OOIL Selling Long Beach Terminal for USD 178 Bn

first_imgzoomImage Courtesy: Long Beach Container Terminal Hong Kong-listed Orient Overseas (International) Limited (OOIL) has reached an agreement to sell the Long Beach Container Terminal to a consortium led by Macquarie Infrastructure Partners.Under the sale and purchase agreement, the 100% of LBCT LLC, the operator of the terminal in California, United States, would be sold to MIP for USD 1.78 billion.The sale was launched following the National Security Agreement entered into by OOIL, Faulkner Global Holdings Limited, a subsidiary of COSCO SHIPPING Holdings, the U.S. Department of Homeland Security and the U.S. Department of Justice on July 6, 2018, under which OOIL committed to divest its ownership of the Long Beach Container Terminal business.As part of the deal, OOIL’s Orient Overseas Container Line would sign a 20-year container stevedoring and terminal services contract.“Over the past thirty years, we have developed Long Beach Container Terminal into the safest, most efficient and lowest-emission terminal in the United States. We are confident of the future prospects of the terminal under the ownership of MIP and its co-investors, and we look forward to being a long term strategic customer of Long Beach Container Terminal and the Port of Long Beach,” Andy Tung, Co-Chief Executive Officer of OOCL, said.Karl Kuchel, Chief Executive Officer of MIP, added that the company is committed to completing the current expansion of LBCT by 2022, expected to significantly increase the capacity of the terminal.The completion of the sale will be subject to approvals from the relevant regulatory authorities and other customary conditions.last_img read more


Demolition of temple SC asks Punjab Haryana Delhi to ensure no law

first_imgNew Delhi: The Supreme Court on Monday said that its orders on the Guru Ravidas Temple in Tughlaqabad forest area here cannot be given a “political colour”. A bench comprising Justices Arun Mishra and M R Shah asked governments of Punjab, Haryana and Delhi to ensure that no law and order situation is created politically or otherwise during the protests over the demolition of temple. “Everything cannot be political. Our orders can’t be given a political colour by anybody on earth” the bench said. The Delhi Development Authority (DDA) had demolished the temple pursuant to the orders of the apex court, which had on August 9 observed that “serious breach” had been committed by Guru Ravidas Jainti Samaroh Samiti by not vacating the forest area as earlier ordered by the top court.last_img read more


The AAF is suspending football operations immediately

first_imgThe AAF is suspending football operations immediately Posted: April 2, 2019 KUSI Sports, SAN DIEGO (KUSI) – Despite having only two regular season games remaining, the San Diego Fleet and the other seven teams in the Alliance of American Football apparently suspended all operations Tuesday, according to multiple reports.Pro Football Talk reported rumblings of the league’s demise Monday night, followed by the Action Network’s Darren Rovell. KUSI Sports AAF had a call with NFLPA reps yesterday that showed signs of life, so some executives found it strange that Dundon wanted to stop funding it so soon https://t.co/UTvHbKsAZ5— Darren Rovell (@darrenrovell) April 2, 2019 Updated: 12:40 PM Sources: The AAF will suspend all football operations today. New owner Tom Dundon will lose approximately $70 million on his investment. Dundon makes decision against wishes of league co-founders Charlie Ebersol and Bill Polian.— Darren Rovell (@darrenrovell) April 2, 2019Tom Dundon, the league’s majority owner and the owner of the Carolina Hurricanes hockey team, raised the specter of closing the league in an interview last week with USA Tuesday.Representatives of the San Diego Fleet did not immediately respond to a request for comment.The San Diego squad was scheduled to play the Orlando Apollos on Saturday before closing the regular season at home April 14 against the Arizona Hotshots. At 3-5, the Fleet needed to win out to have a chance at making the playoffs as one of the top two teams in the league’s Western Conference.The fledgling league was only eight weeks into its first season, but faced immediate and future questions of funding and where each team’s players would come from. AAF co-founders Charlie Ebersol and Bill Polian intended to run the league independently for three years, with each season coming as a reprieve for football-starved fans during the NFL offseason. Ebersol and Polian planned to eventually form a partnership with the NFL as a developmental league.According to Rovell and others, Dundon, who purchased a majority stake in the league in February, wanted to form that partnership this season and pressured the NFL Players Association to share players on NFL practice squads. Dundon argued the league could not survive without NFL support.The NFLPA balked at the rushed relationship and the NFL’s collective bargaining agreement made some of his demands impossible. Dundon apparently chose to suspend the league rather than continue committing money to it. Pro Football Talk reported Monday night that the league required $20 million to make it through the April 27 championship game.The Fleet played its games at SDCCU Stadium, with estimated turnouts growing to nearly 20,000 by season’s end. The Fleet also led the league in merchandise sales. April 2, 2019 Prevailing thought that AAF owner Tom Dundon shut down the league to strip it of its assets, mainly the tech piece, is interesting, but sources say it would likely be illegal https://t.co/UTvHbKsAZ5— Darren Rovell (@darrenrovell) April 2, 2019 Categories: Local San Diego News, Sports FacebookTwitterlast_img read more


