<SEC-DOCUMENT>0001140361-21-006007.txt : 20210224
<SEC-HEADER>0001140361-21-006007.hdr.sgml : 20210224
<ACCEPTANCE-DATETIME>20210224163745
ACCESSION NUMBER:		0001140361-21-006007
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		14
CONFORMED PERIOD OF REPORT:	20210224
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210224
DATE AS OF CHANGE:		20210224

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GENCO SHIPPING & TRADING LTD
		CENTRAL INDEX KEY:			0001326200
		STANDARD INDUSTRIAL CLASSIFICATION:	DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			1T
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33393
		FILM NUMBER:		21673929

	BUSINESS ADDRESS:	
		STREET 1:		299 PARK AVENUE
		STREET 2:		12TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10171
		BUSINESS PHONE:		(646) 443-8550

	MAIL ADDRESS:	
		STREET 1:		299 PARK AVENUE
		STREET 2:		12TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10171
</SEC-HEADER>
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    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 14pt; font-weight: bold;">UNITED STATES</div>

    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>

    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">WASHINGTON, D.C. 20549</div>

    <div style="font-family: 'Times New Roman';"><br />
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    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 18pt; font-weight: bold;">FORM <ix:nonNumeric name="dei:DocumentType" id="Fact_0a548590041e495380a9b81ca14a69b8" contextRef="c20210224to20210224">8-K</ix:nonNumeric></div>

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    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">CURRENT REPORT</div>

    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934</div>

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    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">Date of Report (Date of earliest event reported):&#160; <ix:nonNumeric name="dei:DocumentPeriodEndDate" id="Fact_ae812b8008d64b7f9461c6bc9b0a1078" contextRef="c20210224to20210224" format="ixt:datemonthdayyearen">February 24, 2021</ix:nonNumeric></div>

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    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">(Exact name of registrant as specified in its charter)</div>

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    <td style="width: 33.34%; vertical-align: top;">
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            <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><span style="-sec-ix-hidden:Fact_070333a84edf497a94c110afae07bcbe">299 Park Avenue</span><br />
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    <td style="width: 49%; vertical-align: top; text-align: center;" rowspan="1">(Address of principal executive offices)</td>

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    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">Registrant&#8217;s telephone number, including area code:&#160; (<ix:nonNumeric name="dei:CityAreaCode" id="Fact_bf5975e26eb140b298aab7a306d47746" contextRef="c20210224to20210224">646</ix:nonNumeric>)
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    <div style="font-family: 'Times New Roman';">
      <div style="text-align: left; margin-left: 36pt; font-size: 10pt;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<span style="font-size: 10pt; font-style: italic;">see</span> General Instruction A.2. below):</div>

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      </div>

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            <div style="font-size: 10pt;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
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    <div style="font-family: 'Times New Roman';">&#160;</div>

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    <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#127;<ix:nonNumeric name="dei:SolicitingMaterial" id="Fact_7ce9231133e245a89207ad0ec342f8d5" contextRef="c20210224to20210224" format="ixt-sec:boolballotbox">&#x2610;</ix:nonNumeric></td>

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            <div style="font-size: 10pt;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
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    <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#127;<ix:nonNumeric name="dei:PreCommencementTenderOffer" id="Fact_878674aeb8ec4c8c8b510b43cee2f70d" contextRef="c20210224to20210224" format="ixt-sec:boolballotbox">&#x2610;</ix:nonNumeric></td>

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            <div style="font-size: 10pt;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>
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    <div style="font-family: 'Times New Roman';">&#160;</div>

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    <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#127;<ix:nonNumeric name="dei:PreCommencementIssuerTenderOffer" id="Fact_f640c50e1797403d85afd15be5310561" contextRef="c20210224to20210224" format="ixt-sec:boolballotbox">&#x2610;</ix:nonNumeric></td>

    <td style="width: auto; vertical-align: top; text-align: left; font-family: 'Times New Roman';">
            <div style="font-size: 10pt;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>
          </td>

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    <div style="font-family: 'Times New Roman';"><br />
    </div>

    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of
      the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</div>

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    <div style="text-align: right;"><span style="font-size: 10pt; font-family: 'Times New Roman';">Emerging growth company</span><span style="font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<span style="font-size: 10pt;">&#127;<ix:nonNumeric name="dei:EntityEmergingGrowthCompany" id="Fact_f09f096232304a4c97036033ceadb22b" contextRef="c20210224to20210224" format="ixt-sec:boolballotbox">&#x2610;</ix:nonNumeric></span></span></div>

    <div style="font-family: 'Times New Roman';"><br />
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    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised
      financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<span style="font-size: 10pt;">&#127;&#9744;</span></div>

    <div style="font-family: 'Times New Roman';">&#160;</div>

    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Securities registered pursuant to Section 12(b) of the Act:</div>

    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;"> <br />
    </div>

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            <div style="text-align: left; font-size: 10pt;">Title of each class</div>
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    <td style="width: 1%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman';" colspan="1">&#160;</td>

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            <div style="text-align: left; font-size: 10pt;">Trading Symbol(s)</div>
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    <td style="width: 1%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman';" colspan="1">&#160;</td>

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            <div style="text-align: left; font-size: 10pt;">Name of exchange on which registered</div>
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    <td style="width: 34%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman';">
            <div style="text-align: left; font-size: 10pt;"><ix:nonNumeric name="dei:Security12bTitle" id="Fact_74f800081c5441b8a0a63d6c0ed26ac9" contextRef="c20210224to20210224">Common stock, par value $0.01 per share</ix:nonNumeric><br />
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            <div style="text-align: left; font-size: 10pt;"><ix:nonNumeric name="dei:TradingSymbol" id="Fact_25f1af555d4c4ec0a14cbd6a3fc8e675" contextRef="c20210224to20210224">GNK</ix:nonNumeric><br />
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            <div style="text-align: left; font-size: 10pt;"><span style="-sec-ix-hidden:Fact_d6521b18bb40481ba03c8876227b3345">New York Stock Exchange (NYSE)</span><br />
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          </td>

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    <td style="width: 45pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Item 2.02</td>

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            <div style="font-size: 10pt; font-weight: bold;">Results of Operations and Financial Condition.</div>
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    <div style="font-family: 'Times New Roman';"><br />
    </div>

    <div style="text-align: left; margin-right: 64.8pt; font-family: 'Times New Roman'; font-size: 10pt;">Attached and incorporated herein by reference as Exhibit 99.1 is a copy of a press release of Genco Shipping &amp; Trading Limited (the &#8220;Company&#8221;),
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    <div style="font-family: 'Times New Roman';"><br />
    </div>

    <div style="text-align: left; margin-right: 64.8pt; font-family: 'Times New Roman'; font-size: 10pt;">The information set forth under &#8220;Item 2.02 Results of Operations and Financial Condition,&#8221; including&#160; Exhibit 99.1 attached hereto, shall not be
      deemed &#8220;filed&#8221; for purposes of Section 18 of the Securities Act of 1934, as amended, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by
      specific reference in such filing.</div>

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    </div>

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    <td style="width: 45pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Item 9.01</td>

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            <div style="font-size: 10pt; font-weight: bold;">Financial Statements and Exhibits.</div>
          </td>

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    <div style="font-family: 'Times New Roman';"><br />
    </div>

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              <div style="text-align: left;"><span style="font-size: 10pt; font-family: 'Times New Roman';">(d)</span></div>
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              <div style="text-align: left;"><span style="font-family: 'Times New Roman';"><span style="font-size: 10pt;">Exhibits</span></span></div>
            </td>

  </tr>


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    <div style="font-family: 'Times New Roman';"><br />
    </div>

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    <td style="width: 15%; vertical-align: top; font-family: 'Times New Roman';">
            <div style="text-align: left; font-size: 10pt;"><span style="text-decoration: underline;">Exhibit No.</span></div>
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            <div style="text-align: left; font-size: 10pt;"><span style="text-decoration: underline;">Description</span></div>
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    <td style="width: 15%; vertical-align: top; font-family: 'Times New Roman';">&#160;</td>

    <td style="width: 85%; vertical-align: top; font-family: 'Times New Roman';">&#160;</td>

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            <div style="text-align: left; font-size: 10pt;">99.1</div>
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            <div style="text-align: left; font-size: 10pt;">Press Release dated February 24, 2021.</div>
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  </tr>

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    <td style="width: 15%; vertical-align: top; font-family: 'Times New Roman';">
            <div style="text-align: left; font-size: 10pt;">104</div>
          </td>

    <td style="width: 85%; vertical-align: top; font-family: 'Times New Roman';">
            <div style="text-align: left; font-size: 10pt;">Cover Page Interactive Data File (embedded within the Inline XBRL document)</div>
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    </div>

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      <div style="text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">- 2 -</span></div>

      <div style="page-break-after:always;">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" /></div>

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    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">SIGNATURE</div>

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    <div style="text-align: justify; text-indent: 54pt; font-family: 'Times New Roman'; font-size: 10pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, Genco Shipping &amp; Trading Limited has duly caused this report to be signed on
      its behalf by the undersigned hereunto duly authorized.</div>

    <div style="font-family: 'Times New Roman';">&#160;</div>

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    <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman';">&#160;</td>

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            <div style="text-align: left; font-size: 10pt;">GENCO SHIPPING &amp; TRADING LIMITED</div>
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    <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman';" rowspan="1">&#160;</td>

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    <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman';">&#160;</td>

    <td style="width: 5%; vertical-align: top; font-family: 'Times New Roman';">
            <div style="text-align: left; font-size: 10pt;">DATE:</div>
          </td>

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            <div style="text-align: left; font-size: 10pt;">February 24, 2021</div>
          </td>

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</table>
    <div style="font-family: 'Times New Roman';"><br />
    </div>

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    <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman';">&#160;</td>

    <td style="width: 45%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman';">
            <div style="text-align: left; font-size: 10pt;">/s/ Apostolos Zafolias</div>
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    <td style="width: 5%; vertical-align: top; font-family: 'Times New Roman';">&#160;</td>

  </tr>

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    <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman';">&#160;</td>

    <td style="width: 45%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman';">
            <div style="text-align: left; font-size: 10pt;">Apostolos Zafolias</div>
          </td>

    <td style="width: 5%; vertical-align: top; font-family: 'Times New Roman';">&#160;</td>

  </tr>

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    <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman';">&#160;</td>

    <td style="width: 45%; vertical-align: top; font-family: 'Times New Roman';">
            <div style="text-align: left; font-size: 10pt;">Chief Financial Officer</div>
          </td>

    <td style="width: 5%; vertical-align: top; font-family: 'Times New Roman';">&#160;</td>

  </tr>


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      <div style="text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;">- 3 -</span></div>

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    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">EXHIBIT INDEX</div>

    <div style="font-family: 'Times New Roman';">&#160;</div>

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    <td style="width: 15%; vertical-align: top; font-family: 'Times New Roman';">
            <div style="text-align: left; font-size: 10pt; font-weight: bold;">Exhibit No.</div>
          </td>

    <td style="width: 85%; vertical-align: top; font-family: 'Times New Roman';">
            <div style="text-align: left; font-size: 10pt; font-weight: bold;">Description</div>
          </td>

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    <td style="width: 15%; vertical-align: top; font-family: 'Times New Roman';">&#160;</td>

    <td style="width: 85%; vertical-align: top; font-family: 'Times New Roman';">&#160;</td>

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    <td style="width: 15%; vertical-align: top; font-family: 'Times New Roman';">
            <div style="text-align: left; font-size: 10pt;"><a href="brhc10020679_ex99-1.htm">99.1</a></div>
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    <td style="width: 85%; vertical-align: top; font-family: 'Times New Roman';">
            <div style="text-align: left; font-size: 10pt;">Press Release dated February 24, 2021.</div>
          </td>

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    <td style="width: 15%; vertical-align: top; font-family: 'Times New Roman';">
            <div style="text-align: left; font-size: 10pt;">104</div>
          </td>

