Thank you all for standing by, ladies and gentlemen, and welcome to today’s TORM’s Q1 2019 Report Conference Call. I would now like to hand the conference over to your speaker, Mr. Jacob Meldgaard. Thank you. Please go ahead. Christian Søgaard-Christensen: Thank you for dialing in, and welcome to TORM’s conference call with R&D results for the first quarter of 2019. My name is Christian Søgaard-Christensen, and I’m the CFO of TORM. As usual, we will refer to the slides as we speak, and at the end of the presentation, we will open up for questions. With that, turn to Slide 2 please. Before commencing, I would like to draw your attention to our Safe Harbor statement on this slide. Slide 3 please. So the presenters today is Executive Director, Jacob Meldgaard; and myself Christian Søgaard-Christensen, CFO of TORM. Slide 4 please. And as we turn to the presentation of the first quarter of 2019, I will hand over to Jacob.

Thank you, Christian, and good afternoon. TORM’s first quarter of 2019 results reflect the strong operating performance the company has had due to an improving product tanker market as well as the benefit we derived from our fully integrated in-house platform. This is shaping up to be an exciting year, and I’ll describe later in the presentation how we look at this. First, let me summarize our results. In the first quarter of 2019, we realized a positive EBITDA of US$61.5 million and a positive profit before tax of US$23.5 million, or equivalent to US$0.31 per share. TORM’s return on invested capital was positive at 8.8%. The estimated net asset value was US$829 million as of March 31. And later in the presentation, Christian will take us through a breakdown of this metric. Illustrating our continued focus on maintaining a solid balance sheet, the net loan-to-value was 52% at the end of the quarter and available liquidity was US$438 million. TORM realized an average TCE rate of US$17,949 per day in the first quarter of 2019 at the strong market from the end of 2018 carried over into the New Year. The market has softened a bit since the strong start due to various factors, which I will revert to you shortly, although, rates are still well above last year’s results. As of May 7 this year, TORM has covered 58% of its second quarter earning days at an average TCE rate of US$16,248 per day. We believe that there are positive dynamics present in the market to support the sustained recovery and I will comment on the market in detail on the following slides. In the first quarter of 2019, we saw two older MR vessels as part of our continuous fleet renewal activity. We still have seven MR…

[Operator Instructions] We do not have any questions over the phone, sir.

So this will conclude the earnings conference call for the first quarter of 2019. Thank you for dialing in.

Thank you. That concludes our call for today. You may all disconnect, and thank you all for participating.