News / HMM joining 2M alliance may not be a done deal after all, post-Hanjin

first_img In the wake of the bankruptcy of South Korea’s Hanjin Shipping, compatriot Hyundai Merchant Marine (HMM) joining the 2M alliance may not be a done deal after all, according to Alphaliner.HMM was notably excluded from the 13 May announcement of THE Alliance grouping of Hanjin, Hapag-Lloyd (now including UASC), K Line, MOL, NYK and Yang Ming, as it was in the midst of financial restructuring.But HMM’s creditors demanded the carrier’s inclusion in a major alliance as one of the conditions of their continued support and HMM signed an MoU [memorandum of understanding] with Maersk Line and MSC on 14 July to join the 2M in April 2017, after its membership of the G6 alliance expires.The surprise signing of the so-called 3M MoU completed HMM’s voluntary agreement restructuring and resulted in a debt-for-equity swap with creditors.However, the demise of Hanjin is described by Alphaliner as a “game changer”, prompting a possible rethink of strategy by the 2M partners and HMM.The analyst noted that there had been hints from MSC – specifically referring to a comment in Hamburg last week by Caroline Becquart, MSC’s senior vice president and head of Asia network and vessel sharing agreements.Ms Becquart is reported to have said: “The memorandum of understanding is only a paper to agree to discuss. We are still in negotiation.”Indeed, this is also the view of a UK contact close to the situation at Felixstowe, who told The Loadstar yesterday: “Don’t hold your breath on HMM joining 2M.”And Alphaliner said: “So far, the 2M carriers are most aggressive when it comes to the deployment of additional capacity to cater for Hanjin’s former customers.”The analyst said the 2M’s new TP-1/Maple transpacific service – introduced to target distressed Hanjin shippers – would deploy ships of 7,800-9,400 teu, which are significantly larger than the 5,000 teu vessels originally announced.The view in Copenhagen and Geneva could well be that the primary rationale for HMM’s acceptance into the 2M – increased transpacific market share – has changed, given that the 2M partners are already grabbing a big chunk of the spoils of Hanjin’s sudden exit.However, post-Hanjin, HMM is in a much stronger position – to all intents and purposes, it has now become the “national” line of South Korea, given that it is majority owned by the state-owned Korea Development Bank (KDB).The South Korean economy remains heavily dependent on exports, and world manufacturing titans such as Samsung and LG were loyal supporters of Hanjin, with the former shipping around 40% of its products with the carrier and the latter 20%.Meanwhile, Hanjin’s collapse has dented the market share of THE Alliance. According to Alphaliner data, the five remaining members will have a combined market share of 28% on the transpacific trade and 23% on Asia-Europe, compared with 35% and 28% with Hanjin’s capacity contribution.Ironically, having excluded it from membership originally, THE Alliance partners could now be making overtures to HHM: the line could find itself top prize in a beauty contest. By Mike Wackett 21/09/2016last_img read more

Have enough money for the retirement life you want

first_img 1SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Retirement planning is full of uncertainties: How long will you want to or be able to work? How many decades can you expect to live? What will happen in the markets in the meantime?by. Donna Rosato and Penelope WangOne way to fill the knowledge gap is with rules of thumb, nuggets of conventional wisdom, or one-size-fits-all retirement products. Do a quick Google search and you’ll find easy answers to how much you should save for retirement and how you can safely spend it. Meanwhile, mutual fund companies will happily sell you a single fund that offers a simple plan for investing your nest egg.Too easy and too simple, says Michael Kitces, a financial planner and director of research at Pinnacle Advisory Group in Columbia, Md. “We rely too much on rough guidelines or underdeveloped knowledge instead of rigorous analysis,” he says. Kitces is one of a group of big thinkers you’ll meet in this story who say that you can do better.Calculator: Can you retire early?New ideas about retirement are especially urgent now. Today’s markets may not be priced to deliver high returns to retirees or those in their peak savings years; at the same time, the cost of health care in retirement keeps rising. continue reading »last_img read more

