Financial Data and Key Metrics Changes - In Q4 2024, revenues were approximately $26,200,000, a decline of $3,500,000 compared to Q4 2023 due to lower market rates [16] - Operating income for Q4 2024 was close to $5,000,000, with net income at $3,900,000, impacted by a $3,300,000 foreign exchange loss [6][20] - For the full year 2024, net income reached about $50,200,000, with EBITDA at $59,200,000, corresponding to an earnings per share of $1.54 [21] Business Line Data and Key Metrics Changes - Operational utilization in Q4 2024 was strong at 86%, attributed to increased time charter coverage, which rose by 180% compared to Q4 2023 [5][6] - The fleet expanded to 12 vessels, with a focus on time charter employment, which accounted for 29% of fleet activity [6][7] Market Data and Key Metrics Changes - The tanker market experienced a decline in rates, with a year-on-year decrease of over 30% from multi-year highs, particularly in the second half of 2024 [9][10] - Crude and product tanker rates were positively affected by sanctions on the dark fleet in January 2025, although trade dynamics remain complex due to geopolitical factors [10][12] Company Strategy and Development Direction - The company aims to continue its fleet growth strategy while maintaining profitability and cash flow generation [24] - There is a focus on enhancing company value and capitalizing on market opportunities despite softer market conditions in 2024 [24] Management's Comments on Operating Environment and Future Outlook - Management noted that the second half of 2024 was softer than anticipated, with geopolitical tensions and mild winter impacting market conditions [4][5] - Looking ahead, oil demand is expected to grow steadily, driven by emerging economies and a recovery in Chinese oil demand, although short-term challenges may arise from currency fluctuations [10][11] Other Important Information - The company reported a cash base of approximately $27,000,000 and a debt-free balance sheet, with a 67% increase in available cash during 2024 [21][22] - The operational costs were managed effectively, with voyage costs down by 39% compared to Q4 2023 [18][20] Summary of Q&A Session - There was no question and answer session during the conference call, as all participants were in listen-only mode [1]