    <td style="width: 85%; vertical-align: top; font-family: 'Times New Roman';">
            <div style="text-align: left; font-size: 10pt;">Cover Page Interactive Data File (embedded within the Inline XBRL document)</div>
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<DOCUMENT>
<TYPE>EX-99.1
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<FILENAME>brhc10020679_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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      <div style="text-align: right;"><font style="font-weight: bold; font-size: 10pt;">Exhibit 99.1</font><font style="font-size: 10pt;"><br>
        </font></div>
      <div style="font-size: 10pt;"><br>
      </div>
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    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">GENCO SHIPPING &amp; TRADING LIMITED ANNOUNCES</div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">FOURTH QUARTER FINANCIAL RESULTS</div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Completes Ultramax Acquisition and Divestiture Portion of Fleet Renewal Plan, Declares a Regular Quarterly Cash Dividend of $0.02 per Share</div>
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    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">New York, New York, February 24, 2021 &#8211; Genco Shipping &amp; Trading Limited (NYSE:GNK) (&#8220;Genco&#8221; or the &#8220;Company&#8221;), the largest U.S. headquartered<font style="font-family: 'Times New Roman'; color: rgb(255, 0, 0);">&#160;</font>drybulk shipowner focused on the transportation of major and minor bulk commodities globally, today reported its financial results for the three months and twelve months ended
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    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The following financial review discusses the results for the three and twelve months ended December 31, 2020 and December 31, 2019.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><u>Fourth Quarter 2020 and Year-to-Date Highlights</u></div>
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            <div style="font-family: 'Times New Roman';">We recorded a net loss of $65.9 million for the fourth quarter of 2020</div>
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          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">o</td>
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            <div style="font-family: 'Times New Roman';">Basic and diluted loss per share of $1.57</div>
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          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">o</td>
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            <div style="font-family: 'Times New Roman';">Adjusted net income of $9.3 million or basic and diluted earnings per share of $0.22, excluding $74.2 million in non-cash vessel impairment charges and a $1.0 million loss on sale of vessels</div>
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            <div style="font-family: 'Times New Roman';">Voyage revenues totaled $95.5 million and net revenue<font style="font-family: 'Times New Roman';"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup></font> (voyage revenues minus voyage expenses and charter hire expenses) totaled $57.3
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            <div style="font-family: 'Times New Roman';">Our average daily fleet-wide time charter equivalent, or TCE<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>, for Q4 2020 was $13,167</div>
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            <div style="font-family: 'Times New Roman';">For FY 2020, our fleet-wide TCE was $10,221, which outperformed <a name="z_Hlk64201029"></a>the relevant benchmark sub-indices as adjusted for our owned fleet profile by approximately $800 per
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            <div style="font-family: 'Times New Roman';">Recorded adjusted EBITDA of $29.7 million during Q4 2020<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup></div>
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            <div style="font-family: 'Times New Roman';">Genco announced a regular quarterly cash dividend of $0.02 per share for the fourth quarter of 2020</div>
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          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">o</td>
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            <div style="font-family: 'Times New Roman';">Payable on or about March 17, 2021 to all shareholders of record as of March 10, 2021</div>
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          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">o</td>
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            <div style="font-family: 'Times New Roman';">We have now declared cumulative dividends totaling $0.755 per share over the last six quarters</div>
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            <div style="font-family: 'Times New Roman';">Maintained a strong financial position with $179.7 million of cash, including $35.8 million of restricted cash, as of December 31, 2020</div>
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          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#8226;</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">Acquired three modern, fuel-efficient Ultramaxes in exchange for six non-core, older Handysize vessels (&#8220;Vessel Swap&#8221;)</div>
          </td>
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    <div style="font-size: 10pt;">&#160;</div>
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          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#8226;</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">In addition to the Vessel Swap, we have completed several vessel sales in Q4 2020 and Q1 2021 to date as part of our fleet renewal program</div>
          </td>
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    </table>
    <div style="font-size: 10pt;">&#160;</div>
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          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">o</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">During the fourth quarter of 2020 we delivered four vessels (the Genco Bay, Baltic Jaguar, Genco Loire and Genco Normandy) to their new owners.</div>
          </td>
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    <div style="font-size: 10pt;">&#160;</div>
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          <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">In the first quarter to date, we have delivered three additional vessels to their respective buyers:</div>
          </td>
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    <div style="font-size: 10pt;">&#160;</div>
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          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 8pt;">&#9632;</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">The Baltic Panther, a 2009-built Supramax, delivered to buyers on January 4, 2021</div>
          </td>
        </tr>

    </table>
    <div style="font-size: 10pt;">&#160;</div>
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          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 8pt;">&#9632;</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">The Baltic Hare, a 2009-built Handysize, delivered to buyers on January 15, 2021</div>
          </td>
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    </table>
    <div style="font-size: 10pt;">&#160;</div>
    <table cellspacing="0" cellpadding="0" id="zb24b8510f8cf4e59b2f2036712f237c6" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 8pt;">&#9632;</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">The Baltic Cougar, a 2009-built Supramax, delivered to buyers on February 24, 2021</div>
          </td>
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    </table>
    <div style="font-size: 10pt;">&#160;</div>
    <table cellspacing="0" cellpadding="0" id="z3ae82ecb586f4675a371ea6bffda8a2e" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#8226;</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">We have also agreed to sell our final two 2009-built 53,000 dwt Supramax vessels: the Baltic Leopard and the Genco Lorraine</div>
          </td>
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    </table>
    <div style="font-size: 10pt;">&#160;</div>
    <table cellspacing="0" cellpadding="0" id="zfe822c0a37f94266bf6c92cd65b7d27b" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">o</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">We expect to deliver these vessels to their respective buyers in 1H 2021<a name="z_Hlk15463438"></a></div>
          </td>
        </tr>

    </table>
    <div style="font-size: 10pt;">&#160;</div>
    <table cellspacing="0" cellpadding="0" id="zdec4fb5ea556439490e847e7a1b5c22d" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">o</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">These sales will complete the divestiture portion of our fleet renewal program</div>
          </td>
        </tr>

    </table>
    <div style="font-size: 10pt;">&#160;</div>
    <table cellspacing="0" cellpadding="0" id="zf26332fe82ea4068843644e72767f0c0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#8226;</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">We signed The Neptune Declaration on Seafarer Wellbeing and Crew Change to address the unprecedented crew change crisis caused by COVID-19</div>
          </td>
        </tr>

    </table>
    <div style="font-size: 10pt;">&#160;</div>
    <table cellspacing="0" cellpadding="0" id="zd8835277c9e94fbd800afdef3b66584e" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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          </td>
          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">o</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">In 2020, Genco completed over 100 crew rotations involving approximately 2,000 seafarers</div>
          </td>
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    </table>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">John C. Wobensmith, Chief Executive Officer, commented, &#8220;</font><font style="font-size: 10pt;">During a highly challenging operating environment in 2020, our strong in-house commercial platform continued to build on its track record of benchmark outperformance through active management while we took important steps
        to execute our strategic plan to effectively position Genco for the long-term. Importantly, we outperformed our internal benchmarks by approximately $800 per day resulting in incremental earnings of approximately $15 million for the full year and
        posted our highest quarterly TCE in two years during the fourth quarter. Notably, on the minor bulk fleet, this marks the third consecutive year of benchmark outperformance. As part of the significant progress we have made renewing our fleet, we
        completed the cash neutral acquisition of three modern, fuel-efficient Ultramax vessels during the fourth quarter, in exchange for six older, non-core Handysize vessels. With Genco maintaining the lowest leverage profile among our peer group and a
        solid cash position, we returned cash to shareholders, paying quarterly dividends even during the year&#8217;s earlier market lows. We have now declared our sixth consecutive quarterly dividend totaling $0.755 per share<font style="font-family: 'Times New Roman'; color: rgb(0, 0, 0);"> since initiating our dividend policy. Going forward, we view the drybulk market favorably given the record low orderbook as a percentage of the fleet, an anticipated rebound in global output as well as growth in
          drybulk trade volumes in both major and minor bulk commodities which fits our barbell strategy towards fleet composition well.&#160; Additionally, amid the ongoing COVID-19 pandemic, Genco continues to prioritize the health and safety of both our crew
          members and onshore team, and we thank global seafarers for their sacrifices and commitment to professionalism during a very challenging period.&#8221;</font></font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">2</font></div>
      <div id="DSPFPageBreak" style="page-break-after:always;">
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    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1 </sup><font style="font-family: 'Times New Roman';">We believe the non-GAAP measure presented provides investors with a means of better evaluating and
        understanding the Company&#8217;s operating performance. Please see Summary Consolidated Financial and Other Data below for a further reconciliation.</font></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2 </sup>TCE relative performance is benchmarked against the weighted average of the relevant sub-indices of the Baltic Dry Index as published by the Baltic
      Exchange (BPI, BSI 58 and BHSI) as well as the Platts Scrubber Fitted Capesize Index net of 5% for commissions, adjusted for our owned-fleet composition as well as the characteristics of our vessels. We benchmark our fully scrubber-fitted Capesize
      fleet of 17 vessels against the Platts Scrubber Fitted Capesize Index as we view this as a more relevant benchmark as compared to the Baltic Capesize Index which represents a non-scrubber fitted vessel.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><u>Genco&#8217;s active commercial operating platform and fleet deployment strategy</u></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"><a name="z_Hlk527117935"></a>Overall, our fleet deployment strategy remains weighted towards short-term fixtures, which provide us with optionality on our sizeable
      fleet. Our barbell approach towards fleet composition enables Genco to gain exposure to both the major and minor bulk commodities with a fleet whose cargoes carried align with global commodity trade flows. This approach continues to serve us well
      given the upside experienced in major bulk rates together with the continued improvement recently and relative stability of minor bulk rates. Our strong commercial platform complements our fleet composition and provides incremental value by
      outperforming the relevant benchmark sub-indices as adjusted for our owned fleet profile.</div>
    <div style="text-align: justify; font-size: 10pt;"><a name="z_Hlk4073782"></a><a name="z_Hlk532922612"></a><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Our fourth quarter of 2020 TCE results by class are listed below.</div>
    <div style="font-size: 10pt;"><br>
    </div>
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          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#8226;</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">Capesize: $17,460</div>
          </td>
        </tr>

    </table>
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        <tr>
          <td style="width: 18pt; font-size: 10pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#8226;</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">Ultramax and Supramax: $11,352</div>
          </td>
        </tr>

    </table>
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        <tr>
          <td style="width: 18pt; font-size: 10pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#8226;</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">Handysize: $8,822</div>
          </td>
        </tr>

    </table>
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        <tr>
          <td style="width: 18pt; font-size: 10pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#8226;</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">Fleet average: $13,167</div>
          </td>
        </tr>

    </table>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">During 2020, our active commercial platform outperformed our internal benchmarks by approximately $800 per day on a fleet-wide basis. Regarding our Capesize vessels, the
      firm drybulk market during Q3 2020 carried into Q4 2020, which saw Capesize rates reaching highs for the year in October. With our active commercial trading strategy geared towards spot market employment and prior positioning of our fleet to the
      Atlantic basin, we were able to capture this firm market. This is reflected in our strong Q4 2020 TCE results which led to Genco&#8217;s highest quarterly fleet-wide TCE in two years. During Q4 2020, the Pacific Capesize market traded at a premium relative
      to the broader market leading to an improved earnings environment for our Capesizes in the region. We utilized this strong Pacific market to continue trading in the region mostly through December with less ballasting to the Atlantic. At the start of
      2021, we have ballasted select Capesize vessels to the Atlantic basin and intend to ballast further tonnage during the quarter to redistribute our fleet positions to improve earnings over the remainder of the year.</div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Regarding our minor bulk fleet, 2020 marked the third consecutive year of benchmark outperformance led by active management of our fleet. Minor bulk rates in the second
      half of the year were led by the strong grain trade, particularly shipments from the U.S., coupled with augmented trade flows of commodities closely tied to global economic activity. For the minor bulk fleet in Q1 2021 to date, we have repositioned
      select vessels to key regions and we expect to have</div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"> <br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">3</font></div>
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">the majority of our minor bulk fleet open to be fixed from mid-March to mid-April to take advantage of the meaningful rate improvement we have seen in recent months.</div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Based on current fixtures to date, we estimate the following to be our TCE to date for the first quarter of 2021 on a load-to-discharge basis. Actual rates for the first
      quarter will vary based upon future fixtures.</div>
    <div style="font-size: 10pt;"><br>
    </div>
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        <tr>
          <td style="width: 18pt; font-size: 10pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#8226;</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">Capesize: $13,021 for 82% of the owned available Q1 2021 days</div>
          </td>
        </tr>

    </table>
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        <tr>
          <td style="width: 18pt; font-size: 10pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#8226;</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">Ultramax and Supramax: $11,102 for 72% of the owned available Q1 2021 days</div>
          </td>
        </tr>

    </table>
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        <tr>
          <td style="width: 18pt; font-size: 10pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#8226;</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">Handysize: $7,681 for 95% of the owned available Q1 2021 days</div>
          </td>
        </tr>

    </table>
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          <td style="width: 18pt; font-size: 10pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#8226;</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">Fleet average: $11,655 for 77% of the owned available Q1 2021 days</div>
          </td>
        </tr>

