Tsakos Energy Navigation Sees Drop in Net Income

first_imgzoom Greek tanker owner and operator Tsakos Energy Navigation Limited (TEN) posted a net income of USD 16.4 million in the second quarter of 2016, down from USD 41.2 million reported in the same quarter in 2015.TEN’s fleet continued to operate at almost full utilization in the second quarter. Excluding the LNG carrier Neo Energy’s repositioning voyage for its next employment, the productivity of the core fleet was 98% net of scheduled dry-dockings.Revenues, net of voyage expenses, amounted to USD 94.8 million, a reduction from the 2015 second quarter due to the repositioning voyage of the Neo Energy, while the average daily time charter equivalent (TCE) rate was USD 21,602 in the quarter including the repositioning of the LNG vessel.The newly built VLCC Ulysses was delivered in mid second-quarter and had a spot charter which contributed nearly USD 1 million to the bottom line of the second quarter, according to TEN. Following completion of that voyage in early July, the vessel started a 40-month charter to a Far Eastern end user at an accretive rate.The newbuilding aframax Elias Tsakos was delivered to its charterer, Statoil, just two days before the second quarter-end and its sister vessel the Thomas Zafiras together with the LR1 product carrier, Sunray, were delivered in August 2016.TEN has two further aframaxes and an LR1 product carrier scheduled for delivery in the third and fourth quarter of 2016.Although the size of the fleet compared to the second quarter of 2015 increased with the addition of two new suezmaxes and a VLCC, the average daily operating expenses per vessel fell by nearly 2% to USD 8,026, mainly due to proactive cost controls by TEN’s technical managers.TEN said that its balance sheet “remained strong with cash balances at a healthy USD 262.5 million.” In addition, as of June 30, 2016, TEN has undrawn bank facilities totaling USD 452 million, relating to thirteen vessels under construction, of which USD 37 million has since been drawn for the recent deliveries.The company’s net income for the first six months of 2016 plunged to USD 41.8 million from USD 78.5 million seen in the first half of 2015, amid a softened tanker market.Operating income for the first half was USD 57.4 million, down from USD 94.8 million reported a year earlier.The company’s total contracted revenues, over a pro forma fleet of 65 vessels, amount to a minimum of USD 1.4 billion with an average charter employment of 2.8 years.“TEN is in the midst of its largest growth program since inception. With the introduction of the new vessels under long term contracts to major end users, we expect TEN’s value to grow significantly,” Nikolas P. Tsakos, President and CEO of TEN said.With oil prices still at low levels with no signs today of reaching the lofty heights of 2014, a significant part of the world’s orderbook already absorbed, and few vessels expected to be ordered in the next eighteen months, TEN said that the tanker markets “should return to healthier levels in the near future albeit with the customary and expected aberrations that characterize the seasonality of the industry.”last_img read more

Outgoing Board of Supervisors member Ron Roberts on decades of work in

first_imgOutgoing Board of Supervisors member Ron Roberts on decades of work in San Diego Updated: 9:30 PM December 7, 2018 Categories: Local San Diego News FacebookTwitter KUSI Newsroom center_img Posted: December 7, 2018 00:00 00:00 spaceplay / pause qunload | stop ffullscreenshift + ←→slower / faster ↑↓volume mmute ←→seek  . seek to previous 12… 6 seek to 10%, 20% … 60% XColor SettingsAaAaAaAaTextBackgroundOpacity SettingsTextOpaqueSemi-TransparentBackgroundSemi-TransparentOpaqueTransparentFont SettingsSize||TypeSerif MonospaceSerifSans Serif MonospaceSans SerifCasualCursiveSmallCapsResetSave SettingsSAN DIEGO (KUSI)- His service to San Diego spans nearly his entire life and after serving over two decades on the Board of Supervisors Ron Roberts is termed out.Ron Roberts joins KUSI to talk about his service over the years. KUSI Newsroom, last_img read more

