Category Archives: xqxcyjeolqqg

GasLog completes bond issuance in Norwegian market

first_imgMonaco-based LNG shipper completed the issuance of NOK750 million (approx. US$90 million) new unsecured bonds in the Norwegian market. Earlier in the week GasLog informed it is considering the bond issuance as it looks to refinance its existing bonds, maturing in June 2018.According to the statement released following the issuance on Tuesday, GasLog noted the bonds will mature in May 2021 and will have a coupon of 6.9 percent over 3 month NIBOR, and the transaction is expected to settle on June 27.Simon Crowe, GasLog CFO, speaking about the bond issuance added the company is looking to extend the maturity of half of its existing bonds and position the company for further growth as the LNG shipping markets recover.DNB Markets, Nordea Markets and SEB acted as joint lead managers and bookrunners, and Arctic Securities as co-manager in connection with the transaction, GasLog said.last_img read more

Posted in xqxcyjeolqqg | Tagged , , , , , , , , , , , | Leave a comment

ISS wins gas pipeline project

first_imgThe contract will see ISS support the construction of a USD3.2 billion deep water gas pipeline linking the Mnazi Bay gas field to Dar es Salaam.The 532 km gas pipeline, which will run from Mnazi Bay, Mtwara and Songo Song in the Kilwa District to Dar es Salaam, will supply power stations with 3,900 MW of electricity, as well as connecting commercial and domestic users in several major cities.The contract includes the agency and husbandry of specialised vessels, including a unique custom built pipe laying craft which features a 1,600-tonne crane and accommodation for 230 construction workers.The project is due for completion in December 2014.  www.iss-shipping.comlast_img read more

Posted in xqxcyjeolqqg | Tagged , , , , , , , , , , , | Leave a comment

StederDelta delivers to the Caspian

first_imgThe consignment included four large cases, which weighed 50 tonnes each and had the dimensions 5.2 m x 3.77 m x 4.13 m.StederDelta was responsible for the port handling, port agency and chartering of a sea/river coaster vessel able to traverse the Volga River system.”One of the main focuses of StederDelta Group is handling the export and transhipment cargoes from the Black Sea and Mediterranean to the Caspian Sea,” said Rory Lems, director of StederDelta.StederDelta Group is a member of the Project Cargo Network (PCN) for Romania.  www.stederdelta-group.comwww.projectcargonetwork.comlast_img read more

Posted in xqxcyjeolqqg | Tagged , , , , , , , , , , , | Leave a comment

New face of breakbulk at Rotterdam

first_imgAs HLPFI reported last week, Timmers has stepped down as business developer and business manager for breakbulk at Rotterdam after more than ten years in the role. His last day with Rotterdam Port Authority was July 29.Effective immediately, Romeijn will take over Timmers’ responsibilities and will be the point of contact for all questions regarding breakbulk shipping at the Dutch port.www.portofrotterdam.comlast_img

Posted in xqxcyjeolqqg | Tagged , , , , , , , , , , , | Leave a comment

Consolidation – should we all be doing it?

