Tanker Investments Plunges Further into Red

first_imgzoom Challenging market conditions plagued by the oversupply of vessels have pushed tanker owner and operator Tanker Investments Ltd (TIL) further into the red in the third quarter of the year.Namely, TIL reported a net loss of USD 9.4 million for Q3, widening its loss from the corresponding quarter a year earlier which stood at USD 2.9 million.For the nine-month period, net loss was USD 12 million, a  major downturn when compared to the net income of USD 28.5 million for the corresponding period in 2016.Generated cash flow from vessel operations was USD 5.6 million in the third quarter of 2017, compared to USD 7.6 million in the previous quarter.“The third quarter was particularly challenging for the tanker market,” said William Hung, TankerInvestments’ Chief Executive Officer. “The combination of OPEC cutbacks and oversupply of vessels outweighed strong oil demand which impacted rates during the seasonally weak third quarter. As we move through the fourth quarter, we expect tanker rates to increase as seasonal weather delays will dampen effective vessel supply along with a slowdown in vessel deliveries. Looking ahead to 2018, we expect a recovery will continue as the bulk of the orderbook will have delivered in 2017 and, with oil demand continuing to grow, we expect to see an increase in fleet utilization due to demand for longerhaul voyages.”The results have been released ahead of the special shareholders’ meeting scheduled for November 17 when TIL’s shareholders are going to decide on the proposed merger with Teekay Tankers.During Q3 total revenues decreased to USD 21.4 million from USD 26.6 million in the same quarter last year due to lower spot tanker rates earned across the fleet. During the nine months ended September 30, 2017, total revenues decreased to USD 80.9 million from USD 120.2 million in 2016.The global tanker fleet grew by 24.5 million deadweight tons (mdwt), or 4.4 percent, in the first nine months of 2017.The tanker fleet growth is expected to moderate in the coming months, as the peak of newbuilding deliveries has passed and as the pace of scrapping is expected to pick up.A total of 7.1 mdwt of tankers was scrapped in the first nine months of 2017, a significant increase from 2.5 mdwt of scrapping for the entire year of 2016.For 2017 as a whole, TIL forecasts tanker fleet growth of just over 5 percent, down from approximately 6 percent in 2016. Lower fleet growth is expected in 2018 and 2019 as the orderbook continues to roll-off and as tanker scrapping increases, with additional upside from potential further cancellations of newbuilding contracts due to the lack of available refund guarantees.last_img read more

Bahamas diabetes cases soar 160 increase in 8 Years says Health Minister

first_img Women lead diabetes cases for TCI, country marked World Diabetes Day Nov 14 Recommended for you Facebook Twitter Google+LinkedInPinterestWhatsApp#Bahamas, November 14, 2017 – Nassau – World Diabetes Day is today and the focus is on women and while there are no detailed recent statistics published about how much the disease is impacting the health and productivity of residents of The Bahamas, a 2014 study exposed this:  According to figures released by the International Diabetes Federation (IDF), in 2014 The Bahamas had 34,900 people with diabetes.   The figures did not include those who are pre-diabetic.At the time Dr. Graham Cates said, “When we look at the world overall, The Bahamas is leading in the prevalence of diabetes in the entire world.”Health Minister, Dr. Duane Sands also shared some shocking news as he presented on the National Health Insurance in the House of Assembly in July, including the latest information on how diabetes is affecting the population.“In the almost decade interval between 2005 and 2012 our nation saw a 16 percent increase in sedentary lifestyle diseases; a 13 percent increase in overweight; a 14 percent increase in obesity; a 55 percent increase in hypertension; and a 160 percent increase in diabetes.”World Diabetes Day (WDD), celebrated on November 14 of each year was this year in The Bahamas marked by ScotiaBank.    Nakera Symonette, Senior Manager of Marketing said, “We are committed to helping young people become better off and are thrilled to partner with The Bahamas Diabetic Association to raise awareness as diabetes is prevalent among our population, impacting adults and children.”ScotiaBank staff wore the signature blue ribbons in commemoration of World Diabetes Day.#MagneticMediaNews#WorldDiabetesDay Facebook Twitter Google+LinkedInPinterestWhatsAppcenter_img More women with diabetes in Turks and Caicos, World Diabetes Day Nov 14 Related Items:#magneticmedianews, #worlddiabetesdaylast_img read more

