Good day and welcome to the Danaos Corporation conference call to discuss the financial results for 3 months ending March 31, 2023. As a reminder, today's call is being recorded. Hosting the call today is Dr. John Coustas, Chief Executive Officer of Danaos Corporation, and Mr. Evangelos Chatzis, Chief Financial Officer of Danaos Corporation. Dr. Coustas and Mr. Chatzis will be making some introductory comments, and then we will open the call to a Q&A session. Thank you, operator. Good morning to everyone, and thank you for joining us today. Before we begin, I quickly want to remind everyone that management remarks this morning may contain certain forward-looking statements and that actual results could differ materially from those projected today. These forward-looking statements are made as of today. We undertake no obligation to update them. Factors that might affect future results are discussed in our filings with the SEC. We encourage you to review the detailed safe harbor and risk factor disclosures. Please also note that where we feel appropriate, we will continue to refer to non-GAAP financial measures such as EBITDA, adjusted EBITDA, and adjusted net income to evaluate our business. Reconciliations of non-GAAP financial measures to GAAP financial measures are included in our earnings release and accompanying materials. With that, let me now turn the call over to Dr. Coustas, who will provide the broad overview of the quarter. Thank you, Evangelos. Good morning. Thank all of you for joining today's call to discuss results for Q1 of 2023. Danaos reports yet another solid quarter despite the continuing geopolitical uncertainty and the turmoil in the financial markets. Box rates strengthened after the Chinese New Year due to the blank sailings and discipline on the part of liner companies. In addition, the charter market improved due to the very limited supply of charter-free vessels, as well as the impact of speed reduction as charterers seek to comply with CII regulations. Danaos has continued its successful chartering and asset management strategy, driving steady and predictable performance and laying the groundwork for continued growth while also pursuing environmentally sound policies. Our chartering strategy delivered another strong quarter and we have operating days chartered coverage of 97% for 2023 and 73% for 2024. Our strong chartering capabilities and our business strategy continue to drive solid performance. In the Q1, we successfully secured more than $380 million of contracted revenues through multi-year charters, including $262 million for all 6 new buildings that will be delivered to us in 2024. We have placed an order for 2 additional 6,000 TEU vessels of the latest eco-design to be delivered in the Q4 of 2024 and second quarter of 2025. Our modernization efforts are key to the future of the company and highlight our commitment to maintain a high-quality fleet while supporting the ongoing decarbonization of the industry. We are very well positioned to navigate the operating environment with the new regulatory requirements that are becoming very demanding and complex. Our very strong operating platform provides us significant competitive advantage in complying with upcoming regulations while strengthening our value proposition and ties with our customer as the industry focuses on achieving environmental goals and closer cooperation between owners and charterers becomes increasingly important. We appreciate the ongoing support of our customers and employees, and will continue to work diligently for the benefit of our shareholders. With that, I'll hand the call back over to Evangelos, who will take you through the financials for the quarter. Thank you, John. Good morning again to everyone and thanks again for joining us today. I will briefly review the results for the quarter and then open the call to Q&A. We are reporting adjusted EPS for this quarter of $7.14 per share, or $145.3 million of adjusted net income, compared to adjusted EPS of $11.36 per share or $235.3 million for the Q1 of 2022. This $90 million decrease in adjusted net income between the 2 quarters is primarily the result of the $110 million ZIM dividend that had been recognized in the Q1 of 2022 and is no longer applicable as we have now disposed of all of our ZIM shares. Our adjusted net income improved by more than $20 million, mainly as a result of a $13.7 million improvement in operating revenues and a $10 million decrease in net finance expenses. More specifically, the operating revenues increased by $13.7 million to $243.6 million in the current quarter compared to $229.9 million in the Q1 of 2022. This increase is attributed to a $30.4 million increase in revenues as a result of higher charter rates. That was partially offset by $3.3 million of lower revenues due to the sale of 3 vessels over the past 6 months and a $10.1 million decrease in recognition of assumed charter liabilities amortization related to prior vessel acquisitions. We also had a $3.3 million decrease in revenues due to lower non-cash revenue recognition in accordance with U.S. GAAP. Vessel operating expenses increased by $1.4 million to $40.6 million in the current quarter compared to $39.2 million in the Q1 of 2022, mainly as a result of the increase in the average daily OpEx cost that increased to $6,800 per day in the current quarter from $6,300 per day in the