Early in the second quarter the partnership completed a $162 million follow on equity offering which will be used to finance the equity for the purchase of several new building vessels, which are currently being warehoused at Teekay Parent. These include the Angola LNG carriers, one more multigas carrier and one LPG carrier that have been committed to be purchased from Teekay Parent upon their delivery in the next six months.Teekay Offshore declared a second quarter distribution of $0.50 per unit in line with the first quarter. In June, Teekay Offshore awarded a new, long-term shuttle tanker contract in Brazil which will result in time-charters for four shuttle tanker new buildings commencing upon their delivery in mid to late 2013. In July, Teekay Offshore completed a $20 million private equity placement which was used to make the initial payment on this shuttle tanker order. This is the first time TOO has directly ordered new buildings instead of asking Teekay Parent to warehouse them during the pre-delivery period. The positives of Teekay tanker tactical management were seen this quarter as Teekay Tankers declared a second quarter dividend of $0.21 per share despite continued weakness and spot tanker rates. Recently Teekay Tankers flexed its tactical management capabilities again to expand its fleet with two opportunistic charter ins which combined with charter outs of two owned vessels have locked in cash flows of approximately $3000 per day per vessel for the six and four month firm period of the charter ins. Should the market strengthen Teekay Tankers has the option to extend these charter ins for up to 18 and 16 months respectively. Taking these charters into account Teekay Tankers now has approximately 60% fixed rate coverage for the second half of 2011, enabling it to continue paying an attractive dividend irrespective of the weak spot tanker market while retaining the ability to profit from any upside in spot tanker rates which usually occurs as part of a seasonal pattern sometime in the fourth quarter.