Tom Lister: Sure. Well, I think the first point to make is that just because the vessel is old, it doesn’t make it a bad vessel quite to the contrary. I think we’ve been very careful about the vessels that we have selected to make sure that we’re selecting high-quality vessels high-specification vessels and particularly high reefer capacity vessels. So, we like to think that our vessels sit within the top quartile of specifications within their respective age groups. So we despite the fact that the market outlook is without a doubt quite challenging. At this stage, we remain confident of finding continued employment for our ships. And also we’ve been working quite hard in conjunction with our charterers particularly on ships that have continued employment ahead of them already contracted to upgrade and enhance those vessels to make them more energy efficient and more attractive within the market more commercially attractive and as a result more commercially valuable.
So, I don’t think that ship recycling is something that we’re thinking about actively at the moment.
Omar Nokta: Very good. Got it. Tom, thank you. Very helpful and George, thank you as well. I’ll turn it over.
Operator: Your next question comes from the line of Chris Robertson with Deutsche Bank. Your line is open.
Chris Robertson: Hey, good morning. Thanks for taking our questions. This is Chris on for Amit. I just wanted to circle back I guess on the current market for secondhand ships. If you guys to provide a bit more detail about as you’re looking at the landscape are there opportunities there for middle-aged vessels that are rolling off charters? Or are other ships a few years left of charters remaining attached to them? Or what’s kind of the current opportunity?
George Youroukos: Yes. Hi Chris. There are opportunities out there that we are looking continuously and evaluating, mainly we’re looking at ships with charters. So either remaining charters or ships from a liner company that would get a new charter from them. Of course as the market — as the value slide downwards, a deal that was yesterday, not a great deal, the sellers change their price ideas and tomorrow might be a good deal. So, this is an evolving situation with the deals that are out there. But there’s plenty of deals. It’s just that we have quite strict criteria in choosing the deals we want them to be accretive and to be accretive immediately to the company the cash flow. So we are evaluating them in this way. Maybe, Tom can add.
Tom Lister: Hi Chris. Actually no, I think George has given a very good summary. Not much that I can add to that really.
Chris Robertson: Okay. Yes. My second question is related to the deleveraging efforts. I mean you guys have done an incredible job here getting the leverage ratio down. I was wondering, if you could comment on the impact that’s had on the total cash breakeven level? And if you could just kind of go into detail about what that total cash breakeven level is at today.
Tassos Psaropoulos: It definitely helps the fact that we have reduced the cost of debt because the reality is that the fixed amortization is something which is not changing. What I mean is that, we are going to see a reduction of the breakeven levels when we have a total extension of the loans which if I remember correctly the first material at least will be in 2026.
Chris Robertson: Okay. Got it. I think that’s it for me. Thanks for taking the questions.
Operator: [Operator Instructions] Your next question comes from the line of Ward Blum with UBS. Your line is open. Ward, perhaps your line is on mute. Ward of UBS, your line is open for questions. Okay. This will conclude the question-and-answer session. I will turn the call back to Ian Webber for closing remarks.
Ian Webber: Thank you. Thanks everyone. Thanks for joining us and thank you for your questions. We look forward to providing you an update in early next year on full year 2023. thank you.
Operator: This concludes today’s conference call. We thank you for joining. You may now disconnect your lines.