Q1 of 2022. This increase is mainly due to COVID-19 related increase in crew remuneration, increased travel expenses, insurance premiums, and general inflationary pressures that have prevailed between the 2 periods. However, our daily OpEx figure still remains as one of the most competitive in the industry. G&A expenses decreased by $0.6 million to $6.8 million in the current quarter compared to $7.4 million in the Q1 of 2022, mainly as a result of the lower number of vessels in our fleet and lower stock-based compensation recognition between the 2 periods. Interest expense, excluding amortization of finance costs, decreased by $7.7 million to $6 million in the current quarter compared to $13.7 million in the Q1 of 2022. The decrease in interest expense is a combined result of a $5.7 million decrease in interest expense because of a reduction in our average indebtedness by almost $850 million between the 2 periods as a result of the rapid deleveraging of the company. That was of course partially offset by an increase in cost of debt service by approximately 3% as a result of rising interest rates. We also had a $3.4 million decrease in interest expense due to capitalized interest on vessels under construction. At the same time, we should note that interest income came in at $2.7 million this quarter, effectively covering almost half of interest expense. adjusted EBITDA decreased by 33.6% or $90.5 million to $179 million in the current quarter from $269.5 million in the Q1 of 2022. This is again primarily driven by the $110 million ZIM dividend that had been recognized in the Q1 of last year, and it's no longer applicable as we have sold all the ZIM shares. The other positive EBITDA drivers have already been outlined earlier on this call. Now we also encourage you to review our updated investor presentation that's posted on our website as well as subsequent event disclosures. A few highlights are as follows: Over the past 3 months, we have secured $380 million of contracted revenue, significantly improving our charter backlog, including $262 million of contracted revenue for 6 of our new buildings that are to be delivered in 2024, and these are all 3-year charters. As of the date of this release, the contracted cash revenue backlog stood at $2.3 billion with an average charter duration of 3.2 years, while contract coverage is at 97% for this year and 73% for next year. Analytical disclosure on charter arrangements can be found in our investor presentation. We have prepaid early on May 12th, the remaining lease obligations for 2 vessels that at the end of the Q1 had $16.3 million of lease outstanding. At this point, we no longer have any lease obligations on our balance sheet. As of March 31st, 2023, our net debt was $138 million, and we expect to be net debt-free within a matter of 2 or 3 months. In the current interest environment, this position shields us obviously from high interest costs. As of the end of the Q1, again, cash was at $360 million, while total liquidity, including availability under our revolving credit facility, stood at $731 million, giving us ample flexibility to pursue accretive capital deployment opportunities. The company's net debt to adjusted EBITDA ratio stood at 0.2 times as of the end of the Q1, and 44 out of our 68 vessel fleet in the water are currently unencumbered and debt-free. I would like to thank you all for listening to this first part of our call. Operator, we are now ready to open the call to Q&A. We will now begin the Q&A session. To ask a question, you may press star then one on your telephone keypad. If using a speakerphone, please pick up your handset before pressing the keys. To withdraw your question, please press star then 2. At this time, we will pause momentarily to assemble our roster. Our first question will come from Omar Nokta with Jefferies. You may now go ahead. Thank you. Hey, guys. Hey. Hi, John. Hi, Evangelos. Hi, Omar. Well, I guess, hi. Yeah, first off, I guess, you know, congratulations on such a strong shift and overall turnaround in the company. I would say when we look at and hearing what, Evangelos, you were just saying about getting into a net cash position here in the next couple of months, clearly you've positioned the company into basically its best financial condition, ever, or at least since it came public. You know, clearly you've been building up your cash position, and you've been looking at fine-tuning your fleet. You've done these new buildings, and you've added to it here recently. Wanted to ask about the opportunity to acquire vessels in the market today. I remember maybe a couple of years back, you were able to find a transaction where you were able to get 6 ships that were eco-designed, modern. They came with below-market contracts, but you got them on the cheap. Those types of transactions, are they available today, given the sort of the market shakeup that we have seen? Are there more S&P deals becoming available with that type of contract exposure? Any color you can give on that would be helpful. Well, there are very limited, let's say, availabilities of vessels, modern vessels. There are, of course, plenty of older ships out in the market, with charter that, you know, one could get. But again, I think that, you know, paying high dollar, top dollar, for ships that, you know, are not of the latest technology, doesn't really, you know, make sense, at