Chemical Vessel Oversupply to Continue Squeezing Rates

first_imgzoom The expected expansion of the chemical shipping fleet in 2017, driven by the large number of orders placed in previous years, will continue “squeezing rates on major routes over the next two years,” shipping consultancy Drewry said.Time charter rates weakened in 2016, especially for larger tankers, and freight rates on major long-haul routes dropped. Although the trade volume from the US to Europe and Northeast Asia surged in 2016, the appearance of speculative vessels brought rates down.Although the fleet will continue to expand, growth will be subdued compared to 2015-16, Drewry informed. While deliveries and ordering have reduced in 2016, there are still many ships scheduled to be delivered in the next five years because of heavy ordering during 2014 and 2015.More demolitions are expected because of new regulations that will come into force in 2017. Coupled with the implementation of the Ballast Water Treatment System (BWTS) in September 2017, the adoption of the global 0.5% sulphur cap may potentially accelerate the rate of vessel demolition towards the end of 2020. However, “this is likely to have little impact on fleet supply,” as most of the older ships are of less than 10,000 dwt, and thus, the capacity that can be scrapped will be a small percentage of the total fleet.“We expect fleet oversupply to persist in 2017 and time charter rates for larger ships, especially MRs, to decline because of stiff competition. However, rates for vessels in the smaller categories are likely to remain stable in 2017,” Hu Qing, Drewry’s lead analyst for chemical shipping, said.“The chemical fleet grew by 5.2% in 2016 and is expected to expand by 3.3% to the end of 2017, which will continue squeezing rates on major routes over the next two years. New orders and deliveries are also expected to decline further because of the depressed market and financial woes of shipyards,” Qing added.last_img read more

Five memorable moments from retiring Saskatchewan Premier Brad Wall

first_imgBrad Wall, who has served as premier of Saskatchewan for nearly a decade, has announced his retirement from politics. The leader of the province’s right-leaning Saskatchewan Party, Wall was notable for standing up for conservatism and sometimes clashing with Prime Minister Justin Trudeau’s Liberal government as a result.Here’s a look at some notable moments of Wall’s decade-long career as premier:Criticizing Federal Carbon TaxWall has been one of the loudest critics of the federal directive for all provinces to institute either a carbon tax or a cap-and-trade system. Trudeau made the announcement in October 2016 while provincial environment ministers were in a climate change meeting, and Wall wasn’t happy about it.“This meeting is not worth the CO2 emissions it took for environment ministers to get there. The level of disrespect shown by the prime minister and his government today is stunning,” Wall said at the time.Wall said the tax would “kneecap” the struggling Canadian economy, and argued the focus should be on technological solutions for emissions like carbon capture and storage.He has since said he is willing to take the federal government to court over the issue.—Standing Against PotashCorp SaleWhen a foreign company tried to purchase Saskatchewan’s PotashCorp in 2010, Wall was vehemently opposed.He called for the Conservative federal government, led by Stephen Harper, to “stand up for Canada and defend Canada’s national strategic interests” by keeping Australian-based BHP Billiton from taking over the company.He pushed his case in a stirring speech at a Regina Chamber of Commerce luncheon in October 2010.“We say yes to the national interests of our country. We say yes to fulfilling the potential of our province and our nation. We say yes to controlling the resource and our future. We say yes to Canada’s century,” Wall implored. “That big hope and grand vision requires, on this occasion, a modicum of courage and one little word — no.”The deal was averted in the end, a move the Conference Board of Canada said saved the province from $2 billion in lost revenue over a decade.—Calling to Halt 25,000 Syrian RefugeesWall made waves by asking Trudeau to reconsider his plan to welcome 25,000 Syrian refugees, citing security as a main concern.His comments came in November 2015, on the heels of a series of terrorist attacks that took place during a single day in Paris.Wall said the large number of refugee claims to be fast-tracked by the end of the year could undermine refugee screening.“Surely we do not want to be date-driven or numbers-driven in an endeavour that may affect the safety of our citizens and the security of our country,” said Wall.—A Stalwart Supporter of PipelinesThere was at least one thing about U.S. President Donald Trump that Wall could be pleased about: his support for pipelines.President Barack Obama rejected the construction of the Keystone XL pipeline, which would carry hundreds of thousands of barrels of oilsands bitumen from Alberta to Texas. Trump overturned the decision, granting approval to the pipeline.Wall said the decision was a win for both countries and said it will bring over 2,000 jobs to Saskatchewan.Wall passionately defended pipelines as the safest way to transport oil throughout his time as premier.—“Disbelief” Over Khadr SettlementWall was one of many to chime in with disapproval over the Trudeau government’s reported $10.5-million settlement with former Guantanamo Bay prisoner Omar Khadr.“For Omar Khadr, there ought never be an offer to ‘settle’,” Wall said in a Facebook post.“Some things are worth the legal fight.”Khadr, a Canadian citizen, was 15-years-old when he was captured by U.S. forces in Afghanistan. He spent 10 years in Guantanamo Bay after allegedly killing an American special forces soldier during a fierce firefight at a compound in Afghanistan in July 2002.—last_img read more

