Navigator Holdings Ltd. (NYSE:NVGS) Q4 2019 Earnings Conference Call - Final Transcript
Apr 03, 2020 • 09:00 am ET
Ladies and gentlemen, thank you for standing by and welcome to today's Navigator Holdings Conference Call on the Fourth Quarter and Year-End 2019 Financial Results. I have with us Mr. David Butters, Executive Chairman; Mr. Harry Deans, Chief Executive Officer; Mr. Niall Nolan, Chief Financial Officer; Mr. Oeyvind Lindeman, Chief Commercial Officer.
At this time, all participants are in a listen-only mode. [Operator Instructions] I must advise you that this conference is being recorded today, Friday, 3rd of April 2020. And I would now like to pass the floor to one of your speakers, Mr. Butters. Please go ahead, sir.
Thank you, Kaes, and good morning, everyone, and welcome to Navigator's fourth quarter earnings conference call. I hope everyone is healthy, safe, and secure. Before we actually begin our formal remarks, I would like to point out: as we conduct today's conference call, we will be making various forward-looking statements. These statements include, but not limited to, our expectations, plans and prospects from both the financial and operational perspective. These forward-looking statements are based upon management's assumptions, forecasts, and expectations as of today's date, and as such are subject to material risks and uncertainties. Actual results may differ significantly from forward-looking information and financial forecasts. Additional information about those factors and assumptions are included in our annual and quarterly reports filed with the Securities and Exchange Commission.
First, let me apologize for the late reporting of our results. I know this may have caused some concern. The nature of the delay stems from the decision made almost two years ago to change our auditors from KPMG to E&Y. We made this decision based upon good corporate governance and its practice, and our continued search to improve our accounting platform. We fully understood that in doing so, it would likely result in a two or possibly three-week delay in getting our year-end audit complete. That is exactly what happened. But unfortunately, this delay pushed us into a quarantine shutdown in our London office and forced everyone, including the auditors, to work at home. Naturally, the consequence of everyone working from home, resulted in a much-delayed audit process.
So, today, our speakers will include Harry deans, our President and CEO; Niall Nolan, Navigator's Chief Financial Officer; and our Chief Commercial Officer, Oeyvind Lindeman. So, let me pass the call over to Harry, who wants to make introductory comments. Harry?
Thank you, David, and good morning to everyone on the call. I hope you're all well and keeping safe. The world, well, it's a completely different place today compared to when we last had our Q3 call in November 2019. Since then, the COVID-19 pandemic has swept the globe with as far-reaching consequences for human health, social interaction and the world economy.
The first economic effects felt in China before spreading to the rest of Asia, and now to Europe, the Americas and beyond. All markets are experiencing huge volatility and unprecedented turbulence with considerable headwinds in many sectors. However, amongst all the doom,