Thank you for standing by. Ladies and gentlemen, welcome to the EuroDry conference call on the second quarter 2023 financial results. We have with us today Mr. Aristides Pittas, Chairman and Chief Executive Officer, and Mr. Tasos Aslidis, Chief Financial Officer of the company. At this time, all participants are in a listen-only mode. There will be a presentation followed by a question and answer session, at which time, if you wish to ask a question, please press star one on your telephone keypad and wait for your name to be announced. I must advise you that this conference is being recorded today. Please be reminded that the company announced its results with a press release that has been publicly distributed. Before passing the floor over to Mr. Pittas, I would like to remind everyone that in today's presentation and conference call, EuroDry will be making forward-looking statements. These statements are within the meaning of the federal securities laws. Matters discussed may be forward-looking statements which are based on current management expectations that involves risk and uncertainties that may result in such expectations not being realized. I kindly draw your attention to slide number two of the webcast presentation, which has the full forward-looking statement, the statement was also included in the press release. Please take a moment to go through the whole statement and read it. I now would like to pass the floor to Mr. Pittas. Please go ahead, sir. Good morning, ladies and gentlemen, thank you all for joining us today for our scheduled conference call. Together with me is Mr. Tasos Aslidis, our Chief Financial Officer. The purpose of today's call is to discuss our financial results for the 6-month period and quarter ended June 30th, 2023. Please turn to slide three of the presentation. Our financial highlights are shown here. For the second quarter of 2023, we reported total net revenues of $10.3 million and a net loss of $1.2 million, or $0.43 loss per basic and diluted share. Adjusted net loss was $1.3 million or $0.48 adjusted loss per basic and diluted share. Adjusted EBITDA for the quarter was $2.5 million. Please refer to the press release for a reconciliation between adjusted net loss and Adjusted EBITDA. The board of directors approved the extension of its share purchase program, which was originally established in August 2022, for another year. The program provided the company with authorization to repurchase up to $10 million. To date, we have repurchased 216,000 of our common shares, i.e., about 8% of our total outstanding shares in the open market for about $3.25 million since the inception of the program. The extension of our share repurchase program was approved by the board of directors as our stock is trading at a very large discount to our net asset value. Thus, buying our own stock represents an attractive investment opportunity for us. The board will review the program after a period of 12 months or after the $10 million deployment. Share repurchases will be made from time to time for cash and open market transactions at prevailing market prices or in privately negotiated transactions. The timing and amount of purchases under the program will be determined by management based upon market conditions and other factors. The program does not require the company to purchase any specific number or amount of shares and may be suspended or reinstated at any time at the company's discretion and without notice. We are also very pleased to announce that today we posted the, our 2022 ESG report on our website. We are committed towards all three elements of ESG, the environment, our social impact, and our governance. We are certain that the commitment benefits all our stakeholders in more ways than one. Tasos will discuss our financial highlights in more detail later on in the presentation. Please turn to slide four for our operational highlights. After recovering early in the second quarter, the dry bulk markets turned down again, reaching by July 2023, the very low levels last seen in January of this year. This decline in the market rates also affected our results for the second quarter. Currently, two of our vessels continue to be employed under index link charters until March 2024 and 2025 respectively, at 105.5% of the average Baltic Supramax Index. Two other vessels are fixed at medium-term time charters at currently above market rates, whilst the remaining six vessels are employed under short-term charters. You can see the specifics of the various charters we concluded in the accompanying presentation, noting the big drop in charter rates since the beginning of the second quarter. During this quarter, we were helped by the 2 FFA positions we have taken in the prior quarter, as they mitigated the effects of the lower charter rates that are still prevailing. We realized a gain of $2.3 million due to this hedge. Regarding dry docks and repairs, our M/V Santa Cruz and M/V Ekaterini P underwent dry dock. The former for almost 24 days, starting towards the end of the previous quarter, and the latter for 22 days during the second quarter. Furthermore, M/V Molyvos Luck was commercially off hire for two days during the quarter. The incident that hurt us most during this quarter happened on April 29th, 2023, when M/V Good Heart was detained by the U.S. Coast Guard at Corpus Christi for certain deficiencies. It took, it took a long time for the deficiencies to be rectified, plus EuroDry had to provide a corporate guarantee on behalf of the owner and the manager, each of which posted a security of $2 million for alleged MARPOL violations. The