In slide 5 we provide a background information for the company. We think our [inaudible] in our long history predecessor since 1958, we have experienced many shipping cycles, management investing in shipping activities show you through Safe Bulkers, cash is fully aligned with our public shareholders. Management has adopted [inaudible] approach resulting in operational excellence. Company’s policies are consistent and well adapted to market conditions.On slide six we present average 40C [ph] Baltic cape and Baltic Panamax index. Capital market was challenging during the first half of 2012, affecting financial performance of main companies and asset values. Middle sized vessels such as Panamax and Kamsarmaxes have been trading relatively better than Cape sized vessels which were traded in the region of 8000. This is mainly due to the wider range of trading areas and transportable cargos of this class.
Safe Bulkers' CEO Discusses Q2 2012 Results - Earnings Call Transcript
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