News / COSCO back in the black, with a little help from its state friends

first_img© Vladimir Serebryanskiy By Mike Wackett 04/04/2018 COSCO Shipping posted a net profit of $264m in 2017, reversing a loss of $1.1bn in the previous year, as it targets a June date for closing the $6.3bn takeover of Orient Overseas International Lines (OOIL) and its container line arm, OOCL.Turnover at the Chinese state-owned carrier leapt 30%, compared with the previous year, to $12.8bn, although revenue from the merger of Chinese Shipping Container Line (CSCL) was not consolidated until March 2016.Similarly COSCO’s liftings were up by 24% on the previous year at 20.9m teu, but Alphaliner notes that if CSCL’s volumes had been included from January 2016, this would still have represented an impressive well-above industry growth of 16%.Interestingly, the consultant noted that more than 30% of COSCO’s total liftings in 2017 came from its domestic shipping volumes, with intra-Asia making up just under 30% and the combined Asia-Europe and transpacific tradelanes accounting for around the same.The emphasis on domestic and regional trade explains COSCO’s low average rate of approximately $580 per teu, compared with Maersk Line and other peers of some $1,000 per teu across all trades.Alphaliner also noted that the carrier’s results were boosted by some $173m during a year of Chinese government state handouts for vessel scrapping and other subsidies.Meanwhile, the takeover of OOCL, currently the world’s eighth-largest carrier, is on track to be completed by 30 June, according to COSCO’s vice-chairman, Huang Xiaowen.In a press briefing yesterday in Shanghai, Reuters reported Mr Huang giving a positive message on the deal: “Up to now we are quite confident to push forward this acquisition…it’s progressing normally.”The takeover is still awaiting the final approval of US and Chinese regulators, having already been cleared by the EU and other jurisdictions, but Mr Huang said the company was still answering questions from the US Committee on Foreign Investment related to assets that OOCL owns in America.Once the transaction is complete, COSCO will have 90.1% of the shares in OOCL, with compatriot Shanghai International Port Group (SIPG) holding the balance.COSCO/OOCL will have a combined capacity of 2,587,000 teu (according to Alphaliner data) which will lift it above CMA CGM’s 2,527,286 teu into the position of third-ranked container line.Moreover, COSCO has an orderbook of 443,000 teu, compared with CMA CGM’s 277,000 teu.As the larger carrier it will also take over lead line status of the Ocean Alliance vessel-sharing agreement.COSCO said it was expecting further growth in demand due to the continued global recovery, but Mr Huang said that it was closely monitoring the increased trade tensions between the US and China which has resulted in a raft of tit-for-tat tariffs in the past days.last_img read more

Game on for traceability

first_imgGame on for traceability The Hon David Littleproud MPMinister for Agriculture, Drought and Emergency ManagementA grant has been awarded to a project to enhance traceability in the kangaroo meat industry.This project is one of 14 to receive funding under Round 2 of the Australian Government’s Traceability Grants Program.Western Game Processing has been awarded a $297,000 grant to create an app to enhance traceability for the kangaroo and wild game harvesting industry.Minister for Agriculture, Drought and Emergency Management David Littleproud said that underpinning the reliability and sustainability of game meat was becoming increasingly important.“This grant will go towards creating an app and an internet dashboard to log real-time kangaroo harvesting data, from point of origin to processing,” Minister Littleproud said.“While data is currently collected on kangaroos harvested, this system will eliminate the need for harvesters to manually record data using paper tags.“By digitising the data, we can enhance traceability for biosecurity and food recall, which is important for accessing foreign markets.“Being able to quickly trace kangaroos back to the harvester and the harvest area will also assist in identifying and addressing animal welfare concerns that may arise.“We know that consumers in Australia and internationally want greater transparency and real time advice about the origin and safety of product in the modern digital marketplace.“By tapping into the innovation and ingenuity of Australian industry, these round two projects will give Aussie exporters the competitive edge.”Western Game Processing Director Ben Cameron said the organisation was grateful to receive the grant.“While this project will start off with the kangaroo harvesters who supply our Longreach facility, we’re aiming to extend it to the wider industry and make it available to the Australian game meat industry.“This system will enhance access to the traceability of each kangaroo as they move along the supply chain – from paddock to plate.“It will assist us to monitor and track and trace product. Data collected and shared with stakeholders will also ensure the sustainability of kangaroo populations.”For more details on the 14 successful round two projects visit the Traceability Grants Program website.Fast Facts:The Traceability Grants Program supports industry projects that will enhance our agricultural supply chain traceability systems, including developing and trialing technologies that digitise information flow.The program also aims to provide an advantage for our exporters and to increase opportunities to export Australian commodities.The program is part of the Australian Government’s Modernising Agricultural Trade agenda to support the target of a $100 billion agricultural sector by 2030.The Australian Government is investing $7 million from 2019-20 through to the end of 2022-23 in projects under the Traceability Grants. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Agriculture, animal welfare, Aussie, Australia, Australian, Australian Government, Australian industry, biosecurity, commodities, Emergency Management, Fast Facts, Government, grants program, Longreach, supply chain, sustainabilitylast_img read more

