Articles on this Page
- 11/14/18--00:04: _Planet DDS Welcomes...
- 11/14/18--01:05: _Chicago's Largest R...
- 11/14/18--08:55: _Montenegrin activis...
- 11/14/18--08:47: _Sabina Gold & Silve...
- 11/14/18--09:07: _Southern Resident K...
- 11/14/18--10:22: _Nassau police dedic...
- 11/14/18--10:09: _Green Calgary Earns...
- 11/14/18--11:08: _ICC Introduces FC-3...
- 11/14/18--11:25: _Ship traffic, Novem...
- 11/14/18--12:37: _Man Banned From Dis...
- 11/14/18--13:29: _Missing American re...
- 11/14/18--13:02: _Larson Electronics ...
- 11/14/18--14:00: _Orion Group Holding...
- 11/14/18--15:02: _Disney World Bans U...
- 11/14/18--16:01: _Carmanah Reports Th...
- 11/14/18--21:27: _The 12-year-old who...
- 11/14/18--23:07: _AS Tallinna Sadam f...
- 11/14/18--23:07: _GC Rieber Shipping:...
- 11/14/18--23:07: _PGS: Preferred tend...
- 11/14/18--23:31: _MSIG Launches Home ...
- 11/14/18--00:04: Planet DDS Welcomes Hannah Cohen as Vice President of Operations
- 11/14/18--08:55: Montenegrin activists protest against Adriatic oil prospecting
- 11/14/18--10:22: Nassau police dedicates new marine unit to fallen "9/11 heroes"
- 11/14/18--10:09: Green Calgary Earns CIPH National Water Wise Award
- 11/14/18--11:08: ICC Introduces FC-335 Series MIL-SPEC Relays from TE Connectivity
- 11/14/18--11:25: Ship traffic, November 15
- 11/14/18--15:02: Disney World Bans US Marine Veteran For ‘Trump 2020’ Sign (PHOTOS)
- 11/14/18--16:01: Carmanah Reports Third Quarter 2018 Results
- 11/14/18--21:27: The 12-year-old who wants to save the oceans
- 11/14/18--23:31: MSIG Launches Home SafeGuard
New Planet DDS Vice President of Operations Hannah Cohen will help streamline entire customer journey to keep pace with growing demand for the company’s Denticon enterprise cloud-based practice management software.
NEWPORT BEACH, Calif. (PRWEB) November 14, 2018
Planet DDS (PDDS), the nation’s leading provider of cloud-based enterprise dental practice management software, announced that Hannah Cohen was joining the company as its new Vice President of Operations.
Prior to joining PDDS, Hannah was Director of Group Operations at DaVita, one of the nation’s leading managed care providers. At DaVita, Hannah oversaw four teams comprised of three multispecialty clinics and an ambulatory surgical center, increasing treatment volume, clinical quality, and patient satisfaction.
Hannah also served for six years in the United States Marine Corps as a communications officer, earning several achievement awards and commendations during her time as an instructor and on deployment to Afghanistan’s Helmand Province, where she led a team that provided communications for 725 Marines performing distributed combat operations. She earned her BA from the University of Pennsylvania before joining the Corps, and went on to complete her studies with an MBA from Dartmouth’s Tuck School of Business.
“Planet DDS is growing rapidly and I’m excited to apply my expertise in operations to help streamline the customer journey while working to avoid any bottlenecks to growth,” noted Cohen.
Demand for the company’s flagship software, Denticon, continues to grow as more and more dental organizations recognize the need for a modern, enterprise-capable solution. The addition of a Vice President of Operations will help facilitate the customer’s journey with PDDS, from initial onboarding all the way to long-term customer success.
“At PDDS, we view our clients as partners, working closely with them to ensure they’re getting the most out of Denticon and leveraging it to achieve optimal efficiency,” added Eric Giesecke, PDDS CEO. “Working so closely with our clients takes time and resources and as more dental groups convert to Denticon, we’re growing our team to keep pace with this exceptional product adoption rate.”
Denticon by Planet DDS is the only proven, time-tested software offering that was built from the ground up for multi-location groups in the cloud. Denticon allows dental organizations to break free from the constraints of desktop software with a comprehensive solution that includes the tools needed to standardize, centralize, and grow. All while reducing IT cost and enhancing security. Learn more about Denticon at http://www.planetdds.com. Reported by PRWeb 2 hours ago.