Carrie Budoff Brown to Succeed Susan Glasser as Politico Editor

first_img These departures are partially the result of Politico owner Robert Allbritton’s clashes with VandeHei, Allen, and others concerning spending and expansion, according to The Washington Post and The Huffington Post. Glasser, a founding editor of Politico, will remain in place through the November presidential elections. She has been editor since 2014 and led the brand’s expansion across the U.S. and into Europe. Glasser will move to Jerusalem with her husband, Peter Baker, who was recently named The New York Times Jerusalem bureau chief. There, she will assume the role of director of editorial innovation and chief foreign affairs columnist for Politico. This move has been expected since the end of 2015, Harris revealed. In January of this year, then-CEO and editor Jim VandeHei revealed that he would leave the company after the November elections, but he ultimately left the position in April. In a staff memo, Politico publisher and editor-in-chief John Harris said, “Carrie, a star reporter turned accomplished editor who bears much credit for the successful launch of Politico Europe over the last year, has a vision for the next chapter that Robert [Allbritton] and I found exhilarating.” The change in leadership comes in the wake of several high-profile departures. In October 2015, Politico Magazine editor Garrett Graff left the company.center_img Brown has worked at Politico since 2007. Harris noted that she was a key player in the publication’s coverage of the 2008 presidential campaign. Brown then served as White House correspondent from 2009 to 2014, and was instrumental in launching Politico Europe in Brussels. Carrie Budoff Brown, currently head of Politico’s European newsroom, will succeed Susan Glasser as editor of Politico, the company announced today. “Excellence is the word we most associate with Susan, and her unyielding commitment to it mattered most in the realm of people. Recent years have seen an influx of talented reporters and editors to Politico — exceptionally creative journalists drawn to our vision of a publication dominating politics and policy, and the new expressions of that vision Susan and her team were creating,” Harris said. Also in January, chief political reporter and “Playbook” correspondent Mike Allen, chief operating officer Kim Kingsley, chief revenue officer Roy Schwartz, and EVP Danielle Jones announced their impending departures. Allen’s last “Playbook” was published Sunday, but he will stay on through the elections. While Schwartz will also remain at Politico until November, Kingsley and Jones departed in April. last_img read more

NOW HIRING 10 New Job Openings In Wilmington

first_imgWILMINGTON, MA — Below are some of the newest job openings in Wilmington:Full-Time One-Year Interim Guidance Counselor at Wilmington High SchoolFull-Time Carpet Cleaning Technicians at New England Carpet MasterPart-Time (Temporary) Carpet Cleaning Assistants at New England Carpet MasterFull-Time Route Sales Representative at AramarkPart-Time Sandwich Artist at SubwayFull-Time Service Coordinator at P.J. Dionne CompanyFull-Time Assistant Project Manager at P.J. Dionne CompanyFull-Time Plumbing Coordinator at P.J. Dionne CompanyFull-Time & Part-Time Delivery Drivers at Advanced Auto PartsPart-Time Junior Buyer at Scully Signal CompanyFull-Time Drivers/Movers at Xpress Movers(NOTE: Wilmington businesses — Feel free to send me your job postings at wilmingtonapple@gmail.com.)Like Wilmington Apple on Facebook. Follow Wilmington Apple on Twitter. Follow Wilmington Apple on Instagram. Subscribe to Wilmington Apple’s daily email newsletter HERE. Got a comment, question, photo, press release, or news tip? Email wilmingtonapple@gmail.com.Share this:TwitterFacebookLike this:Like Loading… RelatedNOW HIRING: 60 New Job Openings In Wilmington (Week of August 11, 2019)In “Business”NOW HIRING: 50 New Job Openings In Wilmington (Week of June 23, 2019)In “Business”NOW HIRING: 10 New Job Openings In WilmingtonIn “Business”last_img read more

German workers disrupt Christmas spirit at Amazon with strikes

first_imgWorkers at German warehouses of U.S. online retailer Amazon.com Inc were called out on a new strike by labor union Verdi on Monday as part of a long-running dispute over pay and conditions.Verdi said in a statement that workers at six of the nine Amazon warehouses were joining the strike, which will run until December 24 at four of the centers and for shorter periods at the others.Germany is Amazon’s second-biggest market after the United States with 10,000 warehouse staff plus more than 10,000 seasonal workers.A Verdi spokeswoman said the union expected a similar number of workers to join the strike as previously, when hundreds of staff walked off the job at several warehouses.But an Amazon spokeswoman said only a small minority of staff were on strike.”There is absolutely no impact on our customer delivery promise. The vast majority of our employees are working,” she said, noting that Amazon uses a network of 29 warehouses across Europe to fulfill orders.Verdi has organized frequent strikes at Amazon since May 2013 as it seeks to force the retailer to raise pay for warehouse workers in accordance with collective bargaining agreements in Germany’s mail order and retail industry.Amazon has repeatedly rejected the union’s demands, saying it regards warehouse staff as logistics workers and that they receive above-average pay by the standards of that industry.last_img read more