Tash Sultana Releases Long-Awaited Sophomore Studio Album, ‘Terra Firma’ [Stream]

first_imgAustralian singer/songwriter/multi-instrumentalist Tash Sultana has released their sophomore studio album, Terra Firma, via Lonely Lands Records. The long-awaited album follows Tash’s acclaimed 2018 debut, Flow State.Sultana shared a personal note about Terra Firma in a post on Facebook ahead of the album’s release. As Tash notes,And so, it is time … I have been working on this project for the last year and a half every single day. I spent over 200 days literally just recording the album, acouple of months to mix it and couple more to master it. I’ve been holding onto this for the last few months getting myself ready to let this belong to the world. The birth of a new era. I hope you can hear everything I have to say. Every cell, vessel, heart beat, heart string I poured into this. Now it belongs to you. But before you begin, I have one request, for the very first time you hear this record I would like you to take yourself to a quiet space, turn off the lights, light a candle and light some incense- this was the intended listening experience of TERRA FIRMA. Sit back and enjoy the ride. I hope you can see who I am … TS XTash Sultana has blown up considerably since the release of Flow State three years ago. Now one of the hottest acts in Australia and quickly spreading to the rest of the world, Tash has been hard at work promoting Terra Firma ahead of the album’s release. Tash stayed active throughout the pandemic-altered year 2020, releasing a number of singles, creative videos, and unique performances and inking a signature guitar deal with Fender. Tash also performed for 1,000 in-person fans in Sydney in November, marking the artist’s self-described final show as a looping-oriented solo act.Related: Tash Sultana Shuts Down Airport Runway For Live-Looped “Mystik” Performance [Watch]Stream Terra Firma, the new album from Tash Sultana, on the platform of your choice here. You can also stream the full album via Spotify below.Tash Sultana – Terra Firma – Full Albumlast_img read more