least, you know, for the vision that we have for our company. You know, we are in a, you know, in a situation that, there is very little visibility as to how exactly the environmental issues are going to play. So we want all our new investments to be, let's say, environmentally safe. We have a lot of older vessels, if, of course, these vessels, the longer, of course, we can keep them, the better. We already have a big bet on this type of tonnage, so we want to, let's say, increase our bet towards the more modern eco-friendly ships. This is the reason actually that, you know, we also ordered 2 more ships. Our, let's say, bet when we ordered 6 ships last year, about a year ago, more than a year ago, without any charter commitments, has paid off, because these ships found, you know, pretty good employment. Actually, we did not really seek any, very long-term employment because we believe that for the eco ships, there's going to be upside. Got it. Thanks, John. That's helpful. Maybe just on the... you know, your 5 biggest ships, the 13,000 TEU vessels, you know, those have been on long-term contracts since delivery back in 2012. They're starting to come up open for renewal here at the beginning of 2024. I see in the chart that there's, you know, those 3-year extensions. Wanted to just ask, you know, 1, how do those option extensions work? If they were to be exercised, is it for the full 3 years or is it a year at a time? 2, when would we expect the option to be exercised? When does the strike conclude? The declaration of the option is going to be sometime in the Q4 of this year. It's approximately 120 days before the earliest expiry. In any case, we are not really concerned because there are very few, if any, ships of that size available in 2024. We are already, let's say, in contact with a number of liner companies about the employment of these ships. You know, we are working towards something, and definitely we will have something, let's say, fixed as soon as there is more clarity whether the existing charterer is going to exercise the option. Okay. Thank you. Then maybe, John, just finally on those 2 new buildings you just ordered, those are, you know, late 2024, H1 of 2025 deliveries, which seem a bit sooner than we've generally been expecting to see. Were those options that you had, that you've exercised, you know, slot options, or are these fresh orders and you've just been able to capture a pretty good delivery period? No, no. These were kind of fresh orders. I mean, the yard had, you know, these slots kind of available as part of a series of other vessels that we're building. Yeah, we moved very, very quickly. I mean, the whole deal probably closed within almost a week. That is the reason, you know, that we've managed to do it because, you know, we booked the ships without worrying about finance, worrying about charter or anything like that. This is what I've always been saying, that the strength of our balance sheet is giving us extreme flexibility to grasp opportunities as soon as they come. Certainly. Great. Well, thanks, John. Yeah, that's it for me. I'll pass it over. Okay. Thank you, Omar. Again, if you have a question, please press star then one. Our next question will come from Climent Molins with Value Investor's Edge. You may now go ahead. Good morning. Thank you for taking my questions. I wanted to ask on capital allocation. You've been clear you want to be in a position to be able to invest in modern tonnage when the time is right. The orders announced yesterday were a step in that direction. Considering you'll be net debt free pretty soon, how should we think about additional share repurchases or potential dividend increases? I think we've been very clear about that. We have in place a share repurchase program, which we are executing, you know, when we believe that conditions are right. 40% of it is already executed, almost $40 million. We hold, we have another $60 million. You know, that part is there. In terms of let's say dividends, we are maintaining, let's say, the dividend, despite let's say, the uncertainties around in the market. On the other hand, we are investing cautiously for the future, as we've done with all our new buildings. All right, that's helpful. Regarding the 2 new, newbuild orders, how should we think about pricing? Is it in line with the orders you placed a couple like last year? I'm sorry, you broke up. Can you please repeat the question? Yeah, I'm asking about the pricing on the new newbuild orders. Yes. It's something which cannot be disclosed at this stage. probably we would be in a position to disclose it in the next quarter earnings. These were freshly executed. There are certain formalities that we need to conclude. At this point, unfortunately, we're not at liberty to disclose, the price. All right, that makes sense. Thank you for taking my questions. Again, to ask a question, please press star then one. At this time, I am showing, one moment, please. One moment, please. Showing no further questions, this will conclude the Q&A session. I'd like to turn the conference back over to management for closing remarks. Thank you all for joining this conference call and your continued interest in our story. Look forward to hosting you in our next earnings call. Have a nice day. The conference has now concluded. We thank you for attending today's presentation. You may now disconnect.