Chicago's flagship, the 86 foot yacht OCEAN was more than just a race boat -- she was a platform to raise funds for kids in need. The boat has been donated to a maritime school on the west coast and will depart Chicago on November 15.
CHICAGO (PRWEB) November 14, 2018
The yacht OCEAN, Chicago's flagship and largest racing sailboat, has been donated to California State University Maritime Academy in Southern California, with an appraised value of $1.35 million.
OCEAN is the biggest race yacht in Chicago and second in size on all the Great Lakes. She is a marvel of technology with a mast soaring 100 feet, a lifting keel that allows the boat to enter local marinas, a computer-controlled ballast system and a variety of high-tech weather and navigation systems. Her largest sail is 5,000 square feet which is flown from the forward tip of the yacht that measures 86 feet from stem to stern. She has a distinctive deep blue hull upon which the boat’s name OCEAN glistens in assertive gold calligraphy.
“Cal Maritime is incredibly honored and excited to be receiving such an amazing yacht. We look forward to carrying on the OCEAN legacy.” said Tyler Wolk of the academy. “I know she is going where she was born to run. We'll always treasure the memories of racing this great yacht.” said Jim Banovitz, Captain and Pinnacle Foundation board member.
The boat was christened OCEAN upon her arrival in Chicago. Her name was inspired by the poet Satoro who said "Individually, we are a drop of water. Together, we are an ocean." Sentiment that rings clear to her tight crew of sixteen who consider each other family.
OCEAN made her local debut at the Strictly Sail Show at Navy Pier in 2011. In a very rare occurrence, Lake Shore Drive was shut down as the massive boat was trucked to the pier on a blustery winter Sunday.
Her appearance in Chicago shook the race scene. Some in the race circuit said she was too much boat for her crew. Her record of line honor victories and flawless safe sailing eventually won over the early naysayers and propelled the boat and her crew to rock star status in the Great Lakes.
But OCEAN has done far more than win boat races.
She was a platform for fundraising for the Pinnacle Foundation which was created with her arrival, and the centerpiece of the Chicago Regatta, the foundation’s signature event which has since been adopted by the Chicago Yacht Club. To date, the Pinnacle Foundation and affiliated individuals and organizations have donated about $350,000 to child-related organizations, including the University of Chicago's Comer Children's Hospital, Northwestern's Lurie Children's Hospital, Bear Necessities Pediatric Cancer Foundation, SOS Illinois and others. "These are the best wins she gave us." said Gary Feracota, Person in Charge of the yacht and President of the Pinnacle Foundation.
The boat also paid tribute to the heroes of 9/11 with veterans and an honor guard including the US Coast Guard, Navy, Marine Fire and Marine Police. On the infamous anniversaries, she could be seen flying a 40 x 60 foot American Flag from her ten-story mast as she screamed across Chicago's Lakefront in a show of American strength and fortitude.
OCEAN is crewed and owned by sixteen equity partners who raced the yacht hard and gave their time and finances for various charities. “It has been a very emotional time for us.” said Patti Feracota, Partner and Crew Person of the yacht. “Feelings in Chicago run deep about this beautiful boat and everything good she stands for."
"Our team has always known we were caretakers of a work of art and science that would someday pass to the next generation. That day has arrived, and we are all grateful to have had her in our lives. Heartfelt thanks to our dear friends from around world who have helped us campaign the boat on the race course and rally hearts and minds to do good in the community." said Gary Feracota.
OCEAN will depart the Chicago area from Larsen Marine on November 15. Reported by PRWeb 36 minutes ago.
Dozens of Montenegrin environmental activists and fishermen took to the water in the Adriatic port of Bar on Monday to protest at undersea oil prospecting, which they say will endanger marine wildlife and fisheries.
Reported by Reuters 17 hours ago.
*$39.4 million in cash and short-term investments, pre-development activities continue*
VANCOUVER, British Columbia, Nov. 14, 2018 (GLOBE NEWSWIRE) -- Sabina Gold & Silver Corp. (“Sabina”) or (the “Company”) (SBB – TSX) reports the interim financial results for the quarter ended September 30, 2018.
