<SEC-DOCUMENT>0000950157-20-000168.txt : 20200207
<SEC-HEADER>0000950157-20-000168.hdr.sgml : 20200207
<ACCEPTANCE-DATETIME>20200207160336
ACCESSION NUMBER:		0000950157-20-000168
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20200206
FILED AS OF DATE:		20200207
DATE AS OF CHANGE:		20200207

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DHT Holdings, Inc.
		CENTRAL INDEX KEY:			0001331284
		STANDARD INDUSTRIAL CLASSIFICATION:	DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			1T

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32640
		FILM NUMBER:		20587361

	BUSINESS ADDRESS:	
		STREET 1:		CLARENDON HOUSE
		STREET 2:		2 CHURCH STREET
		CITY:			HAMILTON
		STATE:			D0
		ZIP:			HM 11
		BUSINESS PHONE:		1 441 299-4912

	MAIL ADDRESS:	
		STREET 1:		CLARENDON HOUSE
		STREET 2:		2 CHURCH STREET
		CITY:			HAMILTON
		STATE:			D0
		ZIP:			HM 11

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DHT Maritime, Inc.
		DATE OF NAME CHANGE:	20080627

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Double Hull Tankers, Inc.
		DATE OF NAME CHANGE:	20050624
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>form6k.htm
<DESCRIPTION>REPORT OF FOREIGN PRIVATE ISSUER
<TEXT>
<html>
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    <div style="text-align: center; color: #000000; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; color: #000000; font-weight: bold;">Washington, D.C. 20549</div>
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      <hr style="background-color: #000000; border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px auto; height: 2px; width: 15%; color: #000000;" align="center" noshade="noshade"></div>
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    <div style="text-align: center; color: #000000; font-size: 18pt; font-weight: bold;">Form 6-K</div>
    <div><br>
    </div>
    <div style="text-align: center;">
      <hr style="background-color: #000000; border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px auto; height: 2px; width: 15%; color: #000000;" align="center" noshade="noshade"></div>
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    <div style="text-align: center; color: #000000; font-weight: bold;">Report of Foreign Private Issuer</div>
    <div style="text-align: center; color: #000000; font-weight: bold;">Pursuant to Rule 13a-16 or 15d-16 under</div>
    <div style="text-align: center; color: #000000; font-weight: bold;">the Securities Exchange Act of 1934</div>
    <div style="text-align: center; color: #000000; font-weight: bold;">For the month of February 2020</div>
    <div style="text-align: center; color: #000000; font-weight: bold;">Commission File Number 001-32640</div>
    <div><br>
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      <hr style="background-color: #000000; border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px auto; height: 2px; width: 15%; color: #000000;" align="center" noshade="noshade"></div>
    <div><br>
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    <div style="text-align: center; color: #000000; font-size: 24pt; font-weight: bold;">DHT HOLDINGS, INC.</div>
    <div style="text-align: center;">(Exact name of Registrant as specified in its charter)</div>
    <div><br>
    </div>
    <div style="text-align: center;">
      <hr style="height: 2px; width: 15%; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
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    <div style="text-align: center;">Clarendon House</div>
    <div style="text-align: center;">2 Church Street, Hamilton HM 11</div>
    <div style="text-align: center;">Bermuda</div>
    <div style="text-align: center;">(Address of principal executive offices)</div>
    <div><br>
    </div>
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      <hr style="height: 2px; width: 15%; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
    <div><br>
    </div>
    <div>Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.</div>
    <div><br>
    </div>
    <div style="text-align: center;">Form 20-F <font style="font-family: 'Segoe UI Symbol', sans-serif; color: #000000;">&#9745;</font> Form 40-F <font style="font-family: 'Segoe UI Symbol', sans-serif; color: #000000;">&#9744;</font></div>
    <div style="text-align: center; color: #000000;">&#160;</div>
    <div>Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): _____</div>
    <div><br>
    </div>
    <div>Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): _____</div>
    <div><br>
    </div>
    <div>
      <hr style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;" align="center"></div>
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    <div style="color: #000000;"> <br>
    </div>
    <div style="color: #000000;"><u>Press Releases</u></div>
    <div><br>
    </div>
    <div>The press release issued by DHT Holdings, Inc. (the <font style="color: #000000;">&#8220;</font>Company<font style="color: #000000;">&#8221;</font>) on February 5, 2020 related to its results for the fourth quarter of 2019 is attached hereto as Exhibit 99.1 and is incorporated herein by reference.</div>
    <div><br>
    </div>
    <div style="color: #000000;"><u>Incorporation by Reference</u></div>
    <div><br>
    </div>
    <div>Exhibit 99.1 to this Report on Form 6-K shall be incorporated by reference into the Company<font style="color: #000000;">&#8217;</font>s
      registration statements on Form F-3 (file Nos. 333-199697 and 333-219069), initially filed with the Securities and Exchange Commission on October 30, 2014 and June 30, 2017, respectively, as amended, in each case to the extent not superseded by
      information subsequently filed or furnished (to the extent the Company expressly states that it incorporates such furnished information by reference) by the Company under the Securities Act of 1933 or the Securities Exchange Act of 1934, in each case
      as amended.</div>
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    <div style="color: #000000; font-weight: bold;">EXHIBIT LIST</div>
    <div><br>
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            <div style="color: #000000; font-weight: bold;">Exhibit</div>
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          <td style="width: 2%; vertical-align: bottom;">&#160;</td>
          <td style="width: 88%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="color: #000000; font-weight: bold;">Description</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">&#160;</td>
          <td style="width: 2%; vertical-align: bottom;">&#160;</td>
          <td style="width: 88%; vertical-align: top;">&#160;</td>
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        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div>99.1</div>
          </td>
          <td style="width: 2%; vertical-align: bottom;">&#160;</td>
          <td style="width: 88%; vertical-align: top;">
            <div>Press Release dated February 5, 2020</div>
          </td>
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    <div style="color: rgb(0, 0, 0); font-weight: normal;"> <br>
    </div>
    <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">SIGNATURES</div>
    <div><br>
    </div>
    <div>Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto
      duly authorized.</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z172a8ebac88448e1bba59e1937164b88" border="0" cellpadding="0" cellspacing="0">

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          <td style="width: 48.02%; vertical-align: top;">&#160;</td>
          <td style="width: 4.06%; vertical-align: top;">&#160;</td>
          <td colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div>DHT Holdings, Inc.</div>
          </td>
          <td style="width: 11.45%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 48.02%; vertical-align: top;">&#160;</td>
          <td style="width: 4.06%; vertical-align: top;">&#160;</td>
          <td colspan="2" style="vertical-align: top;">
            <div>(Registrant)</div>
          </td>
          <td style="width: 11.45%; vertical-align: top;">&#160;</td>
        </tr>
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          <td style="width: 48.02%; vertical-align: top;">&#160;</td>
          <td style="width: 4.06%; vertical-align: top;">&#160;</td>
          <td colspan="2" style="vertical-align: top;">&#160;</td>
          <td style="width: 11.45%; vertical-align: top;">&#160;</td>
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          <td style="width: 48.02%; vertical-align: top;">
            <div>Date: February 7, 2020</div>
          </td>
          <td style="width: 4.06%; vertical-align: top;">
            <div>By:</div>
          </td>
          <td colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div>/s/ Laila C. Halvorsen</div>
          </td>
          <td style="width: 11.45%; vertical-align: top;">&#160;</td>
        </tr>
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          <td style="width: 48.02%; vertical-align: top;">&#160;</td>
          <td style="width: 4.06%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: bottom;">
            <div>Name:</div>
          </td>
          <td style="width: 29.99%; vertical-align: bottom;">
            <div>Laila C. Halvorsen</div>
          </td>
          <td style="width: 11.45%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 48.02%; vertical-align: top;">&#160;</td>
          <td style="width: 4.06%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">
            <div>Title:</div>
          </td>
          <td style="width: 29.99%; vertical-align: top;">
            <div>Chief Financial Officer</div>
          </td>
          <td style="width: 11.45%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 48.02%; vertical-align: top;">&#160;</td>
          <td style="width: 4.06%; vertical-align: top;">&#160;</td>
          <td colspan="2" style="vertical-align: top;">&#160;</td>
          <td style="width: 11.45%; vertical-align: top;">&#160;</td>
        </tr>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex99-1.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
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  <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Exhibit 99.1</font><br>
  </div>
  <div><font style="font-family: Arial; font-weight: bold;"><br>
    </font></div>
  <div><img src="image01.jpg">
    <div><br>
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    <div style="text-align: center;"><font style="font-family: Arial;"><font style="font-weight: bold; font-size: 16pt;">DHT Holdings, Inc. Fourth Quarter 2019 Results</font><br>
      </font> </div>
    <div> <font style="font-family: Arial;"><br>
      </font></div>
    <font style="font-family: Arial;"><br>
    </font>
    <div><font style="font-family: Arial;">HAMILTON, BERMUDA, February 5, 2020 &#8211; DHT Holdings, Inc. (NYSE:DHT) (&#8220;DHT&#8221; or the &#8220;Company&#8221;) today announced:</font></div>
    <div> <font style="font-family: Arial;"><br>
      </font></div>
    <div><font style="font-family: Arial; font-weight: bold;">FINANCIAL AND OPERATIONAL HIGHLIGHTS:</font><font style="font-family: Arial;"><br>
      </font></div>
    <div>
      <div style="LINE-HEIGHT: 11.4pt"><br style="LINE-HEIGHT: 11.4pt">
      </div>
      <table id="zfa995faec9c544488f9a2404f33f382a" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%; BORDER-COLLAPSE: collapse" border="0" cellpadding="2" cellspacing="0">

          <tr style="HEIGHT: 20px">
            <td style="background-color: rgb(219, 219, 219); border-width: 2px; border-style: solid; border-color: rgb(128, 128, 128); vertical-align: middle; width: 24%;">
              <div style="color: rgb(0, 0, 0); text-align: left; line-height: 10.25pt; font-weight: bold; font-style: normal; font-variant: normal; text-transform: none;">USD mill. (except per share)</div>
            </td>
            <td style="background-color: rgb(219, 219, 219); border-width: 3px 3px 2px; border-style: solid; border-color: rgb(53, 152, 138) rgb(53, 152, 138) rgb(128, 128, 128); vertical-align: middle; width: 10.7%;">
              <div style="font-weight: bold; color: rgb(0, 0, 0); text-align: right; line-height: 10.25pt; font-style: normal; font-variant: normal; text-transform: none;">Q4 2019</div>
            </td>
            <td style="background-color: rgb(219, 219, 219); border-width: 2px; border-style: solid none solid solid; border-color: rgb(128, 128, 128); vertical-align: middle; width: 10.67%;">
              <div style="font-weight: bold; color: rgb(0, 0, 0); text-align: right; line-height: 10.25pt; font-style: normal; font-variant: normal; text-transform: none;">Q3 2019</div>
            </td>
            <td style="background-color: rgb(219, 219, 219); border-width: 2px; border-style: solid; border-color: rgb(128, 128, 128); vertical-align: middle; width: 9.6%;">
              <div style="font-weight: bold; color: rgb(0, 0, 0); text-align: right; line-height: 10.25pt; font-style: normal; font-variant: normal; text-transform: none;">Q2 2019</div>
            </td>
            <td style="background-color: rgb(219, 219, 219); border-width: 2px; border-style: solid; border-color: rgb(128, 128, 128); vertical-align: top; width: 10.67%;">
              <div style="font-weight: bold; color: rgb(0, 0, 0); text-align: right; line-height: 10.25pt; font-style: normal; font-variant: normal; text-transform: none;">Q1 2019</div>
            </td>
            <td style="background-color: rgb(219, 219, 219); border-width: 2px; border-style: solid; border-color: rgb(128, 128, 128); vertical-align: middle; width: 10.67%;">
              <div style="font-weight: bold; color: rgb(0, 0, 0); text-align: right; line-height: 10.25pt; font-style: normal; font-variant: normal; text-transform: none;">Q4 2018</div>
            </td>
            <td style="background-color: rgb(219, 219, 219); border-width: 2px; border-style: solid; border-color: rgb(128, 128, 128); vertical-align: middle; width: 10.68%;">
              <div style="font-weight: bold; color: rgb(0, 0, 0); text-align: right; line-height: 10.25pt; font-style: normal; font-variant: normal; text-transform: none;">2019</div>
            </td>
            <td style="background-color: rgb(219, 219, 219); border-width: 2px; border-style: solid; border-color: rgb(128, 128, 128); vertical-align: middle; width: 10.68%;">
              <div style="font-weight: bold; color: rgb(0, 0, 0); text-align: right; line-height: 10.25pt; font-style: normal; font-variant: normal; text-transform: none;">2018</div>
            </td>
          </tr>
          <tr>
            <td rowspan="1" style="BORDER-RIGHT: #359b8a 2px solid; WIDTH: 24%; VERTICAL-ALIGN: middle; BORDER-LEFT: #808080 2px solid; BACKGROUND-COLOR: #d9d9d9">Shipping revenue <br>
            </td>
            <td rowspan="1" style="border-left: 3px solid #35988A; border-right: 3px solid #35988A; vertical-align: middle; width: 10.7%; font-weight: bold; text-align: right;">&#160;191.8</td>
            <td rowspan="1" style="width: 10.67%; vertical-align: middle; border-left: 2px solid rgb(53, 155, 138); text-align: right;">&#160;104.7</td>
            <td rowspan="1" style="border-right: 2px solid rgb(128, 128, 128); width: 9.6%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">&#160;106.2</td>
            <td rowspan="1" style="border-right: 2px solid rgb(128, 128, 128); width: 10.67%; vertical-align: top; border-left: 2px solid rgb(128, 128, 128); text-align: right;">&#160;132.3</td>
            <td rowspan="1" style="border-right: 2px solid rgb(128, 128, 128); width: 10.67%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">138.6<br>
            </td>
            <td rowspan="1" style="border-right: 2px solid rgb(128, 128, 128); width: 10.68%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">535.1<br>
            </td>
            <td rowspan="1" style="border-right: 2px solid rgb(128, 128, 128); width: 10.68%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">375.9<br>
            </td>
          </tr>
          <tr>
            <td style="BORDER-RIGHT: #359b8a 2px solid; WIDTH: 24%; VERTICAL-ALIGN: middle; BORDER-LEFT: #808080 2px solid; BACKGROUND-COLOR: #d9d9d9">
              <div style="color: rgb(0, 0, 0); text-align: left; line-height: 10.25pt;">Adjusted net revenue<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup></div>
            </td>
            <td style="border-left: 3px solid #35988A; border-right: 3px solid #35988A; vertical-align: middle; width: 10.7%; text-align: right;"><font style="font-weight: bold;">141.7</font><br>
            </td>
            <td style="width: 10.67%; vertical-align: middle; border-left: 2px solid rgb(53, 155, 138); text-align: right;">58.9<br>
            </td>
            <td style="border-right: 2px solid rgb(128, 128, 128); width: 9.6%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">61.2<br>
            </td>
            <td style="border-right: 2px solid rgb(128, 128, 128); width: 10.67%; vertical-align: top; border-left: 2px solid rgb(128, 128, 128); text-align: right;">85.8<br>
            </td>
            <td style="border-right: 2px solid rgb(128, 128, 128); width: 10.67%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">85.2<br>
            </td>
            <td style="border-right: 2px solid rgb(128, 128, 128); width: 10.68%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">347.6<br>
            </td>
            <td style="border-right: 2px solid rgb(128, 128, 128); width: 10.68%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">214.8<br>
            </td>
          </tr>
          <tr>
            <td style="BORDER-RIGHT: #359b8a 2px solid; WIDTH: 24%; VERTICAL-ALIGN: middle; BORDER-LEFT: #808080 2px solid; BACKGROUND-COLOR: #d9d9d9">
              <div style="color: rgb(0, 0, 0); text-align: left; line-height: 10.25pt;">Adjusted EBITDA<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup></div>
            </td>
            <td style="border-left: 3px solid #35988A; border-right: 3px solid #35988A; vertical-align: middle; width: 10.7%; font-weight: bold; text-align: right;">116.3<br>
            </td>
            <td style="width: 10.67%; vertical-align: middle; border-left: 2px solid rgb(53, 155, 138); text-align: right;">36.0<br>
            </td>
            <td style="border-right: 2px solid rgb(128, 128, 128); width: 9.6%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">38.0<br>
            </td>
            <td style="border-right: 2px solid rgb(128, 128, 128); width: 10.67%; vertical-align: top; border-left: 2px solid rgb(128, 128, 128); text-align: right;">64.2<br>
            </td>
            <td style="border-right: 2px solid rgb(128, 128, 128); width: 10.67%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">61.3<br>
            </td>
            <td style="border-right: 2px solid rgb(128, 128, 128); width: 10.68%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">254.5<br>
            </td>
            <td style="border-right: 2px solid rgb(128, 128, 128); width: 10.68%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">123.2<br>
            </td>
          </tr>
          <tr>
            <td style="BORDER-RIGHT: #359b8a 2px solid; WIDTH: 24%; VERTICAL-ALIGN: middle; BORDER-LEFT: #808080 2px solid; BACKGROUND-COLOR: #d9d9d9">
              <div style="color: #000000; text-align: left; line-height: 10.25pt;">Net income/(loss) after tax<br>
              </div>
            </td>
            <td style="border-left: 3px solid #35988A; border-right: 3px solid #35988A; vertical-align: middle; width: 10.7%; font-weight: bold; text-align: right;">75.9<br>
            </td>
            <td style="width: 10.67%; vertical-align: middle; border-left: 2px solid rgb(53, 155, 138); text-align: right;">(9.4)<br>
            </td>
            <td style="border-right: 2px solid rgb(128, 128, 128); width: 9.6%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">(10.5)<br>
            </td>
            <td style="border-right: 2px solid rgb(128, 128, 128); width: 10.67%; vertical-align: top; border-left: 2px solid rgb(128, 128, 128); text-align: right;">17.7<br>
            </td>
            <td style="border-right: 2px solid rgb(128, 128, 128); width: 10.67%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">12.0<br>
            </td>
            <td style="border-right: 2px solid rgb(128, 128, 128); width: 10.68%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">73.7<br>
            </td>
            <td style="border-right: 2px solid rgb(128, 128, 128); width: 10.68%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">(46.9)<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup><br>
            </td>
          </tr>
          <tr>
            <td style="BORDER-RIGHT: #359b8a 2px solid; WIDTH: 24%; VERTICAL-ALIGN: middle; BORDER-LEFT: #808080 2px solid; BACKGROUND-COLOR: #d9d9d9">
              <div style="color: rgb(0, 0, 0); text-align: left; line-height: 10.25pt;">EPS - basic</div>
            </td>
            <td style="border-left: 3px solid #35988A; border-right: 3px solid #35988A; vertical-align: middle; width: 10.7%; font-weight: bold; text-align: right;">0.52<br>
            </td>
            <td style="width: 10.67%; vertical-align: middle; border-left: 2px solid rgb(53, 155, 138); text-align: right;">(0.07)<br>
            </td>
            <td style="border-right: 2px solid rgb(128, 128, 128); width: 9.6%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">(0.07)<br>
            </td>
            <td style="border-right: 2px solid rgb(128, 128, 128); width: 10.67%; vertical-align: top; border-left: 2px solid rgb(128, 128, 128); text-align: right;">0.12<br>
            </td>
            <td style="border-right: 2px solid rgb(128, 128, 128); width: 10.67%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">0.08<br>
            </td>
            <td style="border-right: 2px solid rgb(128, 128, 128); width: 10.68%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">0.51<br>
            </td>
            <td style="border-right: 2px solid rgb(128, 128, 128); width: 10.68%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">(0.33)<br>
            </td>
          </tr>
          <tr>
            <td style="BORDER-RIGHT: #359b8a 2px solid; WIDTH: 24%; VERTICAL-ALIGN: middle; BORDER-LEFT: #808080 2px solid; BACKGROUND-COLOR: #d9d9d9">
              <div style="text-align: left; line-height: 10.25pt;"><font style="color: rgb(0, 0, 0);">EPS - diluted</font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">4</sup></div>
            </td>
            <td style="border-left: 3px solid #35988A; border-right: 3px solid #35988A; vertical-align: middle; width: 10.7%; font-weight: bold; text-align: right;">0.47<br>
            </td>
            <td style="width: 10.67%; vertical-align: middle; border-left: 2px solid rgb(53, 155, 138); text-align: right;">(0.07)<br>
            </td>
            <td style="border-right: 2px solid rgb(128, 128, 128); width: 9.6%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">(0.07)<br>
            </td>
            <td style="border-right: 2px solid rgb(128, 128, 128); width: 10.67%; vertical-align: top; border-left: 2px solid rgb(128, 128, 128); text-align: right;">0.12<br>
            </td>
            <td style="border-right: 2px solid rgb(128, 128, 128); width: 10.67%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">0.08<br>
            </td>
            <td style="border-right: 2px solid rgb(128, 128, 128); width: 10.68%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">0.51</td>
            <td style="border-right: 2px solid rgb(128, 128, 128); width: 10.68%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">(0.33)</td>
          </tr>
          <tr>
            <td rowspan="1" style="BORDER-RIGHT: #359b8a 2px solid; WIDTH: 24%; VERTICAL-ALIGN: middle; BORDER-LEFT: #808080 2px solid; BACKGROUND-COLOR: #d9d9d9">Dividend<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">5</sup><br>
            </td>
            <td rowspan="1" style="border-bottom: 2px none #808080; border-left: 3px solid #35988A; border-right: 3px solid #35988A; vertical-align: middle; width: 10.7%; font-weight: bold; text-align: right;">0.32 <br>
            </td>
            <td rowspan="1" style="width: 10.67%; vertical-align: middle; border-left: 2px solid rgb(53, 155, 138); text-align: right;">0.05 <br>
            </td>
            <td rowspan="1" style="border-right: 2px solid rgb(128, 128, 128); width: 9.6%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">&#160;0.02</td>
            <td rowspan="1" style="border-right: 2px solid rgb(128, 128, 128); width: 10.67%; vertical-align: top; border-left: 2px solid rgb(128, 128, 128); text-align: right;">&#160;0.08</td>
            <td rowspan="1" style="border-right: 2px solid rgb(128, 128, 128); width: 10.67%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">&#160;0.05</td>
            <td rowspan="1" style="border-right: 2px solid rgb(128, 128, 128); width: 10.68%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">&#160;0.47</td>
            <td rowspan="1" style="border-right: 2px solid rgb(128, 128, 128); width: 10.68%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">&#160;0.11</td>
          </tr>
          <tr style="HEIGHT: 17px">
            <td style="BORDER-TOP: #808080 2px solid; BORDER-RIGHT: #359b8a 2px solid; WIDTH: 24%; VERTICAL-ALIGN: middle; BORDER-LEFT: #808080 2px solid; BACKGROUND-COLOR: #d9d9d9">
              <div style="color: rgb(0, 0, 0); text-align: left; line-height: 10.25pt;">Interest bearing debt</div>
            </td>
            <td style="border-left: 3px solid #35988A; border-right: 3px solid #35988A; border-top: 2px solid #808080; vertical-align: middle; width: 10.7%; font-weight: bold; text-align: right;">851.0<br>
            </td>
            <td style="border-top: 2px solid rgb(128, 128, 128); width: 10.67%; vertical-align: middle; border-left: 2px solid rgb(53, 155, 138); text-align: right;">945.9<br>
            </td>
            <td style="border-top: 2px solid rgb(128, 128, 128); border-right: 2px solid rgb(128, 128, 128); width: 9.6%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">904.2<br>
            </td>
            <td style="border-top: 2px solid rgb(128, 128, 128); border-right: 2px solid rgb(128, 128, 128); width: 10.67%; vertical-align: top; border-left: 2px solid rgb(128, 128, 128); text-align: right;">918.9<br>
            </td>
            <td style="border-top: 2px solid rgb(128, 128, 128); border-right: 2px solid rgb(128, 128, 128); width: 10.67%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">967.3<br>
            </td>
            <td style="border-top: 2px solid rgb(128, 128, 128); border-right: 2px solid rgb(128, 128, 128); width: 10.68%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">851.0<br>
            </td>
            <td style="border-top: 2px solid rgb(128, 128, 128); border-right: 2px solid rgb(128, 128, 128); width: 10.68%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">967.3<br>
            </td>
          </tr>
          <tr>
            <td style="BORDER-RIGHT: #359b8a 2px solid; WIDTH: 24%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #808080 2px solid; BORDER-LEFT: #808080 2px solid; BACKGROUND-COLOR: #d9d9d9"> Cash<br>
            </td>
            <td style="border-bottom: 2px solid #808080; border-left: 3px solid #35988A; border-right: 3px solid #35988A; vertical-align: middle; width: 10.7%; font-weight: bold; text-align: right;">67.4<br>
            </td>
            <td style="width: 10.67%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); border-left: 2px solid rgb(53, 155, 138); text-align: right;">115.4<br>
            </td>
            <td style="border-right: 2px solid rgb(128, 128, 128); width: 9.6%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); border-left: 2px solid rgb(128, 128, 128); text-align: right;">71.0<br>
            </td>
            <td style="border-right: 2px solid rgb(128, 128, 128); width: 10.67%; vertical-align: top; border-bottom: 2px solid rgb(128, 128, 128); border-left: 2px solid rgb(128, 128, 128); text-align: right;">69.3<br>
            </td>
            <td style="border-right: 2px solid rgb(128, 128, 128); width: 10.67%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); border-left: 2px solid rgb(128, 128, 128); text-align: right;">94.9<br>
            </td>
            <td style="border-right: 2px solid rgb(128, 128, 128); width: 10.68%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); border-left: 2px solid rgb(128, 128, 128); text-align: right;">67.4<br>
            </td>
            <td style="border-right: 2px solid rgb(128, 128, 128); width: 10.68%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); border-left: 2px solid rgb(128, 128, 128); text-align: right;">94.9<br>
            </td>
          </tr>
          <tr>
            <td style="BORDER-RIGHT: #359b8a 2px solid; WIDTH: 24%; VERTICAL-ALIGN: middle; BORDER-LEFT: #808080 2px solid; BACKGROUND-COLOR: #d9d9d9"> Operating days<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">6</sup><br>
            </td>
            <td style="border-left: 3px solid #35988A; border-right: 3px solid #35988A; border-top: 2px solid #808080; vertical-align: middle; width: 10.7%; font-weight: bold; text-align: right;">2,484.0<br>
            </td>
            <td style="width: 10.67%; vertical-align: middle; border-left: 2px solid rgb(53, 155, 138); text-align: right;">2,484.0<br>
            </td>
            <td style="border-right: 2px solid rgb(128, 128, 128); width: 9.6%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">2,457.0<br>
            </td>
            <td style="border-right: 2px solid rgb(128, 128, 128); width: 10.67%; vertical-align: top; border-left: 2px solid rgb(128, 128, 128); text-align: right;">2,430.0<br>
            </td>
            <td style="border-right: 2px solid rgb(128, 128, 128); width: 10.67%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">2,629.2<br>
            </td>
            <td style="border-right: 2px solid rgb(128, 128, 128); width: 10.68%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">9,855.0<br>
            </td>
            <td style="border-right: 2px solid rgb(128, 128, 128); width: 10.68%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">9,810.7<br>
            </td>
          </tr>
          <tr>
            <td rowspan="1" style="border-right: 2px solid rgb(53, 155, 138); width: 24%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); background-color: rgb(217, 217, 217);">Scheduled off hire days<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"><br>
              </sup></td>
            <td rowspan="1" style="border-left: 3px solid #35988A; border-right: 3px solid #35988A; vertical-align: middle; width: 10.7%; font-weight: bold; text-align: right;">&#160;55.0</td>
            <td rowspan="1" style="width: 10.67%; vertical-align: middle; border-left: 2px solid rgb(53, 155, 138); text-align: right;">&#160;157.0</td>
            <td rowspan="1" style="border-right: 2px solid rgb(128, 128, 128); width: 9.6%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">&#160;140.7</td>
            <td rowspan="1" style="border-right: 2px solid rgb(128, 128, 128); width: 10.67%; vertical-align: top; border-left: 2px solid rgb(128, 128, 128); text-align: right;">&#160;0.0</td>
            <td rowspan="1" style="border-right: 2px solid rgb(128, 128, 128); width: 10.67%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">&#160;79.1</td>
            <td rowspan="1" style="border-right: 2px solid rgb(128, 128, 128); width: 10.68%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">&#160;352.6</td>
            <td rowspan="1" style="border-right: 2px solid rgb(128, 128, 128); width: 10.68%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">&#160;95.2</td>
          </tr>
          <tr>
            <td rowspan="1" style="BORDER-RIGHT: #359b8a 2px solid; WIDTH: 24%; VERTICAL-ALIGN: middle; BORDER-LEFT: #808080 2px solid; BACKGROUND-COLOR: #d9d9d9">Unscheduled off hire days<br>
            </td>
            <td rowspan="1" style="border-left: 3px solid #35988A; border-right: 3px solid #35988A; vertical-align: middle; width: 10.7%; font-weight: bold; text-align: right;">&#160;5.5</td>
            <td rowspan="1" style="width: 10.67%; vertical-align: middle; border-left: 2px solid rgb(53, 155, 138); text-align: right;">&#160;13.0</td>
            <td rowspan="1" style="border-right: 2px solid rgb(128, 128, 128); width: 9.6%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">&#160;3.4</td>
            <td rowspan="1" style="border-right: 2px solid rgb(128, 128, 128); width: 10.67%; vertical-align: top; border-left: 2px solid rgb(128, 128, 128); text-align: right;">&#160;12.0</td>
            <td rowspan="1" style="border-right: 2px solid rgb(128, 128, 128); width: 10.67%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">&#160;2.8</td>
            <td rowspan="1" style="border-right: 2px solid rgb(128, 128, 128); width: 10.68%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">&#160;33.9</td>
            <td rowspan="1" style="border-right: 2px solid rgb(128, 128, 128); width: 10.68%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">&#160;9.6</td>
          </tr>
          <tr>
            <td rowspan="1" style="BORDER-RIGHT: #359b8a 2px solid; WIDTH: 24%; VERTICAL-ALIGN: middle; BORDER-LEFT: #808080 2px solid; BACKGROUND-COLOR: #d9d9d9">Revenue days<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">7</sup><br>
            </td>
            <td rowspan="1" style="border-left: 3px solid #35988A; border-right: 3px solid #35988A; vertical-align: middle; width: 10.7%; font-weight: bold; text-align: right;">&#160;2,423.5</td>
            <td rowspan="1" style="width: 10.67%; vertical-align: middle; border-left: 2px solid rgb(53, 155, 138); text-align: right;">&#160;2,314.0</td>
            <td rowspan="1" style="border-right: 2px solid rgb(128, 128, 128); width: 9.6%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">&#160;2,312.9</td>
            <td rowspan="1" style="border-right: 2px solid rgb(128, 128, 128); width: 10.67%; vertical-align: top; border-left: 2px solid rgb(128, 128, 128); text-align: right;">&#160;2,418.0</td>
            <td rowspan="1" style="border-right: 2px solid rgb(128, 128, 128); width: 10.67%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">&#160;2,547.3</td>
            <td rowspan="1" style="border-right: 2px solid rgb(128, 128, 128); width: 10.68%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">&#160;9,468.5</td>
            <td rowspan="1" style="border-right: 2px solid rgb(128, 128, 128); width: 10.68%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); text-align: right;">&#160;9,705.9</td>
          </tr>
          <tr>
            <td style="BORDER-RIGHT: #359b8a 2px solid; WIDTH: 24%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #808080 2px solid; BORDER-LEFT: #808080 2px solid; BACKGROUND-COLOR: #d9d9d9">
              <div style="color: rgb(0, 0, 0); text-align: left; line-height: 10.25pt;">Spot exposure<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">8</sup></div>
            </td>
            <td style="border-bottom: 3px solid #35988A; border-left: 3px solid #35988A; border-right: 3px solid #35988A; vertical-align: middle; width: 10.7%; font-weight: bold; text-align: right;">81.5%<br>
            </td>
            <td style="width: 10.67%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); border-left: 2px solid rgb(53, 155, 138); text-align: right;">82.2%<br>
            </td>
            <td style="border-right: 2px solid rgb(128, 128, 128); width: 9.6%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); border-left: 2px solid rgb(128, 128, 128); text-align: right;">85.2%<br>
            </td>
            <td style="border-right: 2px solid rgb(128, 128, 128); width: 10.67%; vertical-align: top; border-bottom: 2px solid rgb(128, 128, 128); border-left: 2px solid rgb(128, 128, 128); text-align: right;">83.5%<br>
            </td>
            <td style="border-right: 2px solid rgb(128, 128, 128); width: 10.67%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); border-left: 2px solid rgb(128, 128, 128); text-align: right;">78.8%<br>
            </td>
            <td style="border-right: 2px solid rgb(128, 128, 128); width: 10.68%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); border-left: 2px solid rgb(128, 128, 128); text-align: right;">83.1%<br>
            </td>
            <td style="border-right: 2px solid rgb(128, 128, 128); width: 10.68%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); border-left: 2px solid rgb(128, 128, 128); text-align: right;">73.2%<br>
            </td>
          </tr>

      </table>
      <div style="LINE-HEIGHT: 11.4pt"><br style="LINE-HEIGHT: 11.4pt">
      </div>
      <div style="LINE-HEIGHT: 11.4pt">
        <div><br>
        </div>
        <div>
          <div style="text-align: justify; font-family: Arial; font-weight: bold;">HIGHLIGHTS:</div>
          <div><br>
          </div>
          <div style="text-align: justify; font-family: Arial; font-style: italic; font-weight: bold;">DHT made $75.9 million in net income for the fourth quarter &#8211; the highest quarterly result in the company&#8217;s 15-year history</div>
          <div><br>
          </div>
          <div>
            <div><br>
            </div>
            <div style="text-align: justify;">
              <div>
                <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" cellpadding="0" cellspacing="0">

                    <tr>
                      <td style="width: 18pt; vertical-align: top; font-family: Arial;"><font style="font-family: Times New Roman;">&#9679;</font></td>
                      <td style="width: auto; vertical-align: top; text-align: justify;">
                        <div style="color: rgb(0, 0, 0); font-family: Arial;">Adjusted EBITDA for the quarter of $116.3 million. The net income of $75.9 million equates to $0.52 per basic share.</div>
                      </td>
                    </tr>

                </table>
              </div>
            </div>
            <div><br>
            </div>
          </div>
          <div style="text-align: justify;">
            <div>
              <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z28ffa620e3784b4d93a3047cc5f899dd" cellpadding="0" cellspacing="0">

                  <tr>
                    <td style="width: 18pt; vertical-align: top; font-family: Arial;"><font style="font-family: Times New Roman;">&#9679;</font></td>
                    <td style="width: auto; vertical-align: top; text-align: justify;">
                      <div style="color: rgb(0, 0, 0); font-family: Arial;">In the fourth quarter of 2019 the Company&#8217;s VLCCs operating in the spot market achieved $59,200 per day and the Company&#8217;s VLCCs on time-charter earned $54,600 per day achieving
                        combined time charter equivalent earnings for the Company&#8217;s VLCCs of $58,500 per day. The result for the Company&#8217;s VLCCs operating in the spot market adjusted for the IFRS 15 impact was $63,900 per day for the fourth quarter of
                        2019.</div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify;">
            <div>
              <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" cellpadding="0" cellspacing="0">

                  <tr>
                    <td style="width: 18pt; vertical-align: top; font-family: Arial;"><font style="font-family: Times New Roman;">&#9679;</font></td>
                    <td style="width: auto; vertical-align: top; text-align: justify;">
                      <div style="color: rgb(0, 0, 0); font-family: Arial;">Thus far in the first quarter of 2020, 58% of the available VLCC spot days have been booked at an average rate of $81,600 per day on a discharge to discharge basis.</div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
          <div><br>
          </div>
        </div>
        <br>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: Arial; font-size: 8pt; font-weight: normal; font-style: normal;">1</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;" noshade="noshade"></div>
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        <div><br>
        </div>
        <div>
          <div>
            <div>
              <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z32dcb52986404668bec5205110e913eb" cellpadding="0" cellspacing="0">

                  <tr>
                    <td style="width: 18pt; vertical-align: top; font-family: Arial;"><font style="font-family: Times New Roman;">&#9679;</font></td>
                    <td style="width: auto; vertical-align: top;">
                      <div style="font-family: Arial; text-align: justify;">All of the scheduled off hire days in the quarter were related to the scrubber retrofit project. The Company now has 12 vessels with scrubbers, while six vessels have been
                        postponed due to the strong market conditions. As of December 31, 2019, the Company has paid $47.7 million related to the scrubber retrofit project, with an average of 37.2 days in yard.</div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
          <div><br>
          </div>
          <div>
            <div>
              <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zfb9684e411d7464eb32597e9928190c1" cellpadding="0" cellspacing="0">

                  <tr>
                    <td style="width: 18pt; vertical-align: top; font-family: Arial;"><font style="font-family: Times New Roman;">&#9679;</font></td>
                    <td style="width: auto; vertical-align: top;">
                      <div style="font-family: Arial; text-align: justify;">The Company has to date made 15 bunkerings of HFO for its scrubber fitted vessels with a total saving of $14.6 million compared to if it had bunkered compliant fuel. The average
                        spread between VLSFO and HFO for the 15 bunkerings is $304 per mt.</div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
          <div><br>
          </div>
          <div>
            <div>
              <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z02cb10c84e024d8591b683ecb9573fb8" cellpadding="0" cellspacing="0">

                  <tr>
                    <td style="width: 18pt; vertical-align: top; font-family: Arial;"><font style="font-family: Times New Roman;">&#9679;</font></td>
                    <td style="width: auto; vertical-align: top;">
                      <div style="font-family: Arial; text-align: justify;">On October 1, 2019, the Company announced that holders of $26,434,000 in aggregate principal amount of the Company&#8217;s 4.5% Convertible Senior Notes due October 1, 2019 exercised
                        their right to convert their notes into shares of the Company&#8217;s common stock. The Company issued 4,389,858 shares and the remaining $6,426,000 in aggregate principal amount was repaid in cash.</div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
          <div><br>
          </div>
          <div>
            <div>
              <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z39c947832574403b9cf43076c57f7ff8" cellpadding="0" cellspacing="0">

                  <tr>
                    <td style="width: 18pt; vertical-align: top; font-family: Arial;"><font style="font-family: Times New Roman;">&#9679;</font></td>
                    <td style="width: auto; vertical-align: top;">
                      <div style="font-family: Arial; text-align: justify;">In November 2019, the Company prepaid the outstanding amounts on DHT Lake and DHT Raven under the Nordea Credit Facility, totaling $22.3 million.</div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
          <div><br>
          </div>
          <div>
            <div>
              <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z474fdc5aebd34bba964708f45bb10bc5" cellpadding="0" cellspacing="0">

                  <tr>
                    <td style="width: 18pt; vertical-align: top; font-family: Arial;"><font style="font-family: Times New Roman;">&#9679;</font></td>
                    <td style="width: auto; vertical-align: top;">
                      <div style="font-family: Arial; text-align: justify;">As of December 31, 2019, the remaining notional amount of the Company&#8217;s interest bearing debt was $866.0 million compared to $990.3 million as of December 31, 2018. This $124.3
                        million net debt reduction comprised the following:</div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
          <div><br>
          </div>
          <div>
            <div>
              <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf474cb3c418649c1af5e6ddf36e47cd1" cellpadding="0" cellspacing="0">

                  <tr>
                    <td style="width: 36pt;"><br>
                    </td>
                    <td style="width: 18pt; vertical-align: top; font-family: Arial;">&#9726;</td>
                    <td style="width: auto; vertical-align: top;">
                      <div style="font-family: Arial;">$64.2 million in scheduled repayment of long-term debt,</div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
          <div>
            <div>
              <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zbfff66627d5d49eeb4ada1a20ae0a44c" cellpadding="0" cellspacing="0">