DAs office releases bodycam footage of four officerinvolved shootings

first_img 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) — In a move to achieve transparency with the public when it comes to officer-involved shootings, the DA released findings concerning four officer-involved shootings that took place over the last several months.Perhaps the most remarkable shooting discussed is one that happened in Chula Vista last year when an officer was stabbed numerous times in the head.Last September officers responded to a call of a suspect hurling concrete bricks at a neighbor.When officers entered the suspect’s house he immediately started stabbing Officer David Sachs who was in the fight for his life. Sachs, a Police Cross-Fit Competition champion, then physically overpowered the suspect, reached for his weapon and shot the suspect, thus ending the stabbing attack.Had this officer not been in such great physical shape, this story could have had a much different ending. Posted: June 29, 2018 Updated: 6:43 PM DA’s office releases body-cam footage of four officer-involved shootings June 29, 2018center_img John Soderman John Soderman, Categories: Local San Diego News FacebookTwitterlast_img read more

Trying to Make Sense of Magazine Closings

first_imgNone of this makes recent numbers any more tolerable, really. Closings and the subsequent job loss in any situation are horrible. But the MPA is attempting to take a big-picture view and attach the numbers to the economy rather than a specific loss of consumer interest, which would be really bad.PIB revenue declines, for example, occurred only in recession years. ABC average circ dropped during these same periods, but by far lower percentages. Therefore, concludes MPA, advertising is the “dominant factor in magazine closings.”Yet looking at the Ulrich numbers only makes things more confusing. Yes, 2000 and 2001 saw unprecedented closure rates—125 and 166, respectively—but that recession period was an anomaly, if anything. The years between the indicated 1991 to 1992 and 2008 recession years experienced much higher closure rates, and are comparatively high even to 2000 and 2001 standards.In other words, Ulrich’s numbers don’t necessarily jibe with the idea that closures are tied to a recession—there are lots of closings every year. As I mentioned earlier, 2006, not a recession year, had 104 magazine closings—twice as many as last year.Plus, it would make a lot more sense to dig deeper and examine the kinds of magazines that close. Say, big mass-market mags versus smaller niche enthusiast titles. The MPA wants to make a few things clear about the unfortunate string of magazine closures we’ve been experiencing.It’s the economy, stupid. That’s not what they said, exactly, but they’d like to remind everyone that the readers are still there—it’s the advertisers that are jumping ship. A data sheet posted on MPA’s site in early August attempts to point out that consumer interest, via circ levels, is maintaining while advertising declines correspond with shutdowns.Also, last year wasn’t all that bad compared to other years. In fact, we didn’t even come close to 2000-2001 levels.The MPA cites closure metrics from Ulrich’s Periodicals Directory. Apparently, there were 54 magazines closed in 2008, which is 11 less than 2007 and, interestingly, 50 less than 2006, which was the peak for mag closings after 2001.last_img read more

