News / Charter market recovery too late to save Rickmers Maritime Trust

first_img The recent recovery in the containership charter market has come too late to save panamax shipowner Rickmers Maritime Trust (RMT).The company has announced that it will be wound up.Singapore-headquartered RMT owned a fleet of 14 containerships of 3,450-5,060 teu, five of which are on long-term charter to Japanese carrier MOL, five are on the spot market and four in lay-up.RMT today said it was “disappointed to have to announce that, after much effort placed on achieving a consensual restructuring among creditors, potential investors have not supported an injection of new equity”.It continued: “In light of the aggravated illiquidity and lack of new investors, the trustee-manager opines that it is impractical to continue the trust and that it shall therefore be wound up.”It expected the operations of its vessels on time-charters would “remain unaffected”, with RMT continuing to meet its charter party obligations.RMT posted a 2016 net loss of $180m, with charter revenue sinking to just $69m as the panamax containership sector hit the buffers with daily hire rates, for ships that could be fixed, anchored at well below operating costs.Notwithstanding chronic overcapacity in the industry, the opening of the enlarged Panama Canal last June was especially blamed for a large surplus of 3,000-5,000 teu vessels, previously the workhorses of the waterway.Rock-bottom hire rates also saw the value of panamax vessels plummet. According to VesselsValue, the RMT fleet is now worth just $89m – equal to the scrap value of the ships – compared with around $200m a year ago.However, RMT has mortgage and loan note debt of some $300m. Its default on loan repayments, as well as breaches of loan covenants, was the basis of its fruitless attempt to restructure its debt.RMT said it was in “advanced discussions with a potential buyer” for its assets, which may allow it to “distribute cash recoveries” to unsecured creditors – although it added that so far no deal had been finalised.The five ships leased to MOL are at a daily rate of $26,850, with a remaining period of 12 to 24 months.It warned that unitholders were “highly unlikely to recover any of their investments”.Ironically, RMT is calling time just as the charter market is enjoying a strong rally from the hitherto record lows. According to Alphaliner data, panamax vessels that were lucky to obtain $4,000 a day only a few months ago, with ships being ballasted to their charters, are now commanding rates of $11,000-plus, with options and terms being dictated by owners.In fact, one broker told The Loadstar that, in just the last month, daily hire rates for panamax vessels had leaped by over 25%. He said the availability of spot tonnage was now “very tight” in the sector, with owners now scrambling to reactivate ships from cold lay-up.“RMT made some bad decisions concentrating on the panamax sector,” he said, but added that the shipowner was “unlucky not to be able to survive long enough to benefit from the recovery”. By Mike Wackett 12/04/2017last_img read more

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News / Zim invests in Wave BL blockchain tech in drive for paperless shipping

first_img Israel’s Zim and one of the country’s leading investors, Marius Nacht, have together pumped $8m into blockchain developer Wave BL in a series B fundraising.The investment will be used to “accelerate global implementation of Wave BL’s proven technology”, which uses blockchain to produce electronic bills of lading.Zim issued its first paperless e-B/L in 2017, using Wave BL’s platform, and has since widely expanded its use to shippers globally.Chief information officer Eyal Ben-Amram said: “Since completing the integration of Wave BL’s platform with our system, we can offer every customer the ability to enjoy the vast benefits of paperless shipping, which is especially crucial during Covid-19.”Ophir Shoham, who leads Marius Nacht’s investments in hi-tech, added: “We are proud to continue supporting Wave BL’s remarkable technology and believe in its disruptive potential, leading to a fundamental change in the way business is conducted across countless sectors and industries.“We are very impressed with the great progress the team has made.”Wave BL is a blockchain-based digital courier platform that mirrors the traditional process for transferring original paper documents electronically, and enables instant, encrypted and authenticated transfer of unique digital documents. From left: Wave CEO Gadi Ruschin, Zim CEO Eli Glickman and Marius Nacht’s Ophir Shoham By Gavin van Marle 16/03/2021last_img read more