Employees provident fund investment into indexed equities to remain at 5

first_imgThe Employees’ Provident Fund Organisation (EPFO) has no plans to increase its investment limit than what it already does into India’s stock exchange traded funds (ETF), Labour Minister Bandaru Dattatreya told Parliament on Monday.The expectations that the retirement-corpus guarding entity could increase its limit from 5 percent to up to 15 percent into such exchange traded indexed funds remained just that. In a written reply to the Lok Sabha on Monday, Dattatreya said that “at present there is no proposal under consideration of the government to enhance this limit.” The retirement fund’s central board of trustees (CBT) has only agreed to continue with 5 percent investments into ETF, but hasn’t proposed any further increase.The CBT was expected to meet sometime before July 22. Also, both the labour minister and the finance ministry had granted an in-principle approval to extend investment into India’s equities market.PTI reported that Dattatreya had said the “quantum of investment to be made into ETF” would increase after the organisation had discussions with both the Bombay Stock Exchange and the National Stock Exchange, while the finance ministry too had cleared a proposal for investment between 5 to 15 percent into equities through these ETFs. Dattatreya held that such an approval is for long term investment, while “it may be may be up to 10 to 12% depending upon the market conditions.”Investments into ETF began a year ago and, as of June 30, the EPFO had invested Rs. 7,468 crore in two index-linked ETFs — one on both the exchanges. The present market value of the investment stood at Rs. 8,024 crore, which was 7.45 percent return on investment.The EPFO is a statutory body under the labour ministry.last_img read more

Cara Delevingne finally confirms that she is dating Ashley Benson with Pride

first_imgCara Delevingne and Ashley BensonTwitterCara Delevingne has finally come out in the open about her relationship with Ashley Benson. Although the couple has been going strong for a year now, the actress chose this specific month to let the world know about her whirlwind romance and celebrate her one year anniversary. Cara Delevingne kisses Ashley BensonInstagramThree days ago, Delevingne took to Instagram to share a steamy video of her pulling Ashley close for a passionate kiss. With this, the actress further confirmed her relationship with Benson too as she captioned the video, “#PRIDE ❤️❤️ @ashleybenson” There were two reasons behind her making her relationship with Benson public. Speaking with E! News at the TrevorLIVE Gala, Delevingne said, “I don’t know because it is Pride, it’s been 50 years since Stonewall happened and I don’t know,” she shares. “It’s been just about our one year anniversary so, why not?”During her speech at the Gala, Delevingne did mention Benson in her speech as she expressed how important it is to accept love. “I also have another very special woman in this room to thank and you know who you are. She’s one of the people who help me love myself when I needed it most and I really needed it. She showed me what real love is and how to accept it, which is a lot harder than I thought,” the actress stated. In her speech, Cara also revealed the pet name that she has kept for Ashley, Sprinkles. Cara Delevingne and Ashley BensonTwitterTheir whirlwind romance has been the talk of the town. The Brit beauty is totally smitten by the Pretty Little Liars alum and they are not shy per se when expressing their feelings for each other. They did keep their relationship status a secret but that’s only because they’re not answerable to anyone! A source told E! News, “They are very sweet and loving together. They are always doing simple nice things for each other and it all comes very easy and naturally. They are committed to one another and very much in love.”last_img read more

