GasLog Partners Earnings Shrink

first_imgzoom Greece-based owner and operator of LNG carriers GasLog Partners has seen its profit for the second quarter of 2017 decrease by 9 percent to USD 20.5 million from USD 22.5 million seen in the three-month period ended June 30, 2016.The decrease in profit is attributable to an increase of USD 2.3 million in net financial costs, mainly due to increased interest expense and loss on interest rate swaps in the three months ended June 30, 2017, partially offset by an increase in profit from operations of USD 0.4 million.Despite a decrease in profit, the company’s quarterly revenues witnessed a slight rise of 2 percent ending the quarter at USD 65.2 million, compared to USD 64 million reported in the same period a year earlier.Subsequent to the end of the second quarter, the company completed the acquisition of the GasLog Geneva from GasLog for USD 211 million, with attached multi-year charter to a subsidiary of Shell. Earlier in the quarter, the company also finalized the purchase of LNG tanker GasLog Greece.“Following the successful acquisition of the GasLog Greece, GasLog Partners delivered our highest-ever quarterly Partnership Performance Results for Revenues and EBITDA, among other metrics,” Andrew Orekar, Chief Executive Officer, said.The acquisitions expanded the Partnership’s fleet to 11 wholly owned LNG carriers.last_img read more

BW Offshore Extends Contract for FPSO Polvo

first_imgzoom BW Offshore has secured a one-year extension for the lease and operation of the Polvo floating production storage and offloading (FPSO) unit.Under the terms of the agreement signed with Petrorio, the firm period has been extended from Q3 2018 to Q3 2019, with options until Q3 2022.FPSO Polvo is a 299,930 cbm FPSO tanker built in Japan in 1981.Separately, BW Offshore said that the BW Catcher FPSO received the first oil certificate on January 6, 2018. This follows the completion of the 72-hour interim performance test subsequent to the introduction of hydrocarbons on December 23, 2017.As informed, the certificate confirms the commencement of a seven-year fixed term contract, with extension options of up to 18 years.Currently, BW Offshore has a fleet of 15 owned FPSOs and one floating storage and offloading (FSO) unit.last_img read more

Future uncertain for Bowbazars jewellery hub

first_imgKolkata: The jewellery industry in Bowbazar stares at an uncertain future, after being badly hit due to the effect of the damage caused by the tunnel boring work of East-West Metro.The All India Gem & Jewellery Domestic Council (GJC) will prepare a list of the artisans who have been hit due to its impact and will submit it to Kolkata Metro Railway Corporation Ltd (KMRCL), seeking compensation. “The jewellery shops are located on the main stretch of B B Ganguly Street but the workshops of the artisans associated with these shops are located in and around Durga Pithuri Lane, Syakra Para Lane and Gour De Lane that have been affected badly. 350 such artisans working in 85 workshops located in this area are now at a complete loss as they have been asked not to go and work in the workshops,” said Bablu De, working president of Swarna Silpa Bachao Committee. Also Read – Bengal family worships Muslim girl as Goddess Durga in Kumari PujaDe said that during the Pujas there is usually brisk business for the jewellery shops and the workshops in the area are abuzz with activities. “The papers of transaction and other documents of orders and even raw materials for the manufacture of jewellery are lying trapped in several workshops and the shops are being unable to cater to the orders given by customers,” pointed out Tagar Poddar, general secretary of Bangiya Swarnashilpi Samity. Initially, when the collapse of the houses was reported, 36 shops on B B Ganguly Street were closed by the administration citing safety concerns. The matter was taken up with the top brass of Kolkata Police, Mayor Firhad Hakim and MLA Tapas Roy, who is also a resident of Bowbazar and after some days, the shops were allowed to open.last_img read more

Rice Lockheed Martin partner on nanotech research

first_imgAddThis ShareCONTACTS:Tom GreerLockheed Martin301-897-6457thomas.greer@lmco.com Jade BoydRice University713-348-6778jadeboyd@rice.edu   Rice, Lockheed Martin partner on nanotech research Lockheed Martin and Rice University announced April 22 the creation of an innovative, strategic partnership to develop new technologies for a broad range of applications in electronics, energy and security. The Lockheed Martin Advanced Nanotechnology Center of Excellence at Rice University, or LANCER, will pair researchers from Lockheed Martin with Rice experts in carbon nanotechnology, photonics, plasmonics and more. LANCER will be based at Rice’s Richard E. Smalley Institute for Nanoscale Science and Technology. “Nanotechnology promises to impact everything from the clothes people wear to the energy they consume, and it will also revolutionize the systems and services Lockheed Martin delivers to its government customers,” said Sharon Smith, director of Advanced Technology, Lockheed Martin. “We are excited to partner with Rice, a recognized leader in nanotechnology research, to collaborate on those breakthroughs leading us to next generation products and services for our nation.” LANCER grew out of a series of technology exchange events between the Smalley Institute and Lockheed Martin scientists in recent years, led by Rice faculty and designed to keep Lockheed Martin researchers apprised of the latest nanotechnology discoveries. “LANCER formed from the bottom-up, and that sets it apart from other ambitious university-industry research partnerships,” said Wade Adams, director of Rice’s Richard E. Smalley Institute for Nanoscale Science and Technology. “The folks in the labs are the ones who came to us and said, ‘Make it easier for us to work together.’” When Lockheed Martin researchers visited Rice in March, for instance, the Smalley Institute and the Rice Alliance for Technology and Entrepreneurship sponsored a round-robin session that initiated dozens of conversations between Lockheed Martin project managers and Rice faculty on promising areas of collaborative research. LANCER officials are evaluating a number of specific proposals that grew out of those meetings. The kinds of technologies discussed include:last_img read more