So, we have to assess not only the attractiveness of the drop-downs and of course, how we grow our distributable cash flow, but also how we fund these acquisitions. And I think this is what we’re going to think over the coming months and hopefully have more to share soon.
Omar Nokta: Thanks, Jerry. That’s a very, very deep dive. I appreciate that. And it sounds like, clearly, Capital Maritime as an organization has a pretty substantial size two-stroke LNG fleet and would be one of the biggest, right, publicly. As you think about that — and I don’t want to put words in your mouth, but it sounds like before making any sort of commitments on that front, you’re going to think further strategically about where CPLP is. You mentioned some of the unencumbered assets. Do you think that perhaps — could one of the options be monetizing the containership fleet over time and utilizing those proceeds for the investment in LNG?
Jerry Kalogiratos: Potentially, yes. I mean, we could — we sold the Cape Agamemnon. Of course, this is something that we have signaled for, for some time. And there is — and there is also very conscious move from our side over the last few years to modernize our fleet. I mean, it started with the spin-off of the older tankers, then selling some of our older containers in a very tight container market and bringing in brand-new containers and LNG Carriers. I think we will have to think — as you say exactly, this is what we need to think about the positioning and the strategy. I’m not sure if it is divesting, simply selling, for example, the containers, it might be more looking to how to structure transactions so that we can, if you want, unlock some of the value that we have been creating over the last few years.
I think we have been creative in the past from spin-offs to mergers to whatever we think it’s necessary to create more value for shareholders. And I think that’s something that we need to think about, but still quite early, I think.
Omar Nokta: Got it. Thanks for that, Jerry. And one just final one. You touched on this, just in terms of more kind of taking a step back and just thinking about the LNG charter market itself. You had a very — at this time last year, the spot rates were through the roof and — if I recall. And they had a pretty strong fall. And since then, they’ve been a bit volatile towards the downside, but that’s just a spot market. How would you characterize the term charter market here recently? It obviously has been very active for maybe at least two years or so. How has that sort of been moving here over the past couple of months? Is that still firm? Has there been any kind of impact from a softer spot market or lower LNG prices?
Jerry Kalogiratos: I think that apart from the seasonal softness that we see in the spot market and then kind of affects the shorter period curve, anywhere between one to three years. When you look at what has transpired in the long-term market, it has been increasingly at higher rates when I say long-term market, anywhere between 7 to 10 years. Over the last few months, we have seen FIDs for three new liquefaction terminals being granted. That’s more than 41 MTPA. And you — whatever multiplier you use, you still come up with anywhere between 70-plus new vessels that we will be requiring somewhere in the period of 2026, 2027. And then, you look at the order book, which always looks quite big, if you think in a nominal way, right?