RU punishes 2 teachers over communal questions in admission test

first_imgRUThe authorities of Rajshahi University (RU) have taken punitive actions against two of its teachers for their involvement in making ‘communal’ questions in entry test under faculty of Fine Arts.The decision was taken in 474th syndicate meeting of the university on Wednesday night, reports UNB quoting the RU Syndicate sources.As per the syndicate meeting decision, Faculty of Fine Arts dean Mustafizur Rahman and member of the question paper making committee Zillur Rahman were suspended for next 10 years from examination related activities.Mustafizur Rahman has also been removed from the post of faculty dean and Zillur Rahman’s promotion as associate professor will be effective after five years.Earlier, the candidates of ‘I’ unit admission test, held on 25 October, were asked to answer to two controversial questions in: What is the greatest book in the world?Four possible answers were – a) Holy Qur’an. b) Holy Bible. c) Holy Injil. d) Geeta.Another question was “On which date the Myanmar Army and armed Buddhists attacked Rohingya Muslims?”Following row over the questions, the authorities of the university formed a four-member probe committee to investigate the matter.last_img read more

Gunmen dressed as doctors kill 38 in Kabul hospital

first_imgAfghan security personnel stand guard in front of the main gate of a military hospital in Kabul. Photo: AFPGunmen disguised as doctors stormed Afghanistan’s largest military hospital Wednesday, killing at least 38 people in a six-hour attack claimed by the Islamic State group as it makes inroads into the war-battered country.More than 70 others were wounded in the assault on the Sardar Daud Khan hospital, with explosions and gunfire rattling Kabul’s diplomatic district as dense clouds of smoke rose in the sky.Medical staff hunkered down in the hospital wards posted desperate messages for help on social media, with television footage showing some of them trapped on the ledge of a top-floor window.“Attackers are inside the hospital. Pray for us,” a hospital staff member wrote on Facebook.Hospital administrators told AFP three gunmen wearing white laboratory coats began spraying bullets after a suicide bomber on foot blew himself up at the backdoor entrance, sparking chaos inside the 400-bed facility.“I saw one of the attackers, armed with an AK-47 and dressed as a doctor, shooting at patients and guards on the third floor,” hospital nurse Abdul Qadeer told AFP.“They shot my friend but I managed to flee… I had to jump over the barbed wire to escape.”At least two other loud explosions—including what the defence ministry called a car bomb in the hospital’s parking lot—were heard as Afghan special forces launched a clearance operation that lasted around six hours.The attackers were gunned down after special forces landed on the roof of the hospital in a military helicopter.“The attack in the capital’s central Wazir Akbar Khan neighbourhood has killed 38 people and wounded more than 70,” the Italian-run Emergency hospital said in a statement, adding that a seven-year-old boy was among those seriously injured.‘Criminal act’The raid highlights how Afghanistan’s warring parties, including government forces, have repeatedly targeted medical facilities, decimating the country’s fragile health system and preventing conflict-displaced civilians from accessing life-saving care.“This egregious and morally reprehensible attack targeted people at their most vulnerable, while they were receiving treatment in the hospital, and also targeted the medical staff caring for them,” said the UN Assistance Mission in Afghanistan.“This cowardly attack reflects a fundamental rejection of the most basic principles of humanity. Without question, it amounts to an atrocity, and the perpetrators must be held accountable.”Islamic State jihadists claimed the attack via a verified Telegram account.The more powerful Taliban said they were not behind the raid. The militant group, Afghanistan’s largest, is known to distance itself from attacks on medical facilities or those that result in high civilian casualties.The assault comes just a week after 16 people were killed in simultaneous Taliban suicide assaults on two security compounds in Kabul.Dozens of others were wounded as a suicide car bomber struck an Afghan police precinct in western Kabul and a five-hour gun battle ensued after another attacker sneaked in.In the second attack last week, a suicide bomber blew himself up at the gates of an Afghan intelligence agency branch in eastern Kabul.The carnage underscores rising insecurity. The country is bracing for an intense fighting season in the spring as the government’s repeated bids to launch peace negotiations with the Taliban have failed.Afghan forces, already beset by record casualties, desertions and non-existent “ghost soldiers” on the payroll, have been struggling to beat back insurgents since US-led NATO troops ended their combat mission in December 2014.Kabul last month endorsed US General John Nicholson’s call for thousands of additional coalition troops to hold off the militants before the spring offensive.Extra troops were needed to end the stalemate in the war, Nicholson, the top US commander in Afghanistan, told the US Congress in what could be President Donald Trump’s first major test of military strategy.last_img read more