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How coconut oil got a reputation for being healthy in the first place

first_imgLeave this field empty if you’re human: But, Willett noted, alternatives such as olive oil and soybean oil, which are mainly unsaturated fat, both lower LDL and increase HDL — making them a clearly healthier choice for cholesterol overall.For those wondering what to cook with, St-Onge suggests healthier options supported by the scientific literature.“The state of the science right now supports mono-unsaturated fats and poly-unsaturated fats — vegetable oil, olive oil, corn oil — as being healthy options,” she said. Newsletters Sign up for Daily Recap A roundup of STAT’s top stories of the day. Related: So how did that healthy reputation come to be? The answer traces back in part to the work of Marie-Pierre St-Onge, a professor of nutrition at Columbia University. Two papers published by St-Onge’s group in 2003 showed that eating and cooking with medium chain fatty acids — a type of molecule found in coconut oil — can help dieting adults burn fat. Study participants ate specially prepared meals rich in medium chain fatty acids for four weeks. MRI and metabolic data showed that medium chain fatty acids reduced their overall fat levels and helped dieters burn energy. Butter doesn’t increase risk of heart disease after all By Jonathan Wosen June 20, 2017 Reprints Please enter a valid email address. HealthHow coconut oil got a reputation for being healthy in the first place But, St-Onge points out, coconut oil is only 14 percent medium chain fatty acids. Participants in her studies received 100 percent medium chain fatty acids, a custom-made concoction.advertisement Privacy Policy Still, in subsequent years that research has been seized upon by health food marketers. Dieting blogs praise coconut oil as a “fat-burning diet miracle” and dietary supplements containing the oil advertise their supposed weight-loss benefits on the label.“I think the data that we’ve shown with medium chain fatty acids have been extrapolated very liberally,” said St-Onge. “I’ve never done one study on coconut oil.”Cholesterol conflictAnother aura of healthfulness around the oil is in boosting “good” cholesterol. Some studies have found that people who eat more coconut in general have higher healthy HDL cholesterol.“Fat in the diet, whether it’s saturated or unsaturated, tends to nudge HDL levels up, but coconut oil seems to be especially potent at doing so,” Harvard nutrition professor Dr. Walter C. Willett wrote in a blog post on the subject. Janice Newell Bissex & LIz Weiss/Creative Commons The news rocketed around the internet last week under headlines declaring “Coconut oil is not a magical health food after all,” “Coconut oil ‘as unhealthy as beef fat and butter,’” and “Careful: Coconut oil may not be safe.”Behind the furor was an innocuous American Heart Association report reviewing the health harms of saturated fats and urging Americans to eat less of them. But the finding that seemed to come as the biggest surprise to the public was the inclusion of coconut oil on the list of the most egregiously unhealthy fats. Coconut oil has more saturated fat than butter or lard, the report pointed out, and studies have shown it increases unhealthy LDL cholesterol.But those facts have been known for years — and still, a survey conducted last year by the polling firm Morning Consult found, 7 out of every 10 Americans consider coconut oil a healthy food.advertisementlast_img read more

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Vast majority of air cargo companies are unprepared to transport Covid-19 vaccines

first_img About the Author Reprints By Ed Silverman Oct. 15, 2020 Reprints Tags pharmaceuticalsSTAT+Vaccines Unlock this article by subscribing to STAT+ and enjoy your first 30 days free! GET STARTED Ed Silverman [email protected] Log In | Learn More VINCENZO PINTO/AFP via Getty Images What’s included? @Pharmalot center_img Daily reporting and analysis The most comprehensive industry coverage from a powerhouse team of reporters Subscriber-only newsletters Daily newsletters to brief you on the most important industry news of the day STAT+ Conversations Weekly opportunities to engage with our reporters and leading industry experts in live video conversations Exclusive industry events Premium access to subscriber-only networking events around the country The best reporters in the industry The most trusted and well-connected newsroom in the health care industry And much more Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr. As much of the world focuses on vaccine development to alleviate the pandemic, a new survey finds that just 28% of the air cargo companies that will play the highly crucial, behind-the-scenes role of transporting Covid-19 vaccines far and wide feel prepared for the job.At the same time, 19% of these companies report that they feel “very unprepared.” And only 54% of airfreight providers currently have some of the necessary equipment for handling vaccines, according to the survey, which was conducted by the International Air Cargo Association and Pharma.Aero, an organization of air cargo carriers that specialize in shipping pharmaceuticals. STAT+ is STAT’s premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond. Pharmalot Pharmalot Columnist, Senior Writer Ed covers the pharmaceutical industry. GET STARTED Vast majority of air cargo companies are unprepared to transport Covid-19 vaccines What is it?last_img read more