Preemies at high risk of autism don’t show typical signs of disorder in early infancy

first_imgEmail Share on Facebook LinkedIn Share Pinterestcenter_img Share on Twitter Early intervention can benefit children with autism spectrum disorder. However, while signs of autism have been observed in infants as early as two to six months of age, the disorder is difficult to diagnose before age 2.In the new study, the researchers observed behavioral symptoms characteristic of autism in a particularly high-risk group of young children: those born prematurely. Observing early behaviors may give researchers and clinicians indicators to look for early in life so they can recommend timely diagnostic testing and interventions to improve a baby’s adaptive responses and outcome.The researchers evaluated 62 premature infants hospitalized in the neonatal intensive care unit (NICU) at St. Louis Children’s Hospital. The infants were born at least 10 weeks before they reached full term and were evaluated close to the dates they were supposed to have been born.The researchers focused on whether the infants made eye contact or averted their gazes; responded to objects or people around them; interacted socially; and calmed themselves when upset. They also looked at whether the babies exhibited a horizontal repetitive eye movement called nystagmus.Of the 62 preemies, 58 were observed for visual cues; the others were asleep during visits from the researchers. Of those 58 babies, 41 averted their gazes, and 21 showed nystagmus. Nearly all of the infants with nystagmus — 19 — also averted their gazes.When the babies in the study were screened for autism at age 2, using a recognized screening checklist for autism in toddlers, 13 — or 21 percent — screened positive. A positive finding indicates a child is at risk and should receive diagnostic testing. The researchers were surprised to find that many of the babies who had averted their gazes and showed signs of nystagmus as infants did not display warning signs of autism at age 2.“Surprisingly, we found that the children who later screened positive for autism were more likely as infants to not avert their gazes during social interaction,” Pineda said. “They were more likely to sustain eye contact.”Pineda speculated that premature infants in the NICU may avert their gazes as a coping mechanism to help them deal with the stress of an intense environment during a vulnerable period of development. So absence of gaze aversion, she said, could signal an inability to avoid stressors.“This could explain why some infants behave differently in social interactions as babies than later, as children,” Pineda said. “Better understanding how autism traits emerge along the developmental pathway is an important area for future research.”With nearly one in 68 children in the U.S. diagnosed with autism, according to the Centers for Disease Control and Prevention, Pineda and her colleagues hope the new study will motivate researchers to better define differences in development across the lifespan, including the neonatal period.Screening tools for autism spectrum disorder don’t exist for infants, but research is needed to improve understanding of how autism traits emerge, she said. This would help pave the way for early interventions aimed at improving life skills and allowing those with autism to lead more productive lives. Premature babies are at an increased risk for developing autism spectrum disorder. But a small study indicates that preemies who avoid eye contact in early infancy are less likely to demonstrate symptoms of autism at age 2 than preemies who maintain eye contact during early interactions, according to new research at Washington University School of Medicine in St. Louis.“Children with autism typically have challenges with social interaction and may avoid eye contact, but it turned out that children in this study who had characteristics of autism at age 2 were more likely to maintain eye contact and not avert their gazes in early infancy,” said first author Bobbi Pineda, PhD, assistant professor in occupational therapy and in pediatrics.The research is available in the July/August issue of The American Journal of Occupational Therapy.last_img read more

SAL: ‘Toughen up’ in 2016

first_imgSAL foresees a challenging market in 2016 as projects continue to be cancelled or deferred, and project freight carriers will have to “toughen up to be capable of withstanding the fights that will inevitably come”.SAL said that despite a short uptick at the start of 2015, the shipping market plummeted over the course of the second half of 2015 hitting the heavy lift, breakbulk, container and bulk sectors. The positive start to 2015 pointed to better utilisation factors for the MPV/project carrier fleets, but a sting in the tail came in the form of low oil prices, leading to an unprecedented downturn in the offshore sector.Geo-political unrest and stagnating global economic growth also contributed to the downturn, said SAL. However, according to the company’s chief operating officer Toshi Yamazaki, the most deteriorating factor is an oversupply of vessels in the market, which led to an “evil spiral” on freight rates. “With the steady supply of new built vessels we have seen, it is my opinion that many has been built without thoughtful consideration. This I see as a main cause to the troubled conditions,” he observed.Many owners have seen their margins squeezed, despite lower bunkering prices, as the supply of vessels significantly exceeds the volume of cargo offered in the market.Yamazaki added that on a macroeconomic level, ship owners have no influence and the challenge is to adapt the business to the market conditions: “We continue to see that the expectations of our clients are high and that the demand to scope of service rise, despite the more fierce competition in general.”Some may feel that they have to shave their offering in order to maintain a competitive edge, others maintain or set to develop even higher standards and seek out the businesses where the service scope matters as much as price. SAL belongs to the latter pool.”The markets are constantly changing; fleets from rival sectors are competing for cargoes were revenues can still be earned, said SAL. The offshore sector has seen a number of vessels originally destined for oil and gas projects now venturing wind and renewables. The MPV/project carrier segment has seen a similar trend by the entrance of bulk carriers and other vessel types. When price and position are key attributes for working in spot markets, those with smaller fleets become exposed.Yamazaki believes that SAL’s strategy of mastering its complex niche will pay off in the long term, enabling it outperform the market. “With the challenged times in shipping, it is necessary to identify niches a shipping company successfully can operate in,” he claimed. “I think that the fleets that remain focused to their core business and competences, and which man- age their costs well, will be able to navigate through 2016, what in my view will be a time of troubled waters.”Those core competencies were demonstrated across a number projects executed by SAL Heavy Lift during 2015. HLPFI reported in September 2015 that Lone shipped six units of heavy project cargo, weighing a total of 2,219 tonnes, for a refinery and petrochemical complex project in Vietnam.Earlier in 2015, Svenja was chartered by Crowley for the installation of the development platform within the Kitchen Lights Unit #3 (KLU) – a petroleum exploitation area of Deutsche Oel & Gas, spanning 337 sq km, in the Cook Inlet off the coast of Alaska.  www.sal-heavylift.comlast_img read more

