Liner Shipping among More Consolidated Sectors

first_imgzoom Although the container shipping sector saw a huge amount of consolidation in 2016 driven by the persistent pressure in the industry, the sector is still not that consolidated, according to Clarksons Research.On the basis of start 2017, this fairly fragmented shipping industry counted 88,892 ships in the world fleet, which were spread across 24,267 owners. That works out at less than 4 vessels per owner, although 145 owners with more than 50 ships accounted for almost 12,000 of the vessels. “The liner shipping business however is one of the more consolidated parts of shipping, as well as being home to some of the industry’s larger corporates,” Clarksons Research said.At the start of the year, the 5,154 containerships in the fleet were owned by 622 owner groups, about 8 ships per owner, but were operated by 326 carriers, about 16 ships per operator. Each of the top 8 operators deployed more than 100 ships.But despite the less fragmented nature of the sector, recent market conditions have led to another round of consolidation in the box business.The three largest operators at the start of 2017 were European Maersk Line, with 647 vessels deployed, followed by MSC with 453, and CMA-CGM with 454 ships. Of the remaining carriers in the top 20 all but three were based in Asia or the Middle East.However, out of the 20 largest carriers back in late 2014, four are now gone. CSAV was acquired by Hapag-Lloyd, NOL/APL by CMA-CGM and the two major Chinese lines merged. And of course in late summer 2016, the financial collapse of Hanjin Shipping marked the sector’s biggest casualty in 30 years.Against this backdrop, the latest wave of box sector consolidation is actually part of a long-term trend, Clarksons informed. The coming year is set to see Hapag-Lloyd complete its merger with UASC, and Maersk Line’s planned acquisition of Hamburg-Sud is also awaiting necessary approvals. The second half of last year also saw the three major Japanese operators declare their intention to merge containership operations in a joint venture due to be established this year and start operations in 2018.The ‘scenario’ based on these changes would see the top 10’s share at 79%, nearly twice as much as 20 years ago.last_img read more

DryShips Widens Loss

first_imgzoom Greek ship owner DryShips has plunged further into the red as its net and operating losses increased during the three-month period ended September 30.The company’s net loss for the three months reached USD 17.9 million, compared to a net loss of USD 5.2 million reported in the same period in 2016.While operating loss also widened to USD 6.5 million in the third quarter, compared to a loss of USD 3.7 million seen a year earlier, DryShips’ revenues surged to USD 29.9 million from USD 12.1 million year-on-year.For the nine months ended September 30, the company said that it cut its net loss to USD 44.3 million from USD 79.7 million, while its operating loss shrunk to USD 27.8 million from USD 69.9 million.The company’s revenues for the nine-month period increased to USD 58.1 million from USD 42.2 million seen in the same period a year earlier.Following the closing of the previously announced USD 100 million private placement and USD 100 million rights offering on October 25, 2017, the company’s credit facility with Sierra Investments Inc., with an outstandingbalance of approximately USD 73.8 million, was refinanced with a new loan facility secured by assets.The credit facility has a loan to value ratio of 50%, a tenor of 5 years, no amortization and a margin of LIBOR plus 4.5%, DryShips informed.last_img read more

Joe Paterno Statue Could Come Down In Next 72

Joe Paterno Statue — a statue of legendary coach Joe Paterno in front of Penn State’s Beaver Stadium — may be the next casualty in the nasty ongoing fallout of the child sex abuse scandal.The decision whether to remove or move Joe Paterno statue is expected to be made by the school president Rodney Erickson within the next three days, a source familiar with Erickson’s plans told ESPN’s “Outside the Lines.”Much of the consternation on what to do about the statue stems from how the NCAA will perceive the actions. The school is fearful of the governing body leveling the “death penalty” on the football program.Trustees said on the show that the board had a spirited discussion about the statue in a conference call Thursday night — the same call in which the resignation of former board chairman Steve Garban was discussed. But the decision is not theirs, they said.Various tweets Friday morning said the board had voted and/or made a decision about the statue and that it would be removed this weekend. If the board had taken a vote during the call, it would have violated state law, which prohibits votes from being taken outside of declared board meetings.The trustees who spoke Friday morning said board members did discuss possibilities for the statue, including moving it from the stadium area, perhaps to the library on campus that bears the Paterno name or the Penn State All Sports Museum near the stadium. Board spokesman David LaTorre declined to comment Friday morning.The trustees have been concerned this week that the NCAA will hand down an extreme punishment, possibly the death penalty for its football program for its “loss of institutional control” during the Sandusky years. Dealing with the statue issue, and the resignation of Garban, has been needed to show the public the board was serious about “moving forward,” one trustee said.“It’s a highly sensitive decision,” another trustee said Friday. “The decision is a symbolic one. We have to be very careful about what kind of message we send.” read more