Aisha Tyler To Host 11th Annual ADCOLOR Awards

first_imgADCOLOR, the premier organization celebrating and promoting professionals of color and diversity in the creative industries, will return to Los Angeles with their 11th Annual ADCOLOR Awards at The Loews Hotel Hollywood Hotel on Tuesday, September 19.The event will be hosted by Aisha Tyler, honorees include All-Star Award recipient Jesse Williams (Actor & Activist), Advocate Award recipient Wilson Cruz (“13 Reasons Why” Star and Activist), Catalyst Award recipient Elaine Welteroth (Editor-in-Chief of Teen Vogue), presenters include Lena Waithe (Actress, “Master of None), Laz Alonso (Actor, “The Mysteries of Laura”), Janet Mock (Author, “Surpassing Certainty”), with ADCOLOR Founder & President Tiffany R. Warren, and more.The ADCOLOR Award Nominees and Honorees are carefully selected from a large population of diverse influencers across the creative industries. The finalists are chosen by the individual’s representation of ADCOLOR’s motto, “Rise Up and Reach Back”. Those honored not only excel in their own careers, but also give back to the community and support their peers. Their goal is to create a network of diverse professionals to encourage and celebrate one another. Please click here for a list of all honorees and nominees.The event is generously presented Omnicom Group and GSD&M, with Diamond Sponsors ADWEEK, Apple, DIAGEO, Google and YouTube, and OATH: A Verizon Company; Platinum Sponsors Apple Music, Bing Ads, DAS Group of Companies, Edelman, and Facebook; Gold Sponors Squeaky and Wieden+Kennedy; Silver Sponsors 72andSunny, BBDO, BET, DigitasLBI, Pandora, and Twitter; Supporting Sponsors Anomaly, Beats by Dr. Dre, Bloomberg, CBS Entertainment Diversity, DDB Worldwide, Ogilvy, OmnicomMediaGroup, OWN, Publicis Groupe, Spotify, TBWA\, and TBWA\Media Arts Lab; Table Sponsors Deutsch, GTB, HBO, IPG, Neustar, and Procter & Gamble.WHEN: Tuesday, September 19, 2017 Media Check-In – 5:00 PMRed Carpet/Cocktail Reception – 5:30 PMAwards Presentation/Dinner – 7:00 PMWHERE: The Loews Hollywood Hotel1755 N Highland Ave.Los Angeles, CA 90028last_img read more