                  <tr>
                    <td style="width: 36pt;"><br>
                    </td>
                    <td style="width: 18pt; vertical-align: top; font-family: Arial;">&#9726;</td>
                    <td style="width: auto; vertical-align: top;">
                      <div style="font-family: Arial;">$57.3 million in voluntary prepayment of long-term debt</div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
          <div>
            <div>
              <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z39f3e0dfcf5c45ed9e9721e8fcf11970" cellpadding="0" cellspacing="0">

                  <tr>
                    <td style="width: 36pt;"><br>
                    </td>
                    <td style="width: 18pt; vertical-align: top; font-family: Arial;">&#9726;</td>
                    <td style="width: auto; vertical-align: top;">
                      <div style="font-family: Arial;">$6.4 million in repayment of convertible bonds</div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
          <div>
            <div>
              <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z97f6a33029bd46a585d1d53a7b189c1c" cellpadding="0" cellspacing="0">

                  <tr>
                    <td style="width: 36pt;"><br>
                    </td>
                    <td style="width: 18pt; vertical-align: top; font-family: Arial;">&#9726;</td>
                    <td style="width: auto; vertical-align: top;">
                      <div style="font-family: Arial;">$26.4 million of the convertible bonds were converted into common stock</div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
          <div>
            <div>
              <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z6a1d6f741bd847c58784919b1b863405" cellpadding="0" cellspacing="0">

                  <tr>
                    <td style="width: 36pt;"><br>
                    </td>
                    <td style="width: 18pt; vertical-align: top; font-family: Arial;">&#9726;</td>
                    <td style="width: auto; vertical-align: top;">
                      <div style="font-family: Arial;">the Company also drew $30 million on the scrubber financing under the Nordea Credit Facility.</div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
          <div><br>
          </div>
          <div>
            <div>
              <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2071573f411c44719e4d0504be8bf401" cellpadding="0" cellspacing="0">

                  <tr>
                    <td style="width: 18pt; vertical-align: top; font-family: Arial;"><font style="font-family: Times New Roman;">&#9679;</font></td>
                    <td style="width: auto; vertical-align: top;">
                      <div style="font-family: Arial; text-align: justify;">For the fourth quarter of 2019, the Company will return $47.0 million to shareholders in the form of a cash dividend of $0.32 per share, payable on February 25, 2020 to
                        shareholders of record as of February 18, 2020.</div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
          <div><br>
          </div>
          <div>
            <div>
              <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2e3a25c0195d4c2287d0d8e0ea24f23b" cellpadding="0" cellspacing="0">

                  <tr>
                    <td style="width: 18pt; vertical-align: top; font-family: Arial;"><font style="font-family: Times New Roman;">&#9679;</font></td>
                    <td style="width: auto; vertical-align: top;">
                      <div style="font-family: Arial; text-align: justify;">As of December 31, 2019 DHT had a fleet of 27 VLCCs. The total dwt of the fleet is 8,360,850. For more details on the fleet, please refer to the web site: <u>http://dhtankers.com/index.php?name=About_DHT%2FFleet.html.</u></div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
          <div><br>
          </div>
          <div><br>
          </div>
          <div><br>
          </div>
          <div><br>
          </div>
          <div><br>
          </div>
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          </div>
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          </div>
          <div><br>
          </div>
          <div><br>
          </div>
          <div style="text-align: justify; margin-right: 4.25pt; font-family: Arial;"><u>Footnotes:</u></div>
          <div style="color: rgb(0, 0, 0); font-family: Arial; font-style: italic;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>Shipping revenues net of voyage expenses.</div>
          <div style="color: rgb(0, 0, 0); font-family: Arial; font-style: italic;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup>Shipping revenues net of voyage expenses, vessel operating expenses and general and
            administrative expenses.</div>
          <div style="color: rgb(0, 0, 0); font-family: Arial; font-style: italic;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup>2018 includes impairment charge of $3.5 million related to the sale of DHT Cathy and DHT
            Sophie.</div>
          <div style="color: rgb(0, 0, 0); font-family: Arial; font-style: italic;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">4</sup>Diluted shares include the dilutive effect of the convertible senior notes and restricted
            shares granted to management and members of the board of directors.</div>
          <div style="color: rgb(0, 0, 0); font-family: Arial; font-style: italic;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">5</sup>Per common share.</div>
          <div style="color: rgb(0, 0, 0); font-family: Arial; font-style: italic;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">6</sup>Operating days are the aggregate number of calendar days in the period in which the
            vessels are owned by the Company or chartered by the Company.</div>
          <div style="color: rgb(0, 0, 0); font-family: Arial; font-style: italic;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">7</sup>Reveue days are the aggregate number of calendar days in the period in which the vessels
            are owned by the Company or chartered by the Company less days on which a vessel is off-hire.</div>
          <div style="color: rgb(0, 0, 0); font-family: Arial; font-style: italic;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">8 </sup>As % of total operating days in period.</div>
        </div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: Arial; font-size: 8pt; font-weight: normal; font-style: normal;">2</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
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        <div><br>
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        <div>
          <div style="color: rgb(0, 0, 0); font-family: Arial; font-weight: bold;"><u>FOURTH QUARTER 2019 FINANCIALS</u></div>
          <div><br>
          </div>
          <div style="text-align: justify; font-family: Arial;"><font style="color: rgb(0, 0, 0);">The Company reported shipping revenues for the fourth quarter of 2019 of $191.8 million compared to shipping revenues of $138.6 million in the fourth quarter
              of 2018.</font>&#160;<font style="color: #000000;">The increase from the 2018 period to the 2019 period includes $59.9 million attributable to higher tanker rates offset by $6.7 million attributable to change in total revenue days. The decrease in
              total revenue days was a result of scheduled off hire in connection with the scrubber retrofit project.</font></div>
          <div><br>
          </div>
          <div style="text-align: justify; color: rgb(0, 0, 0); font-family: Arial;">Voyage expenses for the fourth quarter of 2019 were $50.1 million, compared to voyage expenses of $53.4 million in the fourth quarter of 2018.&#160;The decrease was mainly due
            to a $1.6 million decrease in bunker expenses in addition to a $1.9 million decrease related to voyage expenses which are capitalized under IFRS 15.</div>
          <div><br>
          </div>
          <div style="text-align: justify; color: rgb(0, 0, 0); font-family: Arial;">Vessel operating expenses for the fourth quarter of 2019 were $21.9 million, compared to $21.2 million in the fourth quarter of 2018.</div>
          <div><br>
          </div>
          <div style="text-align: justify; color: rgb(0, 0, 0); font-family: Arial;">Depreciation and amortization, including depreciation of capitalized survey expenses, was $30.7 million for the fourth quarter of 2019, compared to $28.3 million in the
            fourth quarter of 2018. The increase was mainly due to depreciation related to scrubbers of $2.4 million.</div>
          <div><br>
          </div>
          <div style="text-align: justify; color: rgb(0, 0, 0); font-family: Arial;">General &amp; administrative expense (&#8220;G&amp;A&#8221;) for the fourth quarter of 2019 was $3.5 million, consisting of $2.7 million cash and $0.8 million non-cash charges,
            compared to $2.7 million in the fourth quarter of 2018, consisting of $2.4 million cash and $0.3 million non-cash charges. Non-cash G&amp;A includes accrual for social security tax.</div>
          <div><br>
          </div>
          <div style="text-align: justify; font-family: Arial;"><font style="color: rgb(0, 0, 0);">Net financial expenses for the fourth quarter of 2019 were $9.8 million compared to $21.2 million in the fourth quarter of 2018. The decrease was due to</font>
            a <font style="color: #000000;">non-cash gain of $3.0 million </font>related to interest rate derivatives in the fourth quarter of 2019 compared to a non-cash loss of $6.2 million in the fourth quarter of 2018 in addition to a decrease in
            interest expenses due to reduced outstanding debt<font style="color: #000000;">.</font></div>
          <div><br>
          </div>
          <div style="text-align: justify; color: rgb(0, 0, 0); font-family: Arial;">The Company had net income in the fourth quarter of 2019 of $75.9 million, or income of $0.52 per basic share and $0.47 per diluted share, compared to net income in the
            fourth quarter of 2018 of $12.0 million, or income of $0.08 per basic share and $0.08 per diluted share. The change from the 2018 period to the 2019 period was mainly due to higher tanker rates.</div>
          <div><br>
          </div>
          <div style="text-align: justify; font-family: Arial;"><font style="color: rgb(0, 0, 0);">Net cash provided by operating activities for the fourth quarter of 2019 was $49.9 million compared to net cash used in operating activities of $28.3 million
              for the fourth </font>quarter of 2018<font style="color: #000000;">. The change is mainly due to net income of $75.9 million in the fourth quarter of 2019 compared to net income of $12.0 million in the fourth quarter of 2018 offset by $35.7
              million related to change in operating assets and liabilities and $6.7 million related to items included in net income not affecting cash flows.</font></div>
          <div><br>
          </div>
          <div style="text-align: justify; color: rgb(0, 0, 0); font-family: Arial;">Net cash used in investing activities was $20.0 million in the fourth quarter of 2019 and was mainly related to investment in vessels. Net cash used in investing
            activities was $41.8 million in the fourth quarter of 2018 of which $57.8 million related to investment in vessels under construction and $10.1 million related to investment in vessels offset by $25.7 million related to sale of vessels.</div>
          <div><br>
          </div>
          <div style="text-align: justify; color: rgb(0, 0, 0); font-family: Arial;">Net cash used in financing activities for the fourth quarter of 2019 was $77.8 million comprising $57.3 million related to prepayment of long-term debt, $16.7 million
            related to scheduled repayment of long-term debt, $7.3 million related to cash dividend paid and $6.4 million related to repayment of convertible bonds offset by $10.0 million related to issuance of long-term debt. Net cash provided by
            financing activities for the fourth quarter of 2018 was $21.9 million comprising $55.0 million related to issuance of long-term debt offset by $16.1 million related to scheduled repayment of long-term debt, $8.7 million related to repayment of
            long-term debt in connection with sale of vessels, $5.0 million related to repurchase of shares and $2.9 million related to cash dividend paid.</div>
          <div><br>
          </div>
          <div style="color: rgb(0, 0, 0); font-family: Arial;">As of December 31, 2019, the cash balance was $67.4 million, compared to $94.9 million as of December 31, 2018.</div>
        </div>
        <br>
        <div><br>
        </div>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: Arial; font-size: 8pt; font-weight: normal; font-style: normal;">3</font></div>
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        <div><br>
        </div>
        <div>
          <div style="text-align: justify; color: rgb(0, 0, 0); font-family: Arial;">The Company monitors its covenant compliance on an ongoing basis. As of the date of the most recent compliance certificates submitted for the fourth quarter of 2019, the
            Company is in compliance with its financial covenants.</div>
          <div style="text-align: justify; font-family: Arial;"><font style="background-color: rgb(255, 255, 255);">As of December 31</font><font style="color: rgb(0, 0, 0);">, 2019</font><font style="background-color: rgb(255, 255, 255);">, the Company
              had </font>146,819,401 <font style="background-color: rgb(255, 255, 255);">shares of common stock outstanding compared to </font>142,700,046 shares<font style="background-color: rgb(255, 255, 255);"> as of December 31</font><font style="color: rgb(0, 0, 0);">, 2018.</font></div>
          <div><br>
          </div>
          <div style="text-align: justify; font-family: Arial;"><font style="color: rgb(0, 0, 0);">The Company declared a cash dividend of $0.32 per common share for the fourth quarter of 2019 </font>payable on February 25, 2020 for shareholders of record
            as of February 18, 2020.</div>
          <div><br>
          </div>
          <div><br>
          </div>
          <div style="text-align: justify; margin-right: 4.25pt; font-family: Arial; font-weight: bold;"><u>2019 FINANCIALS</u></div>
          <div><br>
          </div>
          <div style="text-align: justify; color: rgb(0, 0, 0); font-family: Arial;">The Company reported shipping revenues for 2019 of $535.1 million compared to $375.9 million in 2018.&#160;The increase from the 2018 period to the 2019 period includes $168.3
            million attributable to higher tanker rates offset by $9.2 million attributable to change in total revenue days.</div>
          <div><br>
          </div>
          <div style="text-align: justify; color: rgb(0, 0, 0); font-family: Arial;">Voyage expenses for 2019 were $187.5 million compared to voyage expenses of $161.9 million in 2018.&#160;The increase was mainly due to a $26.1 million increase in bunker
            expenses as a result of more vessels operating in the spot market.</div>
          <div><br>
          </div>
          <div style="text-align: justify; color: rgb(0, 0, 0); font-family: Arial;">Vessel operating expenses for 2019 were $78.3 million, compared to $75.8 million in 2018.</div>
          <div><br>
          </div>
          <div style="text-align: justify; color: rgb(0, 0, 0); font-family: Arial;">Depreciation and amortization, including depreciation of capitalized survey expenses, was $115.6 million for 2019, compared to $103.5 million in 2018. The increase was
            mainly due to depreciation related to scrubbers of $5.7 million and increased depreciation related to vessels and docking of $6.0 million.</div>
          <div><br>
          </div>
          <div style="text-align: justify; color: rgb(0, 0, 0); font-family: Arial;">No impairment charge was recorded in 2019. The Company recorded an impairment charge of $3.5 million in 2018 related to the planned sale of DHT Cathy and DHT Sophie.</div>
          <div><br>
          </div>
          <div style="text-align: justify; color: rgb(0, 0, 0); font-family: Arial;">G&amp;A for 2019 was $14.8 million, consisting of $12.3 million cash and $2.5 million non-cash, compared to $15.1 million, consisting of $12.6 million cash and $2.5
            million non-cash for 2018.</div>
          <div><br>
          </div>
          <div style="text-align: justify; color: rgb(0, 0, 0); font-family: Arial;">Net financial expenses for 2019 were $65.1 million, compared to $63.1 million in 2018. The increase is mainly due to a non-cash loss of $9.9 million in 2019 related to
            interest rate derivatives compared to a non-cash loss of $5.2 million in 2018, a non-cash finance expense of $3.6 million related to the private exchange of convertible notes due 2019 and an increase in three-month LIBOR partially offset by a
            non-cash finance expense of $4.3 million related to upfront fees in connection with the refinancing in April 2018 and an increase in interest income of $0.7 million in 2019.</div>
          <div><br>
          </div>
          <div style="text-align: justify; font-family: Arial;"><font style="color: rgb(0, 0, 0);">The Company had net income for 2019 of $73.7 million, or income of $0.51 per basic share and $0.51 per diluted share compared to net loss of $46.9 million,
              or loss of $0.33 per basic share and $0.33 per diluted share in 2018. </font>The difference between the two periods mainly reflects higher tanker rates.</div>
          <div><br>
          </div>
          <div style="text-align: justify; font-family: Arial;"><font style="color: rgb(0, 0, 0);">Net cash provided by operating activities for 2019 was $156.0 million compared to</font> $<font style="color: #000000;">54.0 million</font> for 2018<font style="color: #000000;">. The increase was mainly due to net income of $73.7 million in 2019 compared to net loss of $46.9 million in 2018, $5.9 million related to items included in net income not affecting cash flows offset by $24.6 million
              change in operating assets and liabilities.</font></div>
          <div><br>
          </div>
          <div style="text-align: justify; color: rgb(0, 0, 0); font-family: Arial;">Net cash used in investing activities for 2019 was $53.4 million and was mainly related to investment in vessels. Net cash used in investing activities for 2018 was $188.2
            million comprising $223.0 million related to investment in vessels under construction and $11.8 million related to investment in vessels offset by $46.4 million related to the sale of vessels.</div>
          <div><br>
          </div>
          <div style="text-align: justify; color: rgb(0, 0, 0); font-family: Arial;">Net cash used in financing activities for 2019 was $130.2 million comprising $92.3 million related to prepayment of long-term debt, $64.2 million related to scheduled
            repayment of long-term debt, $28.7 million related to cash dividend paid, $6.4 million related to repayment of convertible bonds and $3.2 million related to repurchase of shares offset by $65.0 million related to issuance of long-term debt. Net
            cash provided by financing activities for 2018 was $151.8 million comprising $577.7 million related to issuance of long-term debt and $38.9 million related to issuance of convertible bonds offset by $377.9 million related to repayment of
            long-term debt in connection with refinancing, $53.0 million related to scheduled repayment of long-term debt, $17.3 million related to repayment of long-term debt in connection with sale of vessels, $11.5 million related to cash dividend paid
            and $5.0 million related to repurchase of shares.</div>
        </div>
        <br>
        <div style="text-align: justify; color: #000000; font-family: Arial;"> <br>
        </div>
        <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: Arial; font-size: 8pt; font-weight: normal; font-style: normal;">4</font></div>
          <div id="DSPFPageBreak" style="page-break-after: always;">
            <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #bfbfbf; background-color: #bfbfbf;" noshade="noshade"></div>
        </div>
        <div style="text-align: justify; color: #000000; font-family: Arial;"> <br>
        </div>
        <div style="text-align: justify; color: #000000; font-family: Arial;">
          <div style="color: rgb(0, 0, 0);">As of December 31, 2019, the cash balance was $67.4 million, compared to $94.9 million as of December 31, 2018.</div>
          <div><br>
          </div>
          <div style="color: rgb(0, 0, 0);">The Company monitors its covenant compliance on an ongoing basis. As of the date of the most recent compliance certificates submitted for the fourth quarter of 2019, the Company is in compliance with its
            financial covenants.</div>
          <div><br>
          </div>
          <div><font style="background-color: rgb(255, 255, 255);">As of December 31</font><font style="color: rgb(0, 0, 0);">, 2019</font><font style="background-color: rgb(255, 255, 255);">, the Company had </font>146,819,401 <font style="background-color: #FFFFFF;">shares of common stock outstanding compared to </font>142,700,046 shares <font style="background-color: #FFFFFF;">as of December 31</font><font style="color: #000000;">, 2018.</font></div>
          <div><br>
          </div>
          <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;"><u>NON-GAAP MEASURES</u></div>
          <div>
            <div style="text-align: left;"> <br>
            </div>
            <div>The Company assesses the financial performance of its business using a variety of measures. Certain of these measures are termed &#8220;non-GAAP measures&#8221; because they exclude amounts that are included in, or include amounts that are excluded
              from, the most directly comparable measure calculated and presented in accordance with IFRS, or are calculated using financial measures that are not calculated in accordance with IFRS. These non-GAAP measures include &#8220;Adjusted Net Revenue&#8221;
              and &#8220;Adjusted EBITDA&#8221;. The Company believes that these non-GAAP measures provide useful supplemental information for its investors and, when considered together with the Company&#8217;s IFRS financial measures and the reconciliation to the most
              directly comparable IFRS financial measure, provide a more complete understanding of the factors and trends affecting the Company&#8217;s operations. In addition, the DHT&#8217;s management measures the financial performance of the Company, in part, by
              using these non-GAAP measures, along with other performance metrics. The Company does not regard these non-GAAP measures as a substitute for, or as superior to, the equivalent measures calculated and presented in accordance with IFRS.
              Additionally, these non-GAAP measures may not be comparable to other similarly titled measures used by other companies and should not be considered in isolation or as a substitute for analysis of the Company&#8217;s operating results as reported
              under IFRS.</div>
          </div>
          <div style="text-align: left; color: rgb(0, 0, 0);"> <br>
          </div>
          <div style="text-align: left; color: rgb(0, 0, 0);"> <br>
          </div>
          <br>
          <div style="text-align: left; color: rgb(0, 0, 0); font-weight: bold;"><u>RECONCILIATION OF NON-GAAP FINANCIAL MEASURES</u></div>
          <div><br>
          </div>
        </div>
        <div>
          <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z55233f045da24cd2b47c0a631e76ef60" border="0" cellpadding="0" cellspacing="0">

              <tr>
                <td style="background-color: #244062; border-left: 3px solid #808080; border-top: 3px solid #808080; vertical-align: top; width: 37.1%; color: #000000; font-family: Arial; font-size: 8pt; font-style: normal; font-variant: normal; font-weight: bold; text-transform: none;">
                  <div style="font-size: 10pt; background-color: rgb(36, 64, 98); font-weight: bold; color: rgb(255, 255, 255); font-style: normal; font-variant: normal; text-transform: none;">USD in thousands except time charter equivalent per day<br>
                  </div>
                </td>
                <td style="border-left: 3px solid #35988A; border-right: 3px solid #35988A; border-top: 3px solid #35988A; vertical-align: top; width: 9.04%; padding: 0px; color: #000000; font-family: Arial; font-size: 8pt; font-style: normal; font-variant: normal; font-weight: bold; text-transform: none;">
                  <div style="text-align: right; font-size: 10pt; background-color: rgb(36, 64, 98); font-weight: bold; color: rgb(255, 255, 255); font-style: normal; font-variant: normal; text-transform: none;">Q4 2019</div>
                </td>
                <td style="width: 9.03%; vertical-align: top; background-color: rgb(255, 255, 255); font-weight: bold; color: rgb(0, 0, 0); font-family: Arial; font-size: 8pt; font-style: normal; font-variant: normal; text-transform: none; border-top: 3px solid rgb(128, 128, 128);">
                  <div style="text-align: right; font-size: 10pt; background-color: rgb(36, 64, 98); font-weight: bold; color: rgb(255, 255, 255); font-style: normal; font-variant: normal; text-transform: none;">Q3 2019</div>
                </td>
                <td style="width: 9.03%; vertical-align: top; background-color: rgb(255, 255, 255); font-weight: bold; color: rgb(0, 0, 0); font-family: Arial; font-size: 8pt; font-style: normal; font-variant: normal; text-transform: none; border-top: 3px solid rgb(128, 128, 128);">
                  <div style="text-align: right; font-size: 10pt; background-color: rgb(36, 64, 98); font-weight: bold; color: rgb(255, 255, 255); font-style: normal; font-variant: normal; text-transform: none;">Q2 2019</div>
                </td>
                <td style="width: 9.03%; vertical-align: top; background-color: rgb(255, 255, 255); font-weight: bold; color: rgb(0, 0, 0); font-family: Arial; font-size: 8pt; font-style: normal; font-variant: normal; text-transform: none; border-top: 3px solid rgb(128, 128, 128);">
                  <div style="text-align: right; font-size: 10pt; background-color: rgb(36, 64, 98); font-weight: bold; color: rgb(255, 255, 255); font-style: normal; font-variant: normal; text-transform: none;">Q1 2019</div>
                </td>
                <td style="border-right: 0px dashed; border-top: 3px solid #808080; vertical-align: top; width: 9.03%; color: #000000; font-family: Arial; font-size: 8pt; font-style: normal; font-variant: normal; font-weight: bold; text-transform: none;">
                  <div style="text-align: right; font-size: 10pt; background-color: rgb(36, 64, 98); font-weight: bold; color: rgb(255, 255, 255); font-style: normal; font-variant: normal; text-transform: none;">Q4 2018</div>
                </td>
                <td style="border-top: 3px solid #808080; vertical-align: top; width: 8.87%; color: #000000; font-family: Arial; font-size: 8pt; font-style: normal; font-variant: normal; font-weight: bold; text-transform: none;">
                  <div style="text-align: right; font-size: 10pt; background-color: rgb(36, 64, 98); font-weight: bold; color: rgb(255, 255, 255); font-style: normal; font-variant: normal; text-transform: none;">2019</div>
                </td>
                <td style="width: 8.86%; vertical-align: top; background-color: rgb(255, 255, 255); font-weight: bold; color: rgb(0, 0, 0); font-family: Arial; font-size: 8pt; font-style: normal; font-variant: normal; text-transform: none; border-right: 3px solid rgb(128, 128, 128); border-top: 3px solid rgb(128, 128, 128);">
                  <div style="text-align: right; font-size: 10pt; background-color: rgb(36, 64, 98); font-weight: bold; color: rgb(255, 255, 255); font-style: normal; font-variant: normal; text-transform: none;">2018</div>
                </td>
              </tr>
              <tr>
                <td style="width: 37.1%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128);">
                  <div style="color: rgb(0, 0, 0); font-family: Arial; font-style: italic; font-weight: bold; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Reconciliation of adjusted net revenue</div>
                </td>
                <td style="border-bottom: medium none; border-left: 3px solid #35988A; border-right: 3px solid #35988A; border-top: medium none; vertical-align: top; width: 9.04%; padding: 0px;">&#160;</td>
                <td style="width: 9.03%; vertical-align: top;">&#160;</td>
                <td style="width: 9.03%; vertical-align: top;">&#160;</td>
                <td style="width: 9.03%; vertical-align: top;">&#160;</td>
                <td style="border-right: 0px dashed rgb(128, 128, 128); vertical-align: top; width: 9.03%;">&#160;</td>
                <td style="border-left: 0px dashed; vertical-align: top; width: 8.87%;">&#160;</td>
                <td style="width: 8.86%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">&#160;</td>
              </tr>
              <tr>
                <td style="width: 37.1%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(217, 217, 217); color: rgb(0, 0, 0); font-variant: normal; text-transform: none;">&#160;</td>
                <td style="border-left: 3px solid #35988A; border-right: 3px solid #35988A; vertical-align: top; width: 9.04%; padding: 0px;">&#160;</td>
                <td style="width: 9.03%; vertical-align: top;">&#160;</td>
                <td style="width: 9.03%; vertical-align: top;">&#160;</td>
                <td style="width: 9.03%; vertical-align: top;">&#160;</td>
                <td style="border-right: 0px dashed rgb(128, 128, 128); vertical-align: top; width: 9.03%;">&#160;</td>
                <td style="border-left: 0px dashed; vertical-align: top; width: 8.87%;">&#160;</td>
                <td style="width: 8.86%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">&#160;</td>
              </tr>
              <tr>
                <td style="width: 37.1%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128);">
                  <div style="color: rgb(0, 0, 0); font-family: Arial; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Shipping revenues</div>
                </td>
                <td style="border-left: 3px solid #35988A; border-right: 3px solid #35988A; vertical-align: top; width: 9.04%; padding: 0px;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">191,835</div>
                </td>
                <td style="width: 9.03%; vertical-align: top;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">104,740</div>
                </td>
                <td style="width: 9.03%; vertical-align: top;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">106,188</div>
                </td>
                <td style="width: 9.03%; vertical-align: top;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">132,305</div>
                </td>
                <td style="border-right: 0px dashed #808080; vertical-align: top; width: 9.03%;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">138,620</div>
                </td>
                <td style="border-left: 0px dashed; vertical-align: top; width: 8.87%;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">535,068</div>
                </td>
                <td style="width: 8.86%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">375,941</div>
                </td>
              </tr>
              <tr>
                <td style="border-bottom: #808080; border-left: 3px solid #808080; vertical-align: top; width: 37.1%;">
                  <div style="color: rgb(0, 0, 0); font-family: Arial; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Voyage expenses</div>
                </td>
                <td style="border-bottom: 2px solid #808080; border-left: 3px solid #35988A; border-right: 3px solid #35988A; border-top: 0px dashed; vertical-align: top; width: 9.04%; padding: 0px;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">(50,140)</div>
                </td>
                <td style="width: 9.03%; vertical-align: top;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">(45,847)</div>
                </td>
                <td style="width: 9.03%; vertical-align: top;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">(45,021)</div>
                </td>
                <td style="width: 9.03%; vertical-align: top;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">(46,492)</div>
                </td>
                <td style="border-right: 0px dashed #808080; vertical-align: top; width: 9.03%;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">(53,389)</div>
                </td>
                <td style="border-left: 0px dashed; vertical-align: top; width: 8.87%;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">(187,500)</div>
                </td>
                <td style="width: 8.86%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">(161,891)</div>
                </td>
              </tr>
              <tr>
                <td style="border-bottom: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); vertical-align: top; width: 37.1%; border-left: 3px solid rgb(128, 128, 128);">
                  <div style="color: rgb(0, 0, 0); font-family: Arial; font-weight: bold; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Adjusted net revenue</div>
                </td>
                <td style="border-bottom: 2px solid #808080; border-left: 3px solid #35988A; border-right: 3px solid #35988A; border-top: 2px solid #808080; vertical-align: top; width: 9.04%; padding: 0px;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial; font-weight: bold;">141,695</div>
                </td>
                <td style="border-bottom: 2px solid #808080; border-top: 2px solid #808080; vertical-align: top; width: 9.03%;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial; font-weight: bold;">58,893</div>
                </td>
                <td style="border-bottom: 2px solid #808080; border-top: 2px solid #808080; vertical-align: top; width: 9.03%;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial; font-weight: bold;">61,168</div>
                </td>
                <td style="border-bottom: 2px solid #808080; border-top: 2px solid #808080; vertical-align: top; width: 9.03%;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial; font-weight: bold;">85,812</div>
                </td>
                <td style="border-bottom: 2px solid #808080; border-left: medium none; border-right: 0px dashed; border-top: 2px solid #808080; vertical-align: top; width: 9.03%;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial; font-weight: bold;">85,231</div>
                </td>
                <td style="border-bottom: 2px solid #808080; border-left: 0px dashed; border-top: 2px solid #808080; vertical-align: top; width: 8.87%;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial; font-weight: bold;">347,568</div>
                </td>
                <td style="border-bottom: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); vertical-align: top; width: 8.86%; border-right: 3px solid rgb(128, 128, 128);">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial; font-weight: bold;">214,050</div>
                </td>
              </tr>
              <tr>
                <td style="width: 37.1%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(217, 217, 217); color: rgb(0, 0, 0); font-variant: normal; text-transform: none;">&#160;</td>
                <td style="border-left: 3px solid #35988A; border-right: 3px solid #35988A; vertical-align: top; width: 9.04%; padding: 0px;">&#160;</td>
                <td style="width: 9.03%; vertical-align: top;">&#160;</td>
                <td style="width: 9.03%; vertical-align: top;">&#160;</td>
                <td style="width: 9.03%; vertical-align: top;">&#160;</td>
                <td style="border-right: 0px dashed rgb(128, 128, 128); vertical-align: top; width: 9.03%;">&#160;</td>
                <td style="border-left: 0px dashed; vertical-align: top; width: 8.87%;">&#160;</td>
                <td style="width: 8.86%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">&#160;</td>
              </tr>
              <tr>
                <td style="width: 37.1%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128);">
                  <div style="color: rgb(0, 0, 0); font-family: Arial; font-style: italic; font-weight: bold; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Reconciliation of adjusted EBITDA</div>
                </td>
                <td style="border-left: 3px solid #35988A; border-right: 3px solid #35988A; vertical-align: top; width: 9.04%; padding: 0px;">&#160;</td>
                <td style="width: 9.03%; vertical-align: top;">&#160;</td>
                <td style="width: 9.03%; vertical-align: top;">&#160;</td>
                <td style="width: 9.03%; vertical-align: top;">&#160;</td>
                <td style="border-right: 0px dashed rgb(128, 128, 128); vertical-align: top; width: 9.03%;">&#160;</td>
                <td style="border-left: 0px dashed; vertical-align: top; width: 8.87%;">&#160;</td>
                <td style="width: 8.86%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">&#160;</td>
              </tr>
              <tr>
                <td style="width: 37.1%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(217, 217, 217); color: rgb(0, 0, 0); font-variant: normal; text-transform: none;">&#160;</td>
                <td style="border-left: 3px solid #35988A; border-right: 3px solid #35988A; vertical-align: top; width: 9.04%; padding: 0px;">&#160;</td>
                <td style="width: 9.03%; vertical-align: top;">&#160;</td>
                <td style="width: 9.03%; vertical-align: top;">&#160;</td>
                <td style="width: 9.03%; vertical-align: top;">&#160;</td>
                <td style="border-right: 0px dashed rgb(128, 128, 128); vertical-align: top; width: 9.03%;">&#160;</td>
                <td style="border-left: 0px dashed; vertical-align: top; width: 8.87%;">&#160;</td>
                <td style="width: 8.86%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">&#160;</td>
              </tr>
              <tr>
                <td style="width: 37.1%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128);">
                  <div style="color: rgb(0, 0, 0); font-family: Arial; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Net income/(loss) after tax</div>
                </td>
                <td style="border-left: 3px solid #35988A; border-right: 3px solid #35988A; vertical-align: top; width: 9.04%; padding: 0px;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">75,862<br>
                  </div>
                </td>
                <td style="width: 9.03%; vertical-align: top;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">(9,391)</div>
                </td>
                <td style="width: 9.03%; vertical-align: top;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">(10,513)<br>
                  </div>
                </td>
                <td style="width: 9.03%; vertical-align: top;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">17,723</div>
                </td>
                <td style="border-right: 0px dashed #808080; vertical-align: top; width: 9.03%;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">11,983<br>
                  </div>
                </td>
                <td style="border-left: 0px dashed; vertical-align: top; width: 8.87%;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">73,680</div>
                </td>
                <td style="width: 8.86%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">(46,927)<br>
                  </div>
                </td>
              </tr>
              <tr>
                <td style="width: 37.1%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128);">
                  <div style="color: rgb(0, 0, 0); font-family: Arial; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Income tax expense/(income)</div>
                </td>
                <td style="border-left: 3px solid #35988A; border-right: 3px solid #35988A; vertical-align: top; width: 9.04%; padding: 0px;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">20<br>
                  </div>
                </td>
                <td style="width: 9.03%; vertical-align: top;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">15<br>
                  </div>
                </td>
                <td style="width: 9.03%; vertical-align: top;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">61</div>
                </td>
                <td style="width: 9.03%; vertical-align: top;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">36</div>
                </td>
                <td style="border-right: 0px dashed #808080; vertical-align: top; width: 9.03%;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">(16)<br>
                  </div>
                </td>
                <td style="border-left: 0px dashed; vertical-align: top; width: 8.87%;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">131<br>
                  </div>
                </td>
                <td style="width: 8.86%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">83<br>
                  </div>
                </td>
              </tr>
              <tr>
                <td style="width: 37.1%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128);">
                  <div style="color: rgb(0, 0, 0); font-family: Arial; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Other financial (income)/expenses</div>
                </td>
                <td style="border-left: 3px solid #35988A; border-right: 3px solid #35988A; vertical-align: top; width: 9.04%; padding: 0px;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">350<br>
                  </div>
                </td>
                <td style="width: 9.03%; vertical-align: top;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">661<br>
                  </div>
                </td>
                <td style="width: 9.03%; vertical-align: top;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">400<br>
                  </div>
                </td>
                <td style="width: 9.03%; vertical-align: top;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">378<br>
                  </div>
                </td>
                <td style="border-right: 0px dashed #808080; vertical-align: top; width: 9.03%;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">579<br>
                  </div>
                </td>
                <td style="border-left: 0px dashed; vertical-align: top; width: 8.87%;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">1,790<br>
                  </div>
                </td>
                <td style="width: 8.86%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">4,943<br>
                  </div>
                </td>
              </tr>
              <tr>
                <td style="width: 37.1%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128);">
                  <div style="color: rgb(0, 0, 0); font-family: Arial; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Fair value (gain)/loss on derivative financial instruments</div>
                </td>
                <td style="border-left: 3px solid #35988A; border-right: 3px solid #35988A; vertical-align: top; width: 9.04%; padding: 0px;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">(2,990)<br>
                  </div>
                </td>
                <td style="width: 9.03%; vertical-align: top;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">1,510<br>
                  </div>
                </td>
                <td style="width: 9.03%; vertical-align: top;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">6,979</div>
                </td>
                <td style="width: 9.03%; vertical-align: top;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">4,364<br>
                  </div>
                </td>
                <td style="border-right: 0px dashed #808080; vertical-align: top; width: 9.03%;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">6,222<br>
                  </div>
                </td>
                <td style="border-left: 0px dashed; vertical-align: top; width: 8.87%;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">9,863<br>
                  </div>
                </td>
                <td style="width: 8.86%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">5,191<br>
                  </div>
                </td>
              </tr>
              <tr>
                <td style="width: 37.1%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128);">
                  <div style="color: rgb(0, 0, 0); font-family: Arial; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Interest expense</div>
                </td>
                <td style="border-left: 3px solid #35988A; border-right: 3px solid #35988A; vertical-align: top; width: 9.04%; padding: 0px;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">13,016</div>
                </td>
                <td style="width: 9.03%; vertical-align: top;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">13,807</div>
                </td>
                <td style="width: 9.03%; vertical-align: top;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">13,961</div>
                </td>
                <td style="width: 9.03%; vertical-align: top;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">14,548<br>
                  </div>
                </td>
                <td style="border-right: 0px dashed #808080; vertical-align: top; width: 9.03%;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">14,784</div>
                </td>
                <td style="border-left: 0px dashed; vertical-align: top; width: 8.87%;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">55,332</div>
                </td>
                <td style="width: 8.86%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">54,211</div>
                </td>
              </tr>
              <tr>
                <td style="width: 37.1%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128);">
                  <div style="color: rgb(0, 0, 0); font-family: Arial; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Interest income</div>
                </td>
                <td style="border-left: 3px solid #35988A; border-right: 3px solid #35988A; vertical-align: top; width: 9.04%; padding: 0px;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">(357)</div>
                </td>
                <td style="width: 9.03%; vertical-align: top;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">(113)</div>
                </td>
                <td style="width: 9.03%; vertical-align: top;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">(444)</div>
                </td>
                <td style="width: 9.03%; vertical-align: top;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">(163)</div>
                </td>
                <td style="border-right: 0px dashed #808080; vertical-align: top; width: 9.03%;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">(120)</div>
                </td>
                <td style="border-left: 0px dashed; vertical-align: top; width: 8.87%;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">(1,077)</div>
                </td>
                <td style="width: 8.86%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">(345)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 37.1%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128);">
                  <div style="color: rgb(0, 0, 0); font-family: Arial; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Share of profit from associated companies</div>
                </td>
                <td style="border-left: 3px solid #35988A; border-right: 3px solid #35988A; vertical-align: top; width: 9.04%; padding: 0px;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">(267)</div>
                </td>
                <td style="width: 9.03%; vertical-align: top;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">(158)</div>
                </td>
                <td style="width: 9.03%; vertical-align: top;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">(162)</div>
                </td>
                <td style="width: 9.03%; vertical-align: top;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">(265)</div>
                </td>
                <td style="border-right: 0px dashed #808080; vertical-align: top; width: 9.03%;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">(217)</div>
                </td>
                <td style="border-left: 0px dashed; vertical-align: top; width: 8.87%;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">(852)</div>
                </td>
                <td style="width: 8.86%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">(858)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 37.1%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128);">
                  <div style="color: rgb(0, 0, 0); font-family: Arial; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">(Profit)/loss, sale of vessel</div>
                </td>
                <td style="border-left: 3px solid #35988A; border-right: 3px solid #35988A; vertical-align: top; width: 9.04%; padding: 0px;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">-</div>
                </td>
                <td style="width: 9.03%; vertical-align: top;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">-</div>
                </td>
                <td style="width: 9.03%; vertical-align: top;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">-</div>
                </td>
                <td style="width: 9.03%; vertical-align: top;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">-</div>
                </td>
                <td style="border-right: 0px dashed #808080; vertical-align: top; width: 9.03%;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">(122)<br>
                  </div>
                </td>
                <td style="border-left: 0px dashed; vertical-align: top; width: 8.87%;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">-</div>
                </td>
                <td style="width: 8.86%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">(75)<br>
                  </div>
                </td>
              </tr>
              <tr>
                <td style="width: 37.1%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128);">
                  <div style="color: rgb(0, 0, 0); font-family: Arial; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Impairment charges</div>
                </td>
                <td style="border-left: 3px solid #35988A; border-right: 3px solid #35988A; vertical-align: top; width: 9.04%; padding: 0px;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">-</div>
                </td>
                <td style="width: 9.03%; vertical-align: top;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">-</div>
                </td>
                <td style="width: 9.03%; vertical-align: top;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">-</div>
                </td>
                <td style="width: 9.03%; vertical-align: top;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">-</div>
                </td>
                <td style="border-right: 0px dashed #808080; vertical-align: top; width: 9.03%;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">-</div>
                </td>
                <td style="border-left: 0px dashed; vertical-align: top; width: 8.87%;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">-</div>
                </td>
                <td style="width: 8.86%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">3,500</div>
                </td>
              </tr>
              <tr>
                <td style="border-bottom: 2px solid #808080; border-left: 3px solid #808080; border-right: 0px; border-top: 0px dashed #808080; vertical-align: top; width: 37.1%;">
                  <div style="color: rgb(0, 0, 0); font-family: Arial; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Depreciation and amortization</div>
                </td>
                <td style="border-bottom: 2px solid #808080; border-left: 3px solid #35988A; border-right: 3px solid #35988A; border-top: 0px dashed; vertical-align: top; width: 9.04%; padding: 0px;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">30,663</div>
                </td>
                <td style="width: 9.03%; vertical-align: top;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">29,656</div>
                </td>
                <td style="width: 9.03%; vertical-align: top;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">27,713</div>
                </td>
                <td style="width: 9.03%; vertical-align: top;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">27,552</div>
                </td>
                <td style="border-right: 0px dashed #808080; vertical-align: top; width: 9.03%;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">28,251</div>
                </td>
                <td style="border-left: 0px dashed; vertical-align: top; width: 8.87%;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">115,584</div>
                </td>
                <td style="width: 8.86%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">103,476</div>
                </td>
              </tr>
              <tr>
                <td style="width: 37.1%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128); border-bottom: 3px solid rgb(128, 128, 128);">
                  <div style="color: rgb(0, 0, 0); font-family: Arial; font-weight: bold; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Adjusted EBITDA</div>
                </td>
                <td style="border-bottom: 3px solid #808080; border-left: 3px solid #35988A; border-right: 3px solid #35988A; vertical-align: top; width: 9.04%; padding: 0px;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial; font-weight: bold;">116,298</div>
                </td>
                <td style="border-bottom: 3px solid #808080; border-left: 2px solid #808080; border-right: 0px none; border-top: 2px solid #808080; vertical-align: top; width: 9.03%;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial; font-weight: bold;">35,987</div>
                </td>
                <td style="border-bottom: 3px solid #808080; border-left: 0px none #808080; border-right: 0px none; border-top: 2px solid #808080; vertical-align: top; width: 9.03%;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial; font-weight: bold;">37,994</div>
                </td>
                <td style="border-bottom: 3px solid #808080; border-left: 0px none #808080; border-right: 0px none; border-top: 2px solid #808080; vertical-align: top; width: 9.03%;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial; font-weight: bold;">64,172</div>
                </td>
                <td style="border-bottom: 3px solid #808080; border-left: medium none; border-right: 0px dashed #808080; border-top: 2px solid #808080; vertical-align: top; width: 9.03%;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial; font-weight: bold;">61,343</div>
                </td>
                <td style="border-bottom: 3px solid #808080; border-left: 0px dashed; border-right: medium none; border-top: 2px solid #808080; vertical-align: top; width: 8.87%;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial; font-weight: bold;">254,452</div>
                </td>
                <td style="border-bottom: 3px solid #808080; border-left: 0px none; border-right: 3px solid #808080; border-top: 2px solid #808080; vertical-align: top; width: 8.86%;">
                  <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial; font-weight: bold;">123,198</div>
                </td>
              </tr>
              <tr>
                <td rowspan="1" style="border-bottom: 3px none; border-left: 3px solid rgb(128, 128, 128); vertical-align: top; width: 37.1%; font-family: Arial;">&#160;</td>
                <td rowspan="1" style="border-bottom: 0px none; border-left: 3px solid #35988A; border-right: 3px solid #35988A; vertical-align: top; width: 9.04%; padding: 0px; font-family: Arial;">&#160;</td>
                <td colspan="4" rowspan="1" style="border-width: 2px 0px 0px; border-style: solid none none; border-color: rgb(128, 128, 128) -moz-use-text-color -moz-use-text-color; vertical-align: top; width: 9.03%;">&#160;&#160;&#160;&#160;</td>
                <td colspan="2" rowspan="1" style="border-width: 2px medium 3px 0px; border-style: solid none none dashed; border-color: rgb(128, 128, 128) -moz-use-text-color -moz-use-text-color; vertical-align: top; width: 8.87%;">&#160;&#160;</td>
              </tr>
              <tr>
                <td rowspan="1" style="border-bottom: medium none; border-left: 3px solid #808080; vertical-align: top; width: 37.1%; font-family: Arial;"><font style="font-weight: bold; font-style: italic;">Reconciliation of adjusted spot time charter
                    equivalent per day</font><br>
                </td>
                <td rowspan="1" style="border-bottom: 0px none; border-left: 3px solid #35988A; border-right: 3px solid #35988A; border-top: 0px none; vertical-align: top; width: 9.04%; padding: 0px; font-family: Arial;">&#160;</td>
                <td colspan="4" rowspan="1" style="border-bottom: medium none; border-left: 0px none; border-right: 0px none; border-top: 0px none; vertical-align: top; width: 9.03%;">&#160;</td>
                <td colspan="2" rowspan="1" style="border-bottom: 3px none; border-left: 0px none; border-right: medium none; border-top: 0px none; vertical-align: top; width: 8.87%;">&#160;</td>
              </tr>
              <tr>
                <td rowspan="1" style="border-bottom: 0px none; border-left: 3px solid rgb(128, 128, 128); vertical-align: top; width: 37.1%; font-family: Arial;">Spot time charter equivalent per day<br>
                </td>
                <td rowspan="1" style="border-bottom: 3px none; border-left: 3px solid #35988A; border-right: 3px solid #35988A; border-top: 0px none; vertical-align: top; width: 9.04%; padding: 0px; font-family: Arial; text-align: right;">59,200 <br>
                </td>
                <td colspan="4" rowspan="1" style="border-width: medium 0px; border-style: none; border-color: -moz-use-text-color; vertical-align: top; width: 9.03%;">&#160;</td>
                <td colspan="2" rowspan="1" style="border-width: 0px medium 3px 0px; border-style: none none none dashed; border-color: -moz-use-text-color; vertical-align: top; width: 8.87%;">&#160;</td>
              </tr>
              <tr>
                <td rowspan="1" style="border-bottom: 0px none; border-left: 3px solid rgb(128, 128, 128); vertical-align: top; width: 37.1%; font-family: Arial;">IFRS 15 impact on spot time charter equivalent per day <br>
                </td>
                <td rowspan="1" style="border-bottom: 3px none; border-left: 3px solid #35988A; border-right: 3px solid #35988A; border-top: 0px none; vertical-align: top; width: 9.04%; padding: 0px; font-family: Arial; text-align: right;">4,700 <br>
                </td>
                <td colspan="4" rowspan="1" style="border-width: 0px 0px medium medium; border-style: none; border-color: -moz-use-text-color; vertical-align: top; width: 9.03%;">&#160;</td>
                <td colspan="2" rowspan="1" style="border-width: 0px medium 3px 0px; border-style: none none none dashed; border-color: -moz-use-text-color; vertical-align: top; width: 8.87%;">&#160;</td>
              </tr>
              <tr>
                <td rowspan="1" style="border-bottom: 3px solid rgb(128, 128, 128); border-left: 3px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); vertical-align: top; width: 37.1%; font-family: Arial;"><font style="font-weight: bold;">Adjusted spot time charter equivalent per day </font><br>
                </td>
                <td rowspan="1" style="border-bottom: 3px solid #35988A; border-left: 3px solid #35988A; border-right: 3px solid #35988A; border-top: 2px solid #808080; vertical-align: top; width: 9.04%; padding: 0px; font-family: Arial; text-align: right;"><font style="font-weight: bold;">63,900 </font><br>
                </td>
                <td colspan="4" rowspan="1" style="border-width: 0px 0px medium; border-style: none; border-color: -moz-use-text-color; vertical-align: top; width: 9.03%;">&#160;</td>
                <td colspan="2" rowspan="1" style="border-width: medium medium 3px 0px; border-style: none none none dashed; border-color: -moz-use-text-color; vertical-align: top; width: 8.87%;">&#160;</td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div>
          <div style="color: rgb(0, 0, 0); font-family: Arial; font-weight: bold;">EARNINGS CONFERENCE CALL AND WEBCAST INFORMATION</div>
          <div style="text-align: justify; font-family: Arial;"><font style="color: rgb(0, 0, 0);">The Company will host a conference call </font>and webcast which will include a slide presentation<font style="color: rgb(0, 0, 0);"> at 8:00 a.m. EST/14:00
              CET on Thursday February 6, 2020</font><font style="font-weight: bold; color: rgb(0, 0, 0);">&#160;</font><font style="color: rgb(0, 0, 0);">to discuss the results for the quarter.</font></div>
        </div>
        <br>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: Arial; font-size: 8pt; font-weight: normal; font-style: normal;">5</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;" noshade="noshade"></div>
        </div>
        <div><font style="font-weight: normal;"><br>
          </font> </div>
        <font style="font-weight: normal;"> </font>
        <div style="color: #000000; font-family: Arial; font-weight: bold;">
          <div style="text-align: justify; font-weight: normal;">All shareholders and other interested parties are invited to join the conference call, which may be accessed by calling +1&#160;631&#160;510 7495 <font style="color: rgb(0, 0, 0);">within the United
              States, 23 96 02 64 within Norway and +44&#160;(0) 207&#160;192 8000 for international callers</font>. The passcode is &#8220;DHT&#8221; or &#8220;5239339&#8221;.</div>
          <div style="font-weight: normal;"><br>
          </div>
          <div style="font-weight: normal;">The webcast which will include a slide presentation will be available on the following link:</div>
          <div style="text-align: justify;"><font style="font-weight: normal;"><u>https://edge.media-server.com/mmc/p/fnafi29g</u> and can also be accessed in the Investor Relations section on DHT&#8217;s website at <u>http://www.dhtankers.com</u><font style="color: rgb(0, 0, 0);">.</font><br>
            </font><font style="font-weight: normal;"><br>
            </font></div>
          <div style="text-align: justify; color: rgb(0, 0, 0); font-weight: normal;">An audio replay of the conference call will be available until February 13, 2020 1:00 a.m. EST/19:00 CET.</div>
          <div style="text-align: justify;"><font style="color: rgb(0, 0, 0); font-weight: normal;">To access the replay, dial +1&#160;917&#160;677 7532</font><font style="font-weight: normal;">&#160;<font style="color: rgb(0, 0, 0);">within the United States, 21 03 42
                35 within Norway or +44&#160;(0) 333&#160;300 9785 for international callers and enter </font>&#8220;5239339&#8221;<font style="color: rgb(0, 0, 0);"> as the pass code.</font></font></div>
          <div style="font-weight: normal;"><br>
          </div>
          <div style="font-weight: normal;"><br>
          </div>
          <div style="font-weight: normal;"><br>
          </div>
          <div style="font-weight: normal;"><br>
          </div>
          <div style="font-weight: normal;"><br>
          </div>
          <div style="font-weight: normal;"><br>
          </div>
          <div style="font-weight: normal;"><br>
          </div>
          <div style="font-weight: normal;"><br>
          </div>
          <div style="color: rgb(0, 0, 0); font-weight: bold;">ABOUT DHT HOLDINGS, INC.</div>
          <div style="font-weight: normal;"><br>
          </div>
          <div style="text-align: justify;"><font style="color: rgb(0, 0, 0); font-weight: normal;">DHT is an independent crude oil tanker company. Our fleet trades </font><font style="font-weight: normal;">internationally and consists of crude oil
              tankers in the VLCC segment. We operate through our integrated management companies in Monaco, Singapore and Oslo, Norway.&#160;You shall recognize us by our business approach with an experienced organization with focus on first rate operations
              and customer service, quality ships built at quality shipyards, prudent capital structure with robust cash break even levels to accommodate staying power through the business cycles, a combination of market exposure and fixed income contracts
              for our fleet and a transparent corporate structure maintaining a high level of integrity and good governance.&#160; <font style="color: rgb(0, 0, 0);">For further information: </font><u>www.dhtankers.com</u><font style="color: rgb(0, 0, 0);">.</font></font></div>
          <div style="font-weight: normal;"><br>
          </div>
          <div style="text-align: justify;"><font style="font-weight: bold;">FORWARD LOOKING STATEMENTS</font><font style="font-weight: bold;"><br>
            </font><font style="font-weight: normal;"><br>
              This press release contains certain forward-looking statements and information relating to the Company that are based on beliefs of the Company&#8217;s management as well as assumptions, expectations, projections, intentions and beliefs about
              future events, in particular regarding dividends (including our dividend plans, timing and the amount and growth of any dividends), daily charter rates, vessel utilization, the future number of newbuilding deliveries, oil prices and seasonal
              fluctuations in vessel supply and demand. When used in this document, words such as &#8220;believe,&#8221; &#8220;intend,&#8221; &#8220;anticipate,&#8221; &#8220;estimate,&#8221; &#8220;project,&#8221; &#8220;forecast,&#8221; &#8220;plan,&#8221; &#8220;potential,&#8221; &#8220;will,&#8221; &#8220;may,&#8221; &#8220;should&#8221; and &#8220;expect&#8221; and similar expressions are
              intended to identify forward-looking statements but are not the exclusive means of identifying such statements.&#160; These statements reflect the Company&#8217;s current views with respect to future events and are based on assumptions and subject to
              risks and uncertainties.&#160; Given these uncertainties, you should not place undue reliance on these forward-looking statements.&#160; These forward-looking statements represent the Company&#8217;s estimates and assumptions only as of the date of this
              press release and are not intended to give any assurance as to future results.&#160; For a detailed discussion of the risk factors that might cause future results to differ, please refer to the Company&#8217;s Annual Report on Form 20-F, filed with the
              Securities and Exchange Commission on March 28, 2019.<br>
              <br>
              <br>
              The Company undertakes no obligation to publicly update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise, except as required by law.&#160; In light of
              these risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur, and the Company&#8217;s actual results could differ materially from those anticipated in these forward-looking statements.</font></div>
          <div style="font-weight: normal;"><br>
          </div>
          <div><font style="color: rgb(0, 0, 0); font-weight: normal;">CONTACT:</font><font style="font-weight: normal;"><br>
            </font><font style="color: rgb(0, 0, 0); font-weight: normal;">Laila C. Halvorsen, CFO</font><font style="font-weight: normal;"><br>
            </font><font style="color: rgb(0, 0, 0); font-weight: normal;">Phone: +1 441&#160;295 1422 and +47 984 39 935</font><font style="font-weight: normal;"><br>
            </font><font style="color: rgb(0, 0, 0); font-weight: normal;">E-mail:</font> <u><font style="font-weight: normal;">lch@dhtankers.com</font></u></div>
        </div>
        <br>
        <div><br>
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          <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: Arial; font-size: 8pt; font-weight: normal; font-style: normal;">6</font></div>
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        <div style="text-align: center; font-family: Arial; font-size: 18pt; font-weight: bold;">DHT HOLDINGS, INC.</div>
        <div><br>
        </div>
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        </div>
        <div><br>
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        <div><br>
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        <div style="text-align: center; font-family: Arial; font-weight: bold;">UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</div>
        <div><br>
        </div>
        <div style="text-align: center; font-family: Arial; font-weight: bold;">AS OF DECEMBER 31, 2019</div>
        <div><br>
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          <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: Arial; font-size: 8pt; font-weight: normal; font-style: normal;">7</font></div>
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        <div style="text-align: center; font-family: Arial; font-weight: bold;"><u>CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION (UNAUDITED)</u></div>
        <div style="text-align: center; font-family: Arial;">($ in thousands)</div>
        <div><br>
        </div>
        <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z66b424793cb240468ae3acb332050f16" border="0" cellpadding="0" cellspacing="0">