    </table>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><u>Fleet Update</u></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">In December 2020, the Company announced that it had entered into an agreement to
        acquire three modern, fuel-efficient Ultramax vessels in exchange for six older Handysize vessels</font><font style="font-size: 10pt;">. The transaction <font style="font-family: 'Times New Roman'; color: rgb(0, 0, 0);">is structured as an asset
          swap without monetary consideration or additional capital required. We have taken delivery of all three Ultramax vessels, namely the Genco Magic, the Genco Vigilant and the Genco Freedom. We have also delivered the six Handysize vessels,
          consisting of the Genco Ocean, Baltic Cove, Genco Spirit, Baltic Fox, Genco Mare and Genco Avra.</font></font></div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">The execution of this transaction accomplished a number of key objectives for Genco including the following:</div>
    <div style="font-size: 10pt;"><br>
    </div>
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          <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">&#8226;</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
            <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Continue to build scale in the core Ultramax sector and complement our in-house commercial platform while divesting non-core assets;</div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" id="ze4318ad53cb64048b7fc0b4c41543dbd" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 18pt; font-size: 10pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">&#8226;</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
            <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Reduce the average age of Genco&#8217;s fleet;</div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" id="z60777e4f86f642669affb7a0e82399db" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 18pt; font-size: 10pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">&#8226;</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
            <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Avoid drydocking and ballast water treatment system costs in 2021 of approximately $3.6 million relating to three of the Handysize vessels included in the transaction;</div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" id="zd30c82ccd9ef403d976b3860e3f00d8a" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 18pt; font-size: 10pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">&#8226;</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
            <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Preserve exposure to the upside of the Capesize sector</div>
          </td>
        </tr>

    </table>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">With the conclusion of the transactions, Genco has now fully exited the Handysize sector while creating a more focused fleet consisting of Capesize,
      Ultramax and Supramax vessels.</div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Separate from the Vessel Swap, we have continued to divest our older, less fuel-efficient tonnage as part of our efforts to modernize our fleet and create a more focused
      asset base while reducing our carbon footprint. Specifically, we delivered four vessels (the Genco Bay, Baltic Jaguar, Genco Loire and Genco Normandy) to their new owners during the fourth quarter of 2020. In Q1 2021 to date, we have delivered three
      additional vessels to their respective buyers (the Baltic Panther, Baltic Hare and Baltic Cougar).</div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">We have also agreed to sell our final two 53,000 dwt Supramax vessels, the Baltic Leopard and the Genco Lorraine for aggregate gross proceeds of $16.0 million. We expect
      to deliver these vessels to their new owners in the first half of 2021. Completion of these sales will conclude the vessel divestiture portion of our fleet renewal program. As a result of the Vessel Swap and the</div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"> <br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">4</font></div>
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">agreements to sell four vessels, the Company recorded a $7.0 million non-cash impairment charge for the fourth quarter and a $1.0 million loss on sale of vessels which
      delivered during the fourth quarter. Also, during the fourth quarter, the Company recorded a $67.2 million non-cash impairment charge related to nine Supramax vessels in its fleet, as the estimated future undiscounted cash flows for each of these
      vessels did not exceed their net book values. These vessels are not a part of our fleet renewal program and we do not intend to sell these vessels currently.</div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">As of December 31, 2020, $35.5 million of restricted cash is recorded on our balance sheet relating to the sale of four vessels which were sold in previous quarters, as
      well as an additional four vessels sold during the fourth quarter of 2020. Under the terms of our $495 million credit facility, the Company can either repay this amount, which represents the debt associated with these vessels, or utilize the 360-day
      reinvestment period to redeploy this capital towards the acquisition of a replacement vessel instead of repaying the loan, if the applicable terms and conditions under the facility are met.</div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><u>Regular Quarterly Cash Dividend Policy</u></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">For the fourth quarter of 2020, Genco declared a regular quarterly cash dividend of $0.02 per share. Management and the Board of Directors determined to pay a dividend
      in light of the Company&#8217;s strong balance sheet, its emphasis on returning cash to shareholders and the receipt of net proceeds from the sale of non-core assets. This dividend is payable on or about March 17, 2021, to all shareholders of record as of
      March 10, 2021.</div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Dividends going forward remain subject to the determination of our Board of Directors each quarter after its review of our financial performance and will depend upon
      various factors, including limitations under our credit agreements and applicable provisions of Marshall Islands law.<a name="z_Hlk1678876"></a></div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><u>Financial Review: 2020 Fourth Quarter</u></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The Company recorded a net loss for the fourth quarter of 2020 of $65.9 million, or $1.57 basic and diluted net loss per share. Comparatively, for the three months ended
      December 31, 2019, the Company recorded net income of $0.9 million, or $0.02 basic and diluted net earnings per share. Net income for the three months ended December 31, 2020, includes non-cash vessel impairment charges of $74.2 million as well as a
      loss on sale of vessels of $1.0 million. Net income for the three months ended December 31, 2019, includes non-cash vessel impairment charges of $1.3 million as well as a $0.8 million loss on sale of vessels.</div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The Company&#8217;s revenues decreased to $95.5 million for the three months ended December 31, 2020, as compared to $108.7 million recorded for the three months ended
      December 31, 2019, primarily due to the operation of fewer vessels in our fleet. The average daily time charter equivalent, or TCE, rates obtained by the Company&#8217;s fleet was $13,167 per day for the three months ended December 31, 2020 as compared to
      $12,619 per day for the three months ended December 31, 2019. During the fourth quarter of 2020, record steel production in China together with strong levels of iron ore imports drove Capesize spot earnings to the year&#8217;s peak in October</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">5</font></div>
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">while minor bulk earnings continued to recover led by a resurgence of U.S. grain shipments to China as well as increased trade of commodities linked to levels of global
      economic activity.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Voyage expenses<font style="font-family: 'Times New Roman'; color: rgb(255, 0, 0);">&#160;</font>were $33.4 million for the three months ended December 31, 2020 compared to
      $45.3 million during the prior year period primarily attributable to changes in bunker prices, as well as the operation of fewer vessels in our fleet.&#160; Vessel operating expenses decreased to $21.1 million for the three months ended December 31, 2020
      from $23.9 million for the three months ended December 31, 2019, primarily due to fewer owned vessels. General and administrative expenses decreased to $4.9 million for the fourth quarter of 2020 compared to $6.3 million for the fourth quarter of
      2019, primarily due to lower office rent and administrative expenses, as well as lower travel expenses and legal fees. Depreciation and amortization expenses decreased to $15.5 million for the three months ended December 31, 2020 from $18.3 million
      for the three months ended December 31, 2019, primarily due to a decrease in depreciation for certain vessels in our fleet that were impaired during 2020, as well as a decrease in depreciation for eight of the&#160; vessels sold during 2020.</div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Daily vessel operating expenses, or DVOE, amounted to $<font style="font-family: 'Times New Roman'; color: rgb(0, 0, 0);">4,726 </font>per vessel per day for the fourth
      quarter of 2020 compared to $4,640 per vessel per day for the fourth quarter of 2019. This increase is primarily attributable to higher crew related expenses, partially offset by lower drydocking, spare parts and stores related expenditures in the
      fourth quarter of 2020 as compared to the prior year period. We believe daily vessel operating expenses are best measured for comparative purposes over a 12&#8209;month period in order to take into account all of the expenses that each vessel in our fleet
      will incur over a full year of operation. Based on estimates provided by our technical managers, our DVOE budget for 2021 is $5,000 per vessel per day on a fleet-wide basis reflecting the larger weighting of our fleet towards Capesize vessels
      following the sales of smaller Supramax and Handysize vessels as well as an anticipated increase in COVID-19 related expenses. The potential impacts of COVID-19 are beyond our control and are difficult to predict due to uncertainties surrounding the
      pandemic.</div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"><a name="z_Hlk15463447"></a>Apostolos Zafolias, Chief Financial Officer, commented, &#8220;Amid the global pandemic, we have maintained our financial strength and flexibility,
      while returning capital to shareholders, underscoring our industry leadership. During the fourth quarter, we continued to improve our industry leading balance sheet through operating cash flow generation and opportunistic vessel sales of non-core
      assets. We also continued executing our fleet renewal through an exchange transaction which allowed us to purchase three modern Ultramaxes. During the quarter, we increased our cash position to $180 million, including $35.8 million of restricted
      cash, as of December 31, 2020. We also declared our sixth consecutive quarterly dividend.&#8221;</div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><u>Financial Review: Twelve Months 2020</u></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The Company recorded a net loss of $225.6 million or $5.38 basic and diluted net loss per share for the twelve months ended December 31, 2020. This compares to a net
      loss of $56.0 million or $1.34 basic and diluted net loss per share for the twelve months ended December 31, 2019. Net loss for the twelve months ended December 31, 2020 includes $208.9 million in non-cash vessel impairment charges and a $1.9 million
      loss on sale of vessels. Net loss for the twelve months ended December 31, 2019, includes non-cash vessel impairment charges of $27.4 million, a $0.2 million non-cash impairment of the operating lease right-of-use asset, as well as a loss on sale of
      vessels</div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"> <br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">6</font></div>
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">totaling $0.2 million. Revenues decreased to $355.6 million for the twelve months ended December 31, 2020 compared to $389.5 million for the twelve months ended December
      31, 2019, primarily due to the operation of fewer vessels. Voyage expenses decreased to $157.0 million for the twelve months ended December 31, 2020 from $173.0 million for the same period in 2019. TCE rates obtained by the Company decreased to
      $10,221 per day for the twelve months ended December 31, 2020 from $10,182 per day for the twelve months ended December 31, 2019. Total operating expenses for the twelve months ended December 31, 2020 and 2019 were $558.9 million and $417.9 million,
      respectively. Total operating expenses include $208.9 million in non-cash vessel impairment charges, as well as a loss on sale of vessels of $1.9 million for the twelve months ending December 31, 2020. For the twelve months ended December 31, 2019,
      total operating expenses include $27.4 million in non-cash vessel impairment charges as well as a loss on the sale of vessels of $0.2 million. General and administrative expenses for the twelve months ended December 31, 2020 decreased to $21.3
      million as compared to the $24.5 million in the same period of 2019, due to a decrease in office rent and administrative expenses, as well as lower travel expenses and legal and professional fees. DVOE was $4,612 for the year to date period in 2020
      versus $4,576 in 2019. The increase in DVOE was predominantly due to higher crew related expenses, partially offset by lower drydocking related expenses. EBITDA for the twelve months ended December 31, 2020 amounted to $(139.0) million compared to
      $44.7 million during the prior period. During the twelve months of 2020 and 2019, EBITDA included non-cash impairment charges, an operating lease right-of-use asset non-cash impairment and gains and losses on sale of vessels as mentioned above.
      Excluding these items, our adjusted EBITDA would have amounted to $71.8 million and $72.5 million, for the respective periods.</div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><u>Liquidity and Capital Resources</u></div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><u>Cash Flow</u></div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Net cash provided by operating activities for the years ended December 31, 2020 and 2019 was $36.9 million and $59.5 million, respectively. This decrease in cash
      provided by operating activities was primarily due to changes in working capital, offset by a decrease in drydocking related expenditures.</div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Net cash provided by investing activities during the year ended December 31, 2020 was $37.4 million as compared to $22.8 million net cash used in investing activities
      during the year ended December 31, 2019.&#160; This fluctuation was primarily due to an increase in net proceeds from the sale of vessels in 2020 as compared to 2019, as well as a decrease in scrubber and ballast water treatment system related
      expenditures.</div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Net cash used in financing activities during the years ended December 31, 2020 and 2019 was $56.9 million and $77.2 million, respectively.&#160; The decrease was primarily
      due to the $24.0 million drawdown on the $133 Million Credit Facility during 2020 and an $11.0 million decrease in the payment of dividends during 2020 as compared to 2019.&#160;&#160; These decreases were partially offset by a $10.3 million decrease in
      drawdowns under the $495 Million Credit Facility, as well as a $2.8 million and a $1.9 million increase in repayments under the $133 Million Credit Facility and $495 Million Credit Facility, respectively, during 2020 as compared to 2019.</div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">7</font></div>
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><u>Capital Expenditures</u></div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">We make capital expenditures from time to time in connection with vessel acquisitions. As of February 24, 2021, Genco Shipping &amp; Trading Limited&#8217;s fleet consists of
      17 Capesize, nine Ultramax and 15 Supramax vessels with an aggregate capacity of approximately 4,421,000 dwt and an average age of 10.2 years.</div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">In addition to acquisitions that we may undertake, we will incur additional capital expenditures due to special surveys and drydockings. We estimate our capital
      expenditures related to drydocking, including capitalized costs incurred during drydocking related to vessel assets and vessel equipment, ballast water treatment system costs and scheduled off-hire days for our fleet for 2021 to be:</div>
    <div style="font-size: 10pt;"><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" align="center" style="width: 90%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;" id="z7b82a251015f48a987b790af1620743a">

