Yangzijiang Shipbuilding Confirms New Orders

first_imgYangzijiang Shipbuilding (Holdings) Ltd. has managed to secure new shipbuilding orders of four 208,000 DWT bulk carriers with options for two identical vessels. Furthermore, there are thirteen options consisting of five 82,000 DWT bulk carriers, three 64,000 DWT bulk carriers and five 10,000TEU containerships converted into effective orders in September 2013.The total contract value of the above mentioned seventeen new contracts is approximately $871 million.The 17 new effective contracts are scheduled for deliveries from 2015 to 2016, and therefore will not have any significant impact on the earnings of the Group for the financial year ending 31 December 2013.In 3Q2013, the Group had secured a total of twenty five effective shipbuilding contracts with an aggregate value of $1.085 billion. Year to date, a total of fifty two shipbuilding contracts amounting to $ 2.096 billion have come to effect.As of the announcement day, the Group has a total of 28 options outstanding worth total of $ 1.36 billion entered into with its respective buyers, of which 11 options are for containerships worth $0.85 billion and 17 options are for multi-purpose bulk carriers worth $0.51 billion. [mappress]Press Release, October 1, 2013last_img read more

Egyptian National Railways puts first TMH coaches into service

first_imgSecond class, with air-conditioning180 Third class, with forced ventilation500 Egyptian National Railways coach order First class, with air-conditioning90 Third class, with air-conditioning500center_img EGYPT: The first of the modern coaches supplied by Transmashholding’s Tver plant in Russia as part of an order for a total of 1 300 vehicles of five types have entered service with Egyptian National Railways, the manufacturer announced on August 14.#*#*Show Fullscreen*#*# ENR has now taken delivery of a total of 33 vehicles, including a prototype used for testing and certification. A further 175 are scheduled to follow by the end of the year.The third class coaches are being used on services from Cairo to Alexandria (208 km), Asyut (380 km) and Sohag (473 km). They have 88 seats, forced ventilation, two toilets and LED lighting, with the bolsterless bogies have a two-stage leaf spring suspension and Knorr-Bremse pneumatic braking systems.According to the manufacturer the coaches ‘fully comply with safety regulations while providing modern level of comfort’, and have a design life of 40 years in the Egyptian environment.The order for 1 300 coaches worth more than €1bn was signed in September 2018, financed by the Hungarian and Russian export-import banks. Production is being divided between TMH Tver (620) and the Dunakeszi plant in Hungary (680) which was recently acquired by a 50:50 joint venture of TMH and its local partner Magyar Vagon. The first of the Hungarian built coaches are scheduled to be delivered by the end of the year. Second class, with air-conditioning and buffet30last_img read more

Britain adds Nigeria’s naira to list of accepted trade currencies

first_imgFILE PHOTO: A man counts the Nigerian naira at a currency exchange market in Ikeja district in Lagos, Nigeria August 12, 2017. REUTERS/Akintunde Akinleye/File Photo FILE PHOTO: A man counts the Nigerian naira at a currency exchange market in Ikeja district in Lagos, Nigeria August 12, 2017. REUTERSBritain’s export finance agency is set to add Nigeria’s naira to its list of pre-approved currencies.The move will allow the agency to finance transactions with Nigerian businesses in the local currency.The naira will become one of three West African currencies that UK Export Finance has pre-approved.Analysts have welcomed the impact of the financing option on the local currency. However, they say the move may increase Nigeria’s liability as trades mature for settlement.Analysts also question the rate at which funds would be disbursed, since local interest rates are in high double-digits.The naira financing will follow the same structure as someone buying in sterling, except that Nigerian firms taking out a loan in the local currency can benefit from a UK government-backed guarantee, Reuters said.Britain in 2016 voted to leave the European Union, forcing London to rethink its trade ties with the rest of the world.last_img read more

Brown receives Miss Soccer award

first_imgWESTERN BUREAU:Reggae Girl Jody Brown was officially presented with another major award to add to her growing list of accolades, this time the Florida Dairy Farmers Miss Soccer title.The 17-year-old, who was instrumental in Jamaica becoming the first Caribbean team to qualify for the FIFA Women’s World Cup, was honoured earlier this year in her absence while on World Cup preparation duties for Jamaica, and was only able to officially collect the award last week. Brown’s honour came in light of her outstanding performance during the season which enabled her school, Montverde Academy to become back-to-back high school state champions. Brown will also be honoured with an image in the school gym on a banner, much like NBA stars R.J. Barrett and D’Angelo Russell.“I am really excited to receive this award and to be recognised,” the teenager said.Brown, who was also the recipient of the 2018 Female Athlete of the Year for Montverde, began her final year at the institution earlier this month, and is expected to play a key role in the upcoming football season. She will head back to Jamaica late September to play in the Women’s Olympic Qualifiers. Girls football coach and director of Montverde International Football Club Robbie Aristodemo said he was looking forward to Brown playing a leadership role and mentoring in the upcoming schoolgirl football season.“Jody has proven over the last two seasons that she has the ability to score goals in the big games,” he said. Both years, she has scored the decisive goal that has propelled our programme to state championships. She is a dynamic player that has speed, quickness and a good understanding of positions, movement and integrating within a system.” Start developing He added that his expectations for Brown in her senior year was to see her start developing more as a leader and mentor to the younger players, to continue to grow as a footballer, developing on the field and constantly trying to raise her own bar. “The sky is the limit if she continues to push the envelope,” he said.The Florida’s Dairy Farmers High School Sports Awards is the longest-running sports awards programme in the United States (US). Since 1992, the programme, which recognises all 30 Florida High School Athletic Association-sanctioned and recognised sports, has honoured more than 5,000 of the state’s top student athletes and coaches. Some of the past winners have gone on to excel at the collegiate and professional levels, as well as represent the US in the Olympic Games. [email protected]last_img read more