Just like starting over

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AIGCO – an interview with general manager Mr. Naji Skaf.

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North Korean Firm Renaming Ships to Dodge UN Sanctions

first_imgA North Korean shipping company, blacklisted by the United Nations, has been renaming and reflagging its vessels to avoid an arms embargo, the UN said in a report.Namely, the U.N. Security Council committee imposed sanctions on Ocean Maritime Management (OMM) for smuggling Soviet-era arms from Cuba on board its ships. Under the sanctions, the company is subject to an international asset freeze and travel ban.An OMM ship, Chong Chon Gang, was seized near the Panama Canal in 2013 for carrying arms and missiles, hidden under thousands of tonnes of sugar. The ship was stopped under suspicion that it was smuggling drugs, however; the following search found the illicit cargo.According to the UN report, set for discussion on Thursday, OMM has renamed 13 of its 14 ships and transferred their ownership and management to other single ship owner companies, the AFP writes citing the report.By reflagging and renaming its vessels OMM planned to keep off the radar so as to evade asset freeze by member states, the report said.The ban on imports and exports of all but small arms forms part of strict sanctions imposed against North Korea because of its nuclear weapons program.OMM is reported to have operations in at least 10 countries.World Maritime News Stafflast_img read more

Triton to Become Majority Shareholder of DeepOcean

first_imgTriton, a private equity investment company, will become the largest shareholder of DeepOcean, after the funds advised by Triton signed an agreement to acquire a majority interest in the subsea services provider.The transaction is expected to close around 1 January 2017, subject to regulatory approval in the relevant jurisdictions. The parties have agreed not to disclose the purchase price.DeepOcean informed that it had also strengthened its balance sheet and liquidity with an equity raise. Through the equity raise and the future support of Triton, the company aims to weather the downturn in the oil & gas market, and also to take advantage of growth opportunities in both the oil & gas and renewable energy markets.Bart Heijermans, Chief Executive Officer of DeepOcean, said: “This transaction has achieved two key objectives for DeepOcean. Firstly, in Triton we have found a strong and experienced lead shareholder with key competencies in strategy, business development and operational excellence to support the company going forward. Secondly, with the capital raise we have strengthened our balance sheet and improved our liquidity position and outlook. In today’s markets, having a strong owner and a solid balance sheet is an important competitive advantage as our clients increasingly focus on counterparty solidity and long-term viability when allocating contracts.”“We want to support the management and employees of DeepOcean as a stable and knowledgeable owner investing in and supporting the future growth and development of the company. We will contribute with our strategic insights and operational know-how in this industry. We look forward to working together with the management team and the Board of Directors in building an even stronger company”, said Peder Prahl, Director of the General Partner for the Triton funds.Triton said it had followed DeepOcean closely for a long time prior to making the investment and has come to know the sector and the company well.“DeepOcean is well positioned as one of the leading operating platforms for subsea services and can be a main driver of consolidation in its niche”, added Fredrik Brynildsen, Investment Advisory Professional of the Triton Oslo office.DeepOcean recently completed cable route clearance works prior to 2017 export cable landfall pull-in operations for DONG Energy’s 660MW Walney Extension offshore wind farm. The company’s scope of works includes route engineering as well as the installation and trenching of a total of 136km offshore export cables and a 23km interlink cable. DeepOcean will use the recently delivered Maersk Connector to install subsea cables at the site.last_img read more

Campaign for fairer payment

first_imgSubscribe now for unlimited access Get your free guest access  SIGN UP TODAY To continue enjoying Building.co.uk, sign up for free guest accessExisting subscriber? LOGIN Stay at the forefront of thought leadership with news and analysis from award-winning journalists. Enjoy company features, CEO interviews, architectural reviews, technical project know-how and the latest innovations.Limited access to building.co.ukBreaking industry news as it happensBreaking, daily and weekly e-newsletters Subscribe to Building today and you will benefit from:Unlimited access to all stories including expert analysis and comment from industry leadersOur league tables, cost models and economics dataOur online archive of over 10,000 articlesBuilding magazine digital editionsBuilding magazine print editionsPrinted/digital supplementsSubscribe now for unlimited access.View our subscription options and join our communitylast_img read more

