Certain statements in this conference call may constitute forward-looking statements. Actual results could differ materially from those discussed in the call. Please refer to the complete cautionary statement regarding forward-looking statements in the press release dated August 1, 2012 which can be found on the company’s website. It is the company’s intention to make a presentation on the earnings results and then to open the call to questions.
I would now like to turn the call over to Mr. Robert Perri, CFO, of Box Ships. Good Afternoon Robert.
Good Afternoon Michael and Good morning everyone. Welcome to the Box Ships’ earnings conference call and joining me today is Mr. Michael Bodouroglou, our Chairman, President and CEO who will be available during the question-and-answer session after we finish our prepared remarks.Today, we shall discuss our financial results for the second quarter and six months ended June 30, 2012. We will also update you on the latest developments since our last conference call, as well as our views on the container ship industry. Then I will go into more detailed analysis of our financial results and then turn the call over for questions. On slide four, let me start by providing a brief overview of Box Ships and our philosophy. Box Ships were created by Paragon Shipping in 2010 to take advantage of opportunities in the container ship sector. Paragon remains our largest shareholder and together with our Chairman and CEO Michael Bodouroglou, own over 26% of the company. Our focus is to maintain moderate leverage and to employ Box Ships existing fleet of nine vessels on period charters with staggered maturities, so that we will be in a position to meet our debt obligations and pay the majority of the remainder of our cash flow to our common shareholders in the form of dividends.