vessel was able to sail on June seventh after these actions. At the moment, there is no litigation, nor claims or allegations against us or the manager. We believe that if there are any, the majority of the costs will be covered by insurance. Nevertheless, we have taken a $500,000 provision in our Q2 accounts. The vessel was technically off hire for about 35 days during this period, which unfortunately resulted in the loss of the vessel's laycan period and the cancellation of a lucrative $35,000 per day charter, thus forcing us to seek alternative employment. The vessel was finally chartered at $18,500 per day until August 2023, although she had to incur an additional 13 days of waiting. At the completion of this current voyage, she will proceed to her scheduled dry dock. Please turn to slide five, which shows the main particulars of the 10 vessels that compose our fleet, which includes 5 Panamax, 2 Ultramax, 2 Kamsarmax, and 1 Supramax dry bulk carriers, with a total cargo capacity of approximately 730,000 deadweight tons and an average age of around 13.5 years. Now, please turn to slide six, which graphically shows our fleet employment. As you can see, our current fixed rate coverage for 2023 stands at around 31%. This figure excludes ships on index charters, which are open to market fluctuations that have secured employment. We currently trade our vessels in short-term charters, reflecting the current state of the market. As and if rates increase, we will aim to secure longer-term charters for some of our vessels. Turning on to slide seven, we go over the market highlights for the quarter ended June 30th, 2023, up until last week. In the second quarter, we saw a much weaker dry bulk market across all sectors, with rates taking a tumble towards the end of the second quarter. During the second quarter of 2023, the average Panamax spot rate was around $10,500 per day. By June 30th, spot rates had dropped to approximately $7,900 per day, and currently they have increased a little bit to $8,700 per day. Similarly, the average one-year time charter for Panamax was approximately $14,100 per day during the second quarter, while rates started trending lower to about $11,900 per day by June 30th, and are currently standing at $10,725 per day. We witnessed a similar development with Supramax, with declining rates. However, we have not seen this slight uptick in the recent days, as we currently do in the Panamax spot market. Please turn to slide nine. With its latest update in July 2023, the IMF's latest forecast is modestly higher than its prior predictions in April. However, still weak by historical standards. Global growth is projected to fall from an estimated 3.5% in 2022 to 3% in both 2023 and 2024, from previous predictions of 2.8% for 2023 and 3% in 2024. A marked slowdown in global activity is anticipated in the second half of 2023 and first half of 2024, but not a recession, with a look for a gradual stabilization in the second half of 2024. The latter, supported by the rate cuts in many areas around the world and the expectation that inflation will continue to fall. Timeliness of reopening appears to be uneven and volatile, even stalled, some might say. New softness in the housing market, growing concerns on local government financing risks, and an uncertain external environment for the export sector weigh on the economy's near-term growth path. China's growth fund forecast of 5.2% in 2023 and 4.5% in 2024 remains unchanged, while growth in other emerging and developing countries is projected to defy the overall global economic slowdown. There is strong demand from India, which has delivered the biggest upside surprise so far this year, with its high GDP growth in Q1 that exceeded expectations. This was driven by strong government CapEx and services, export standing out against other parts of the world. Despite the general global slowdown, the U.S. economy is forecast to moderately grow by 1.8%, which compared to the previous IMF growth forecast of 1.6%, seems to suggest the U.S. can potentially avoid recession concerns in the second half of 2023. The IMF seems to have lowered its growth projections for the U.S. for 2024, down to 1% from its previous 1.1% growth forecast. On the other side of the world, the Russian economy is faring better than expected, with a revised estimate of 1.5% for 2023, from just 0.7% previously. Despite the effect of the sanctions with the Western financial markets and many export markets for Russian companies and commodities closed. Europe is slow and will continue to be slower than earlier predicted, with a mere 0.9% growth in 2023 and 1.5% growth in 2024. According to the IMF, the all-important areas for shipping, India, China, and the ASEAN Five, will all continue to grow at a rate between 4.5%-6.3% during both 2023 and 2024, thus suggesting the dry cargo demand could, could hold up well. This view is reflected in the latest Clarksons forecast, as despite the slightly slower overall global growth expectations, dry bulk trade demand is expected to return, to return to a steady growth of 3.3% this year and 2.4% in 2024. The dry bulk trade growth is improving, driven by the Far East and the geopolitical tensions, which boost ton-mile growth. Please turn to slide 10. The order book continues to fuel positive market sentiment as it remains one of the lowest in history. The order book as a percentage of total fleet as of July 2023, stands at just 7.4%. This suggests minimal fleet growth over the next 2years-3 years, potentially leading to higher markets even with historically average demand growth. Additionally, over the next couple of years, environmental regulations could further influence supply growth, either by forcing some vessels to retire or reducing their operational speed. Turning to slide 11, let us now look into supply fundamentals in a little bit more detail. According to Clarksons latest report, new deliveries as a percentage of total fleet are expected to be 3.8% in 2023, 3% in 2024, and 2.4% in 2025. As of July 2023, the total dry bulk vessel operating fleet was 13,350 vessels, but the actual fleet growth is expected to be lower than the aforementioned figures due to scrapping and slippage. 