Can you talk us through that in terms of how D'Amico see this in the market and what you think underlying tanker demand looks like?

Yeah, there are so many elements of disruption in this market currently, right? And it is usually unforeseen events, these types of disruptions, which lead to then great markets as we are seeing right now.

It started off, of course, in 22 with the war in Ukraine and the sanctions which were imposed in Russia and how that affected uh exports of Russian oil uh a large portion of which used to be sold to Europe so relatively short distances and was then redirected to much more distant locations and that in itself maybe contributed to an increase in demand between five and seven percent just the rerouting of this oil uh more recently of course uh the the the conflict in iran added another um layer of uh complication and disruption to the market uh very big disruption uh as the war started where vessels were not uh properly positioned and had to ballast in many cases very long legs to find cargoes, arbitrages, which completely changed.

We were seeing a lot of exports of NAFTA out of the US, Europe, into Asia, because of the lack of NAFTA, for example, coming out of the Middle East.

So there was this lack of vessels in the US Gulf, and we personally fixed some vessels on very long voyages at record rates.

And this disruption, of course, is still affecting the market very much.

There was some sort of rebalancing of the fleet, which occurred after the conflict started.

um but to to move us on maybe to talk a little bit more about that security side i think carlos you you touched on how difficult some of the things are at the moment and maybe can i ask a two-parter question here how has um how has uh the current situation changed how you think about resilience both as a business and also as a leader to start us off at least we'll go in the room