first_imgMerger activity within the UK legal profession is significant. Every week the legal press brings new stories of mergers, team defection and acquisition and firms being rescued as the cashflow requirements of the business prove to be overwhelming. The economy and “new” – more onerous – regulation for the legal profession are two reasons often cited publicly as to why smaller and medium-sized firms are joining together; a bigger, stronger beast can beat the ravages of the economic maelstrom and the regulatory regime. But are these the real and/or justifiable reasons or just a believable and convenient reason for doing something because we don’t want to be left behind? So what other reasons might there be for merger? A good reason would be client demand. Are larger more efficient firms something that clients are in fact demanding? Feedback from our own clients suggests that they want value for money, good quality service, to deal with personable and talented people who solve their problems. They don’t really mind how big the firm is – boutique firms are often very small but very valued by clients. Clients don’t buy services from the magic circle because the firms are big. They buy from them because they offer extremely high-quality services and meet their clients’ needs. From a client’s perspective in fact merger brings some risks: loss of personnel, loss of identity, conflict issues, the need to spend time on integration – i.e. a potential risk of introspection by the firm whilst it adjusts to its new journey and challenges. A merger also results inevitably in less choice for the client. The regulatory environment The economy Client demand? The economy is perhaps a more likely reason why larger firms for engaging in strategic debate around whether bigger is better. There are economies of scale – an established infrastructure can often support more revenue generation without an equivalent addition of cost which in pure formulaic terms can mean better profitability. Better profitability means more investment capacity and allows firms to keep ahead of the competition either because they can invest in making their work processes more efficient or investing in specialisms which their clients are demanding. Bigger teams may also mean that it is easier to structure a team to ensure work is done as efficiently as possible enabling firms to be confident and competitive in pricing. Clients are price-sensitive we hear. Of course they are. They always have been. Law firms are however possibly a bit less complacent about pricing sensitivities than they have historically been. Vicky Brackett is managing partner of national law firm Thomas Eggar LLP. Prior to her appointment, she was head of the Commercial Dispute Resolution Practice Group and specialises in resolving complex High Court disputes. Vicky also leads the insurance team at Thomas Eggar Conclusion There are numerous different reasons why law firms might look to merge. It is very likely to be a combination of reasons. Unfortunately it is sometimes a necessity to halt decline within a firm and those are the firms who can legitimately say that merger was necessary because of the economic conditions. Mergers done well should be for other reasons: to increase profitability and/or turnover, to add to specialisms; to develop service lines demanded by clients more quickly than organic growth will allow; to cover a new geographic region; or to operate within a new industry. What it should certainly not be is a reaction to reports and speculation in the marketplace that everyone is doing it. That fear of being left behind and not on trend can be overwhelming, however, and a distraction for those responsible for developing and leading strategy within a law firm. The mergers which happen for sound, well-thought-through strategic reasons are the mergers which have the best chances of success. They will cost money and require significant investment of management time to be effective. The effect of the recent merger activity within the profession is not yet determined but for those who have looked for a quick solution to increased overhead and falling profitability it is unlikely to pay off quickly if at all. For any firm considering merger it is important to start with a clear understanding of the needs and requirements of the business. The current market means that management teams in small and medium-sized firms are approached regularly with opportunities. It is flattering to be approached but the key is to stay true to a vision, belief and the strategic reasons for growth. It is easy to become distracted if firms lose their nerve and believe the rumours that everyone is merging and we would be unfashionable not to do the same. It cannot be denied that regulation of the legal profession requires a sensible and coherent infrastructure to be in place. Outcomes-focused regulation requires firms to self report which allegedly is more onerous than before. We should question, however, whether the changes to the regulatory framework really are so different that firms need to merge simply to cope with that demand. It is in reality perhaps one more factor that leads the smaller firms to believe that their overheads for dealing with the new requirements of the Solicitors Regulation Authority will increase beyond an acceptable level for a business of its size. For the larger firms in the market place however, the new regulatory requirements are unlikely to be a reason in themselves to push firms to consider merger.last_img read more

Posted in xqxcyjeolqqg | Tagged , , , , , , , , , , , | Leave a comment

Ex-Dewey executives acquitted on several counts

first_imgThree former executives at the defunct international firm Dewey & LeBoeuf have been acquitted by a US court of numerous charges of falsifying business accounts . After 13 days of deliberations in New York state court, the jury yesterday gave a partial verdict where they found former chair Steven Davis, former executive director Steven DiCarmine and former chief financial officer Joel Sanders not guilty on 19, 17 and 13 counts respectively.They were accused of defrauding and stealing from the firm’s lenders, investors and others by adjusting the firm’s accounts to mask its poor finances before the firm went bankrupt in 2012.However the jury remained deadlocked on the remaining charges of a scheme to defraud, grand larceny, violation of the Martin Act, and conspiracy.Michael Trotter, a partner at US firm Taylor English Duma, said: ‘It is now less likely the jury will find them guilty on the other counts. The prosecution could turn it around but I would be surprised if they did.’The verdict was given after jurors told Supreme Court justice Robert Stolz they could not reach a unanimous verdict. According to news reports Stolz has ordered the jury to resume working towards a verdict after giving them an Allen charge, which orders jurors to work harder to reach a verdict.last_img read more