The Unheralded Usefulness Of Thaddeus Young

The Minnesota Timberwolves finalized an agreement Saturday to ship All-Star power forward Kevin Love to the Cleveland Cavaliers for Andrew Wiggins, the No. 1 pick in June’s NBA Draft.This was no surprise, given stories this month about a verbal agreement between the clubs, but the details of the transaction are much clearer now — including the presence of a third team, the Philadelphia 76ers, in the deal. The Timberwolves not only snagged Wiggins and 2013 No. 1 overall selection Anthony Bennett from Cleveland, but also former 76er Thaddeus Young to help ameliorate the loss of Love.A veteran who was stranded amid Philadelphia’s ongoing franchise overhaul, Young has been the subject of countless trade rumors over the past several seasons. It’s a fact that speaks as much to his on-court usefulness as his reasonable contract (he’s still owed $19.4 million over the next two years, although he can opt out before the 2015-16 season). Because he has played for usually mediocre Sixers teams throughout his career, largely coming off the bench during the team’s most successful stretch of 2010-11 and 2011-12, Young has remained under the radar nationally. But while he’s no Love, Young has quietly been a decidedly positive presence throughout his NBA career, and — as Yahoo’s Dan Devine put it — a darling among “a certain segment of NBA obsessives.”In 2012-13, Young’s best statistical season, he scored with versatility and efficiency, ranking above the 75th percentile of all players (according to Synergy’s points per play metric) on both transition and half-court opportunities, which fueled a top-20 finish among qualifiers in effective field goal percentage. And though he only used an average percentage of Philadelphia’s possessions during his time on the court — Young has never been a huge scorer — he made his presence known in other ways, rebounding well for a non-center and playing above-average defense against multiple positions (both by adjusted plus/minus and Synergy’s metrics).When at his best, the only major holes in Young’s game are his passing and lack of shooting range. That combination can be limiting in a league increasingly focused on small-ball skills from its big men, but Young is good enough in other areas to make himself a useful part to a good team. And although it seems like he’s been in the NBA forever, Young will be just 26 years old next season. While his 2013-14 season wasn’t as good as the one that preceded it — Young’s offensive efficiency buckled under the strain of a larger role, while his defense and rebounding also slipped — it’s tough to judge a down year too harshly when it comes on a team that lost 63 of its final 79 games. Young still garnered positive plus/minus marks at both ends of the court despite the trying campaign.In Minnesota, Young will be part of another rebuilding project, and the popular prognosis is that the new-look Timberwolves, sans Love, will struggle in 2014-15. (For what it’s worth, though, our rough projection system suggests Minnesota — with Young — would be better than the ESPN Forecast’s 26-win projection.) Young probably deserved a better fate, but his skill set and still-in-his-prime age means he’ll either help a fledgling Wolves team buck those odds, or he’ll be sought-after in next summer’s free-agent market. read more

