FSL Trust Sells Product Tanker amid Fleet Renewal Efforts

first_imgzoomIllustration. Image Courtesy: Pexels under CC0 Creative Commons license Singapore-based First Ship Lease Trust has moved forward with the disposal of a 2005-built MR product tanker as part of its fleet renewal efforts.The company has executed a Memorandum of Agreement to sell the 47,496 dwt FSL Hamburg to an unaffiliated third party and has received the initial 10% deposit in escrow.FSL Trust said that the transaction is expected to be completed before end March 2019, at which time the net proceeds would be utilised for partial repayment of the company’s outstanding bank debt. The remainder, some USD 6.5 million, would be used for instalment payments for the newbuilding acquisition revealed in mid-December 2018.“In line with the Trust’s ongoing fleet renewal strategy, we are pleased to report this disposal, which will help fund the newbuilding acquisition, will reduce the outstanding bank debt thus improving the Trust’s risk profile while preparing the Trust to take advantage of the expected recovery in the sector,” Roger Woods, Chief Executive Officer of FSLTM, said.last_img read more

admin October 23, 2019 buraha Leave a Comment

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Governments review of backpacker tax set to maintain tourism growth

first_imgGovernment’s review of ‘backpacker tax’ set to maintain tourism growthAustralia’s peak accommodation body, Tourism Accommodation Australia (TAA), has welcomed the announcement this morning by the Minister for Tourism, Senator Richard Colbeck, that the Government would review its plans regarding the ‘backpacker tax’.Under the original proposal, the Government planned to scrap the tax-free threshold for visitors on working holiday makers, meaning backpackers and other working holidaymakers would pay 32.5 cents tax on every dollar they earned.TAA has made strong representations to Government that the measure would significantly affect hotels in regional and remote areas and their ability to attract workers.“We congratulate the Government for this move as many regional and remote areas rely on seasonal workers, especially in tourism, and this tax would have seriously impacted the flow of working holiday visitors,” said TAA’s CEO, Carol Giuseppi.“The Government has identified the need to create 123,000 workers in the tourism and hospitality sector by 2020, and while the hotel industry is working hard to ‘grow its own’, regional and remote areas in particular will rely on being able to attract backpackers and others to fill shortages in peak seasonal periods.“It is heartening to see the Government listening to industry concerns and acting to address the issues.”The announcement comes at a time of strong growth in visitor numbers and hotel development in Australia. The latest National Visitor Survey, released today by Tourism Research Australia, paints a very promising picture of the state of Australian tourism.For the year ending December 2015 overnight trips grew 7% to 87.1 million, visitor nights increased 4% to 322 million, and tourism expenditure spend grew 6% to $57.9 billion. With similarly strong growth in international tourism, Australia’s tourism sector contributed $113.5 billion in expenditure in 2015“The Government’s support of bilateral air agreements, free trade agreements and tourism marketing has had a significant impact on attracting international visitors, and the fall in the Australian dollar during 2015 stimulated the domestic travel sector while reducing outbound travel growth to just 1% during the year,” said Ms Giuseppi.“For the hotel industry, continued growth in visitor numbers is vital if we are to soak up the vast amount of new hotel supply coming into the marketplace.“It is now estimated that there are over 100 hotel projects in the pipeline, plus a large number of significant refurbishments, and it will be important to generate significant new demand to support this unprecedented level of investment in the hotel sector.” Tourism Accommodation AustraliaSource = Tourism Accommodation Australialast_img read more

admin August 17, 2019 xdabuo Leave a Comment

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Tomiaki also displayed one of Paolos 10 four hun

first_imgTomiaki also displayed one of Paolo’s 10, four hundred page, aluminum encased journal/sketchbooks. Nick Falevina receives his certificate of completion from Workshop Coordinator, Wes Ozier. Site Coordinator Tomiaki Tamura opened up the Archives to share some of Paolo’s scrolls with the June Workshop. Pictured is a Space for Peace scroll. June 11, 2001GraduationOn Friday, the May Workshop graduated from the five-week program. The group marked the event by posing on Sebastian and Karsten’s 1979 Caddy.[Photos and text by Jennifer Thornton] The last week of the May Workshop coincided with Seminar Week of the June Workshop in which the Workshoppers are familiarized withArcosanti and Arcology Theory. Landscape Manager Karen Taylor shows the group the various flowers, trees, herbs, vegetables and other plants that beautify the Site.last_img read more

admin August 10, 2019 utkzqd Leave a Comment

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Rep Albert schedules local office hours Jan 30

first_img State Rep. Thomas Albert, R-Lowell, today invited residents of Kent and Ionia counties to meet with him during office hours in Ada and Belding.“I’m ready to get right to work addressing issues that matter to people in our district,” Albert said. “I encourage residents to stop by during office hours and share their thoughts and ideas about how we can make Michigan an even better place to live and work.”Albert will be available at the following times and locations on Monday, Jan. 30:9 to 10 a.m. at Nonna’s Pantry, 591 Ada Dr. SE in Ada.11 a.m. to noon at Bridge Street Café, 103 E. High St. in Belding.No appointment is necessary to attend. Anyone unable to meet during the scheduled times may contact his office at (517) 373-0846 or email ThomasAlbert@house.mi.gov.### Categories: Albert News 13Jan Rep. Albert schedules local office hours Jan. 30last_img read more

admin August 9, 2019 fkvuuq Leave a Comment

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