Is There Room for Consolidation in the Dry Bulk Industry?

first_imgConsolidation through mergers and acquisitions has been a very prominent trend in the container shipping industry, and more recently the tanker sector. Liner majors such as Maersk Line, Hapag-Lloyd and CMA CGM have already availed of the opportunity to bolster their fleets and reap the benefits.Nevertheless, there are opposite opinions when it comes to consolidation in the dry bulk shipping industry.“At least five fleet consolidations will take place within the next twelve months,” Robert Bugbee, President of Scorpio Bulkers, said while speaking in a panel discussion on the dry bulk shipping industry organized by CapitalLink.At least three of these are expected to take place by June, Bugbee added, without specifying details of the companies that might turn to such a move.As explained, the consolidation is ready to happen in the dry bulk as well, especially taking into account the fact that providers of capital have expressed their preference of giving capital to larger companies rather than smaller market players. As a result, a number of companies in the market are considering joining forces and have launched discussions with counterparts and investment bankers.On the other hand, Polys Hajioannou, Chairman and CEO of Safe Bulkers, doesn’t believe there will be much consolidation in the dry bulk sector.“Each company has is own ideas and policies, and I don’t see many companies out there that could come together and make a meaningful contribution through consolidation,” Hajioannou said.The example of Fredriksen Group acquiring Quintana last year was an exception and had a good timing, according to Hajioannou. However, the deal is not likely to usher in a trend in the industry, he explains.The forecasts are being made as the dry bulk sector emerges from the historically low point in the shipping cycle driven by higher demand for dry bulk cargo originating from China and Brazil. The fundamentals on the supply side have also reached a good point, especially due to the yard availability constraints that are expected to keep ordering activity at bay.World Maritime News Stafflast_img read more

Craig Kimbrel injury update: Cubs put closer on IL with knee inflammation

first_img Willson Contreras injury update: Cubs catcher (hamstring) expected to miss 4 weeks, report says It’s the latest bump in an up-and-down season for Kimbrel, who has struggled to find consistency since signing with the Cubs on June 7 after sitting out spring training and nearly half the season. While the 31-year-old seemed to have found a groove after a rough start to his Chicago tenure, converting six consecutive save chances last month, he recently suffered a brutal blown save in Milwaukee, allowing a pair of 10th-inning homers in a 5-3 loss after the Cubs had taken a lead in the top of the inning.  Related News The Cubs will have to shuffle their bullpen once again after Craig Kimbrel landed on the injured list Monday with right knee inflammation. The team said Kimbrel reported feeling discomfort after his most recent outing Saturday against the Brewers and underwent an MRI, which revealed the issue.  He told reporters Monday that the knee problem is something he would “absolutely” be able to pitch through if necessary, but the team was being cautious in the way it handles the injury. Kimbrel expressed frustration with the setback, saying (via the Sun-Times) he finally felt as if he was back to his expected standards after the late start to the season. “I was getting real close,” he said. “I was feeling really good.”center_img Rockies removing Wade Davis from closer role, Bud Black says Steve Cishek would be the logical choice to take over closer duties in Kimbrel’s absence.He and Pedro Strop filled the role before Kimbrel’s arrival, but Strop is currently on the IL with a neck problem.last_img read more

Besta FA Cup final set in two weeks

first_imgSix men and four women teams from the four regions will be up for the challenge.Southern Region will have Koupa 2 and Koupa 3 for the men while women will be represented by PMSA.In the Momase region it will be the big guns Madang and LFA for the men’s and Lahi for the women.Madang has qualified as the runner-up for the Momase region after the Momase Regional Body found some technical errors for the participation of Situm Soccer Association in the Momase Regional leg.The Highlands will be represented by Hagen men and Goroka women while in the New Guinea Islands there will be defending champiosn Manus men and Kavieng Town Soccer Association women (KTSA).PMSA women who once clinched  the title in 2013 and failed to participate in last year’s finals are now looking to bring the women’s title back to POM this year.All semi final matches will be played in both the Lae Football Association Park and Sir Ignatius Kilage Stadium while the grand final will played at Sir Ignatius Kilage Stadium.PNGFA general secretary Dimirit Mileng said the finals date had been moved forward due to the unavailability of the Kilage stadium on the earlier announced dates.He urges all teams qualified for the finals to prepare their travel arrangements before the date announced.last_img read more


first_imgSEAMUS O’DONNELLThe death has taken place in Cardiff, Wales of Seamus O’Donnell, formerly of Meenmore, Dungloe.  His remains will arrive at his late residence tomorrow, Thursday, at 2pm. Funeral mass on Friday at 11am in St Columba’s Church, Acres, followed by Belcruit cemetery. House private please from  11pm to 9am.LOTTIE JOHNSTON The death has occurred of Lottie Johnston, Church Road, Bundoran. Reposing at the Rock Nursing Unit Ballyshannon today, Wednesday, from 5pm until removal at 6.30pm to the Church of Our Lady Star of the Sea, Bundoran to arrive at 7pm. Requiem Mass tomorrow, Thursday, at 11am. Burial afterwards in St. Ninnidh’s Cemetery Bundoran.DONEGAL DEATH NOTICES FOR WEDNESDAY, MAY 23, 2012 was last modified: May 23rd, 2012 by BrendaShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:2012DONEGAL DEATH NOTICES FOR WEDNESDAYMAY 23last_img read more