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U-Ming Orders Two VLOCs from Qingdao Beihai

first_imgU-Ming Marine Transport (Singapore), a subsidiary of U-Ming Marine Transport Corporation, has signed a 25-year Contract of Affreightment (COA) with Vale International SA of Switzerland.The COA is the biggest and longest commitment in U-Ming’s history and the total contract value is anticipated to be more than USD 600 million.In order to support the contract, U-Ming has ordered two 325,000 dwt very large ore carriers (VLOC) from China’s Qingdao Beihai Shipbuilding Heavy Industry. The two ore carriers will feature an LNG-Ready design for retrofitting to dual-fuel in the future. The vessels are expected to be delivered in 2020.U-Ming added that each vessel will be equipped with an ecoefficient main engine, SO2 scrubber features, digital optimization systems, and comply with the International Maritime Organization’s 2020 sulphur cap of 0.5% with effect from 2020.“The signing of this long-term contract has further enhanced the cooperation and relationship between Vale International SA and U-Ming. The COA will commence in 2020 until 2045 for transporting Brazilian iron ore to China. We have been able to secure a bigger portion of long-term charters with stabilized revenue and profit for the company,” a U-Ming spokesman said.The company added that the deal comes on the back of a significant recovery of the dry bulk shipping market in 2017, driven by higher demand from China and increasing iron production from mining companies in Australia and Brazil. “This COA is contracted to meet the iron ore demand growth especially in China and other developing countries; and with UMing’s prudent management and customer service oriented vision to create a win-win for both parties,” the company’s spokesperson added.According to Australia official estimates, the world iron ore total export in 2019 will reach 1.378 billion tons, a 7 pct growth as compared to 2017, of which Vale’s new S11D mine will reach a nominal capacity of 90 million tons per annum by 2020 with an iron content of up to 66.7 percent.The total iron ore export from Brazil in 2019 is expected to be 10 percent higher than in 2017.last_img read more

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Garcetti leads Greuel in LA Times/Price poll

first_imgCity Councilman Eric Garcetti has moved into a double-digit lead in the Los Angeles mayoral race over his opponent, City Controller Wendy Greuel, according to a new USC Sol Price School of Public Policy/Los Angeles Times poll.The poll, which was distributed to 500 likely voters in the general election, indicates that Garcetti boasts a 10-point lead with the support of 50 percent of voters compared to Greuel’s 40 percent. The general election will be held on May 21.Though Greuel would be the first female mayor of Los Angeles, if elected, the poll finds that she is trailing Garcetti among female voters. Garcetti has the support of 50 percent of female voters and 51 percent of male voters, compared with Greuel’s 41 and 38 percent, respectively.“Greuel may be suffering from a Hillary Clinton problem,” said Dan Schnur, director of the USC Price/L.A. Times Poll and the Jesse M. Unruh Institute of Politics, in a statement to the press. “Clinton emphasized her qualities of strength and toughness to such a degree that it mitigated her gender advantage. The difference is that Greuel might still have the time to fix it.”The poll also found that Garcetti leads among young voters, as well as white and Latino voters. Though the poll indicates that black voters are leaning toward Greuel, the poll acknowledged its sample size of black voters was too small to draw any firm conclusions.The poll indicates that Greuel’s support from organized labor may also be hurting her election chances, as many voters view her as being tied to labor unions. When asked who the phrase “Cares more about unions representing city employees than Los Angeles as a whole” describes more, 46 percent of polled voters said Greuel, whereas only 26 percent said Garcetti.Garcetti also won among voters as someone who represents all of Los Angeles, can make tough decisions and has a strong vision for L.A.On the issues, voters trusted Greuel more to handle the budget and education but trusted Garcetti to handle crime, jobs and mass transit.The poll also indicated that reforming pensions for public employees is a major concern for voters, with 34 percent of voters reported saying that it should be “one of the most important priorities” for the new mayor and 45 percent saying it should be “important, but not at the top of the list.”“Pensions are important and can be indicative of a candidate’s values,” said Amy Levin, vice president of Democratic polling firm Benenson Strategy Group who conducted the poll, in a statement to the press. “But with an election at this level, it’s much more about voters and what is going on in their daily lives and what they want for their families than about city budgets.”last_img read more

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Salah and Mane to score against Newcastle – Mybet.africa

first_imgOne of the leading sportsbook makers in Africa, mybet.africa, strongly believes both Salah and Mane will score this weekend when Liverpool welcome Newcastle at Anfield to signify unity.The sight of the usually mild-mannered Sadio Mane, incandescent with anger, aimed in the direction of Mohamed Salah, raised eyebrows at Turf Moor.Liverpool had done enough to walk away from Burnley with the points after a tactical display saw them run out 3-0 winners. Mane was clearly irked at an incident prior to his substitution where Salah had elected to try and shift the ball onto his unfavoured right foot for a shot when the No.10 man was unmarked and ready for a simple tap-in.However, mybet.Africa believes the two will settle their differences on the field on Saturday hence they are offering special odds of 3.0 to sports punter to place a bet on the match. Punters who bet 10GHs will get 10GHs bonus for Liverpool’s Champion League match on Tuesday in addition to their winnings should both players score.Salah and Mane shared a Premier League Golden Boot award last season, with twenty-two goals apiece, and the influential African duo has started this season in electric form, scoring five between them for the Reds so far. Both Salah and Mane have played 10 matches respectively this season, with both players scoring five goals with two assist each. However, for four matches played in the EPL,  Mane has scored twice, whiles Salah has scored three goals. The international break has afforded the pair the perfect chance to rest up and smoke the peace pipe as much will be expected from the duo this weekend.Liverpool will play six times, between September 14, and October 2. They will need all hands on deck for a busy period of action that includes games in the Champions League, Premier League and Carabao Cup.Klopp will be enthused by the fact that he has been able to work with his biggest goal threats for the entire week ahead of the opportunity to open up a five-point lead at the top of the league table at home to Newcastle.last_img read more

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