KeyBank recognized as a leading disability employer

first_imgKeyBank,Vermont Business Magazine For the third year, KeyBank was recognized by the National Organization on Disability (NOD) as a Leading Disability Employer. NOD announced the award on Thursday, September 26.The National Organization on Disability (NOD) today announced fifty-nine organizations that have been named 2019 NOD Leading Disability Employers.(link is external) See list below.Now in its fourth year, the NOD Leading Disability Employer seal recognizes companies that demonstrate exemplary employment practices for people with disabilities. This annual recognition is designed to commend those organizations that are leading the way in disability hiring and to encourage additional companies to tap into the many benefits of hiring talent with disabilities, including strong consumer preference for companies that employ individuals with disabilities and greater employee engagement across the workforce.The winning organizations were announced at NOD’s Corporate Leadership Council Annual Forum, Shifting the Talent Paradigm: Inclusive Culture for a Modern Workforce, hosted by lead sponsors PwC and Spectrum.“We are honored to accept this award from the NOD, a leader in inclusion for people with disabilities,” said Kim Manigault, chief diversity and inclusion officer. “Inclusion is intentional. This award reflects the work across many lines of business and partnerships that provide supportive experiences for people with disabilities who engage with and work for KeyBank.”Manigault pointed out that 57 million people with disabilities live in America (NOD.org). Here are some of the activities we have underway at KeyBank to support people with disabilities and caregivers:Champions of People with Disabilities (CPD) business networking group: The CPD business networking group strives to create a welcoming environment and sustain inclusive best practices for employees and clients with disabilities and/or caregivers.Encouragement of voluntary self-identification: From 2017 to 2018, there was a 40% increase in employee self-identification; a 44% increased enterprise response rate; and 13% CPD KBING membership increase from 3Q 2018 to 4Q 2018.Talent acquisition: The percentages of hires for individuals have nearly doubled since focused efforts in 2015.Reasonable accommodations from recruitment to employment: When applying for jobs, individuals with disabilities or disabled veterans can request reasonable accommodations to apply.“These winning organizations understand that by harnessing the talents of people with disabilities, they reap the benefits of a more diverse and more productive workforce,” said NOD Chairman Governor Tom Ridge.  “The preeminent challenge before us is to ensure that people with disabilities enjoy full opportunity for employment, enterprise and earnings, and that employers know how to put their talents to work. These 59 organizations certainly have demonstrated they are doing just that, and we applaud their leadership and thank them for their commitment to hiring people with disabilities.”The 2019 NOD Leading Disability Employers are: AccentureAetnaAnthem, Inc.AT&TBarclaysBeckley Veterans Affairs Medical CenterBlue Cross Blue Shield of MichiganThe Boeing CompanyCapital One FinancialColorado Springs UtilitiesComcast NBCUniversalCox CommunicationsThe Walt Disney CompanyThe Dow ChemicalDTE EnergyDXC TechnologyEli Lilly and CompanyErnst & Young, LLPFirstEnergyGeneral MotorsThe Hershey CompanyHilton Worldwide Horizon Blue Cross Blue Shield of New JerseyHumana Inc.Idaho National LaboratoryKaiser PermanenteKeyBankKPMG LLPLockheed Martin CorporationL’Oréal USAMarriott International, Inc.Mayo ClinicMerckMGM Resorts InternationalMoffitt Cancer Center National GridNational Security AgencyNaval Undersea Warfare Center (NUWC) Division, KeyportNew Editions Consulting, Inc.Northrop GrummanOld National BankProcter & GambleProject HIREDPrudential FinancialPwCRandstadRangam Consultants Inc.Reed Smith LLPSEI Investments CompanySempra EnergySkookum Contract ServicesTD BankTennessee Valley Authority (TVA)TIAAT-MobileU.S. BancorpThe Viscardi CenterThe Wehrman Collaborative (WeCo)Wells Fargo & CompanyThe NOD Leading Disability Employer seal is awarded based on data furnished by companies in response to the NOD Disability Employment Tracker™, a free and confidential assessment that benchmarks companies’ disability inclusion programs in the following areas:Climate & CulturePeople PracticesTalent SourcingWorkplace & TechnologyStrategy & MetricsWhile the Tracker is confidential, organizations may opt to be considered for the NOD Leading Disability Employer seal. Responses are scored, taking into account both disability employment practices and performance. Scoring prioritizes practices that are associated with increased disability employment outcomes over time, and companies receive additional points based on the percentage of people with disabilities in their workforce.To be considered for the 2020 NOD Leading Disability Employer seal, companies must complete the Disability Employment Tracker during the qualifying window.Sign up to be notified when the 2019 Disability Employment Tracker(link is external) opens this October. Source: KeyBank. NOD 9.30.2019last_img read more

Custom MMIC is Now ISO 9001:2015 Certified

first_imgCustom MMIC has announced that their growing corporate facility at 300 Apollo Drive, Chelmsford, MA has recently been certified by Nemko as meeting the standards of ISO 9001:2015. This achievement is an evolution from the company’s previous certification to ISO 9001:2008 standards in 2012 and 2015.Custom MMIC continues its expansion with the recent acquisition of additional high volume production equipment. The new network analyzers, test handlers, and automatic die probers will position Custom MMIC for servicing high volume orders with ease. Click here to view their ISO Certificate.last_img