Reduced Capacity on Westbound Med-Asia Trade Could Improve Spot Rates

first_imgAfter four months of relentless falls in the headhaul spot rates, carriers are now being forced to reduce capacity on the westbound Mediterranean – Asia trade, and the cuts could lead to spot rates improving in the peak season at least, according to UK-based shipping consultant Drewry.During the first quarter, Asian exports to the Mediterranean declined by 1.8% year-on-year and in April a further drop of 9.9% was recorded.The market that has suffered most is the Black Sea – accounting for some 12% of the total trade last year – with Q1 westbound hauls sinking by 26%, Drewry says.It was the mature West Mediterranean markets that powered much of the growth in the overall westbound trade last year, but recently the fall in the value of the euro has dampened that recovery, according to Drewry.The need to restore the westbound spot rates in July is no less pressing in the Mediterranean trade than it is in North Europe, and the action to trim capacity during the third quarter by both 2M and Ocean Three, who together provide over 70% of the capacity on this route, is a clear enough signal to the market that they are intent on rectifying what has taken place in the last four months. Removing slots during what is the main peak season in the calendar is virtually without precedence, says Drewry.The earlier influx of additional capacity, which by May was registering almost 15% compared to what was provided a year ago, and which was largely due to the formation of 2M and Ocean Three, was simply too much for the headhaul trade to digest. Vessel utilisation had drifted down to the low eighties, sometimes even lower.2M will downsize the 9,500 teu tonnage deployed on its Condor/AE9 loop which calls Barcelona and Tanger Med en route to North Europe, and the substituted 6,500 teu ships will skip the Mediterranean ports.Ocean Three has cancelled the MEX1 sailing (9,000 teu vessels covering the West Mediterranean) in both weeks 28 and 31, while BEX (9,500 units serving Beirut, Turkey and the Black Sea) is withdrawn in week 30.The actions taken by the two alliances are reckoned to strip out about 7.5% surplus capacity in July, and one might assume that Ocean Three may be considering applying the same measures in August and September if demand so dictates, Drewry says.The decimation of the westbound spot rates in the last four months has been even more horrendous in the Asia-Mediterranean trade than in the North Europe market. During the pre-Chinese New Year peak season, the open market rates were hitting USD 2,600 per 40ft; towards the end of June, quotes of USD 500 could be obtained and any attempts along the way to impose the declared monthly rate increases mainly fell on deaf ears, according to Drewry.At this same point one year ago, sea freight quotes were no lower than USD 3,000. For much of 2014, spot cargo moving to the Mediterranean base ports commanded a premium of USD 500-600 over similar parcels heading for the North Continental terminals. Today, that differential has shrunk back to scarcely more than USD 100.The severe haemorrhaging of open market rates has inflicted more pain on the carriers in the Mediterranean trade because there is a lower proportion of fixed-term service contract cargo moving than in the North Europe market, Drewry says.Increases being sought with effect from July 1 range from USD 900 to USD 1,300 per teu and it is imperative that a good chunk of this sticks if the carriers’ contract customers, whose terms are over USD 1,000 per 40ft higher than the current spot rate, are not to be totally alienated.last_img read more

Vattenfall Ready for German Offshore Wind Tender with 3 Projects

first_imgVattenfall is expected to participate in the first competitive offshore wind tender in Germany with three projects. The company today welcomed the launch of German tender for 1.55GW of offshore wind capacity, saying three of its projects meet the criteria to take part in the auction currently underway.These include the Atlantis I and Global Tech II projects, which Vattenfall acquired in January of this year and in the summer of 2016, respectively. The third project is Nördlicher Grund Teil Sandbank, part of a larger Sandbank offshore wind plan that includes 64 additional turbines of which 24 have been approved.The deadline for submission of bids is 3 April and the upper limit for the compensation of offshore wind power is set at 12 Eurocents per kilowatt hour.Gunnar Groebler, Vattenfall’s Head of Business Area Wind, said that the results achieved in Denmark and the Netherlands through competitive tenders carried out last year show a clear trend of falling offshore wind costs. He pointed out that Vattenfall had set a new benchmark for cost-efficiency with the price of 4.99 Eurocents per kilowatt hour for the Danish Krieger Flak project.“Although the costs for offshore wind projects cannot be transferred with a 1: 1 ratio due to the different framework conditions for offshore wind projects in Germany, there is much evidence that the basic trend will also be introduced here,” Groebler said.Offshore WIND Stafflast_img read more

