Cosco Shipping Energy Seals Half A Billion Loan

first_imgzoom Cosco Shipping Energy Transportation (CSET) has signed a loan agreement with Export Import Bank of China (China EximBank) worth USD 543.9 million.As disclosed, the funds will be used to finance around 70 percent of construction of ten newbuild tankers.The newbuilding ships include seven VLCC and three LR1-type tankers.Cosco Corporation’s energy arm said in a stock exchange filing that the agreed loan period will be 12 years applicable after the delivery of each ship.Formerly known as China Shipping Development Company Limited, CSET specializes in shipping of oil products and liquefied natural gas.As of June 2016, the company operated 105 tanker vessels, including ten LNG carriers, with a total shipping capacity of 16.8 million DWT and held an order for 25 tanker vessels, 24 of them being LNG carrier newbuilds.World Maritime News Stafflast_img read more

Neil Youngs Honour The Treaties Tour

first_imgLast autumn, when rocker Neil Young was working on a film about CO2, he decided that he should make a trip to Canada’s Fort McMurray oilsands, in Alberta, to see firsthand what was really going on. What he found frightened him.“When I say Fort McMurray, I am referring to the oilsands, the tar sands and the industrial projects going on around there,” said Young in a CBC interview. “Every day those projects go on, they put out as much CO2 as all the automobiles in Canada on that day. So for every day that goes by it’s like there are twice as many cars on the road.”But what also worried him was the misinformation being spread about the environmental impact of the production.“On the way [to an oilsands site] I saw a reclamation site by the side of the road, which actually is not a reclamation site but it’s what they call a reclamation site for publicity. It’s the first of many mistruths that I encountered. It’s not a reclamation site. It’s not on a tar sands site. It’s a pile of dirt that was taken from another place, piled up, and trees grew out of it. But I hadn’t gotten to the site yet.“When I got to the site, it’s the best looking one of them all apparently, but it scared the hell out of me. I looked at it and I thought, as an environmentally concerned Canadian, I was shocked at what I saw. […] What is going on around [Fort McMurray]is the ugliest environmental disaster that I not only have ever seen but that I could even comprehend. It is huge.”Young decided to speak to the Athabasca Chipewyan Chief Allan Adam, a First Nation tribe directly affected by the oilsands upstream. In a press conference with Young, the chief said that his community has seen their fish become inedible, wildlife disappear and cancer rates skyrocket since the oilsands began production. The expansion of the oilsands production, they claim, violates their treaties.To help raise funds to support the First Nation’s legal defence fund to have their treaties honoured, Neil Young and Diana Krall, another Canadian singer, staged “Honour the Treaties” concerts in four Canadian cities (Toronto, Winnipeg, Regina and Calgary).“This concert series should have happened years ago,” says Young, “when all of the things that are happening now started. This is just to bring awareness to people who care in Canada, and people who may not be aware of what is going on in the west. I always felt that Canada was a different place, and where the values were different, and that we cherished the natural surroundings that we’re in, but my visit to Alberta changed a lot of that for me. This government has ignored science to the point where science is not even an issue. This is a tour of broken promises across Canada. This government is trading the integrity of Canada for money. Make no mistake about it.“I was sitting with the chief in the teepee on the reserve. I was hearing the stories. I saw that the cancer rate was up among all the tribes. This is not a myth. This is true. You can either believe me and the First Nations people, or you can believe the oil companies and the Canadian government. And you’ve got to look at the motivation. Why would anybody say anything, why would I say anything, and why would the First Nations people say anything if there wasn’t something wrong? And then look at the motivation of the Canadian government and the oil companies that they’re working with.”Hear the whole CBC interview here.Copyright ©2014Look to the Starslast_img read more