8% of the fleet is older than 20 years old and a good candidate for scrapping, especially if the market remains at current levels. Please turn to slide 12, where we summarize our outlook for the dry bulk market. The dry bulk market drifted downwards for most of 2023 Q2, while geopolitical uncertainties remained. Weaker trends in key regions such as European coal imports and the Chinese real estate sector, coupled with lower port congestion, which is active supply, contributed to this market weakness across the sector. Aside from lower port congestion, though, slower speeds are moderating this active supply growth because newly introduced emission regulations will result in slower speeds. Also, the macroeconomic environment improved during the quarter, as inflation started coming down in many countries around the world, and various analysts revised the economic output forecast upwards. Nevertheless, uncertainty remains over the scale and timing of potential market improvements, with a range of scenarios surrounding key factors, including the global and Chinese economy, as discussed, and the aforementioned supply impacts from regulations. On balance, though, some improvement in earnings is expected to materialize in the coming quarters, as supply-demand fundamentals appear more balanced for the remainder of 2023. With dry bulk trade volumes up, especially for iron ore and coal, and the modest scheduled fleet growth on the supply side, we would expect that we will have a strong foundation for rates to increase further in 2024, provided the global economy continues to grow as per recent analyst forecasts. Let us now turn to slide 13. The left side of the slide shows the evolution of one-year time charter rates of Panamax dry bulk vessels since 2002. As of August 4th, the one-year time charter rate for a Panamax vessel with a capacity of 75,000 deadweight tons stood at $10,725 per day, lower than the median. On the other hand, you can see the historical price range for a 10-year-old Panamax vessel, which has a current price of $21.5 million. Over the past year, dry bulk prices have been gradually coming down from the previous high levels, yet they are still higher than historical average and median prices. The different development of vessel prices and market rates has become rather perplexing. The former remained at relatively high levels, while charter rates have declined significantly. As prices have started to retreat, we are conservatively positioning the company to take advantage of a probable improvement in rates in the following quarters. Our strong balance sheet will continue to be used for further stock repurchases and potential vessel acquisitions. Let me now pass the floor over to our CFO, Tasos, to go over various financial highlights in more detail. Tasos, the floor is yours. Thank you very much, Aristides. Good morning from me as well, ladies and gentlemen. Over the next four slides, I will give you an overview of our financial highlights for the second quarter and first half of 2023 and compare them to the same periods of last year. For that, let's turn to slide 15. For the second quarter of 2023, the company reported total net revenues of $10.3 million, representing a 50.7% decrease over total net revenues of $21 million during the second quarter of last year, which decrease was mainly the result of the lower time charter rates our vessels earned during the second quarter of this year compared to last, and secondarily, the increased off-hire periods of the vessel Good Heart, as Aristides mentioned earlier. The company reported net loss for the period of $1.2 million, as compared to a net income of $10.6 million for the same period the second quarter of last year. Interest and other financing costs for the second quarter of 2023 amounted to $1.4 million, compared to $0.8 million for the same period of 2022. Interest expense during the second quarter of this year was higher, mainly due to the increased amount of debt we carry and the increased LIBOR or SOFR rates our loans had over the period compared to last year. Interest income for the second quarter of this year stood at about $140,000, compared to practically no interest income during the same period of 2022. Adjusted EBITDA for the second quarter of 2023 was $2.5 million, compared to $13.7 million during the second quarter of 2022. Basic and diluted loss per share for the second quarter of 2023 was $0.43, calculated on about 2.76 million weighted average number of shares outstanding, compared to earnings per share of $3.66 basic and $3.61 diluted, calculated on about 2.9 million weighted average number of shares outstanding for the second quarter of 2022. Excluding the effect on the loss of the unrealized gain on derivatives, the adjusted loss for the quarter ended June 30th, 2022, 2023, would have been $0.48 per share basic and diluted. Compared to the second quarter of 2022, where we would have $3.43 basic and $2.38 diluted income as per share respectively. Usually, security analysts not