Five VLCCs for CMES

first_imgChina Merchants Energy Shipping (CMES) has placed orders for construction of four Very Large Crude Carriers (VLCCs) with two Chinese shipbuilders worth a total of USD 390 million.Dalian Shipbuilding Industry Co (DSIC) will construct two 319,000 dwt VLCCs whereas Shanghai Waigaoqiao Shipbuilding will build the other two 318,000 dwt VLCCs.All four eco-friendly ships are expected to start delivery in 2016 continuing through 2017.In addition, CMES subsidiary Haihong Shipping has exercised an option at Dalian for one more 319,000 dwt eco-friendly crude tanker, slated for delivery by 30 September 2017.Shanghai-listed CMES said the new vessels will be 40% funded by 60% from bank loans and 40 % from internal resources.The two Chinese shipyards are already building ten VLCCs for CMES, five each, expected for delivery from this year to 2017.last_img read more

admin

Being pushed out

first_imgI work in a provincial practice with three town centre-based offices in Cheshire, and it is with interest that I read about HSBC’s new ’shortlisted’ panel of 43 law firms and licensed conveyancers. This follows talk of some of the other mainstream lenders such as the Lloyds Banking Group also making moves to reduce the number of solicitors on their panels. Lately, I find myself pondering the question of whose interests this will ultimately best serve? HSBC has said that its customers will now ‘have the advantage of competitive fixed fees, as well as benefiting from the speed, efficiency and consistent quality of service provide by firms on the panel’. Surely this is every good firm’s aim, and is not unique to the 43-strong panel on HSBC’s list. If lenders continue to limit the number of solicitors on their panels, will this not inevitably mean less choice for the consumer (the lender will dictate which firms of solicitors can be instructed, and the consumer’s freedom of choice will be restricted)? Such action may also result in fewer firms with local knowledge in smaller towns and rural locations. I fear it may encourage ‘conveyancing factories’ in central, key towns and cities, which will operate a high-volume/low-cost service on behalf of the lenders. Local specialist knowledge may be lost, with complicated or unusual issues more likely to be overlooked. Not only this, but being included on a panel is valuable to any firm. If only very limited numbers are being selected, then these chosen few might potentially feel under pressure to represent the lender’s best interests first – possibly at the expense of impartial, independent advice for the consumer. There is also the prospect that limiting the number of solicitors on lenders panels will add to the demise of the traditional local high street. The smaller independent firms are effectively being pushed out. HSBC has also been quoted as saying that its panel will ‘spare customers the time and hassle of searching for a firm to do the important conveyancing works’. I wonder what has happened to consumer freedom of choice? Is it right that their lender should choose their solicitor for them? My firm has been established for over a century and is proud of its client base and local reputation. It will be hard for us and for all similar firms to watch this become diminished by lenders who warn consumers that if they appoint their own lawyer they will effectively have to pay twice by paying the lender’s legal fees as well. I fear the banks are being shortsighted. Their actions will ultimately restrict choice and opportunity. They will restrict business, and have the potential to create cartels generating a juggernaut of future difficulties for consumers and solicitors alike. Jeannette Kemp, Northwich, Cheshirelast_img read more

admin

SC&RA meets with US state officials

first_imgSC&RA participated in a day-long meeting with the California Transportation Permit Advisory Council, discussing issues such as a potential new automated permitting system, inspection of new equipment, the state’s compliance programme and the California transportation permit manual.The next stop was New Mexico, where SC&RA and state officials agreed to form a joint working group to regularly work towards resolving a number of issues of concern to the industry, including permit turnaround time and police escorts.Finally the delegation met with Colorado Department of Transportation officials for discussions that focused on weight issues related to dual lane trailers and trunnions.www.scranet.comlast_img