Posted in xqxcyjeolqqg | Tagged , , , , , , , , , , , | Leave a comment

Wagon side bearings

first_imgW H Miner Division has introduced an improved version of its TecsPak¨ range of constant contact side bearings. They have tighter tolerances and larger wear areas giving extended lifeW H Miner Division, Geneva, Illinois, USA Reader Enquiry Number 137last_img

Posted in xqxcyjeolqqg | Tagged , , , , , , , , , , , | Leave a comment

Alvia cuts Madrid – Barcelona to 4h 15min

first_imgTHE FASTEST journey time between Madrid and Barcelona was cut to 4h 15min on May 17 when Renfe brought its fleet of 12 Class 120 EMUs into service under the Alvia brand. Equipped with CAF’s Brava system, the self-propelled trains pass through the new gauge-changing installation at Puigverd de Lleida in just over 1min, cutting 15min off the time required to perform the same operation with Talgo formations where the locomotive must be also be changed.The headline non-stop journey time between Madrid Atocha and Barcelona Sants is also made possible by two further sections of high speed line brought into service on May 17. These are a 21·2 km route avoiding Zaragoza, and a 13·1 km section by-passing Lleida.The 12 Class 120 EMUs have been supplied by CAF and Alstom for €115·5m, and eight of the 16 axles on each four-car trainset are powered. With a maximum speed of 250 km/h on 1435mm gauge and 220 km/h on 1668mm gauge, each unit seats 156 passengers in standard class and 81 in first.last_img read more

Posted in xqxcyjeolqqg | Tagged , , , , , , , , , , , | Leave a comment

Trump says meeting with Kim Jong Un likely early next year

first_imgU.S. President Donald Trump has said he will likely have a second summit with the top leader of the Democratic People’s Republic of Korea (DPRK), Kim Jong Un, in January or February, Western media outlets report.Trump made the comments aboard Air Force One on Saturday on his way back to Washington after attending the Group of 20 (G20) summit.“I think we’re going to do one fairly (soon) – into January, February, I think,” Trump is quoted as saying, adding that three sites are being considered.Trump also said that at some point he would invite Kim to the United States.Earlier on Friday, while meeting with his Republic of Korea (ROK) counterpart Moon Jae-in, Trump discussed his intention to hold a second U.S.-DPRK summit and restated a commitment to work closely with Moon on making it happen.Trump also reviewed recent developments related to the DPRK with Japanese Prime Minister Shinzo Abe the same day. They discussed how best to work with the international community, including the ROK, to continue to put pressure on the DPRK to fulfill its commitment to denuclearize.After Trump and Kim met in Singapore in June, negotiations between Washington and Pyongyang have stalled due to differences on the scale of denuclearization, continued U.S. sanctions, and whether to issue a war-ending declaration, among others.On November 7, the State Department announced that Secretary of State Mike Pompeo’s meeting with Kim Yong Chol, vice chairman of the ruling Workers’ Party of Korea Central Committee, which had been scheduled in New York for November 8, would “take place at a later date.”Trump said earlier in October that his meeting with Kim would be held after the midterm Congressional elections, and the venue of his second meeting with Kim had been narrowed down to “three or four” locations.Related African representatives at UN ask Trump to apologise over remarks No Trump meeting with Republic of Congo president -Trump spokeswomancenter_img Malaysia to release Kim Jong-nam’s body to North Korealast_img read more