include the unrealized part of the earnings in their published estimates. That's why we adjust our results as well. Let's now look at the numbers for the corresponding six-month periods ending June 30th, 2023 and 2022. For the first half of this year, the company reported total net revenues of $21.7 million, representing a 34.8% decrease over total net revenues of $39.3 million during the first half of 2022. Again, that is the result of lower time charter rates our vessels earned during the first half of this year. The company reported net loss for the period of $2.7 million, as compared to a net income of $21.1 million during the first half of 2022. Interest and other financing costs for the first half of 2023 amounted to $2.9 million, compared to $1.4 million for the same period of last year. This increase, again, is mainly due to the increased amount of debt we carry, as well as the increase in the benchmark rates our loans are set to pay compared to the same period of the previous year. For this period as well, we had interest income, which amounted to almost $4.4 million, compared to practically no interest income during the same period of 2022. Adjusted EBITDA for the first half of this year was $4.8 million, compared to $26.4 million achieved during the first half of 2022. Basic and diluted loss per share for the first half of this year was $0.98, calculated on 2.8 million basic and diluted weighted average number of shares outstanding, compared to gain of $7.35 basic and $7.25 diluted for the same period, the first six months of 2022. Again, if we exclude the effect on the loss for the first half of this year of the unrealized loss of derivatives, the adjusted loss attributable to common shareholders for the six-month period ended June 30, 2023, would have been $0.33 basic and diluted, as compared to a gain of $6.77 basic and $6.68 diluted for the first half of 2022. Let's now move to slide 16 to review our fleet performance. As usual, we will start our review by looking at our fleet utilization rates for the second quarter of 2023 and compare it to the second quarter of 2022. Our fleet utilization rate is broken down to commercial and operational. During the second quarter of 2023, our commercial utilization rate was 98.3%, while our operational utilization rate was 95%, compared to 99.4% commercial and 99% operational for the second quarter of last year. On average, 10 vessels were owned and operated during the second quarter of 2023, earning a time charter equivalent rate of $12,179 per day, compared to 10.79 vessels that we owned and operated during the second quarter of last year, earning on average almost twice as much, $23,490 per vessel per day. Our total daily operating expenses, including management fees, averaged $6,780 per vessel per day during the second quarter of this year, compared to $5,867 per vessel per day for the second quarter of 2022. General and administrative expenses expressed on a per day per vessel basis amounted to $876 for the second quarter of 2023, compared to $695 for the second quarter of last year. If we move further down on this table, we can see the cash flow breakeven level, which we set to pay for the second quarter of this year, and which takes into account dry docking expenses, interest expenses, loan repayments, and dividends if paid in cash. We had no dividends for this period. Thus, for the second quarter of 2023, our daily cash flow breakeven rate was $13,120 per vessel per day, compared to $11,980 per vessel per day for the same period of last year. Now let's go to the right part of this table to look at the figures for the first half of 2023 and compare them with the equivalent period of last year. During the first half of 2023, our commercial utilization rate was 99%, and our operational utilization rate was 99.7%, compared to 97.4% commercial and 99.3% operational for the same period of last year. On average, 10 vessels were owned and operated during the first half of the year, earning a time charter equivalent rate of $11,693 per vessel per day, compared to 10.17 vessels we operated during the same period of 2022, earning on average $24,025 per vessel per day. Our vessel operating expenses, again, including management fees, were $6,424 per vessel per day for the first half of 2023, compared to $5,806 per vessel per day for the same period of last year. G&A expenses, again, expressed on a per day per vessel basis, were $882 this year, compared to $778 for the first six months of 2022. Similarly, looking at the bottom of this table, we can see the cash flow breakeven rate for the first half of 2023, which as I mentioned before, takes into account dry docking expenses, interest expense, and loan repayments. In 2023, we had a $13,661 per vessel per day, compared to $12,387 per vessel per day for the same period of last year, as we paid higher operating, dry docking, and interest expenses, partly offset by lower loan repayments. Let's now turn to the next slide, slide 17, to review our debt profile. As of June 30, 2023, we had outstanding bank debt of about $78 million. Looking at the chart on the top of the slide, you can see that our debt repayments during the first half of this year amounted to about $17.8 million, including a balloon payment, which was subsequently refinanced, with $5.7 million scheduled for the second half of 2023. In 2024, our debt repayments are set to decrease to $9.7 million, excluding any balloon payments, followed by a further decrease down to $6.7 million and $6 million in 2025 and 2026 respectively. As of June thirtieth, 2023, the average margin on our debt is about 