            <tr>
              <td style="background-color: #244062; border-left: 3px solid #808080; border-top: 3px solid #808080; vertical-align: top; width: 41.76%; color: #FFFFFF; font-style: normal; font-variant: normal; font-weight: normal; text-transform: none;">&#160;</td>
              <td style="background-color: #244062; border-bottom: none; border-top: 3px solid #808080; vertical-align: top; width: 6.66%; color: #000000; font-style: normal; font-variant: normal; text-transform: none;">
                <div style="text-align: center; font-family: Arial; font-weight: bold; background-color: rgb(36, 64, 98); color: rgb(255, 255, 255); font-style: normal; font-variant: normal; text-transform: none;">Note</div>
              </td>
              <td style="width: 4.19%; vertical-align: top; border-top: 3px solid rgb(128, 128, 128); background-color: rgb(36, 64, 98); color: rgb(255, 255, 255); font-style: normal; font-variant: normal; text-transform: none; font-weight: bold;">&#160;</td>
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                <div style="text-align: center; font-family: Arial; font-weight: bold; background-color: rgb(36, 64, 98); color: rgb(255, 255, 255); font-style: normal; font-variant: normal; text-transform: none;">December 31, 2019</div>
              </td>
              <td style="width: 4.2%; vertical-align: top; border-top: 3px solid rgb(128, 128, 128); background-color: rgb(36, 64, 98); color: rgb(255, 255, 255); font-style: normal; font-variant: normal; text-transform: none; font-weight: bold;">&#160;</td>
              <td style="background-color: #244062; border-right: 3px solid #808080; border-top: 3px solid #808080; vertical-align: top; width: 21.59%; color: #000000; font-style: normal; font-variant: normal; text-transform: none;">
                <div style="text-align: center; font-family: Arial; font-weight: bold; background-color: rgb(36, 64, 98); color: rgb(255, 255, 255); font-style: normal; font-variant: normal; text-transform: none;">December 31, 2018</div>
              </td>
            </tr>
            <tr>
              <td rowspan="1" style="background-color: #35988A; border-left: 3px solid #808080; vertical-align: top; width: 41.76%; color: #FFFFFF; font-weight: bold;"><font style="font-family: Arial;">ASSETS</font></td>
              <td rowspan="1" style="background-color: #35988A; border-top: none; vertical-align: top; width: 6.66%;">&#160;</td>
              <td rowspan="1" style="background-color: #35988A; vertical-align: top; width: 4.19%;">&#160;</td>
              <td rowspan="1" style="background-color: #35988A; vertical-align: top; width: 21.59%;">&#160;</td>
              <td rowspan="1" style="background-color: #35988A; vertical-align: top; width: 4.2%;">&#160;</td>
              <td rowspan="1" style="background-color: #35988A; border-right: 3px solid #808080; vertical-align: top; width: 21.59%;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 41.76%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128);">
                <div style="color: rgb(0, 0, 0); font-family: Arial; font-style: italic; font-weight: bold; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Current assets</div>
              </td>
              <td style="width: 6.66%; vertical-align: top;">&#160;</td>
              <td style="width: 4.19%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top;">&#160;</td>
              <td style="width: 4.2%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">&#160;</td>
            </tr>
            <tr>
              <td style="width: 41.76%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128);">
                <div style="color: rgb(0, 0, 0); font-family: Arial; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Cash and cash equivalents</div>
              </td>
              <td style="width: 6.66%; vertical-align: top;">&#160;</td>
              <td style="width: 4.19%; vertical-align: top;">
                <div style="text-align: center; color: rgb(0, 0, 0); font-family: Arial;">$</div>
              </td>
              <td style="width: 21.59%; vertical-align: top;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 67,356</div>
              </td>
              <td style="width: 4.2%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;94,944</div>
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            </tr>
            <tr>
              <td style="width: 41.76%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128);">
                <div style="color: rgb(0, 0, 0); font-family: Arial; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Accounts receivable and accrued revenues</div>
              </td>
              <td style="width: 6.66%; vertical-align: top;">&#160;</td>
              <td style="width: 4.19%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 107,848</div>
              </td>
              <td style="width: 4.2%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;60,196</div>
              </td>
            </tr>
            <tr>
              <td style="width: 41.76%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128);">
                <div style="color: rgb(0, 0, 0); font-family: Arial; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Capitalized voyage expenses</div>
              </td>
              <td style="width: 6.66%; vertical-align: top;">&#160;</td>
              <td style="width: 4.19%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 4,151</div>
              </td>
              <td style="width: 4.2%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,633</div>
              </td>
            </tr>
            <tr>
              <td style="width: 41.76%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128);">
                <div style="color: rgb(0, 0, 0); font-family: Arial; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Prepaid expenses</div>
              </td>
              <td style="width: 6.66%; vertical-align: top;">&#160;</td>
              <td style="width: 4.19%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 4,846<br>
                </div>
              </td>
              <td style="width: 4.2%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;4,338</div>
              </td>
            </tr>
            <tr>
              <td style="border-bottom: 2px solid rgb(128, 128, 128); border-left: 3px solid rgb(128, 128, 128); vertical-align: top; width: 41.76%; background-color: rgb(219, 219, 219);">
                <div style="color: rgb(0, 0, 0); font-family: Arial; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Bunkers, lube oils and consumables</div>
              </td>
              <td style="vertical-align: top; width: 6.66%; padding-bottom: 2px;">&#160;</td>
              <td style="vertical-align: top; width: 4.19%; padding-bottom: 2px;">&#160;</td>
              <td style="border-bottom: 2px solid #808080; vertical-align: top; width: 21.59%;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 34,085</div>
              </td>
              <td style="vertical-align: top; width: 4.2%; padding-bottom: 2px;">&#160;</td>
              <td style="border-bottom: 2px solid rgb(128, 128, 128); border-right: 3px solid rgb(128, 128, 128); vertical-align: top; width: 21.59%;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;32,212</div>
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              <td style="border-bottom: 2px solid rgb(128, 128, 128); border-left: 3px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); vertical-align: top; width: 41.76%; background-color: rgb(219, 219, 219);">
                <div style="color: rgb(0, 0, 0); font-family: Arial; font-weight: bold; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Total current assets</div>
              </td>
              <td style="vertical-align: top; width: 6.66%; padding-bottom: 2px;">&#160;</td>
              <td style="vertical-align: top; width: 4.19%; padding-bottom: 2px;">
                <div style="text-align: center; color: rgb(0, 0, 0); font-family: Arial; font-weight: bold;">$</div>
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              <td style="border-bottom: 2px solid #808080; border-top: 2px solid #808080; vertical-align: top; width: 21.59%;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;218,286</div>
              </td>
              <td style="vertical-align: top; width: 4.2%; padding-bottom: 2px;">&#160;</td>
              <td style="border-bottom: 2px solid #808080; border-right: 3px solid #808080; border-top: 2px solid #808080; vertical-align: top; width: 21.59%;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;193,323</div>
              </td>
            </tr>
            <tr>
              <td style="width: 41.76%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">&#160;</td>
              <td style="width: 6.66%; vertical-align: top;">&#160;</td>
              <td style="width: 4.19%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top;">&#160;</td>
              <td style="width: 4.2%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">&#160;</td>
            </tr>
            <tr>
              <td style="width: 41.76%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128);">
                <div style="color: rgb(0, 0, 0); font-family: Arial; font-style: italic; font-weight: bold; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Non-current assets</div>
              </td>
              <td style="width: 6.66%; vertical-align: top;">&#160;</td>
              <td style="width: 4.19%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top;">&#160;</td>
              <td style="width: 4.2%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">&#160;</td>
            </tr>
            <tr>
              <td style="width: 41.76%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128);">
                <div style="color: rgb(0, 0, 0); font-family: Arial; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Vessels and time charter contracts</div>
              </td>
              <td style="width: 6.66%; vertical-align: top;">
                <div style="text-align: center; color: rgb(0, 0, 0); font-family: Arial;">5</div>
              </td>
              <td style="width: 4.19%; vertical-align: top;">
                <div style="text-align: center; color: rgb(0, 0, 0); font-family: Arial;">$</div>
              </td>
              <td style="width: 21.59%; vertical-align: top;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,589,444</div>
              </td>
              <td style="width: 4.2%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,665,810</div>
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            <tr>
              <td style="width: 41.76%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128);">
                <div style="color: rgb(0, 0, 0); font-family: Arial; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Advances for vessel upgrades</div>
              </td>
              <td style="width: 6.66%; vertical-align: top;">
                <div style="text-align: center; color: rgb(0, 0, 0); font-family: Arial;">5</div>
              </td>
              <td style="width: 4.19%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 11,652</div>
              </td>
              <td style="width: 4.2%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -<br>
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              </td>
            </tr>
            <tr>
              <td style="width: 41.76%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128);">
                <div style="color: rgb(0, 0, 0); font-family: Arial; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Other property, plant and equipment</div>
              </td>
              <td style="width: 6.66%; vertical-align: top;">
                <div style="text-align: center; color: rgb(0, 0, 0); font-family: Arial;">2</div>
              </td>
              <td style="width: 4.19%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 3,065</div>
              </td>
              <td style="width: 4.2%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;335</div>
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            </tr>
            <tr>
              <td style="border-bottom: 2px solid rgb(128, 128, 128); border-left: 3px solid rgb(128, 128, 128); vertical-align: top; width: 41.76%;">
                <div style="color: rgb(0, 0, 0); font-family: Arial; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Investment in associated company</div>
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              <td style="width: 6.66%; vertical-align: top;">&#160;</td>
              <td style="width: 4.19%; vertical-align: top;">&#160;</td>
              <td style="border-bottom: 2px solid #808080; vertical-align: top; width: 21.59%;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;4,772</div>
              </td>
              <td style="width: 4.2%; vertical-align: top;">&#160;</td>
              <td style="border-bottom: 2px solid #808080; border-right: 3px solid #808080; border-top: medium none #808080; vertical-align: top; width: 21.59%;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;4,388</div>
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            </tr>
            <tr>
              <td style="background-color: #CCEEFF; border-bottom: 2px solid #808080; border-left: 3px solid #808080; border-top: 2px solid #808080; vertical-align: top; width: 41.76%;">
                <div style="color: rgb(0, 0, 0); font-family: Arial; font-weight: bold; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Total non-current assets</div>
              </td>
              <td style="width: 6.66%; vertical-align: top;">&#160;</td>
              <td style="width: 4.19%; vertical-align: top;">
                <div style="text-align: center; color: rgb(0, 0, 0); font-family: Arial; font-weight: bold;">$</div>
              </td>
              <td style="border-bottom: 2px solid #808080; border-top: 2px solid #808080; vertical-align: top; width: 21.59%;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,608,932</div>
              </td>
              <td style="width: 4.2%; vertical-align: top;">&#160;</td>
              <td style="border-bottom: 2px solid #808080; border-right: 3px solid #808080; border-top: 2px solid #808080; vertical-align: top; width: 21.59%;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,670,533</div>
              </td>
            </tr>
            <tr>
              <td style="border-bottom: 2px solid rgb(149, 149, 149); border-left: 3px solid rgb(128, 128, 128); vertical-align: top; width: 41.76%; font-variant: normal; text-transform: none; background-color: rgb(219, 219, 219);">&#160;</td>
              <td style="width: 6.66%; vertical-align: top;">&#160;</td>
              <td style="width: 4.19%; vertical-align: top;">&#160;</td>
              <td style="border-bottom: 2px solid rgb(128, 128, 128); vertical-align: top; width: 21.59%;">&#160;</td>
              <td style="width: 4.2%; vertical-align: top;">&#160;</td>
              <td style="border-bottom: 2px solid rgb(128, 128, 128); border-right: 3px solid rgb(128, 128, 128); vertical-align: top; width: 21.59%;">&#160;</td>
            </tr>
            <tr>
              <td style="border-bottom: 2px solid #808080; border-left: 3px solid #808080; border-top: 2px solid #808080; vertical-align: top; width: 41.76%;">
                <div style="color: rgb(0, 0, 0); font-family: Arial; font-weight: bold; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">TOTAL ASSETS</div>
              </td>
              <td style="width: 6.66%; vertical-align: top;">&#160;</td>
              <td style="width: 4.19%; vertical-align: top;">
                <div style="text-align: center; color: rgb(0, 0, 0); font-family: Arial; font-weight: bold;">$</div>
              </td>
              <td style="border-bottom: 2px solid #808080; border-top: 2px solid #808080; vertical-align: top; width: 21.59%;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,827,218</div>
              </td>
              <td style="width: 4.2%; vertical-align: top;">&#160;</td>
              <td style="border-bottom: 2px solid #808080; border-right: 3px solid #808080; border-top: 2px solid #808080; vertical-align: top; width: 21.59%;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,863,856</div>
              </td>
            </tr>
            <tr>
              <td style="width: 41.76%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">&#160;</td>
              <td style="width: 6.66%; vertical-align: top;">&#160;</td>
              <td style="width: 4.19%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top;">&#160;</td>
              <td style="width: 4.2%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">&#160;</td>
            </tr>
            <tr>
              <td rowspan="1" style="background-color: #35988A; border-left: 3px solid #808080; vertical-align: top; width: 41.76%; font-weight: bold;"><font style="font-family: Arial; color: rgb(255, 255, 255);">LIABILITIES AND EQUITY</font></td>
              <td rowspan="1" style="background-color: #35988A; vertical-align: top; width: 6.66%;">&#160;</td>
              <td rowspan="1" style="background-color: #35988A; vertical-align: top; width: 4.19%;">&#160;</td>
              <td rowspan="1" style="background-color: #35988A; vertical-align: top; width: 21.59%;">&#160;</td>
              <td rowspan="1" style="background-color: #35988A; vertical-align: top; width: 4.2%;">&#160;</td>
              <td rowspan="1" style="background-color: #35988A; border-right: 3px solid #808080; vertical-align: top; width: 21.59%;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 41.76%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128);">
                <div style="color: rgb(0, 0, 0); font-family: Arial; font-style: italic; font-weight: bold; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Current liabilities</div>
              </td>
              <td style="width: 6.66%; vertical-align: top;">&#160;</td>
              <td style="width: 4.19%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top;">&#160;</td>
              <td style="width: 4.2%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">&#160;</td>
            </tr>
            <tr>
              <td style="width: 41.76%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128);">
                <div style="color: rgb(0, 0, 0); font-family: Arial; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Accounts payable and accrued expenses</div>
              </td>
              <td style="width: 6.66%; vertical-align: top;">&#160;</td>
              <td style="width: 4.19%; vertical-align: top;">
                <div style="text-align: center; color: rgb(0, 0, 0); font-family: Arial;">$</div>
              </td>
              <td style="width: 21.59%; vertical-align: top;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">23,998</div>
              </td>
              <td style="width: 4.2%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">28,634</div>
              </td>
            </tr>
            <tr>
              <td style="width: 41.76%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128);">
                <div style="color: rgb(0, 0, 0); font-family: Arial; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Derivative financial liabilities</div>
              </td>
              <td style="width: 6.66%; vertical-align: top;">
                <div style="text-align: center; color: rgb(0, 0, 0); font-family: Arial;">4</div>
              </td>
              <td style="width: 4.19%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;4,320</div>
              </td>
              <td style="width: 4.2%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">1,250</div>
              </td>
            </tr>
            <tr>
              <td style="width: 41.76%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128);">
                <div style="color: rgb(0, 0, 0); font-family: Arial; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Current portion long-term debt</div>
              </td>
              <td style="width: 6.66%; vertical-align: top;">
                <div style="text-align: center; color: rgb(0, 0, 0); font-family: Arial;">4</div>
              </td>
              <td style="width: 4.19%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 100,385<br>
                </div>
              </td>
              <td style="width: 4.2%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">93,815</div>
              </td>
            </tr>
            <tr>
              <td rowspan="1" style="background-color: rgb(217, 217, 217); border-bottom: 0px none; border-left: 3px solid rgb(128, 128, 128); vertical-align: top; width: 41.76%;"><font style="font-family: Arial;">Other current liabilities</font> <br>
              </td>
              <td rowspan="1" style="vertical-align: top; width: 6.66%; padding-bottom: 0px; text-align: center; font-family: Arial;">2</td>
              <td rowspan="1" style="vertical-align: top; width: 4.19%; padding-bottom: 0px; font-family: Arial;">&#160;</td>
              <td rowspan="1" style="border-bottom: 0px none; vertical-align: top; width: 21.59%; font-family: Arial; text-align: right;">605 <br>
              </td>
              <td rowspan="1" style="vertical-align: top; width: 4.2%; padding-bottom: 0px;">&#160;</td>
              <td rowspan="1" style="border-right: 3px solid rgb(128, 128, 128); vertical-align: top; width: 21.59%; text-align: right; padding-bottom: 0px;">- <br>
              </td>
            </tr>
            <tr>
              <td style="border-bottom: 2px solid rgb(128, 128, 128); border-left: 3px solid rgb(128, 128, 128); vertical-align: top; width: 41.76%; background-color: rgb(219, 219, 219);">
                <div style="color: rgb(0, 0, 0); font-family: Arial; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Deferred shipping revenues<br>
                </div>
              </td>
              <td style="vertical-align: top; width: 6.66%; padding-bottom: 2px;">
                <div style="text-align: center; color: rgb(0, 0, 0); font-family: Arial;"><br>
                </div>
              </td>
              <td style="vertical-align: top; width: 4.19%; padding-bottom: 2px;">&#160;</td>
              <td style="border-bottom: 2px solid rgb(128, 128, 128); vertical-align: top; width: 21.59%;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 930<br>
                </div>
              </td>
              <td style="vertical-align: top; width: 4.2%; padding-bottom: 2px;">&#160;</td>
              <td style="border-bottom: 2px solid rgb(128, 128, 128); border-right: 3px solid rgb(128, 128, 128); vertical-align: top; width: 21.59%;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -<br>
                </div>
              </td>
            </tr>
            <tr>
              <td style="border-bottom: 2px solid rgb(128, 128, 128); border-left: 3px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); vertical-align: top; width: 41.76%; background-color: rgb(255, 255, 255);">
                <div style="color: rgb(0, 0, 0); font-family: Arial; font-weight: bold; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Total current liabilities</div>
              </td>
              <td style="vertical-align: top; width: 6.66%; padding-bottom: 2px;">&#160;</td>
              <td style="vertical-align: top; width: 4.19%; padding-bottom: 2px;">
                <div style="text-align: center; color: rgb(0, 0, 0); font-family: Arial; font-weight: bold;">$</div>
              </td>
              <td style="border-bottom: 2px solid #808080; border-top: 2px solid #808080; vertical-align: top; width: 21.59%;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial; font-weight: bold;">130,239</div>
              </td>
              <td style="vertical-align: top; width: 4.2%; padding-bottom: 2px;">&#160;</td>
              <td style="border-bottom: 2px solid #808080; border-right: 3px solid #808080; border-top: 2px solid #808080; vertical-align: top; width: 21.59%;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;123,699</div>
              </td>
            </tr>
            <tr>
              <td style="width: 41.76%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">&#160;</td>
              <td style="width: 6.66%; vertical-align: top;">&#160;</td>
              <td style="width: 4.19%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top;">&#160;</td>
              <td style="width: 4.2%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">&#160;</td>
            </tr>
            <tr>
              <td style="width: 41.76%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128);">
                <div style="color: rgb(0, 0, 0); font-family: Arial; font-style: italic; font-weight: bold; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Non-current liabilities</div>
              </td>
              <td style="width: 6.66%; vertical-align: top;">&#160;</td>
              <td style="width: 4.19%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top;">&#160;</td>
              <td style="width: 4.2%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">&#160;</td>
            </tr>
            <tr>
              <td style="width: 41.76%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(219, 219, 219);">
                <div style="color: rgb(0, 0, 0); font-family: Arial; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Long-term debt</div>
              </td>
              <td style="width: 6.66%; vertical-align: top;">
                <div style="text-align: center; color: rgb(0, 0, 0); font-family: Arial;">4</div>
              </td>
              <td style="width: 4.19%; vertical-align: top;">
                <div style="text-align: center; color: rgb(0, 0, 0); font-family: Arial;">$</div>
              </td>
              <td style="width: 21.59%; vertical-align: top;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">750,586</div>
              </td>
              <td style="width: 4.2%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;873,460</div>
              </td>
            </tr>
            <tr>
              <td style="width: 41.76%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128);">
                <div style="color: rgb(0, 0, 0); font-family: Arial; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Derivative financial liabilities</div>
              </td>
              <td style="width: 6.66%; vertical-align: top;">
                <div style="text-align: center; color: rgb(0, 0, 0); font-family: Arial;">4</div>
              </td>
              <td style="width: 4.19%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">11,279</div>
              </td>
              <td style="width: 4.2%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;4,486</div>
              </td>
            </tr>
            <tr>
              <td style="border-bottom: 2px solid rgb(128, 128, 128); border-left: 3px solid rgb(128, 128, 128); vertical-align: top; width: 41.76%; background-color: rgb(219, 219, 219);">
                <div style="color: rgb(0, 0, 0); font-family: Arial; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Other non-current liabilities</div>
              </td>
              <td style="vertical-align: top; width: 6.66%; padding-bottom: 2px;">
                <div style="text-align: center; color: rgb(0, 0, 0); font-family: Arial;">2</div>
              </td>
              <td style="vertical-align: top; width: 4.19%; padding-bottom: 2px;">&#160;</td>
              <td style="border-bottom: 2px solid rgb(128, 128, 128); vertical-align: top; width: 21.59%;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">2,664</div>
              </td>
              <td style="vertical-align: top; width: 4.2%; padding-bottom: 2px;">&#160;</td>
              <td style="border-bottom: 2px solid rgb(128, 128, 128); border-right: 3px solid rgb(128, 128, 128); vertical-align: top; width: 21.59%;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;542</div>
              </td>
            </tr>
            <tr>
              <td style="border-bottom: 2px solid rgb(128, 128, 128); border-left: 3px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); vertical-align: top; width: 41.76%; background-color: rgb(219, 219, 219);">
                <div style="color: rgb(0, 0, 0); font-family: Arial; font-weight: bold; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Total non-current liabilities</div>
              </td>
              <td style="vertical-align: top; width: 6.66%; padding-bottom: 2px;">&#160;</td>
              <td style="vertical-align: top; width: 4.19%; padding-bottom: 2px;">
                <div style="text-align: center; color: rgb(0, 0, 0); font-family: Arial; font-weight: bold;">$</div>
              </td>
              <td style="border-bottom: 2px solid #808080; border-top: 2px solid #808080; vertical-align: top; width: 21.59%;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 764,530</div>
              </td>
              <td style="vertical-align: top; width: 4.2%; padding-bottom: 2px;">&#160;</td>
              <td style="border-bottom: 2px solid #808080; border-right: 3px solid #808080; border-top: 2px solid #808080; vertical-align: top; width: 21.59%;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;878,489</div>
              </td>
            </tr>
            <tr>
              <td style="border-bottom: 2px solid rgb(128, 128, 128); border-left: 3px solid rgb(128, 128, 128); vertical-align: top; width: 41.76%; font-variant: normal; text-transform: none; background-color: rgb(219, 219, 219);">&#160;</td>
              <td style="vertical-align: top; width: 6.66%; padding-bottom: 2px;">&#160;</td>
              <td style="vertical-align: top; width: 4.19%; padding-bottom: 2px;">&#160;</td>
              <td style="border-bottom: 2px solid rgb(128, 128, 128); vertical-align: top; width: 21.59%;">&#160;</td>
              <td style="vertical-align: top; width: 4.2%; padding-bottom: 2px;">&#160;</td>
              <td style="border-bottom: 2px solid rgb(128, 128, 128); border-right: 3px solid rgb(128, 128, 128); vertical-align: top; width: 21.59%;">&#160;</td>
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            <tr>
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              <td style="vertical-align: top; width: 6.66%; padding-bottom: 2px;">&#160;</td>
              <td style="vertical-align: top; width: 4.19%; padding-bottom: 2px;">
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                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 894,768</div>
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              <td style="vertical-align: top; width: 4.2%; padding-bottom: 2px;">&#160;</td>
              <td style="border-bottom: 2px solid #808080; border-right: 3px solid #808080; border-top: 2px solid #808080; vertical-align: top; width: 21.59%;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,002,188</div>
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            </tr>
            <tr>
              <td style="width: 41.76%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">&#160;</td>
              <td style="width: 6.66%; vertical-align: top;">&#160;</td>
              <td style="width: 4.19%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top;">&#160;</td>
              <td style="width: 4.2%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">&#160;</td>
            </tr>
            <tr>
              <td style="width: 41.76%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128);">
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              <td style="width: 6.66%; vertical-align: top;">&#160;</td>
              <td style="width: 4.19%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top;">&#160;</td>
              <td style="width: 4.2%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">&#160;</td>
            </tr>
            <tr>
              <td style="width: 41.76%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128);">
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              <td style="width: 6.66%; vertical-align: top;">
                <div style="text-align: center; color: rgb(0, 0, 0); font-family: Arial;">6</div>
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              <td style="width: 4.19%; vertical-align: top;">
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              <td style="width: 21.59%; vertical-align: top;">
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              <td style="width: 4.2%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,427</div>
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            </tr>
            <tr>
              <td style="width: 41.76%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128);">
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              <td style="width: 6.66%; vertical-align: top;">
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              <td style="width: 4.19%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,169,537</div>
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              <td style="width: 4.2%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,145,107</div>
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            </tr>
            <tr>
              <td style="width: 41.76%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128);">
                <div style="color: rgb(0, 0, 0); font-family: Arial; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Treasury shares</div>
              </td>
              <td style="width: 6.66%; vertical-align: top;">
                <div style="text-align: center; color: rgb(0, 0, 0); font-family: Arial;">7</div>
              </td>
              <td style="width: 4.19%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; - <br>
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              </td>
              <td style="width: 4.2%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(1,364)</div>
              </td>
            </tr>
            <tr>
              <td style="width: 41.76%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128);">
                <div style="color: rgb(0, 0, 0); font-family: Arial; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Accumulated deficit</div>
              </td>
              <td style="width: 6.66%; vertical-align: top;">&#160;</td>
              <td style="width: 4.19%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(240,165)</div>
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              <td style="width: 4.2%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(285,383)</div>
              </td>
            </tr>
            <tr>
              <td style="width: 41.76%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128);">
                <div style="color: rgb(0, 0, 0); font-family: Arial; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Translation differences</div>
              </td>
              <td style="width: 6.66%; vertical-align: top;">&#160;</td>
              <td style="width: 4.19%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 73</div>
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              <td style="width: 4.2%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;32</div>
              </td>
            </tr>
            <tr>
              <td style="width: 41.76%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128);">
                <div style="color: rgb(0, 0, 0); font-family: Arial; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Other reserves</div>
              </td>
              <td style="width: 6.66%; vertical-align: top;">&#160;</td>
              <td style="width: 4.19%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,531</div>
              </td>
              <td style="width: 4.2%; vertical-align: top;">&#160;</td>
              <td style="width: 21.59%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,848</div>
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            </tr>
            <tr>
              <td style="border-bottom: 2px solid rgb(128, 128, 128); border-left: 3px solid rgb(128, 128, 128); vertical-align: top; width: 41.76%;">
                <div style="color: rgb(0, 0, 0); font-family: Arial; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Non-controlling interest</div>
              </td>
              <td style="width: 6.66%; vertical-align: top;">&#160;</td>
              <td style="width: 4.19%; vertical-align: top;">&#160;</td>
              <td style="border-bottom: 2px solid #808080; vertical-align: top; width: 21.59%;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 5<br>
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              </td>
              <td style="width: 4.2%; vertical-align: top;">&#160;</td>
              <td style="border-bottom: 2px solid rgb(128, 128, 128); border-right: 3px solid rgb(128, 128, 128); vertical-align: top; width: 21.59%;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; - </div>
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            </tr>
            <tr>
              <td style="border-bottom: 2px solid #808080; border-left: 3px solid #808080; border-top: 2px solid #808080; vertical-align: top; width: 41.76%;">
                <div style="color: rgb(0, 0, 0); font-family: Arial; font-weight: bold; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">Total equity</div>
              </td>
              <td style="width: 6.66%; vertical-align: top;">&#160;</td>
              <td style="width: 4.19%; vertical-align: top;">
                <div style="text-align: center; color: rgb(0, 0, 0); font-family: Arial; font-weight: bold;">$</div>
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              <td style="border-bottom: 2px solid #808080; border-top: 2px solid #808080; vertical-align: top; width: 21.59%;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 932,449</div>
              </td>
              <td style="width: 4.2%; vertical-align: top;">&#160;</td>
              <td style="border-bottom: 2px solid #808080; border-right: 3px solid #808080; border-top: 2px solid #808080; vertical-align: top; width: 21.59%;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;861,668</div>
              </td>
            </tr>
            <tr>
              <td style="border-bottom: 2px solid rgb(128, 128, 128); border-left: 3px solid rgb(128, 128, 128); vertical-align: top; width: 41.76%; font-variant: normal; text-transform: none; background-color: rgb(219, 219, 219);">&#160;</td>
              <td style="width: 6.66%; vertical-align: top;">&#160;</td>
              <td style="width: 4.19%; vertical-align: top;">&#160;</td>
              <td style="border-bottom: 2px solid rgb(128, 128, 128); vertical-align: top; width: 21.59%;">&#160;</td>
              <td style="width: 4.2%; vertical-align: top;">&#160;</td>
              <td style="border-bottom: 2px solid rgb(128, 128, 128); border-right: 3px solid rgb(128, 128, 128); vertical-align: top; width: 21.59%;">&#160;</td>
            </tr>
            <tr>
              <td style="border-bottom: 3px solid #808080; border-left: 3px solid #808080; border-top: 2px solid #808080; vertical-align: top; width: 41.76%;">
                <div style="color: rgb(0, 0, 0); font-family: Arial; font-weight: bold; background-color: rgb(217, 217, 217); font-variant: normal; text-transform: none;">TOTAL LIABILITIES AND EQUITY</div>
              </td>
              <td style="width: 6.66%; vertical-align: top; border-bottom: 3px solid rgb(128, 128, 128);">&#160;</td>
              <td style="width: 4.19%; vertical-align: top; border-bottom: 3px solid rgb(128, 128, 128);">
                <div style="text-align: center; color: rgb(0, 0, 0); font-family: Arial; font-weight: bold;">$</div>
              </td>
              <td style="border-bottom: 3px solid #808080; border-top: 2px solid #808080; vertical-align: top; width: 21.59%;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial; font-weight: bold;">1,827,218</div>
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              <td style="width: 4.2%; vertical-align: top; border-bottom: 3px solid rgb(128, 128, 128);">&#160;</td>
              <td style="border-bottom: 3px solid #808080; border-right: 3px solid #808080; border-top: 2px solid #808080; vertical-align: top; width: 21.59%;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: Arial; font-weight: bold;">1,863,856</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="text-align: center; font-family: Arial; font-size: 8pt; font-style: italic;">The accompanying notes are an integral part of these unaudited condensed consolidated financial statements</div>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: Arial; font-size: 8pt; font-weight: normal; font-style: normal;">8</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;" noshade="noshade"></div>
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        <div><br>
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        <div style="text-align: center; font-family: Arial; font-weight: bold;"><u>CONDENSED CONSOLIDATED INCOME STATEMENT (UNAUDITED)</u></div>
        <div style="text-align: center; font-family: Arial;">($ in thousands except per share amounts)</div>
        <div><br>
        </div>
        <div>
          <div>
            <table id="zdbbca08747d74123aa514153baa62ed8" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%; BORDER-COLLAPSE: collapse" border="0" cellpadding="1" cellspacing="0">

