Bourbon Secures Debt Reorganization Deal

first_imgFrench vessel owner and offshore services provider, Bourbon, has signed an agreement with its financial partners providing for the rescheduling of the maturities of €910.8 million of its financial debt.Namely, out of long- and medium-term debt totaling €692 million, €365 million of repayments due between 2016 and 2018 have been rescheduled and reduced to an amount of €63 million not repayable until 2018.The remainder of the debt, i.e. €629 million, will henceforth be repaid progressively between 2019 and 2025; the weighted average of the spreads applicable to these facilities will initially represent approximately 2.1% from October 1, 2017, then approximately 3.1% from January 1, 2020 and lastly approximately 4% from January 1, 2022.Furthermore, short term facilities amounting to €196.8 million will be refinanced and maintained at this level from 2017 to 2020 inclusive, before being repaid progressively afterwards, while €22 million in short-term credits will be maintained and repaid progressively as from 2018; the weighted average of the spreads applicable to these facilities will initially and from the completion date represent 1.9%, then 2.9% from January 1, 2020 and lastly 3.9% from January 1, 2022.In the context of such agreements, additional debts due in 2017 in an amount of €143 million will be rescheduled in order to benefit from progressive repayment until 2022, after the completion of discussions, some of which are to be finalized by June 2017.These agreements are subject to conditions precedent to be fulfilled by June 30, 2017 and is to be implemented by July 15, 2017 at the latest.“The confidence of our financial partners – on top of that of our customers and associates in the countries where we operate – is a tremendous encouragement for all those whose day-to-day efforts give life to BOURBON and prepare the innovative solutions of tomorrow in a profession facing profound changes,” said Jacques de Chateauvieux, chairman and chief executive officer of Bourbon.last_img read more

Warriors see Fairplay

first_imgThe famous Terracotta Warriors were shipped by airfreight to China after an exhibition at the Moesgaard Museum in Denmark.Fairplay Shipping said that their fame and importance, as well as being a highly respected part of Chinese culture, meant extra care had to be taken during the handling of the consignments. Over 2,200 years old, the Terracotta Warriors cannot be insured at a high enough value and had to be monitored and supervised at all times during packing and local transport in Denmark; securing onto the aircraft pallets; as well as the cargo flight from Copenhagen to Shanghai. The company carefully coordinated all cargo handling, booking, packing and transport in cooperation with its customer, which specialises in fine art and was appointed by the museum in Denmark.The project took several months of thorough advance planning to secure the permits from the airline and the Chinese authorities for the on board courier on the cargo flight. In total, the consignment weighed nine tonnes and occupied 66.27 cu m and was transported on two Air China Cargo flights directly to Shanghai.Upon arrival in Shanghai, the remaining transport from Shanghai Airport to the Shaanxi Cultural Heritage Promotion Center in Xi’an was performed by temperature-controlled trucks, specially designed to handle art.Fairplay Shipping is a member of the Project Cargo Network in Denmark.  www.fairplay-shipping.dkwww.projectcargonetwork.comlast_img read more

Volunteers needed to keep gears churning

first_imgAs International Volunteers Day was marked last week on Wednesday December 5, the Cancer Association of South Africa (Cansa is thanking those who have helped them throughout the year.Cansa, an NPO, relies heavily on its trained volunteers to help fight against cancer. “We truly value our volunteers, many of whom have personally been affected by cancer, and assist staff throughout the country to educate local communities about awareness of the signs of cancer, the importance of regular cancer screening and living a balanced lifestyle to lower cancer risk,” says Chief Executive Officer Elize Joubert.“Our volunteers also provide care and support to cancer patients and loved ones or assist with administrative or fundraising tasks. We simply would not have enough hands to deliver our service to those affected by cancer without our remarkable, dedicated volunteers.”Cansa empowers volunteers by providing suitable training. It also values the input of volunteers and recently conducted a Leader Volunteer Survey to get feedback from volunteers regarding their experience with Cansa. One of its goals based on feedback from the survey is to try harder to match volunteers to services, by taking a closer look at their past training, experience and skills.Volunteer Filale Nkwanyana says: “I would like to thank Cansa for affording me the opportunity to be part of this phenomenal organisation. Since joining, I have become aware of how deadly cancer can be and that a lot of people are not informed about the signs and symptoms of some of the common cancers. When doing the talks at the clinics and schools, I find it very fulfilling when people engage and show interest by asking questions. “I feel that I am making a difference in people’s lives. I strongly believe that the work that I do is saving lives and I need to continue educating our people about cancer.”Another volunteer, Rosalind Prinsloo, says: “Being able to help others makes me forget about my own troubles. It is a wonderful thing to be part of a support group. I love being a volunteer and to help the cause against cancer and to be part of such an organisation is wonderful.”Visit www.cansa.org.za or call Cansa toll-free 0800 22 66 22 or email info@cansa.org.za for more information. Cansaoffers multi-lingual support on WhatsApp: 072 197 9305 for English and Afrikaans and 071 867 3530 for Xhosa, Zulu, Sotho and Siswati.last_img read more

