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Thank you for standing by, ladies and gentlemen, and welcome to the Star Bulk Conference Call on the First Quarter 2011 Financial Results. We have with us Mr. Spyros Capralos, President and Chief Executive Officer and Mr. George Syllantavos, Chief Financial Officer of the company. (Operator Instructions) I must advice you that the conference is being recorded today, Friday, May 13, 2011.
And we now pass the floor to one of your speakers today, Mr. Spyros Capralos. Please go ahead sir.
Thank you, operator, and good morning ladies and gentlemen. I’m Spyros Capralos, the President and Chief Executive Officer of Star Bulk Carriers and I would like to welcome you to the Star Bulk Carriers’ first quarter 2011 financial results conference call. Along with me today to discuss our financial results is our CFO, George Syllantavos.
Before we begin, I kindly ask you to take a moment to read the Safe-Harbor statement on slide number 2 of our presentation. While you do that and before we commence the earnings presentation, I would like to take the time and inform those of you who did not have the time to read our latest press release this morning that Star Bulk has entered into definitive agreements to acquire two capesize vessels with long time charter rates attached to a high credit rating mining company and at favorable rates compared to current market levels. We will discuss this in further detail during the presentation.