, and 2024 were EUR 400,000 and EUR 2.1 million, respectively. The EUR 1.7 million decrease is related to the accrued interest expense related party in connection with the EUR 53.3 million part of the acquisition prices of our Aframax tanker, the Afrapearl II, which was completely repaid in July 2024, and our bulk carrier, the EcoSpeedFire, which was completely paid in April 2025. Gain of warrants for the nine months ended September 30, 2025, was EUR 6.7 million, as compared with the loss on warrants of EUR 10.4 million for the nine months ended September 30, 2025, and mainly related to the net fair value changes on our Class B1 and Class B2 warrants and Class C1 and C2 as well, as these were classified as liabilities. For the first nine months of 2025, the company reported a net income of EUR 5.3 million and a related EPS of EUR 3.34. Turning to slide 11 for the balance sheet, we had a cash balance of EUR 6.6 million compared to EUR 12.6 million at the end of 2024, a decrease of 48% due to the full settlement of the 90% of the purchase price of the EcoSpeedFire in Q2 2025. Other current assets mainly include chartered receivables of EUR 3.5 million compared to EUR 2.8 million in December 2024, as well as inventories of EUR 600,000 compared to EUR 900,000 at December 2024. The vessels' net value of EUR 79 million was for the four vessels less depreciation. Trade accounts payable of EUR 1.8 million are balances due to suppliers and brokers. Payable to related party of EUR 4.3 million represents the balance due to the management company, Brave Maritime. A warrant liability of EUR 3.9 million was recorded, a drop of 63% from the year-end balance of 2024 when it was EUR 10.4 million. Concluding the presentation on slide 12, we outline the key variables that will assist us progress with our company's growth. Earning a high-quality fleet reduces operating costs, improves safety, and provides a competitive advantage in securing favorable charters. We maintain the quality of the vessels by carrying out regular inspections both while in port and at sea and adopting a comprehensive maintenance program for each vessel. None of our vessels were built from Chinese shipyards, hence the ongoing tariff threat by the U.S. to China will be of no consequence to our fleet. The company's strategy is to follow a disciplined growth with in-depth technical and conditional assessment review. Equity in issuances will continue as management is continuously seeking a timely and selective acquisition of quality non-Chinese-built vessels, with current focus on short to medium-term charters and spot voyages. We always charter to high-quality charters, such as commodity traders, industrial companies, and oil producers and refineries. Despite having increased our fleet by 234% since inception, the company has no bank debts. No interests were charged by the affiliated sellers on the purchase prices of the Afrapearl II and the EcoSpeedFire. From July 2023 to date, we have repaid all of our CapEx obligations, totaling EUR 59.2 million, without resorting to bank loans. At this stage, our CEO, Dr. Diamantis Andriotis, will summarize the concluding remarks for the period examined. For the first nine months of 2025, we reported voyage revenues of EUR 24.2 million, an EBITDA of EUR 10.3 million, an increase of 245%, a net income of EUR 5.3 million, an increase of 281%, and EPS of EUR 3.5. In April 2025, we paid off the remaining balance of EUR 14.6 million due on our bulk carrier, the EcoSpeedFire. In August 2025, we successfully completed the dry docking of our Aframax tanker, the Afrapearl II. We are fully delivered, thus significantly enhancing our financial flexibility. As the world goes through an uncertain and volatile era, turbulences in the shipping market are unavoidable. The market remains as uncertain as they have ever been due to this geopolitical environment. Despite all this uncertainty, major economies are still growing, and trade volumes are still rising across sectors. In the midst of these shifting dynamics, C3is performance remained solid, and we have proved that we have built resilient and organic foundations adaptable to this changing environment. We will therefore continue with our strategy, with our debt-free balance sheet, of enhancing our fundamental ability to both further develop existing core businesses as well as explore potential new growth businesses. We would like to thank you for joining us today and look forward to having you with us again at our next call for the results of the fourth quarter of 2025. This concludes today's conference call. Thank you for participating. You may now all disconnect. Have a nice day.