admin

Harren & Partner strikes SAL deal

first_imgSpeaking about a deal that had been much rumoured in the market place for some time, Martin Harren, managing director of Harren & Partner said: “We believe that this acquisition will ensure that both SAL and Harren & Partner are very well positioned for the future. In becoming the new dominant player in the super heavy lift market, we believe this will add strength to SAL and bring with it some much needed pricing discipline.”The value of the transaction has not been disclosed, although industry analysts suggest it will be nowhere near the price the “K” Line paid.SAL will remain a separate brand with its headquarters in Hamburg. Its fleet of 15 heavy lift vessels will continue to operate under the SAL banner, 12 of which have lifting capacities in excess of 900 tonnes.Harren & Partner – which also owns Combi Lift – and SAL will operate a fleet of 26 heavy lift ships, including multipurpose vessels with a lifting capacity up to 300 tonnes, dock ships, and offshore construction vessels with DP2 and a combined crane capacity of up to 2,000 tonnes.SAL will also manage the CL 900/Type 116 lo-lo vessels, as well as the Combi Dock I and III semi-submersible heavy lift ships in the future.Justin Archard, corporate commercial director of SAL, says: “This extends our scope of action to develop customised solutions that meet the toughest individual demands. This new format will help us develop even higher standards in maritime transport logistics and project engineering.”Combi Lift will update its market approach in line with the SAL acquisition.”K” Line took a 50 percent shareholding in SAL in 2007. In 2011 “K” Line exercised an option to purchase the remaining 50 percent stake and become the full owners of the line.In a statement issued by “K” Line, it said that SAL Heavy Lift has struggled since the 2008 financial crisis and the profitability of owning asset has been depressed, being heavily affected by low prices in energy markets.A spokesperson from SAL Heavy Lift said that Harren & Partner’s core business is ship management and the synergies that would be realised will enable the line to “come out even stronger”.   www.harren-partner.dewww.sal-heavylift.comwww.combi-lift.netlast_img read more

admin

SRA urged to push government for greater fining powers

first_imgSuper-regulators are demanding to see evidence that the SRA has not given up on extending its fining powers. The Legal Services Board said it will seek ‘ongoing assurance’ that the solicitors’ regulator is pursuing this goal with the Minstry of Justice. Currently the SRA can fine individuals and firms up to £2,000; cases requiring a tougher sanction must go to the Solicitors Disciplinary Tribunal. Even if the SRA had agreed an outcome for a large penalty with a firm, that still needs SDT approval. In contrast, the SRA can fine alternative business structures up to £250m. The figure was set to cover the potential scope of businesses that may apply to become an ABS. Under this regime, the SRA has recently issued its biggest ever fine, agreeing with a claims firm that sent millions of misleading letters to potential customers. In an enforcement review, published on Friday, the LSB says work is needed to ‘address inconsistencies’ in internal fining powers.  ‘Statutory orders are needed to change the SRA’s internal fining powers and we expect discussions about this to continue between the SRA and the Ministry of Justice,’ said the LSB.  The SRA has said in the past it is committed to increasing its fining powers. The LSB also states that it wants to monitor trends or changes in the timeliness of cases being progress from the SRA to the tribunal. The solicitors’ regulator must provide data twice a year to help this. The LSB notes that in the past four years, SRA case completion had reduced from an average of 120 days to 80 days, and an initial assessment now takes an average of five days, as opposed to 14 days four years ago. Overall, the oversight regulator says the SRA and the Bar Standards Board have each met their six expected outcomes for enforcement as laid out in the regulatory framework. The SRA and BSB were both required to have an accessible, transparency, consistent and clear process, taking decisions in a timely fashion and with regular reviews of decisions made. Neil Buckley Legal Services Board chief executive, said: ‘Effective enforcement functions are vital to consumer and public confidence in regulated services. We are encouraged that the BSB and SRA are committed to ongoing improvement and we will continue to monitor their progress.’ The report also noted that the SDT is likely to report by Easter to its consultation on reducing the burden of proof to a civil standard.last_img read more

admin

Vossloh variety

first_imgVOSSLOH Group’s Locomotives business unit will be exhibiting an Am843 loco built for Swiss Federal Railways, as well as a 2700 kW MaK 2000-4BB loco, designed for use at temperatures as low as -40íC.A redesigned rail fastening system for concrete sleepers will be displayed by Vossloh Fastening Systems, as well as a screwing machine for automatic fitting of clamping plates. Noise can be economically reduced with Vossloh’s rail web damping, which will be on show alongside the Skl24 clamping plate for ribbed-plate permanent way which permits the use of soft intermediate bearings. Switch Systems will be showing a swing-nose crossing for TGV Est and switches with integrated control, as well as reduced-height components for use in locations with limited headroom. The stand will feature a 50m radius tramway switch designed for quietness and wear resistance.Vossloh IT will be showing the current state of the art in electronic ink displays.last_img read more