Private equity firm is winning bidder for Weinstein Co

first_imgNEW YORK, N.Y. – A private equity firm emerged Tuesday as the winning bidder for the Weinstein Co., the studio forced into bankruptcy by the sexual misconduct scandal that brought down Hollywood mogul Harvey Weinstein.The Weinstein Co. announced in a statement that no other bidder made a better offer than Dallas-based Lantern Capital, which made a “stalking-horse” bid last month to pay $310 million in cash for the Weinstein Co.’s assets. The emergence of another qualified bidder would have triggered an auction leading to higher sale price.The sale is subject to approval by a Delaware bankruptcy court, which has set a sale hearing for next week. The sale faces numerous objections that must be resolved, some from actors including Jennifer Lawrence, Meryl Streep and Brad Pitt, who claim they are owed profit participation from projects.The Weinstein Co. filed for bankruptcy in March, succumbing to a fate it had tried to avoid since the scandal that forced Harvey Weinstein’s ouster as CEO in October. Some 80 women, including prominent actresses, have accused Harvey Weinstein of misconduct ranging from rape to harassment.The New York company’s primary assets are a lucrative 277-film library, a television production business, and an unreleased film portfolio that includes four distribution-ready films and other projects in various stages of development.Lantern also has agreed to assume about $125 million in project-related debt and to cover obligations related to the assumption of certain contracts and leases.“We are honoured by the board’s recognition and acceptance of Lantern’s planned acquisition,” Lantern said in statement.The company said it was “committed to providing premier content with a diverse workforce and a safe environment founded on a culture of respect and creativity.”In a last-minute twist, a company formed by Broadway producer Howard Kagan made an offer Tuesday, asking for an extension to complete due diligence. But the Weinstein Co. declined to consider the bid, saying it lacked “a purchase agreement, a financing commitment, a deposit, or a number of other requirements for a qualified bid.”Kagan’s offer had the support of five women who have filed a class action lawsuit against Harvey Weinstein. In a statement, the plaintiffs said they opposed the sale to Lantern because it contained no guarantee of a settlement fund for Weinstein’s accusers.In a letter, Kagan outlined a plan that would have included $25 million, along with 4 per cent of the equity of the company, for a fund for Weinstein’s accusers. He also proposed a cash payment of $5 million plus 1 per cent of the equity in the new company for employees and former employees with claims against Weinstein.“What really should happen here is that the company should be sold in a way that the victims are taken care of,” Kagan told The Associated Press.Kagan, a former hedge fund manager-turned-Broadway-producer, often works alongside his wife, Janet. They won Tony Awards for the 2013 revival of “Pippen” and the 2012 revival of “Porgy and Bess.” Their most recent foray onto Broadway ended disastrously. Having taken “Natasha, Pierre and The Great Comet of 1812” to Broadway with Josh Groban, the Kagans faced criticism over how they handled replacing the pop singer.Lantern has been in talks for months about acquiring The Weinstein Co. It had been part a group of investors led by businesswoman Maria Contreras-Sweet that had been involved in long and ultimately unsuccessful negotiations to buy the company.New York Attorney General Eric Schneiderman, who has filed a lawsuit on behalf of the Weinstein Co.’s employees, had urged any bidders for the company to include compensation for the victims.“From the start, we’ve underscored the importance of adequately compensating victims, protecting current employees, and ensuring that wrongdoers are not rewarded,” said Amy Spitalnick, a spokeswoman for Schneiderman’s office. “We’ll continue to push for those critical goals.”last_img read more

Trump says changes coming on hightech visas

first_imgWASHINGTON — President Donald Trump says changes are coming in the way that the U.S. handles temporary H1-B visas, which allow American companies to bring high-tech and other skilled workers into the U.S. from abroad.Trump tweeted Friday that those who hold the temporary H1-B visas can “rest assured” because changes are coming that will bring “both simplicity and certainty to your stay, including a potential path to citizenship.”Trump says the U.S. wants to encourage talented and highly skilled people to pursue careers in the U.S. As a candidate, he promised to stop H-1B visas from being used as a “cheap labour program.”A draft proposal circulated in January to review regulations, find ways to allocate visas more efficiently and ensure that beneficiaries are “the best and the brightest.”The Associated Presslast_img read more

BC Oil Gas Commission working to determine source of earthquake

first_imgThe magnitude of the earthquakes ranged between 3.4 and 4.5 on the Richter scale.The Commission says CNRL immediately suspended hydraulic fracturing operations as per the Commission’s Kiskatinaw Seismic Monitoring and Mitigation Area Special Project Order and, the Drilling and Production Regulation.The Commission also states that CNRL’s operations may not continue without thewritten consent of the Commission. The Commission says they are requesting a 30-day halt to fracking in the area close to the source of the earthquake.“Companies operating within that area have confirmed that there will be no hydraulic fracturing activities for the next 30 days within the specified area. This will provide the Commission with sufficient time to conduct a thorough investigation. Companies will need to confirm with the Commission before operations within the specific area resume.”The Commission will continue to monitor the area for further earthquake activity. CORRECTION – An earlier version of the article headline suggested the cause of last weeks earthquake had been determined.  This headline was incorrect.  The cause is still under investigation.  We apologize for this mistake.FORT ST. JOHN, B.C. – The B.C. Oil & Gas Commission has narrowed down the source of the earthquake that occurred southeast of Fort St. John on November 29, 2018.The Commission conducted a study and found that the cause of the earthquake may be linked to hydraulic fracturing operations being conducted by Canadian Natural Resources Ltd. in the Septimus field of the Montney formation, southeast of Fort St. John (see map).last_img read more