Barrister suspended for 14 months

first_imgA barrister has been suspended for 14 months for trying to conceal from his chambers that he had taken on public access work without being authorised to do so. Dominic Brazil had claimed he was acting pro bono in family cases.last_img

Landbridge planning moves ahead

first_imgINTRO: A tri-national commission is finalising plans for the Trans-Asian rail link between Uzbekistan, Kyrgyzstan and China, with the aim of signing a formal accord later this year and starting construction by 2005. Sergey Krivoruchko reviews the state of progress and the economic prospects for the new corridorGROWING COMPETITION between rail, road and sea corridors linking Europe and the countries of the Pacific Rim is driving down tariffs and stimulating international trade. This development is of considerable importance for the landlocked countries in Central Asia, as they seek to improve their transport links to the wider world. In particular, the changing economic and geopolitical situation in recent years has encouraged several countries to look at ways of creating shorter transit routes between Europe and Asia. Following independence in 1991, Kyrgyzstan recognised that it was well-placed geographically to share in this strategic development, but would need to improve its transport infrastructure to do so. As a result, the State Directorate on New Railroad Construction was formed in January 1998 as a subsidiary of the Ministry of Transport & Communication to develop and implement an effective policy on transit freight. A critical element in this programme is the planned rail link between China, Kyrgyzstan and Uzbekistan, which will complete a new southern railway corridor between China, Central Asia, the Middle East and southern Europe (RG 4.01 p223).A key step towards the creation of this southern landbridge came in 1996-99, with the construction of the 974 km South Xinjian railway from Korla to Kashi, as part of the Chinese government’s policy to open up Western China (RG 5.02 p251). Development of the transport infrastructure is one of China’s current national priorities. The government has stated its intention to turn Xinjian into an international trading hub for the Central Asian region. As part of this goal the aim is to open up two or three new cross-border corridors, of which the rail route through Kyrgyzstan is a top priority.The former Chinese Prime Minister Zhu Rongji said in June 2001 that a new southern trans-Asian corridor would be of significant importance for many countries in Europe and Asia. Over time, he believed, both the northern and southern routes would become ’multimodal transcontinental corridors’ encompassing rail, road and air routes, pipelines and trunk telecommunication links. This would be driven by the current tendency towards economic globalisation and regional co-operation, he explained.Choosing the best routeIn 1997 the governments of China, Kyrgyzstan and Uzbekistan set up a trinational working party to review options for a rail link. Early research indicated that the line would be economically viable, and the experts then turned their attention to finding the optimum alignment.In the east, the obvious starting point was Kashi, which since 1999 has been connected by rail to the cities of central China and various ports on the Pacific Ocean. But from here there were a number of alternatives, based on the two principal Silk Road passes across the Tien Shan mountain range at Torugart and Irkeshtam.Within Kyrgyzstan, an early priority for SDNRC was to identify the most appropriate route for the corridor. This was mainly influenced by the location of the country’s existing rail links and the potential markets that these could serve.The northern line runs from Lugovoi in Kazakhstan to the Kyrgyz capital at Bishkek and the town of Balykychy, which lies on Lake Issyk-Kul. In the southwest, a line from Andizhan in Uzbekistan runs to Kara-Suu in Kyrgyzstan, where it splits into branches running northeast to Jalal-Abad and south to Osh.The northern route provides the shortest link from Kyrgyzstan to Moscow and northern Europe. From Andizhan there is easy access through Turkmenistan to the Caucasus region and thence to central and southern Europe, or via Turkmenistan to Iran, the Middle East and the ports on the Persian Gulf. A team of Kyrgyz experts scrutinised eight possible route options, which were discussed at four sessions of the international joint working party in 1999-2001. Their work included field surveys and site visits for each of the proposed routes, to give a visual appreciation of the challenges. SDNRC also commissioned feasibility studies from local and foreign consultancies (RG 8.00 p485).Based on this research and the joint consultations, it was agreed that the most practical route was from the Andizhan line at Kara-Suu or Jalal-Abad to Kashi via the Torugart pass. The various options within this corridor were then further refined by further field surveys and technical studies. These were partially funded by the European Union through the Tacis and Traceca programmes, as part of the EU’s strategy to develop transport and communications networks in the CIS countries. The preferred alignment runs from Jalal-Abad (Kara-Suu) along the Yassy river valley. It then tunnels through the Ferghana range to reach the the Arpa river valley, which it follows south past Lake Chatyr-Kul to reach a tunnel under the Torugart-Tau range, at an altitude of around 3750m above sea level. The length of this route on Kyrgyz territory is 274 km. It offers a ruling gradient of 2%, compared with 3% which would be needed on the other routes. The shorter distance offers savings in both construction and operating costs, with fewer stations and passing tracks required. Following the river valleys will reduce the scale of earthworks and the number of major civil engineering structures. A second route would use the same alignment from Torugart along the Arpa valley but then turn northeast through Kara-Keche to Balykychy. This would carry traffic for Kazakhstan and the Russian Federation. Another potential advantage of this route was that MOTC had already started work on a railway from Balykchy to Kara-Keche, for which Japan’s Sumitomo Corp had commissioned studies. A detailed engineering design was prepared for the northernmost 64 km section to Kochkor, and some civil works were started, but construction was suspended for lack of finance.Total construction on Kyrgyz territory would amount to 634 km:last_img read more

