TORMs Profit Dwindles due to Weaker Rates

first_imgzoomImage Courtesy: TORM Danish shipping company TORM saw its earnings drop in the first quarter of the year, driven by weak freight rates.TORM delivered a revenue of USD 163.1 million in the first quarter ended March 31, 2018, compared to a revenue of USD 172.8 million reported in the same period in 2017.The company’s profit for the period decreased to USD 1.1 million from USD 4.8 million seen a year earlier. TCE rates were at USD 14,225 per day, down from USD 15,264 per day in the first quarter of 2017.TORM said that in the first quarter of 2018, product tanker freight rates stayed relatively flat at levels slightly below the levels seen in the second half of 2017.“We remained profitable in the first quarter of 2018 despite a muted freight rate environment, as the One TORM platform continues to deliver strong commercial results,” Jacob Meldgaard, Executive Director, said.Following the end of the first quarter, TORM exercised options for the construction of three high specification MR newbuildings for a total commitment of USD 93 million and with expected delivery in 2019 through the first quarter of 2020 and secured commitment for attractive vessel financing of up to USD 63 million, subject to loan documentation.During the quarter, the company took delivery of two LR2 newbuildings, while a third LR2 newbuilding was delivered in April 2018.last_img read more

Publicly thrash those insulting Veer Savarkar says Uddhav

first_imgMumbai: Those who do not respect Veer Savarkar should be thrashed publicly in chowks, Shiv Sena chief Uddhav Thackeray said on Friday, a day after the student wing of the Congress claimed it blackened the freedom fighter’s bust in the Delhi University. Thackeray said public thrashing of those insulting Savarkar, a revered figure in Maharashtra, will make them understand the value of freedom. “Those who do not respect Savarkar should be once thrashed publicly, in chowks (square). Till then they will not realise who had toiled to what extent to attain freedom for the country,” Thackeray told reporters here. Also Read – Uddhav bats for ‘Sena CM’ “These people, who insulted Savarkar — whom Rahul Gandhi too had insulted — will not understand value of freedom till then,” he added. The Congress-affiliated National Students’ Union of India (NSUI) had on Thursday said it blackened the bust of Savarkar while garlanding those of Bhagat Singh and Netaji Subhash Chandra Bose, installed by the ABVP-led Delhi University Students’ Union (DUSU) at the Delhi University. The DUSU had installed these busts outside the Arts Faculty building on Tuesday. The NSUI and the Left-backed All India Students’ Association had criticised the move, saying Savarkar cannot be kept on the same pedestal as that of Bose and Singh.last_img read more

Labrador Innu angry as Quebec wildlife officials seize caribou gift

first_imgMONTREAL — Labrador Innu say caribou meat seized this week by Quebec wildlife officials was a gift from Quebec Cree intended for ceremonial purposes.A statement from the Innu Nation said members from the northern Labrador community of Natuashish, including Innu Nation Grand Chief Gregory Rich, were stopped in north-central Quebec Tuesday as they drove home from Chisasibi.The group was fined but of greater frustration was the seizure of the caribou, which they said in a statement is important to “Innu cultural and spiritual survival.”They had a letter from the chief of the Chisasibi Cree declaring the caribou meat, packed into coolers, was a gift. They hoped the letter would allow them to transport the meat home.Rich called the behaviour by wildlife officers colonial.“The practice of historical sharing between the Cree and the Innu of what is now Labrador goes back to long before the assertion of sovereignty by the Crown,”  he said in the statement.The Innu said the caribou came from the Leaf River herd. Quebec’s Wildlife Department stated in February that the herd’s numbers have dropped sharply since the early 2000s. Sport hunting was closed in February and Indigenous harvesting is subject to monitoring.Chisasibi Chief Davey Bobbish said he extended the letter as a courtesy after Rich requested it Monday. He said he warned the Innu he could not guarantee the letter would work if they were stopped by authorities.“The bottom line is other than the beneficiaries of the James Bay Agreement — the Cree, the Inuit and the Naskapi — no one other than those three nations is allowed to possess caribou according to interpretation of the Quebec legislation,” Bobbish said in an interview.He said the Cree have recently opened talks with Innu on Quebec’s lower north shore about a possible protocol allowing the Cree to conduct a traditional harvest for the Innu, who are facing dwindling caribou populations in their region.Rich noted in the statement that Innu and Cree have many blood relationships, and he said traditional law supports offering caribou as a gift between the groups.He was not immediately available to comment Wednesday, but he told CBC’s Labrador Morning he intends to consult lawyers about the legality of the seizure.“It hurts to know that game wardens don’t respect our ceremonial and spiritual purposes of the caribou,” Rich told the show. “They told us it was illegal and that we were carrying an illegal meat.”Rich said the wildlife officers had a warrant to seize the meat, and they did not accept Bobbish’s letter as a defence.“The letter was done out of kindness because they were in the community already and they asked if they could use my letter as a shield to protect their meat,” Bobbish said. “But without any agreement, Quebec doesn’t recognize one chief’s authority to another First Nation.”Quebec Wildlife Department officials said they are aware of the incident, but they declined comment.Sidhartha Banerjee, The Canadian Presslast_img read more