MultiState Lawsuit Filed Against Orbital Publishing Group

first_img The suit charges that the companies sent solicitations without indicating subscription expiration details, so consumers were paying fees without realizing their subscriptions weren’t actually up for renewal. Other consumers said they paid for subscriptions they never received. Other companies named in the suit are Liberty Publishers Service, Inc., Express Publishers Service, Inc., Associated Publishers Network, Inc., Publishers Payment Processing, Inc., Adept Management, Inc., Customer Access Services, Inc., Consolidated Publishers Exchange, Inc., Magazine Clearing Exchange, Inc., and Henry Cricket Group, LLC. The suit alleges that Orbital and a group of other companies have been sending illegal solicitation notices as far back as 2010. Orbital and its principal, Laura Lovrien, were named in a similar suit brought by Wisconsin AG J.B. Van Hollen in late 2014. Lydia Pugsley, alleged owner of Adept Management, was also named in the New York suit. In an affidavit filed as part of the New York lawsuit, Dow Jones said it spent $3.5 million to deal with the scam. Part of that money went toward free subscriptions. American City Business Journals estimates its subscribers collectively lost as much as $120,000 from the scam. According to court documents, the companies received payments from the customers and then sent checks to the publishers, pocketing the difference. Some Consumer Reports subscribers were being charged $59.95 for a one-year subscription that actually cost $29.95. The New York Attorney General’s office, along with the Attorneys General of Oregon, Minnesota, Missouri and Texas, have filed a lawsuit against Orbital Publishing Group, Inc.—a periodical subscription agency—and a number of other related businesses for mailing millions of allegedly misleading subscription and renewal notices. The notices were being sent without the permission or knowledge of publishers. At least 44 publications were used in the scheme, according to the suit. Customers receiving the notices were being told they were getting the lowest possible rates when in fact Orbital and a network of other entities were often charging more than double the subscription price. For their part, publishers had been sending cease and desist letters to the companies. Others ran full-page ads and alerts on their websites to warn customers of the illegal solicitations. “It is illegal under New York law to trade on the name of reputable publications and use deceptive advertising to trick consumers into overpaying for goods and services,” says New York Attorney General Eric Schneiderman. “New York is home to the largest media market in the country and serves as headquarters to many of our nation’s most important newspapers and magazines. My office will work hard to protect New Yorkers from swindlers and to protect the business of reputable companies who play by the rules.” The  publications that Orbital Publishing Group allegedly used to overcharge customers: 1. America Magazine 2. American Association Individual Investor 3. Car & Driver 4. Catholic Digest 5. Country Woman 6. Daily Word 7. Discover 8. Entertainment Weekly 9. Farm Show 10. Forbes 11. Foreign Affairs 12. Harvard Business Review 13. Kiplinger’s Personal Finance 14. Mother Earth News 15. National Geographic 16. New York Magazine 17. New York Times 18. Old Cars Weekly 19. People 20. Popular Science 21. Science News 22. Shooting Times 23. Smithsonian 24. Southern Living 25. Sports Illustrated 26. The Atlantic 27. The Economist 28. The Nation 29. The New Yorker 30. The Sun 31. The Wall Street Journal 32. The Word Among Us 33. Time 34. Turkey & Turkey Hunting 35. TV Guide 36. US Catholic 37. W Magazine 38. Woman’s World 39. Consumer Reports 40. The Nation 41. Kansas City Star 42. Milwaukee Journal Sentinel 43. Tulsa World 44. Omaha World Heraldlast_img read more

Air Force Plans to Shave Civilian Workforce

first_imgThe Air Force could be forced to lay off hundreds of civilian employees this year to meet funding targets and rebalance its civilian workforce, officials said Wednesday.Officials last year identified “more than 1,000 civilian overages” across 48 installations going into fiscal 2016, according to a press release. As a result, “some Air Force installations will implement civilian reduction in force (RIF) authorities effective through April 4.“Having the RIF authorities will assist in the placement of employees not assigned against funded positions and allow greater flexibilities for employees to be placed at their installations while retaining their grade or pay,” the release stated.Officials will attempt to reassign civilians to other positions, with the remaining employees eligible for future vacancies.Over the last two years, the service has relied on several rounds of voluntary separation and retirement programs as well as reassignments to vacant positions to reduce its civilian workforce. Those efforts “have moved us significantly closer to our target manning levels,” said Lt. Gen. Gina Grosso, deputy chief of staff for manpower, personnel and services.“We will take care of our civilian airmen by using every possible measure to minimize personal financial hardship for our civilian workforce and their families,” Grosso said. “We are committed to assisting each individual through this transition,” she stated.The Air Force’s use this year of RIF authorities is separate from sequestration actions, according to the release.Under a plan submitted to Congress in February, DOD is attempting to bring its total civilian workforce — minus exclusions for certain positions — from 238,000 in 2012 to 221,000 by 2017, reported Air Force Times. Dan Cohen AUTHORlast_img read more