        <tr>
          <td valign="bottom" style="vertical-align: top; font-size: 10pt; width: 48.71%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; width: 1.17%; padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.45%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-weight: bold; text-align: center;">Q1 2021</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: center; vertical-align: bottom; width: 1.17%; padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; width: 1.17%; padding-bottom: 2px; text-align: center;" colspan="1">&#160;</td>
          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.45%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-weight: bold; text-align: center;">Q2 2021</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: center; vertical-align: bottom; width: 1.17%; padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; width: 1.17%; padding-bottom: 2px; text-align: center;" colspan="1">&#160;</td>
          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.45%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-weight: bold; text-align: center;">Q3 2021</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: center; vertical-align: bottom; width: 1.17%; padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; width: 1.17%; padding-bottom: 2px; text-align: center;" colspan="1">&#160;</td>
          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.45%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-weight: bold; text-align: center;">Q4 2021</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.17%; padding-bottom: 2px;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; font-size: 10pt; width: 48.71%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Estimated Drydock Costs <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
          </td>
          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; width: 1.17%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: &#38;quot;">$0.9 million</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.17%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; width: 1.17%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: &#38;quot;">$2.9 million</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.17%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; width: 1.17%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: &#38;quot;">$1.7 million</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.17%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; width: 1.17%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: &#38;quot;">$2.2 million</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.17%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; font-size: 10pt; width: 48.71%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Estimated BWTS Costs<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> (2)</sup></div>
          </td>
          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; width: 1.17%;" colspan="1">&#160;</td>
          <td style="font-size: 10pt; vertical-align: bottom; text-align: center; width: 10.45%;" colspan="1">
            <div style="color: rgb(0, 0, 0);">-</div>
          </td>
          <td nowrap="nowrap" style="font-size: 10pt; text-align: center; vertical-align: bottom; width: 1.17%;" colspan="1">&#160;</td>
          <td style="font-size: 10pt; vertical-align: bottom; width: 1.17%; text-align: center;" colspan="1">&#160;</td>
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            <div style="color: rgb(0, 0, 0);">$1.3 million</div>
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          <td nowrap="nowrap" style="font-size: 10pt; text-align: center; vertical-align: bottom; width: 1.17%;" colspan="1">&#160;</td>
          <td style="font-size: 10pt; vertical-align: bottom; width: 1.17%; text-align: center;" colspan="1">&#160;</td>
          <td style="vertical-align: bottom; font-size: 10pt; text-align: center;">
            <div style="color: rgb(0, 0, 0);">$0.9 million</div>
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          <td nowrap="nowrap" style="font-size: 10pt; text-align: center; vertical-align: bottom; width: 1.17%;" colspan="1">&#160;</td>
          <td style="font-size: 10pt; vertical-align: bottom; width: 1.17%; text-align: center;" colspan="1">&#160;</td>
          <td style="vertical-align: bottom; font-size: 10pt; text-align: center;">
            <div style="color: rgb(0, 0, 0);">$1.8 million</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.17%;" colspan="1">&#160;</td>
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          <td valign="bottom" style="vertical-align: top; font-size: 10pt; width: 48.71%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Estimated Offhire Days <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup></div>
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          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; width: 1.17%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td style="font-size: 10pt; vertical-align: bottom; text-align: center; width: 10.45%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="color: rgb(0, 0, 0);">20</div>
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          <td nowrap="nowrap" style="font-size: 10pt; text-align: center; vertical-align: bottom; width: 1.17%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td style="font-size: 10pt; vertical-align: bottom; width: 1.17%; background-color: rgb(204, 238, 255); text-align: center;" colspan="1">&#160;</td>
          <td style="font-size: 10pt; vertical-align: bottom; text-align: center; width: 10.45%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="color: rgb(0, 0, 0);">65</div>
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          <td nowrap="nowrap" style="font-size: 10pt; text-align: center; vertical-align: bottom; width: 1.17%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td style="font-size: 10pt; vertical-align: bottom; width: 1.17%; background-color: rgb(204, 238, 255); text-align: center;" colspan="1">&#160;</td>
          <td style="font-size: 10pt; vertical-align: bottom; text-align: center; width: 10.45%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="color: rgb(0, 0, 0);">40</div>
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          <td nowrap="nowrap" style="font-size: 10pt; text-align: center; vertical-align: bottom; width: 1.17%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td style="font-size: 10pt; vertical-align: bottom; width: 1.17%; background-color: rgb(204, 238, 255); text-align: center;" colspan="1">&#160;</td>
          <td style="font-size: 10pt; vertical-align: bottom; text-align: center; width: 10.45%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="color: rgb(0, 0, 0);">45</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.17%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
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    </table>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"> <br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">(1) Estimates are based on our budgeted cost of drydocking our vessels in China. Actual costs will vary based on various factors, including where the drydockings are
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    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">(2) Estimated costs associated with the installation of ballast water treatment systems is expected to be funded with cash on hand.</div>
    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">(3) Actual length will vary based on the condition of the vessel, yard schedules and other factors.</div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">8</font></div>
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><u>Summary Consolidated Financial and Other Data</u></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The following table summarizes Genco Shipping &amp; Trading Limited&#8217;s selected consolidated financial and other data for the periods indicated below.</div>
    <div style="font-size: 10pt;"><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 100%;" id="z50f500a91a1e4e8d8cd59aaf799a2b9e">

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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; padding-bottom: 2px; width: 34%;">&#160;</td>
          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; padding-bottom: 2px; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: middle; font-size: 10pt; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" colspan="2">
            <div style="text-align: center; font-family: &#38;quot; font-weight: bold;">Three Months Ended </div>
            <div style="text-align: center; font-family: &#38;quot; font-weight: bold;">December 31, 2020</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: middle; font-size: 10pt; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
            <div style="text-align: center; font-family: &#38;quot; font-weight: bold;">Three Months Ended </div>
            <div style="text-align: center; font-family: &#38;quot; font-weight: bold;">December 31, 2019</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; padding-bottom: 2px; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: middle; font-size: 10pt; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
            <div style="text-align: center; font-family: &#38;quot; font-weight: bold;">Twelve Months Ended </div>
            <div style="text-align: center; font-family: &#38;quot; font-weight: bold;">December 31, 2020</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: middle; font-size: 10pt; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
            <div style="text-align: center; font-family: &#38;quot; font-weight: bold;">Twelve Months Ended </div>
            <div style="text-align: center; font-family: &#38;quot; font-weight: bold;">December 31, 2019</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; padding-bottom: 2px; width: 34%;" colspan="1">&#160;&#160;</td>
          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; padding-bottom: 2px; width: 1%;" colspan="1">&#160;&#160;</td>
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            <div style="text-align: center; font-family: &#38;quot;">(Dollars in thousands, except share and per share data)</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;&#160;</td>
          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; padding-bottom: 2px; width: 1%;" colspan="1">&#160;&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; font-size: 10pt; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="6">
            <div style="text-align: center; font-family: &#38;quot;">(Dollars in thousands, except share and per share data)</div>
            <div style="text-align: center; font-family: &#38;quot;">(unaudited)</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot; font-weight: bold;">INCOME STATEMENT DATA:</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; border-left: 2px solid rgb(0, 0, 0);" colspan="2">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt;" colspan="2">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; border-left: 2px solid rgb(0, 0, 0);" colspan="2">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt;" colspan="2">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Revenues:</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; border-left: 2px solid rgb(0, 0, 0);" colspan="2">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt;" colspan="2">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; border-left: 2px solid rgb(0, 0, 0);" colspan="2">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt;" colspan="2">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Voyage revenues</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">95,495</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">108,705</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">355,560</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">389,496</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%; padding-bottom: 2px;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 25.2pt;">Total revenues</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">95,495</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">108,705</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">355,560</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">389,496</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
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        <tr>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
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        <tr>
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            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Operating expenses:</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Voyage expenses</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">33,435</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">45,254</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">156,985</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">173,043</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Vessel operating expenses</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%;" colspan="1">
            <div style="font-family: &#38;quot;">21,088</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%;" colspan="1">
            <div style="font-family: &#38;quot;">23,949</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">87,420</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">96,209</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Charter hire expenses</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">4,780</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">3,436</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">10,307</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">16,179</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
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        <tr>
          <td valign="bottom" style="vertical-align: bottom; font-size: 10pt; width: 34%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">General and administrative expenses (inclusive of nonvested stock amortization expense of $0.5<font style="font-family: &#38;quot; color: rgb(255, 0, 0);">&#160;</font>million,
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 13%;" colspan="1">
            <div style="font-family: &#38;quot; font-size: 10pt;">4,912</div>
            <div><font style="font-size: 10pt; font-family: &#38;quot;"></font><font style="font-size: 10pt;"></font></div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 13%;" colspan="1">
            <div style="font-family: &#38;quot; font-size: 10pt;">6,263</div>
            <div><font style="font-size: 10pt; font-family: &#38;quot;"></font><font style="font-size: 10pt;"></font></div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot; font-size: 10pt;">21,266</div>
            <div><font style="font-size: 10pt; font-family: &#38;quot;"></font><font style="font-size: 10pt;"></font></div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot; font-size: 10pt;">24,516</div>
            <div><font style="font-size: 10pt; font-family: &#38;quot;"></font><font style="font-size: 10pt;"></font></div>
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          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Technical management fees</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">1,645</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">1,857</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">6,961</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">7,567</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Depreciation and amortization</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%;" colspan="1">
            <div style="font-family: &#38;quot;">15,549</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%;" colspan="1">
            <div style="font-family: &#38;quot;">18,292</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">65,168</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">72,824</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Impairment of vessel assets</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">74,225</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">1,315</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">208,935</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">27,393</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%; padding-bottom: 2px;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Loss on sale of vessels</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">1,012</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">779</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">1,855</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">168</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 25.2pt;">Total operating expenses</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">156,646</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">101,145</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">558,897</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">417,899</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Operating (loss) income</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">(61,151</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">7,560</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">(203,337</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">(28,403</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Other (expense) income:</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Other income (expense)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%;" colspan="1">
            <div style="font-family: &#38;quot;">49</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%;" colspan="1">
            <div style="font-family: &#38;quot;">(22</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">(851</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">501</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Interest income</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">79</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">803</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">1,028</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">4,095</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Interest expense</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%;" colspan="1">
            <div style="font-family: &#38;quot;">(4,898</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%;" colspan="1">
            <div style="font-family: &#38;quot;">(7,459</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">(22,413</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">(31,955</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Impairment of right-of-use asset</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">(223</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%; padding-bottom: 2px;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 25.2pt;">Other expense</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">(4,770</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">(6,678</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">(22,236</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">(27,582</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%; padding-bottom: 4px;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Net (loss) income</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">(65,921</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">882</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">(225,573</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">(55,985</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%; padding-bottom: 4px;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Net (loss) earnings per share - basic</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">(1.57</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">0.02</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">(5.38</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">(1.34</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%; padding-bottom: 4px;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Net (loss) earnings per share - diluted</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">(1.57</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">0.02</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">(5.38</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">(1.34</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%; padding-bottom: 4px;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Weighted average common shares outstanding - basic</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">41,933,926</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">41,832,942</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">41,907,597</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">41,762,893</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%; padding-bottom: 4px;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Weighted average common shares outstanding - diluted</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">41,933,926</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">41,989,553</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">41,907,597</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">41,762,893</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" rowspan="1">&#160;</td>
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    <div style="font-size: 10pt;"><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">9</font></div>
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 100%;" id="zd344bdaacc3441289e9a5c9f14f8b75e">