ADC Membership to Cast Ballots for New Officers

first_img Dan Cohen AUTHOR ADC members will have an opportunity to usher in new leadership for the association next month at the 2017 Defense Communities National Summit in Washington, D.C., when they vote on a slate of new candidates for board president, vice president and treasurer, and two new candidates to join the board of directors.William Parry, city manager for Gatesville, Texas, has been nominated to become ADC’s next president. Parry has been the association’s vice president since 2016 and has served on the board since 2014. He would replace Mike Cooper, chairman of the Oklahoma Strategic Military Planning Commission, as board president.Joe Driskill, the Missouri military advocate, has been nominated for vice president. Driskill was first elected to the ADC board in 2015. Susan Morris, a principal at Booz Allen Hamilton, has been nominated to become board treasurer. She has served on the board since 2016.If elected, each officer would serve a two-year term.Members also will vote on two new candidates for the board:Maurice “Mo” McDonald, executive vice president for aerospace and defense at the Dayton Development CoalitionSteve Levesque, executive director for the Midcoast Regional Redevelopment AuthorityIf elected, each would serve a three-year term.In addition, three current board members are running for new terms. Each would fill a term of varying length:Jeff Giangiuli, consultant at Calibre (one-year term)William Parry, city manager for Gatesville, Texas (two-year term)David Anderson, CEO for Bay West LLC (three-year term)This year’s board slate reflects the association’s recent effort to overhaul its process for nominating board members and criteria for selecting candidates. Under the new selection criteria, the nominations committee seeks board members that represent a spectrum of roles critical to ADC, including community advocates, experts in installation management or redevelopment, leaders in military-community partnerships and individuals with knowledge of national defense policy issues.The annual membership meeting will take place during the ADC Leadership Breakfast on Tuesday, June 20 from 7:15 to 9:30 a.m. at the Washington Hilton. Attendance is limited to one representative from each member. To attend, please RSVP to Noah Johnson at njohnson@defensecommunities.org by June 13.last_img read more


Union Budget 2017 Highlights of railway budget withdrawal of service charge on

first_imgAfter uncertainty over whether Budget 2017 would go ahead due former union minister E Ahamed’s death, it was decided that it would go ahead as scheduled on Wednesday. This is the first time the rail budget has been a part of the Union budget.Also read: Live Union Budget 2017: Here is FM Arun Jailtley’s speech, top highlightsCapital and developmental expenditure for FY2018 for Indian Railways increased to Rs 1,31,000 crore from Rs 1,21,000 crore in FY2017.The rail budget focussed on rail safety and improving infrastructure. Apart from allocating a massive corpus for rail safety the railways is also looking to eliminate unmanned broad guage to increase safety. The Finance Minister announced some perks for those who do digital bookings through IRCTC. The government is also going big on changing to clean energy sources. The Indian Railways will also be looking to increase its network this year. The railways, which already employees one third of Union government employees, is working to increase job creation with a new metro rail policy. It is also looking to create more differently-abled friendly stations. “Unified budget provides an opportunity for integrated transport solutions by synergising rail, road & waterways transportation investments,” Finance Minister Arun Jaitley said. “Railways will integrate end to end transport solutions for selected commodities through partnership,” he added. Here are 13 things Finance Minister Arun Jaitley announced in his rail budget 1. Rail safety fund with corpus of Rs 100,000 crore will be created over a period of five years. 2. A new metro rail policy will be announced, which will open up new jobs for youth. 3. Atleast 25 stations expected to be awarded during 2017-183. 500 stations to be made differently abled-friendly by providing lifts and escalators. 6. Unmanned broad gauge to be eliminated by 2020. 7. As much as 3,500 km railway lines to be commissioned in 2017. 8. Dedicated trains for pilgrims will be launched. 9. As many as 7,000 railway stations to be solar powered. Already 300 stations have been solar powered. 10. All coaches of the Indian Railways will have bio-toilets by 2019. 11. Cashless transaction has gone up from 58 percent to 68 percent. 12. Service charge for those booking through IRCTC to be removed. 13. IRCTC, IRCON to be listed this year.last_img read more