Senate Easily Approves Defense Bill

first_imgThe Senate easily passed the fiscal 2017 defense authorization bill 85-13 on Tuesday after another skirmish on the floor blocked most amendments from gaining votes.Action stalled because senators who were unable to secure votes for their favored amendments blocked the chamber from considering other proposals. Armed Services Chairman John McCain (R-Ariz.) criticized his colleagues ahead of the vote, suggesting some were taking a “their way or the highway” approach.“As happy as I am about the size of the vote, we left out some very important amendments,” McCain said, reported the Hill. “When we take up a bill of this significance, not every senator can have his or her way.”Lawmakers adopted one amendment Tuesday permitting DOD to use Russian-made rocket engines to lift military and intelligence satellites into space through 2022.With the $602 billion measure cleared by the Senate, the two chambers will begin talks to reconcile their competing versions immediately, McCain said. He would not commit to reaching a deal on a conference report before Congress adjourns for a lengthy recess in July, but said that would be the goal.The annual defense policy bill will need to overcome a number of hurdles before becoming law, according to the story. The Office of Management and Budget has threatened to veto the two versions over a variety of provisions, including language eliminating the undersecretary of defense for acquisition, technology and logistics; limits on the size of the National Security Council staff; restrictions on the transfer of detainees from Guantánamo; language rejecting the administration’s request for a BRAC round in 2019; and a move allocating $18 billion from the overseas contingency operations account to the base budget. Dan Cohen AUTHORlast_img read more

Wilmington OBITUARIES Week of November 18 2018

first_imgWILMINGTON, MA — Here are the obituaries published on Wilmington Apple during the week of November 18, 2018:Lived In Wilmington At Time Of Passing:Thomas H. Deechan, Jr., 71Louise (Nardo) Russo, 87Previously Lived In Wilmington:Thomas Joseph Donahue, 75Michael O’Brien, 62Worked In/Volunteered In/Connected To Wilmington:NoneLike Wilmington Apple on Facebook. Follow Wilmington Apple on Twitter. Follow Wilmington Apple on Instagram. Subscribe to Wilmington Apple’s daily email newsletter HERE. Got a comment, question, photo, press release, or news tip? Email wilmingtonapple@gmail.com.Share this:TwitterFacebookLike this:Like Loading… RelatedWilmington OBITUARIES (Week of August 18, 2019)In “Obituaries”Wilmington OBITUARIES (Week of July 7, 2019)In “Obituaries”Wilmington OBITUARIES (Week of August 11, 2019)In “Obituaries”last_img read more

Snowball the dancing cockatoo gets serious scrutiny from science

first_imgEnlarge ImageSnowball got down for a Taco Bell ad. Video screenshot by Amanda Kooser/CNET Ha, ha! Check this out! It’s a dancing cockatoo! This is how Snowball, a bird with a passion for dance, made the rounds as a viral video sensation getting down to the Backstreet Boys back in 2007. But Snowball is more than an amusement, he’s also the star of a new scientific study.Researchers are studying Snowball to learn how dancing can transcend the human condition and extend to our avian friends. “Spontaneity and diversity of movement to music are not uniquely human” is the title of a paper published Monday in the journal Current Biology.A previous parrot study (and one with a sea lion) showed some animals can keep a musical beat, but this new Snowball research suggests the bird is inventing moves as he goes.  1 The science team, led by cognitive neuroscientist Aniruddh Patel of Tufts University and Harvard University, filmed Snowball dancing to Queen’s Another One Bites the Dust and Cyndi Lauper’s Girls Just Want to Have Fun. They analyzed the bird’s movements.The researchers counted 14 distinct dance moves and two composite movements. Snowball’s skills included a body roll, head bobs, foot lifts, head banging and a move reminiscent of Madonna’s ’90s Vogue dance craze. Snowball’s dance snippets tended to be performed for several seconds each, and he changed up his routine each time he heard a song again. “What’s most interesting to us is the sheer diversity of his movements to music,” Patel said in a statement on Monday. The study suggests Snowball may be displaying creativity in his dancing. The research team is currently investigating if the cockatoo’s capers are a form of social interaction with his human caregivers. Sea lion may be first nonhuman mammal to keep a beat Cussing rescue parrot forges sweet Amazon Alexa friendship 11 Photos The researchers said a collection of shared traits between humans and parrots might be responsible for Snowball’s dancing prowess: “(1) complex vocal learning, (2) the capacity for nonverbal movement imitation, (3) a tendency to form long-term social bonds, (4) the ability to learn complex sequences of actions, and (5) attentiveness to communicative movements.”Snowball’s talent first came to light after he was taken in by the Bird Lovers Only rescue agency in South Carolina in 2007. Besides his viral fame, he also starred in a Taco Bell commercial.Snowball seems to be showing that cutting a rug and getting creative with it isn’t just for people. Perhaps he’ll earn himself an invite to Dancing with the Stars. Commentcenter_img 11 spectacular suits of animal battle armor (pictures) Curious critters Share your voice Tags Sci-Techlast_img read more