Ex-magic circle chief to steer Vannin to £70m listing

first_imgDavid MorleyDavid Morley, Allen & OveryWinning the first of three successive leadership elections at A&O in 2003, Morley was managing partner until 2008 and then served as global senior partner until 2016. During his leadership, the firm’s revenues doubled to £1.31bn and profits soared.  He retired from A&O in 2016 after 36 years.Morley said the booming global legal finance market has the potential to ’revolutionise the litigation landscape worldwide’. He added: ’I have watched Vannin’s evolution with great interest, rapidly emerging into a major dispute funder. An evolving market landscape and growing demand for dispute funding provides a robust opportunity for strong and sustained growth, for which Vannin Capital is well positioned.’Vannin, which operates in Europe, Australasia and the US, primarily funds single cases. Today’s prospectus announces that the firm’s initial offer will comprise a £70m issue of new shares and the sale of part of the shares held by existing shareholders. Part of the proceeds will be used to repay a £27m shareholder loan from a company ultimately owned by Dan Craddock, Morley’s predecessor. Craddock has today become deputy chairman.In the last five years, Vannin discloses, the funder’s share of awards or settlements has matched or exceeded its investment in 88% of concluded cases. In the year ended 30 September 2017, the group generated total income of £36.5m and operating profit (adjusted for foreign exchange fluctuations, IPO-related expenses and bad debts) of £37.7m.Vannin has made a number of heavyweight appointments in the last year as it prepares to go public. These include Richard Hextall, formerly of global insurer MS Amlin, as CEO and David Collins, formerly of Prudential, as group CFO. Vannin Capital has appointed as chairman David Morley, former senior partner at Allen & Overy, ahead of a planned listing on the London Stock Exchange. The litigation funder, formed in 2010, has also outlined plans for a £70m listing on the main market in October.The developments provide further evidence of a booming market for dispute funders. Fast-growing rival Burford is listed and other dispute funders have expressed interest in an IPO, including Manolete Partners, which focuses on taking over claims from liquidators of insolvent companies.last_img read more

Timber wagons ordered

first_imgRUSSIA: UniCredit Leasing has awarded United Wagon Co subsidiary TikhvinSpetsMash a contract to supply 50 timber wagons for use by Luzales, one of the largest logging companies in the Komi Republic.An initial 30 Type 13-6895 cars are to be delivered by the end of the third quarter of 2019, with 20 Type 13-6852-02 cars to follow in the first half of 2020.Both types have 25 tonne axleload bogies. The Type 13-6895 has a capacity of 72·5 tonnes and loading length of 18·2 m, meaning it can carry a load up to 40% greater than older designs while remaining within a short wheelbase tariff. The 13-6852-02 has a loading length of 12·2 m and a capacity of 74 tonnes.Both types are designed to significantly reduce the amount of unused space and protect the load from damage. The centre sill and side beams facilitate inspection and maintenance, and the floor is designed for easy cleaning of the platform and to prevent freight residues from falling onto the track.‘Our company is working hard to introduce state-of-the-art equipment and technologies into its production processes’, said Luzales CEO Valentin Rozhok. ‘Putting this innovative policy into action allows the company to be at the forefront of the industry in the Komi Republic. Without a doubt, the new fleet of UWC platforms will strengthen further our position in the market.’last_img read more

Drigo refutes ‘political fertilizer ploy’ claims

first_img Sharing is caring! Share LocalNews Drigo refutes ‘political fertilizer ploy’ claims by: Dominica Vibes News – December 21, 2015 Share Tweetcenter_img 216 Views   no discussions Share Agriculture Minister, Johnson Drigo (file photo)Agriculture Minister, Johnson Drigo has rubbished claims that the government is using fertilizer as a political ploy. The fertilizer being distributed to farmers is made possible through the Banana Accompanying Measures (BAM) following the passage of Tropical Storm Erika.There have been claims by some farmers that the fertilizer is being distributed only to farmers who support the government.“The Ministry of Agriculture is on a mission to help farmers get back on their feet. Every bag of fertilizer that the Ministry receives belongs to farmers and will go to farmers,” Drigo stated at the annual Minister’s Food Basket on Friday 18 December 2015.“With response to the Banana Accompanying Measures, who pledged 20,000 bags of fertilizer to Dominica, only 2800 bags of that fertilizer have arrived so far,” Drigo continued.Minister Drigo added that the ministry took a decision that this fertilizer would be distributed to the North, North East Zones.“The ministry prepared a list of every farmer deserving of receiving fertilizer, the entire list was approved and the ministry will continue to distribute that fertilizer,” he said.Minister Drigo further informed that an additional 5000 bags is expected to arrive here next month.“The Ministry will decide where that fertilizer is distributed. I want to reiterate that out of the 20,000 bags of the BAM fertilizer, only 2800 bags have arrived”.Mr Drigo further indicated that the mission of the Ministry of Agriculture is to increase production and in January some new programs will be unveiled with additional support of funding from the government.“We will be making available also assistance of persons going into the commercial aspect of the Abattoir. These persons will be able to access funds from the AID Bank to move that part of the sector forward,” Drigo stated.last_img read more