admin

Rotary Club of Dominica declares September as New Generations Month

first_imgNews Rotary Club of Dominica declares September as New Generations Month by: – September 2, 2014 Share Sharing is caring! Tweet Sharecenter_img 153 Views   no discussions The month of September has been designated as “New Generations Month” to focus on all Rotary activities that support the development of young people up to the age of 30. New Generations refers to the youngest generation in the family of Rotary. Many are participants in Rotary’s youth and young adult programs: Interact, Rotaract, Rotary Youth Leadership Awards (RYLA), and Rotary Youth Exchange. Others are service-minded young people involved in Rotary and district activities.New Generations Service recognizes the positive change implemented by youth and young adults through leadership development activities, involvement in community and international service projects, and exchange programs that enrich and foster world peace and cultural understanding.In light of this the Rotary Club of Dominica is observing the month of September as New Generations Month with a series of activities planned throughout the Rotary year to highlight the outstanding achievements of young people in our communities and to bring awareness to the many participants in Rotary’s youth programs. Those activities include the formation of a new Rotaract Club; an Ethical Symposium focusing on Rotary’s Four Way Test and a National Literacy Quiz Competition among others.New Generations Month will be launched on Wednesday September 3rd, 2014 at 2pm, Sunset Terrace. Sharelast_img read more

admin

ECCB Governor visits Dominica

first_img Share 514 Views   2 comments Prime Minister Roosevelt Skerrit and ECCB Governor, Timothy Antoine (Photo credit: Office of the Prime Minister)Governor of the Eastern Caribbean Central Bank (ECCB), Timothy Antoine, was today, Tuesday, January 10th, 2017, welcomed to the Office of the Prime Minister by Dominica’s Prime Minister, Roosevelt Skerrit.The two leaders met briefly in the Prime Minister’s Office, following which Antoine made a presentation to the Cabinet of Ministers about the ongoing work of the ECCB.Antoine, who hails from Grenada, assumed duties as the third Governor of the Eastern Caribbean Central Bank (ECCB) on 1 February 2016. He is an economist and development practitioner by training, experience and passion. Prime Minister Roosevelt Skerrit and ECCB Governor, Timothy Antoine (Photo credit: Office of the Prime Minister)Prior to taking up that position, Antoine served as Director for Grenada on the ECCB Board of Directors for the periods: 2002 to October 2005 and January 2008 to January 2016. His twenty-two year tenure with the Government of Grenada was spent in the Ministry of Finance where he began as a Planning Officer in 1993 and rapidly moved up the ranks to Senior Economist before being appointed Permanent Secretary, serving in that position for the periods August 1999 to October 2005 and January 2008 to January 2016.The Eastern Caribbean Central Bank (ECCB) was established in October 1983. It is the Monetary Authority for a group of eight island economies namely – Anguilla, Antigua and Barbuda, Commonwealth of Dominica, Grenada, Montserrat, St Kitts and Nevis, St Lucia, and St Vincent and the Grenadines.The Agreement establishing the ECCB as the monetary authority for the eight ECCB participating governments, was signed on 5 July 1983 in Trinidad and Tobago. The ECCB was officially commissioned on 1 October 1983, replacing the Eastern Caribbean Currency Authority (ECCA) which was established in March 1965.The primary objective of the ECCB is to maintain the stability of the Eastern Caribbean Currency and the integrity of the banking system. Tweet Sharing is caring!center_img Share BusinessLocalNewsRegional ECCB Governor visits Dominica by: – January 10, 2017 Sharelast_img read more

admin

Girlfriend of Browns Griffin III Says She and QB Had Money Stolen From Teams’ Player Garage