Aspires Interweave Acquires Craft Enthusiast Web Site

first_imgCraft and arts publisher Interweave—a unit of Loveland, Colorado-based Aspire Media—has acquired from its developer, Kim Werker, the former editor of Interweave Crochet magazine.  Financial terms of the deal were not disclosed.Unrelated to the sale, Werker, who made the reverse jump from online to print in 2007, has resigned as editor of the magazine. Werker will remain with as a blogger and creative consultant, Interweave said.Werker launched in 2004. The site will join Interweave’s portfolio of online properties in its fiber craft division. In June, Interweave acquired four arts-related magazines—including American Artist—from Nielsen Business Media.last_img

Bumblebee now on Digital HD Every way to watch the Transformers movie

first_img 0 20 Photos Now playing: Watch this: Tags Post a comment Share your voice Hailee Steinfeld stars alongside Bumblebee in the latest Transformers movie. Jaimie Trueblood Bumblebee, the latest Transformers movie, got high praise during its box office run. Its Metacritic score of 66 with generally favorable reviews placed it way higher than 2017’s Transformers: The Last Knight, which had a score of 27 for generally negative reviews.CNET’s review called it “the Transformers movie we’ve been waiting for,” and now it’s playing at home on Digital HD.Disclaimer: CNET may get a share of revenue from the sale of products featured on this page.The film — starring Hailee Steinfeld, John Cena and Jorge Lendeborg Jr. — is now on digital stores including iTunes, Google Play, Vudu, Amazon, Fandango Now, Microsoft Movies & TV and the PlayStation Store. Take note that Bumblebee is not available through the Disney-owned Movies Anywhere service as of this writing, so be sure the digital store you choose is available on all of the devices you want to watch it on. If you would like a physical copy of Bumblebee, you’ll have to wait until April 2 to grab it on 4K Blu-ray, standard Blu-ray and DVD.See Bumblebee at Best Buy 1:34 Bumblebee transforms from action-packed to adorable ’90s sci-fi movies that still hold up TV and Movieslast_img read more

BarrettJackson just sold a 1997 Toyota Supra for 176000

first_img Toyota Share your voice 9:55 2020 Toyota Supra review: A solid sports car that’s rife with controversy Audi Toyota Classic Cars Car Culture 2018 Dodge Challenger SRT Demon: Holy hell Comment 1 47 Photos The 4th generation Toyota Supra becomes a performance icon 2020 BMW M340i review: A dash of M makes everything better Tags The new Toyota Supra feels suspiciously like a BMW Z4 Now playing: Watch this: More From Roadshow Enlarge ImageThis black beauty set its new owner back a staggering $176,000 at auction. Barrett-Jackson People are Supra crazy right now. Specifically, they’re mad for the Mark IV car that was built in the 1990s and early 2000s and immortalized in The Fast and the Furious. Auction prices for these cars have been going through the roof, commanding prices once demanded almost exclusively by muscle cars or European classics. Now though, Supra prices might be headed even higher if the recent sale of a 1997 Anniversary Edition car by Barrett-Jackson is any indicator.How much did this Supra sell for? Well, hold onto your butt because it sold for $176,000 in a no-reserve auction. Just for some context, that car cost approximately $39,900 when new, which with inflation works out to around $63,664 today.So what was it that makes this particular Supra so unique that it would command a price similar to a base-model Audi R8? Rarity, for one. The Anniversary edition was only made in 1997. Next, this car has a targa roof (like the orange car in The Fast and the Furious), of which there were only 376 made in this car’s particular color. Next and maybe most importantly, it’s got a manual transmission.It’s also got low-ish miles – just under 70,000 on the clock — and is also a two-owner, almost totally stock car. That last bit is especially important since many of these cars were modified to the gills when their values weren’t so high.Barrett-Jackson didn’t respond to Roadshow’s request for comment.last_img read more