Hapakloid just finished the first quarter of 2017 and joining me now here in the Fleet Support Centre is Ralph Haben Jansen, the CEO of Hapakloid. How satisfied are you with the results? The results of the first quarter a bit of mixed bag. Volume was strong, there are some improvement in rate but not so much as we would like and bunker costs were actually up quite a lot. What impact had the latest developments in fried rates and bunker prices on the results? Well you always see that bunker cost goes up, it takes a little bit of time before you see that reflected in the fried rates. So in the first quarter we definitely see the effect of higher bunker cost but not yet the full effect of the increase in fried rates which we actually expect to see as from the second and especially the third and fourth quarter onwards. What kind of further development do you expect with regard to fried rates and bunker prices? Well today the market is quite strong, I mean volume is developing well and we believe that the fried rates will recover further which is also not un-logical after they have been declining for such a long time. What main activities did you focus on in the last quarter and what are the priorities for the next month? Well of course for us it was important in the first quarter to continue working on the project with UASC that is now very close to completion and that also means that in Q2 and Q3 we will be very much focused on the integration apart from of course continuing to offer good service to our customers and negotiating best possible rates also for the remainder of 17 and hopefully already on into 18 as well. What are your expectations for the rest of the year for the industry and for Hapakloid? Well as far as we can see it right now the outlook is actually fairly positive, supplier and demand again and closer and closer together. We see that the contracts that we close today generally have better rates than what we have seen before and I believe that we are well prepared for the integration so from that perspective I'm cautiously optimistic when looking into the remainder of 2017. Thank you Ralph Habenjanzin, the CEO of Hapakloid and thank you for watching.