                <tr style="HEIGHT: 20px">
                  <td style="border-top: 3px solid rgb(128, 128, 128); width: 42.95%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(36, 64, 98);">&#160;</td>
                  <td style="border-top: 3px solid rgb(128, 128, 128); vertical-align: middle; text-align: center; background-color: rgb(36, 64, 98);" colspan="2">&#160;</td>
                  <td style="border-top: 3px solid rgb(128, 128, 128); width: 12.8%; vertical-align: middle; text-align: center; background-color: rgb(36, 64, 98);">
                    <div style="font-weight: bold; color: rgb(255, 255, 255); line-height: 9.1pt;">Q4 2019</div>
                  </td>
                  <td style="border-top: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; text-align: center; background-color: rgb(36, 64, 98);">
                    <div style="font-weight: bold; color: rgb(255, 255, 255); line-height: 9.1pt;">Q4 2018</div>
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                  <td style="border-top: 3px solid rgb(128, 128, 128); width: 2%; vertical-align: middle; text-align: center; background-color: rgb(36, 64, 98);">&#160;</td>
                  <td style="border-top: 3px solid rgb(128, 128, 128); width: 12.94%; vertical-align: middle; text-align: center; background-color: rgb(36, 64, 98);">
                    <div style="font-weight: bold; color: rgb(255, 255, 255); line-height: 9.1pt;">12 months 2019</div>
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                  <td style="border-top: 3px solid rgb(128, 128, 128); border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; text-align: center; background-color: rgb(36, 64, 98);">
                    <div style="font-weight: bold; color: rgb(255, 255, 255); line-height: 9.1pt;">12 months 2018</div>
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                </tr>
                <tr>
                  <td style="width: 42.95%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(36, 64, 98);">&#160;</td>
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                    <div style="font-weight: bold; color: rgb(255, 255, 255); line-height: 9.1pt; text-align: left;">Note</div>
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                  <td style="WIDTH: 12.8%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #808080 2px solid; TEXT-ALIGN: center; BACKGROUND-COLOR: #244062">
                    <div style="font-weight: bold; color: rgb(255, 255, 255); line-height: 9.1pt;">Oct. 1 - Dec. 31,</div>
                    <div style="font-weight: bold; color: rgb(255, 255, 255); line-height: 9.1pt;">2019</div>
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                  <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #808080 2px solid; TEXT-ALIGN: center; BACKGROUND-COLOR: #244062" colspan="2">
                    <div style="font-weight: bold; color: rgb(255, 255, 255); line-height: 9.1pt;">Oct. 1 - Dec. 31,</div>
                    <div style="font-weight: bold; color: rgb(255, 255, 255); line-height: 9.1pt;">2018</div>
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                  <td style="WIDTH: 12.94%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #808080 2px solid; TEXT-ALIGN: center; BACKGROUND-COLOR: #244062">
                    <div style="font-weight: bold; color: rgb(255, 255, 255); line-height: 9.1pt;">Jan. 1 - Dec. 31,</div>
                    <div style="font-weight: bold; color: rgb(255, 255, 255); line-height: 9.1pt;">2019</div>
                  </td>
                  <td style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: center; background-color: rgb(36, 64, 98);">
                    <div style="font-weight: bold; color: rgb(255, 255, 255); line-height: 9.1pt;">Jan. 1 - Dec. 31,</div>
                    <div style="font-weight: bold; color: rgb(255, 255, 255); line-height: 9.1pt;">2018</div>
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                <tr style="HEIGHT: 14px">
                  <td style="width: 42.95%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                    <div style="font-weight: bold; color: rgb(0, 0, 0); line-height: 9.1pt;">Shipping revenues</div>
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                  <td style="WIDTH: 3%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff">
                    <div style="font-weight: bold; color: #000000; line-height: 9.1pt;"><br>
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                    <div style="font-weight: bold; color: rgb(0, 0, 0); line-height: 9.1pt;">$</div>
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                  <td style="width: 12.8%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">191,835<br>
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                  <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">138,620<br>
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                  <td style="width: 2%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255); font-weight: bold;">$<br>
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                  <td style="width: 12.94%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">535,068<br>
                  </td>
                  <td style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">375,941<br>
                  </td>
                </tr>
                <tr>
                  <td style="width: 42.95%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">&#160;</td>
                  <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 2%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="WIDTH: 12.8%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="WIDTH: 12%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="WIDTH: 2%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="WIDTH: 12.94%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                  </td>
                </tr>
                <tr style="HEIGHT: 17px">
                  <td style="width: 42.95%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                    <div style="font-weight: bold; color: rgb(0, 0, 0); font-style: italic; line-height: 9.1pt;">Operating expenses</div>
                  </td>
                  <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 2%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="WIDTH: 12.8%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="WIDTH: 12%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="WIDTH: 2%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="WIDTH: 12.94%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                  </td>
                </tr>
                <tr>
                  <td style="width: 42.95%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">Voyage expenses</div>
                  </td>
                  <td style="WIDTH: 3%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff">
                    <div style="color: #000000; line-height: 9.1pt;"><br>
                    </div>
                  </td>
                  <td style="width: 2%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="WIDTH: 12.8%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">(50,140)<br>
                  </td>
                  <td style="WIDTH: 12%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">(53,389)<br>
                  </td>
                  <td style="WIDTH: 2%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="WIDTH: 12.94%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">(187,500)<br>
                  </td>
                  <td style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(161,891)<br>
                  </td>
                </tr>
                <tr>
                  <td style="width: 42.95%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">Vessel operating expenses</div>
                  </td>
                  <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 2%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="WIDTH: 12.8%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">(21,874)<br>
                  </td>
                  <td style="WIDTH: 12%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">(21,219)<br>
                  </td>
                  <td style="WIDTH: 2%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="WIDTH: 12.94%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">(78,327)<br>
                  </td>
                  <td style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(75,800)<br>
                  </td>
                </tr>
                <tr>
                  <td style="width: 42.95%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">Depreciation and amortization</div>
                  </td>
                  <td style="WIDTH: 3%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">5</div>
                  </td>
                  <td style="width: 2%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="WIDTH: 12.8%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">(30,663)<br>
                  </td>
                  <td style="WIDTH: 12%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">(28,251)<br>
                  </td>
                  <td style="WIDTH: 2%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="WIDTH: 12.94%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">(115,584)<br>
                  </td>
                  <td style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(103,476)<br>
                  </td>
                </tr>
                <tr>
                  <td style="width: 42.95%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">Impairment charges</div>
                  </td>
                  <td style="WIDTH: 3%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">5</div>
                  </td>
                  <td style="width: 2%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 12.8%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">-<br>
                  </td>
                  <td style="WIDTH: 12%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">-<br>
                  </td>
                  <td style="WIDTH: 2%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="width: 12.94%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">-<br>
                  </td>
                  <td style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(3,500)<br>
                  </td>
                </tr>
                <tr>
                  <td style="width: 42.95%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">Profit/(loss), sale of vessel</div>
                  </td>
                  <td style="WIDTH: 3%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff">
                    <div style="color: #000000; line-height: 9.1pt;"><br>
                    </div>
                  </td>
                  <td style="width: 2%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 12.8%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">-<br>
                  </td>
                  <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">122<br>
                  </td>
                  <td style="WIDTH: 2%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="width: 12.94%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">-<br>
                  </td>
                  <td style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">75<br>
                  </td>
                </tr>
                <tr>
                  <td style="width: 42.95%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">General and administrative expense</div>
                  </td>
                  <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 2%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="WIDTH: 12.8%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">(3,523)<br>
                  </td>
                  <td style="WIDTH: 12%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">(2,669)<br>
                  </td>
                  <td style="WIDTH: 2%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="WIDTH: 12.94%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">(14,789)<br>
                  </td>
                  <td style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(15,052)<br>
                  </td>
                </tr>
                <tr>
                  <td style="border-top: 2px solid rgb(128, 128, 128); width: 42.95%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                    <div style="font-weight: bold; color: rgb(0, 0, 0); line-height: 9.1pt;">Total operating expenses</div>
                  </td>
                  <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="WIDTH: 2%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff">
                    <div style="font-weight: bold; color: rgb(0, 0, 0); line-height: 9.1pt;">$</div>
                  </td>
                  <td style="border-top: 2px solid rgb(128, 128, 128); width: 12.8%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">(106,200)<br>
                  </td>
                  <td style="border-top: 2px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">(105,406)<br>
                  </td>
                  <td style="width: 2%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255); font-weight: bold;">$<br>
                  </td>
                  <td style="border-top: 2px solid rgb(128, 128, 128); width: 12.94%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">(396,201)<br>
                  </td>
                  <td style="border-top: 2px solid rgb(128, 128, 128); border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">(359,644)<br>
                  </td>
                </tr>
                <tr>
                  <td style="width: 42.95%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">&#160;</td>
                  <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 2%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="WIDTH: 12.8%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="WIDTH: 12%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="WIDTH: 2%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="WIDTH: 12.94%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                  </td>
                </tr>
                <tr>
                  <td style="width: 42.95%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">&#160;</td>
                  <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 2%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="WIDTH: 12.8%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="WIDTH: 12%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="WIDTH: 2%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="WIDTH: 12.94%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                  </td>
                </tr>
                <tr>
                  <td style="border-top: 2px solid rgb(128, 128, 128); width: 42.95%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                    <div style="font-weight: bold; color: rgb(0, 0, 0); line-height: 9.1pt;">Operating income/(loss)</div>
                  </td>
                  <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="WIDTH: 2%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff">
                    <div style="font-weight: bold; color: rgb(0, 0, 0); line-height: 9.1pt;">$</div>
                  </td>
                  <td style="border-top: 2px solid rgb(128, 128, 128); width: 12.8%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">85,635<br>
                  </td>
                  <td style="border-top: 2px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">33,214<br>
                  </td>
                  <td style="width: 2%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255); font-weight: bold;">$<br>
                  </td>
                  <td style="border-top: 2px solid rgb(128, 128, 128); width: 12.94%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">138,867<br>
                  </td>
                  <td style="border-top: 2px solid rgb(128, 128, 128); border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">16,297<br>
                  </td>
                </tr>
                <tr>
                  <td style="width: 42.95%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">&#160;</td>
                  <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 2%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="WIDTH: 12.8%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="WIDTH: 12%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="WIDTH: 2%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="WIDTH: 12.94%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                  </td>
                </tr>
                <tr>
                  <td style="width: 42.95%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">Share of profit from associated companies</div>
                  </td>
                  <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 2%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="WIDTH: 12.8%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">267<br>
                  </td>
                  <td style="WIDTH: 12%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">217<br>
                  </td>
                  <td style="WIDTH: 2%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="WIDTH: 12.94%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">852<br>
                  </td>
                  <td style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">858<br>
                  </td>
                </tr>
                <tr>
                  <td style="width: 42.95%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">Interest income</div>
                  </td>
                  <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 2%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="WIDTH: 12.8%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">357<br>
                  </td>
                  <td style="WIDTH: 12%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">120<br>
                  </td>
                  <td style="WIDTH: 2%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="WIDTH: 12.94%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">1,077<br>
                  </td>
                  <td style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">345<br>
                  </td>
                </tr>
                <tr>
                  <td style="width: 42.95%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">Interest expense</div>
                  </td>
                  <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 2%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="WIDTH: 12.8%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">(13,016)<br>
                  </td>
                  <td style="WIDTH: 12%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">(14,784)<br>
                  </td>
                  <td style="WIDTH: 2%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="WIDTH: 12.94%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">(55,332)<br>
                  </td>
                  <td style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(54,211)<br>
                  </td>
                </tr>
                <tr>
                  <td style="width: 42.95%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">Fair value gain/(loss) on derivative financial instruments</div>
                  </td>
                  <td style="width: 3%; vertical-align: middle; text-align: center;">&#160;</td>
                  <td style="width: 2%; vertical-align: middle; text-align: center;">&#160;</td>
                  <td style="WIDTH: 12.8%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">2,990<br>
                  </td>
                  <td style="WIDTH: 12%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">(6,222)<br>
                  </td>
                  <td style="WIDTH: 2%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="WIDTH: 12.94%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">(9,863)<br>
                  </td>
                  <td style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(5,191)<br>
                  </td>
                </tr>
                <tr>
                  <td style="width: 42.95%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">Other financial income/(expenses)</div>
                  </td>
                  <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 2%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="WIDTH: 12.8%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">(350)<br>
                  </td>
                  <td style="WIDTH: 12%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">(579)<br>
                  </td>
                  <td style="WIDTH: 2%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="WIDTH: 12.94%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">(1,790)<br>
                  </td>
                  <td style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(4,943)<br>
                  </td>
                </tr>
                <tr>
                  <td style="border-top: 2px solid rgb(128, 128, 128); width: 42.95%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                    <div style="font-weight: bold; color: rgb(0, 0, 0); line-height: 9.1pt;">Profit/(loss) before tax</div>
                  </td>
                  <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="WIDTH: 2%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff">
                    <div style="font-weight: bold; color: rgb(0, 0, 0); line-height: 9.1pt;">$</div>
                  </td>
                  <td style="border-top: 2px solid rgb(128, 128, 128); width: 12.8%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">75,882<br>
                  </td>
                  <td style="border-top: 2px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">11,967<br>
                  </td>
                  <td style="width: 2%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255); font-weight: bold;">$<br>
                  </td>
                  <td style="border-top: 2px solid rgb(128, 128, 128); width: 12.94%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">73,812<br>
                  </td>
                  <td style="border-top: 2px solid rgb(128, 128, 128); border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">(46,845)<br>
                  </td>
                </tr>
                <tr>
                  <td style="width: 42.95%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);"><br>
                  </td>
                  <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 2%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="WIDTH: 12.8%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="WIDTH: 12%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="WIDTH: 2%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="WIDTH: 12.94%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                  </td>
                </tr>
                <tr>
                  <td style="width: 42.95%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">Income tax expense</div>
                  </td>
                  <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 2%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="WIDTH: 12.8%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">(20)<br>
                  </td>
                  <td style="WIDTH: 12%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">16<br>
                  </td>
                  <td style="WIDTH: 2%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="WIDTH: 12.94%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">(131)<br>
                  </td>
                  <td style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(83)<br>
                  </td>
                </tr>
                <tr>
                  <td style="border-top: 2px solid rgb(128, 128, 128); width: 42.95%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                    <div style="font-weight: bold; color: rgb(0, 0, 0); line-height: 9.1pt;">Net income/(loss) after tax</div>
                  </td>
                  <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="WIDTH: 2%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff">
                    <div style="font-weight: bold; color: rgb(0, 0, 0); line-height: 9.1pt;">$</div>
                  </td>
                  <td style="border-top: 2px solid rgb(128, 128, 128); width: 12.8%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">75,862<br>
                  </td>
                  <td style="border-top: 2px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">11,983<br>
                  </td>
                  <td style="width: 2%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255); font-weight: bold;">$<br>
                  </td>
                  <td style="border-top: 2px solid rgb(128, 128, 128); width: 12.94%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">73,680<br>
                  </td>
                  <td style="border-top: 2px solid rgb(128, 128, 128); border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">(46,927)<br>
                  </td>
                </tr>
                <tr>
                  <td rowspan="1" style="width: 42.95%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">Attributible to non-controlling interest <br>
                  </td>
                  <td rowspan="1" style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td rowspan="1" style="width: 2%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td rowspan="1" style="WIDTH: 12.8%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">5 <br>
                  </td>
                  <td rowspan="1" style="WIDTH: 12%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">- <br>
                  </td>
                  <td rowspan="1" style="width: 2%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td rowspan="1" style="WIDTH: 12.94%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">2<br>
                  </td>
                  <td rowspan="1" style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">-<br>
                  </td>
                </tr>
                <tr>
                  <td style="width: 42.95%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">Attributable to the owners of parent</div>
                  </td>
                  <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="WIDTH: 2%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">$</div>
                  </td>
                  <td style="WIDTH: 12.8%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">75,856<br>
                  </td>
                  <td style="WIDTH: 12%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">11,983<br>
                  </td>
                  <td style="WIDTH: 2%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff">$<br>
                  </td>
                  <td style="WIDTH: 12.94%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">73,679<br>
                  </td>
                  <td style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(46,927)<br>
                  </td>
                </tr>
                <tr>
                  <td style="width: 42.95%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">&#160;</td>
                  <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 2%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="WIDTH: 12.8%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="WIDTH: 12%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="WIDTH: 2%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="WIDTH: 12.94%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                  </td>
                </tr>
                <tr>
                  <td style="width: 42.95%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">&#160;</td>
                  <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 2%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="WIDTH: 12.8%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="WIDTH: 12%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="WIDTH: 2%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="WIDTH: 12.94%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                  </td>
                </tr>
                <tr>
                  <td style="width: 42.95%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">Basic net income/(loss) per share</div>
                  </td>
                  <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 2%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="WIDTH: 12.8%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">0.52<br>
                  </td>
                  <td style="WIDTH: 12%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">0.08<br>
                  </td>
                  <td style="WIDTH: 2%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="WIDTH: 12.94%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">0.51<br>
                  </td>
                  <td style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(0.33)<br>
                  </td>
                </tr>
                <tr>
                  <td style="width: 42.95%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">Diluted net income/(loss) per share</div>
                  </td>
                  <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 2%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 12.8%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">0.47</td>
                  <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">0.08</td>
                  <td style="WIDTH: 2%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="width: 12.94%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">0.51</td>
                  <td style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(0.33)</td>
                </tr>
                <tr>
                  <td style="width: 42.95%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">&#160;</td>
                  <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 2%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="WIDTH: 12.8%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="WIDTH: 12%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="WIDTH: 2%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="WIDTH: 12.94%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                  </td>
                </tr>
                <tr style="HEIGHT: 19px">
                  <td style="width: 42.95%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">Weighted average number of shares (basic)</div>
                  </td>
                  <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 2%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="WIDTH: 12.8%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">146,669,533<br>
                  </td>
                  <td style="WIDTH: 12%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">143,499,880<br>
                  </td>
                  <td style="WIDTH: 2%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                  </td>
                  <td style="WIDTH: 12.94%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">143,437,164<br>
                  </td>
                  <td style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">143,429,610<br>
                  </td>
                </tr>
                <tr>
                  <td style="width: 42.95%; vertical-align: middle; border-bottom: 3px solid rgb(128, 128, 128); text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">Weighted average number of shares (diluted)</div>
                  </td>
                  <td style="width: 3%; vertical-align: middle; border-bottom: 3px solid rgb(128, 128, 128); text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 2%; vertical-align: middle; border-bottom: 3px solid rgb(128, 128, 128); text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 12.8%; vertical-align: middle; border-bottom: 3px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255);">167,766,809<br>
                  </td>
                  <td style="width: 12%; vertical-align: middle; border-bottom: 3px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255);">143,512,660<br>
                  </td>
                  <td style="width: 2%; vertical-align: middle; border-bottom: 3px solid rgb(128, 128, 128); text-align: center; background-color: rgb(255, 255, 255);"><br>
                  </td>
                  <td style="width: 12.94%; vertical-align: middle; border-bottom: 3px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255);">168,159,876<br>
                  </td>
                  <td style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; border-bottom: 3px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255);">143,434,921<br>
                  </td>
                </tr>

            </table>
          </div>
          <div style="LINE-HEIGHT: 11.4pt"><br style="LINE-HEIGHT: 11.4pt">
          </div>
          <div style="font-family: Arial; font-style: italic; text-align: center; line-height: 11.4pt;">The accompanying notes are an integral part of these unaudited condensed consolidated financial statements</div>
          <div style="LINE-HEIGHT: 11.4pt"><br style="LINE-HEIGHT: 11.4pt">
          </div>
          <div style="LINE-HEIGHT: 11.4pt"><br style="LINE-HEIGHT: 11.4pt">
          </div>
          <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: Arial; font-size: 8pt; font-weight: normal; font-style: normal;">9</font></div>
            <div id="DSPFPageBreak" style="page-break-after: always;">
              <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #bfbfbf; background-color: #bfbfbf;" noshade="noshade"></div>
          </div>
          <div style="LINE-HEIGHT: 11.4pt"><br style="LINE-HEIGHT: 11.4pt">
          </div>
          <div style="font-family: Arial; font-weight: bold; text-align: center; line-height: 11.4pt;"><u>CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED)</u></div>
          <div style="font-family: Arial; text-align: center; line-height: 27.35pt;">($ in thousands except per share amounts)</div>
          <div>
            <table id="zd3aed0171458459cb6a9d607751429ce" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%; BORDER-COLLAPSE: collapse" border="0" cellpadding="1" cellspacing="0">

                <tr>
                  <td style="border-top: 3px solid rgb(128, 128, 128); width: 43.37%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(36, 64, 98);">&#160;</td>
                  <td style="border-top: 3px solid rgb(128, 128, 128); width: 3%; vertical-align: top; background-color: rgb(36, 64, 98);">&#160;</td>
                  <td style="border-top: 3px solid rgb(128, 128, 128); width: 2%; vertical-align: top; background-color: rgb(36, 64, 98);">&#160;</td>
                  <td style="border-top: 3px solid rgb(128, 128, 128); width: 200px; vertical-align: top; background-color: rgb(36, 64, 98);" colspan="2">
                    <div style="font-weight: bold; color: rgb(255, 255, 255); text-align: center; line-height: 9.1pt;">Q4 2019</div>
                  </td>
                  <td style="border-top: 3px solid rgb(128, 128, 128); width: 13.07%; vertical-align: top; background-color: rgb(36, 64, 98);">
                    <div style="font-weight: bold; color: rgb(255, 255, 255); text-align: center; line-height: 9.1pt;">Q4 2018</div>
                  </td>
                  <td style="border-top: 3px solid rgb(128, 128, 128); width: 2.93%; vertical-align: top; background-color: rgb(36, 64, 98);">&#160;</td>
                  <td style="border-top: 3px solid rgb(128, 128, 128); width: 12.93%; vertical-align: top; background-color: rgb(36, 64, 98);">
                    <div style="font-weight: bold; color: rgb(255, 255, 255); text-align: center; line-height: 9.1pt;">12 months 2019</div>
                  </td>
                  <td style="border-top: 3px solid rgb(128, 128, 128); border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: top; background-color: rgb(36, 64, 98);">
                    <div style="font-weight: bold; color: rgb(255, 255, 255); text-align: center; line-height: 9.1pt;">12 months 2018</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 43.37%; vertical-align: top; border-bottom: 2px solid rgb(128, 128, 128); border-left: 3px solid rgb(128, 128, 128); background-color: rgb(36, 64, 98);">&#160;</td>
                  <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #808080 2px solid; BACKGROUND-COLOR: #244062" colspan="2">
                    <div style="font-weight: bold; color: rgb(255, 255, 255); text-align: left; line-height: 9.1pt;">Note</div>
                  </td>
                  <td style="WIDTH: 200px; VERTICAL-ALIGN: top; BORDER-BOTTOM: #808080 2px solid; BACKGROUND-COLOR: #244062" colspan="2">
                    <div style="font-weight: bold; color: rgb(255, 255, 255); text-align: center; line-height: 9.1pt;">Oct. 1 - Dec. 31,</div>
                    <div style="font-weight: bold; color: rgb(255, 255, 255); text-align: center; line-height: 9.1pt;">2019</div>
                  </td>
                  <td style="WIDTH: 232px; VERTICAL-ALIGN: top; BORDER-BOTTOM: #808080 2px solid; BACKGROUND-COLOR: #244062" colspan="2">
                    <div style="font-weight: bold; color: rgb(255, 255, 255); text-align: center; line-height: 9.1pt;">Oct. 1 - Dec. 31,</div>
                    <div style="font-weight: bold; color: rgb(255, 255, 255); text-align: center; line-height: 9.1pt;">2018</div>
                  </td>
                  <td style="WIDTH: 12.93%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #808080 2px solid; BACKGROUND-COLOR: #244062">
                    <div style="font-weight: bold; color: rgb(255, 255, 255); text-align: center; line-height: 9.1pt;">Jan. 1 - Dec. 31,</div>
                    <div style="font-weight: bold; color: rgb(255, 255, 255); text-align: center; line-height: 9.1pt;">2019</div>
                  </td>
                  <td style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: top; border-bottom: 2px solid rgb(128, 128, 128); background-color: rgb(36, 64, 98);">
                    <div style="font-weight: bold; color: rgb(255, 255, 255); text-align: center; line-height: 9.1pt;">Jan. 1 - Dec. 31,</div>
                    <div style="font-weight: bold; color: rgb(255, 255, 255); text-align: center; line-height: 9.1pt;">2018</div>
                  </td>
                </tr>
                <tr style="HEIGHT: 18px">
                  <td style="width: 43.37%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">Net income/(loss) after tax for the period</div>
                  </td>
                  <td style="width: 3%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="WIDTH: 2%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">$</div>
                  </td>
                  <td style="WIDTH: 200px; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" colspan="2">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">75,862<br>
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                  </td>
                  <td style="WIDTH: 13.07%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">11,983</div>
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                  <td style="WIDTH: 2.93%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">$</div>
                  </td>
                  <td style="WIDTH: 12.93%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">73,680</div>
                  </td>
                  <td style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">(46,927)</div>
                  </td>
                </tr>
                <tr style="HEIGHT: 23px">
                  <td style="width: 43.37%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">&#160;</td>
                  <td style="width: 3%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 200px; vertical-align: top; background-color: rgb(255, 255, 255);" colspan="2">&#160;</td>
                  <td style="width: 13.07%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 2.93%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 12.93%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                </tr>
                <tr>
                  <td style="width: 43.37%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                    <div style="font-weight: bold; color: rgb(0, 0, 0); font-style: italic; line-height: 9.1pt;">Other comprehensive income:</div>
                  </td>
                  <td style="width: 3%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 200px; vertical-align: top; background-color: rgb(255, 255, 255);" colspan="2">&#160;</td>
                  <td style="width: 13.07%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 2.93%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 12.93%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                </tr>
                <tr style="HEIGHT: 22px">
                  <td style="width: 43.37%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                    <div style="color: rgb(0, 0, 0); font-style: italic; line-height: 9.1pt;">Items that will not be reclassified to income statement:</div>
                  </td>
                  <td style="width: 3%; vertical-align: top;">&#160;</td>
                  <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 200px; vertical-align: top; background-color: rgb(255, 255, 255);" colspan="2">&#160;</td>
                  <td style="width: 13.07%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 2.93%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 12.93%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                </tr>
                <tr style="HEIGHT: 17px">
                  <td style="width: 43.37%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">Remeasurement of defined benefit obligation (loss)</div>
                  </td>
                  <td style="width: 3%; vertical-align: top;">&#160;</td>
                  <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="WIDTH: 200px; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #808080 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" colspan="2">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">224<br>
                    </div>
                  </td>
                  <td style="WIDTH: 13.07%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #808080 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">(148)<br>
                    </div>
                  </td>
                  <td style="width: 2.93%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="WIDTH: 12.93%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #808080 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">224<br>
                    </div>
                  </td>
                  <td style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255);">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">(148)<br>
                    </div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 43.37%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">Total</td>
                  <td style="width: 3%; vertical-align: top;">&#160;</td>
                  <td style="WIDTH: 2%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">$</div>
                  </td>
                  <td style="WIDTH: 200px; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" colspan="2">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">224<br>
                    </div>
                  </td>
                  <td style="WIDTH: 13.07%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">(148)<br>
                    </div>
                  </td>
                  <td style="WIDTH: 2.93%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">$</div>
                  </td>
                  <td style="WIDTH: 12.93%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">224<br>
                    </div>
                  </td>
                  <td style="border-top: 2px solid rgb(128, 128, 128); border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">(148)<br>
                    </div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 43.37%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                    <div style="color: rgb(0, 0, 0); font-style: italic; line-height: 9.1pt;">Items that may be reclassified to income statement:</div>
                  </td>
                  <td style="width: 3%; vertical-align: top;">&#160;</td>
                  <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 200px; vertical-align: top; background-color: rgb(255, 255, 255);" colspan="2">&#160;</td>
                  <td style="width: 13.07%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 2.93%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 12.93%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                </tr>
                <tr>
                  <td style="width: 43.37%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                    <div style="color: #000000; line-height: 9.1pt;">Exchange gain/(loss) on translation of foreign currency</div>
                    <div style="color: #000000; line-height: 9.1pt;">lease asset/liability<br>
                    </div>
                  </td>
                  <td style="width: 3%; vertical-align: top;">&#160;</td>
                  <td style="vertical-align: top;" colspan="2">&#160;</td>
                  <td style="vertical-align: bottom; width: 8.97%; text-align: right;">&#160;(1)</td>
                  <td style="vertical-align: bottom; width: 13.07%; text-align: right;">-<br>
                  </td>
                  <td style="width: 2.93%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="background-color: rgb(255, 255, 255); vertical-align: bottom; width: 12.93%; text-align: right;">&#160;(3)</td>
                  <td style="background-color: rgb(255, 255, 255); border-right: 3px solid rgb(128, 128, 128); vertical-align: bottom; width: 12%; text-align: right;">-<br>
                  </td>
                </tr>
                <tr>
                  <td style="width: 43.37%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;"> Exchange gain/(loss) on translation of foreign currency</div>
                    <div style="color: #000000; line-height: 9.1pt;">denominated associate<br>
                    </div>
                  </td>
                  <td style="width: 3%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="WIDTH: 200px; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #808080 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" colspan="2">
                    <div style="color: #000000; line-height: 9.1pt;">88<br>
                    </div>
                  </td>
                  <td style="WIDTH: 13.07%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #808080 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
                    <div style="color: #000000; line-height: 9.1pt;">10<br>
                    </div>
                  </td>
                  <td style="width: 2.93%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="WIDTH: 12.93%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #808080 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
                    <div style="color: #000000; line-height: 9.1pt;">44<br>
                    </div>
                  </td>
                  <td style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255);">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">(53)</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 43.37%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">Total</div>
                  </td>
                  <td style="width: 3%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="WIDTH: 2%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">$</div>
                  </td>
                  <td style="WIDTH: 200px; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" colspan="2">
                    <div style="color: #000000; line-height: 9.1pt;">87<br>
                    </div>
                  </td>
                  <td style="WIDTH: 13.07%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
                    <div style="color: #000000; line-height: 9.1pt;">10<br>
                    </div>
                  </td>
                  <td style="WIDTH: 2.93%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff">
                    <div style="color: rgb(0, 0, 0); line-height: 9.1pt;">$</div>
                  </td>
                  <td style="WIDTH: 12.93%; VERTICAL-ALIGN: middle; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
                    <div style="color: #000000; line-height: 9.1pt;">42<br>
                    </div>
                  </td>
                  <td style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">
                    <div style="color: #000000; line-height: 9.1pt;">(53)<br>
                    </div>
                  </td>
                </tr>
                <tr style="HEIGHT: 24px">
                  <td style="width: 43.37%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">&#160;</td>
                  <td style="width: 3%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 200px; vertical-align: top; background-color: rgb(255, 255, 255);" colspan="2">&#160;</td>
                  <td style="width: 13.07%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 2.93%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 12.93%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                </tr>
                <tr>
                  <td style="border-top: 2px solid rgb(128, 128, 128); width: 43.37%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                    <div style="font-weight: bold; color: rgb(0, 0, 0); line-height: 9.1pt;">Other comprehensive income/(loss)</div>
                  </td>
                  <td style="width: 3%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="WIDTH: 2%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff">
                    <div style="font-weight: bold; color: rgb(0, 0, 0); line-height: 9.1pt;">$</div>
                  </td>
                  <td style="BORDER-TOP: #808080 2px solid; WIDTH: 200px; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #808080 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" colspan="2">
                    <div style="font-weight: bold; color: #000000; line-height: 9.1pt;">311<br>
                    </div>
                  </td>
                  <td style="BORDER-TOP: #808080 2px solid; WIDTH: 13.07%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #808080 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
                    <div style="font-weight: bold; color: #000000; line-height: 9.1pt;">(138)<br>
                    </div>
                  </td>
                  <td style="WIDTH: 2.93%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff">
                    <div style="font-weight: bold; color: rgb(0, 0, 0); line-height: 9.1pt;">$</div>
                  </td>
                  <td style="BORDER-TOP: #808080 2px solid; WIDTH: 12.93%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #808080 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
                    <div style="font-weight: bold; color: #000000; line-height: 9.1pt;">265<br>
                    </div>
                  </td>
                  <td style="border-top: 2px solid rgb(128, 128, 128); border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255);">
                    <div style="font-weight: bold; color: #000000; line-height: 9.1pt;">(201)<br>
                    </div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 43.37%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">&#160;</td>
                  <td style="width: 3%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 200px; vertical-align: top; background-color: rgb(255, 255, 255);" colspan="2">&#160;</td>
                  <td style="width: 13.07%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 2.93%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 12.93%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                </tr>
                <tr style="HEIGHT: 18px">
                  <td style="border-top: 2px solid rgb(128, 128, 128); width: 43.37%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                    <div style="font-weight: bold; color: rgb(0, 0, 0); line-height: 9.1pt;">Total comprehensive income/(loss) for the period</div>
                  </td>
                  <td style="width: 3%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="WIDTH: 2%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff">
                    <div style="font-weight: bold; color: rgb(0, 0, 0); line-height: 9.1pt;">$</div>
                  </td>
                  <td style="BORDER-TOP: #808080 2px solid; WIDTH: 200px; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #808080 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" colspan="2">
                    <div style="font-weight: bold; color: rgb(0, 0, 0); line-height: 9.1pt;">76,172</div>
                  </td>
                  <td style="BORDER-TOP: #808080 2px solid; WIDTH: 13.07%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #808080 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
                    <div style="font-weight: bold; color: rgb(0, 0, 0); line-height: 9.1pt;">11,845</div>
                  </td>
                  <td style="WIDTH: 2.93%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff">
                    <div style="font-weight: bold; color: rgb(0, 0, 0); line-height: 9.1pt;">$</div>
                  </td>
                  <td style="BORDER-TOP: #808080 2px solid; WIDTH: 12.93%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #808080 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
                    <div style="font-weight: bold; color: rgb(0, 0, 0); line-height: 9.1pt;">73,946</div>
                  </td>
                  <td style="border-top: 2px solid rgb(128, 128, 128); border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255);">
                    <div style="font-weight: bold; color: rgb(0, 0, 0); line-height: 9.1pt;">(47,128)</div>
                  </td>
                </tr>
                <tr>
                  <td style="background-color: #C0C0C0; border-bottom: 0px none; border-left: 3px solid #808080; vertical-align: middle; width: 43.37%; text-align: left;">&#160;</td>
                  <td style="width: 3%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="background-color: #FFFFFF; border-bottom: 0px none; vertical-align: top; width: 200px;" colspan="2">&#160;</td>
                  <td style="width: 13.07%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="width: 2.93%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                  <td style="background-color: #FFFFFF; border-bottom: 0px none; vertical-align: top; width: 12.93%;">&#160;</td>
                  <td style="border-right: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
                </tr>
                <tr>
                  <td rowspan="1" style="background-color: #C0C0C0; border-bottom: 0px none; border-left: 3px solid #808080; border-top: 0px none; vertical-align: middle; width: 43.37%; text-align: left;">Attributable to the non-controlling interest <br>
                  </td>
                  <td rowspan="1" style="background-color: #FFFFFF; border-bottom: 0px none; vertical-align: top; width: 3%;">&#160;</td>
                  <td rowspan="1" style="background-color: #FFFFFF; border-bottom: 0px none; vertical-align: middle; width: 2%; text-align: center;"><font style="font-weight: bold;">$</font> <br>
                  </td>
                  <td rowspan="1" style="background-color: #FFFFFF; border-bottom: 0px none; border-top: 0px none; vertical-align: middle; width: 200px; text-align: right;" colspan="2">&#160;5</td>
                  <td rowspan="1" style="background-color: #FFFFFF; border-bottom: 0px none; border-top: 0px none; vertical-align: middle; width: 13.07%; text-align: right;">-<br>
                  </td>
                  <td rowspan="1" style="background-color: #FFFFFF; border-bottom: 0px none; vertical-align: middle; width: 2.93%; text-align: center;">$</td>
                  <td rowspan="1" style="background-color: #FFFFFF; border-bottom: 0px none; border-top: 0px none; vertical-align: middle; width: 12.93%; text-align: right;">&#160;2</td>
                  <td rowspan="1" style="background-color: #FFFFFF; border-bottom: 0px none; border-right: 3px solid #808080; border-top: 0px none; vertical-align: middle; width: 12%; text-align: right;">-<br>
                  </td>
                </tr>
                <tr>
                  <td style="background-color: #C0C0C0; border-bottom: 3px solid #808080; border-left: 3px solid #808080; border-top: 0px none; vertical-align: middle; width: 43.37%; text-align: left;">
                    <div style="font-weight: normal; color: rgb(0, 0, 0); line-height: 9.1pt;">Attributable to the owners of parent</div>
                  </td>
                  <td style="background-color: #FFFFFF; border-bottom: 3px solid #808080; border-top: 0px none; vertical-align: top; width: 3%;">&#160;</td>
                  <td style="width: 2%; vertical-align: middle; border-bottom: 3px solid rgb(128, 128, 128); text-align: center; background-color: rgb(255, 255, 255);">
                    <div style="font-weight: bold; color: rgb(0, 0, 0); line-height: 9.1pt;">$</div>
                  </td>
                  <td style="background-color: #FFFFFF; border-bottom: 3px solid #808080; border-top: 0px none; vertical-align: middle; width: 200px; text-align: right;" colspan="2">
                    <div style="font-weight: bold; color: rgb(0, 0, 0); line-height: 9.1pt;">76,167</div>
                  </td>
                  <td style="background-color: #FFFFFF; border-bottom: 3px solid #808080; border-top: 0px none; vertical-align: middle; width: 13.07%; text-align: right;">
                    <div style="font-weight: bold; color: rgb(0, 0, 0); line-height: 9.1pt;">11,845</div>
                  </td>
                  <td style="width: 2.93%; vertical-align: middle; border-bottom: 3px solid rgb(128, 128, 128); text-align: center; background-color: rgb(255, 255, 255);">
                    <div style="font-weight: normal; color: rgb(0, 0, 0); line-height: 9.1pt;">$</div>
                  </td>
                  <td style="background-color: #FFFFFF; border-bottom: 3px solid #808080; border-top: 0px none; vertical-align: middle; width: 12.93%; text-align: right;">
                    <div style="font-weight: bold; color: rgb(0, 0, 0); line-height: 9.1pt;">73,944</div>
                  </td>
                  <td style="background-color: #FFFFFF; border-bottom: 3px solid #808080; border-right: 3px solid #808080; border-top: 0px none; vertical-align: middle; width: 12%; text-align: right;">
                    <div style="font-weight: bold; color: rgb(0, 0, 0); line-height: 9.1pt;">(47,128)</div>
                  </td>
                </tr>