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Laois U-15 footballers gunning for glory in prestigious Adam Mangan Cup

first_img GAA Here are all of Wednesday’s Laois GAA results Facebook Twitter Twitter Pinterest WhatsApp The Laois U-15 football squad will face Kerry in the Adam Mangan Cup final in O’Connor Park, Tullamore on Saturday at 2pm.The Adam Mangan Cup, is a highly regarded competition that features some of the top teams in the country.This year saw a change in the format from other years.Previously, the competition was ran in a blitz-like format whereas this year a group stage was introduced.Laois were pitted against Cavan, Offaly and Galway in Group 1. Laois finished top of their group having won all three games well.They defeated both Offaly and Cavan in Portlaoise before making an away trip to Galway and winning there too.This set up an exciting semi-final clash with Cork, who were coached by All-Ireland 2010 football winning manager Conor Counihan.The Laois lads played superbly and the game was nip and tuck throughout. The Laois lads winning by a single point, 2-10 to 2-9.They’ll be hoping they can capture the Adam Mangan Cup and return to Laois with some silverware after such a fine year for these young lads.Best of luck lads!LAOIS U-15 PANEL: Aaron Dorgan (Graiguecullen), Conor Harte (Graiguecullen), Jack Byrne (Graiguecullen), Sean McGrath (Graiguecullen), Mikee Horohan (Graiguecullen), Scott Roycroft (Graiguecullen), Jamie Murphy (Graiguecullen), John O Se (Graiguecullen), Sean Brennan (St Josephs), Cormac Murphy (St Josephs), Arthur Dunne (St Josephs), Cale Brennan (St Josephs), Dylan Keyes (The Heath), Jack Ahern (The Heath), Darragh Lewis (The Heath), Kieran O’Donnell (Portlaoise), Richard Whelan (Portlaoise), Barry Fitzpatrick (Portlaoise), Lee Smith (Portlaoise), Colin McEvoy (Portlaoise), Jack Gorman (Mountmellick), Cian Rafter (Mountmellick), Cathal Lee (Clonaslee), Ben McMahon (O’Dempsey’s), Ben O’Dea (Ballyroan-Abbey), Darragh Slevin (Portarlington), Cian Nolan (Park-Ratheniska), Liam Kehoe (Park-Ratheniska), Ryan Quinlan (Park-Ratheniska), Ciaran Culleton (Ballyfin), Aodhan Lowry (Arles-Kilcruise), Jamie Conway (Arles-Kilcruise), Jonah Kelly (Crettyard), Kodi Dunne (Barrowhouse), Darragh Kealy (Arles-Kilcruise), Harry Bradbury (Barrowhouse), Fergus Langton (Barrowhouse), Jimmy Hyland (Rosenallis), Conor Fitzpatrick (Timahoe), Oisin Ramsbottom (Timahoe), Finn Maher (Stradbally), Jesse Mc Evoy (Ballylinan), Daniel McGrath (Killeshin)Management Team: Mark Bates, Alan Abbey, Paddy Travers and Jon FitzpatrickSEE ALSO- Ahead of the All Ireland hurling final we’ve picked out 10 Tipperary people who have made a massive impact on the world GAA TAGSadam mangan cupLaois U-15 Footballers Laois U-15 footballers gunning for glory in prestigious Adam Mangan Cup Home Sport GAA Laois U-15 footballers gunning for glory in prestigious Adam Mangan Cup SportGAAGaelic Football Kelly and Farrell lead the way as St Joseph’s claim 2020 U-15 glory WhatsApp RELATED ARTICLESMORE FROM AUTHOR Pinterest Facebook GAA By Gavin Cooper – 17th August 2019 Previous articleMiller sisters set to clash as Leinster meet Connacht in Interprovincial ChampionshipNext articleIn Pictures: Laois production company set to dazzle with new show Gavin Cooper 2020 U-15 ‘B’ glory for Ballyroan-Abbey following six point win over Killeshinlast_img read more