2.64%, on which we add a short rate of about 3.37% and adjust for the portion of our debt covered by our interest swaps, swap contracts. We estimate that the total cost of our senior debt at the end of the quarter stands, stood at about 7.7%. At the bottom of this table, we can see our projected cash flow breakeven rate for the next 12 months, broken down into its various components. Overall, we expect a cash flow breakeven level of around $12,815 per vessel, per vessel per day. In the same chart in the middle, you can see our EBITDA breakeven rate, which includes our operating expenses, G&A expenses, and dry docking costs, and which stands at about $8,139 per vessel per day. Let's now move to the next slide, slide 18, the last slide of my brief overview of financial results. We can see in this slide some highlights on our balance sheet in a simplified way. As of June 30th, 2023, cash and other assets stood in our balance sheet at about $48.6 million. The book value of our vessels was approximately $144 million, resulting in a total book value of our assets of about $192.6 million. On our liability side, our debt as of June 30th, 2023, as I mentioned earlier, was about $78 million, representing 54.2% of the book value of our assets, while other liabilities amounted to $4.1 million, or 2.7% of the book value of our assets, which in turn resulted in book shareholders' equity of about $110.7 million, translating to $39.1 per share. However, based on our own estimates and market transactions, we estimate that the market value of our vessels was above, above their book value and stood at about $173 million, suggesting that our NAV per share to be in excess of $49 per share. Recently, our share price is trading around $14, thus representing a steep discount to our net asset value, which in turn suggests significant appreciation potential for our shareholders and investors. With that, I concluded my remarks, and I turn the floor back to Aristides to continue the call. Thank you, Tasos. I now open up the floor for any questions we may have. Thank you. We will now be conducting a question and answer session. If you would like to ask a question, please press star one on your telephone keypad. A confirmation tone will indicate your line is in the question queue. You may press star two if you would like to remove your question from the queue. For participants using speaker equipment, it may be necessary to pick up your handset before pressing the keys. Please note that we will accept questions from analysts on priority basis. One moment please, while we poll for questions. Thank you. Our first question comes from Tate Sullivan with Maxim Group. Please proceed with your question. Hello. Thank you. Good day, yes, you mentioned a strong foundation for higher rates and positioning the, the fleet. Is, is that mainly moving off of more FFAs? Are, are you repositioning ships or, or what did you, what did you imply by that, please? Mainly, Tate, hi, first of all, mainly, we are trading our ships spot at this stage because freight rates are low in anticipation of higher freight rates, so we will be able to capture the market. Of course, we are not taking out any FFAs to hedge the positions at this levels. We are really preparing ourselves to be ready to capitalize on the strengthening market, if that happens. You gave a lot of detail on the Good Heart and the MARPOL violation. Did that possibly reflect more stringent regulations in that specific port? Can you give details to start there, please? Was that the first MARPOL violation for your fleet in a long length of time? Yeah. I, I, I spent some time on it because it was a relatively big incident. The vessel was out of service for 48 days for us, we incurred a few expenses there. It was one of the reasons, probably the main reason, why we didn't have a profitable quarter as we thought we would have had, despite the 2 dry dockings that we had during this quarter. That-that's why I spent some more time on that. There, there has been no specific allegation of any wrongdoing, but it might come. We are insured for that. I don't think it reflects any significant change in anything. It was just, you know, an unfortunate incident that may happen and happened during this instance. What did the commentary about future, the potential future $2 million payments reflect? Did you say you posted a reserve of $500,000 for that? Does insurance cover if that is the amount, the $2 million? Can you put some context to those numbers, please? Sure. Sure. We had to post a guarantee for $2 million for EuroDry and for $2 million for the, for the, the manager. It's essentially a guarantee for $4 million, which is by far the maximum amount that we may need to pay if we are, if we- If indeed the MARPOL violation. If indeed that has occurred, and, and we so agree with the Department of Justice. This is a maximum that would be payable. In previous instances or, or that we have seen in the past, amounts up to $1.5 million have been paid for that, for, for, for similar things. We think that this will be covered by insurance. There will be some niche, some costs that will not be covered by insurance, which is why we have agreed to put up a reserve on our accounts to take a provision for $500,000. We don't expect that we will need to pay anything in ex- in, in excess of that. I mean, with the cash breakeven level, I mean, just my last on, on that point of you said around $14,000. Would that number excluding the Good Heart? I mean, would it have been closer to $12,000, $12,500, or do you have that number handy, or maybe we can take it offline? I mean, the, the