        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; padding-bottom: 2px; width: 72%;">&#160;</td>
          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: middle; font-size: 10pt; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
            <div style="text-align: center; font-family: &#38;quot; font-weight: bold;">December 31, 2020</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: middle; font-size: 10pt; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" rowspan="1" colspan="2">
            <div style="text-align: center; font-family: &#38;quot; font-weight: bold;">December 31, 2019</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot; font-weight: bold;">BALANCE SHEET DATA (Dollars in thousands):</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt;" colspan="2">
            <div style="text-align: center; font-family: &#38;quot;"> (unaudited)</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt;" colspan="2">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt;" colspan="2">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt;" colspan="2">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot; font-weight: bold;"><u>Assets</u></div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt;" colspan="2">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt;" colspan="2">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Current assets:</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt;" colspan="2">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt;" colspan="2">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255); width: 72%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 25.2pt;">Cash and cash equivalents</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1.11%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; background-color: rgb(204, 238, 255); width: 11%;" colspan="1">
            <div style="font-family: &#38;quot;">143,872</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1.11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1.11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; background-color: rgb(204, 238, 255); width: 11%;" colspan="1">
            <div style="font-family: &#38;quot;">155,889</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1.11%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 25.2pt;">Restricted cash</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%;" colspan="1">
            <div style="font-family: &#38;quot;">35,492</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%;" colspan="1">
            <div style="font-family: &#38;quot;">6,045</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255); width: 72%;">
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1.11%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; background-color: rgb(204, 238, 255); width: 11%;" colspan="1">
            <div style="font-family: &#38;quot;">12,991</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1.11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1.11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; background-color: rgb(204, 238, 255); width: 11%;" colspan="1">
            <div style="font-family: &#38;quot;">13,701</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1.11%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%;" colspan="1">
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%;" colspan="1">
            <div style="font-family: &#38;quot;">10,856</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%;" colspan="1">
            <div style="font-family: &#38;quot;">10,049</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 25.2pt;">Inventories</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">21,583</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">27,208</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%; padding-bottom: 2px;" colspan="1">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 25.2pt;">Vessels held for sale</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">22,408</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">10,303</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Total current assets</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">247,202</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">223,195</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%;" colspan="1"><br>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Noncurrent assets:</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; background-color: rgb(204, 238, 255);" colspan="1"><br>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 72%;" colspan="1">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 25.2pt; font-family: 'Times New Roman'; font-size: 12pt;"><font style="font-size: 10pt; font-family: &#38;quot; color: rgb(0, 0, 0);">Vessels, net of accumulated depreciation of
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%;" colspan="1">
            <div style="font-family: &#38;quot;">919,114</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%;" colspan="1">
            <div style="font-family: &#38;quot;">1,273,861</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 25.2pt;">Vessels held for exchange</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">38,214</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%;" colspan="1">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 25.2pt;">Deferred drydock, net</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%;" colspan="1">
            <div style="font-family: &#38;quot;">14,689</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%;" colspan="1">
            <div style="font-family: &#38;quot;">17,304</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 25.2pt;">Fixed assets, net</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">6,393</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">5,976</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%;" colspan="1">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 25.2pt;">Operating lease right-of-use assets</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%;" colspan="1">
            <div style="font-family: &#38;quot;">6,882</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%;" colspan="1">
            <div style="font-family: &#38;quot;">8,241</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" colspan="1">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 25.2pt;">Restricted cash</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">315</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">315</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%; padding-bottom: 2px;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Total noncurrent assets</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">985,607</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">1,305,697</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%; padding-bottom: 4px;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Total assets</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">1,232,809</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; padding-bottom: 4px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">1,528,892</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; background-color: rgb(204, 238, 255);" colspan="1"><br>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; background-color: rgb(204, 238, 255);" colspan="1"><br>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot; font-weight: bold;"><u>Liabilities and Equity</u></div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%;" colspan="1"><br>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%;" colspan="1"><br>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Current liabilities:</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; background-color: rgb(204, 238, 255);" colspan="1"><br>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; background-color: rgb(204, 238, 255);" colspan="1"><br>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%;" colspan="1">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 25.2pt;">Accounts payable and accrued expenses</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">$<br>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%;" colspan="1">
            <div style="font-family: &#38;quot;">22,793</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">$<br>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%;" colspan="1">
            <div style="font-family: &#38;quot;">49,604</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 25.2pt;">Current portion of long-term debt</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">80,642</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">69,747</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%;" colspan="1">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 25.2pt;">Deferred revenue</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%;" colspan="1">
            <div style="font-family: &#38;quot;">8,421</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%;" colspan="1">
            <div style="font-family: &#38;quot;">6,627</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" colspan="1">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 25.2pt;">Current operating lease liabilities</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">1,765</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">1,677</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%; padding-bottom: 2px;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Total current liabilities</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">113,621</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">127,655</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; background-color: rgb(204, 238, 255);" colspan="1"><br>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Noncurrent liabilities</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%;" colspan="1"><br>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 25.2pt;">Long-term operating lease liabilities</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">8,061</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">9,826</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%;" colspan="1">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 25.2pt;">Contract liability</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%;" colspan="1">
            <div style="font-family: &#38;quot;">7,200</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%;" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" colspan="1">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 25.2pt; color: rgb(0, 0, 0);">Long-term debt, net of deferred financing costs of $9,653 and $13,094, respectively</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">358,933</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">412,983</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%; padding-bottom: 2px;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Total noncurrent liabilities</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">374,194</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">422,809</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%; padding-bottom: 2px;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Total liabilities</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">487,815</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">550,464</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; background-color: rgb(204, 238, 255);" colspan="1"><br>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; background-color: rgb(204, 238, 255);" colspan="1"><br>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Commitments and contingencies</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%;" colspan="1"><br>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%;" colspan="1"><br>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; background-color: rgb(204, 238, 255);" colspan="1"><br>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; background-color: rgb(204, 238, 255);" colspan="1"><br>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Equity:</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%;" colspan="1"><br>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%;" colspan="1"><br>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 25.2pt;">Common stock</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">418</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">417</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%;" colspan="1">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 25.2pt;">Additional paid-in capital</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%;" colspan="1">
            <div style="font-family: &#38;quot;">1,713,406</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%;" colspan="1">
            <div style="font-family: &#38;quot;">1,721,268</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" colspan="1">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 25.2pt;">Accumulated deficit</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">(968,830</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">)<br>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">(743,257</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">)
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          </td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%; padding-bottom: 2px;" colspan="1">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 25.2pt;">Total equity</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">744,994</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">978,428</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%; background-color: rgb(204, 238, 255); padding-bottom: 4px;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Total liabilities and equity</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">1,232,809</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); padding-bottom: 4px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">1,528,892</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 72%; padding-bottom: 2px;" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1.11%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 11%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.11%; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
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    <div style="font-size: 10pt;"><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">10</font></div>
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; padding-bottom: 2px; width: 66%;">&#160;</td>
          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: middle; font-size: 10pt; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
            <div style="text-align: center; font-family: &#38;quot; font-weight: bold;">Twelve Months Ended </div>
            <div style="text-align: center; font-family: &#38;quot; font-weight: bold;">December 31, 2020</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: middle; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);" colspan="2">
            <div style="text-align: center; font-family: &#38;quot; font-weight: bold;">Twelve Months Ended </div>
            <div style="text-align: center; font-family: &#38;quot; font-weight: bold;">December 31, 2019</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot; font-weight: bold;">STATEMENT OF CASH FLOWS (Dollars in thousands):</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt;" colspan="2">
            <div style="text-align: center; font-family: &#38;quot;"> (unaudited)</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt;" colspan="2">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt;" colspan="2">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt;" colspan="2">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot; font-weight: bold;">Cash flows from operating activities</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt;" colspan="2">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt;" colspan="2">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Net loss</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">(225,573</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">(55,985</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Adjustments to reconcile net loss to net cash provided by operating activities:</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Depreciation and amortization</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">65,168</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">72,824</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Amortization of deferred financing costs</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">3,903</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">3,788</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Right-of-use asset amortization</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">1,359</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%;">
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">2,026</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">2,057</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Impairment of right-of-use asset</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">223</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Impairment of vessel assets</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">208,935</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">27,393</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Loss on sale of vessels</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">1,855</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">168</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Insurance proceeds for protection and indemnity claims</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">569</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">494</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Insurance proceeds for loss of hire claims</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">78</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Change in assets and liabilities:</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 25.2pt;">Decrease in due from charterers</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">710</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">8,605</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 25.2pt;">Increase in prepaid expenses and other current assets</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">(1,938</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">(789</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 25.2pt;">Decrease in inventories</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">5,625</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">2,340</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 25.2pt;">(Decrease) increase in accounts payable and accrued expenses</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">(17,355</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">13,172</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 25.2pt;">Increase in deferred revenue</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">1,794</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">223</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 25.2pt;">Decrease in operating lease liabilities</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">(1,677</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">(1,592</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 25.2pt;">Deferred drydock costs incurred</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">(8,583</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">(14,641</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
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        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%; padding-bottom: 2px;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Net cash provided by operating activities</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">36,896</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">59,526</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot; font-weight: bold;">Cash flows from investing activities</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Purchase of vessels and ballast water treatment systems, including deposits</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">(4,485</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">(13,960</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Purchase of scrubbers (capitalized in Vessels)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">(10,973</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">(31,750</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Purchase of other fixed assets</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">(4,580</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">(4,714</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Net proceeds from sale of vessels</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">56,993</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">26,963</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Insurance proceeds for hull and machinery claims</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">484</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">612</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%; padding-bottom: 2px;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Net cash provided by (used in) investing activities</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">37,439</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">(22,849</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot; font-weight: bold;">Cash flows from financing activities</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Proceeds from the $133 Million Credit Facility</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">24,000</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Repayments on the $133 Million Credit Facility</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">(9,160</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">(6,320</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
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        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Proceeds from the $495 Million Credit Facility</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">11,250</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">21,500</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Repayments on the $495 Million Credit Facility</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">(72,686</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">(70,776</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Payment of common stock issuance costs</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">(105</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Cash dividends paid</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">(9,847</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">(20,877</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Payment of deferred financing costs</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">(462</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">(611</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%; padding-bottom: 2px;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 16.2pt;">Net cash used in financing activities</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">(56,905</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">(77,189</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Net increase (decrease) in cash, cash equivalents and restricted cash</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">17,430</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">(40,512</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%; padding-bottom: 2px;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Cash, cash equivalents and restricted cash at beginning of period</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">162,249</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">202,761</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Cash, cash equivalents and restricted cash at end of period</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">179,679</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">162,249</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 66%; padding-bottom: 2px;" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
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    <div style="font-size: 10pt;"><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">11</font></div>
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        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; padding-bottom: 2px; width: 44%;">&#160;</td>
          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
          <td style="border-bottom: 2px solid #000000; border-top: 2px solid #000000; vertical-align: middle; white-space: nowrap; font-size: 10pt;" colspan="2">
            <div style="text-align: center; font-family: &#38;quot; font-weight: bold;">Three Months Ended </div>
            <div style="text-align: center; font-family: &#38;quot; font-weight: bold;">December 31, 2020</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; padding-bottom: 2px; width: 44%;">
            <div style="text-align: left; font-family: &#38;quot; font-weight: bold;">Adjusted Net Income Reconciliation</div>
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          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: middle; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
            <div style="text-align: center; font-family: &#38;quot;">(unaudited)</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 44%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Net loss</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">(65,921</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 44%;">
            <div style="text-align: left; margin-left: 9pt;">+ Impairment of vessel assets</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%;" colspan="1">
            <div style="font-family: &#38;quot;">74,225</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 44%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">
            <div style="text-align: left; margin-left: 9pt;">+ Loss on sale of vessels</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">1,012</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 44%; padding-bottom: 4px;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 25.2pt; font-weight: bold;">Adjusted net income</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">9,316</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 44%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 44%; padding-bottom: 4px;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 25.2pt;">Adjusted net earnings per share - basic</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">0.22</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 44%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 25.2pt;">Adjusted net earnings per share - diluted</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">0.22</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 44%;">
            <div style="margin-left: 18pt;">&#160;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 44%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 25.2pt;">Weighted average common shares outstanding - basic</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">41,933,926</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 44%; padding-bottom: 4px;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 25.2pt;">Weighted average common shares outstanding - diluted</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">41,933,926</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 44%; background-color: rgb(204, 238, 255);">
            <div style="margin-left: 18pt;">&#160;</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; font-size: 10pt; width: 44%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 25.2pt;">Weighted average common shares outstanding - basic as per financial statements</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%;" colspan="1">
            <div style="font-family: &#38;quot;">41,933,926</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 44%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 25.2pt;">Dilutive effect of stock options</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 44%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 25.2pt;">Dilutive effect of restricted stock awards</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%;" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 44%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 25.2pt;">Weighted average common shares outstanding - diluted as adjusted</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">41,933,926</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 44%; padding-bottom: 2px;" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
        </tr>

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    <div style="font-size: 10pt;"><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 100%;" id="za60ecf9bfe4c437abeb9fb118bec1084">