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Contractors Putting Finishing Touches on Road Projects in St. Elizabeth

first_imgRelatedContractors Putting Finishing Touches on Road Projects in St. Elizabeth RelatedContractors Putting Finishing Touches on Road Projects in St. Elizabeth FacebookTwitterWhatsAppEmail Contractors are putting finishing touches on two road projects in the parish of St. Elizabeth, which were approved by Cabinet last April.The projects, which comprise improvements to the Accompong and Askenish roads in St. Elizabeth, are being funded by the Jamaica Social Investment Fund (JSIF) in the sum of $34 million.Communications Officer at JSIF, Latoya Halstead, told the JIS News that contractor, Garan-Tee Construction Company Limited, which is doing the improvement work on the Accompong Road, is “doing some concrete work now, but should be finished by the end of May.”The $15 million works contract covers the rehabilitation of three kilometres of roadway and will improve conditions for the entire community, including taxi operators, children, the elderly, farmers, and tourists.Meanwhile, she said upgrading of the 3.5-kilometre Askenish Road “should be finished by the end of April.” The project is being undertaken by Contraxx Enterprises Limited at a cost of $19.4 million. Contractors Putting Finishing Touches on Road Projects in St. Elizabeth UncategorizedApril 25, 2007center_img Advertisements RelatedContractors Putting Finishing Touches on Road Projects in St. Elizabethlast_img read more

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Crews ready for Launceston to Hobart

first_imgCrews ready for Launceston to Hobart Sarah Courtney,Minister for Small Business, Hospitality and EventsTasmania is home to some of the best sailing in the world, and this proud tradition continues with tomorrow’s Launceston to Hobart Yacht Race (L2H).This year’s L2H is the 14th edition of the 285 nautical mile race which trails around the North East and East Coast of Tasmania.The L2H competition is expected to be fierce again this year, with the race featuring some of Tasmania’s best local sailors and yachts.Overall, there are 31 boats competing and more than 100 sailors taking part.Tasmanians love nothing more than getting out and enjoying the best that our spectacular waterways have to offer – whether that is on a boat, in the water, or by dropping a line.Yacht races over the Christmas and New Years period are a huge part of the Tasmanian way of life, so it is fantastic to see the L2H going ahead and I thank the local yacht clubs and organising committee for their hard work to make it happen.Tasmania is fortunate to have a number of events taking place over the holidays this year, including the L2H, and I encourage all Tasmanians to get out and about, support your local businesses, and explore what our State has to offer.Importantly, L2H race organisers have put a COVID Safety Plan in place to ensure a safe event for competitors and those supporting the race.You can follow the race online at www.l2h-dssinc.org.au. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:AusPol, Australia, boat, business, Government, Hobart, Internet, Launceston, love, Minister, online, race, Safety, Small Business, TAS, Tasmania, Tassie, Water, world, yachtlast_img read more

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Sommelier Saturday Vineyard Strolls at Dutton-Goldfield Winery

first_imgReddIt TAGSConsumerDutton-Goldfield Home Industry News Releases Sommelier Saturday Vineyard Strolls at Dutton-Goldfield WineryIndustry News ReleasesWine BusinessSommelier Saturday Vineyard Strolls at Dutton-Goldfield WineryBy Press Release – May 10, 2016 15 0 Facebook Email Pinterest Previous articleAfternoon Brief, May 10Next articleAfternoon Brief, May 11 Press Release AdvertisementSebastopol, California, May 9, 2016 – Dutton-Goldfield Winery proudly announces our Sommelier Saturday Vineyard Stroll schedule for 2016. Due to popular demand, we’re expanding our event with additional dates this summer, holding six vineyard strolls at our picturesque and historic Green Valley vineyard site: June 11, July 23, August 13, August 27, September 10 and September 24. Each of the experiences are held from 10am to 12pm, and are available by advance reservation only.The Vineyard Stroll is led by Dutton-Goldfield’s sommelier, Nicole Kosta, and includes an intimate and educational walking tour of our vineyard, with stops for tasting our wines and taking in the vistas, while learning about the soil, climate, farming, and history of the Green Valley. After the stroll, a brunch is served in the vineyard, accompanied by Dutton-Goldfield wines.“This is a fantastic opportunity for guests to get out in the vineyard, kick the soil, touch the vines, and really learn about wine growing and how that impacts the wine in the bottle,” says grower and partner Steve Dutton. Last year, the vineyard strolls program sold out very fast, so the schedule has been expanded this year to allow us to give more guests the chance to immerse themselves in wine from the vineyard to the glass. Each stroll is limited to 14 guests to allow for a very personal experience. Advance tickets are required, and are available now for $65 per person ($50 for wine club members) by emailing Nicole at [email protected], or calling her at 707.823.3887.Dutton-Goldfield Winery is the partnership of grape grower Steve Dutton and winemaker Dan Goldfield. The winery began in 1998 when longtime colleagues and friends Steve and Dan recognized a shared vision between them—to craft wines that express the personalities of their vineyards, and which they’d enjoy drinking at their own dinner tables. Our mission is to produce world-class wines that display the brightness of fruit, complexity, structure and balance that are reflective of our cool coastal home.Advertisement Share Linkedin Twitterlast_img read more