historical for the quarter. That, that number, the, the cash breakeven, includes loan repayments, and everything. It includes a bit of elevated expenses for Good Heart. Okay. Okay, I'll back into that. Then on the potential slow steaming, I mean, you mentioned energy efficient, existing ship index, EEXI, the CII, Carbon Intensity Indicator rating, and then maybe some, some changes with the EU carbon tax going forward. Are you preparing for any potential, I mean, financial situations with any of those regulations? Or has anybody experienced any, any financial implications, or, or could they in the fleet? Maybe it's a topic for an offline discussion as well, but. Yeah. No, this is a nice topic for general discussion. Very briefly, the EU ETS regulation that will come in effect as of next year will affect financially the charterers mainly, that wants to bring goods into Europe or out of Europe. It won't really affect us in particular. It will affect Europe. The other regulations, the main effect that they will have is that they will result in us needing to stick to go at lower speeds. If ships go at lower speeds, it's a positive obviously for the market because it effectively reduces supply of vessels. Of course, all companies are taking measures to try and reduce their carbon footprint, and we are doing the same. This is done through some modifications that one can do on the vessel. This is done through technological developments, use of digitalization and things like that. Okay. Thank you for all the comments. Have a great rest of the day. Thanks, Tate. Thank you. As a reminder, please press star one to ask a question at this time. Our next question comes from Kristoffer Skeie with Arctic Securities. Please proceed with your question. Hello, gentlemen. Thank you. Hi. For the details. Hello, hello. Thanks a lot for running through the market and appreciate all the colors on the numbers. Just want to sort of first touch upon the market. What do you see as a sort of near-term catalyst for any improvement in the rates? It seems like it's a bit slowish and not that directional currently. Do you believe that, sort of, that we might see any revival of congestion during second half? I mean, we've seen in the Panama Canal that the restrictions there have led to some improvements, at least for the container liners now. Do you think that that may occur for the dry bulk vessels as well? I, I, I think that congestion has been extremely little during the last couple of months, abnormally little. There are bound to be effects, I think, that will increase it, increase it. Also, there is historically an increase in the demand for certain cargos during the third quarter and the fourth quarter. This, this historical increase, I think will happen, will happen again. We, we are coming out of the seasonally quiet period, and thus, we think that we will see improving rates. As, as I said, there are various, you know, conflicting views now and possibilities that can happen, so it's really difficult to call the market at this stage. Thank you. With regards to that, I mean, you had a great overview over one-year time charter rates versus asset values. It seems like values are disconnected now from rates. What is your view on that? I mean, you touched upon this, but do you believe that values are set to come down or that rates sort of set to come up? I mean, this disconnect, it typically don't last that long, and that is my experience. Yes, you're, you're, you're absolutely right. That's why, one, one has to give, either values have to drop significantly or charter rates to improve further. Currently, charter rates are not improving, so we have started to see values, dropping a little bit. We will have to see how, how this whole thing plays out. Values during this last month, in July, did see, some, some headwinds, and they drop, and they are on a dropping mode. We will have to see what will happen. With that. There, there, there is an expectation by most owners that because of the very low order book, at some point, when demand picks up, we should see a significant revival in charter rates. I think this is a valid expectation. Yeah, I, I totally agree. I mean, with regards to, I mean, you have 2024 and 2025, and that growth, that looks extremely promising. It should provide sort of a backstop in terms of asset values. With that in mind, how, how do you consider, share buybacks, compared to vessel acquisition? Well, vessel acquisition is something that, we are complete. I mean- Yes, I, I, I'll tell you. I think I, I, I know where you're going. vessel acquisitions, we will, we, we are considering at this stage because the company I, I think that if prices drop a little bit, we will be able to, to see, profitable, projects in the market. Still, one of the most profitable projects is to buy back our own stock, which is trading at such a significant discount to our NAV. Definitely we will continue the process of, repurchasing stock, and we are looking at the possibility of maybe acquiring one more vessel. Okay, interesting. Good. That's it. Thank you. For me. Thanks a lot. Thank you. Thank you. As a reminder, press star one to ask a question at this time. There are no further questions at this time. I would now like to turn the floor back over to Aristides for closing comments. Well, thank you all for listening in to our, today's conference call. We will be back to you, in 3 months' time. Enjoy the rest of the summer. Thanks, everybody, for attending. Thank you. This concludes today's teleconference. You may disconnect your lines at this time. Thank you for your participation.