Horizon stare still best option to find sea legs

first_imgNew Zealand Herald:There is little doubt that the dreaded mal de mer or seasickness is one of the worst and most debilitating of ailments that strike those trying to enjoy a day at sea.It is a peculiar malady, seemingly attacking people at random.Some of the worst boaties I have known – in terms of their ability, seamanship and knowledge of how things work – are the least affected by seasickness and can happily party on in the worst of conditions.Read more: New Zealand Herald More of our Members in the Media >last_img

CGG eyes financial restructuring amid high debts

first_imgFrench geophysical services company CGG is planning to undertake financial restructuring to improve its balance sheet as the company’s debt level is ‘too high.’According to a statement by the geophysical company on Thursday, in a market that remains difficult, multi-client sales are estimated at circa $135 million in the fourth quarter of 2016, with a level of prefunding in line with the target, a prefunding rate above 80% on an annual basis, but an after-sales volume below expectations.At the group level, the company’s 4Q revenues are expected to be the highest quarterly revenues in 2016. Net debt should amount to circa $2.315 billion as at December 31, in line with the target to be below $2.4 billion at the end of 2016.CGG noted  that, given the difficult market environment, the company, as a protective measure, engaged in discussions starting December 9 with various lenders, French and US revolving credit facilities and the Nordic loan, and they agreed on December 31, 2016, to “disapply” the maintenance covenants at that date.Debt too highIn this context, with a market environment expected to remain similar in 2017 and to continue to weigh on its revenues, the company stated it considers that the group’s debt level is too high. The company further added it intends to start discussions with all the stakeholders in their various jurisdictions in order to achieve a financial restructuring.The objective of this restructuring would be to provide the company with a level of indebtedness and cost of debt that is substantially reduced and sustainably adapted to its revenues, CGG explained. To that end, the company said it will make proposals to its creditors and to its shareholders.CGG also said that, in order to facilitate discussions with all stakeholders, the company wishes to have the ability to request the appointment of an ad hoc representative, which requires the agreement of the relevant creditors, in accordance with the various credit agreements and bond documents.Jean-Georges Malcor, CEO, CGG, said: “After the effective execution of our industrial Transformation Plan and in market conditions that are expected to remain very difficult, our priority is now to improve our balance sheet and quickly restore financial flexibility to the company.”last_img read more

MAHARLIKA BASKETBALL: Iloilo falls short to Quezon City

first_imgDown by as much as 17 points, the Royals mounted a hugefight back to come to as close as 80-82 on a basket by Russel Escoto but abasket by Capitals’ Clark Derige sealed the win for them. Iloilo United Royals’ Jasper Parker is held by the defense. MPBL John Tayongtong led the way with 20 points, five rebounds,four assists, and three steals, while Tonino Gonzaga added 13 markers as theCapitals evened its win-loss slate at 2-2. Jomar Santos also made huge contributions for the Capitalswith 12 points and eight boards, while Ramon Mabayo got 12 points, sixrebounds, and two assists. MANILA – Iloilo United Royals fell short of its fight backto suffer a close 84-80 defeat to Quezon City Capitals in the 2019-2020Maharlika Pilipinas Basketball League Lakan Cup on Saturday at the AngelesUniversity Foundation Gym in Pampanga.center_img Both teams exchanged leads early in the game with theCapitals slightly ahead at 27-25 after the first 10 minutes before they createddistance in the second period for a 45-39 halftime edge. The Capitals seemed headed to a lopsided win in the secondhalf after establishing an 80-63 edge in the fourth period but the Royalsmounted a huge run in the fourth to threaten their opponent. Escoto top-scored with 22 points, seven rebounds, fourassists, and three steals as Samboy de Leon had 17 points, nine boards, and fourdimes for the Royals which dropped to 2-1 slate./PNlast_img read more

Another tour of duty for Schrock

first_imgSolon urges Solgen to reconsider quo warranto petition vs ABS-CBN NBI, BIR , PNP raid Illegal cigarette factory run by Chinese in Pampanga MOST READ Asian Cup goal scorer Stephan Schrock has put on hold his plans to retire from international football as he joins the Philippine squad in its China training camp that includes a friendly against the Chinese national team on Friday in Guangzhou.Schrock, who skipped the training camp in Bangkok in March, was among the key returnees from the Asian Cup squad in January as coach Scott Cooper aims to put together the strongest lineup for the World Cup Qualifiers starting September.ADVERTISEMENT Still the main creative player for his club, Ceres-Negros, Schrock will link up with former club teammate Patrick Reichelt, who has been in fantastic form with eight goals so far for Melaka United in the first division in Malaysia.Schrock had hinted of retirement after scoring against Kyrgyzstan in a 3-1 loss during the group stage of the Asian Cup in the United Arab Emirates. But the midfield dynamo has decided to continue playing for the Azkals as he takes on the leadership mantle of the squad that won’t have longtime players Phil and James Younghusband. The Younghusband brothers have been without a club since last December and were not selected by Cooper.FEATURED STORIESSPORTSGolden State Warriors sign Lee to multiyear contract, bring back ChrissSPORTSCoronation night?SPORTSThirdy Ravena gets‍‍‍ offers from Asia, Australian ball clubs Rio’s unsafe Olympic Park ordered closed by Brazilian judge Taal evacuees make the most of ‘unusual’ clothing donations, leaves online users laughing View comments 11 nabbed for shabu, drug den busted in Maguindanao Olympic rings arrive in host city on barge into Tokyo Baycenter_img Gretchen Barretto’s daughter Dominique graduates magna cum laude from California college Sports Related Videospowered by AdSparcRead Next Deandre Ayton shines as Suns pound Knicks Will you be the first P16 Billion Powerball jackpot winner from the Philippines? LATEST STORIES ‘Healing’ POC meet set June 13 Don’t miss out on the latest news and information. NCRPO pledges to donate P3.5 million to victims of Taal eruption PLAY LIST 02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player award03:05Malakanyang bilib sa Phivolcs | Chona Yulast_img read more