Welcome to the TBS International first quarter ended March 31, 2011 earnings conference call. We have with us Mr. Joseph Royce, Chairman, President and CEO; and Mr. Fred Lepere, Senior Executive Vice President and Chief Financial Officer of the company. (Operator Instructions) The conference call will also be webcast live, audio and slideshow on the Investor Relations section of the company's website, www.tbsship.com, by clicking on the webcast banner. I must advice you that this conference is being recorded today, Wednesday, May 11, 2011. I will now pass the floor to one of your speakers today, Mr. Fred Lepere. Fred Lepere Well, good morning and thank you for joining TBS International's quarterly conference call. The purpose of today's call is to discus the results of TBS' first quarter ended March 31, 2011. On Monday, May 9th, we issued a press release after the market closed in New York, with financial and operational information for the first quarter ended March 31, 2011. If you have not received this release, you may log on to our website at www.tbsship.com and navigate to the Investor Relations page or you can call Capital Link at area code 212-661-7566. We will also post the transcript of this call on our website once it's been prepared. Our remarks today will be followed by a question-and-answer session. For those of you, who want to follow our slide presentation, please go to the TBS website, which again is www.tbsship.com, and click on the webcast link. Note that the slides are user controlled. For those of you, who want to follow the webcast, please click on the arrow at the bottom of the webcast screen to make the slides turn. Also, please note that the webcast will be archived on our website.