Beside The Points For Monday Sept 25 2017

NFL Things That Caught My EyeTrump vs. the NFLPresident Trump spent the weekend arguing that players shouldn’t take a knee during the national anthem to protest police violence against African-Americans. Trump also urged NFL team owners to do something to stop them. Trump may be reading the results of polls showing that most Americans disapprove of the players’ protests, and believes he can take political advantage of a cultural divide. And he may be right — for now. [FiveThirtyEight]NFL shocker: Bengals score touchdownSunday the Cincinnati Bengals scored three touchdowns, which is huge news for them: In the first two games of the season they scored no touchdowns, leading to their offensive coordinator getting promptly sacked. Prior to 2017, only 23 other offenses in NFL history failed to obtain a touchdown in their first two games. [FiveThirtyEight]Carmelo to Oklahoma CityCarmelo Anthony has been traded to the Oklahoma City Thunder by the Knicks in exchange for Enes Kanter, Doug McDermott, and a 2018 second round draft pick. Oklahoma City is spending a small fortune on the acquisition indicating they think they seriously have a shot this year. [FiveThirtyEight]Not ready for prime time playersWith Washington beating Oakland and New York suffering a humiliating defeat in Philly, the Giants are down to a 4 percent chance of winning the NFC East. Isn’t ii delightful we got already got two primetime games out of New York? I root for these guys and am sick of seeing them televised nationally. The Eagles are up to a 41 percent chance of winning the inevitably contentious division, Cowboys have a 32 percent shot, and Washington’s got a 23 percent odds. Enjoy primetime, jerks! [FiveThirtyEight]Canucks vs. Kings vs. FogThe Vancouver Canucks and Los Angeles Kings played a preseason game in Shanghai, the first such NHL event held in China. Kings won 5-2, but the game was lightly attended and Shanghai humidity plus ice-based sporting events meant lots of fog in practice. Hey, they managed to jam NHL franchises in Tampa and Arizona of all places, this league will make this sport work in any climate. [The Globe and Mail]Mess with the frog you get the hornsIt’s college football upset time: Texas Christian University (ranked 12th) beat Oklahoma State (ranked 6th) 44-31 on Saturday. [ESPN]Big Number32 percentThe Jets can’t even tank right: their win Sunday means that San Francisco is now the favorite to get the number one pick in next year’s draft, roughly a one in three chance. [ESPN]Leaks from Slack[This transcript of a private conversation between NFC East rivals lightly edited to remove extensive use of profanity]neil:How on earth did the Giants find a way to not score on that drive???neil:Not even trolling…. that was crazywalt:I hate this teamwalt:Also, lol, this was the first thing I read after landing in Los Angelesneil:Eagles both had no business winning and had no business losingneil:Today was just a weird day. Jags crush the Ravens at 9AM in London, go figure that one outThen Browns almost win in a huge comeback on the road, Pats almost lose at home to TexansEagles win on the 4th longest game winning/tying FG everWeirdest of all, Bengals actually score a TDPredictions MLB See more NFL predictions Oh, and don’t forgetNeutral zone infraction, #45, offense See more MLB predictions We’re launching a sports newsletter. 🏆  Join the squad. Subscribe All newsletters read more

Captured Tony Maycock for attempted murder

first_img Related Items:#magneticmedianews ALERT # 2 ON POTENTIAL TROPICAL CYCLONE NINE ISSUED BY THE BAHAMAS DEPARTMENT OF METEOROLOGY THURSDAY 12TH SEPTEMBER, 2019 AT 9 PM EDT Electricity Cost of Service Study among the big agenda items at September 11 Cabinet meeting The Luxury of Grace Bay in Down Town Provo Recommended for you Facebook Twitter Google+LinkedInPinterestWhatsApp Facebook Twitter Google+LinkedInPinterestWhatsAppNassau, Bahamas, February 20, 2017 – Wanted man, Tony Austin Maycock was arrested without incident on Sunday say Police, at his Windsor Lane home in Nassau; Maycock, 44, is wanted in connection with an attempted murder case.#MagneticMediaNewslast_img

Owners of San Diego UnionTribune considered selling to healthcare billionaire Patrick SoonShiong

first_img Categories: Local San Diego News Tags: San Diego Union-Tribune FacebookTwitter KUSI Newsroom Updated: 3:27 PM Posted: February 6, 2018 February 6, 2018center_img SAN DIEGO (KUSI) — The San Diego Union-Tribune could soon have a new owner, with a report Tuesday that Chicago-based Tronc plans to sell the paper to health-care billionaire Patrick Soon-Shiong.Citing people familiar with the plan, The Washington Post reported that Tronc is working to sell Soon-Shiong the paper it has owned since 2015 as part of a broader deal that will include the sale of the Los Angeles Times. Tronc, previously known as Tribune Co., purchased The Times in 2000.The Times’ newsroom has been in turmoil in recent weeks. A new editor, Jim Kirk, was named in late January following rising concern by staffers over the direction of newsroom management and concerns about the blurring of the line between the news and business departments. Kirk replaced Lewis D’Vorkin, who was moved to the position of chief content for digital and mobile customers.The paper’s publisher, Ross Levinsohn, was placed on unpaid leave following revelations he was a defendant in two sexual harassment suits while working at other companies prior to joining The Times.Most notably, newsroom staffers voted overwhelmingly last month to unionize for the first time in the paper’s 136-year history.Soon-Shiong is the founder and CEO of Culver City-based NantHealth. A representative for Soon-Shiong told The Post he was traveling and unavailable for comment on the report. Owners of San Diego Union-Tribune considered selling to health-care billionaire Patrick Soon-Shiong KUSI Newsroom, last_img read more

Dave Scotts World of Wonder Migration

first_img KUSI Newsroom May 18, 2019 Categories: Dave’s World Of Wonder, Local San Diego News FacebookTwitter KUSI Newsroom, Posted: May 18, 2019 Dave Scott’s World of Wonder – Migration 00:00 00:00 spaceplay / pause qunload | stop ffullscreenshift + ←→slower / faster ↑↓volume mmute ←→seek  . seek to previous 12… 6 seek to 10%, 20% … 60% XColor SettingsAaAaAaAaTextBackgroundOpacity SettingsTextOpaqueSemi-TransparentBackgroundSemi-TransparentOpaqueTransparentFont SettingsSize||TypeSerif MonospaceSerifSans Serif MonospaceSans SerifCasualCursiveSmallCapsResetSave SettingsSAN DIEGO (KUSI) Dave Scott takes a deeper look into migration in his World of Wonder last_img read more