“Robust” Security for CiTP and WCMF

first_img Share Sharing is caring! Tweet Share Sharecenter_img 207 Views   no discussions EntertainmentLocalNews “Robust” Security for CiTP and WCMF by: – October 22, 2019 The police are taking their job to protect life and property very seriously especially this week as independence events heat up.FLOW’s Creole in the Park kicks off today and police want patrons to be informed and safe.Assistant Superintendent pf Police, Leanna Edwards, says security will be at the fore for the duration of the event.The police will be conducting robust searches of al patrons entering the venue and no weapons will be permitted. We will be firm with patrons carrying offensive weapons such as knives, cutlasses, scissors, ice picks, nails files and utility multi-tools etc. Any one found carrying these weapons will e removed from the venue and dealt with according to law. Licensed firearms holders will not be allowed to access the venue with their firearms,” she said.There will also be police patrols in the park.For the World Creole Music Festival on Friday, Saturday and Sunday evenings, Superintendent Richmond Valentine says a Venue Operating Centre will be installed to manage security and ensure the safety of guests.He explained, “A senior police officer will be the team leader which also comprises a medical official, a representative of the Fire & Ambulance Service, a representative of the Office of Disaster Management, a communications officer and a diarist.”He says the entire festival grounds will be policed in zones each led by a ground commander.Guests will be screened and given an entry band after they present authentic tickets.The police acknowledge that at this time, criminals abound and so law enforcement want locals to act responsibly.Superintendent Davidson Valerie who leads the Criminal Investigations Department says all officers will be deployed; there will be increased foot and mobile patrols as well as more response teams at the ready.The cooperation of the public however remains a critical factor in deterring crime.“Please be responsible for your personal safety and security as well as that of your property. Ensure that your homes and hotel rooms are properly secured before leaving. Secure your vehicles in safe, well-lit locations. Do not leave items in your vehicles to attract the opportunist thief; you should secure all your items in the back or the boot. Exercise moderation when wearing jewelry. When you walk in isolated areas, ensure that you are in the company of others. If you have to use the ATM, do not do so at late hours by yourself,” Superintendent Valerie listed.last_img read more