New homes insurance and lost deposits?

first_imgSubscribe now for unlimited access Get your free guest access  SIGN UP TODAY To continue enjoying Building.co.uk, sign up for free guest accessExisting subscriber? LOGIN Stay at the forefront of thought leadership with news and analysis from award-winning journalists. Enjoy company features, CEO interviews, architectural reviews, technical project know-how and the latest innovations.Limited access to building.co.ukBreaking industry news as it happensBreaking, daily and weekly e-newsletters Subscribe to Building today and you will benefit from:Unlimited access to all stories including expert analysis and comment from industry leadersOur league tables, cost models and economics dataOur online archive of over 10,000 articlesBuilding magazine digital editionsBuilding magazine print editionsPrinted/digital supplementsSubscribe now for unlimited access.View our subscription options and join our communitylast_img read more

Priority tram signals installed in Moscow

first_imgRUSSIA: The first set of traffic signals giving priority to trams has been installed in the east of Moscow at the junction of Shosse Entuziastov and the Third Ring Road. When a tram approaches the road junction, it is detected by sensors fitted on both sides of the Third Ring Road. These send a signal to a wayside controller that change the traffic lights to allow the tram to pass without stopping. In some cases the tram will have to wait up to 17 sec to pass, which is an improvement from the 90 sec fixed cycle that was previously in place. The technology is expected to speed up journeys for the 30 000 passengers a day that use tram routes 8, 12 and 46 on this section of the network. ‘We are constantly working on the development of an intelligent transport system’, said Deputy Head of the Moscow government’s Centre for Organisation of Road Traffic Dmitry Gorshkov. ‘One of our most important priorities is public transport, as in peak hours it is used by 73% of the city’s inhabitants’. The system was tested on cars in the satellite town of Zelenograd between March and May. The Centre for Organisation of Road Traffic intends to install up to 600 intelligent crossings across Moscow within the next year, with priority given to upgrading the crossings that currently cause trams to wait the longest.last_img read more

FUNDING SUCCESS FOR PEER PROJECT IN DALBEATTIE

first_imgAddThis Sharing ButtonsShare to FacebookFacebookFacebookShare to TwitterTwitterTwitterShare to LinkedInLinkedInLinkedInA group of young people who attend the Peer Project in Dalbeattie were successful in their bid to D&G Youthbank for equipment and resources for their group.The young people, supported by a young volunteer, applied for £673.16 for extra resources, such as arts and crafts, and sporting equipment, for their Wednesday night sessions. The Youthbank assessors who took part in a site visit to meet the group were impressed by all of the activities taking place and by the enthusiasm of the young people involved. They recommended that the full amount should be awarded to help the group purchase the resources needed.After the site visit, one of the Youthbank assessors commented: “All of the staff and volunteers were very encouraging and active towards the young people and the project itself. It is amazing what they have achieved given the lack of equipment and resources and there is no doubt that this funding will bring many benefits to the group and the young people who use it.”Chair of Stewartry Area Committee, Councillor Finlay Carson commented “The Peer Project in Dalbeattie provides great opportunities for young people in the area to come together and build their skills and confidence, so to have been successful in their bid to Dumfries & Galloway Youthbank is fantastic and a huge boost. It is also a great opportunity for the Youthbank Assessors to see how funding of this kind can really help support youth groups and initiatives across the region.”The purpose of the Peer Project, which operates in both Dalbeattie and Stranraer, is to provide opportunities for young people with a wide range of additional support needs to get together with others to make friends, develop their skills and confidence and build relationships in a group work setting.Dumfries and Galloway’s Youthbank is a youth-led grant giving initiative that encourages groups of young people to apply for money to put their good ideas in to action. Trained Youthbank assessors, who are young people aged 12-25, assess the applications, make site visits and have the final say on what groups get the money. The maximum grant amount is £750.Photo  Details; far left are Youthbank assessors Sarah White & Rhiannon Gerrard presenting the cheque to young members of the Peer Project.last_img read more