3DAY BAHAMAS MARINE FORECAST

first_img Related Items:bahamas weather, turks and caicos weather Facebook Twitter Google+LinkedInPinterestWhatsApp Bahamas Marine Forecast – 10th August 2015 Recommended for you Facebook Twitter Google+LinkedInPinterestWhatsAppTHIS IS THE MARINE FORECAST FOR THE BAHAMAS FOR 24 HOURS FROM 12AM TUESDAY 3RD FEBRUARY 2015, ISSUED BY THE BAHAMAS DEPARTMENT OF METEOROLOGY AT 0900UTC.GENERAL SITUATION: A VERY WEAK COLD FRONT ACROSS THE NORTHWEST BAHAMAS WILL CONTINUE PUSHING SOUTHEASTWARDS WHILE DISSAPPATING TODAY. NORTHWEST BAHAMASWEATHER: NONE SIGNIFICANT.WINDS: SOUTHWEST TO WEST AT 15 KNOTS AHEAD OF THE FRONT BECOMING NORTH TO NORHTEAST AT 10 TO 15 KNOTS BEHIND THE FRONT.SEAS: 3 TO 5 FEET AHEAD OF THE FRONT BECOMING 2 TO 4 FEET BEHIND THE FRONT.CENTRAL AND SOUTHEAST BAHAMAS AND TURKS AND CAICOS ISLANDSWEATHER: NONE SIGNIFICANT.WINDS: VARIABLE LESS THAN 10 KNOTSSEAS: LESS THAN THREE FEET OVER OPEN WATERMOONRISE AT 5.55 PM AND MOONSET AT 6.32 AMHIGH TIDE AT 7.22 AM AND LOW TIDE AT 1.04 AMHIGH TIDE AT 7.39 PM AND LOW TIDE AT 1.46 PMEXTENDED FORECAST: HIGH PRESSURE WILL DOMINATE THE WEATHER ACROSS THE ISLANDS WEDNESDAY AND SHIFT EASTWARDS AS ANOTHER FRONT PUSHES INTO THE BAHAMAS LATE THURSDAY/EARLY FRIDAY.FORECAST FOR WEDNESDAY:WEATHER: NONE SIGNIFICANT.WINDS: EASTERLY AT 10 TO 15 KNOTS.SEAS: 2 TO 4 FEET OVER OPEN WATERS.FORECAST FOR THURSDAY:ADVISORY: SMALL CRAFT IN THE NW BAHAMAS URGED TO EXERCISE CAUTIONWEATHER: CHANCE FOR SHOWERS BY NIGHTFALL AS A FRONT MOVES INTO THE NORTHERN BAHAMAS.WINDS: S TO SW 15 TO 20 KNOTS IN THE NW BAHAMAS AND SE TO S 10 TO 15 KNOTS IN THE CNTRL/SE BAHAMAS.SEAS: 4 TO 6 FEET IN THE NW BAHAMAS AND 2 TO 4 FEET IN THE CNTRL/SE BAHAMAS. Marine Forecast 18th August 2015 Noon Bahamas Marine Forecastlast_img read more

Hotel icon J W Marriott Jr visits Turks and Caicos Government

first_img Education Minister touts new ICT platform for Public Schools Facebook Twitter Google+LinkedInPinterestWhatsAppProvidenciales, 29 Jun 2015 – A lunch meeting held recently welcomed hospitality icon and namesake of the J.W. Marriott brand; J. W. Marriott Jr. who not only offered reassurances about his hotel brand but advice on how to establish and keep a successful operation going. It was a vote of confidence obviously being shown by the Marriott Family in the developers of the property to come for Provo; Desarollos Hotelco and Walter Stipa, its President& CEO which had a few months ago been named in a civil law suit; one which TCIG believes will not impact the development. The session, which was held at the Office of the Premier in Providenciales, gave developers an opportunity to introduce to the Turks and Caicos Islands Government to the brand values of Marriott International Inc. and the Ritz-Carlton Hotel Company. It was shared that Mr. Marriott offered success stories of his global lodging company which carries 19 brands across 4,200 properties in 80 countries and territories with 365,000 employees world-wide. Marriott said they credit the success largely to the people whom they employ, “If you invest in your people and treat them right, they will treat your guests right.” There were a lot of dignitaries at the meeting, with an introduction by the Governor Peter Beckingham and attendance by TCI Government Ministers including Premier Rufus Ewing, Deputy Premier Akierra Missick, Tourism Minister Porsha Smith, Finance Minister Washington Misick, Attorney General Rhondalee Knowles and Government Support Services Minister, George Lightbourne. Joining Mr. Marriott from the Caribbean and Latin American arm of Marriott International Inc. were the President, Tim Sheldon; Brenda Durham who is the Regional General Counsel and Catherine Leitner, Area Director of Public Relations for both the Ritz-Carlton Hotel Company and Marriott International Inc. Construction of the $224 million dollar European plan style Ritz-Carlton Hotel Resort, Casino and Spa in Provo will begin in November. Recommended for you Education Minister tours schools this week Related Items:akierra missick, construction, george lightbourne, j. w. marriot, Portia smith, premier rufus ewing, rhondalee knowles, ritz carlton, visit, Walter Gardiner, washington misick Ministry of Education introduces pilot program Facebook Twitter Google+LinkedInPinterestWhatsApplast_img read more