Controversy erupts after Sheilas comment on Manmohan Singh

first_imgNEW DELHI: Controversy irrupted on Thursday after Delhi Pradesh Congress chief Sheila Dikshit in a TV interview allegedly said that former Prime Minister Manmohan Singh was not as strong as his successor, PM Narendra Modi, in tackling cross-border terrorism. While the BJP top brass came down in the support of the statement, Delhi’s ruling AAP lashed out at Dikshit over her statement.However, Dikshit had said that her comments had been taken out of context. She had tweeted, “I have seen some media is twisting my comments made in an interview. Here is what I said — it may seem to some people that Mr Modi is stronger on terror but I think this is a poll gimmick more than anything else..” Also Read – Bangla Sahib Gurudwara bans use of all types of plastic itemsTaking to Twitter, BJP Chief Amit Shah said, “Thank you Sheila Dikshit ji for reiterating what the nation already knows but the Congress party is never ready to admit.” After the statement the AAP top leaders alleged that there is a secret pact between Congress and BJP. The bitter rival Chief Minister Arvind Kejriwal who defeated then CM Sheila Dikshit by nearly 25,000 votes missed not word to slam Dikshit. “The statement of Congress leader Sheila Dikshit praising Prime Minister Narendra Modi is really surprising and indicates something is going on between the BJP and the Congress.” AAP has consistently maintained over the years that depending on their convenience according to time and situation, the BJP and Congress do not hesitate to come together. Delhi is one of the prime examples which witnessed this phenomenon many times during last four years when Congress did not hesitate even for a moment to join hands with the BJP. AAP leader and Deputy CM Manish Sisodia said, “We have been saying this since the beginning that this time the Congress is working to make Modi ji the Prime Minister once again.”last_img read more

Boateng I feel great and I can help the team

first_imgIn a lengthy interview with La Gazzetta Dello Sport, Kevin Prince Boateng reflects on his return to Serie A, his past and his future.Kevin Prince Boateng signed for Sassuolo this summer from Bundesliga club Eintracht Frankfurt. He sat down with Italian newspaper La Gazzetta Dello Sport to give an insight into his career so far. Calcio Mercato reports.“With the experience, you understand what your body needs exactly At 31 I feel great and I can help the team there too, even if this means running more. The family is important. But I’m calm with myself, I do not put as much pressure as before. When I lose I get angry again, but today, unlike the past, when I was not talking to anyone for three days, I can understand the how and why of the defeat.” said Boateng.“I love music since I was little. It helps me a lot in difficult times. For years I wanted to make a record and this summer I had some ‘time … The video points a lot on this thing of the king, but for me, it was important to tell how and where I grew up, the sacrifices made that now make me feel the king, the king!Rick Karsdorp, Roma, Serie AKarsdorp reveals he had too much stress at Roma Manuel R. Medina – September 14, 2019 The Dutch defender has been with the Gialorrossi since 2017, but he has not enjoyed his time in the Italian Lega Serie A.“There is only one [CR7] …I know I was so wrong when I was young because I was not serious and I did not have the right people around, unlike today. Anyway, yes, even now, looking back, I feel I could have reached a lot higher, despite my good career.“The Sassuolo project goes far beyond salvation, given the first three games, that’s our target, we aim high, where no one can see us … Juventus is already special, if you play first place it’s the best: to score points you have to be perfect and hope that they are not, but we are a team of young people who have the chance to face the strongest players in the world in one of the most important stadiums in Europe: what more do you want?”last_img read more

Post Maria Dominica will rebuild with concrete

first_imgFacebook Twitter Google+LinkedInPinterestWhatsApp#Dominica, October 10, 2017 – Dominica, which was bruised badly by #HurricaneMaria has ascertained that building with concrete is a must for the tiny island.    It is not cheap, but it is what the islanders now believe must happen to weather severe hurricanes.    One report says that few people can afford to complete concrete constructions – the more common way to go had been wood, stucco and tin.However, the residents are doing their best to use the resources coming in to fortify their homes with stronger materials.    It was also cited that the popular building out of pocket, which staggers the swift completion of structures was a problem for #Dominica which was hammered on September 18; even the country’s PM, Roosevelt Skerrit lost the roof off his house in the Category 5 storm.#MagneticMediaNews Facebook Twitter Google+LinkedInPinterestWhatsApp Related Items:#HurricaneMaria, #magneticmedianews, Dominica FortisTCI announces bid to hike electricity bills, cites record $42m response to hurricanes as destabilizing New, stringent posture on illegal construction makes fines, personal demolition and possible deportation legal says PDM Minister, law now passed Recommended for you Former PNP Election candidate and businessman calls for swifter reconstruction for Capital, Grand Turklast_img read more