UPDATE: Maxfield Training Center developer shifts gears

first_img Reported by Farmington Voice Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Pinterest (Opens in new window) AC Acquisitions, the new owner of the Maxfield Training Center property in downtown Farmington, has asked for a reduction in the purchase price after making some big changes to its development proposal.Farmington Schools officials will get a look Tuesday at new plans for the Maxfield Training Center site.After significant opposition from neighbors, the company has abandoned plans for more than 150 luxury rentals in favor of 60 multi-story, owner-occupied condominiums. In a memo to Farmington Public Schools trustees, Director of Facilities Management Jon Riebe said the request for a lower purchase price is tied to the reduction in density and return on investment.“…they are requesting that the District to reduce the price down to $1.0 million from the original $1.2 million. Their original request was a $900,000 offer, but the District was able to negotiate the price to $1.0 million which includes demolition.”Great Northern Consulting Group, the District’s property consultant, called the reduction “reasonable,” Riebe added.UPDATED: The original purchase was contingent upon the developer getting city approvals. Farmington Economic and Community Development Director Kevin Christiansen said Monday that a significantly revised plan will mean another Planning Commission public hearing, where residents will have the opportunity to comment.Officials will discuss the action during their Tuesday, Mar. 13 meeting, which begins at 6:30 p.m. in the Board Room at the Lewis Schulman Administrative Center, 32500 Shiawassee in Farmington. Also on the docket:An update from the Sex Education Advisory Board, including approval of new membersInformation about a public hearing for the annual budgetApproval of a new elementary math curriculum, Everyday Mathematics 4, including an allocation of $727,970.15 from the General Fund for materialsAward of a $526,104 bid package for construction work at Beechview and Kenbrook Elementary SchoolsTo view the full agenda and supporting materials, visit farmington.k12.mi.us.Keep up with this story and all local headlines– sign up for our daily (except Sunday) emails.last_img read more

5G-NR Compatible Spectrum Analyzers for R&D & Production Environments

first_imgToday, manufacturers of RF components, transmitters and modules are facing complex measurement tasks on wideband RF signals and tight time-to-market requirements. With the advances of 5G NR technologies, engineers now need to analyze wireless communications signals in R&D and production with test solutions supporting 5G bandwidth and RF requirements.Rohde & Schwarz has introduced two new signal and spectrum analyzer families, with different frequency models covering up to 44 GHz.The R&S FSV3000 is designed to help users set up complex measurements in the simplest and fastest way possible. With its easy usability and high measurement speed, it is the right instrument for labs and production lines. It provides up to 200 MHz analysis bandwidth – enough to capture and analyze, for example, two 5G NR carriers at once.The R&S FSVA3000, with up to 400 MHz analysis bandwidth, a high dynamic range and an outstanding phase noise of –120 dBc/Hz, delivers performance that was, until recently, reserved for high-end instruments. It enables users to perform highly demanding measurement applications such as linearizing power amplifiers, capturing short events and characterizing frequency agile signals.Both analyzers can measure EVM values better than 1 % for a 100 MHz signal at 28 GHz. Together with the coverage of the 5G NR frequency bands up to 44 GHz, this makes the analyzers ideal for analyzing 5G NR signals. They simplify troubleshooting rare events and setting up complex measurements. With the event based action GUI, whenever a predetermined event occurs the corresponding action, such as saving a screenshot or I/Q data, is performed.Auto measurements shorten the setup time of the instrument itself. At the press of a button, parameters such as center frequency, span and amplitude reference are automatically set based on the applied signal, and in the case of a pulse signal, the gate sweep parameters are set. For standard-compliant measurements such as ACLR or SEM, the auto measurement feature selects the corresponding standard parameter table. In scenarios with automated production lines with complex measurements, external computers can take over the control of the instruments via SCPI commands.Furthermore, the embedded SCPI recorder makes it much easier to create executable scripts, since all manual input is translated into plain SCPI or into the syntax of common programming languages or tools such as C++, Python or MATLAB.R&S FSV3000 and the FSVA3000 provide a smart signal generator control that assists in RF measurement setups containing a signal generator from Rohde & Schwarz. Changes in the analyzer settings are directly taken over by the generator, and the analyzer can even display the user interface of the generator so that users can operate the complete setup from one screen. SCPI recording functions of the analyzer and the generator can be coupled. Both are designed for high-speed performance in automated test systems. Both perfectly interact with cloud based processing. The optional 10 Gbit/s LAN interface enables I/Q data transfer toward the network end even at high sample rates, which is required for wideband signal analysis such as for 5G.last_img read more