“During the third quarter the Company continued advancing the Back River Project,” said Bruce McLeod, the Company’s President & CEO. “A significant milestone during the quarter was the receipt of a positive Type A Water License recommendation, a key license in authorizing construction and operations activities. We anticipate the receipt of this license shortly. Also during the quarter, the construction of our port in Bathurst Inlet was completed and two major sealifts were received. This is not only a major de-risking component of the project, but also was completed in line with Feasibility Study estimates and ahead of schedule. We also were successful on the exploration front with the new discovery at Nuvuyak. The Nuvuyak zone continues to demonstrate the significant gold endowment of the Back River District and the ability to extend mine life with new discoveries. We look forward to more exploration results and other news through the remainder of the year.”
*Q2 2018** Highlights:*
· During the quarter, the Company continued to advance pre-development activities for the Back River Project, including the selection of the single major vendor that will supply the gold plant equipment, completion of the construction of the Marine Laydown Area (the “Port’) and shipment of equipment and supplies via sealift to the Port.
· A new discovery at the Nuvuyak zone at the Goose Project was made where discovery hole 18GSE 545 intersected 11.58 g/t gold over 39.50 meters with abundant visible gold. This zone sits approximately one kilometer to the West of the Goose Main Deposit.
· On September 24, 2018, the Company announced that the Nunavut Water Board (“NWB”) had provided a positive recommendation to the Minister of Intergovernmental Affairs, Northern Affairs and International Trade that the Type A Water License for the Back River Project should be issued to the Company with proposed terms and conditions. The Type A water License represents a key step in the environmental permitting process enabling activities at the site including both mine construction and operations.
· On Sept 28 and October 1, 2018, the Company completed a non-brokered private placement for 1,048,702 flow-through common shares at a price of $1.56 per share for gross proceeds of approximately $1.6 million. The proceeds must be used to incur Canadian exploration expenditures as defined by the Income Tax Act (Canada) by December 31, 2019. · For the three and nine months ended September 30, 2018, the Company reported net losses of $1.5 million or $0.01 per share and $1.5 million of or $0.02 per share, respectively.
For the nine months ended September 30, 2018, the Company reported a net loss of $4.7 million compared with $2.5 million in the comparative period in 2017. The difference was largely the result of higher operating expenses (share-based payments, professional fees, and listing and transfer fees), a smaller gain on marketable securities and higher income tax expense, all partially offset by an increase in net finance income.
For the full September 30, 2018 interim financial statements and Management’s Discussion and Analysis, please see the Company website at www.sabinagoldsilver.com or on SEDAR.
*Sabina Gold & Silver Corp.*
Sabina Gold & Silver Corp. is well-financed with approximately $39.4 million (September 30, 2018) and is an emerging precious metals company with district scale, advanced, high grade gold assets in one of the world’s newest, politically stable mining jurisdictions: Nunavut, Canada.
Sabina released a Feasibility Study on its 100% owned Back River Gold Project which presents a project that has been designed on a fit-for purpose basis, with the potential to produce ~200,000 ounces a year for ~11 years with a rapid payback of 2.9 years (see “Technical Report for the Initial Project Feasibility Study on the Back River Gold Property, Nunavut, Canada” dated October 28, 2015) (the “Study”). At a US$1,150 gold price and a 0.80 (US$:C$) exchange rate, the Study delivers a potential after tax internal rate of return of approximately 24.2% with an initial CAPEX of $415 million.
The Project received its final Project Certificate on December 19, 2017 and its Type B Water License in March 2018 and a positive recommendation for its Type A Water License expected before the end of the year.
In addition to Back River, Sabina also owns a significant silver royalty on Glencore’s Hackett River Project. The silver royalty on Hackett River’s silver production is comprised of 22.5% of the first 190 million ounces produced and 12.5% of all silver produced thereafter.