        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; padding-bottom: 2px; width: 34%;">&#160;</td>
          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: middle; font-size: 10pt; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
            <div style="text-align: center; font-family: &#38;quot; font-weight: bold;">Three Months Ended December 31, 2020</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: middle; font-size: 10pt; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
            <div style="text-align: center; font-family: &#38;quot; font-weight: bold;">Three Months Ended December 31, 2019</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; padding-bottom: 2px; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: middle; font-size: 10pt; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" colspan="2">
            <div style="text-align: center; font-family: &#38;quot; font-weight: bold;">Twelve Months Ended December 31, 2020</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: middle; font-size: 10pt; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
            <div style="text-align: center; font-family: &#38;quot; font-weight: bold;">Twelve Months Ended December 31, 2019</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; padding-bottom: 2px; width: 34%;">
            <div style="text-align: left; font-family: &#38;quot; font-weight: bold;">EBITDA Reconciliation:</div>
          </td>
          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: middle; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);" colspan="6">
            <div style="text-align: center; font-family: &#38;quot;">
              <div style="text-align: center; font-family: &#38;quot;">(Dollars in thousands)</div>
              (unaudited)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; padding-bottom: 2px; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" colspan="6">
            <div style="text-align: center; font-family: &#38;quot;">
              <div style="text-align: center; font-family: &#38;quot;">(Dollars in thousands)</div>
              (unaudited)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; font-weight: bold; margin-left: 9pt;">Net (loss) income</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">(65,921</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">882</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">(225,573</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">(55,985</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%;">
            <div style="text-align: left; margin-left: 9pt;">+ Net interest expense</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%;" colspan="1">
            <div style="font-family: &#38;quot;">4,819</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%;" colspan="1">
            <div style="font-family: &#38;quot;">6,656</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">21,385</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">27,860</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">
            <div style="text-align: left; margin-left: 9pt;">+ Depreciation and amortization</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">15,549</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">18,292</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">65,168</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">72,824</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%; padding-bottom: 4px;">
            <div style="text-align: left; font-weight: bold; margin-left: 18pt;">EBITDA<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">(45,553</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">25,830</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">(139,020</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">44,699</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%;">
            <div style="text-align: left; margin-left: 9pt;">+ Impairment of vessel assets</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%;" colspan="1">
            <div style="font-family: &#38;quot;">74,225</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%;" colspan="1">
            <div style="font-family: &#38;quot;">1,315</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">208,935</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">27,393</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; margin-left: 9pt;">+ Impairment of right-of-use asset</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">223</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%; padding-bottom: 2px;">
            <div style="text-align: left; margin-left: 9pt;">+ Loss on sale of vessels</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">1,012</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">779</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">1,855</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">168</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; font-weight: bold; margin-left: 18pt;">Adjusted EBITDA</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">29,684</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">27,924</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">71,770</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">72,483</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%; padding-bottom: 2px;" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
        </tr>

    </table>
    <div style="font-size: 10pt;"><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;" id="z7288b0c572c14d558afaa67683f2b56f">

        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%;">&#160;</td>
          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: middle; font-size: 10pt; border-top: 2px solid rgb(0, 0, 0);" colspan="6">
            <div style="text-align: center; font-family: &#38;quot; font-weight: bold;">Three Months Ended</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: middle; font-size: 10pt; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" colspan="6">
            <div style="text-align: center; font-family: &#38;quot; font-weight: bold;">Twelve Months Ended</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; padding-bottom: 2px; width: 34%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
            <div style="text-align: center; font-family: &#38;quot; font-weight: bold;">December 31, 2020</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
            <div style="text-align: center; font-family: &#38;quot; font-weight: bold;">December 31, 2019</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; padding-bottom: 2px; border-left: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" colspan="2">
            <div style="text-align: center; font-family: &#38;quot; font-weight: bold;">December 31, 2020</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
            <div style="text-align: center; font-family: &#38;quot; font-weight: bold;">December 31, 2019</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot; font-weight: bold;">FLEET DATA:</div>
          </td>
          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: middle; font-size: 10pt;" colspan="6">
            <div style="text-align: center; font-family: &#38;quot;">(unaudited)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; font-size: 10pt; border-left: 2px solid rgb(0, 0, 0);" colspan="6">
            <div style="text-align: center; font-family: &#38;quot;">(unaudited)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Total number of vessels at end of period</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">47</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">55</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">47</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">55</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Average number of vessels<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> (2)</sup></div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%;" colspan="1">
            <div style="font-family: &#38;quot;">48.5</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%;" colspan="1">
            <div style="font-family: &#38;quot;">56.1</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">51.8</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">57.6</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Total ownership days for fleet<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> (3)</sup></div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">4,462</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">5,161</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">18,957</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">21,023</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Total chartered-in days <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(4)</sup></div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%;" colspan="1">
            <div style="font-family: &#38;quot;">400</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%;" colspan="1">
            <div style="font-family: &#38;quot;">255</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">1,216</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">1,326</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Total available days for fleet<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> (5)</sup></div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">4,751</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">5,011</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">19,636</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">20,995</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Total available days for owned fleet<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> (6)</sup></div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%;" colspan="1">
            <div style="font-family: &#38;quot;">4,350</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%;" colspan="1">
            <div style="font-family: &#38;quot;">4,756</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">18,420</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">19,669</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Total operating days for fleet<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> (7)</sup></div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">4,637</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">4,864</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">19,204</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">20,589</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Fleet utilization<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> (8)</sup></div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%;" colspan="1">
            <div style="font-family: &#38;quot;">96.8</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">
            <div style="font-family: &#38;quot;">%</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%;" colspan="1">
            <div style="font-family: &#38;quot;">96.4</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">
            <div style="font-family: &#38;quot;">%</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">97.1</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">
            <div style="font-family: &#38;quot;">%</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">97.5</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">%</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot; font-weight: bold;">AVERAGE DAILY RESULTS:</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Time charter equivalent<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> (9)</sup></div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%;" colspan="1">
            <div style="font-family: &#38;quot;">13,167</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%;" colspan="1">
            <div style="font-family: &#38;quot;">12,619</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">10,221</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">10,182</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 34%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Daily vessel operating expenses per vessel <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(10)</sup></div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">4,726</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">4,640</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">4,612</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">4,576</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>

    </table>
    <div style="font-size: 10pt;"><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">12</font></div>
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;" id="z35cb9760e1ed461dbf18b80680f5e7c8">

        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt;">&#160;</td>
          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; border-left: #000000 solid 2px; border-top: #000000 solid 2px;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: middle; font-size: 10pt; border-top: #000000 solid 2px;" colspan="6">
            <div style="text-align: center; font-family: &#38;quot; font-weight: bold;">Three Months Ended</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-top: #000000 solid 2px;" colspan="1">&#160;</td>
          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: middle; font-size: 10pt; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" colspan="6">
            <div style="text-align: center; font-family: &#38;quot; font-weight: bold;">Twelve Months Ended</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
            <div style="text-align: center; font-family: &#38;quot; font-weight: bold;">December 31, 2020</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
            <div style="text-align: center; font-family: &#38;quot; font-weight: bold;">December 31, 2019</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; padding-bottom: 2px; border-left: #000000 solid 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" colspan="2">
            <div style="text-align: center; font-family: &#38;quot; font-weight: bold;">December 31, 2020</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
            <div style="text-align: center; font-family: &#38;quot; font-weight: bold;">December 31, 2019</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot; font-weight: bold;">FLEET DATA:</div>
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          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; border-left: #000000 solid 2px;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: middle; font-size: 10pt;" colspan="6">
            <div style="text-align: center; font-family: &#38;quot;">(unaudited)</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; border-left: #000000 solid 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; font-size: 10pt; border-left: 2px solid rgb(0, 0, 0);" colspan="6">
            <div style="text-align: center; font-family: &#38;quot;">(unaudited)</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot; font-style: italic;">Ownership days</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; border-left: #000000 solid 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt;" colspan="2">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt;" colspan="2">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; border-left: #000000 solid 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; border-left: 2px solid rgb(0, 0, 0);" colspan="2">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt;" colspan="2">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-right: #000000 solid 2px;" colspan="1">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Capesize</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">1,564.0</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">1,564.0</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">6,222.0</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">6,205.0</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Panamax</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">163.4</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">64.8</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">736.6</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Ultramax</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">560.0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">552.0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">2,204.0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">2,190.0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Supramax</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">1,696.0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">1,840.0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">7,176.0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">7,300.0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Handymax</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Handysize</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">642.0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">1,041.9</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">3,290.0</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">4,590.9</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Total</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">4,462.0</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">5,161.3</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">18,956.8</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">21,022.5</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot; font-style: italic;">Chartered-in days</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Capesize</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">44.4</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">227.3</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Panamax</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Ultramax</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">182.4</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">32.2</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">557.1</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">128.5</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Supramax</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">203.7</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">129.4</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">567.2</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">658.7</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Handymax</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">14.5</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">17.4</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Handysize</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">14.3</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">49.1</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">77.4</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">293.9</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Total</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">400.4</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">255.2</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">1,216.2</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">1,325.8</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot; font-style: italic;">Available days (owned &amp; chartered-in fleet)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Capesize</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">1,547.7</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">1,315.0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">6,158.2</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">5,573.9</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Panamax</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">159.1</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">64.4</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">732.0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Ultramax</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">718.2</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">584.2</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">2,657.5</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">2,299.3</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Supramax</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">1,865.6</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">1,861.9</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">7,443.1</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">7,547.4</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Handymax</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">14.5</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">17.4</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Handysize</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">619.2</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">1,091.0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">3,298.2</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">4,824.9</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Total</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">4,750.7</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">5,011.3</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">19,635.9</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">20,994.9</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot; font-style: italic;">Available days (owned fleet)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Capesize</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">1,547.7</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">1,270.6</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">6,158.2</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">5,346.6</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Panamax</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">159.1</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">64.4</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">732.0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Ultramax</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">535.8</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">552.0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">2,100.4</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">2,170.7</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Supramax</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">1,661.9</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">1,732.5</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">6,875.9</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">6,888.6</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Handymax</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Handysize</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">604.9</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">1,041.9</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">3,220.8</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">4,531.0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Total</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">4,350.3</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">4,756.1</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">18,419.7</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">19,669.0</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot; font-style: italic;">Operating days</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Capesize</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">1,521.6</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">1,308.4</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">6,093.0</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">5,525.4</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Panamax</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">132.1</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">60.1</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">697.0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Ultramax</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">712.9</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">568.8</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">2,642.8</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">2,240.1</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Supramax</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">1,824.1</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">1,810.9</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">7,338.1</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">7,413.2</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Handymax</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">14.5</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">17.4</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Handysize</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">578.3</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">1,043.4</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">3,055.9</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">4,695.8</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Total</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">4,636.9</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">4,863.6</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">19,204.4</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">20,588.9</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot; font-style: italic;">Fleet utilization</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Capesize</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">97.3</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">
            <div style="font-family: &#38;quot;">%</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">99.1</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">
            <div style="font-family: &#38;quot;">%</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">98.2</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">
            <div style="font-family: &#38;quot;">%</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">98.4</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">%</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Panamax</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">80.8</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">%</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">92.7</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">%</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">94.6</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">%</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Ultramax</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">98.8</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">
            <div style="font-family: &#38;quot;">%</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">97.4</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">
            <div style="font-family: &#38;quot;">%</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">99.3</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">
            <div style="font-family: &#38;quot;">%</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">97.4</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">%</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Supramax</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">96.8</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">%</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">96.0</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">%</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">97.6</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">%</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">97.3</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">%</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Handymax</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">100.0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">
            <div style="font-family: &#38;quot;">%</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">100.0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">%</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Handysize</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">93.2</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">%</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">95.6</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">%</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">92.2</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">%</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">97.3</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">%</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Fleet average</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">96.8</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">
            <div style="font-family: &#38;quot;">%</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">96.4</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">
            <div style="font-family: &#38;quot;">%</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">97.1</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">
            <div style="font-family: &#38;quot;">%</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">97.5</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">%</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot; font-weight: bold;">Average Daily Results:</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot; font-style: italic;">Time Charter Equivalent</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Capesize</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">17,460</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">18,415</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">14,977</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">13,181</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Panamax</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">8,458</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">4,948</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">10,397</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Ultramax</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">14,089</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">13,037</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">10,320</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">10,994</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Supramax</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">10,514</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">9,983</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">7,957</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">8,939</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Handymax</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Handysize</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">8,822</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">10,396</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">5,987</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">8,157</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Fleet average</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">13,167</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">12,619</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">10,221</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">10,182</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot; font-style: italic;">Daily vessel operating expenses</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Capesize</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">5,232</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">5,108</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">5,106</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">5,076</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Panamax</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">4,913</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">3,290</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">4,621</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Ultramax</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">4,247</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">4,775</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">4,606</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">4,665</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Supramax</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">4,648</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">4,616</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">4,456</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">4,474</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Handymax</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Handysize</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">4,105</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">3,865</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">3,994</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: &#38;quot;">4,016</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Fleet average</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">4,726</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">4,640</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">4,612</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">4,576</div>
          </td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 52%; padding-bottom: 2px;" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); padding-bottom: 2px;" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
        </tr>