Sweden drops rape investigation into WikiLeaks founder Julian Assange

first_imgSweden Drops Rape Investigation Into Wikileaks Founder Julian AssangeSweden’s top prosecutor says she’s dropping an investigation into a rape claim against WikiLeaks founder Julian Assange.The decision was taken after prosecutors concluded that “at this point, all possibilities to conduct the investigation are exhausted”, Sweden’s director of public prosecutions, Marianne Ny, said on Friday, the Guardian reports.The case has dragged on almost seven years. It means the outspoken WikiLeaks leader no longer faces sex crime allegations in Sweden.Although British police say he’s still wanted in England for jumping bail in 2012,  It’s not clear if that will change now that the Swedish charges have been dropped.Assange has been living in the Ecuadorean Embassy in London for nearly five years. He’s worried he may face indictment in the United States for his role in WikiLeaks’ disclosure of classified information.last_img read more

Activity sheets to bring the outdoors in for youngsters

first_imgSarah Price, design manager for FLS, said;“With so many people working from home and children not going to school, family life under COVID lockdown is a bit hectic for many people.“But young imaginations still need feeding, arty hands need things to do and energy needs to be burned off, so we thought we’d help by providing some resources that – with the addition of some crayons and pencils – should keep younger children busy for a while.“Our activity sheets are a fun way for younger children to be creative and to learn and, by helping them to focus on the natural environment, are also a great way to bring nature’s calming and relaxing influence in to the living room.“We hope to be able to add new sheets regularly so that there will be new challenges and activities to look forward to.”The sheets can be found in the Kids Activities section under ‘Learn’, listed at the top of the home page. AddThis Sharing ButtonsShare to FacebookFacebookFacebookShare to TwitterTwitterTwitterShare to LinkedInLinkedInLinkedInIf you are running out of ideas to keep younger children occupied during lockdown, then Forestry and Land Scotland may have something that could help.FLS has created a series of activity sheets for younger children that will help to keep them entertained – and away from a screen – for a while.As well as some nature themed colouring sheets, they can also puzzle their way through a bee maze or, for older children, tackle a woodland related word search.last_img read more