            </table>
          </div>
          <br>
        </div>
        <div style="text-align: center; font-family: Arial; font-size: 8pt; font-style: italic;">The accompanying notes are an integral part of these unaudited condensed consolidated financial statements</div>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: Arial; font-size: 8pt; font-weight: normal; font-style: normal;">10</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;" noshade="noshade"></div>
        </div>
        <div>
          <!--PROfilePageNumberReset%Num%1%%%-->
          <div>
            <div>
              <div style="LINE-HEIGHT: 11.4pt">
                <div>
                  <div style="font-family: Arial; font-weight: bold; text-align: center; line-height: 11.4pt;"><u>CONDENSED CONSOLIDATED STATEMENT OF CASH FLOW (UNAUDITED</u>)</div>
                  <div style="font-family: Arial; text-align: center; line-height: 11.4pt;">($ in thousands)</div>
                  <div style="LINE-HEIGHT: 11.4pt"><br style="LINE-HEIGHT: 11.4pt">
                  </div>
                  <div>
                    <table style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%; BORDER-COLLAPSE: collapse" id="zaf08be2682b9416d911fd9e8a36d54d3" border="0" cellpadding="2" cellspacing="0">

                        <tr>
                          <td style="border-top: 3px solid rgb(128, 128, 128); width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(36, 64, 98);">&#160;</td>
                          <td style="border-top: 3px solid rgb(128, 128, 128); width: 3%; vertical-align: middle; text-align: center; background-color: rgb(36, 64, 98);">&#160;</td>
                          <td style="border-top: 3px solid rgb(128, 128, 128); width: 2.56%; vertical-align: middle; text-align: center; background-color: rgb(36, 64, 98);">&#160;</td>
                          <td style="border-top: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; text-align: center; background-color: rgb(36, 64, 98);">
                            <div style="font-weight: bold; color: #ffffff; line-height: 9.1pt;">Q4 2019</div>
                          </td>
                          <td style="border-top: 3px solid rgb(128, 128, 128); width: 0.79%; vertical-align: top; background-color: rgb(36, 64, 98);">&#160;</td>
                          <td style="border-top: 3px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; text-align: center; background-color: rgb(36, 64, 98);">
                            <div style="font-weight: bold; color: #ffffff; line-height: 9.1pt;">Q4 2018</div>
                          </td>
                          <td style="border-top: 3px solid rgb(128, 128, 128); width: 0.79%; vertical-align: top; background-color: rgb(36, 64, 98);">&#160;</td>
                          <td style="border-top: 3px solid rgb(128, 128, 128); vertical-align: middle; text-align: center; background-color: rgb(36, 64, 98);" colspan="2">
                            <div style="font-weight: bold; color: #ffffff; line-height: 9.1pt;">12 months 2019</div>
                          </td>
                          <td style="border-top: 3px solid rgb(128, 128, 128); border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: center; background-color: rgb(36, 64, 98);">
                            <div style="font-weight: bold; color: #ffffff; line-height: 9.1pt;">12 months 2018</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(36, 64, 98);">&#160;</td>
                          <td style="vertical-align: middle; text-align: center; background-color: rgb(36, 64, 98);" colspan="2">
                            <div style="font-weight: bold; color: rgb(255, 255, 255); line-height: 9.1pt; text-align: left;">Note</div>
                          </td>
                          <td style="vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: center; background-color: rgb(36, 64, 98);" colspan="2">
                            <div style="font-weight: bold; color: #ffffff; line-height: 9.1pt;">Oct. 1 - Dec. 31,</div>
                            <div style="font-weight: bold; color: #ffffff; line-height: 9.1pt;">2019</div>
                          </td>
                          <td style="vertical-align: middle; text-align: center; background-color: rgb(36, 64, 98);" colspan="2">
                            <div style="font-weight: bold; color: #ffffff; line-height: 9.1pt;">Oct. 1 - Dec. 31,</div>
                            <div style="font-weight: bold; color: #ffffff; line-height: 9.1pt;">2018</div>
                          </td>
                          <td style="vertical-align: middle; text-align: center; background-color: rgb(36, 64, 98);" colspan="2">
                            <div style="font-weight: bold; color: #ffffff; line-height: 9.1pt;">Jan. 1 - Dec. 31,</div>
                            <div style="font-weight: bold; color: #ffffff; line-height: 9.1pt;">2019</div>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: center; background-color: rgb(36, 64, 98);">
                            <div style="font-weight: bold; color: #ffffff; line-height: 9.1pt;">Jan. 1 - Dec. 31,</div>
                            <div style="font-weight: bold; color: #ffffff; line-height: 9.1pt;">&#160;2018</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="background-color: #35988A; border-bottom: 2px solid #808080; border-left: 3px solid #808080; vertical-align: middle; width: 41%; color: #FFFFFF; font-weight: bold; text-align: left;">
                            <div style="line-height: 9.1pt;">CASH FLOW FROM OPERATING ACTIVITIES</div>
                          </td>
                          <td style="background-color: #35988A; border-bottom: 2px solid #808080; vertical-align: middle; width: 3%; text-align: center;">&#160;</td>
                          <td style="background-color: #35988A; border-bottom: 2px solid #808080; vertical-align: middle; width: 2.56%; text-align: center;">&#160;</td>
                          <td style="background-color: #35988A; border-bottom: 2px solid #808080; vertical-align: middle; width: 12%; text-align: right;">&#160;</td>
                          <td style="background-color: #35988A; border-bottom: 2px solid #808080; vertical-align: top; width: 0.79%;">&#160;</td>
                          <td style="background-color: #35988A; border-bottom: 2px solid #808080; vertical-align: middle; width: 12%; text-align: right;">&#160;</td>
                          <td style="background-color: #35988A; border-bottom: 2px solid #808080; vertical-align: top; width: 0.79%;">&#160;</td>
                          <td style="background-color: #35988A; border-bottom: 2px solid #808080; vertical-align: middle; width: 13%; text-align: right;">&#160;</td>
                          <td style="background-color: #35988A; border-bottom: 2px solid #808080; vertical-align: top; width: 0.79%;">&#160;</td>
                          <td style="background-color: #35988A; border-bottom: 2px solid #808080; border-right: 3px solid #808080; vertical-align: middle; width: 13%; text-align: right;">&#160;</td>
                        </tr>
                        <tr style="HEIGHT: 23px">
                          <td style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="font-weight: bold; color: #000000; line-height: 9.1pt;">Net income / (loss) after tax<br>
                            </div>
                          </td>
                          <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><font style="font-weight: bold;">$</font><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">75,862<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-weight: bold;"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">11,983<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-weight: bold;"><br>
                          </td>
                          <td style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">73,680<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-weight: bold;"><br>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">(46,927)<br>
                          </td>
                        </tr>
                        <tr style="HEIGHT: 18px">
                          <td style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">&#160;</td>
                          <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="font-weight: bold; color: #000000; line-height: 9.1pt;">Items included in net income not affecting cash flows</div>
                          </td>
                          <td style="width: 3%; vertical-align: middle; text-align: center;"><br>
                          </td>
                          <td style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">29,790<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-weight: bold;"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">36,478<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-weight: bold;"><br>
                          </td>
                          <td style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">134,929<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-weight: bold;"><br>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">128,980<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="color: #000000; font-style: italic; line-height: 9.1pt;">&#160;&#160;&#160;&#160;&#160;Depreciation</div>
                          </td>
                          <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">5<br>
                          </td>
                          <td style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">30,663<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">28,251<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">115,584<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">103,476<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="color: #000000; font-style: italic; line-height: 9.1pt;">&#160;&#160;&#160;&#160;&#160;Impairment charges</div>
                          </td>
                          <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">5<br>
                          </td>
                          <td style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">-<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">-<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">-<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">3,500<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="color: #000000; font-style: italic; line-height: 9.1pt;">&#160;&#160;&#160;&#160;&#160;Amortization of debt issuance costs</div>
                          </td>
                          <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">1,930<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">2,010<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">8,003<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">11,559<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="color: #000000; font-style: italic; line-height: 9.1pt;">&#160;&#160;&#160;&#160;&#160;(Profit) / loss, sale of vessel</div>
                          </td>
                          <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">-<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">(122)<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">-<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">(75)<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="color: #000000; font-style: italic; line-height: 9.1pt;">&#160;&#160;&#160;&#160;&#160;Fair value (gain) / loss on derivative financial instruments</div>
                          </td>
                          <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">4<br>
                          </td>
                          <td style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">(2,990)<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">6,222<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">9,863<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">5,191<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="color: #000000; font-style: italic; line-height: 9.1pt;">&#160;&#160;&#160;&#160;&#160;Compensation related to options and restricted stock</div>
                          </td>
                          <td style="width: 3%; vertical-align: middle; text-align: center;"><br>
                          </td>
                          <td style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">454<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">334<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">2,331<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">2,599<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="color: #000000; font-style: italic; line-height: 9.1pt;">&#160;&#160;&#160;&#160;&#160;(Gain) / loss purchase of convertible bond</div>
                          </td>
                          <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">6<br>
                          </td>
                          <td style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">-<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">-<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">-<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">3,589<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="color: #000000; font-style: italic; line-height: 9.1pt;">&#160;&#160;&#160;&#160;&#160;Share of profit in associated companies</div>
                          </td>
                          <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">(267)<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">(217)<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">(852)<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">(858)<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 41%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="font-weight: bold; color: #000000; line-height: 9.1pt;">Income adjusted for non-cash items</div>
                          </td>
                          <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><font style="font-weight: bold;">$</font><br>
                          </td>
                          <td style="border-top: 2px solid rgb(0, 0, 0); width: 12%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">105,651<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-weight: bold;"><br>
                          </td>
                          <td style="border-top: 2px solid rgb(0, 0, 0); width: 12%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">48,461<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-weight: bold;"><br>
                          </td>
                          <td style="border-top: 2px solid rgb(0, 0, 0); width: 13%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">208,610<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-weight: bold;"><br>
                          </td>
                          <td style="border-top: 2px solid rgb(0, 0, 0); border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">82,052<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">&#160;</td>
                          <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="font-weight: bold; color: #000000; line-height: 9.1pt;">Changes in operating assets and liabilities</div>
                          </td>
                          <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">(55,792)<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-weight: bold;"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">(20,142)<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-weight: bold;"><br>
                          </td>
                          <td style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">(52,653)<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-weight: bold;"><br>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">(28,067)<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="color: #000000; font-style: italic; line-height: 9.1pt;">&#160;&#160;&#160;&#160;&#160;Accounts receivable and accrued revenues</div>
                          </td>
                          <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">8<br>
                          </td>
                          <td style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">(52,872)<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">(19,199)<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">(47,651)<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">(25,421)<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="color: #000000; font-style: italic; line-height: 9.1pt;">&#160;&#160;&#160;&#160;&#160;Capitalized voyage expenses</div>
                          </td>
                          <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">(1,658)<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">(219)<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">(2,518)<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">255<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="color: #000000; font-style: italic; line-height: 9.1pt;">&#160;&#160;&#160;&#160;&#160;Prepaid expenses</div>
                          </td>
                          <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">(1,470)<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">3,500<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">(508)<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">(1,141)<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="color: #000000; font-style: italic; line-height: 9.1pt;">&#160;&#160;&#160;&#160;&#160;Accounts payable and accrued expenses</div>
                          </td>
                          <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">5,767<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">216<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">(1,137)<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">8,267<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="color: #000000; font-style: italic; line-height: 9.1pt;">&#160;&#160;&#160;&#160;&#160;Deferred shipping revenues</div>
                          </td>
                          <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">930<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">(2)<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">930<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">-<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="color: #000000; font-style: italic; line-height: 9.1pt;">&#160;&#160;&#160;&#160;&#160;Bunkers, lube oils and consumables</div>
                          </td>
                          <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">(6,489)<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">(4,418)<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">(1,874)<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">(9,994)<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="color: #000000; font-style: italic; line-height: 9.1pt;">&#160;&#160;&#160;&#160;&#160;Pension liability</div>
                          </td>
                          <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">(1)<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">(20)<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">105<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-style: italic;"><br>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255); font-style: italic;">(34)<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 41%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="font-weight: bold; color: #000000; line-height: 9.1pt;">Net cash provided by operating activities</div>
                          </td>
                          <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="width: 2.56%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255); font-weight: bold;">$<br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">49,859<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-weight: bold;"><br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">28,319<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-weight: bold;"><br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">155,956<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-weight: bold;"><br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">53,985<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">&#160;</td>
                          <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                          <td style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff">&#160;</td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                        </tr>
                        <tr>
                          <td style="background-color: #35988A; border-bottom: 2px solid #808080; border-left: 3px solid #808080; vertical-align: middle; width: 41%; text-align: left;">
                            <div style="font-weight: bold; color: #ffffff; line-height: 9.1pt;">CASH FLOW FROM INVESTING ACTIVITIES</div>
                          </td>
                          <td style="background-color: #35988A; border-bottom: 2px solid #808080; vertical-align: middle; width: 3%; text-align: center;">&#160;</td>
                          <td style="background-color: #35988A; border-bottom: 2px solid #808080; vertical-align: middle; width: 2.56%; text-align: center;">&#160;</td>
                          <td style="background-color: #35988A; border-bottom: 2px solid #808080; vertical-align: middle; width: 12%; text-align: right;"><br>
                          </td>
                          <td style="background-color: #35988A; border-bottom: 2px solid #808080; vertical-align: top; width: 0.79%;"><br>
                          </td>
                          <td style="background-color: #35988A; border-bottom: 2px solid #808080; vertical-align: middle; width: 12%; text-align: right;"><br>
                          </td>
                          <td style="background-color: #35988A; border-bottom: 2px solid #808080; vertical-align: top; width: 0.79%;"><br>
                          </td>
                          <td style="background-color: #35988A; border-bottom: 2px solid #808080; vertical-align: middle; width: 13%; text-align: right;"><br>
                          </td>
                          <td style="background-color: #35988A; border-bottom: 2px solid #808080; vertical-align: top; width: 0.79%;"><br>
                          </td>
                          <td style="background-color: #35988A; border-bottom: 2px solid #808080; border-right: 3px solid #808080; vertical-align: middle; width: 13%; text-align: right;"><br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="color: #000000; line-height: 9.1pt;">Investment in vessels</div>
                          </td>
                          <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(20,493)<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(10,131)<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(53,803)<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(11,845)<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="color: #000000; line-height: 9.1pt;">Investment in vessels under construction</div>
                          </td>
                          <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">-<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(57,800)<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">-<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(223,033)<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="color: #000000; line-height: 9.1pt;">Sale of vessels</div>
                          </td>
                          <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">-<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">25,678<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">-<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">46,393<br>
                          </td>
                        </tr>
                        <tr>
                          <td rowspan="1" style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">Investment in associated company<br>
                          </td>
                          <td rowspan="1" style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                          <td rowspan="1" style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff">&#160;</td>
                          <td rowspan="1" style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">513<br>
                          </td>
                          <td rowspan="1" style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td rowspan="1" style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">409<br>
                          </td>
                          <td rowspan="1" style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td rowspan="1" style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">513<br>
                          </td>
                          <td rowspan="1" style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td rowspan="1" style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">409<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="color: #000000; line-height: 9.1pt;">Investment in property, plant and equipment</div>
                          </td>
                          <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(31)<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(4)<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(79)<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(88)<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 41%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="font-weight: bold; color: #000000; line-height: 9.1pt;">Net cash used in investing activities</div>
                          </td>
                          <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="width: 2.56%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255); font-weight: bold;">$<br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">(20,011)<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-weight: bold;"><br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">(41,848)<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-weight: bold;"><br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">(53,369)<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-weight: bold;"><br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">(188,165)<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">&#160;</td>
                          <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                        </tr>
                        <tr>
                          <td style="background-color: #35988A; border-bottom: 2px solid #808080; border-left: 3px solid #808080; vertical-align: middle; width: 41%; text-align: left;">
                            <div style="font-weight: bold; color: #ffffff; line-height: 9.1pt;">CASH FLOW FROM FINANCING ACTIVITIES</div>
                          </td>
                          <td style="background-color: #35988A; border-bottom: 2px solid #808080; vertical-align: middle; width: 3%; text-align: center;"><br>
                          </td>
                          <td style="background-color: #35988A; border-bottom: 2px solid #808080; vertical-align: middle; width: 2.56%; text-align: center;"><br>
                          </td>
                          <td style="background-color: #35988A; border-bottom: 2px solid #808080; vertical-align: middle; width: 12%; text-align: right;"><br>
                          </td>
                          <td style="background-color: #35988A; border-bottom: 2px solid #808080; vertical-align: top; width: 0.79%;"><br>
                          </td>
                          <td style="background-color: #35988A; border-bottom: 2px solid #808080; vertical-align: middle; width: 12%; text-align: right;"><br>
                          </td>
                          <td style="background-color: #35988A; border-bottom: 2px solid #808080; vertical-align: top; width: 0.79%;"><br>
                          </td>
                          <td style="background-color: #35988A; border-bottom: 2px solid #808080; vertical-align: middle; width: 13%; text-align: right;"><br>
                          </td>
                          <td style="background-color: #35988A; border-bottom: 2px solid #808080; vertical-align: top; width: 0.79%;"><br>
                          </td>
                          <td style="background-color: #35988A; border-bottom: 2px solid #808080; border-right: 3px solid #808080; vertical-align: middle; width: 13%; text-align: right;"><br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="color: #000000; line-height: 9.1pt;">Cash dividends paid</div>
                          </td>
                          <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">7<br>
                          </td>
                          <td style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(7,340)<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(2,872)<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(28,685)<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(11,487)<br>
                          </td>
                        </tr>
                        <tr>
                          <td rowspan="1" style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">Repayment of lease liability<br>
                          </td>
                          <td rowspan="1" style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                          <td rowspan="1" style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff">&#160;</td>
                          <td rowspan="1" style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(129)<br>
                          </td>
                          <td rowspan="1" style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td rowspan="1" style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">-<br>
                          </td>
                          <td rowspan="1" style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td rowspan="1" style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(370)<br>
                          </td>
                          <td rowspan="1" style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td rowspan="1" style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">-<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="color: #000000; line-height: 9.1pt;">Issuance of long-term debt</div>
                          </td>
                          <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">4<br>
                          </td>
                          <td style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">10,000<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">54,953<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">64,990<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">577,685<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="color: #000000; line-height: 9.1pt;">Purchase of treasury shares<br>
                            </div>
                          </td>
                          <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">7<br>
                          </td>
                          <td style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">-<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(5,026)<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(3,248)<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(5,026)<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="color: #000000; line-height: 9.1pt;">Issuance of convertible bonds</div>
                          </td>
                          <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">6<br>
                          </td>
                          <td style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">-<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(401)<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(7)<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">38,945<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="color: #000000; line-height: 9.1pt;">Scheduled repayment of long-term debt</div>
                          </td>
                          <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">4<br>
                          </td>
                          <td style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(16,694)<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(16,051)<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(64,175)<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(53,002)<br>
                          </td>
                        </tr>
                        <tr>
                          <td rowspan="1" style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">Prepayment of long-term debt<br>
                          </td>
                          <td rowspan="1" style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">4</td>
                          <td rowspan="1" style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff">&#160;</td>
                          <td rowspan="1" style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(57,254)<br>
                          </td>
                          <td rowspan="1" style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td rowspan="1" style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">-<br>
                          </td>
                          <td rowspan="1" style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td rowspan="1" style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(92,254)<br>
                          </td>
                          <td rowspan="1" style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td rowspan="1" style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">-<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="color: #000000; line-height: 9.1pt;">Repayment of long-term debt refinancing</div>
                          </td>
                          <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">4<br>
                          </td>
                          <td style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">-<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">-<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">-<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(377,935)<br>
                          </td>
                        </tr>
                        <tr>
                          <td rowspan="1" style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">Repayment of long-term debt, sale of vessels <br>
                          </td>
                          <td rowspan="1" style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">4 <br>
                          </td>
                          <td rowspan="1" style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff">&#160;</td>
                          <td rowspan="1" style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">-<br>
                          </td>
                          <td rowspan="1" style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td rowspan="1" style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(8,685)<br>
                          </td>
                          <td rowspan="1" style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td rowspan="1" style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">-<br>
                          </td>
                          <td rowspan="1" style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td rowspan="1" style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(17,348)<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="color: #000000; line-height: 9.1pt;">Repayment of convertible bonds<br>
                            </div>
                          </td>
                          <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">6<br>
                          </td>
                          <td style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(6,426)<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">-<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(6,426)<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">-<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 41%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="font-weight: bold; color: #000000; line-height: 9.1pt;">Net cash (used in)/provided by financing activities</div>
                          </td>
                          <td style="width: 3%; vertical-align: middle; text-align: center;"><br>
                          </td>
                          <td style="width: 2.56%; vertical-align: middle; text-align: center; font-weight: bold;">$<br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">(77,844)<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-weight: bold;"><br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">21,917<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-weight: bold;"><br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">(130,176)<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-weight: bold;"><br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">151,832<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">&#160;</td>
                          <td style="width: 3%; vertical-align: middle; text-align: center;"><br>
                          </td>
                          <td style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="color: #000000; line-height: 9.1pt;">Net (decrease)/increase in cash and cash equivalents</div>
                          </td>
                          <td style="width: 3%; vertical-align: middle; text-align: center;"><br>
                          </td>
                          <td style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(47,995)<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">8,388<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(27,588)<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">17,652<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="color: #000000; line-height: 9.1pt;">Cash and cash equivalents at beginning of period</div>
                          </td>
                          <td style="width: 3%; vertical-align: middle; text-align: center;"><br>
                          </td>
                          <td style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">115,352<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">86,556<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">94,944<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">77,292<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 41%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="font-weight: bold; color: #000000; line-height: 9.1pt;">Cash and cash equivalents at end of period</div>
                          </td>
                          <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="width: 2.56%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255); font-weight: bold;">$<br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">67,356<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-weight: bold;"><br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 12%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">94,944<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-weight: bold;"><br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">67,356<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; background-color: rgb(255, 255, 255); font-weight: bold;"><br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">94,944<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">&#160;</td>
                          <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                          <td style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff">&#160;</td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="font-weight: bold; color: #000000; line-height: 9.1pt;">Specification of items included in operating activities:</div>
                          </td>
                          <td style="width: 3%; vertical-align: middle; text-align: center;">&#160;</td>
                          <td style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center">&#160;</td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 41%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="color: #000000; line-height: 9.1pt;">Interest paid</div>
                          </td>
                          <td style="width: 3%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                          <td style="WIDTH: 2.56%; VERTICAL-ALIGN: middle; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff">&#160;</td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">11,082<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">10,794<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">49,233<br>
                          </td>
                          <td style="WIDTH: 0.79%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"><br>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">40,040<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 41%; vertical-align: middle; border-bottom: 3px solid rgb(128, 128, 128); text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="color: #000000; line-height: 9.1pt;">Interest received</div>
                          </td>
                          <td style="width: 3%; vertical-align: middle; border-bottom: 3px solid rgb(128, 128, 128); text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                          <td style="width: 2.56%; vertical-align: middle; border-bottom: 3px solid rgb(128, 128, 128); text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                          <td style="width: 12%; vertical-align: middle; border-bottom: 3px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255);">357<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; border-bottom: 3px solid rgb(128, 128, 128); background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="width: 12%; vertical-align: middle; border-bottom: 3px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255);">120<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; border-bottom: 3px solid rgb(128, 128, 128); background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="width: 13%; vertical-align: middle; border-bottom: 3px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255);">1,077<br>
                          </td>
                          <td style="width: 0.79%; vertical-align: top; border-bottom: 3px solid rgb(128, 128, 128); background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 13%; vertical-align: middle; border-bottom: 3px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255);">345<br>
                          </td>
                        </tr>

                    </table>
                  </div>
                  <div style="LINE-HEIGHT: 11.4pt"><br style="LINE-HEIGHT: 11.4pt">
                  </div>
                  <div style="font-family: Arial; font-style: italic; text-align: center; line-height: 11.4pt;">The accompanying notes are an integral part of these unaudited condensed consolidated financial statements</div>
                </div>
                <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
                  <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: Arial; font-size: 8pt; font-weight: normal; font-style: normal;">11</font></div>
                  <div id="DSPFPageBreak" style="page-break-after: always;">
                    <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #bfbfbf; background-color: #bfbfbf;" noshade="noshade"></div>
                </div>
                <div><br>
                  <div style="line-height: 11.4pt; text-align: center;">
                    <div style="font-family: Arial; font-weight: bold;"><u>SUMMARY CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (</u><u>UNAUDITED)</u></div>
                    <div style="font-family: Arial;">($ in thousands except shares)</div>
                  </div>
                  <div style="LINE-HEIGHT: 11.4pt"><br style="LINE-HEIGHT: 11.4pt">
                  </div>
                  <div>
                    <table style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%; BORDER-COLLAPSE: collapse" id="za0339d09d978425996152453c7cafc0b" border="0" cellpadding="2" cellspacing="0">