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Education Ministry in Discussions with Training Agencies on Logistics Hub

first_imgEducation Ministry in Discussions with Training Agencies on Logistics HubJIS News | Presented by: PausePlay% buffered00:0000:00UnmuteMuteDisable captionsEnable captionsSettingsCaptionsDisabledQualityundefinedSpeedNormalCaptionsGo back to previous menuQualityGo back to previous menuSpeedGo back to previous menu0.5×0.75×Normal1.25×1.5×1.75×2×Exit fullscreenEnter fullscreenPlay Education Ministry in Discussions with Training Agencies on Logistics Hub EducationAugust 15, 2013Written by: Latonya Linton The Ministry of Education is collaborating with key stakeholders to prepare students to meet the needs of the Global Logistics Hub, which is to be established in time for the opening of the Panama Canal in 2015.Chief Education Officer, Grace McLean says discussions are currently being held with the HEART Trust/NTA and Caribbean Maritime Institute in this regard.“Cabinet has already approved for the HEART Trust/NTA and the Overseas Examination Commission to purchase the Machado complex which will be established as a training facility to focus specifically on some those programmes for the logistics hub. The Caribbean Maritime Institute will also be involved in that as well,” Mrs. McLean said.The Chief Education Officer was speaking at a Jamaica Information Service Think Tank on Wednesday, August 14, at the agency’s Half Way Tree Road offices.She added that the Ministry is revising its curriculum and is also reviewing new and emerging areas.“For example, softer areas, such as packaging, merchandising and so on, call centre, contact operations and less capital intensive areas…we have already started to introduce those within our school system. It is important, however, that there is a strategic focus as it relates to the logistic hub and, of course, the Panama Canal, that is intended to open in 2015, so that we focus on the skills that are needed most,” Mrs. McLean said.“So through that discussion it is expected that once we have fine tuned and analysed how many of each area that will be needed, the Ministry will be identifying and channelling those schools into doing those areas so that the progression can take place,” she added.She also stressed that whatever measures are undertaken by the Ministry, will have to be done within a particular context.“Once we’re provided with the overall information, our system is so designed now, especially for the technical and vocational areas, so that the curriculum can be easily developed through the Heart Trust NTA and it can be readily implemented. So in essence, at the upper secondary level, it doesn’t have to take four/five years for the curriculum to be changed, as it is at the lower level.“So once the areas are required, we will be able to have the curriculum ready and to ensure that our teachers are sufficiently trained and working with the industry to have those areas implemented,” Mrs. McLean said.The Logistics Hub initiative is being spearheaded by the Government of Jamaica in an effort to position the island as the fourth major node in the global supply and logistics chain. This is intended to enable the country to take advantage of an anticipated increase in maritime activity, consequent on the expansion of the Panama Canal. RelatedJamaica Records Increases in 2013 CSEC Examinations RelatedFathers Encouraged to Attend Information Fairs Advertisementscenter_img Photo: JIS PhotographerChief Education Officer in the Ministry of Education, Mrs. Grace McLean, speaking at a recent JIS ‘ThinTank’. FacebookTwitterWhatsAppEmail Story HighlightsThe Ministry of Education is collaborating with key stakeholders to prepare students to meet the needs of the Global Logistics HubThe Ministry is revising its curriculum and is also reviewing new and emerging areasMachado complex to be established as a training facility RelatedEducation Ministry Ready for New School Yearlast_img read more

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