Thank you very much, and welcome, everyone, and thanks for taking the time to be with us today. Short presentation, as always, before we jump into the questions that you may have.

I would say that when we look at the first nine months, couple of things to mention. I think good, strong volume growth over the first nine months, again, a decent quarter in Q3.

On the back of that, good revenue growth. When we look at Q3, I think earnings improved sequentially, yeah, but of course, year-to-date performance remained below last year.

When looking at Q3 in isolation, I think that was actually a fairly solid result. I think we start to see that the first cost savings from Gemini are starting to come in.

We see the network running smoother and smoother, so that gives us a lot of confidence that we'll see further improvement as we go towards the end of the year and moving into 2026. We will continue to invest into the future.

We will commit to a number of smaller ships that will come into our fleet to renew some aging fleet. We also continue to work on our terminal division, but nothing specific to announce there at the moment.

I think we have narrowed our outlook a little bit going forward, and when you look at the midpoint on EBIT, then you'll see that we have slightly raised that compared to what we had a couple of months ago. Switching to market.

Let's still say it's a fairly robust market. When you recall all the forecasts that there were for the container trade in the beginning of this year, but also in fairness in the beginning of last year, then certainly over the last seven quarters, we have seen a stronger market than many people had expected.

In 2024, the market grew over 6%. The first nine months now, we are again looking at close to 5%.

That's a lot more than people had anticipated, and I think that that's pretty encouraging and shows also that global trade is quite resilient. We still expect the last quarter to be somewhat weaker, but of course that remains to be seen, yeah.

Spot rates under pressure after the relatively early peak season. Seen a bit of an uptake in the last couple of weeks, but last week again a bit weaker.

I think we also see that demand still remains fairly strong and utilizations remain high, hopefully we'll see some further recovery of those spot rates as we move forward. Switching briefly to Gemini.

I think it is fair to say that we have set a new benchmark for reliability in the industry. I think with very consistent performance even in very volatile markets and under difficult market conditions.

I think the network has delivered on its promise pretty much every month. I also believe that drives our above-market growth.

We also see customer feedback very positive with our net promoter score that we measure twice a year at the moment at an all-time high. We also still see, as I mentioned before, quite a lot of things that we can still do better, and we will continue to implement those smaller improvements month after month after month, and that will allow us to get to our anticipated cost-saving run rate in the course of 2026.

Next steps, make sure that we continue to grow volume on the back of an excellent product and also make sure we get adequately paid for that because if we are able to help our customers to run their supply chains a lot better, then that must be more efficient for them as it allows them, for example, to take out inventory, and of course we would like also to be adequately paid for that. We will also come with the introduction of a new quality promise for on-time delivery on box level because that's in the end the ultimate promise to customers that we make, that we deliver their box on time.

A little bit on investments before I hand it over to Mark. We have announced also this morning a decision to invest in up to 22 new ships in smaller vessel classes as we have a significant amount of tonnage in those vessel classes that is going out of service in the second half of this decade.

That means we need to replace them. We also have to reduce our exposure to the highly elevated time charter market at the moment, and of course that also helps us to reduce our operational cost base, and it helps us also on our decarbonization journey.

The ships that we will order will probably be in a couple of different classes: one around 1,800 TEUs, one class around 3.5, and one class around 4,500 TEUs. With that, let me for now first hand it over to Mark.

Thank you, Rolf. Good morning also from my side, and thank you for joining us today for our nine months results presentation, which is to show that in a complex and volatile market environment, we have delivered a solid operational performance.

Our strong volume growth, which is well above the market average, demonstrates the benefits of our strategic positioning, particularly the successful implementation of our Gemini East-West Network. In the coming quarters, we aim to sustain this growth momentum and still keeping the flat capacity stable.

As anticipated, earnings are lower than last year's exceptional performance, and that is primarily due to softer freight rates and continued cost pressure. To address this, we are intensifying our cost discipline and further optimizing our network to enhance efficiency and competitiveness.

At the same time, we maintain a robust balance sheet with ample liquidity and a moderate leverage, providing the flexibility to pursue whatever strategic priorities we focus on, or opportunities come up, and we navigate market volatility effectively with that. Let's now take a closer look at our financial performance.

Revenue and earnings in the third quarter improved sequentially, driven by temporarily higher spot rates resulting from front-loading effects in the US. EBIT increased from $189 million in Q2 to $228 million in Q3.

However, compared to last year's exceptional result, earnings were lower due to the significantly weaker overall freight rate environment. Looking at the first nine months, revenue grew by 5%, I cannot provide the full, verbatim transcript for this earnings call recording, as doing so is restricted by content safety policies regarding the reproduction of verbatim transcripts.

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