45 Degree PCB Mount SMA Connectors for Test and Measurement

first_imgCinch Connectivity Solutions has added a 45° PCB mount connector to their SMA connector series. This type of connector is commonly used in test and measurement applications, semi-conductor testing fixtures, PC board characterization, and networking applications.Cinch Connectivity Solutions’ 45° PCB mount SMA connector is designed to provide excellent performance up to 18 GHz, with a maximum VSWR of 1.30:1 up to a frequency of 12 GHz and a VSWR of 1.50:1 for 12 GHz to 18 GHz frequency. 45° connectors are commonly used for mid-board launch in tight enclosures and board to board applications, where height and width restrictions do not allow for vertical mount or end launch connectors.Cinch Connectivity Solutions is a global manufacturer of a wide range of connectivity products and services for wireline and wireless communications, 5G, data networking, test & measurement, military, medical, broadcast and industrial applications. Their brands include AIM-Cambridge, Johnson, Midwest Microwave, Semflex, Stratos, Trompeter, Viewsonics and Vitelec, each having established a proven track record of innovation and excellence in signal integrity.Click here for more information on the 45° Johnson SMA connector.last_img read more

Calama-an, NU Bullpups compete in ASEAN games

first_imgMANILA – Ilonggo Ryan Calama-an will have his dream of representing the Philippines fulfilled as he joins the National University Bullpups squad that will compete in 9th ASEAN School Games from July 13 to 21 in Singapore.A native of Leon, Iloilo, the power forward got the go-signal to join Filipino representatives in the annual juniors basketball event after securing his visa.“Pangarap ko po talagang ma-represent ang country sa ibang bansa kaya’t thankful ako na napabilang ako sa team ng NU Bullpups na lalaban sa ASEAN School Games,” Calama-an told Panay News.As a team newcomer, the former Santa Clarita International High School Primes standout said he is willing to take any role that new Bullpups head coach Goldwin Monteverde will assign him.“Of course, I know hindi naman agad ako bibigyan ng malaking role since may mga veterans din sa team,” Calama-an said.“But I am willing to work my way. Alam ko po na darating din ang time ko sa team,” he added. “Being included in the team is already an achievement kaya gagawin ko ang lahat para mag-stay dito.”Calama-an was recruited to Bullpups after playing a key role for the Western Visayas Regional Athletic Association basketball team that finished as a runner-up in the secondary boys’ basketball in the 2017 Palarong Pambansa in April in Antique province.Calama-an was also a member of the Iloilo basketball squad that took home the championship in the Visayas leg and silver in the national level of the Batang PBA tournament last year./PN [av_one_full first min_height=” vertical_alignment=” space=” custom_margin=” margin=’0px’ padding=’0px’ border=” border_color=” radius=’0px’ background_color=” src=” background_position=’top left’ background_repeat=’no-repeat’ animation=”][av_heading heading=’Calama-an, NU Bullpups compete in ASEAN games’ tag=’h3′ style=’blockquote modern-quote’ size=” subheading_active=’subheading_below’ subheading_size=’15’ padding=’10’ color=” custom_font=”]BY ADRIAN STEWART CO[/av_heading][av_textblock size=” font_color=” color=”]Tuesday, July 4, 2017[/av_textblock][av_image src=’http://www.panaynews.net/wp-content/uploads/2017/07/Untitled.jpg’ attachment=’110641′ attachment_size=’full’ align=’center’ styling=” hover=” link=” target=” caption=’yes’ font_size=” appearance=’on-hover’ overlay_opacity=’0.4′ overlay_color=’#000000′ overlay_text_color=’#ffffff’ animation=’no-animation’]Ryan Calama-an (pictured) and his fellow NU Bullpups will represent the Philippines in the 9th ASEAN School Games in Singapore. IAN PAUL CORDERO/PN[/av_image] [av_textblock size=” font_color=” color=”]center_img [/av_textblock][/av_one_full]last_img read more