Mr. Kevin Oates, Head of Asia, Marine Money, Mr. Andrew Oates, Managing Director, Marine Money Asia Distinguished Guests, Ladies and Gentlemen, 1. Good evening. 2. A very warm welcome to the inaugural Marine Money Asia Deal of the Year Award Ceremony. 3. Let me begin by congratulating all our award recipients. Tonight’s awards recognise some of the most innovative and impactful transactions in maritime finance, and the exceptional judgment and ingenuity that made them possible. Marine Money Asia’s 25th Anniversary 4. Tonight’s inaugural ceremony is especially meaningful as it coincides with Marine Money Asia’s 25th anniversary. This is an opportunity to honour the achievements of a community that Marine Money has helped to build over a quarter of a century, here in Asia. 5. From Marine Money Singapore to Marine Money Asia, the conference has brought together financial institutions, maritime services firms and shipping companies to exchange ideas and build stronger connections. These connections have helped turn promising ideas into rewarding investments. Financing the shipping industry’s transformation 6. Looking ahead, as shipping transforms, ship financing will become more diverse and sophisticated. Shipowners today are making long-term investments in vessels that will operate for decades, even as fuel choices, regulations, and trade patterns evolve. 7. These uncertainties make it harder to assess a vessel’s future earnings and resale value, both of which are central to lending decisions. The challenge is to manage these risks while giving shipowners the capital to renew their fleets and the flexibility to adapt. 8. We have seen a wider range of capital providers entering the market to meet this challenge. Banks, leasing companies and investors are putting together innovative financing structures and drawing on more diverse funding sources. The transactions recognised tonight show how the ship finance sector continues to adapt and innovate. 9. Asia has an importan