MACOM Reports Decrease in Revenue for Q2 2019

first_imgMACOM has reported a comparatively below-par financial result for the fiscal second quarter that ended March 29, 2019. The company recorded a revenue of $128.5 million, a decrease of 14.6% compared to $150.4 million in the previous year fiscal second quarter and a decrease of 14.7% compared to $150.7 million in the prior fiscal quarter. Update: Stocks on MACOM Jumped by 9% in 1 Day.Speaking on the release of the report, John Croteau, the President and CEO of MACOM, accepted that the fiscal Q2 was a challenging quarter as the magnitude of the Data Center inventory correction had been deeper and more disruptive than the company originally anticipated. However, according to John, some customers are indicating they will be exiting the quarter at more normalized inventory levels, which is a leading indicator of a recovery in the second half of the year. Despite the temporary, albeit precipitous market correction in Data Centers, the fundamental demand drivers for each of MACOM’s growth opportunities remain intact with several potentially coming to fruition simultaneously.John believes, MACOM’s recently announced joint venture with Goertek is a great example of a proactive solution to the challenge of seizing these windows of opportunity with a prudent OpEx model. The JV places the company in an even better position for success in 5G basestations, while defraying operating expenses, and at the same time, retaining substantial earnings power for the shareholders.Here are the highlights from Second Quarter Fiscal Year 2019 GAAP ResultsRevenue was $128.5 million, a decrease of 14.6% compared to $150.4 million in the previous year fiscal second quarter and a decrease of 14.7% compared to $150.7 million in the prior fiscal quarterGross profit was $57.3 million, a decrease of 12.6% compared to $65.6 million in the previous year fiscal second quarter and a decrease of 25.2% compared to $76.6 million in the prior fiscal quarterGross margin was 44.6%, compared to 43.6% in the previous year fiscal second quarter and 50.8% in the prior fiscal quarterOperating loss was $30.2 million, compared to a loss of $23.4 million in the previous year fiscal second quarter and a loss of $14.4 million in the prior fiscal quarterNet loss from continuing operations was $46.2 million, or $0.71 loss per diluted share, compared to net loss of $15.5 million, or $0.50 loss per diluted share, in the previous year fiscal second quarter and net loss of $23.4 million, or $0.44 loss per diluted share, in the prior fiscal quarterHighlights from the Second Quarter Fiscal Year 2019 Adjusted Non-GAAP ResultsAdjusted revenue, which excludes $7.0 million of revenue that was previously included as adjusted revenue in the fiscal third quarter of 2018, was $121.5 million, a decrease of 19.2% compared to $150.4 million in the previous year fiscal second quarter and a decrease of 19.4% compared to $150.7 million in the prior fiscal quarterAdjusted gross margin was 48.7%, compared to 51.6% in the previous year fiscal second quarter and 56.3% in the prior fiscal quarterAdjusted operating loss was $4.2 million, or 3.4% of revenue, compared to adjusted operating income of $15.7 million, or 10.5% of revenue, in the previous year fiscal second quarter and adjusted operating income of $21.9 million, or 14.5% of revenue, in the prior fiscal quarterAdjusted net loss was $11.6 million, or $0.18 loss per diluted share, compared to adjusted net income of $8.5 million, or $0.13 per diluted share, in the previous year fiscal second quarter and adjusted net income of $12.9 million, or $0.20 per diluted share, in the prior fiscal quarterAdjusted EBITDA was $3.4 million, compared to $23.4 million for the previous year fiscal second quarter and $29.5 million for the prior fiscal quarterFor the fiscal third quarter ending June 28, 2019, MACOM expects revenue to be in the range of $120 million to $124 million. Adjusted gross margin is expected to be between 53% and 55%, and adjusted loss per share is expected to be between $(0.08) and $(0.04) on an anticipated 66.5 million fully diluted shares outstanding.last_img read more

Is This the 2020 Honda CBR300RR?