                        <tr>
                          <td style="border-top: 3px solid rgb(128, 128, 128); width: 28%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(36, 64, 98); font-size: 8pt;">&#160;</td>
                          <td style="border-top: 3px solid rgb(128, 128, 128); width: 3.61%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); background-color: rgb(36, 64, 98);">
                            <div style="font-size: 8pt; font-weight: bold; color: rgb(255, 255, 255); text-align: center; line-height: 9.1pt;">Note</div>
                          </td>
                          <td style="border-top: 3px solid rgb(128, 128, 128); width: 8.8%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); text-align: center; background-color: rgb(36, 64, 98);">
                            <div style="font-size: 8pt; font-weight: bold; color: rgb(255, 255, 255); line-height: 9.1pt;">Shares</div>
                          </td>
                          <td style="border-top: 3px solid rgb(128, 128, 128); width: 1.06%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); background-color: rgb(36, 64, 98); font-size: 8pt;">&#160;</td>
                          <td style="border-top: 3px solid rgb(128, 128, 128); width: 4.45%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); text-align: center; background-color: rgb(36, 64, 98);">
                            <div style="font-size: 8pt; font-weight: bold; color: rgb(255, 255, 255); line-height: 9.1pt;">Stock</div>
                          </td>
                          <td style="border-top: 3px solid rgb(128, 128, 128); width: 1.06%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); background-color: rgb(36, 64, 98); font-size: 8pt;">&#160;</td>
                          <td style="border-top: 3px solid rgb(128, 128, 128); font-family: 'Times New Roman'; width: 7.1%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); text-align: left; background-color: rgb(36, 64, 98); font-size: 8pt;">
                            <div style="FONT-FAMILY: Arial; FONT-WEIGHT: bold; COLOR: #ffffff; TEXT-ALIGN: center">Paid-in</div>
                            <div style="FONT-FAMILY: Arial; FONT-WEIGHT: bold; COLOR: #ffffff; TEXT-ALIGN: center">Additional</div>
                            <div style="FONT-FAMILY: Arial; FONT-WEIGHT: bold; COLOR: #ffffff; TEXT-ALIGN: center">Capital</div>
                          </td>
                          <td style="border-top: 3px solid rgb(128, 128, 128); width: 1.06%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: center; background-color: rgb(36, 64, 98); font-size: 8pt;">&#160;</td>
                          <td colspan="1" style="border-top: 3px solid rgb(128, 128, 128); width: 6%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); text-align: center; background-color: rgb(36, 64, 98); font-size: 8pt;">
                            <div style="background-color: rgb(36, 64, 98); font-weight: bold; color: rgb(255, 255, 255); font-style: normal; font-variant: normal; text-transform: none;">Treasury <br>
                            </div>
                            <div><font style="background-color: rgb(36, 64, 98); font-weight: bold; color: rgb(255, 255, 255); font-style: normal; font-variant: normal; text-transform: none;">Shares</font><br>
                            </div>
                          </td>
                          <td colspan="1" style="border-top: 3px solid rgb(128, 128, 128); width: 1.06%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); text-align: center; background-color: rgb(36, 64, 98); font-size: 8pt;">&#160;</td>
                          <td style="border-top: 3px solid rgb(128, 128, 128); width: 6.57%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); text-align: center; background-color: rgb(36, 64, 98); font-size: 8pt;">
                            <div style="font-weight: bold; color: rgb(255, 255, 255);"><font style="font-variant: normal; text-transform: none; font-weight: bold; color: rgb(255, 255, 255); font-style: normal; background-color: rgb(36, 64, 98);">Retained</font></div>
                            <div style="font-weight: bold; color: rgb(255, 255, 255);"><font style="font-variant: normal; text-transform: none; font-weight: bold; color: rgb(255, 255, 255); font-style: normal; background-color: rgb(36, 64, 98);">Earnings</font></div>
                          </td>
                          <td style="border-top: 3px solid rgb(128, 128, 128); width: 1.8%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: center; background-color: rgb(36, 64, 98); font-size: 8pt;">&#160;</td>
                          <td style="border-top: 3px solid rgb(128, 128, 128); font-family: 'Times New Roman'; width: 6%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); text-align: left; background-color: rgb(36, 64, 98); font-size: 8pt;">
                            <div style="FONT-FAMILY: Arial; FONT-WEIGHT: bold; COLOR: #ffffff; TEXT-ALIGN: center">Translation</div>
                            <div style="FONT-FAMILY: Arial; FONT-WEIGHT: bold; COLOR: #ffffff; TEXT-ALIGN: center">Differences</div>
                          </td>
                          <td style="border-top: 3px solid rgb(128, 128, 128); width: 1.48%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: center; background-color: rgb(36, 64, 98); font-size: 8pt;">&#160;</td>
                          <td style="border-top: 3px solid rgb(128, 128, 128); width: 7%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); text-align: center; background-color: rgb(36, 64, 98);">
                            <div style="font-size: 8pt; font-weight: bold; color: rgb(255, 255, 255);">
                              <div style="font-weight: bold; color: rgb(255, 255, 255); line-height: 9.1pt;">Other</div>
                              Reserves</div>
                          </td>
                          <td style="border-top: 3px solid rgb(128, 128, 128); width: 1.06%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: center; background-color: rgb(36, 64, 98); font-size: 8pt;"><br>
                          </td>
                          <td colspan="1" style="border-top: 3px solid rgb(128, 128, 128); width: 6%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); font-weight: bold; color: rgb(255, 255, 255); text-align: center; background-color: rgb(36, 64, 98); font-size: 8pt;">
                            <div>Non- <br>
                            </div>
                            <div>Controlling<br>
                            </div>
                            <div>Interest<br>
                            </div>
                          </td>
                          <td colspan="1" style="border-top: 3px solid rgb(128, 128, 128); width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); font-weight: bold; color: rgb(255, 255, 255); text-align: center; background-color: rgb(36, 64, 98); font-size: 8pt;">&#160;</td>
                          <td style="border-top: 3px solid rgb(128, 128, 128); width: 7%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); font-weight: bold; color: rgb(255, 255, 255); text-align: center; background-color: rgb(36, 64, 98); font-size: 8pt; border-right: 3px solid rgb(128, 128, 128);">&#160;
                            <div style="font-weight: bold; color: rgb(255, 255, 255); line-height: 9.1pt;">Total</div>
                            Equity</td>
                        </tr>
                        <tr>
                          <td style="background-color: #C0C0C0; border-bottom: 0px none; border-left: 3px solid #808080; border-right: 1px; border-top: 1px dashed #808080; vertical-align: middle; width: 28%; text-align: left;">
                            <div style="font-size: 8pt; font-weight: bold; color: rgb(0, 0, 0); line-height: 9.1pt;">Balance at January 1, 2018, as previously reported<br>
                            </div>
                          </td>
                          <td style="width: 3.61%; vertical-align: top; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td style="width: 8.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">142,417,407<br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right;">$<br>
                          </td>
                          <td style="width: 4.45%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">1,424<br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right;">$<br>
                          </td>
                          <td style="width: 7.1%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">1,140,794<br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">$<br>
                          </td>
                          <td colspan="1" style="width: 6%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">-<br>
                          </td>
                          <td colspan="1" style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;$</td>
                          <td style="width: 6.57%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">(222,087)<br>
                          </td>
                          <td style="width: 1.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">$<br>
                          </td>
                          <td style="width: 6%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">85<br>
                          </td>
                          <td style="width: 1.48%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">$<br>
                          </td>
                          <td style="width: 7%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">5,676<br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">$<br>
                          </td>
                          <td colspan="1" style="background-color: #FFFFFF; border-right: 0px none; vertical-align: bottom; width: 6%; font-size: 8pt; text-align: right;">-<br>
                          </td>
                          <td colspan="1" style="background-color: #FFFFFF; border-left: 0px none; border-right: 0px none; vertical-align: bottom; width: 1%; font-size: 8pt; text-align: right;">&#160;$</td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 7%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">925,892<br>
                          </td>
                        </tr>
                        <tr>
                          <td rowspan="1" style="background-color: #C0C0C0; border-bottom: 2px solid #808080; border-left: 3px solid #808080; border-right: 0px #808080; border-top: 0px none; vertical-align: middle; width: 28%; font-size: 8pt; text-align: left;">Impact of change in accounting policy<br>
                          </td>
                          <td rowspan="1" style="width: 3.61%; vertical-align: top; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: center; padding-bottom: 2px;"><br>
                          </td>
                          <td rowspan="1" style="background-color: #FFFFFF; border-bottom: 2px solid #808080; vertical-align: bottom; width: 8.8%; font-size: 8pt; text-align: right;">&#160;</td>
                          <td rowspan="1" style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right; padding-bottom: 2px;">&#160;</td>
                          <td rowspan="1" style="background-color: #FFFFFF; border-bottom: 2px solid #808080; vertical-align: bottom; width: 4.45%; padding: 0px 0px 2px; font-size: 8pt; text-align: right;">&#160;</td>
                          <td rowspan="1" style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right; padding-bottom: 2px;">&#160;</td>
                          <td rowspan="1" style="background-color: #FFFFFF; border-bottom: 2px solid #808080; vertical-align: bottom; width: 7.1%; padding: 0px 0px 2px; font-size: 8pt; text-align: right;">&#160;</td>
                          <td rowspan="1" style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; padding-bottom: 2px;">&#160;</td>
                          <td rowspan="1" colspan="1" style="background-color: #FFFFFF; border-bottom: 2px solid #808080; vertical-align: bottom; width: 6%; padding: 0px 0px 2px; font-size: 8pt; text-align: right;">&#160;</td>
                          <td rowspan="1" colspan="1" style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; padding-bottom: 2px;">&#160;</td>
                          <td rowspan="1" style="background-color: #FFFFFF; border-bottom: 2px solid #808080; vertical-align: bottom; width: 6.57%; padding: 0px 0px 2px; font-size: 8pt; text-align: right;">&#160;(4,734)</td>
                          <td rowspan="1" style="width: 1.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; padding-bottom: 2px;">&#160;</td>
                          <td rowspan="1" style="background-color: #FFFFFF; border-bottom: 2px solid #808080; vertical-align: bottom; width: 6%; padding: 0px 0px 2px; font-size: 8pt; text-align: right;">&#160;</td>
                          <td rowspan="1" style="width: 1.48%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; padding-bottom: 2px;">&#160;</td>
                          <td rowspan="1" style="background-color: #FFFFFF; border-bottom: 2px solid #808080; vertical-align: bottom; width: 7%; padding: 0px 0px 2px; font-size: 8pt; text-align: right;">&#160;</td>
                          <td rowspan="1" style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; padding-bottom: 2px;">&#160;</td>
                          <td rowspan="1" colspan="1" style="background-color: #FFFFFF; border-bottom: 2px solid #808080; border-right: 0px; vertical-align: bottom; width: 6%; padding: 0px 0px 2px; font-size: 8pt; text-align: right;">&#160;</td>
                          <td rowspan="1" colspan="1" style="background-color: rgb(255, 255, 255); border-left: 0px none; border-right: 0px none; vertical-align: bottom; width: 1%; font-size: 8pt; text-align: right; padding-bottom: 2px;">&#160;</td>
                          <td rowspan="1" style="background-color: #FFFFFF; border-bottom: 2px solid #808080; border-right: 3px solid #808080; vertical-align: bottom; width: 7%; padding: 0px 0px 2px; font-size: 8pt; text-align: right;">&#160;(4,734)</td>
                        </tr>
                        <tr>
                          <td rowspan="1" style="width: 28%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192); font-size: 8pt;"><font style="font-weight: bold;">Adjusted balance at
                              January 1, 2018</font><br>
                          </td>
                          <td rowspan="1" style="width: 3.61%; vertical-align: top; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="background-color: #FFFFFF; border-bottom: 2px solid #808080; vertical-align: bottom; width: 8.8%; font-size: 8pt; font-weight: bold; text-align: right;">&#160;142,417,407</td>
                          <td rowspan="1" style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right;">&#160;</td>
                          <td rowspan="1" style="background-color: #FFFFFF; border-bottom: 2px solid #808080; vertical-align: bottom; width: 4.45%; font-size: 8pt; font-weight: bold; text-align: right;">&#160;1,424</td>
                          <td rowspan="1" style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right; font-weight: bold;">&#160;</td>
                          <td rowspan="1" style="background-color: #FFFFFF; border-bottom: 2px solid #808080; vertical-align: bottom; width: 7.1%; font-size: 8pt; font-weight: bold; text-align: right;">&#160;1,140,794</td>
                          <td rowspan="1" style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">&#160;</td>
                          <td rowspan="1" colspan="1" style="background-color: #FFFFFF; border-bottom: 2px solid #808080; vertical-align: bottom; width: 6%; font-size: 8pt; font-weight: bold; text-align: right;">&#160;-</td>
                          <td rowspan="1" colspan="1" style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">&#160;</td>
                          <td rowspan="1" style="background-color: #FFFFFF; border-bottom: 2px solid #808080; border-top: 0px none; vertical-align: bottom; width: 6.57%; font-size: 8pt; font-weight: bold; text-align: right;">&#160;(226,821)</td>
                          <td rowspan="1" style="width: 1.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">&#160;</td>
                          <td rowspan="1" style="background-color: #FFFFFF; border-bottom: 2px solid #808080; vertical-align: bottom; width: 6%; font-size: 8pt; font-weight: bold; text-align: right;">85 <br>
                          </td>
                          <td rowspan="1" style="width: 1.48%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">&#160;</td>
                          <td rowspan="1" style="background-color: #FFFFFF; border-bottom: 2px solid #808080; vertical-align: bottom; width: 7%; font-size: 8pt; font-weight: bold; text-align: right;">&#160;5,676</td>
                          <td rowspan="1" style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">&#160;</td>
                          <td rowspan="1" colspan="1" style="background-color: #FFFFFF; border-bottom: 2px solid #808080; border-right: 0px; vertical-align: bottom; width: 6%; font-size: 8pt; font-weight: bold; text-align: right;">&#160;-</td>
                          <td rowspan="1" colspan="1" style="background-color: #FFFFFF; border-left: 0px none; border-right: 0px none; vertical-align: bottom; width: 1%; font-size: 8pt; font-weight: bold; text-align: right;">&#160;</td>
                          <td rowspan="1" style="background-color: #FFFFFF; border-bottom: 2px solid #808080; border-right: 3px solid #808080; vertical-align: bottom; width: 7%; font-size: 8pt; font-weight: bold; text-align: right;">&#160;921,158</td>
                        </tr>
                        <tr>
                          <td style="width: 28%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="font-size: 8pt; color: rgb(0, 0, 0); line-height: 9.1pt;">Net income/(loss) after tax</div>
                          </td>
                          <td style="width: 3.61%; vertical-align: top; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td style="width: 8.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right;"><br>
                          </td>
                          <td style="width: 4.45%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right;"><br>
                          </td>
                          <td style="width: 7.1%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td colspan="1" style="width: 6%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td colspan="1" style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td style="width: 6.57%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">(46,927)<br>
                          </td>
                          <td style="width: 1.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 6%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.48%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 7%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td colspan="1" style="background-color: #FFFFFF; border-right: 0px none; vertical-align: bottom; width: 6%; font-size: 8pt; text-align: right;">&#160;</td>
                          <td colspan="1" style="background-color: #FFFFFF; border-left: 0px none; border-right: 0px none; vertical-align: bottom; width: 1%; font-size: 8pt; text-align: right;">&#160;</td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 7%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">(46,927)<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 28%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="font-size: 8pt; color: rgb(0, 0, 0); line-height: 9.1pt;">Other comprehensive income</div>
                          </td>
                          <td style="width: 3.61%; vertical-align: top; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td style="width: 8.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right;"><br>
                          </td>
                          <td style="width: 4.45%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right;"><br>
                          </td>
                          <td style="width: 7.1%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td colspan="1" style="width: 6%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td colspan="1" style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td style="width: 6.57%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">(148)<br>
                          </td>
                          <td style="width: 1.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 6%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">(53)<br>
                          </td>
                          <td style="width: 1.48%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 7%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td colspan="1" style="background-color: rgb(255, 255, 255); border-right: 0px none; vertical-align: bottom; width: 6%; font-size: 8pt; text-align: right;">&#160;</td>
                          <td colspan="1" style="background-color: #FFFFFF; border-bottom: 0px none; border-left: 0px; border-right: 0px; vertical-align: bottom; width: 1%; font-size: 8pt; text-align: right;">&#160;</td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 7%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">(201)<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 28%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="font-size: 8pt; color: rgb(0, 0, 0); line-height: 9.1pt;">Total comprehensive income</div>
                          </td>
                          <td style="width: 3.61%; vertical-align: top; background-color: rgb(255, 255, 255); font-size: 8pt; padding-bottom: 2px;">&#160;</td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 8.8%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right; padding-bottom: 2px;"><br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 4.45%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right; padding-bottom: 2px;"><br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 7.1%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; padding-bottom: 2px;"><br>
                          </td>
                          <td colspan="1" style="border-top: 2px solid rgb(128, 128, 128); width: 6%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td colspan="1" style="background-color: #FFFFFF; border-bottom: 0px none; border-top: 0px none; vertical-align: bottom; width: 1.06%; font-size: 8pt; text-align: right;">&#160;</td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 6.57%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">(47,075)</td>
                          <td style="width: 1.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; padding-bottom: 2px;"><br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 6%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">(53)</td>
                          <td style="width: 1.48%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; padding-bottom: 2px;"><br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 7%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; padding-bottom: 2px;"><br>
                          </td>
                          <td colspan="1" style="background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(128, 128, 128); border-right: 0px none; border-top: 2px solid rgb(128, 128, 128); vertical-align: bottom; width: 6%; font-size: 8pt; text-align: right;">&#160;</td>
                          <td colspan="1" style="background-color: #FFFFFF; border-left: 0px; border-right: 0px; border-top: 0px dashed; vertical-align: bottom; width: 1%; padding: 0px 0px 2px; font-size: 8pt; text-align: right;">&#160;</td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); border-right: 3px solid rgb(128, 128, 128); width: 7%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">(47,128)<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 28%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="font-size: 8pt; color: rgb(0, 0, 0); line-height: 9.1pt;">Cash dividends declared and paid</div>
                          </td>
                          <td style="width: 3.61%; vertical-align: top; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td style="width: 8.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right;"><br>
                          </td>
                          <td style="width: 4.45%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right;"><br>
                          </td>
                          <td style="width: 7.1%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td colspan="1" style="width: 6%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td colspan="1" style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td style="width: 6.57%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">(11,487)<br>
                          </td>
                          <td style="width: 1.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 6%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.48%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 7%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td colspan="1" style="background-color: #FFFFFF; border-right: 0px none; vertical-align: bottom; width: 6%; font-size: 8pt; text-align: right;">&#160;</td>
                          <td colspan="1" style="background-color: #FFFFFF; border-left: 0px none; border-right: 0px none; vertical-align: bottom; width: 1%; font-size: 8pt; text-align: right;">&#160;</td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 7%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">(11,487)<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 28%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="font-size: 8pt; color: rgb(0, 0, 0); line-height: 9.1pt;">Purchase of treasury shares<br>
                            </div>
                          </td>
                          <td style="width: 3.61%; vertical-align: top; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td style="width: 8.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right;"><br>
                          </td>
                          <td style="width: 4.45%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right;"><br>
                          </td>
                          <td style="width: 7.1%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td colspan="1" style="width: 6%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;(5,026)</td>
                          <td colspan="1" style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td style="width: 6.57%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 6%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.48%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 7%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td colspan="1" style="background-color: #FFFFFF; border-right: 0px none; vertical-align: bottom; width: 6%; font-size: 8pt; text-align: right;">&#160;</td>
                          <td colspan="1" style="background-color: #FFFFFF; border-left: 0px none; border-right: 0px none; vertical-align: bottom; width: 1%; font-size: 8pt; text-align: right;">&#160;</td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 7%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">(5,026)<br>
                          </td>
                        </tr>
                        <tr>
                          <td rowspan="1" style="width: 28%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192); font-size: 8pt;">Retirement of treasury shares<br>
                          </td>
                          <td rowspan="1" style="width: 3.61%; vertical-align: top; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="width: 8.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">(892,497)<br>
                          </td>
                          <td rowspan="1" style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right;">&#160;</td>
                          <td rowspan="1" style="width: 4.45%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">(9)<br>
                          </td>
                          <td rowspan="1" style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right;">&#160;</td>
                          <td rowspan="1" style="width: 7.1%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;(3,654)</td>
                          <td rowspan="1" style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" colspan="1" style="width: 6%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">3,662</td>
                          <td rowspan="1" colspan="1" style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="width: 6.57%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="width: 1.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="width: 6%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="width: 1.48%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="width: 7%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" colspan="1" style="background-color: #FFFFFF; border-right: 0px none; vertical-align: bottom; width: 6%; font-size: 8pt; text-align: right;">&#160;</td>
                          <td rowspan="1" colspan="1" style="background-color: #FFFFFF; border-left: 0px none; border-right: 0px none; vertical-align: bottom; width: 1%; font-size: 8pt; text-align: right;">&#160;</td>
                          <td rowspan="1" style="border-right: 3px solid rgb(128, 128, 128); width: 7%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;(0)</td>
                        </tr>
                        <tr>
                          <td rowspan="1" style="width: 28%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192); font-size: 8pt;">Issuance of convertible bonds<br>
                          </td>
                          <td rowspan="1" style="width: 3.61%; vertical-align: top; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="width: 8.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right;">&#160;</td>
                          <td rowspan="1" style="width: 4.45%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right;">&#160;</td>
                          <td rowspan="1" style="width: 7.1%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;3,165</td>
                          <td rowspan="1" style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" colspan="1" style="width: 6%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" colspan="1" style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="width: 6.57%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="width: 1.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="width: 6%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="width: 1.48%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="width: 7%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" colspan="1" style="background-color: #FFFFFF; border-right: 0px none; vertical-align: bottom; width: 6%; font-size: 8pt; text-align: right;">&#160;</td>
                          <td rowspan="1" colspan="1" style="background-color: #FFFFFF; border-left: 0px none; border-right: 0px none; vertical-align: bottom; width: 1%; font-size: 8pt; text-align: right;">&#160;</td>
                          <td rowspan="1" style="border-right: 3px solid rgb(128, 128, 128); width: 7%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;3,165</td>
                        </tr>
                        <tr>
                          <td style="width: 28%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="font-size: 8pt; color: rgb(0, 0, 0); line-height: 9.1pt;">Purchase of convertible bonds</div>
                          </td>
                          <td style="width: 3.61%; vertical-align: top; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td style="width: 8.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right;"><br>
                          </td>
                          <td style="width: 4.45%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right;"><br>
                          </td>
                          <td style="width: 7.1%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">(1,613)<br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td colspan="1" style="width: 6%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td colspan="1" style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td style="width: 6.57%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 6%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.48%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 7%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td colspan="1" style="background-color: #FFFFFF; border-right: 0px none; vertical-align: bottom; width: 6%; font-size: 8pt; text-align: right;">&#160;</td>
                          <td colspan="1" style="background-color: #FFFFFF; border-left: 0px none; border-right: 0px none; vertical-align: bottom; width: 1%; font-size: 8pt; text-align: right;">&#160;</td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 7%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">(1,613)<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 28%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="font-size: 8pt; color: rgb(0, 0, 0); line-height: 9.1pt;">Compensation related to options and restricted stock</div>
                          </td>
                          <td style="width: 3.61%; vertical-align: top; font-size: 8pt;">&#160;</td>
                          <td style="width: 8.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">1,175,136<br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right;"><br>
                          </td>
                          <td style="width: 4.45%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">12<br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right;"><br>
                          </td>
                          <td style="width: 7.1%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">6,414<br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td colspan="1" style="width: 6%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td colspan="1" style="background-color: #FFFFFF; border-bottom: 0px; vertical-align: bottom; width: 1.06%; font-size: 8pt; text-align: right;">&#160;</td>
                          <td style="width: 6.57%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 6%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.48%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 7%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">(3,827)<br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td colspan="1" style="background-color: #FFFFFF; border-bottom: 2px; border-right: 0px; vertical-align: bottom; width: 6%; font-size: 8pt; text-align: right;">&#160;</td>
                          <td colspan="1" style="background-color: rgb(255, 255, 255); border-left: 0px none; border-right: 0px none; vertical-align: bottom; width: 1%; font-size: 8pt; text-align: right;">&#160;</td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 7%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">2,599<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 28%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="font-size: 8pt; font-weight: bold; color: rgb(0, 0, 0); line-height: 9.1pt;">Balance at December 31, 2018</div>
                          </td>
                          <td style="width: 3.61%; vertical-align: top; border-bottom: 2px solid rgb(128, 128, 128); background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 8.8%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">142,700,046<br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right; font-weight: bold;">$<br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 4.45%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">1,427<br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right; font-weight: bold;">$<br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 7.1%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">1,145,107<br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">$<br>
                          </td>
                          <td colspan="1" style="border-top: 2px solid rgb(128, 128, 128); width: 6%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">(1,364)<br>
                          </td>
                          <td colspan="1" style="background-color: #FFFFFF; border-bottom: 2px solid #808080; border-top: 0px dashed; vertical-align: bottom; width: 1.06%; font-size: 8pt; font-weight: bold; text-align: right;">&#160;$</td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 6.57%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">(285,383)<br>
                          </td>
                          <td style="width: 1.8%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">$<br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 6%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">32<br>
                          </td>
                          <td style="width: 1.48%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">$<br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 7%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">1,848<br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">$<br>
                          </td>
                          <td colspan="1" style="background-color: #FFFFFF; border-bottom: 2px solid #808080; border-right: 0px none; border-top: 2px solid #808080; vertical-align: bottom; width: 6%; padding: 0px 0px 2px; font-size: 8pt; font-weight: bold; text-align: right;">- <br>
                          </td>
                          <td colspan="1" style="background-color: #FFFFFF; border-bottom: 2px solid #808080; border-left: 0px; border-right: 0px; border-top: 0px none; vertical-align: bottom; width: 1%; font-size: 8pt; font-weight: bold; text-align: right;">&#160;$</td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); border-right: 3px solid rgb(128, 128, 128); width: 7%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">861,668<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-left: 0px none rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); vertical-align: middle; width: 28%; padding: 0px 0px 2px; font-size: 8pt; text-align: left;">&#160;</td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 3.61%; vertical-align: top; border-bottom: 2px solid rgb(128, 128, 128); background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td style="width: 8.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; padding-bottom: 2px;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right; padding-bottom: 2px;"><br>
                          </td>
                          <td style="width: 4.45%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; padding-bottom: 2px;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right; padding-bottom: 2px;"><br>
                          </td>
                          <td style="width: 7.1%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; padding-bottom: 2px;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; padding-bottom: 2px;"><br>
                          </td>
                          <td colspan="1" style="width: 6%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; padding-bottom: 2px;">&#160;</td>
                          <td colspan="1" style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; padding-bottom: 2px;">&#160;</td>
                          <td style="width: 6.57%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; padding-bottom: 2px;"><br>
                          </td>
                          <td style="width: 1.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; padding-bottom: 2px;"><br>
                          </td>
                          <td style="width: 6%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; padding-bottom: 2px;"><br>
                          </td>
                          <td style="width: 1.48%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; padding-bottom: 2px;"><br>
                          </td>
                          <td style="width: 7%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; padding-bottom: 2px;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; padding-bottom: 2px;"><br>
                          </td>
                          <td colspan="1" style="background-color: rgb(255, 255, 255); border-right: 0px none; vertical-align: bottom; width: 6%; font-size: 8pt; text-align: right; padding-bottom: 2px;">&#160;</td>
                          <td colspan="1" style="background-color: rgb(255, 255, 255); border-left: 0px none; border-right: 0px none; vertical-align: bottom; width: 1%; font-size: 8pt; text-align: right; padding-bottom: 2px;">&#160;</td>
                          <td style="background-color: rgb(255, 255, 255); border-right: 0px none rgb(128, 128, 128); vertical-align: bottom; width: 7%; padding: 0px 0px 2px; font-size: 8pt; text-align: right;"><br>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 28%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="font-size: 8pt; font-weight: bold; color: rgb(0, 0, 0); line-height: 9.1pt;">Balance at January 1, 2019</div>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 3.61%; vertical-align: top; font-size: 8pt;">&#160;</td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 8.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">142,700,046<br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right;">$<br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 4.45%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">1,427<br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right;">$<br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 7.1%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">1,145,107<br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">$<br>
                          </td>
                          <td colspan="1" style="border-top: 2px solid rgb(128, 128, 128); width: 6%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">(1,364) <br>
                          </td>
                          <td colspan="1" style="border-top: 2px solid rgb(128, 128, 128); width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;$</td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 6.57%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">(285,383)<br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 1.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">$<br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 6%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">32<br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 1.48%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">$<br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 7%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">1,848<br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">$<br>
                          </td>
                          <td colspan="1" style="background-color: #FFFFFF; border-right: 0px none; border-top: 2px solid #808080; vertical-align: bottom; width: 6%; font-size: 8pt; text-align: right;">&#160;-</td>
                          <td colspan="1" style="background-color: #FFFFFF; border-left: 0px; border-right: 0px; border-top: 2px solid #808080; vertical-align: bottom; width: 1%; font-size: 8pt; text-align: right;">&#160;$</td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); border-right: 3px solid rgb(128, 128, 128); width: 7%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">861,668<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 28%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="font-size: 8pt; color: rgb(0, 0, 0); line-height: 9.1pt;">Net income/(loss) after tax</div>
                          </td>
                          <td style="width: 3.61%; vertical-align: top; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td style="width: 8.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right;"><br>
                          </td>
                          <td style="width: 4.45%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right;"><br>
                          </td>
                          <td style="width: 7.1%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td colspan="1" style="width: 6%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td colspan="1" style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td style="width: 6.57%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">73,679<br>
                          </td>
                          <td style="width: 1.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 6%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.48%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 7%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td colspan="1" style="background-color: rgb(255, 255, 255); border-right: 0px none; vertical-align: bottom; width: 6%; font-size: 8pt; text-align: right;">2</td>
                          <td colspan="1" style="background-color: #FFFFFF; border-left: 0px none; border-right: 0px none; vertical-align: bottom; width: 1%; font-size: 8pt; text-align: right;">&#160;</td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 7%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">73,680<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 28%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="font-size: 8pt; color: rgb(0, 0, 0); line-height: 9.1pt;">Other comprehensive income</div>
                          </td>
                          <td style="width: 3.61%; vertical-align: top; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td style="width: 8.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right;"><br>
                          </td>
                          <td style="width: 4.45%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right;"><br>
                          </td>
                          <td style="width: 7.1%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td colspan="1" style="width: 6%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td colspan="1" style="background-color: rgb(255, 255, 255); border-bottom: 0px none; border-top: 0px none; vertical-align: bottom; width: 1.06%; font-size: 8pt; text-align: right;">&#160;</td>
                          <td style="width: 6.57%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">224</td>
                          <td style="width: 1.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 6%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">42<br>
                          </td>
                          <td style="width: 1.48%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 7%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td colspan="1" style="background-color: #FFFFFF; border-bottom: 2px #808080; border-right: 0px; vertical-align: bottom; width: 6%; font-size: 8pt; text-align: right;">&#160;</td>
                          <td colspan="1" style="background-color: rgb(255, 255, 255); border-left: 0px none; border-right: 0px none; vertical-align: bottom; width: 1%; font-size: 8pt; text-align: right;">&#160;</td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 7%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">265<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 28%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="font-size: 8pt; color: rgb(0, 0, 0); line-height: 9.1pt;">Total comprehensive income</div>
                          </td>
                          <td style="width: 3.61%; vertical-align: top; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 8.8%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right;"><br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 4.45%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right;"><br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 7.1%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td colspan="1" style="border-top: 2px solid rgb(128, 128, 128); width: 6%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td colspan="1" style="background-color: #FFFFFF; border-bottom: 0px none; border-top: 0px none; vertical-align: bottom; width: 1.06%; font-size: 8pt; text-align: right;">&#160;</td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 6.57%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">73,903</td>
                          <td style="width: 1.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 6%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">42<br>
                          </td>
                          <td style="width: 1.48%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 7%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td colspan="1" style="background-color: #FFFFFF; border-bottom: 2px solid #808080; border-right: 0px; border-top: 2px solid #808080; vertical-align: bottom; width: 6%; font-size: 8pt; text-align: right;">2<br>
                          </td>
                          <td colspan="1" style="background-color: #FFFFFF; border-bottom: 0px none; border-left: 0px; border-right: 0px; border-top: 0px none; vertical-align: bottom; width: 1%; font-size: 8pt; text-align: right;">&#160;</td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); border-right: 3px solid rgb(128, 128, 128); width: 7%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">73,946<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 28%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="font-size: 8pt; color: rgb(0, 0, 0); line-height: 9.1pt;">Cash dividends declared and paid</div>
                          </td>
                          <td style="width: 3.61%; vertical-align: top; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td style="width: 8.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right;"><br>
                          </td>
                          <td style="width: 4.45%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right;"><br>
                          </td>
                          <td style="width: 7.1%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td colspan="1" style="width: 6%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td colspan="1" style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td style="width: 6.57%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">(28,685)<br>
                          </td>
                          <td style="width: 1.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 6%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.48%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 7%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td colspan="1" style="background-color: #FFFFFF; border-right: 0px none; vertical-align: bottom; width: 6%; font-size: 8pt; text-align: right;">&#160;</td>
                          <td colspan="1" style="background-color: #FFFFFF; border-left: 0px none; border-right: 0px none; vertical-align: bottom; width: 1%; font-size: 8pt; text-align: right;">&#160;</td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 7%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">(28,685)<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 28%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="font-size: 8pt; color: rgb(0, 0, 0); line-height: 9.1pt;">Purchase of treasury shares<br>
                            </div>
                          </td>
                          <td style="width: 3.61%; vertical-align: top; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td style="width: 8.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right;"><br>
                          </td>
                          <td style="width: 4.45%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right;"><br>
                          </td>
                          <td style="width: 7.1%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td colspan="1" style="width: 6%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">(3,248) <br>
                          </td>
                          <td colspan="1" style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td style="width: 6.57%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 6%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.48%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 7%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;"><br>
                          </td>
                          <td colspan="1" style="background-color: #FFFFFF; border-right: 0px none; vertical-align: bottom; width: 6%; font-size: 8pt; text-align: right;">&#160;</td>
                          <td colspan="1" style="background-color: #FFFFFF; border-left: 0px none; border-right: 0px none; vertical-align: bottom; width: 1%; font-size: 8pt; text-align: right;">&#160;</td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 7%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">(3,248)<br>
                          </td>
                        </tr>
                        <tr>
                          <td rowspan="1" style="width: 28%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);"><font style="font-size: 8pt;">Adjustment related to non-controlling
                              interest</font><br>
                          </td>
                          <td rowspan="1" style="width: 3.61%; vertical-align: top; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="width: 8.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right;">&#160;</td>
                          <td rowspan="1" style="width: 4.45%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right;">&#160;</td>
                          <td rowspan="1" style="width: 7.1%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" colspan="1" style="width: 6%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" colspan="1" style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="width: 6.57%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="width: 1.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="width: 6%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="width: 1.48%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="width: 7%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" colspan="1" style="background-color: #FFFFFF; border-right: 0px none; vertical-align: bottom; width: 6%; font-size: 8pt; text-align: right;">&#160;3</td>
                          <td rowspan="1" colspan="1" style="background-color: #FFFFFF; border-left: 0px none; border-right: 0px none; vertical-align: bottom; width: 1%; font-size: 8pt; text-align: right;">&#160;</td>
                          <td rowspan="1" style="border-right: 3px solid rgb(128, 128, 128); width: 7%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">3<br>
                          </td>
                        </tr>
                        <tr>
                          <td rowspan="1" style="width: 28%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);"><font style="font-size: 8pt;">Retirement of treasury shares</font><br>
                          </td>
                          <td rowspan="1" style="width: 3.61%; vertical-align: top; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="width: 8.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">(1,061,241) <br>
                          </td>
                          <td rowspan="1" style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right;">&#160;</td>
                          <td rowspan="1" style="width: 4.45%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;(11)</td>
                          <td rowspan="1" style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right;">&#160;</td>
                          <td rowspan="1" style="width: 7.1%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;(4,602)</td>
                          <td rowspan="1" style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" colspan="1" style="width: 6%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;4,612</td>
                          <td rowspan="1" colspan="1" style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="width: 6.57%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="width: 1.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="width: 6%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="width: 1.48%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="width: 7%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" colspan="1" style="background-color: #FFFFFF; border-right: 0px none; vertical-align: bottom; width: 6%; font-size: 8pt; text-align: right;">&#160;</td>
                          <td rowspan="1" colspan="1" style="background-color: #FFFFFF; border-left: 0px none; border-right: 0px none; vertical-align: bottom; width: 1%; font-size: 8pt; text-align: right;">&#160;</td>
                          <td rowspan="1" style="border-right: 3px solid rgb(128, 128, 128); width: 7%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">-<br>
                          </td>
                        </tr>
                        <tr>
                          <td rowspan="1" style="width: 28%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);"><font style="font-size: 8pt;">Conversion of convertible bonds</font><br>
                          </td>
                          <td rowspan="1" style="width: 3.61%; vertical-align: top; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="width: 8.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">4,390,025<br>
                          </td>
                          <td rowspan="1" style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right;">&#160;</td>
                          <td rowspan="1" style="width: 4.45%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">44<br>
                          </td>
                          <td rowspan="1" style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right;">&#160;</td>
                          <td rowspan="1" style="width: 7.1%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">26,391 <br>
                          </td>
                          <td rowspan="1" style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" colspan="1" style="width: 6%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" colspan="1" style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="width: 6.57%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="width: 1.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="width: 6%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="width: 1.48%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="width: 7%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td rowspan="1" colspan="1" style="background-color: #FFFFFF; border-right: 0px none; vertical-align: bottom; width: 6%; font-size: 8pt; text-align: right;">&#160;</td>
                          <td rowspan="1" colspan="1" style="background-color: #FFFFFF; border-left: 0px none; border-right: 0px none; vertical-align: bottom; width: 1%; font-size: 8pt; text-align: right;">&#160;</td>
                          <td rowspan="1" style="border-right: 3px solid rgb(128, 128, 128); width: 7%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;26,435</td>
                        </tr>
                        <tr>
                          <td style="width: 28%; vertical-align: middle; text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192); padding-bottom: 2px;">
                            <div style="font-size: 8pt; color: rgb(0, 0, 0); line-height: 9.1pt;">Compensation related to options and restricted stock</div>
                          </td>
                          <td style="width: 3.61%; vertical-align: top; font-size: 8pt; padding-bottom: 2px;">&#160;</td>
                          <td style="width: 8.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; padding-bottom: 2px;">790,571<br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right; padding-bottom: 2px;"><br>
                          </td>
                          <td style="width: 4.45%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; padding-bottom: 2px;">8<br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right; padding-bottom: 2px;"><br>
                          </td>
                          <td style="width: 7.1%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; padding-bottom: 2px;">2,640<br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; padding-bottom: 2px;"><br>
                          </td>
                          <td colspan="1" style="width: 6%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; padding-bottom: 2px;">&#160;</td>
                          <td colspan="1" style="background-color: #FFFFFF; border-bottom: 0px none; vertical-align: bottom; width: 1.06%; padding: 0px 0px 2px; font-size: 8pt; text-align: right;">&#160;</td>
                          <td style="width: 6.57%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; padding-bottom: 2px;"><br>
                          </td>
                          <td style="width: 1.8%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; padding-bottom: 2px;"><br>
                          </td>
                          <td style="width: 6%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; padding-bottom: 2px;"><br>
                          </td>
                          <td style="width: 1.48%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; padding-bottom: 2px;"><br>
                          </td>
                          <td style="width: 7%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; padding-bottom: 2px;">(317)<br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; padding-bottom: 2px;"><br>
                          </td>
                          <td colspan="1" style="background-color: #FFFFFF; border-bottom: 2px #808080; border-right: 0px; vertical-align: bottom; width: 6%; font-size: 8pt; text-align: right;">&#160;</td>
                          <td colspan="1" style="background-color: #FFFFFF; border-bottom: 0px none; border-left: 0px; border-right: 0px; vertical-align: bottom; width: 1%; padding: 0px 0px 2px; font-size: 8pt; text-align: right;">&#160;</td>
                          <td style="border-right: 3px solid rgb(128, 128, 128); width: 7%; vertical-align: bottom; text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; padding-bottom: 2px;">2,331<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 28%; vertical-align: middle; border-bottom: 3px solid rgb(128, 128, 128); text-align: left; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(192, 192, 192);">
                            <div style="font-size: 8pt; font-weight: bold; color: rgb(0, 0, 0); line-height: 9.1pt;">Balance at December 31, 2019</div>
                          </td>
                          <td style="width: 3.61%; vertical-align: top; border-bottom: 3px solid rgb(128, 128, 128); background-color: rgb(255, 255, 255); font-size: 8pt;">&#160;</td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 8.8%; vertical-align: bottom; border-bottom: 3px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">146,819,401<br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; border-bottom: 3px solid rgb(128, 128, 128); background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right; font-weight: bold;">$<br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 4.45%; vertical-align: bottom; border-bottom: 3px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">1,468<br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; border-bottom: 3px solid rgb(128, 128, 128); background-color: rgb(255, 255, 255); font-size: 8pt; text-align: right; font-weight: bold;">$<br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 7.1%; vertical-align: bottom; border-bottom: 3px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">1,169,537<br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; border-bottom: 3px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">$<br>
                          </td>
                          <td colspan="1" style="border-top: 2px solid rgb(128, 128, 128); width: 6%; vertical-align: bottom; border-bottom: 3px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">-<br>
                          </td>
                          <td colspan="1" style="background-color: #FFFFFF; border-bottom: 3px solid #808080; border-top: 0px none #808080; vertical-align: bottom; width: 1.06%; font-size: 8pt; font-weight: bold; text-align: right;">&#160;$</td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 6.57%; vertical-align: bottom; border-bottom: 3px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">(240,165)<br>
                          </td>
                          <td style="width: 1.8%; vertical-align: bottom; border-bottom: 3px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">$<br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 6%; vertical-align: bottom; border-bottom: 3px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">73<br>
                          </td>
                          <td style="width: 1.48%; vertical-align: bottom; border-bottom: 3px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">$<br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 7%; vertical-align: bottom; border-bottom: 3px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">1,531<br>
                          </td>
                          <td style="width: 1.06%; vertical-align: bottom; border-bottom: 3px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">$<br>
                          </td>
                          <td colspan="1" style="background-color: #FFFFFF; border-bottom: 3px solid #808080; border-right: 0px; border-top: 2px solid #808080; vertical-align: bottom; width: 6%; font-size: 8pt; font-weight: bold; text-align: right;">5<br>
                          </td>
                          <td colspan="1" style="background-color: #FFFFFF; border-bottom: 3px solid #808080; border-left: 0px; border-right: 0px; border-top: 0px none; vertical-align: bottom; width: 1%; font-size: 8pt; font-weight: bold; text-align: right;">&#160;$<br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); border-right: 3px solid rgb(128, 128, 128); width: 7%; vertical-align: bottom; border-bottom: 3px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">932,449<br>
                          </td>
                        </tr>

                    </table>
                  </div>
                  <div style="LINE-HEIGHT: 11.4pt"><br style="LINE-HEIGHT: 11.4pt">
                  </div>
                  <div style="font-family: Arial; font-style: italic; text-align: center; line-height: 11.4pt;">The accompanying notes are an integral part of these unaudited condensed consolidated financial statements</div>
                </div>
                <div><br>
                </div>
                <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
                  <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: Arial; font-size: 8pt; font-weight: normal; font-style: normal;">12</font></div>
                  <div style="page-break-after:always;" id="DSPFPageBreak">
                    <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;" noshade="noshade"></div>
                </div>
                <br>
                <div>
                  <div style="text-align: center; font-family: Arial; font-weight: bold;"><u>NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</u></div>
                  <div style="text-align: center; font-family: Arial; font-weight: bold;"><u>FOR THE PERIOD ENDED DECEMBER 31, 2019</u></div>
                  <div><br>
                  </div>
                  <div style="font-family: Arial; font-weight: bold;">Note 1 &#8211; General information</div>
                  <div style="text-align: justify; color: #000000; font-family: Arial;">DHT Holdings, Inc. (&#8220;DHT&#8221; or the &#8220;Company&#8221;) is a company incorporated under the laws of the Marshall Islands whose shares are listed on the New York Stock Exchange. The
                    Company&#8217;s principal executive office is located at Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda. The Company is engaged in the ownership and operation of a fleet of crude oil carriers.</div>
                  <div><br>
                  </div>
                  <div style="text-align: justify; color: #000000; font-family: Arial;">The financial statements were approved by the Company&#8217;s Board of Directors (the &#8220;Board&#8221;) on February 5, 2020 and authorized for issue on February 5, 2020.</div>
                  <div><br>
                  </div>
                  <div><br>
                  </div>
                  <div style="font-family: Arial; font-weight: bold;">Note 2 &#8211; General accounting principles</div>
                  <div style="text-align: justify; color: #000000; font-family: Arial;">The condensed consolidated interim financial statements do not include all information and disclosure required in the annual financial statements and should be read in
                    conjunction with DHT&#8217;s audited consolidated financial statements included in its Annual Report on Form 20-F for 2018. The interim results are not necessarily indicative of the results for the entire year or for any future periods.</div>
                  <div><br>
                  </div>
                  <div style="text-align: justify; color: #000000; font-family: Arial;">The interim condensed financial statements have been prepared in accordance with IAS 34 &#8220;Interim Financial Reporting&#8221; as issued by the International Accounting
                    Standards Board (&#8220;IASB&#8221;).</div>
                  <div><br>
                  </div>
                  <div style="text-align: justify; color: #000000; font-family: Arial;">The interim condensed financial statements have been prepared on a historical cost basis, except for derivative financial instruments that have been measured at fair
                    value. The accounting policies that have been followed in these interim condensed financial statements are the same as presented in the 2018 audited consolidated financial statements.</div>
                  <div><br>
                  </div>
                  <div style="text-align: justify; color: #000000; font-family: Arial;">These interim condensed consolidated financial statements have been prepared on a going concern basis.</div>
                  <div><br>
                  </div>
                  <div style="color: #000000; font-family: Arial; font-style: italic;"><u>Application of new and revised International Financial Reporting Standards (&#8220;IFRSs&#8221;)</u></div>
                  <div style="text-align: justify; color: #000000; font-family: Arial;">New and revised IFRSs, and interpretations mandatory for the first time for the financial year beginning January 1, 2019 are listed below. With the exception of IFRS
                    16, the adoption did not have any effect on the financial statements:</div>
                  <div><br>
                  </div>
                  <div>
                    <div>
                      <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb81a5eabebfa4e39ba448ed5f21db2c1" cellpadding="0" cellspacing="0">

                          <tr>
                            <td style="width: 18pt;"><br>
                            </td>
                            <td style="width: 18pt; vertical-align: top; align: right; color: #000000; font-family: Arial;">o</td>
                            <td style="width: auto; vertical-align: top;">
                              <div style="color: #000000; font-family: Arial;">IFRS 16 Leases</div>
                            </td>
                          </tr>

                      </table>
                    </div>
                  </div>
                  <div>
                    <div>
                      <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc61f2d0ca67946b4808b020b617e6729" cellpadding="0" cellspacing="0">

                          <tr>
                            <td style="width: 18pt;"><br>
                            </td>
                            <td style="width: 18pt; vertical-align: top; align: right; color: #000000; font-family: Arial;">o</td>
                            <td style="width: auto; vertical-align: top;">
                              <div style="color: #000000; font-family: Arial;">Amendments to IFRS 9 Prepayment Features with Negative Compensation</div>
                            </td>
                          </tr>

                      </table>
                    </div>
                  </div>
                  <div>
                    <div>
                      <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z270fa6c8620e43faab7408f22849e41e" cellpadding="0" cellspacing="0">