Posted in xqxcyjeolqqg | Tagged , , , , , , , , , , , | Leave a comment

MPP-Dairy payments extend to fourth month

first_imgDave NatzkeEditorProgressive DairymanEmail Dave Natzkedave@progressivepublish.com May 2018’s Margin Protection Program for Dairy (MPP-Dairy) margin calculations continued a four-month string below $7 per hundredweight (cwt), meaning dairy producers who purchased coverage at the highest margin levels will receive indemnity payments for a fourth consecutive month. Milk prices up slightlyThe May U.S. average milk price improved 40 cents per cwt from April to $16.20 per cwt (Table 1). The May 2018 average was 50 cents less than May 2017. Through the first five months of 2018, the average milk price stands at $15.80 per cwt compared to $17.58 per cwt in the same period of 2017.advertisementadvertisementAmong the 23 major dairy states, May prices were up slightly in all states except Ohio, where the price was unchanged. Florida’s average of $19.60 per cwt remained the nation’s high. The low was $14.80 per cwt in New Mexico and Michigan.Compared to a year earlier, May 2018 milk prices were lower in all 23 states, led by declines in Ohio (-$1.30) and Indiana (-$1.20).Feed prices at four-year highMay 2018 U.S. average feed prices increased to $9.42 per cwt of milk sold, the highest level since 2014 (Table 2). Soybean meal and corn prices were the highest since June 2016, and the alfalfa hay price was the highest since May 2015.advertisementMPP-Dairy margin below $7 againThe national average margin was $6.78 per cwt in May. The February-May 2018 average margin is the lowest four-month average since mid 2016.It means dairy farmers who enrolled in MPP-Dairy and elected $7, $7.50 or $8 per cwt margin coverage are now guaranteed indemnity payments for a fourth consecutive month.Dairy farmers insured at the $8 per cwt margin level will receive a base payment of about $1.22 per cwt on May milk (Table 3), less the 6.6 percent sequestration deduction and any premium costs. Producers insured at the $7.50 margin level will see a base of about 72 cents per cwt; those at the $7 margin will receive about 22 cents.For example, a dairy herd with annual production history of 6.25 million pounds of milk and electing to cover 80 percent of that milk (5 million pounds) would be eligible for payment on 4,167 hundredweights (5 million pounds divided by 100 divided by 12) per month.The 4,167 hundredweights multiplied by $1.21907 per cwt would yield a payment of $5,080 for May. Subtracting the sequestration deduction of about $335, the payment drops to about $4,745. That does not include any deductions for premiums.advertisementPayments are issued directly to producers via electronic deposit; there are no paper checks. Although USDA began making MPP-Dairy payments in early June, the transfer of funds to some producers was delayed. For example, Cynthia Walters, program director with the Pennsylvania USDA Farm Service Agency, said about 300 of 2,000 Pennsylvania dairy producers who had enrolled in MPP-Dairy for 2018 had not received payments for February, March and April milk as of June 27, due to computer software problems and other issues.Dairy margins end June weakerNearby dairy margins continued to deteriorate in the second half of June, while the deferred margins held a bit steadier, according to Commodity & Ingredient Hedging LLC.Trade relations between the U.S. and China, as well as the North American Free Trade Agreement (NAFTA) partnership, continue to suffer as the early July deadlines for retaliatory tariffs are set to kick in.Mexico has elected a new leader, President-elect Andres Manuel Lopez Obrador, who will take office in December. U.S. President Donald Trump indicated his intentions to reset the NAFTA talks after the U.S. midterm elections this fall, in line with the new Mexican administration.Global Dairy Trade index dropsOverall Global Dairy Trade (GDT) dairy product prices moved 5 percent lower during the auction held July 3.Prices were lower for nearly all dairy products offered. Among major products, the cheddar cheese price was down 4.3 percent to $3,713 per metric ton (MT); butter was down 4 percent to $5,390 per MT; whole milk powder was down 7.3 percent to $2,905 per MT; and skim milk powder was down 4.6 percent to $1,913 per MTThe next GDT auction is July 17.California 4a, 4b prices announcedCalifornia’s June Class 4a price is $14.22 per cwt, up 16 cents from May, but $1.69 less than June 2017. The year-to-date 2018 average stands at $13.37 per cwt compared to $14.85 per cwt a year ago.The June 4b price is $14.43 per cwt, down 47 cents from May and $1.17 lower than June 2017. The January-June 2018 average stands at $14.05 per cwt compared to $15.12 per cwt a year ago.May cull cow prices softenU.S. cull cow prices fell for a second consecutive month in May, according to the USDA National Ag Statistics Service Ag Prices report.May 2018 cull cow prices (beef and dairy combined) averaged $66.20 per cwt, down $1.30 from April and $7.10 per cwt less than May 2017. Year to date, the cull cow price average is $66.30 per cwt, down $2.48 per cwt from January-May 2017.  last_img read more

Posted in xqxcyjeolqqg | Tagged , , , , , , , , , , , | Leave a comment