Dr Reddys leads Indian charge of 130 billion Chinese pharma market stocks

first_imgRaghavendra NDr Reddy’s Laboratories is leading an Indian charge of the $130 billion Chinese pharma market, which is the world’s second largest. The likely liberalisation of the market by the Chinese regulator CFDA will benefit Indian pharma companies that have a solid presence in China, which is the world’s second largest pharma market, a report by Edelweiss Group says.Dr Reddy’s, which maintains a robust presence in China through a joint venture, is evolving a strategic plan to increase its revenue from the current $100 million. The company plans to achieve this by introducing new products and including more segments.The market has responded positively to the report with pharma stocks continuing their strong rally in the National Stock Exchange (NSE). Nifty Pharma sectoral benchmark hit a high of 9,278.70 after opening at 9,193.30. The index that benefited from the strong showing of Glenmark, Lupin and Aurobindo Pharma closed at about 9,263, up about 83 points or 0.91 per cent. Dr Reddy’s surged to an intraday high of 2792.55 from the previous close of 2765.20 to close 4.80 or 0.17 per cent up at 2,770.The company will strengthen its presence by scaling up the joint venture business and increasing the number of “dossier submissions and entries into new therapeutic areas,” MV Ramana, CEO, branded markets (India and emerging markets) of Dr Reddy’s, told Financial Express. According to Edelweiss, Dr Reddy’s, the largest foreign player in China, is poised to benefit from regulatory changes in the country. Dr Reddy’s plans to launch about 60 products and improve revenue significantly over the next seven to eight years, according to the report. PixabayThe company’s strong local partnerships have helped it commercialise some of the imported brands, the report says. The company’s revenue in FY18 was $100 million, with the help of its Canada-based joint venture Kunshan Rotam Reddy.”The size and growth of the market, our long presence and also the recent changes in China’s regulatory framework make this an attractive space for Dr Reddy’s. In terms of market size and expanded generic opportunity, China is the second largest pharma market with $130 billion in size, and generics form 65 per cent of the hospital market. About 22 per cent of the market is with off-patent innovators. While shortening the market access and reimbursement timelines for innovative drugs, China intends to replace the off-patent innovators with high-quality generics that opens up this share of the market to generic firms,” Ramana said.Dr Reddy’s US/EU portfolio mostly comply with Chinese regulations, while additional China-specific studies might be required in the case of some. “While in the past five years, we have had some good pipeline of filings, the plan is to scale this up and file a good number of dossiers in next few years,” he said.The Edelweiss report states that a growing Chinese pharma market and a relaxed Chinese drug regulator, CFDA, are likely to attract many Indian generic players. The relaxed norms may allow Indian companies to file their USFDA-approved products in China and get CFDA approval within months in the normal course. Among the drugs in demand, the most prominent are those for obesity, diabetes, respiratory illness and cancer.”While the regulations have been aligned with International Council of Harmonisation (ICH), there are China-specific requirements, which could pose challenges. Dr Reddy’s will continue to work to build strong regulatory capability and build on our experience to increase the probability of success for any new filing,” the report quoted Ramana as saying.last_img read more