                          <tr>
                            <td style="width: 18pt;"><br>
                            </td>
                            <td style="width: 18pt; vertical-align: top; align: right; color: #000000; font-family: Arial;">o</td>
                            <td style="width: auto; vertical-align: top;">
                              <div style="color: #000000; font-family: Arial;">Amendments to IAS 28 Long-term Interests in Associates and Joint Ventures</div>
                            </td>
                          </tr>

                      </table>
                    </div>
                  </div>
                  <div>
                    <div>
                      <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb9fd07f1bc0544489590b91015ecc20b" cellpadding="0" cellspacing="0">

                          <tr>
                            <td style="width: 18pt;"><br>
                            </td>
                            <td style="width: 18pt; vertical-align: top; align: right; color: #000000; font-family: Arial;">o</td>
                            <td style="width: auto; vertical-align: top;">
                              <div style="color: #000000; font-family: Arial;">Annual Improvements to IFRS Standards 2015-2017 Cycle, Amendments to IFRS 3 Business Combinations, IFRS 11Joint Arrangements, IAS 12 Income Taxes and IAS 23 Borrowing Costs</div>
                            </td>
                          </tr>

                      </table>
                    </div>
                  </div>
                  <div>
                    <div>
                      <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd24f43cbccfd43a79fd35f9ac6f9c7f5" cellpadding="0" cellspacing="0">

                          <tr>
                            <td style="width: 18pt;"><br>
                            </td>
                            <td style="width: 18pt; vertical-align: top; align: right; color: #000000; font-family: Arial;">o</td>
                            <td style="width: auto; vertical-align: top;">
                              <div style="color: #000000; font-family: Arial;">Amendments to IAS 19 Employee Benefits, Plan Amendments, Curtailments or Settlements</div>
                            </td>
                          </tr>

                      </table>
                    </div>
                  </div>
                  <div>
                    <div>
                      <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze221c3fb3ea04dd2bf20fffcb22d1cae" cellpadding="0" cellspacing="0">

                          <tr>
                            <td style="width: 18pt;"><br>
                            </td>
                            <td style="width: 18pt; vertical-align: top; align: right; color: #000000; font-family: Arial;">o</td>
                            <td style="width: auto; vertical-align: top;">
                              <div style="color: #000000; font-family: Arial;">IFRS 10 Consolidated Financial Statements and IAS 28 (amendments), Sale or Contribution of Assets between an Investor and its Associate or Joint Venture</div>
                            </td>
                          </tr>

                      </table>
                    </div>
                  </div>
                  <div>
                    <div>
                      <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf58773b757b245958fc9d0d5dfca82e3" cellpadding="0" cellspacing="0">

                          <tr>
                            <td style="width: 18pt;"><br>
                            </td>
                            <td style="width: 18pt; vertical-align: top; align: right; color: #000000; font-family: Arial;">o</td>
                            <td style="width: auto; vertical-align: top;">
                              <div style="color: #000000; font-family: Arial;">IFRIC 23 Uncertainty over Income Tax Treatments</div>
                            </td>
                          </tr>

                      </table>
                    </div>
                  </div>
                  <div><br>
                  </div>
                  <div style="text-align: justify; color: #000000; font-family: Arial;"><u>Adoption of IFRS 16 </u><font style="font-style: italic;"><u>Leases</u></font></div>
                  <div style="color: rgb(0, 0, 0); font-family: Arial; text-align: justify;">Effective from January 1, 2019, the Company adopted the new accounting standard IFRS 16<font style="font-style: italic;"> Leases</font> using the modified
                    retrospective method. The Company recognized an initial $1.5 million lease liability and a corresponding right-of-use lease asset to comply with the new lease standard. There was no transition effect on the opening balance of equity,
                    and the comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. The effects of the change in the accounting standard from IAS 17 <font style="font-style: italic;">Leases</font> to IFRS 16 <font style="font-style: italic;">Leases</font> is described in further detail in DHT&#8217;s Annual Report on Form 20-F for 2018.</div>
                  <div><br>
                  </div>
                  <div style="color: rgb(0, 0, 0); font-family: Arial; text-align: justify;">As of July 1, 2019, the Company recognized an increase of $1.6 million in the lease liability and a corresponding right-of-use lease asset related to a new
                    contract that fall within the definition of a lease in accordance with IFRS 16.</div>
                </div>
                <div><br>
                </div>
                <div><br>
                </div>
                <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
                  <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: Arial; font-size: 8pt; font-weight: normal; font-style: normal;">13</font></div>
                  <div style="page-break-after:always;" id="DSPFPageBreak">
                    <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;" noshade="noshade"></div>
                </div>
                <div><br>
                </div>
                <div>
                  <div style="text-align: justify; font-family: Arial;">As of December 5, 2019 the Company recognized an increase of $0.1 million in the lease liability and a corresponding right-of-use lease asset due to a modification of an existing
                    lease.</div>
                  <div><br>
                  </div>
                  <div style="text-align: justify; font-family: Arial;">Amounts recognized in the condensed consolidated statement of financial position as of December 31, 2019 after the adoption of IFRS 16 Leases, including additions in 2019, were as
                    follows:<br>
                  </div>
                </div>
                <br>
                <div style="text-align: justify; color: #000000; font-family: Arial;">
                  <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z0cc015ea018c48d09bbd9b328d4cef83" border="0" cellpadding="0" cellspacing="0">

                      <tr>
                        <td rowspan="1" style="background-color: #244062; border-left: 3px solid #808080; border-top: 3px solid #808080; vertical-align: top; width: 75.1%; color: #FFFFFF; font-family: Arial; font-style: normal; font-variant: normal; font-weight: bold; text-transform: none;">Amounts recognized in the consolidated statement of financial position<br>
                        </td>
                        <td rowspan="1" style="background-color: #244062; border-right: 3px solid #808080; border-top: 3px solid #808080; vertical-align: top; width: 24.9%; color: #FFFFFF; font-family: Arial; font-style: normal; font-variant: normal; font-weight: bold; text-transform: none;">&#160;</td>
                      </tr>
                      <tr>
                        <td style="background-color: #244062; border-left: 3px solid #808080; border-top: 0px; vertical-align: top; width: 75.1%; color: #FFFFFF; font-family: Arial; font-style: normal; font-variant: normal; font-weight: bold; text-transform: none;">
                          <div style="font-style: italic;">$ in thousands</div>
                        </td>
                        <td style="background-color: #244062; border-right: 3px solid #808080; border-top: 0px solid; vertical-align: top; width: 24.9%; color: #FFFFFF; font-family: Arial; font-style: normal; font-variant: normal; font-weight: bold; text-transform: none;">
                          <div style="text-align: right;">December 31, 2019</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 75.1%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(217, 217, 217); font-weight: normal; color: rgb(0, 0, 0); font-family: Arial; font-style: normal; font-variant: normal; text-transform: none;">
                          <div>Lease liability (Other non-current liabilities)</div>
                        </td>
                        <td style="width: 24.9%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">
                          <div style="text-align: right; font-family: Arial;">2,241</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 75.1%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128); background-color: rgb(217, 217, 217); font-weight: normal; color: rgb(0, 0, 0); font-family: Arial; font-style: normal; font-variant: normal; text-transform: none;">
                          <div>Lease liability (Other current liabilities)</div>
                        </td>
                        <td style="width: 24.9%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128);">
                          <div style="text-align: right; font-family: Arial;">605</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 75.1%; vertical-align: top; border-left: 3px solid rgb(128, 128, 128); border-bottom: 3px solid rgb(128, 128, 128); background-color: rgb(217, 217, 217); font-weight: normal; color: rgb(0, 0, 0); font-family: Arial; font-style: normal; font-variant: normal; text-transform: none;">
                          <div>Right-of-use asset (Other property, plant and equipment)</div>
                        </td>
                        <td style="width: 24.9%; vertical-align: top; border-right: 3px solid rgb(128, 128, 128); border-bottom: 3px solid rgb(128, 128, 128);">
                          <div style="text-align: right; font-family: Arial;">2,808</div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div><br>
                </div>
                <div><br>
                </div>
                <div>
                  <div style="text-align: justify; font-family: Arial; font-weight: bold;">Note 3 &#8211; Segment reporting</div>
                  <div style="text-align: justify; font-family: Arial;">Since DHT&#8217;s business is limited to operating a fleet of crude oil tankers, management has organized the entity as one segment based upon the service provided. Consequently, the Company
                    has one operating segment as defined in IFRS 8, Operating Segments.</div>
                  <div><br>
                  </div>
                  <div style="text-align: justify; font-family: Arial;">As of December 31, 2019, the Company had 27 vessels in operation; 5 vessels were on time charters and 22 vessels operating in the spot market.</div>
                  <div><br>
                  </div>
                  <div style="text-align: justify; font-family: Arial; font-style: italic;"><u>Information about major customers:</u></div>
                  <div style="text-align: justify; font-family: Arial;">For the period from October 1, 2019 to December 31, 2019 five customers represented $28.5 million, $28.4 million, $25.8 million, $19.8 million and $11.8 million, respectively, of the
                    Company&#8217;s revenues. The five customers in aggregate represented $114.3 million, equal to 60 percent of the total revenue of $191.8 million for the period from October 1, 2019 to December 31, 2019.</div>
                  <div><br>
                  </div>
                  <div style="text-align: justify; font-family: Arial;">For 2019, five customers represented $84.1 million, $79.2 million, $73.6 million, $39.5 million and $34.8 million, respectively, of the Company&#8217;s revenues. The five customers in
                    aggregate represented $311.2 million, equal to 58 percent of the total revenue of $535.1 million for the year ending December 31, 2019.</div>
                  <div><br>
                  </div>
                  <div style="text-align: justify; font-family: Arial;">For the period from October 1, 2018 to December 31, 2018 five customers represented $33.9 million, $12.6 million, $10.6 million, $8.8 million and $8.6 million, respectively, of the
                    Company&#8217;s revenues. The five customers in aggregate represented $74.5 million, equal to 54 percent of the total revenue of $138.6 million for the period from October 1, 2018 to December 31, 2018.</div>
                  <div><br>
                  </div>
                  <div style="text-align: justify; font-family: Arial;">For 2018, five customers represented $76.0 million, $38.4 million, $19.3 million, $18.7 million and $18.7 million, respectively, of the Company&#8217;s revenues. The five customers in
                    aggregate represented $171.1 million, equal to 46 percent of the total revenue of $375.9 million for the year ending December 31, 2018.</div>
                </div>
                <div><br>
                </div>
                <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
                  <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: Arial; font-size: 8pt; font-weight: normal; font-style: normal;">14</font></div>
                  <div style="page-break-after:always;" id="DSPFPageBreak">
                    <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;" noshade="noshade"></div>
                </div>
                <div><br>
                </div>
                <div>
                  <div style="font-family: Arial; font-weight: bold;">Note 4 &#8211; Interest bearing debt</div>
                  <div style="text-align: justify; font-family: Arial;">As of December 31, 2019, DHT had interest bearing debt totaling $851.0 million (including the $125.0 million convertible senior notes).</div>
                </div>
                <div><br>
                </div>
                <br>
                <div style="color: rgb(0, 0, 0); font-family: Arial;">
                  <div style="LINE-HEIGHT: 11.4pt">
                    <div style="font-weight: bold;">Scheduled debt repayments (USD thousands) and margin above Libor</div>
                  </div>
                  <div>
                    <table style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%; BORDER-COLLAPSE: collapse" id="z725453f53816498699b87d080c920956" border="0" cellpadding="2" cellspacing="0">

                        <tr style="HEIGHT: 22px">
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 29.3%; vertical-align: middle; text-align: left; border-left: 2px solid rgb(128, 128, 128); background-color: rgb(36, 64, 98);">
                            <div style="font-weight: bold; color: #ffffff; line-height: 9.1pt;">&#160;</div>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 11.03%; vertical-align: middle; text-align: center; background-color: rgb(36, 64, 98);">
                            <div style="font-weight: bold; color: #ffffff; line-height: 9.1pt;">Margin</div>
                          </td>
                          <td colspan="1" style="border-top: 2px solid rgb(128, 128, 128); width: 10%; vertical-align: middle; text-align: right; background-color: rgb(36, 64, 98); font-weight: bold;"><font style="background-color: rgb(36, 64, 98); color: rgb(255, 255, 255); font-style: normal; font-variant: normal; text-transform: none;">Q1 </font><br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 9%; vertical-align: middle; text-align: right; background-color: rgb(36, 64, 98);">
                            <div style="font-weight: bold; color: rgb(255, 255, 255); line-height: 9.1pt;">Q2-Q4</div>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 11%; vertical-align: middle; text-align: right; background-color: rgb(36, 64, 98);">
                            <div style="font-weight: bold; color: rgb(255, 255, 255); line-height: 9.1pt;">&#160;</div>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 9.54%; vertical-align: middle; text-align: right; background-color: rgb(36, 64, 98);">
                            <div style="font-weight: bold; color: rgb(255, 255, 255); line-height: 9.1pt;">&#160;</div>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 10.29%; vertical-align: middle; text-align: right; background-color: rgb(36, 64, 98);">
                            <div style="font-weight: bold; color: rgb(255, 255, 255); line-height: 9.1pt;">&#160;</div>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); border-right: 2px solid rgb(128, 128, 128); width: 9.76%; vertical-align: middle; text-align: right; background-color: rgb(36, 64, 98);">
                            <div style="font-weight: bold; color: rgb(255, 255, 255); line-height: 9.1pt;">&#160;</div>
                          </td>
                        </tr>
                        <tr style="HEIGHT: 15px">
                          <td style="width: 29.3%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: left; border-left: 2px solid rgb(128, 128, 128); background-color: rgb(36, 64, 98);">
                            <div style="font-weight: bold; color: #ffffff; line-height: 9.1pt;">$ in thousands</div>
                          </td>
                          <td style="width: 11.03%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: center; background-color: rgb(36, 64, 98);">
                            <div style="font-weight: bold; color: #ffffff; line-height: 9.1pt;">above Libor</div>
                          </td>
                          <td colspan="1" style="width: 10%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(36, 64, 98); font-weight: bold;">&#160;<font style="background-color: rgb(36, 64, 98); color: rgb(255, 255, 255); font-style: normal; font-variant: normal; text-transform: none;">2020</font></td>
                          <td style="width: 9%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(36, 64, 98);">
                            <div style="font-weight: bold; color: rgb(255, 255, 255); line-height: 9.1pt;">2020</div>
                          </td>
                          <td style="width: 11%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(36, 64, 98);">
                            <div style="font-weight: bold; color: rgb(255, 255, 255); line-height: 9.1pt;">2021</div>
                          </td>
                          <td style="width: 9.54%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(36, 64, 98);">
                            <div style="font-weight: bold; color: rgb(255, 255, 255); line-height: 9.1pt;">2022</div>
                          </td>
                          <td style="width: 10.29%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(36, 64, 98);">
                            <div style="font-weight: bold; color: rgb(255, 255, 255); line-height: 9.1pt;">Thereafter</div>
                          </td>
                          <td style="border-right: 2px solid rgb(128, 128, 128); width: 9.76%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(36, 64, 98);">
                            <div style="font-weight: bold; color: rgb(255, 255, 255); line-height: 9.1pt;">Total</div>
                          </td>
                        </tr>
                        <tr style="HEIGHT: 14px">
                          <td style="width: 29.3%; vertical-align: middle; text-align: left; border-left: 2px solid rgb(128, 128, 128); background-color: rgb(217, 217, 217);">
                            <div style="line-height: 9.1pt;">ABN Amro Credit Facility</div>
                          </td>
                          <td style="width: 11.03%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">
                            <div style="line-height: 9.1pt;">2.40%</div>
                          </td>
                          <td colspan="1" style="width: 10%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">&#160;8,344</td>
                          <td style="width: 9%; vertical-align: middle; text-align: right;">25,033<br>
                          </td>
                          <td style="width: 11%; vertical-align: middle; text-align: right;">33,378<br>
                          </td>
                          <td style="width: 9.54%; vertical-align: middle; text-align: right;">33,378<br>
                          </td>
                          <td style="width: 10.29%; vertical-align: middle; text-align: right;">336,128<br>
                          </td>
                          <td style="border-right: 2px solid rgb(128, 128, 128); width: 9.76%; vertical-align: middle; text-align: right;">436,261<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 29.3%; vertical-align: middle; text-align: left; border-left: 2px solid rgb(128, 128, 128); background-color: rgb(217, 217, 217);">
                            <div style="line-height: 9.1pt;">Credit Agricole Credit Facility</div>
                          </td>
                          <td style="width: 11.03%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">
                            <div style="line-height: 9.1pt;">2.19%</div>
                          </td>
                          <td colspan="1" style="width: 10%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">&#160;1,649</td>
                          <td style="width: 9%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">4,948<br>
                          </td>
                          <td style="width: 11%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">6,597<br>
                          </td>
                          <td style="width: 9.54%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">6,597<br>
                          </td>
                          <td style="width: 10.29%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">36,328<br>
                          </td>
                          <td style="border-right: 2px solid rgb(128, 128, 128); width: 9.76%; vertical-align: middle; text-align: right;">56,120<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 29.3%; vertical-align: middle; text-align: left; border-left: 2px solid rgb(128, 128, 128); background-color: rgb(217, 217, 217);">
                            <div style="line-height: 9.1pt;">Danish Ship Finance Credit Facility</div>
                          </td>
                          <td style="width: 11.03%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">
                            <div style="line-height: 9.1pt;">2.25%</div>
                          </td>
                          <td colspan="1" style="width: 10%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">&#160;</td>
                          <td style="width: 9%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">39,000<br>
                          </td>
                          <td style="width: 11%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="width: 9.54%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="width: 10.29%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="border-right: 2px solid rgb(128, 128, 128); width: 9.76%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">39,000<br>
                          </td>
                        </tr>
                        <tr style="HEIGHT: 20px">
                          <td style="width: 29.3%; vertical-align: middle; text-align: left; border-left: 2px solid rgb(128, 128, 128); background-color: rgb(217, 217, 217);">
                            <div style="line-height: 9.1pt;">Nordea Credit Facility*</div>
                          </td>
                          <td style="width: 11.03%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">
                            <div style="line-height: 9.1pt;">2.40%</div>
                          </td>
                          <td colspan="1" style="width: 10%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">&#160;4,200</td>
                          <td style="width: 9%; vertical-align: middle; text-align: right;">19,350<br>
                          </td>
                          <td style="width: 11%; vertical-align: middle; text-align: right;">25,800<br>
                          </td>
                          <td style="width: 9.54%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">25,800<br>
                          </td>
                          <td style="width: 10.29%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">134,478<br>
                          </td>
                          <td style="border-right: 2px solid rgb(128, 128, 128); width: 9.76%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">209,628<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 29.3%; vertical-align: middle; text-align: left; border-left: 2px solid rgb(128, 128, 128); background-color: rgb(217, 217, 217);">
                            <div style="line-height: 9.1pt;">ABN Amro Revolving Credit Facility**</div>
                          </td>
                          <td style="width: 11.03%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">
                            <div style="line-height: 9.1pt;">2.50%</div>
                          </td>
                          <td colspan="1" style="width: 10%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">&#160;</td>
                          <td style="width: 9%; vertical-align: middle; text-align: right;"><br>
                          </td>
                          <td style="width: 11%; vertical-align: middle; text-align: right;"><br>
                          </td>
                          <td style="width: 9.54%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="width: 10.29%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="border-right: 2px solid rgb(128, 128, 128); width: 9.76%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 29.3%; vertical-align: middle; text-align: left; border-left: 2px solid rgb(128, 128, 128); background-color: rgb(217, 217, 217);">
                            <div style="line-height: 9.1pt;">Convertible Senior Notes</div>
                          </td>
                          <td style="width: 11.03%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                          <td colspan="1" style="width: 10%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">&#160;</td>
                          <td style="width: 9%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="width: 11%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">125,000<br>
                          </td>
                          <td style="width: 9.54%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="width: 10.29%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="border-right: 2px solid rgb(128, 128, 128); width: 9.76%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">125,000<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 29.3%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: left; border-left: 2px solid rgb(128, 128, 128); background-color: rgb(217, 217, 217);">
                            <div style="font-weight: bold; line-height: 9.1pt;">Total</div>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 11.03%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                          <td colspan="1" style="border-top: 2px solid rgb(128, 128, 128); width: 10%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">14,194</td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 9%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">88,331<br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 11%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">190,775<br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 9.54%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">65,775<br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 10.29%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">506,934<br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); border-right: 2px solid rgb(128, 128, 128); width: 9.76%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255); font-weight: bold;">866,009<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 29.3%; vertical-align: middle; text-align: left; border-left: 2px solid rgb(128, 128, 128); background-color: rgb(217, 217, 217);">
                            <div style="line-height: 9.1pt;">Unamortized upfront fees bank loans</div>
                          </td>
                          <td style="width: 11.03%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                          <td colspan="1" style="width: 10%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                          <td style="width: 9%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="width: 11%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="width: 9.54%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="width: 10.29%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="border-right: 2px solid rgb(128, 128, 128); width: 9.76%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(6,606)<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 29.3%; vertical-align: middle; text-align: left; border-left: 2px solid rgb(128, 128, 128); background-color: rgb(217, 217, 217);">
                            <div style="line-height: 9.1pt;">Difference amortized cost/notional amount convertible note</div>
                          </td>
                          <td style="width: 11.03%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                          <td colspan="1" style="width: 10%; vertical-align: middle; text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                          <td style="width: 9%; vertical-align: middle; text-align: right;"><br>
                          </td>
                          <td style="width: 11%; vertical-align: middle; text-align: right;"><br>
                          </td>
                          <td style="width: 9.54%; vertical-align: middle; text-align: right;"><br>
                          </td>
                          <td style="width: 10.29%; vertical-align: middle; text-align: right;"><br>
                          </td>
                          <td style="border-right: 2px solid rgb(128, 128, 128); width: 9.76%; vertical-align: middle; text-align: right; background-color: rgb(255, 255, 255);">(8,432)<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 29.3%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: left; border-left: 2px solid rgb(128, 128, 128); background-color: rgb(217, 217, 217);">
                            <div style="font-weight: bold; line-height: 9.1pt;">Total interest bearing debt</div>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 11.03%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                          <td colspan="1" style="border-top: 2px solid rgb(128, 128, 128); width: 10%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: center; background-color: rgb(255, 255, 255);">&#160;</td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 9%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 11%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 9.54%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 10.29%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255);"><br>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); border-right: 2px solid rgb(128, 128, 128); width: 9.76%; vertical-align: middle; border-bottom: 2px solid rgb(128, 128, 128); text-align: right; background-color: rgb(255, 255, 255);"><font style="font-weight: bold;">850,972</font><br>
                          </td>
                        </tr>

                    </table>
                  </div>
                </div>
                <div>
                  <div style="font-family: Arial; font-size: 8pt;"> <br>
                  </div>
                  <div style="font-family: Arial; font-size: 8pt;">*$46.7 mill. undrawn as of December 31, 2019.</div>
                  <div style="font-family: Arial; font-size: 8pt;">**$47.6 mill. available as of December 31, 2019.&#160; Quarterly reduction of $1.3 million</div>
                </div>
                <br>
                <div><br>
                </div>
                <div>
                  <div style="font-family: Arial; font-weight: bold;"><u>ABN Amro Credit Facility</u></div>
                  <div style="text-align: justify; font-family: Arial;">In April 2018 the Company entered into a credit facility with ABN Amro, Nordea, Credit Agricole, DNB, ING, Danish Ship Finance, SEB, DVB and Swedbank as lenders and DHT Holdings, Inc.
                    as guarantor for the financing of eleven VLCCs and two newbuildings. Borrowings bear interest at a rate equal to Libor + 2.40% and the loan is repayable in quarterly installments of $8.3 million through Q2 2024 and a final payment of
                    $286.1 with the last installment.</div>
                  <div><br>
                  </div>
                  <div style="text-align: justify; font-family: Arial;">The credit facility contains a covenant requiring that at all times the charter-free market value of the vessels that secure the credit facility be no less than 135% of borrowings.
                    Also, DHT covenants that, throughout the term of the credit facility, DHT, on a consolidated basis, shall maintain:</div>
                  <div style="text-align: justify;">
                    <div>
                      <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z1079a104da094107b9ad91cc11d3c1d6" cellpadding="0" cellspacing="0">

                          <tr>
                            <td style="width: 18pt;"><br>
                            </td>
                            <td style="width: 27pt; vertical-align: top; font-family: Arial;"><font style="font-family: Times New Roman;">&#9679;</font></td>
                            <td style="width: auto; vertical-align: top; text-align: justify;">
                              <div style="font-family: Arial;">Value adjusted* tangible net worth of $300 million</div>
                            </td>
                          </tr>

                      </table>
                    </div>
                  </div>
                  <div style="text-align: justify;">
                    <div>
                      <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf4e631c5cd1644acaf68878d5f43eb98" cellpadding="0" cellspacing="0">

                          <tr>
                            <td style="width: 18pt;"><br>
                            </td>
                            <td style="width: 27pt; vertical-align: top; font-family: Arial;"><font style="font-family: Times New Roman;">&#9679;</font></td>
                            <td style="width: auto; vertical-align: top; text-align: justify;">
                              <div style="font-family: Arial;">Value adjusted* tangible net worth shall be at least 25% of value adjusted total assets</div>
                            </td>
                          </tr>

                      </table>
                    </div>
                  </div>
                  <div style="text-align: justify;">
                    <div>
                      <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z9dfb610ec75741b3926762f4aa53c193" cellpadding="0" cellspacing="0">

                          <tr>
                            <td style="width: 18pt;"><br>
                            </td>
                            <td style="width: 27pt; vertical-align: top; font-family: Arial;"><font style="font-family: Times New Roman;">&#9679;</font></td>
                            <td style="width: auto; vertical-align: top; text-align: justify;">
                              <div style="font-family: Arial;">Unencumbered consolidated cash of at least the higher of (i) $30 million and (ii) 6% of our gross interest bearing debt</div>
                            </td>
                          </tr>

                      </table>
                    </div>
                  </div>
                  <div style="text-align: justify; font-family: Arial; font-style: italic;">* Value adjusted defined as an adjustment to reflect the difference between the carrying amount and the market valuations of the Company&#8217;s vessels (as determined
                    quarterly by an approved broker).</div>
                  <div><br>
                  </div>
                  <div><br>
                  </div>
                  <div style="font-family: Arial; font-weight: bold;"><u>Credit Agricole Credit Facility</u></div>
                  <div style="text-align: justify; font-family: Arial;">In June 2015 Samco Gamma Ltd and DHT Tiger Limited entered into a credit agreement with Credit Agricole for the financing of the Samco Scandinavia and the newbuilding DHT Tiger that
                    was delivered in January 2017.&#160; In June 2016 the Company made a voluntary prepayment of $5.0 million and the financing of the Samco Scandinavia is repayable with 30 quarterly installments of $0.97 million each. The $48.7million
                    financing of DHT Tiger was drawn in 2016 in advance of the delivery of the DHT Tiger which took place in January 2017 and is repayable in quarterly installments of $0.7 million with a final payment of $29.7 in December 2023. The loan
                    bears interest at Libor plus a margin of 2.1875%.&#160; The credit agreement is guaranteed by DHT and contains a covenant requiring that at all times the charter-free market value of the vessels that secure the credit facility be no less
                    than 135% of borrowings. Also, DHT covenants that, throughout the term of the credit facility, DHT, on a consolidated basis, shall maintain:</div>
                  <div style="text-align: justify;">
                    <div>
                      <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z643a370a7c9e44a7a2da9e20f059cfb5" cellpadding="0" cellspacing="0">

                          <tr>
                            <td style="width: 18pt;"><br>
                            </td>
                            <td style="width: 27pt; vertical-align: top; font-family: Arial;"><font style="font-family: Times New Roman;">&#9679;</font></td>
                            <td style="width: auto; vertical-align: top; text-align: justify;">
                              <div style="font-family: Arial;">Value adjusted* tangible net worth of $200 million</div>
                            </td>
                          </tr>

                      </table>
                    </div>
                  </div>
                  <div style="text-align: justify;">
                    <div>
                      <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z943cf60622d5427cbf187363fc5d7d83" cellpadding="0" cellspacing="0">

                          <tr>
                            <td style="width: 18pt;"><br>
                            </td>
                            <td style="width: 27pt; vertical-align: top; font-family: Arial;"><font style="font-family: Times New Roman;">&#9679;</font></td>
                            <td style="width: auto; vertical-align: top; text-align: justify;">
                              <div style="font-family: Arial;">Value adjusted* tangible net worth shall be at least 25% of value adjusted total assets</div>
                            </td>
                          </tr>

                      </table>
                    </div>
                  </div>
                  <div style="text-align: justify;">
                    <div>
                      <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z7a86d291607b439ba5a46df419e7d843" cellpadding="0" cellspacing="0">

                          <tr>
                            <td style="width: 18pt;"><br>
                            </td>
                            <td style="width: 27pt; vertical-align: top; font-family: Arial;"><font style="font-family: Times New Roman;">&#9679;</font></td>
                            <td style="width: auto; vertical-align: top; text-align: justify;">
                              <div style="font-family: Arial;">Unencumbered consolidated cash of at least the higher of (i) $20 million and (ii) 6% of our gross interest bearing debt</div>
                            </td>
                          </tr>

                      </table>
                    </div>
                  </div>
                </div>
                <div style="text-align: justify; font-family: Arial; font-style: italic;">* Value adjusted defined as an adjustment to reflect the difference between the carrying amount and the market valuations of the Company&#8217;s vessels (as determined
                  quarterly by an approved broker).</div>
                <div> </div>
                <div><br>
                </div>
                <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
                  <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: Arial; font-size: 8pt; font-weight: normal; font-style: normal;">15</font></div>
                  <div style="page-break-after:always;" id="DSPFPageBreak">
                    <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;" noshade="noshade"></div>
                </div>
                <div><br>
                </div>
                <div>
                  <div style="font-family: Arial; font-weight: bold;"><u>Danish Ship Finance Credit Facility</u></div>
                  <div style="text-align: justify; font-family: Arial;">In November 2014 the Company entered into a credit facility totaling $49.4 million with Danish Ship Finance (&#8220;DSF&#8221;) as lender and DHT Holdings, Inc. as guarantor for the financing of
                    the VLCC newbuilding DHT Jaguar delivered in Q4 2015.&#160; The full amount of the credit facility was drawn in November 2015.&#160; Borrowings bear interest at a rate equal to Libor + 2.25% and are repayable in 10 semiannual installments of $1.3
                    million each from May 2016 to November 2020 and a final payment of $36.4 million in November 2020. The credit facility contains a covenant requiring that at all times the charter-free market value of the vessel that secure the credit
                    facility be no less than 130% of borrowings. Also, DHT covenants that, throughout the term of the credit facility, DHT, on a consolidated basis, shall maintain:</div>
                  <div style="text-align: justify;">
                    <div>
                      <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z15e1bb91db464e9cbe4bffb2c4b30469" cellpadding="0" cellspacing="0">

                          <tr>
                            <td style="width: 18pt;"><br>
                            </td>
                            <td style="width: 18pt; vertical-align: top; font-family: Arial;"><font style="font-family: Times New Roman;">&#9679;</font></td>
                            <td style="width: auto; vertical-align: top; text-align: justify;">
                              <div style="font-family: Arial;">Value adjusted* tangible net worth of $300 million</div>
                            </td>
                          </tr>

                      </table>
                    </div>
                  </div>
                  <div style="text-align: justify;">
                    <div>
                      <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0797738429434334a3c2a79e7ee57932" cellpadding="0" cellspacing="0">

                          <tr>
                            <td style="width: 18pt;"><br>
                            </td>
                            <td style="width: 18pt; vertical-align: top; font-family: Arial;"><font style="font-family: Times New Roman;">&#9679;</font></td>
                            <td style="width: auto; vertical-align: top; text-align: justify;">
                              <div style="font-family: Arial;">Value adjusted* tangible net worth shall be at least 25% of value adjusted total assets</div>
                            </td>
                          </tr>

                      </table>
                    </div>
                  </div>
                  <div style="text-align: justify;">
                    <div>
                      <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf49b5ca608614efdbbf14e78a6fa1af8" cellpadding="0" cellspacing="0">

                          <tr>
                            <td style="width: 18pt;"><br>
                            </td>
                            <td style="width: 18pt; vertical-align: top; font-family: Arial;"><font style="font-family: Times New Roman;">&#9679;</font></td>
                            <td style="width: auto; vertical-align: top; text-align: justify;">
                              <div style="font-family: Arial;">Unencumbered consolidated cash of at least the higher of (i) $30 million and (ii) 6% of our gross interest bearing debt</div>
                            </td>
                          </tr>

                      </table>
                    </div>
                  </div>
                  <div style="text-align: justify; font-family: Arial; font-style: italic;">* Value adjusted defined as an adjustment to reflect the difference between the carrying amount and the market valuations of the Company&#8217;s vessels (as determined
                    quarterly by an approved broker).</div>
                  <div><br>
                  </div>
                  <div><br>
                  </div>
                  <div style="font-family: Arial; font-weight: bold;"><u>Nordea Credit Facility</u></div>
                  <div style="text-align: justify; font-family: Arial;">$204 million of the $300 million credit facility was borrowed during the second quarter of 2017 in connection with delivery of the nine VLCCs in water from BW.&#160; The final $96 million
                    was borrowed in connection with the delivery of the two VLCC newbuildings from DSME in the second quarter of 2018.&#160; The credit facility is guaranteed by DHT Holdings, Inc., borrowings bear interest at a rate equal to Libor + 2.40%. In
                    November 2019, the Company prepaid the outstanding amounts on DHT Lake and DHT Raven, totaling $22.3 million. Subsequent to the prepayment, the sale of the DHT Utah and DHT Utik and the delivery of DHT Stallion and DHT Colt in 2018, the
                    current outstanding is repayable in quarterly installments of $4.2 million with a final payment of $119.3 million in the second quarter of 2023. The credit facility contains a covenant requiring that at all times the charter-free market
                    value of the vessels that secure the credit facility be no less than 135% of borrowings. Also, DHT covenants that, throughout the term of the credit facility, DHT, on a consolidated basis, shall maintain:</div>
                  <div style="text-align: justify;">
                    <div>
                      <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z219419407281463ba634f707527736f2" cellpadding="0" cellspacing="0">

                          <tr>
                            <td style="width: 18pt;"><br>
                            </td>
                            <td style="width: 18pt; vertical-align: top; align: right; font-family: Arial;"><font style="font-family: Times New Roman">&#9679;</font></td>
                            <td style="width: auto; vertical-align: top; text-align: justify;">
                              <div style="font-family: Arial;">Value adjusted* tangible net worth of $300 million</div>
                            </td>
                          </tr>

                      </table>
                    </div>
                  </div>
                  <div style="text-align: justify;">
                    <div>
                      <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb771e05cec0c4a8c9449874fa4b4a5b3" cellpadding="0" cellspacing="0">

                          <tr>
                            <td style="width: 18pt;"><br>
                            </td>
                            <td style="width: 18pt; vertical-align: top; align: right; font-family: Arial;"><font style="font-family: Times New Roman">&#9679;</font></td>
                            <td style="width: auto; vertical-align: top; text-align: justify;">
                              <div style="font-family: Arial;">Value adjusted* tangible net worth shall be at least 25% of value adjusted total assets</div>
                            </td>
                          </tr>

                      </table>
                    </div>
                  </div>
                  <div style="text-align: justify;">
                    <div>
                      <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc10cc8f22cb54e04906a7eb534735336" cellpadding="0" cellspacing="0">

                          <tr>
                            <td style="width: 18pt;"><br>
                            </td>
                            <td style="width: 18pt; vertical-align: top; align: right; font-family: Arial;"><font style="font-family: Times New Roman">&#9679;</font></td>
                            <td style="width: auto; vertical-align: top; text-align: justify;">
                              <div style="font-family: Arial;">Unencumbered consolidated cash of at least the higher of (i) $30 million and (ii) 6% of our gross interest bearing debt</div>
                            </td>
                          </tr>

                      </table>
                    </div>
                  </div>
                  <div style="text-align: justify; font-family: Arial; font-style: italic;">* Value adjusted defined as an adjustment to reflect the difference between the carrying amount and the market valuations of the Company&#8217;s vessels (as determined
                    quarterly by an approved broker).</div>
                  <div><br>
                  </div>
                  <div style="text-align: justify; font-family: Arial;">In September 2018 the Company secured commitment to a $50 million scrubber financing structured through an increase of the existing $300 million secured credit facility entered into in
                    the second quarter of 2017. The increased facility bear the same interest rate equal to Libor + 2.40%. In connection with the prepayment of DHT Lake and DHT Raven in November 2019, the facility was reduced to $45.0 million. As per
                    December 31, 2019, a total of $31.5 million was drawn and $13.5 million is available. The facility will have quarterly installments of $2.25 million commencing second quarter 2020. Other terms and conditions remain unchanged.</div>
                  <div><br>
                  </div>
                  <div><br>
                  </div>
                  <div style="font-family: Arial; font-weight: bold;"><u>ABN Amro Revolving Credit Facility</u></div>
                  <div style="text-align: justify; font-family: Arial;">In November 2016, the Company entered into a secured five year revolving credit facility with ABN Amro totaling $50.0 million to be used for general corporate purposes, including
                    security repurchases and the acquisition of ships. The financing bears interest at a rate equal to Libor + 2.50%.&#160; In April 2018, the Company entered into an agreement with ABN Amro to increase the revolving credit facility to $57.3
                    million with a quarterly reduction of $1.8 million starting July 31, 2018. In June 2019, the Company entered into an agreement with ABN to amend the repayment profile by reducing the quarterly reductions from $1.8 million to $1.3
                    million. Other terms and conditions remains the same. The credit facility contains a covenant requiring that at all times the charter-free market value of the vessels that secure the credit facility be no less than 135% of borrowings.
                    Also, DHT covenants that, throughout the term of the credit facility, DHT, on a consolidated basis, shall maintain:</div>
                  <div style="text-align: justify;">
                    <div>
                      <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z00c11b4ee1fa48dda88b1e534606a2ca" cellpadding="0" cellspacing="0">

                          <tr>
                            <td style="width: 18pt;"><br>
                            </td>
                            <td style="width: 18pt; vertical-align: top; align: right; font-family: Arial;"><font style="font-family: Times New Roman">&#9679;</font></td>
                            <td style="width: auto; vertical-align: top; text-align: justify;">
                              <div style="font-family: Arial;">Value adjusted* tangible net worth of $300 million</div>
                            </td>
                          </tr>

                      </table>
                    </div>
                  </div>
                  <div style="text-align: justify;">
                    <div>
                      <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2d26f235dc2a449987498b5e3c8e60db" cellpadding="0" cellspacing="0">

                          <tr>
                            <td style="width: 18pt;"><br>
                            </td>
                            <td style="width: 18pt; vertical-align: top; align: right; font-family: Arial;"><font style="font-family: Times New Roman">&#9679;</font></td>
                            <td style="width: auto; vertical-align: top; text-align: justify;">
                              <div style="font-family: Arial;">Value adjusted* tangible net worth shall be at least 25% of value adjusted total assets</div>
                            </td>
                          </tr>

                      </table>
                      <div>
                        <div>
                          <div>
                            <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" cellpadding="0" cellspacing="0">

                                <tr>
                                  <td style="width: 18pt;"><br>
                                  </td>
                                  <td style="width: 18pt; vertical-align: top; align: right; font-family: Arial;"><font style="font-family: Times New Roman">&#9679;</font></td>
                                  <td style="width: auto; vertical-align: top; text-align: justify;"><font style="font-family: Arial;">Unencumbered consolidated cash of at least the higher of (i) $30 million and (ii) 6% of our gross interest bearing debt</font></td>
                                </tr>