first_imgSo you valet your car for a @Browns game and come back to all of you and your boyfriends money being gone from the wallets??— Grete Šadeiko (@GSadeiko) November 27, 2016Griffin is working his way back to being 100 percent with the Browns, and there is talk of him playing in two weeks as the team takes on the Cincinnati Bengals at home.The offseason free agent pickup has played in just one game this season, as he was injured in the season opener against the Philadelphia Eagles. Matt Loede Related TopicsBrownsGrete SadeikoRobert Griffin III CLEVELAND – It was a tough enough day for the Browns falling to 0-12 as they enter the bye week, but losing at home to the Giants wasn’t the only loss for one of the players on the team Sunday.According to ESPN, Browns quarterback Robert Griffin III was robbed of his wallet and money from his car which was parked at the Browns players’ garage at some point during Sunday’s game.Griffin’s girlfriend, Grete Sadeiko, tweeted about the incident in two different tweets sharing her displeasure over the robbery.Ain’t about why we left wallets in the car? we parked in PLAYERS AND FAMILY PARKING GARAGE! I should be able to leave anything I want there— Grete Šadeiko (@GSadeiko) November 28, 2016 Matt Loede has been a part of the Cleveland Sports Media for over 21 years, with experience covering Major League Baseball, National Basketball Association, the National Football League and even high school and college events. He has been a part of the Cleveland Indians coverage since the opening of Jacobs/Progressive Field in 1994, and spent two and a half years covering the team for 92.3 The Fan, and covers them daily for Associated Press Radio. You can follow Matt on Twitter HERE.last_img read more

admin

Hogs ruin Pinkel’s final game with Mizzou

first_imgMissouri coach Gary Pinkel is the all-time winningest coach for the Tigers — finishing 117-70 in 15 seasons at Missouri.Missouri coach Gary Pinkel is the all-time winningest coach for the Tigers — finishing 117-70 in 15 seasons at Missouri.FAYETTEVILLE, Ark. – Gary Pinkel held his tears in check this time, even doing his best to show a sense of humor following Missouri’s regular season-ending 28-3 loss to Arkansas on Friday.Losing for a sixth time in seven games wasn’t how the all-time winningest coach in school history saw his end coming.But then again, the 63-year-old Pinkel hadn’t really thought about the end until his diagnosis with lymphoma in May — something he revealed publicly earlier this month while announcing his resignation following the end of the season.Pinkel cried that day, more because of thoughts of his players than himself and his 25-year head coaching career.On Friday, in a rainy Razorback Stadium for the first time, he kept his emotions in check — joking following the loss that Missouri athletic director Mack Rhoades “wants me out tomorrow at 8 o’clock in the morning.”“Last week, I got hit pretty good,” Pinkel said. “I tried to have a little self-discipline here. I love Mizzou, and not being on the field again, I don’t really know how to embrace that.“I’ll probably get up and think I’m going to go to work tomorrow morning.”While the possibility still exists that Missouri could get a bowl invitation if enough teams don’t win the needed six games, there’s no guarantee the Tigers would even accept following a tumultuous season that included Pinkel’s pending exit and temporary player boycott.If Friday was indeed the end for Pinkel, the Kent State alumnus finishes his career as a head coach with an overall record of 191-110-3. He’s 117-70 in 15 seasons at Missouri, which includes five 10-win seasons — after the school had just one double-digit campaign in the previous 110.The Tigers struggled the second half of this season, particularly on offense. Despite the struggles, Pinkel was focused on the big picture following Friday’s loss, including the school’s back-to-back Southeastern Conference East Division titles the last two seasons and his commitment to family time in the immediate future.“I feel honored that we could build a program with integrity and a program that had a lot of success, even though the last few games we didn’t,” Pinkel said.In addition to his joke about cleaning out his office in the morning, Pinkel also showed a lighter side while talking about Arkansas coach Bret Bielema. The two have become close in Bielema’s three seasons in the SEC, and Pinkel couldn’t resist commenting on the former Wisconsin coach’s seeming never-ending supply of bravado.“He carries himself with a lot of confidence; that might be an understatement,” Pinkel said.Bielema had talked for two weeks about his respect for Pinkel, and he continued following Friday’s game.“I’m very, very appreciative of everything he’s brought the game, and I want to wish him nothing but the best as he moves forward,” Bielema said. “We’re with him in 100 percent support from us here at Arkansas.”Following a talk from Pinkel in Missouri’s somber locker room after the game, the enormity of Pinkel’s exit — and the uncertainty of the future — began to set in for the Tigers.“Hearing coach Pinkel talk about the future and knowing he won’t be a part of it, knowing I won’t be a part of it, that’s just sad,” Missouri senior safety Ian Simon said. “That’s tough to hear, but that’s life. All good things got to come to an end at some point.”last_img read more

admin