ACME Solar terminates deal with NTPC for 600 MW project wants bank

first_imgRepresentational ImageReutersAcme Solar, one of India’s fastest growing companies in the solar energy sector, has refused to work on a 600 MW project of the NTPC. Acme Solar has told NTPC that the agreement is no longer feasible as the Telangana government did not give regulatory approvals within two months of signing the power purchase agreement (PPA).The solar developer had quoted a tariff of Rs 2.59 per unit to win the project in an auction. In the PPA, the trading margin and the power capacity had to be approved by the Telangana State Regulatory Commission (TSERC).  Acme has now asked NTPC to return its bank guarantee within three days, reported Economic Times. NTPC, on the other hand, has asked for an extension that was denied by Acme stating terms of uncertainty in the project and questioning the commercial feasibility and financial viability of the project if it is taken forward.NTPC has decided to reduce the tariff by 31 paise from the allotted tariff of Rs 2.59 per unit if Acme denies the imposition of the safeguard duty. Safeguard duty of 26 per cent was imposed by the Director-General of Trade Remedies in July last year between the bid submission for the NTPC auction and the holding of the actual reverse auction.Acme has disagreed with the imposition stating that it is not permissible by law to impose new conditions after the bidding process is completed.last_img read more


Quader slams BNP over 21 Aug trial demands

first_imgAL general secretary Obaidul QuaderAwami League general secretary Obaidul Quader on Tuesday said BNP’s demand for the trial of 21 August  grenade attack is a ‘cruel joke’ about the barbaric and brutal killing.”The patrons of 21 August  killers want the trial of the killing. The BNP leaders want justice for the August 21 killing incident. How can you describe it? It’s a cruel joke about a barbaric and brutal killing,” he said.Quader, also the road transport and bridges minister, came up with the comment while speaking at the concluding discussion of the month-long programme of the Mourning Month of August at Mohanagar Natya Mancha, reports UNB.Awami Jubo League organised the programme.On Monday, BNP secretary general Mirza Fakhrul Islam Alamgir at a press conference said, “As in the past, we still condemn and protest the brutal incident of 21 August  grenade on an Awami League rally in 2004. We want a fair trial and exemplary punishment to culprits responsible for the attack, so that such a ruthless incident does not happen again.”Reacting to Fakhrul’s comment, Quader said it is BNP’s dirty politics. “They (BNP leaders) can kill on one hand and seek justice for it on the other and they can indulge in corruption and seek justice for it. Even, they can pretend to be innocent after being convicted.”He alleged that Awami League’s ‘masked enemies’ are now very active to spread propaganda against the government. “We’ve veiled enemies. It’s the masked enemies, not BNP-Jamaat, who are now very active. They’re spreading rumours and propaganda. Their existence is there both in the civil society and the mass media.”Quader urged the ruling party leaders and activists to remain united as the conspirators are trying to oust the Sheikh Hasina-led government by creating chaos in the country.last_img read more


Now thats funny

first_imgOxford Bookstore Connaught Place hosted an evening with a very talented group of illustrators, animation film-makers and comic book artists. The evening curated by Yodakin began with Graphic Readings by Prayas Abhinav, Priya Kuriyan, Dyuti Mittal and Shohei Emura from their comics, followed by an interesting conversation between DOGS! co-editor, Vidyun Sabhaney and Manjula Narayan on compiling this comics anthology.DOGS! an anthology of comics dedicated to life’s canine companions, is a self published project via authorsupfront.com. It features artists and writers from both India and the U.S. DOGS! is the second endeavour of Captain Bijli Comics, a comics publishing project based in New Delhi which Also Read – ‘Playing Jojo was emotionally exhausting’aims to promote collaboration amongst comics creators and develop new content and dialogue in comics.Experience the life of dogs through a series of comics by some of the popular artists and writers from India and abroad. DOGS aims to highlight the life of the canine companions by the comics’ creator’s vision. Some of the contributors of this series are Aditya Dipankar, Aniruddha Sen Gupta, Cristina Mezuk, Dyuti Mittal, Jack Zaloga, Jeremy Stoll, Mindy Indy, Orijit Sen, Patrick Goussy, Prayas Abhinav, Priya Kuriyan, Pia Hazarika, Shohei Emura, Vidyun Sabhaney. Also Read – Leslie doing new comedy special with NetflixIn this collection you will encounter dogs that are post-apocalyptic, self-reflective, murderous, environmentally-conscious-and much more! The collection of comics was conceived after a series of meandering conversations with artists revealed a shared admiration for dogs amongst comics-wallahs, as well as a collective desire to explore what the world would look like from the other end of a snout.  Proceeds from the sales of this comic go to Sai Ashram Animal Shelter and Red Paws Rescue based in New Delhi.last_img read more


Petrol diesel rates likely to be cut by Rs 1L

first_imgPetrol and diesel prices are likely to be cut by close to Re 1 per litre this weekend on sliding global oil rates.This would be the seventh reduction in petrol prices since August and the third in rates of diesel since its decontrol last month.State-owned fuel retailers Indian Oil Corp (IOC), Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL) following the fortnightly review practice, are due to revise rates of petrol and diesel on Saturday.In all probability, rates will be reduced if the current trend of declining international oil prices continue, industry sources said.last_img read more