Gary Chapman: Yes. They reflect the tightening market, I think is the simple answer to that question. We have seen that gradually over the last few quarters in Brazil. We are not yet seeing that in the North Sea. But yes, they are, for sure, reflecting a tightening market with less available tonnage to customers.
Jim Altschul: It’s tightening in favor of KNOT Offshore Partners, is that what you mean?
Gary Chapman: Correct. Yes.
Jim Altschul: Okay. Next thing, over the next – in addition – after the – you completed these two drydockings, do you have any other drydockings anticipated schedule over the next 12 months?
Gary Chapman: The last drydock, the Ingrid might split into January of next year if it’s not depending on the exact timing of it. But leaving that aside, there are no drydock scheduled for 2024. And I think you should be able to see that on the Slide 9. We put the green boxes on each of the vessel charter timelines to show where the drydocks are. And if you look down the 2024 column, you will see that there are not in there. Like I said, the last couple of vessels may tumble a little bit for a few days into 2024, but really, we treat them as 2023 drydocks.
Jim Altschul: Okay. Excellent. Thank you very much.
Gary Chapman: No problem, Jim. Thanks for your kind words as well.
Operator: We have a follow-up question from Robert Silvera of R.E. Silvera and Associates. Robert, the line is yours.
Robert Silvera: Hi. Thank you for taking my follow-up, Gary. The previous call I have just talked to you about changing in the rates for new contracts now versus the old established contracts and you implied that things are getting better because of the tighter Brazilian marketplace at this point. Can you give us a feeling percentage-wise, are they 2%, 3% better, 10% better, 15%, what’s – how fast kind of thing do you see this going up and to what percentage extent in the near future, from what you see?
Gary Chapman: Robert on what you – it’s not quite as simple as to talk about percentage increases because obviously then you don’t have to sort of talk about from what date to what date and all charters are different or customers are different. And the discussions we have with each customer, every customer is in a different place in terms of their own operations and demands and volumes that they need to transport and numbers of cargoes and ton miles. So, there is a lot of variables that goes into it. And each discussion with each customer is pretty unique. So, yes, overall, for sure we have seen a robust strengthening of rates. It’s more than negligible, that’s for sure. But I think trying to give you percentages would be as misleading as us trying to give you precise numbers.
So, I think it’s – the message we are trying to give is that the market is materially tightening, were the beneficiaries of that. It may take some time to come through. We have long-term charters. So, yes, we have signed a couple of new charters as we have disclosed. And we have got one or two more, hopefully, in the pipeline. But obviously, the majority of our vessels today are operating on charters that have been agreed sometime in the past. So, we have to wait for things to work through a little bit as well. So, there is an extra complexity there when you add in the timeline. So, the simple answer to your question is that it’s a robust tightening for sure. But trying to put percentages or numbers on to that, I am afraid, is I am going to mislead somebody, I almost guarantee.
Robert Silvera: Okay. Well, I like the word robust. It’s got a good connotation and putting percentages on sounds like the U.S. Government who is trying to tell us what inflation we really are living with. And it all depends on whether you are dealing with gasoline, eggs or something else. So, thank you very much for that extra color on that. It gives me a stronger feeling that the market really is moving in a robust manner. Thanks Gary.
Gary Chapman: Thank you.
Operator: We have no further questions on the line, so I will hand back for closing remarks.
Gary Chapman: Yes. Thank you very much everybody. I appreciate the time you have spent today, and the questions, and I wish you all the best for the future. Thank you.
Operator: Thank you for joining. This concludes today’s call. You may now disconnect your lines.