Fulham denied victory by late Cardiff goal

Follow West London Sport on TwitterFind us on Facebook Fulham 1 Cardiff City 1Ryan Sessegnon netted 15 minutes from the end but Fulham are still looking for their first home win of the season after shipping a late equaliser.AdChoices广告The teenager was in just the right place to sweep home past Cardiff keeper Neil Etheridge after Floyd Ayite’s shot, blocked by defender Sean Morrison, fell perfectly to him.But Bluebirds sub Danny Ward powered home a close range header eight minutes later to salvage a point for the table-topping visitors.Ward had only been on the field 10 minutes, with the assist coming from fellow-sub Liam Feeney, the former Hayes & Yeading winger, who himself had only been sent on four minutes earlier.In a frantic finish, Feeney clipped the bar with what looked like an intended cross, but defeat would have been very harsh on Slavisa Jokanovic’s men.Cardiff began with all the confidence you would expect from a top of the table side with a 100 per cent record, but although Junior Hoilett’s darting runs and the muscle of Nathaniel Mendez-Laing and Kenneth Zohore threatened carnage, the rhythms of Fulham’s passing began to dictate.In one free-flowing move, Denis Odoi and Stefan Johansen combined to give Sessegnon a chance, which the winger curled just wide, and a free-kick from debutant Yohan Mollo passed the outside of Etheridge’s left hand post by inches.Fulham also came close to breaking the deadlock when Johansen chanced his arm from distance and the ever-alert Ayite almost prodded in the rebound after the busy Etheridge had parried.More chances came and went after the break – Ayite striking a post from distance and Johansen having a shot blocked by Joe Bennett after Etheridge had raced out of his area to make a headed clearance but failed to launch the ball out of danger.The Whites were deservedly in front soon after, but could not quite hold on for the win.Fulham: Button; Fredericks, Kalas, Ream, Odoi; McDonald; Mollo (Kamara 59), Johansen, Cisse (Norwood 54), Sessegnon; Ayite. Subs not used: Bettinelli, Madl, Graham, D’Jalo, O’Riley. read more

UK, U of L hold spots in men’s hoops poll

first_imgKentucky leaves no doubt about its standing atop the AP Top 25 poll.The Wildcats (12-0) are the unanimous No. 1 for the third week in a row, again getting all 65 first-place votes.The new rankings Monday came two days after Kentucky’s 83-44 romp over UCLA. The Wildcats scored the game’s first 24 points and led 41-7 at halftime in a matchup of the two teams with the most NCAA championships.No. 22 Baylor (9-1), a Sweet 16 team last season, is the highest-ranked of four Top 25 newcomers. TCU (11-0), another Big 12 team, debuted at No. 25, its first poll appearance since the 1998-99 season.Himmelsbach | Louisville basketball shows fight as it plays without Montrezl HarrellNorthern Iowa (10-1) returned to the poll at No. 23, ahead of Colorado State (11-0).Duke (10-0) stayed second, followed by Arizona (12-0) and Louisville (10-0). The only change in the top 10 was Virginia (11-0) moving up to fifth and swapping spots with Wisconsin (10-1), the only Top 25 team that was idle last week. Villanova (11-0), Gonzaga (11-1), Texas (10-1) and Kansas (9-1) rounded out the top 10.Tim Sullivan | Kentucky’s blowout of UCLA nearly a picture of perfectionNotre Dame (11-1), which beat Purdue 94-63 in its only game last week, made the biggest upward move, five spots to 16th.Falling out were Miami, San Diego State, Butler and Michigan State.The Associated Press Top 25The top 25 teams in The Associated Press’ college basketball poll, with first-place votes in parentheses, records through Dec. 21, total points based on 25 points for a first-place vote through one point for a 25th-place vote and last week’s ranking:Team – Record – Pts – Prv1. Kentucky (65) – 12-0 – 1,625 – 12. Duke – 10-0 – 1,548 – 23. Arizona – 12-0 – 1,502 – 34. Louisville – 10-0 – 1,344 – 45. Virginia – 11-0 – 1,336 – 66. Wisconsin – 10-1 – 1,322 – 57. Villanova – 11-0 – 1,214 – 78. Gonzaga – 11-1 – 1,170 – 89. Texas – 10-1 – 1,149 – 910. Kansas – 9-1 – 1,096 – 1011. Wichita St. – 8-1 – 966 – 1112. Iowa St. – 9-1 – 821 – 1313. Washington – 10-0 – 798 – 1614. Utah – 8-2 – 796 – 1415. Maryland – 11-1 – 678 – 1716. Notre Dame – 11-1 – 536 – 2117. St. John’s – 9-1 – 517 – 2018. West Virginia – 10-1 – 464 – 2219. Oklahoma – 7-3 – 436 – 1520. North Carolina – 8-3 – 414 – 2421. Ohio St. – 9-2 – 411 – 1222. Baylor – 9-1 – 203 – —23. N. Iowa – 10-1 – 162 – —24. Colorado St. – 11-0 – 144 – —25. TCU – 11-0 – 120 – —Others receiving votes: Georgetown 857-3, San Diego St. 72, VCU 70, California 32, Miami 27, Arkansas 22, Indiana 11, LSU 7, Old Dominion 7, Florida 4, Penn St. 4, Oklahoma St. 3, Seton Hall 3, Butler 2, Minnesota 2, Davidson 1, Valparaiso 1.last_img read more