All news releases and further information can be found on the Company’s website at www.sabinagoldsilver.com or on SEDAR at www.sedar.com. All technical reports have been filed on www.sedar.com
For further information please contact:
Nicole Hoeller, Vice-President, Communications: * 1 888 648-4218*
*Forward Looking Statements*
This news release contains “forward-looking information” within the meaning of applicable securities laws (the “forward-looking statements”), including our belief as to the extent, results and timing of exploration programs and various studies including the FS, and exploration results, reserves estimates, potential production from and viability of the Company’s properties, production and operating costs and permitting submission, timing and receipt of necessary permits and project approvals for future operations and access to project funding. These forward-looking statements are made as of the date of this news release. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the future circumstances, outcomes or results anticipated in or implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward-looking statements are based will occur. While we have based these forward-looking statements on our expectations about future events as at the date that such statements were prepared, the statements are not a guarantee that such future events will occur and are subject to risks, uncertainties, assumptions and other factors which could cause events or outcomes to differ materially from those expressed or implied by such forward-looking statements. Such factors and assumptions include, among others, the effects of general economic conditions, commodity prices, changing foreign exchange rates and actions by government and regulatory authorities and misjudgments in the course of preparing forward-looking statements. In addition, there are known and unknown risk factors which could cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Known risk factors include risks associated with exploration and project development; the need for additional financing; the calculation of mineral resources and reserves; operational risks associated with mining and mineral processing; fluctuations in metal prices; title matters; government regulation; obtaining and renewing necessary licences and permits; environmental liability and insurance; reliance on key personnel; the potential for conflicts of interest among certain of our officers or directors; the absence of dividends; currency fluctuations; labour disputes; competition; dilution; the volatility of the our common share price and volume; future sales of shares by existing shareholders; and other risks and uncertainties, including those relating to the Back River Project and general risks associated with the mineral exploration and development industry described in our Annual Information Form, financial statements and MD&A for the fiscal period ended December 31, 2017 filed with the Canadian Securities Administrators and available at www.sedar.com. Although we have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. We are under no obligation to update or alter any forward-looking statements except as required under applicable securities laws. This news release has been authorized by the undersigned on behalf of Sabina Gold & Silver Corp.
Bruce McLeod, President & CEO
1800-555 Burrard Street, Two Bentall Centre
Vancouver, BC V7X 1M9
Tel 604 998-4175 Fax 604 998-1051
*http://www.sabinagoldsilver.com* Reported by GlobeNewswire 17 hours ago.
National Fish and Wildlife Foundation projects will support the Washington Governor’s Orca Task Force objectives
SEATTLE, Nov. 14, 2018 (GLOBE NEWSWIRE) -- The National Fish and Wildlife Foundation (NFWF) today announced $742,000 in grants to help stabilize and recover the endangered Southern Resident Killer Whale population through projects on the Skagit and Snohomish rivers, around the San Juan Islands, and throughout the Salish Sea. The grants will generate just over $1 million in matching contributions for a total conservation impact of more than $1.78 million.
The grants were awarded through the Killer Whale Research and Conservation Program (KWRCP), a partnership between NFWF, SeaWorld Entertainment, Inc., Shell Oil Company, the U.S. Fish and Wildlife Service, and NOAA Fisheries. These investments directly support recommendations in a September draft report from Southern Resident Orca Task Force appointed by Washington Gov. Jay Inslee.
“While I have not yet received the official recommendations from the Southern Resident Orca Task Force, I have no doubt that the grants announced today are a positive development,” said Governor Jay Inslee of Washington. “One of the clear challenges facing orcas is smaller salmon runs leading to less available prey, and these projects seek to reverse this decline and provide a healthier future for Southern Residents.”
The 74 Southern Resident killer whales prey on salmon and other fish, but especially prefer Chinook salmon. The six grants announced today support projects to increase the production, survival, and size of Chinook salmon from runs that NOAA Fisheries and the Washington Department of Fish and Wildlife have identified as critical to the Southern Resident killer whales.
“Saving this apex species is an ‘all hands on deck’ situation, as the Governor’s task force has made clear,” said Jeff Trandahl, executive director and CEO of NFWF. “It is only through partnerships supporting a comprehensive approach to conservation that we will be able to reverse the decline of this iconic species of the Pacific Northwest.”
These projects include extensive monitoring to learn how fish hatcheries can best produce the largest salmon when and where the whales most need it, while also protecting wild populations from genetic risks. Projects also include habitat restoration to increase rearing habitat for juvenile fish and carrying capacity for the prioritized Chinook runs, some of which are also imperiled by habitat loss and other factors.
“We are extremely grateful for the support of NFWF and our other partners in funding these critical efforts to improve the health of Southern Resident killer whales over the short and long term,” said Scott Rumsey, Deputy Regional Administrator of NOAA Fisheries’ West Coast Region. “The status of the Southern Resident population is critical, and we all must double down on our efforts to recover these whales and repair the ecosystem they depend on. These grants will advance critical monitoring to better understand how we can improve prey availability in the near term, while also investing in habitat restoration and protection needed for the sustainable recovery of the Southern Residents and the greater Salish Sea ecosystem.”