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    <div style="font-size: 10pt;"><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">13</font></div>
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <table cellspacing="0" cellpadding="0" id="zb41b0907e60a489c8b1650082e5c0c03" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 18pt; font-size: 10pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">1)</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">EBITDA represents net income (loss) plus net interest expense, taxes, and depreciation and amortization. EBITDA is included because it is used by management and certain investors as a measure of
              operating performance. EBITDA is used by analysts in the shipping industry as a common performance measure to compare results across peers. Our management uses EBITDA as a performance measure in consolidating internal financial statements and
              it is presented for review at our board meetings. We believe that EBITDA is useful to investors as the shipping industry is capital intensive which often results in significant depreciation and cost of financing. EBITDA presents investors
              with a measure in addition to net income to evaluate our performance prior to these costs. EBITDA is not an item recognized by U.S. GAAP (i.e. non-GAAP measure) and should not be considered as an alternative to net income, operating income or
              any other indicator of a company's operating performance required by U.S. GAAP. EBITDA is not a measure of liquidity or cash flows as shown in our consolidated statement of cash flows. The definition of EBITDA used here may not be comparable
              to that used by other companies.</div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" id="z882fca8d9e7b470ba43767c54410c037" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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          <td style="width: 18pt; font-size: 10pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">2)</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">Average number of vessels is the number of vessels that constituted our fleet for the relevant period, as measured by the sum of the number of days each vessel was part of our fleet during the period
              divided by the number of calendar days in that period.</div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" id="z06329b89876c4ffb95537364923bf4e6" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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          <td style="width: 18pt; font-size: 10pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">3)</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">We define ownership days as the aggregate number of days in a period during which each vessel in our fleet has been owned by us. Ownership days are an indicator of the size of our fleet over a period
              and affect both the amount of revenues and the amount of expenses that we record during a period.</div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" id="z64280a8e934c4445a4eeae900ffefe01" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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          <td style="width: 18pt; font-size: 10pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">4)</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">We define chartered-in days as the aggregate number of days in a period during which we chartered-in third-party vessels.</div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" id="zf04fd4a9fd24423d85f83817a95f7142" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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          <td style="width: 18pt; font-size: 10pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">5)</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">We define available days as the number of our ownership days and chartered-in days less the aggregate number of days that our vessels are off-hire due to familiarization upon acquisition, repairs or
              repairs under guarantee, vessel upgrades or special surveys.&#160; Companies in the shipping industry generally use available days to measure the number of days in a period during which vessels should be capable of generating revenues.</div>
          </td>
        </tr>

    </table>
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        <tr>
          <td style="width: 18pt; font-size: 10pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">6)</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">We define available days for the owned fleet as available days less chartered-in days.</div>
          </td>
        </tr>

    </table>
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          <td style="width: 18pt; font-size: 10pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">7)</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">We define operating days as the number of our total available days in a period less the aggregate number of days that the vessels are off-hire due to unforeseen circumstances. The shipping industry
              uses operating days to measure the aggregate number of days in a period during which vessels actually generate revenues.</div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" id="z4bcbb3d84d0a40b8a43bf80bcd43eecc" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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          <td style="width: 18pt; font-size: 10pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">8)</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">We calculate fleet utilization as the number of our operating days during a period divided by the number of ownership days plus chartered-in days less drydocking days.</div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" id="zb7dee9ade4c04f14bae3fc113dd43fe6" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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          <td style="width: 18pt; font-size: 10pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">9)</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">We define TCE rates as our voyage revenues less voyage expenses and charter hire expenses, divided by the number of the available days of our owned fleet during the period<font style="font-family: 'Times New Roman'; font-weight: bold;">.</font> TCE rate is a common shipping industry performance measure used primarily to compare daily earnings generated by vessels on time charters with daily earnings generated by vessels on voyage
              charters, because charterhire rates for vessels on voyage charters are generally not expressed in per-day amounts while charterhire rates for vessels on time charters generally are expressed in such amounts. Our estimated TCE for the first
              quarter of 2021 is based on fixtures booked to date. Actual results may vary based on the actual duration of voyages and other factors. Accordingly, we are unable to provide, without unreasonable efforts, a reconciliation of estimated TCE for
              the first quarter to the most comparable financial measures presented in accordance with GAAP.</div>
          </td>
        </tr>

    </table>
    <div style="text-align: center; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> </font><font style="font-size: 10pt;"><br>
      </font></div>
    <table cellspacing="0" cellpadding="0" border="0" align="center" style="width: 90%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;" id="z7ef14b87213444dca6692e4d66bcbf13">

        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; padding-bottom: 2px; width: 24%;">&#160;</td>
          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: middle; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);" colspan="2">
            <div style="text-align: center; font-family: &#38;quot; font-weight: bold;">Three Months Ended December 31, 2020</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: middle; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);" colspan="2">
            <div style="text-align: center; font-family: &#38;quot; font-weight: bold;">Three Months Ended December 31, 2019</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); padding-bottom: 2px; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: middle; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" colspan="2">
            <div style="text-align: center; font-family: &#38;quot; font-weight: bold;">Twelve Months Ended December 31, 2020</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: middle; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);" colspan="2">
            <div style="text-align: center; font-family: &#38;quot; font-weight: bold;">Twelve Months Ended December 31, 2019</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; padding-bottom: 2px; width: 24%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot; font-weight: bold;">Total Fleet</div>
          </td>
          <td valign="bottom" style="font-size: 10pt; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: middle; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);" colspan="6">
            <div style="text-align: center; font-family: &#38;quot;">(unaudited)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; padding-bottom: 2px; border-left: 2px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" colspan="6">
            <div style="text-align: center; font-family: &#38;quot;">(unaudited)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 24%; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Voyage revenues (in thousands)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">95,495</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">108,705</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">355,560</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">389,496</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 24%;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Voyage expenses (in thousands)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: #000000 solid 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%;" colspan="1">
            <div style="font-family: &#38;quot;">33,435</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%;" colspan="1">
            <div style="font-family: &#38;quot;">45,254</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: #000000 solid 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">156,985</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">173,043</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: #000000 solid 2px;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 24%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Charter hire expenses (in thousands)</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">4,780</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">3,436</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px; border-left: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">10,307</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">16,179</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 24%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: #000000 solid 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%;" colspan="1">
            <div style="font-family: &#38;quot;">57,280</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%;" colspan="1">
            <div style="font-family: &#38;quot;">60,015</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: #000000 solid 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">188,268</div>
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          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%;" colspan="1">
            <div style="font-family: &#38;quot;">200,274</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: #000000 solid 2px;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 24%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 24%; padding-bottom: 2px;">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Total available days for owned fleet</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">4,350</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">4,756</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">18,420</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">19,669</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 24%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: &#38;quot;">Total TCE rate</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">13,167</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">12,619</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 4px; border-left: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">10,221</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">$</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
            <div style="font-family: &#38;quot;">10,182</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 24%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 13%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 14%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" rowspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" rowspan="1">&#160;</td>
        </tr>

    </table>
    <div style="font-size: 10pt;"><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="ze17c8f396d8f43bb822067a5ee21d0e2" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 18pt; font-size: 10pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">10)</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
            <div style="font-family: 'Times New Roman';">We define daily vessel operating expenses to include crew wages and related costs, the cost of insurance expenses relating to repairs and maintenance (excluding drydocking), the costs of spares and
              consumable stores, tonnage taxes and other miscellaneous expenses. Daily vessel operating expenses are calculated by dividing vessel operating expenses by ownership days for the relevant period.</div>
          </td>
        </tr>

    </table>
    <div style="font-size: 10pt;"><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">14</font></div>
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><u>About Genco Shipping &amp; Trading Limited</u></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Genco Shipping &amp; Trading Limited transports iron ore, coal, grain, steel products and other drybulk
        cargoes along worldwide shipping routes. Capesize vessels represent our major bulk vessel category and the other vessel classes, including Ultramax and Supramax vessels, represent our minor bulk vessel category.&#160; Our major bulk vessels are
        primarily used to transport iron ore and coal, while our minor bulk vessels are primarily used to transport grains, steel products and other drybulk cargoes such as cement, scrap, fertilizer, bauxite, nickel ore, salt and sugar. This approach of
        owning ships that transport both major and minor bulk commodities provide us with exposure to a wide range of drybulk trade flows.</font><font style="font-size: 10pt;">&#160;<font style="font-family: 'Times New Roman';">As of February 24, 2021, Genco
          Shipping &amp; Trading Limited&#8217;s fleet consists of 17 Capesize, nine Ultramax and 15 Supramax vessels with an aggregate capacity of approximately 4,421,000 dwt and an average age of 10.2 years.</font></font></div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">15</font></div>
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The following table reflects Genco&#8217;s fleet list as of February 24, 2021:</div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="font-size: 10pt;">
      <table cellspacing="0" cellpadding="0" align="center" id="zb5368f3e0f104833b69fa30c48770544" style="font-family: 'Times New Roman'; font-size: 10pt; width: 50%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td style="vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;" colspan="3">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Vessel</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); text-align: center;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">DWT</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); text-align: center;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Year Built</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="3">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Capesize</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt;">1</div>
            </td>
            <td style="width: 1%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 17%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Genco Resolute</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">181,060</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">2015</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt;">2</div>
            </td>
            <td style="width: 1%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td nowrap="nowrap" style="width: 17%; vertical-align: bottom;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Genco Endeavour</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">181,060</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">2015</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt;">3</div>
            </td>
            <td style="width: 1%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 17%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Genco Constantine</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">180,183</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">2008</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt;">4</div>
            </td>
            <td style="width: 1%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td nowrap="nowrap" style="width: 17%; vertical-align: bottom;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Genco Augustus</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">180,151</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">2007</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt;">5</div>
            </td>
            <td style="width: 1%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 17%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Genco Liberty</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">180,032</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">2016</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt;">6</div>
            </td>
            <td style="width: 1%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td nowrap="nowrap" style="width: 17%; vertical-align: bottom;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Genco Defender</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">180,021</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">2016</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt;">7</div>
            </td>
            <td style="width: 1%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 17%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Baltic Lion</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">179,185</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">2012</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt;">8</div>
            </td>
            <td style="width: 1%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td nowrap="nowrap" style="width: 17%; vertical-align: bottom;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Genco Tiger</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">179,185</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">2011</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt;">9</div>
            </td>
            <td style="width: 1%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 17%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Genco London</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">177,833</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">2007</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt;">10</div>
            </td>
            <td style="width: 1%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td nowrap="nowrap" style="width: 17%; vertical-align: bottom;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Baltic Wolf</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">177,752</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">2010</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt;">11</div>
            </td>
            <td style="width: 1%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 17%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Genco Titus</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">177,729</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">2007</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt;">12</div>
            </td>
            <td style="width: 1%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td nowrap="nowrap" style="width: 17%; vertical-align: bottom;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Baltic Bear</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">177,717</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">2010</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt;">13</div>
            </td>
            <td style="width: 1%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 17%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Genco Tiberius</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">175,874</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">2007</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt;">14</div>
            </td>
            <td style="width: 1%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td nowrap="nowrap" style="width: 17%; vertical-align: bottom;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Genco Commodus</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">169,098</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">2009</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt;">15</div>
            </td>
            <td style="width: 1%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 17%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Genco Hadrian</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">169,025</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">2008</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt;">16</div>
            </td>
            <td style="width: 1%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td nowrap="nowrap" style="width: 17%; vertical-align: bottom;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Genco Maximus</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">169,025</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">2009</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt;">17</div>
            </td>
            <td style="width: 1%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 17%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Genco Claudius</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">169,001</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">2010</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="3">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Ultramax</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt;">1</div>
            </td>
            <td style="width: 1%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 17%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Baltic Hornet</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">63,574</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">2014</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt;">2</div>
            </td>
            <td style="width: 1%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td nowrap="nowrap" style="width: 17%; vertical-align: bottom;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Genco Freedom</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">63,498</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">2015</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt;">3</div>
            </td>
            <td style="width: 1%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 17%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Genco Vigilant</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">63,498</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">2015</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt;">4</div>
            </td>
            <td style="width: 1%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td nowrap="nowrap" style="width: 17%; vertical-align: bottom;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Baltic Mantis</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">63,470</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">2015</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt;">5</div>
            </td>
            <td style="width: 1%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 17%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Baltic Scorpion</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">63,462</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">2015</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt;">6</div>
            </td>
            <td style="width: 1%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td nowrap="nowrap" style="width: 17%; vertical-align: bottom;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Genco Magic</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">63,446</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">2014</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt;">7</div>
            </td>
            <td style="width: 1%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 17%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Baltic Wasp</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">63,389</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">2015</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt;">8</div>
            </td>
            <td style="width: 1%; vertical-align: top; font-size: 10pt;">&#160;</td>
            <td nowrap="nowrap" style="width: 17%; vertical-align: bottom;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Genco Weatherly</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">61,556</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">2014</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt;">9</div>
            </td>
            <td style="width: 1%; vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 17%; vertical-align: bottom; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Genco Columbia</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">60,294</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">2016</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">16</font></div>
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" align="center" id="ze5bdfe5201314904a6a2d4d459bbcecb" style="font-family: 'Times New Roman'; font-size: 10pt; width: 50%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