MacPherson leaves Queen’s Park to take up St Mirren role

first_imgGus MacPherson has resigned as Queen’s Park head coach to take up a role with St Mirren, the League Two side have announced.MacPherson has been appointed technical director by the Buddies, whom he previously managed for seven years from 2003-2010.The 49-year-old spent four-and-a-half seasons in charge of Queen’s Park.He achieved promotion to League One through the play-offs in 2016, but the Spiders dropped back into the fourth tier in May. MacPherson has now decided to move on by returning to Paisley to link up with new Buddies manager Oran Kearney.A defender during his playing days, MacPherson came through the youth ranks with Rangers but failed to make a first-team appearance for the Light Blues.Instead, he spent the majority of his career at Kilmarnock and enjoyed a brief stint with the Saints before hanging up his boots.Queen’s Park added in a statement on the club site: “For the past four and a half years Gus has served the club well and we would like to offer our sincere thanks and wish him well in his new endeavours.”last_img read more

Credit Card Fraud: Some Bad Guys DO Get Caught

first_imgKamali Rives of Lilburn, Georgia, and his partners ran multiple credit card fraud and identity theft schemes and ultimately stole over $2 million dollars. Rives made a prosperous living for years victimizing hundreds of people. He used stolen identities to open bank accounts, write bad checks, take out fraudulent loans and create phony credit cards.Rives ran multiple credit card fraud and identity theft schemes dating back to 2010. He partnered with bank employees to steal corporate checks. He recruited runners to open checking accounts and use fraudulent charge cards at point of sale in numerous retail locations over a long period of time. Rives kept an office in College Park, Georgia, where he conducted credit card fraud and many other unlawful schemes.But all good things come to an end. After receiving information from a man who claimed he had been held against his will and was pressured to help in identity theft, the College Park police department executed a search warrant of Rives’ office. The police found hundreds of counterfeit credit cards, a credit card manufacturing machine and files containing phony credit card information and other documents. Kamali Rives was tried and sentenced to 19 years, 6 months in prison for credit card fraud and numerous other charges.- Sponsor – Obviously, some credit card fraud perpetrators do get caught and convicted and banks are working fast to make fraud even more difficult. However, 2015 statistics show that the United States is responsible for 47% of the world’s creditcard fraud, despite only accounting for 24% of total worldwide card volume. And, credit card fraud in the United States is on the rise. About 31.8 million U.S. consumers had their credit cards breached in 2014, more than three times the number affected in 2013. Experts believe that the reason the United States has a disproportionately high amount of credit card fraud is because it has been slow to adopt EMV, the global standard in which credit cards carry computer chips that cut down on counterfeiting by dynamically authorizing card transactions. The United Kingdom, after adopting EMV technology, saw a decrease of 70% in counterfeit credit card fraud between 2005 and 2013.The United States is now implementing EMV. Once it is totally rolled out, counterfeit credit card fraud, especially at point of sale, should drop here too. But other types of credit fraud, especially card-not-present (online) fraud will most likely grow. Card-not-present is already a huge problem in the United States, accounting for 45% of credit card fraud in 2014, followed by actual counterfeit cards at 37%. Card-not-present transactions are expected to grow from $9 billion in 2013 to nearly $19 billion in 2018. EMV adoption will cause credit card fraud at point of sale to shrink, according to projections. Going forward, retailers will need to put even more focus on card-not present online transactions.Had the United States adopted EMV standards sooner, it probably would have put a huge dent in Kamali Rives’ profitable fraud operation. But, as noted, fraud against retailers will continue to grow, although probably not through point of sale counterfeit credit card fraud. And, there will always be Kamali Riveses out there, working to find other ways to scam retailers. The battle continues. Stay UpdatedGet critical information for loss prevention professionals, security and retail management delivered right to your inbox.  Sign up nowlast_img read more

10 months agoBesiktas midfielder Gary Medel wanted by West Ham

first_imgTagsTransfersAbout the authorPaul VegasShare the loveHave your say Besiktas midfielder Gary Medel wanted by West Hamby Paul Vegas10 months agoSend to a friendShare the loveBesiktas midfielder Gary Medel is being linked with a Premier League return.Sky Sports says West Ham are interested in signing Medel next month.Hammers officials are due to travel to Turkey in the coming days to develop the negotiations.Medel played over 30 games for Cardiff City during their time in the Premier League and could now return to England in January.Besiktas are in need to clear their best paid players off the books due to financial struggles and released Pepe earlier this week. last_img read more