first_imgHonda currently has the CBR250RR but only for Japan, Indonesia, Thailand and Hong Kong. A rendered photo of the 2020 Honda CBR300RR is making waves. The manufacturer is missing as a lightweight worldwide contender.center_img The rendered photo of what purports to be the 2020 Honda CBR300RR is making waves in social media.If it rumours are true, the CBR300RR will see Honda putting in a serious fight in the lightweight sportbike category. Of the Big Four Japanese manufacturers, only Yamaha and Kawasaki are duking it out while the other two namely Honda and Suzuki seem contend to spectate from the sidelines.Honda does have the CBR250RR which they dubbed “Lightweight Super Sports Concept” and was unveiled in 2015. However, the Big Red decided to sell the bike only in Japan, Indonesia, Thailand and Hong Kong when the bike made production in 2017.Malaysians have been crying out for crying out for the CBR250RR since, but it looks like a no-show in our market, possibly due to being too expensive to make an impact.Still, if the little CBR goes to 300cc, that’ll put it in contention with the Yamaha YZF-R3 and Kawasaki Ninja 400. The current CBR250RR’s engine produces 38 hp so it should be upped to the mid-40’s should the 300 go ahead.MV Agusta had also partnered with Chinese manufacturer, Loncin, to produce sub-500cc motorcycles for the Chinese and Asian market.Honda meanwhile, is missing a lightweight contender.–Ads–last_img read more

