In May, EP Resources AG was successful in concluding its first physical iron ore trade for delivery in June. We purchased a full cape size vessel of iron ore loading from Port Walcott in Western Australia and will be delivering it to two ports Beilun and Taicang in China. We are proud to have finalized this deal with first class counterparties and we appreciate their support. Together with LNG, our physical iron ore trading is an important step forward for EP Resources AG to further diversify the portfolio and to increase activity with other commodities, in addition to continuing our thermal coal and freight business.