US SC rejects Trump over Dreamers immigrants

first_imgThe US Supreme Court on Monday dealt a setback to President Donald Trump, requiring his administration to maintain protections he has sought to end for hundreds of thousands of immigrants brought illegally into the United States as children.The justices refused to hear the administration’s appeal of a federal judge’s 9 Jan nationwide injunction that halted Trump’s move to rescind a program that benefits immigrants known as “Dreamers” implemented in 2012 by his Democratic predecessor, Barack Obama.The protections were due to start phasing out in March under the Republican president’s action, announced in September.Under the Deferred Action for Childhood Arrivals (DACA) program, roughly 700,000 young adult, mostly Hispanics, are protected from deportation and given work permits for two-year periods, after which they must re-apply. Congress so far has failed to pass legislation to address the fate of the “Dreamers,” including a potential path to citizenship.San Francisco-based US District Judge William Alsup ruled last month that the government must continue to process renewals of existing DACA applications while litigation over the legality of Trump’s action is resolved, prompting the administration’s unusual move to bypass a federal appeals court and take the matter directly to the Supreme Court.“The DACA program—which provides work permits and myriad government benefits to illegal immigrants en masse—is clearly unlawful. The district judge’s decision to unilaterally re-impose a program that Congress had explicitly and repeatedly rejected is a usurpation of legislative authority,” White House spokesman Raj Shah said.“We look forward to having this case expeditiously heard by the appeals court and, if necessary, the Supreme Court, where we fully expect to prevail,” Shah added.The administration argued Obama exceeded his powers under the Constitution when he bypassed Congress and created DACA.Alsup ruled that the challengers, including the states of California, Maine, Maryland and Minnesota and Obama’s former homeland security secretary Janet Napolitano, were likely to succeed in arguing that the administration’s decision to end DACA was arbitrary.In a brief order, the Supreme Court justices said the appeal was “denied without prejudice,” indicating they will maintain an open mind on the underlying legal issue still being considered by the San Francisco-based 9th US Circuit Court of Appeals. The justices also said they expect the lower court to “proceed expeditiously to decide this case.”Trump, meeting with governors at the White House, took a swipe at the appeals court, which has ruled against him in other key cases, as well as the broader American judiciary.“Nothing’s as bad as the 9th Circuit,” Trump said.“It’s really sad when every single case filed against us is in the 9th Circuit. We lose, we lose, we lose and then we do fine in the Supreme Court,” Trump added. “But what does that tell you about our court system? It’s a very, very sad thing.”‘FULLY LEGAL’California Attorney General Xavier Becerra, a Democrat, called the administration’s bid to bypass the 9th Circuit “unusual and unnecessary” and said the DACA program is “fully legal. “For the sake of the Dreamers who help make our economy and our state strong, the rescission of DACA should not be allowed to stand,” Becerra said.Immigration activists said they were grateful the Supreme Court gave current DACA recipients more time, but said many young immigrants are still left unprotected.“We need a permanent solution now,” said Greisa Martinez, a DACA recipient who works in Washington with the immigrants’ rights group United We Dream. “This back and forth on DACA and the legislative process has created a crisis in our community.”The DACA dispute is the latest major case brought to the Supreme Court for its consideration arising from Trump’s immigration policies. The justices are due to hear arguments in April on the legality of his latest travel ban order barring entry to people from several Muslim-majority nations.Trump’s move to rescind DACA prompted legal challenges by Democratic state attorneys general and various organizations and individuals in multiple federal courts.On 13 Feb, a second US judge issued a similar injunction ordering the administration to keep DACA in place. US District Judge Nicholas Garaufis in Brooklyn acted in a lawsuit brought by plaintiffs including a group of states led by New York.Judges Alsup and Garaufis did not say that the administration could not at some point end the program, only that there was evidence it did not follow the correct procedures in doing so.The rulings allow those who had previously applied for protections and whose two-year status was soon to expire to apply beyond the deadline set by the administration in September. The original plan put on hold by the court rulings said that only those who re-applied by October and whose status was due to expire by 5 March could re-apply.The administration is not processing new applications.last_img read more