                            </table>
                          </div>
                        </div>
                      </div>
                    </div>
                  </div>
                </div>
                <font style="font-style: italic; font-family: Arial;">* Value adjusted defined as an adjustment to reflect the difference between the carrying amount and the market valuations of the Company&#8217;s vessels (as determined quarterly by an approved
                  broker).</font>
                <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
                  <div><br>
                  </div>
                  <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: Arial; font-size: 8pt; font-weight: normal; font-style: normal;">16</font></div>
                  <div id="DSPFPageBreak" style="page-break-after: always;">
                    <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #bfbfbf; background-color: #bfbfbf;" noshade="noshade"></div>
                </div>
                <div><br>
                </div>
                <div>
                  <div style="font-family: Arial; font-weight: bold;"><u>Interest rate swaps</u></div>
                  <div style="text-align: justify; font-family: Arial;">As of December 31, 2019, the Company has nine amortizing interest rate swaps totaling $379.9 million with maturity ranging from the second quarter 2023 to the third quarter 2023. The
                    average fixed interest rate is 2.95%. As of December 31, 2019, the fair value of the derivative financial liability related to the swaps amounted to $15.6 million.</div>
                  <div><br>
                  </div>
                  <div style="font-family: Arial; font-weight: bold;"><u>Covenant compliance</u></div>
                  <div style="text-align: justify; font-family: Arial;">As of the date of the most recent compliance certificates submitted to the banks, the Company is in compliance with its financial covenants.</div>
                  <div><br>
                  </div>
                  <div><br>
                  </div>
                  <div style="font-family: Arial; font-weight: bold;">Note 5 &#8211; Vessels</div>
                  <div style="text-align: justify; font-family: Arial;">The carrying values of the vessels may not represent their fair market value at any point in time since the market prices of second-hand vessels tend to fluctuate with changes in
                    charter rates and the cost of constructing new vessels. Historically, both charter rates and vessel values have been cyclical. The carrying amounts of vessels held and used by us are reviewed for potential impairment or reversal of
                    prior impairment charges whenever events or changes in circumstances indicate that the carrying amount of a particular vessel may not accurately reflect the recoverable amount of a particular vessel.<br>
                  </div>
                </div>
                <br>
                <div><br>
                </div>
                <div style="text-align: justify; font-family: Arial;">
                  <div style="color: #000000; line-height: 11.4pt;">
                    <table style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%; BORDER-COLLAPSE: collapse" id="z8d2b15f703484bd69d6a34b6f201c798" border="0" cellpadding="0" cellspacing="0">

                        <tr>
                          <td style="background-color: rgb(36, 64, 98); border-top: 3px none rgb(128, 128, 128); vertical-align: top; width: 80.91%;">
                            <div style="font-weight: bold; color: #ffffff; text-align: left;">Cost of Vessels</div>
                          </td>
                          <td style="background-color: rgb(36, 64, 98); border-top: 3px none rgb(128, 128, 128); vertical-align: top; width: 19.09%;">&#160;</td>
                        </tr>
                        <tr>
                          <td style="width: 80.91%; vertical-align: top; background-color: rgb(36, 64, 98);">
                            <div style="color: #ffffff; font-style: italic; text-align: left;">$ in thousands</div>
                          </td>
                          <td style="width: 19.09%; vertical-align: top; background-color: rgb(36, 64, 98);">&#160;</td>
                        </tr>
                        <tr>
                          <td style="width: 80.91%; vertical-align: top; background-color: rgb(217, 217, 217);">
                            <div style="color: #000000; text-align: left;">At January 1, 2019</div>
                          </td>
                          <td style="width: 19.09%; vertical-align: top; background-color: rgb(255, 255, 255); text-align: right;">2,071,456</td>
                        </tr>
                        <tr>
                          <td style="width: 80.91%; vertical-align: top; background-color: rgb(217, 217, 217);">
                            <div style="color: #000000; text-align: left;">Additions**</div>
                          </td>
                          <td style="width: 19.09%; vertical-align: top; background-color: rgb(255, 255, 255);">
                            <div style="color: #000000; text-align: right;">(1,139)<br>
                            </div>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 80.91%; vertical-align: top; background-color: rgb(217, 217, 217);">
                            <div style="color: #000000; text-align: left;">Transferred from vessels upgrades</div>
                          </td>
                          <td style="width: 19.09%; vertical-align: top; background-color: rgb(255, 255, 255);">
                            <div style="color: #000000; text-align: right;">39,795</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 80.91%; vertical-align: top; background-color: rgb(217, 217, 217);">
                            <div style="color: #000000; text-align: left;">Retirement ***<br>
                            </div>
                          </td>
                          <td style="width: 19.09%; vertical-align: top; background-color: rgb(255, 255, 255);">
                            <div style="color: #000000; text-align: right;">(3,116)</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 80.91%; vertical-align: top; border-bottom: 2px solid rgb(128, 128, 128); background-color: rgb(217, 217, 217);">
                            <div style="font-weight: bold; color: #000000; text-align: left;">At December 31, 2019</div>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 19.09%; vertical-align: top; border-bottom: 2px solid rgb(128, 128, 128); background-color: rgb(255, 255, 255);">
                            <div style="font-weight: bold; color: #000000; text-align: right;">2,106,997</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="background-color: #FFFFFF; border-left: 0px none #808080; border-right: 0px none; vertical-align: top; width: 80.91%;">&#160;</td>
                          <td style="background-color: #FFFFFF; border-right: 0px none #808080; vertical-align: top; width: 19.09%;">&#160;</td>
                        </tr>
                        <tr>
                          <td style="width: 80.91%; vertical-align: top; background-color: rgb(36, 64, 98);">
                            <div style="font-weight: bold; color: #ffffff; text-align: left;">Depreciation, impairment and amortization*</div>
                          </td>
                          <td style="width: 19.09%; vertical-align: top; background-color: rgb(36, 64, 98);">&#160;</td>
                        </tr>
                        <tr>
                          <td style="width: 80.91%; vertical-align: top; background-color: rgb(36, 64, 98);">
                            <div style="color: #ffffff; font-style: italic; text-align: left;">$ in thousands</div>
                          </td>
                          <td style="width: 19.09%; vertical-align: top; background-color: rgb(36, 64, 98);">&#160;</td>
                        </tr>
                        <tr>
                          <td style="width: 80.91%; vertical-align: top; background-color: rgb(217, 217, 217);">
                            <div style="color: #000000; text-align: left;">At January 1, 2019</div>
                          </td>
                          <td style="width: 19.09%; vertical-align: top; background-color: rgb(255, 255, 255);">
                            <div style="color: #000000; text-align: right;">405,646<br>
                            </div>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 80.91%; vertical-align: top; background-color: rgb(217, 217, 217);">
                            <div style="color: #000000; text-align: left;">Depreciation and amortization</div>
                          </td>
                          <td style="width: 19.09%; vertical-align: top; background-color: rgb(255, 255, 255);">
                            <div style="color: #000000; text-align: right;">115,022<br>
                            </div>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 80.91%; vertical-align: top; background-color: rgb(217, 217, 217);">
                            <div style="color: #000000; text-align: left;">Impairment charges</div>
                          </td>
                          <td style="width: 19.09%; vertical-align: top; background-color: rgb(255, 255, 255);">
                            <div style="color: #000000; text-align: right;">-<br>
                            </div>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 80.91%; vertical-align: top; background-color: rgb(217, 217, 217);">
                            <div style="color: #000000; text-align: left;">Retirement ***<br>
                            </div>
                          </td>
                          <td style="width: 19.09%; vertical-align: top; background-color: rgb(255, 255, 255);">
                            <div style="color: #000000; text-align: right;">(3,116)</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 80.91%; vertical-align: top; border-bottom: 2px solid rgb(128, 128, 128); background-color: rgb(217, 217, 217);">
                            <div style="font-weight: bold; color: #000000; text-align: left;">At December 31, 2019</div>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 19.09%; vertical-align: top; border-bottom: 2px solid rgb(128, 128, 128); background-color: rgb(255, 255, 255);">
                            <div style="font-weight: bold; color: #000000; text-align: right;">517,553</div>
                          </td>
                        </tr>
                        <tr>
                          <td rowspan="1" style="border-top: 2px solid rgb(128, 128, 128); width: 80.91%; vertical-align: top;">&#160;</td>
                          <td rowspan="1" style="border-top: 2px solid rgb(128, 128, 128); width: 19.09%; vertical-align: top;">&#160;</td>
                        </tr>
                        <tr>
                          <td rowspan="1" style="background-color: rgb(36, 64, 98); border-top: 2px none rgb(128, 128, 128); vertical-align: top; width: 80.91%; font-weight: bold; text-align: left;"><font style="color: rgb(255, 255, 255);">Carrying Amount</font></td>
                          <td rowspan="1" style="background-color: #244062; border-top: 2px none #808080; vertical-align: top; width: 19.09%;">&#160;</td>
                        </tr>
                        <tr>
                          <td rowspan="1" style="background-color: rgb(36, 64, 98); border-bottom: 2px solid rgb(128, 128, 128); border-top: 2px none rgb(128, 128, 128); vertical-align: top; width: 80.91%; color: rgb(255, 255, 255); font-style: italic; text-align: left;">$ in thousands</td>
                          <td rowspan="1" style="background-color: rgb(36, 64, 98); border-bottom: 2px solid rgb(128, 128, 128); border-top: 2px none rgb(128, 128, 128); vertical-align: top; width: 19.09%;">&#160;</td>
                        </tr>
                        <tr>
                          <td rowspan="1" style="border-top: 2px solid rgb(128, 128, 128); width: 80.91%; vertical-align: top; border-bottom: 2px solid rgb(128, 128, 128); background-color: rgb(217, 217, 217);">At January 1, 2019</td>
                          <td rowspan="1" style="border-top: 2px solid rgb(128, 128, 128); width: 19.09%; vertical-align: top; border-bottom: 2px solid rgb(128, 128, 128); background-color: rgb(255, 255, 255); text-align: right;">&#160;1,665,810</td>
                        </tr>
                        <tr>
                          <td rowspan="1" style="border-top: 2px solid rgb(128, 128, 128); width: 80.91%; vertical-align: top; border-bottom: 2px solid rgb(128, 128, 128); background-color: rgb(217, 217, 217);"><font style="font-weight: bold;">At December
                              31, 2019</font></td>
                          <td rowspan="1" style="border-top: 2px solid rgb(128, 128, 128); width: 19.09%; vertical-align: top; border-bottom: 2px solid rgb(128, 128, 128); background-color: rgb(255, 255, 255); text-align: right;"><font style="font-weight: bold;">1,589,444</font> <br>
                          </td>
                        </tr>

                    </table>
                  </div>
                </div>
                <div style="color: rgb(0, 0, 0); font-family: Arial;"> <br>
                </div>
                <div style="color: rgb(0, 0, 0); font-family: Arial;">*Accumulated numbers</div>
                <div style="color: rgb(0, 0, 0); font-family: Arial;">**Adjustments to capitalized expenses in 2018</div>
                <div style="color: rgb(0, 0, 0); font-family: Arial;">
                  <div style="color: rgb(0, 0, 0);">***Relates to completed depreciation of drydocking for DHT Condor</div>
                </div>
                <div><br>
                </div>
                <div><br>
                </div>
                <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt; font-family: Arial;">
                  <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">17</font></div>
                  <div id="DSPFPageBreak" style="page-break-after: always;">
                    <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #bfbfbf; background-color: #bfbfbf;" noshade="noshade"></div>
                </div>
                <!--PROfilePageNumberReset%Num%18%%%-->
                <div><br>
                </div>
                <div style="font-family: Arial;">
                  <div style="LINE-HEIGHT: 11.4pt"> </div>
                  <div>
                    <table style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%; BORDER-COLLAPSE: collapse" id="z3bd9fe223ac44b7381b5d120b5c0a323" border="0" cellpadding="2" cellspacing="0">

                        <tr>
                          <td style="width: 71.34%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
                            <div style="font-weight: bold; color: #ffffff; text-align: left; line-height: 10.25pt;">Cost of vessel upgrades<br>
                            </div>
                          </td>
                          <td style="width: 28.66%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-right: 3px solid rgb(128, 128, 128);">
                            <div style="font-weight: bold; color: #ffffff; text-align: left; line-height: 10.25pt;">&#160;</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 71.34%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
                            <div style="color: #ffffff; font-style: italic; text-align: left; line-height: 10.25pt;">$ in thousands</div>
                          </td>
                          <td style="width: 28.66%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-right: 3px solid rgb(128, 128, 128);">
                            <div style="font-weight: bold; color: #ffffff; text-align: left; line-height: 10.25pt;">&#160;</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 71.34%; vertical-align: bottom; background-color: rgb(217, 217, 217);">
                            <div style="color: #000000; text-align: left; line-height: 10.25pt;">At January 1, 2019</div>
                          </td>
                          <td style="width: 28.66%; vertical-align: bottom; background-color: rgb(255, 255, 255); text-align: right; border-right: 3px solid rgb(128, 128, 128);">-<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 71.34%; vertical-align: bottom; background-color: rgb(217, 217, 217);">
                            <div style="color: #000000; text-align: left; line-height: 10.25pt;">Additions</div>
                          </td>
                          <td style="width: 28.66%; vertical-align: bottom; background-color: rgb(255, 255, 255); text-align: right; border-right: 3px solid rgb(128, 128, 128);">51,446<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 71.34%; vertical-align: bottom; background-color: rgb(217, 217, 217);">
                            <div style="color: #000000; text-align: left; line-height: 10.25pt;">Transferred to vessels</div>
                          </td>
                          <td style="width: 28.66%; vertical-align: bottom; background-color: rgb(255, 255, 255); text-align: right; border-right: 3px solid rgb(128, 128, 128);">(39,795)<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 71.34%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); background-color: rgb(217, 217, 217);">
                            <div style="font-weight: bold; color: #000000; text-align: left; line-height: 10.25pt;">At December 31, 2019</div>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 28.66%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128); background-color: rgb(255, 255, 255); text-align: right; border-right: 3px solid rgb(128, 128, 128);"><font style="font-weight: bold;">11,652</font><br>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-right: 0px solid; vertical-align: bottom; width: 71.34%;">
                            <div style="color: #000000; text-align: left; line-height: 10.25pt;">&#160;</div>
                          </td>
                          <td style="vertical-align: bottom; width: 28.66%;">
                            <div style="color: #000000; text-align: left; line-height: 10.25pt;">&#160;</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 71.34%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
                            <div style="font-weight: bold; color: #ffffff; text-align: left; line-height: 10.25pt;">Carrying Amount</div>
                          </td>
                          <td style="width: 28.66%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-right: 3px solid rgb(128, 128, 128);">
                            <div style="color: #ffffff; text-align: left; line-height: 10.25pt;">&#160;</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 71.34%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
                            <div style="color: #ffffff; font-style: italic; text-align: left; line-height: 10.25pt;">$ in thousands</div>
                          </td>
                          <td style="width: 28.66%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-right: 3px solid rgb(128, 128, 128);">
                            <div style="color: #ffffff; text-align: left; line-height: 10.25pt;">&#160;</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 71.34%; vertical-align: bottom; background-color: rgb(217, 217, 217);">
                            <div style="color: #000000; text-align: left; line-height: 10.25pt;">At January 1, 2019</div>
                          </td>
                          <td style="width: 28.66%; vertical-align: bottom; background-color: rgb(255, 255, 255); border-right: 3px solid rgb(128, 128, 128);">
                            <div style="color: #000000; text-align: right; line-height: 10.25pt;">-<br>
                            </div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 71.34%; vertical-align: bottom; border-bottom: 3px solid rgb(128, 128, 128); background-color: rgb(217, 217, 217);">
                            <div style="font-weight: bold; color: #000000; text-align: left; line-height: 10.25pt;">At December 31, 2019</div>
                          </td>
                          <td style="border-top: 2px solid rgb(128, 128, 128); width: 28.66%; vertical-align: bottom; border-bottom: 3px solid rgb(128, 128, 128); background-color: rgb(255, 255, 255); border-right: 3px solid rgb(128, 128, 128);">
                            <div style="font-weight: bold; color: #000000; text-align: right; line-height: 10.25pt;">11,652<br>
                            </div>
                          </td>
                        </tr>

                    </table>
                  </div>
                  <div style="LINE-HEIGHT: 11.4pt">&#160;</div>
                  <div style="LINE-HEIGHT: 11.4pt">
                    <div style="color: #000000; text-align: justify;">&#160;</div>
                  </div>
                </div>
                <div><br>
                </div>
                <div>
                  <div style="font-family: Arial; font-weight: bold;">Note 6 &#8211; Equity and Convertible Bond Offerings</div>
                  <div><br>
                  </div>
                  <div style="font-family: Arial; font-weight: bold;"><u>Convertible Senior Note Offering</u></div>
                  <div style="text-align: justify; font-family: Arial;">On September 16, 2014 the Company completed a private placement of $150 million aggregate principal amount of convertible senior notes due 2019 (the &#8220;2019 Notes&#8221;). DHT paid interest at
                    a fixed rate of 4.5% per annum, payable semiannually in arrears. Net proceeds to DHT were approximately $145.9 million after the payment of placement agent fees. The value of the conversion right was estimated to $21.8 million; hence
                    $21.8 million of the aggregate principal amount of $150.0 million was classified as equity. The Notes were convertible into common stock of DHT at any time after placement until one business day prior to their maturity. The initial
                    conversion price was $8.125 per share of common stock (equivalent to 18,461,538 shares of common stock), and was subject to customary anti-dilution adjustments. On October 1, 2019 the Company announced that holders of $26,434,000 in
                    aggregate principal amount of the Company&#8217;s 4.5% Convertible Senior Notes due October 1, 2019, exercised their right to convert their notes into shares at the conversion price of $6.0216 per share. As a result the Company issued
                    4,389,858 shares of common stock. The remaining $6,426,000 in aggregate principal amount was repaid in cash.</div>
                  <div><br>
                  </div>
                  <div style="text-align: justify; font-family: Arial;">In August 2018 the Company completed a privately negotiated exchange agreement with certain holders of the outstanding 4.5% Convertible Senior Notes due 2019 to exchange approximately
                    $73.0 million aggregate principal amount of the existing notes for approximately $80.3 million aggregate principal amount of the Company&#8217;s new 4.5% Convertible Senior Notes due 2021. In addition, a private placement was completed of
                    approximately $44.7 million aggregate principal amount of the Company&#8217;s new 4.5% Convertible Senior Notes due 2021 for gross proceeds of approximately $41.6 million. Net proceeds to DHT were approximately $38.9 million after the payment
                    of placement agent fees.</div>
                  <div><br>
                  </div>
                  <div style="text-align: justify; font-family: Arial;">Following closing of the private exchange and the private placement, there are $125 million aggregate principal amount of convertible senior notes due 2021 (the &#8220;2021 Notes&#8221;)
                    outstanding. The 2021 Notes will bear interest at a rate of 4.5% per annum on the principal amount accruing from August 21, 2018. Interest will be payable semiannually in arrears on February 15 and August 15 each year, beginning on
                    February 2019. Interest is computed on the basis of 360-day year comprised of twelve 30-days months. The initial conversion price was $6.2599 per share of common stock (equivalent to 19,968,370 shares of common stock) and is subject to
                    customary anti-dilution adjustments. As a result of the cumulative effect of previously announced cash dividends, the conversion price was adjusted to $5.9825 effective November 6, 2019. Based on the adjusted conversion price the total
                    number of shares to be issued would be 20,894,108. The 2021 Notes will mature on August 15, 2021, unless earlier converted, redeemed or repurchased in accordance with their terms.<br>
                  </div>
                </div>
                <br>
                <div><br>
                </div>
                <div style="font-family: Arial; font-weight: bold;">Note 7 &#8211; Stockholders equity and dividend payment</div>
                <div style="font-family: Arial; font-weight: bold;"> </div>
                <div><br>
                </div>
                <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z3c0799a4e3ee40188b6fdfff7c94029a" border="0" cellpadding="1" cellspacing="0">

                    <tr>
                      <td style="background-color: #244062; vertical-align: bottom; width: 56.04%;">
                        <div style="color: rgb(255, 255, 255); font-family: Arial; background-color: rgb(36, 64, 98); font-weight: normal; font-style: normal; font-variant: normal; text-transform: none;">&#160;</div>
                      </td>
                      <td style="background-color: #244062; vertical-align: bottom; width: 19.1%;">
                        <div style="text-align: right; color: rgb(255, 255, 255); font-family: Arial; font-weight: bold; background-color: rgb(36, 64, 98); font-style: normal; font-variant: normal; text-transform: none;">Common stock</div>
                      </td>
                      <td style="background-color: #244062; vertical-align: bottom; width: 24.78%;">
                        <div style="text-align: right; color: rgb(255, 255, 255); font-family: Arial; font-weight: bold; background-color: rgb(36, 64, 98); font-style: normal; font-variant: normal; text-transform: none;">Preferred stock</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="width: 56.04%; vertical-align: bottom;">
                        <div style="font-family: Arial;">Issued at December 31, 2019</div>
                      </td>
                      <td style="width: 19.1%; vertical-align: bottom; text-align: right;">
                        <div style="font-family: Arial;">146,819,401</div>
                      </td>
                      <td style="width: 24.78%; vertical-align: middle;">
                        <div style="text-align: right; font-family: Arial;">-<br>
                        </div>
                      </td>
                    </tr>
                    <tr>
                      <td style="width: 56.04%; vertical-align: bottom;">
                        <div style="font-family: Arial;">Shares to be issued assuming conversion of</div>
                        <div style="font-family: Arial;">&#160;&#160; convertible notes due 2021* </div>
                      </td>
                      <td style="width: 19.1%; vertical-align: bottom; text-align: right; font-family: Arial;">31,141,489<br>
                      </td>
                      <td style="width: 24.78%; vertical-align: middle;">&#160;</td>
                    </tr>
                    <tr>
                      <td style="width: 56.04%; vertical-align: bottom;">
                        <div style="font-family: Arial;">Numbers of shares authorized for issue</div>
                        <div style="font-family: Arial;">&#160;&#160; at December 31, 2019 </div>
                      </td>
                      <td style="width: 19.1%; vertical-align: bottom; text-align: right; font-family: Arial;">250,000,000</td>
                      <td style="width: 24.78%; vertical-align: bottom; text-align: right; font-family: Arial;">&#160;1,000,000</td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 3px solid rgb(0, 0, 0); vertical-align: bottom; width: 56.04%;">
                        <div style="font-family: Arial;">Par value</div>
                      </td>
                      <td style="border-bottom: 3px solid rgb(0, 0, 0); vertical-align: bottom; width: 19.1%; text-align: right;">
                        <div style="font-family: Arial;">$ 0.01</div>
                      </td>
                      <td style="border-bottom: 3px solid rgb(0, 0, 0); vertical-align: middle; width: 24.78%;">
                        <div style="text-align: right; font-family: Arial;">$ 0.01</div>
                      </td>
                    </tr>

                </table>
                <div style="font-family: Arial; font-size: 8pt; font-style: italic;">&#160;<font style="font-size: 10pt;">*assuming the maximum Fundamental Change conversion rate.</font><font style="font-size: 10pt;"><br>
                  </font>
                  <div><font style="font-size: 10pt;"><br>
                    </font> </div>
                </div>
                <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
                  <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: Arial; font-size: 8pt; font-weight: normal; font-style: normal;">18</font></div>
                  <div id="DSPFPageBreak" style="page-break-after: always;">
                    <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #bfbfbf; background-color: #bfbfbf;" noshade="noshade"></div>
                </div>
                <div style="font-family: Arial; font-size: 8pt; font-style: italic;"><font style="font-size: 10pt;"><br>
                  </font> <font style="font-size: 10pt;"> </font>
                  <div style="font-size: 10pt; font-style: italic;"><u>Common stock:</u></div>
                  <div style="font-size: 10pt; font-style: normal; text-align: justify;">Each outstanding share of common stock entitles the holder to one vote on all matters submitted to a vote of stockholders.</div>
                  <div><br>
                  </div>
                  <div><br>
                  </div>
                  <div style="font-size: 10pt; font-style: italic;"><u>Preferred stock:</u></div>
                  <div style="font-size: 10pt; text-align: justify;"><font style="font-style: normal;">I</font><font style="font-style: normal;"><font style="font-style: normal;">n</font> the first quarter 2017, the board established two series of
                      preferred stock: Series C Preferred Stock and Series D Preferred Stock, the terms of which are detailed in Current Reports on Form 6-K dated January 30, 2017 and March 24, 2017, respectively.&#160; As of December 31, 2019, no shares of
                      Series C Preferred Stock or Series D Preferred Stock were outstanding. Terms and rights of any other preferred shares will be established by the board when or if such shares would be issued.</font></div>
                  <div><br>
                  </div>
                  <div style="font-size: 10pt; font-weight: bold; font-style: normal;"><u>Stock repurchase</u></div>
                  <div style="font-size: 10pt; font-style: normal; text-align: justify;">The Company did not make any share repurchases during Q4 2019. In March 2019, the Company purchased 725,298 of its own shares in the open market for an aggregate
                    consideration of $3.2 million, at an average price of $4.47 per share.</div>
                  <div><br>
                  </div>
                  <div style="font-size: 10pt; font-weight: bold; font-style: normal;"><u>Dividend payment</u></div>
                  <font style="font-style: normal;"> </font>
                  <div><br>
                  </div>
                  <div style="font-size: 10pt; font-style: normal;">Dividend payment as of December 31, 2019:</div>
                  <br>
                </div>
                <div>
                  <div style="font-family: Arial;">
                    <table style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%; BORDER-COLLAPSE: collapse" id="z0cc1045154394f608e253b4b52c5407c" border="0" cellpadding="0" cellspacing="0">

                        <tr>
                          <td style="WIDTH: 46%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #808080 2px solid; BACKGROUND-COLOR: #244062">
                            <div style="font-weight: bold; color: #ffffff; text-align: left;">Payment date</div>
                          </td>
                          <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #808080 2px solid; BACKGROUND-COLOR: #244062" colspan="2">
                            <div style="font-weight: bold; color: #ffffff; text-align: center;">Total Payment</div>
                          </td>
                          <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #808080 2px solid; BACKGROUND-COLOR: #244062" colspan="2">
                            <div style="font-weight: bold; color: #ffffff; text-align: center;">Per common share</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="WIDTH: 46%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #d9d9d9">
                            <div style="color: #000000; text-align: left;">November 14, 2019<br>
                            </div>
                          </td>
                          <td style="WIDTH: 2%; VERTICAL-ALIGN: bottom">
                            <div style="color: #000000; text-align: left;">$</div>
                          </td>
                          <td style="WIDTH: 26%; VERTICAL-ALIGN: bottom">
                            <div style="color: #000000; text-align: center;">7.3 million</div>
                          </td>
                          <td style="WIDTH: 2%; VERTICAL-ALIGN: bottom">
                            <div style="color: #000000; text-align: left;">$</div>
                          </td>
                          <td style="WIDTH: 23.5%; VERTICAL-ALIGN: bottom">
                            <div style="color: #000000; text-align: center;">0.05</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="WIDTH: 46%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #d9d9d9">
                            <div style="color: #000000; text-align: left;">August 29, 2019</div>
                          </td>
                          <td style="WIDTH: 2%; VERTICAL-ALIGN: bottom">
                            <div style="color: #000000; text-align: left;">$</div>
                          </td>
                          <td style="WIDTH: 26%; VERTICAL-ALIGN: bottom">
                            <div style="color: #000000; text-align: center;">2.8 million</div>
                          </td>
                          <td style="WIDTH: 2%; VERTICAL-ALIGN: bottom">
                            <div style="color: #000000; text-align: left;">$</div>
                          </td>
                          <td style="WIDTH: 23.5%; VERTICAL-ALIGN: bottom">
                            <div style="color: #000000; text-align: center;">0.02</div>
                          </td>
                        </tr>
                        <tr>
                          <td rowspan="1" style="WIDTH: 46%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #d9d9d9">May 28, 2019 <br>
                          </td>
                          <td rowspan="1" style="WIDTH: 2%; VERTICAL-ALIGN: bottom">$ <br>
                          </td>
                          <td rowspan="1" style="width: 26%; vertical-align: bottom; text-align: center;">11.4 million<br>
                          </td>
                          <td rowspan="1" style="WIDTH: 2%; VERTICAL-ALIGN: bottom">$ <br>
                          </td>
                          <td rowspan="1" style="width: 23.5%; vertical-align: bottom; text-align: center;">0.08<br>
                          </td>
                        </tr>
                        <tr>
                          <td style="WIDTH: 46%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #d9d9d9">
                            <div style="color: #000000; text-align: left;">February 26, 2019</div>
                          </td>
                          <td style="WIDTH: 2%; VERTICAL-ALIGN: bottom">
                            <div style="color: #000000; text-align: left;">$</div>
                          </td>
                          <td style="WIDTH: 26%; VERTICAL-ALIGN: bottom">
                            <div style="color: #000000; text-align: center;">7.1 million</div>
                          </td>
                          <td style="WIDTH: 2%; VERTICAL-ALIGN: bottom">
                            <div style="color: #000000; text-align: left;">$</div>
                          </td>
                          <td style="WIDTH: 23.5%; VERTICAL-ALIGN: bottom">
                            <div style="color: #000000; text-align: center;">0.05</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="BORDER-TOP: #808080 2px solid; WIDTH: 46%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #808080 2px solid; BACKGROUND-COLOR: #d9d9d9">
                            <div style="font-weight: bold; color: #000000; text-align: left;">Total payment as per December 31, 2019</div>
                          </td>
                          <td style="BORDER-TOP: #808080 2px solid; WIDTH: 2%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #808080 2px solid">
                            <div style="font-weight: bold; color: #000000; text-align: left;">$</div>
                          </td>
                          <td style="BORDER-TOP: #808080 2px solid; WIDTH: 26%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #808080 2px solid">
                            <div style="font-weight: bold; color: #000000; text-align: center;">28.7 million</div>
                          </td>
                          <td style="BORDER-TOP: #808080 2px solid; WIDTH: 2%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #808080 2px solid">
                            <div style="font-weight: bold; color: #000000; text-align: left;">$</div>
                          </td>
                          <td style="BORDER-TOP: #808080 2px solid; WIDTH: 23.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #808080 2px solid">
                            <div style="font-weight: bold; color: #000000; text-align: center;">0.20</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="BORDER-TOP: #808080 2px solid; WIDTH: 46%; VERTICAL-ALIGN: bottom">&#160;</td>
                          <td style="BORDER-TOP: #808080 2px solid; WIDTH: 2%; VERTICAL-ALIGN: bottom">&#160;</td>
                          <td style="BORDER-TOP: #808080 2px solid; WIDTH: 26%; VERTICAL-ALIGN: bottom">&#160;</td>
                          <td style="BORDER-TOP: #808080 2px solid; WIDTH: 2%; VERTICAL-ALIGN: bottom">&#160;</td>
                          <td style="BORDER-TOP: #808080 2px solid; WIDTH: 23.5%; VERTICAL-ALIGN: bottom">&#160;</td>
                        </tr>
                        <tr>
                          <td style="WIDTH: 46%; VERTICAL-ALIGN: bottom">
                            <div style="text-align: left;">Dividend payment as of December 31, 2018:</div>
                          </td>
                          <td style="WIDTH: 2%; VERTICAL-ALIGN: bottom">&#160;</td>
                          <td style="WIDTH: 26%; VERTICAL-ALIGN: bottom">&#160;</td>
                          <td style="WIDTH: 2%; VERTICAL-ALIGN: bottom">&#160;</td>
                          <td style="WIDTH: 23.5%; VERTICAL-ALIGN: bottom">&#160;</td>
                        </tr>
                        <tr>
                          <td style="WIDTH: 46%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #808080 2px solid">&#160;</td>
                          <td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #808080 2px solid">&#160;</td>
                          <td style="WIDTH: 26%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #808080 2px solid">&#160;</td>
                          <td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #808080 2px solid">&#160;</td>
                          <td style="WIDTH: 23.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #808080 2px solid">&#160;</td>
                        </tr>
                        <tr>
                          <td style="WIDTH: 46%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #808080 2px solid; BACKGROUND-COLOR: #244062">
                            <div style="font-weight: bold; color: #ffffff; text-align: left;">Payment date</div>
                          </td>
                          <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #808080 2px solid; BACKGROUND-COLOR: #244062" colspan="2">
                            <div style="font-weight: bold; color: #ffffff; text-align: center;">Total Payment</div>
                          </td>
                          <td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #808080 2px solid; BACKGROUND-COLOR: #244062" colspan="2">
                            <div style="font-weight: bold; color: #ffffff; text-align: center;">Per common share</div>
                          </td>
                        </tr>
                        <tr style="HEIGHT: 17px">
                          <td style="BORDER-TOP: #808080 2px solid; WIDTH: 46%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM-STYLE: none; PADDING-BOTTOM: 2px; BORDER-BOTTOM-COLOR: ; BACKGROUND-COLOR: #d9d9d9">
                            <div style="color: #000000; text-align: left;">November 23, 2018<br>
                            </div>
                          </td>
                          <td style="BORDER-TOP: #808080 2px solid; WIDTH: 2%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM-STYLE: none">
                            <div style="color: #000000; text-align: left;">$</div>
                          </td>
                          <td style="BORDER-TOP: #808080 2px solid; WIDTH: 26%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM-STYLE: none">
                            <div style="color: #000000; text-align: center;">2.9 million</div>
                          </td>
                          <td style="BORDER-TOP: #808080 2px solid; WIDTH: 2%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM-STYLE: none">
                            <div style="color: #000000; text-align: left;">$</div>
                          </td>
                          <td style="BORDER-TOP: #808080 2px solid; WIDTH: 23.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM-STYLE: none">
                            <div style="color: #000000; text-align: center;">0.02</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="BORDER-TOP-STYLE: none; WIDTH: 46%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM-STYLE: none; PADDING-BOTTOM: 2px; BORDER-BOTTOM-COLOR: ; BACKGROUND-COLOR: #d9d9d9">
                            <div style="color: #000000; text-align: left;">August 31, 2018</div>
                          </td>
                          <td style="BORDER-TOP-STYLE: none; WIDTH: 2%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM-STYLE: none">
                            <div style="color: #000000; text-align: left;">$</div>
                          </td>
                          <td style="BORDER-TOP-STYLE: none; WIDTH: 26%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM-STYLE: none">
                            <div style="color: #000000; text-align: center;">2.9 million</div>
                          </td>
                          <td style="BORDER-TOP-STYLE: none; WIDTH: 2%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM-STYLE: none">
                            <div style="color: #000000; text-align: left;">$</div>
                          </td>
                          <td style="BORDER-TOP-STYLE: none; WIDTH: 23.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM-STYLE: none">
                            <div style="color: #000000; text-align: center;">0.02</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="BORDER-TOP-STYLE: none; WIDTH: 46%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM-STYLE: none; BACKGROUND-COLOR: #d9d9d9">
                            <div style="color: #000000; text-align: left;">May 30, 2018</div>
                          </td>
                          <td style="BORDER-TOP-STYLE: none; WIDTH: 2%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM-STYLE: none">
                            <div style="color: #000000; text-align: left;">$</div>
                          </td>
                          <td style="BORDER-TOP-STYLE: none; WIDTH: 26%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM-STYLE: none">
                            <div style="color: #000000; text-align: center;">2.9 million</div>
                          </td>
                          <td style="BORDER-TOP-STYLE: none; WIDTH: 2%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM-STYLE: none">
                            <div style="color: #000000; text-align: left;">$</div>
                          </td>
                          <td style="BORDER-TOP-STYLE: none; WIDTH: 23.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM-STYLE: none">
                            <div style="color: #000000; text-align: center;">0.02</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="BORDER-TOP-STYLE: none; WIDTH: 46%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #808080 2px solid; BACKGROUND-COLOR: #d9d9d9">
                            <div style="color: #000000; text-align: left;">February 28, 2018</div>
                          </td>
                          <td style="BORDER-TOP-STYLE: none; WIDTH: 2%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #808080 2px solid">
                            <div style="color: #000000; text-align: left;">$</div>
                          </td>
                          <td style="BORDER-TOP-STYLE: none; WIDTH: 26%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #808080 2px solid">
                            <div style="color: #000000; text-align: center;">2.9 million</div>
                          </td>
                          <td style="BORDER-TOP-STYLE: none; WIDTH: 2%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #808080 2px solid">
                            <div style="color: #000000; text-align: left;">$</div>
                          </td>
                          <td style="BORDER-TOP-STYLE: none; WIDTH: 23.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #808080 2px solid">
                            <div style="color: #000000; text-align: center;">0.02</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="BORDER-TOP: #808080 2px solid; WIDTH: 46%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #808080 2px solid; BACKGROUND-COLOR: #d9d9d9">
                            <div style="font-weight: bold; color: #000000; text-align: left;">Total payment as per December 31, 2018</div>
                          </td>
                          <td style="BORDER-TOP: #808080 2px solid; WIDTH: 2%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #808080 2px solid">
                            <div style="font-weight: bold; color: #000000; text-align: left;">$</div>
                          </td>
                          <td style="BORDER-TOP: #808080 2px solid; WIDTH: 26%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #808080 2px solid">
                            <div style="font-weight: bold; color: #000000; text-align: center;">11.5 million</div>
                          </td>
                          <td style="BORDER-TOP: #808080 2px solid; WIDTH: 2%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #808080 2px solid">
                            <div style="font-weight: bold; color: #000000; text-align: left;">$</div>
                          </td>
                          <td style="BORDER-TOP: #808080 2px solid; WIDTH: 23.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #808080 2px solid">
                            <div style="font-weight: bold; color: #000000; text-align: center;">0.08</div>
                          </td>
                        </tr>

                    </table>
                  </div>
                  <div>&#160;</div>
                </div>
                <br>
                <div style="font-family: Arial; font-weight: bold;">Note 8 &#8211; Accounts receivable and accrued revenues</div>
                <div style="font-family: Arial; text-align: justify;">Accounts receivable and accrued revenues totaling $107.8 million as of December 31, 2019 consists of accounts receivable of $48.1 million with no material amounts overdue and accrued
                  revenues of $59.7 million.</div>
                <div><br>
                </div>
                <div><br>
                </div>
                <div style="font-family: Arial; font-weight: bold;">Note 9 - Financial risk management, objectives and policies</div>
                <div style="font-family: Arial; text-align: justify;">Note 9 in the 2018 annual report on Form 20-F provides for details of financial risk management objectives and policies.</div>
                <div><br>
                </div>
                <div style="font-family: Arial; text-align: justify;">The Company&#8217;s principal financial liability consists of long-term debt with the main purpose being to partly finance the Company&#8217;s assets and operations. The Company&#8217;s financial assets
                  mainly comprise cash. The Company is exposed to market risk, credit risk and liquidity risk. The Company&#8217;s senior management oversees the management of these risks.</div>
                <div><br>
                </div>
              </div>
              <div style="LINE-HEIGHT: 11.4pt">
                <div style="font-family: Arial; font-weight: bold;"> <br>
                </div>
                <div style="font-family: Arial; font-weight: bold;">Note 10 &#8211; Subsequent events</div>
                <div style="font-family: Arial; text-align: justify;">On February 5, 2020, the Board approved a dividend of $0.32 per common share related to the fourth quarter 2019 to be paid on February 25, 2020 for shareholders of record as of February
                  18, 2020.<br>
                </div>
                <div style="font-family: Arial; text-align: justify;"> <br>
                </div>
                <div style="font-family: Arial; text-align: justify;"> <br>
                </div>
                <div style="font-family: Arial; text-align: justify;"> <br>
                </div>
                <div style="font-family: Arial; text-align: center;"><font style="font-size: 8pt;">19</font><br>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