        <tr>
          <td nowrap="nowrap" style="vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);" rowspan="1" colspan="3">
            <div style="text-align: left; font-family: 'Times New Roman'; font-weight: bold;">Supramax</div>
          </td>
          <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);" rowspan="1">&#160;</td>
          <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);" rowspan="1">&#160;</td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 3%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; font-family: 'Times New Roman';">1</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td nowrap="nowrap" style="width: 16%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; font-family: 'Times New Roman';">Genco Hunter</div>
          </td>
          <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman';">58,729</div>
          </td>
          <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman';">2007</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 3%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">
            <div style="text-align: right; font-family: 'Times New Roman';">2</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; font-size: 10pt;" colspan="1">&#160;</td>
          <td nowrap="nowrap" style="width: 16%; vertical-align: bottom; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman';">Genco Auvergne</div>
          </td>
          <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt;">
            <div style="text-align: center; font-family: 'Times New Roman';">58,020</div>
          </td>
          <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
            <div style="text-align: center; font-family: 'Times New Roman';">2009</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 3%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; font-family: 'Times New Roman';">3</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td nowrap="nowrap" style="width: 16%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; font-family: 'Times New Roman';">Genco Rhone</div>
          </td>
          <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman';">58,018</div>
          </td>
          <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman';">2011</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 3%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">
            <div style="text-align: right; font-family: 'Times New Roman';">4</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; font-size: 10pt;" colspan="1">&#160;</td>
          <td nowrap="nowrap" style="width: 16%; vertical-align: bottom; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman';">Genco Ardennes</div>
          </td>
          <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt;">
            <div style="text-align: center; font-family: 'Times New Roman';">58,018</div>
          </td>
          <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
            <div style="text-align: center; font-family: 'Times New Roman';">2009</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 3%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; font-family: 'Times New Roman';">5</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td nowrap="nowrap" style="width: 16%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; font-family: 'Times New Roman';">Genco Brittany</div>
          </td>
          <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman';">58,018</div>
          </td>
          <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman';">2010</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 3%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">
            <div style="text-align: right; font-family: 'Times New Roman';">6</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; font-size: 10pt;" colspan="1">&#160;</td>
          <td nowrap="nowrap" style="width: 16%; vertical-align: bottom; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman';">Genco Languedoc</div>
          </td>
          <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt;">
            <div style="text-align: center; font-family: 'Times New Roman';">58,018</div>
          </td>
          <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
            <div style="text-align: center; font-family: 'Times New Roman';">2010</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 3%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; font-family: 'Times New Roman';">7</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td nowrap="nowrap" style="width: 16%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; font-family: 'Times New Roman';">Genco Pyrenees</div>
          </td>
          <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman';">58,018</div>
          </td>
          <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman';">2010</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 3%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">
            <div style="text-align: right; font-family: 'Times New Roman';">8</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; font-size: 10pt;" colspan="1">&#160;</td>
          <td nowrap="nowrap" style="width: 16%; vertical-align: bottom; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman';">Genco Bourgogne</div>
          </td>
          <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt;">
            <div style="text-align: center; font-family: 'Times New Roman';">58,018</div>
          </td>
          <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
            <div style="text-align: center; font-family: 'Times New Roman';">2010</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 3%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; font-family: 'Times New Roman';">9</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td nowrap="nowrap" style="width: 16%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; font-family: 'Times New Roman';">Genco Aquitaine</div>
          </td>
          <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman';">57,981</div>
          </td>
          <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman';">2009</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 3%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">
            <div style="text-align: right; font-family: 'Times New Roman';">10</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; font-size: 10pt;" colspan="1">&#160;</td>
          <td nowrap="nowrap" style="width: 16%; vertical-align: bottom; font-size: 10pt;">
            <div style="text-align: left; font-family: 'Times New Roman';">Genco Warrior</div>
          </td>
          <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt;">
            <div style="text-align: center; font-family: 'Times New Roman';">55,435</div>
          </td>
          <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
            <div style="text-align: center; font-family: 'Times New Roman';">2005</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 3%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; font-family: 'Times New Roman';">11</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td nowrap="nowrap" style="width: 16%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: left; font-family: 'Times New Roman';">Genco Predator</div>
          </td>
          <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman';">55,407</div>
          </td>
          <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman';">2005</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 3%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">
            <div style="text-align: right; font-family: 'Times New Roman';">12</div>
          </td>
          <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; font-size: 10pt;" colspan="1">&#160;</td>
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            <div style="text-align: right; font-family: 'Times New Roman';">13</div>
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            <div style="text-align: left; font-family: 'Times New Roman';">Genco Picardy</div>
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            <div style="text-align: center; font-family: 'Times New Roman';">55,257</div>
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            <div style="text-align: right; font-family: 'Times New Roman';">14</div>
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            <div style="text-align: center; font-family: 'Times New Roman';">53,447</div>
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            <div style="text-align: center; font-family: 'Times New Roman';">2009</div>
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            <div style="text-align: right; font-family: 'Times New Roman';">15</div>
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            <div style="text-align: left; font-family: 'Times New Roman';">Genco Lorraine</div>
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    <div style="text-align: left; font-size: 10pt;"><a name="z_DV_M61"></a><br>
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    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">17</font></div>
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    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><u>Conference Call Announcement</u></div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Genco Shipping &amp; Trading Limited will hold a conference call on Thursday, February 25, 2021 at 8:30 a.m. Eastern Time to discuss its 2020 fourth quarter financial
      results. The conference call and a presentation will be simultaneously webcast and will be available on the Company&#8217;s website, www.GencoShipping.com. To access the conference call, dial (929) 477-0591 or (866) 248-8441 and enter passcode 9501899. A
      replay of the conference call can also be accessed for two weeks by dialing (888) 203-1112 or (719) 457-0820 and entering the passcode 9501899. The Company intends to place additional materials related to the earnings announcement, including a slide
      presentation, on its website prior to the conference call. </div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Website Information</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">We intend to use our website, www.GencoShipping.com, as a means of disclosing material non-public information and for complying with our disclosure obligations under
      Regulation FD. Such disclosures will be included in our website&#8217;s Investor Relations section. Accordingly, investors should monitor the Investor Relations portion of our website, in addition to following our press releases, SEC filings, public
      conference calls, and webcasts. To subscribe to our e-mail alert service, please click the &#8220;Receive E-mail Alerts&#8221; link in the Investor Relations section of our website and submit your email address.&#160; The information contained in, or that may be
      accessed through, our website is not incorporated by reference into or a part of this document or any other report or document we file with or furnish to the SEC, and any references to our website are intended to be inactive textual references only.</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">"Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995</div>
    <div style="font-size: 10pt;">&#160;</div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">This release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such
      forward-looking statements use words such as &#8220;anticipate,&#8221; &#8220;budget,&#8221; &#8220;estimate,&#8221; &#8220;expect,&#8221; &#8220;project,&#8221; &#8220;intend,&#8221; &#8220;plan,&#8221; &#8220;believe,&#8221; and other words and terms of similar meaning in connection with a discussion of potential future events, circumstances
      or future operating or financial performance.&#160; These forward-looking statements are based on our management&#8217;s current expectations and observations. Included among the factors that, in our view, could cause actual results to differ materially from
      the forward looking statements contained in this report are the following: (i) declines or sustained weakness in demand in the drybulk shipping industry; (ii) continuation of weakness or declines in drybulk shipping rates; (iii) changes in the supply
      of or demand for drybulk products, generally or in particular regions; (iv) changes in the supply of drybulk carriers including newbuilding of vessels or lower than anticipated scrapping of older vessels; (v) changes in rules and regulations
      applicable to the cargo industry, including, without limitation, legislation adopted by international organizations or by individual countries and actions taken by regulatory authorities; (vi) increases in costs and expenses including but not limited
      to: crew wages, insurance, provisions, lube oil, bunkers, repairs, maintenance, general and administrative expenses, and management fee expenses; (vii) whether our insurance arrangements are adequate; (viii) changes in general domestic and
      international political conditions; (ix) acts of war, terrorism, or piracy; (x) changes in the condition of the Company&#8217;s vessels or applicable maintenance or regulatory standards (which may affect, among other things, our anticipated drydocking or
      maintenance and repair costs) and unanticipated drydock expenditures; (xi) the Company&#8217;s acquisition or disposition of vessels; (xii) the amount</div>
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    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">of offhire time needed to complete maintenance, repairs, and installation of equipment to comply with applicable regulations on vessels and the timing and amount of any
      reimbursement by our insurance carriers for insurance claims, including offhire days; (xiii) the completion of definitive documentation with respect to charters; (xiv) charterers&#8217; compliance with the terms of their charters in the current market
      environment; (xv) the extent to which our operating results continue to be affected by weakness in market conditions and freight and charter rates; (xvi) our ability to maintain contracts that are critical to our operation, to obtain and maintain
      acceptable terms with our vendors, customers and service providers and to retain key executives, managers and employees; (xvii) completion of documentation for vessel transactions and the performance of the terms thereof by buyers or sellers of
      vessels and us; (xviii) the relative cost and availability of low sulfur and high sulfur fuel, worldwide compliance with sulfur emissions regulations that took effect on January 1, 2020 and our ability to&#160; realize the economic benefits or recover the
      cost of the scrubbers we have installed.; (xix) our financial results for the year ending December 31, 2021 and other factors relating to determination of the tax treatment of dividends we have declared; (xx) the duration and impact of the COVID-19
      novel coronavirus epidemic, which may negatively affect general global and regional economic conditions; our ability to charter our vessels at all and the rates at which are able to do so; our ability to call on or depart from ports on a timely basis
      or at all; our ability to crew, maintain, and repair our vessels, including without limitation the impact diversion of our vessels to perform crew rotations may have on our revenues, expenses, and ability to consummate vessel sales, expense and
      disruption to our operations that may arise from the inability to rotate crews on schedule, and delay and added expense we may incur in rotating crews in the current environment; our ability to staff and maintain our headquarters and administrative
      operations; sources of cash and liquidity; our ability to sell vessels in the secondary market, including without limitation the compliance of purchasers and us with the terms of vessel sale contracts, and the prices at which vessels are sold; and
      other factors relevant to our business described from time to time in our filings with the Securities and Exchange Commission; and (xxii) other factors listed from time to time in our filings with the Securities and Exchange Commission, including,
      without limitation, our Annual Report on Form 10-K for the year ended December 31, 2019 and subsequent reports on Form 8-K and Form 10-Q. Our ability to pay dividends in any period will depend upon various factors, including the limitations under any
      credit agreements to which we may be a party, applicable provisions of Marshall Islands law and the final determination by the Board of Directors each quarter after its review of our financial performance. The timing and amount of dividends, if any,
      could also be affected by factors affecting cash flows, results of operations, required capital expenditures, or reserves.&#160; As a result, the amount of dividends actually paid may vary.&#160; We do not undertake any obligation to update or revise any
      forward-looking statements, whether as a result of new information, future events or otherwise.</div>
    <div style="font-size: 10pt;"><br>
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    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">CONTACT:</div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Apostolos Zafolias</div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Chief Financial Officer</div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Genco Shipping &amp; Trading Limited</div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">(646) 443-8550</div>
    <div style="font-size: 10pt;"><br>
    </div>
    <div style="font-size: 10pt;">&#160;
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<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>5
<FILENAME>gnk-20210224_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
<XBRL>
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<span style="display: none;">v3.20.4</span><table class="report" border="0" cellspacing="2" id="idm140101565206008">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Document and Entity Information<br></strong></div></th>
<th class="th"><div>Feb. 24, 2021</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CoverAbstract', window );"><strong>Cover [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Feb. 24,  2021<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">GENCO SHIPPING & TRADING LTD<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">1T<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">001-33393<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">98-0439758<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">299 PARK AVENUE<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine2', window );">Entity Address, Address Line Two</a></td>
<td class="text">12TH FLOOR<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">NEW YORK<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">NY<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">10171<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">646<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">443-8550<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre-commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre-commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0001326200<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Common stock, par value $0.01 per share<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">GNK<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CoverAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cover page.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CoverAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Address Line 2 such as Street or Suite number</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine2</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td>na</td>
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<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td>xbrli:normalizedStringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementIssuerTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementIssuerTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SecurityExchangeName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SecurityExchangeName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
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<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SolicitingMaterial">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Section 14a<br> -Number 240<br> -Subsection 12<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SolicitingMaterial</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>dei:tradingSymbolItemType</td>
</tr>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_WrittenCommunications">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 425<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_WrittenCommunications</td>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