Titles

first_img TEAM TITLES (73)1986-87 (3)West Florida Match Play ChampionshipMobile InvitationalSouthern Junior-Senior Collegiate1987-88 (3)West Florida Match Play ChampionshipMobile InvitationalSouth Alabama Invitational1989-90 (1)NAIA District 271990-91 (2)Palm Coast IntercollegiatePJC Invitational1992-93 (1)NAIA District 271993-94 (3)Spring Hill Fall InvitationalRam IntercollegiateSouthern Junior-Senior Collegiate1994-95 (5)Grenelefe InvitationalRome News-Tribune IntercollegiateSouthern Junior-Senior CollegiateMobile Bay ClassicGSC Championships1996-97 (3)Triton InvitationalWest Florida IntercollegiateGSC Championships1997-98 (2)GSC ChampionshipsEmerald Coast Collegiate1998-99 (3)Emerald Coast CollegiateFripp Island IntercollegiateAmoco Ultimate/Young Oil Intercollegiate1999-00 (5)Lynn University InvitationalRollins College InvitationalStan Sheriff InvitationalEmerald Coast CollegiateFlorida A&M Springtime2000-01 (6)Rollins College InvitationalEmerald Coast CollegiateBobcat InvitationalGSC ChampionshipsNCAA Division II South RegionalNCAA Division II National Championships2001-02 (2)Emerald Coast CollegiateGSC Championships2002-03 (3)Emerald Coast CollegiateBobcat InvitationalGSC Championships2003-04 (4)Outback IntercollegiateEmerald Coast CollegiateSoutheastern CollegiateNCAA Division II South Regional2004-05 (1)Troy University Invitational2005-06 (3)Indian Bayou ClassicSoutheastern ClassicGSC Championships2006-07 (3)GSC ChampionshipsSouthern California ChampionshipsSoutheastern Collegiate2007-08 (7)The McLaughlinArgonaut InvitationalBobcat InvitationalEmerald Coast CollegiateGSC ChampionshipsNCAA Division II South RegionalNCAA Division II National Championships2008-09 (1)State Farm Laker Collegiate2010-11 (4)The McLaughlinMatlock Collegiate ClassicArgonaut InvitationalGSC Championships2011-12 (2)The McLaughlinGeorgetown Intercollegiate2012-13 (2)Las Vegas Desert ClassicGSC Championships2013-14 (4)Arkansas State Fall Beach ClassicLas Vegas Desert ClassicArgonaut InvitationalGSC ChampionshipsINDIVIDUAL TITLES (44)1985-86 (2)Peter DysonJohn Hamorski1994-95 (4)Bill MontgomeryBill Montgomery (2)Glenn ShaneBill Montgomery (3)1995-96 (1)Frank Leo1996-97 (3)Orjan LarsenButch BundyOrjan Larsen (2)1997-98 (3)Orjan Larsen (4)Orjan Larsen (5)Frank Leo (2)1998-99 (3)Orjan Larsen (6)Orjan Larsen (7)Orjan Larsen (8)1999-00 (1)Alex Smith2000-01 (1)Stuart Manley2001-02 (2)Kevin WarrickBryan Clarke2002-03 (1)Joe Christianson2003-04 (2)Matthew BerzovichAndrea Signor2004-05 (1)Matthew Galloway2005-06 (5)Federico DamusWill GraceMatthew Galloway (2)Chris MyersBrian Lawrence2006-07 (2)Matthew Galloway (3)David Lingmerth2007-08 (6)Kyle ScottMatthew Galloway (4)Tobias RosendahlKyle Scott (2)Tobias Rosendahl (2)Kyle Scott (3)2010-11 (2)Otto BonningCarlos Rodriguez2011-12 (3)Carlos Rodriguez (2)Carlos Rodriguez (3)Carlos Rodriguez (4)2013-14 (2)Esteban CastroJuan Miguel HerediaTournamentJerry Pate National IntercollegiateSouthern Junior / Senior CollegiateTournamentRome News-Tribune IntercollegiateSouthern Junior / Senior CollegiateMobile Bay ClassicGSC ChampionshipsTournamentSoutheastern CollegiateTournamentNationsBank IntercollegiateGSC ChampionshipsKSL Fairways CollegiateTournamentGSC ChampionshipsNCAA Division II National ChampionshipsRollins College InvitationalTournamentAmoco Ultimate / Young Oil IntercollegiateGSC ChampionshipsLynn University InvitationalTournamentRollins College InvitationalTournamentGSC ChampionshipsTournamentGSC ChampionshipsNCAA Division II South RegionalTournamentHombre IntercollegiateTournamentEmerald Coast CollegiateNCAA Division II South RegionalTournamentEmerald Coast CollegiateTournamentNSU Fall ClassicNCAA Division II South RegionalGSC ChampionshipsSoutheastern CollegiateOutback Steakhouse IntercollegiateTournamentMatlock Collegiate ClassicSoutheastern CollegiateTournamentThe McLaughlinMatlock Collegiate ClassicBobcat InvitationalEmerald Coast CollegiateGSC ChampionshipsNCAA Division II South RegionalTournamentBobcat InvitationalGSC ChampionshipsTournamentThe McLaughlinUNO Mardi Gras InvitationalArgonaut InvitationalTournamentArkansas State Fall Beach ClassicGSC ChampionshipsScore70-68-77-21571-71-69-211Score75-68-71-21468-70-70-20867-74-14174-69-67-210Score72-73-145Score76-69-14574-66-14071-73-71-215Score70-72-71-21373-69-72-66-28066-74-71-211Score69-69-73-21171-73-79-22370-69-71-210Score70-71-68-209Score72-71-70-213Score70-71-71-21272-72-68-212Score72-72-144Score76-74-73-22368-70-68-206Score67-71-72-210Score73-72-70-21569-70-69-20867-73-71-21170-70-75-21575-70-145Score76-68-68-21271-68-71-210Score67-65-68-20067-73-70-21070-71-71-21266-70-70-20673-72-67-21267-70-67-204Score70-66-71-20773-70-72-215Score65-64-70-19969-71-71-21168-69-72-209Score71-69-70-21071-65-67-203 Print Friendly Version Titles Sharelast_img read more

School Board: Online Budget Talks Successful

first_imgFacebookTwitterEmailPrintFriendly分享Despite criticism from one Nikiski teacher, the Kenai Peninsula Borough School Board stands behind the recent shift to online town halls to discuss the District’s budget. Board member Sunni Hilts says the turnout in Seldovia was roughly 30 people, better than she’s seen at most Borough budget gatherings held at the central location. She says the localized gatherings allowed parents and community members to talk about issues specifically relating to their area… But teacher Jesse Bjorkman insisted the meetings should have been held in an open room where all questions and answers were shared with the entire population.center_img Hilts: “We recognize that with the declining population in our schools we get declining funding and there’s always the population of losing a school, of a school closing, and so we brainstormed about what to do about increasing the population in our community, but also how to get the best education possible with what we’ve got.”last_img read more