Local MSP Highlights Dumfries HGV Driver Training in Scottish Parliament

first_imgAddThis Sharing ButtonsShare to FacebookFacebookFacebookShare to TwitterTwitterTwitterShare to LinkedInLinkedInLinkedIn Dumfries and Galloway companies Nithcree Training and Currie European were praised in the Scottish Parliament this week for their efforts to encourage more people to train as HGV drivers.Joan McAlpine, MSP for South Scotland, cited the companies’ experience in a debate highlighting the skills shortages in the haulage industry.Ms McAlpine, who visited Nithcree in advance of her speech, highlighted the frustrations in accessing funding for training and licenses, and the economic impacts driver shortages cause local businesses.During the debate Ms McAlpine said:“The sector is extremely important to my region. I take the opportunity to recognise two Dumfries-based companies—Nithcree Training Services, which has been mentioned, and Currie European Transport—for their efforts in encouraging more people to train as HGV drivers. I spoke to the leaders of both those companies in advance of the debate to get a first-hand view on the challenges and how to overcome them. At Nithcree Training, I spoke to the director, Elizabeth Campbell, to find out more about the shortages. She highlighted the cost of HGV training, which can be prohibitive. In fact, she said that taking someone from scratch to being trained in every kind of HGV and load could cost around £5,000 in certificates and licences.”Ms McAlpine outlined some of the frustrations faced by industry, including a lack of funding for people to undertake training and the excessive cost of insurance for apprentice training schemes, stating:“Currie European has an excellent apprenticeship scheme for young people. The company, which has a great relationship with the local schools, takes apprentices from school. Tom Barrie, its owner, said that, although it was and would remain absolutely committed to its apprenticeship scheme, the cost of insurance was prohibitive and the company was looking for any assistance that it could get on that.”She also explained the negative impact of the removal of UK Government overnight tax breaks for drivers and highlighted the economic impact of driver shortages to the wider economy:“Mr Barrie employs more than 300 people at Currie European but, because of the shortages, he has to turn work away. If he is doing that, it means that the companies that need to get goods to people are not getting them to those people on time. As other members have said, the shortage of drivers is affecting the economy as a whole.”The debate was called by Chic Brodie MSP who explained the value of the road haulage sector in Scotland:“Its net contribution is more than £5 billion, and it contributes more than 5.5 per cent of the total Scottish gross value added. It is also a vital component in helping to deliver Scotland’s exports which in themselves are a key component of Scotland’s economic strategy: we are on track to double our exports over the period 2012 to 2017. The sector fuels the retail market, secures manufacturing output through the delivery of raw materials and components to industry and also harnesses indigenous industries such as farming and forestry.”Mr Brodie added that there is a shortage of 11,000 drivers in Scotland and indicated that barriers to recruitment, skills shortages and an understanding of the scale of the issue as well as access to the industry all needed to be addressed.last_img read more

Tanzania’s former first lady sworn in to parliament

first_imgFormer First Lady Salma Kikwete is sworn in as a nominated MP in Parliament in Dodoma yesterday. PHOTO | EDWIN MJWAHUZI. pic.twitter.com/cJr5XXO3JQ— The Citizen Tanzania (@TheCitizenTZ) April 5, 2017 Former President Jakaya Kikwete with his wife Salma Kikwete at the swearing in ceremony. Picture CourtesyTanzania’s former first lady Salma Kikwete was sworn in to parliament after being nominated by the President John Magufuli as Member of Parliament of the United Republic of Tanzania on March 1, this year, reports the Daily News.Salma Kikwete is the ninth presidential nominee in the House. Mrs. Kikwete made history in the East African nation for being the first, First Lady to become an MP time since Tanzania gained independence in 1961.The wife of former President Dr. Jakaya Kikwete was cheered on by the parlimane as she took her vows before the speaker of parliament. Her husband, who was present in parliament, received a standing ovation from all lawmakers in the August House, immediately after being introduced by the Speaker, Mr Job Ndugai.Ms. Kikwete who is representing people from Lindi region, the coastal line of Tanzania, expressed commitment in serving her people, focusing on the disbursement of funds for Tanzania Social Action Fund (TASAF)  poor families.last_img read more