The KWRCP also supports cutting-edge science, including genetic research, acoustic monitoring and vessel surveys. This research will provide managers with the information and tools they need to help killer whales overcome the threats of pollutants and contaminants in the water, noise, vessel traffic, and lack of prey.
“Focusing on both population and habitat protection is crucial in the recovery of these killer whales. Through these partnerships, and the programs they support through the KWRCP, we are able to address the most critical issues facing this population,” said Dr. Christopher Dold, chief zoological officer for SeaWorld. “Conserving oceans and protecting the animals that live there has been at the core of SeaWorld’s mission for more than 50 years, and we’re honored to continue to support these vital conservation efforts.”
Southern Resident killer whales were listed as endangered in 2005, and NOAA Fisheries has highlighted the population as one of eight national “Species in the Spotlight,” at greatest risk of extinction. While the population of Northern Resident killer whales in British Columbia, which also prey on salmon, is healthy and growing, the 74 Southern Residents have fallen to their lowest number in more than 30 years. The Killer Whale Research and Conservation Program works to understand why the population has failed to recover and takes steps identified in the recovery plan to bring this population back from the brink.
“We are proud to be part of this collaborative effort through the National Fish and Wildlife Foundation to support regional research and conservation efforts aimed to support the recovery of a species that is iconic to the Salish Sea and the cultural heritage of the Pacific Northwest,” said Shirley Yap, Puget Sound Refinery General Manager, Shell Oil Company.
A complete list of the 2018 grants made through the Killer Whale Research and Conservation Program is available here.
For more information about the Governor’s Task Force, please see this link.
*About the National Fish and Wildlife Foundation**
*Chartered by Congress in 1984, the National Fish and Wildlife Foundation (NFWF) protects and restores the nation’s fish, wildlife, plants and habitats. Working with federal, corporate and individual partners, NFWF has funded more than 4,500 organizations and generated a conservation impact of more than $4.8 billion. Learn more at www.nfwf.org.
*About NOAA Fisheries*
NOAA Fisheries is responsible for the stewardship of the nation's ocean resources and their habitat. We provide vital services for the nation: productive and sustainable fisheries, safe sources of seafood, the recovery and conservation of protected resources, and healthy ecosystems—all backed by sound science and an ecosystem-based approach to management. Find out more at www.westcoast.fisheries.noaa.gov.
*About SeaWorld Entertainment, Inc.
*SeaWorld Entertainment, Inc., supports two initiatives at the Foundation that focus on coastal and marine resources, the Killer Whale Research and Conservation Program and the Ocean Health Initiative. The Killer Whale Research and Conservation Program funds efforts to advance the knowledge and conservation of killer whales with a primary focus on activities that aid in the recovery of the Southern Resident killer whale Distinct Population Segment (DPS) and the Northern Pacific Resident population. The Ocean Health Initiative works through other Foundation programs to support a portfolio of projects that bolster the health of threatened marine and coastal species and habitats while engaging communities in these conservation efforts. For more information, visit SeaWorldCares.com
*About Shell Oil Company**
*Shell Oil Company is an affiliate of the Royal Dutch Shell plc, a global group of energy and petrochemical companies with operations in more than 70 countries. In the U.S., Shell operates in 50 states and employs more than 20,000 people working to help tackle the challenges of the new energy future.
Environmental stewardship is one way Shell has continued to share benefits with communities over the past 100 years. Since 1999, Shell has focused our partnerships with many organizations in the U.S. to protect more than 13 million acres of wetlands, clean and remove 600,000 pounds of debris from shoreline, and conserve more than 1.8 million acres of critical habitat.
CONTACT: Rob Blumenthal
National Fish and Wildlife Foundation
email@example.com Reported by GlobeNewswire 17 hours ago.
The Nassau County Police Department christened its newest Marine Bureau boat Wednesday in honor of seven officers who died from 9/11 illnesses.
Reported by Newsday 16 hours ago.
*Small Changes that Lead to Big Impacts*
TORONTO, Nov. 14, 2018 (GLOBE NEWSWIRE) -- Green Calgary, a charity providing environmental education, products, services and hands-on support, has been awarded a national Water Wise Award from the Canadian Institute of Plumbing and Heating (CIPH).
CIPH Chairman Allen Taylor lauded Green Calgary for its leadership in encouraging and inspiring others to champion environmental leadership in their homes, workplaces, schools and communities. Specifically CIPH selected Green Calgary for its Green Homes and Community program designed to help people incorporate simple and affordable green options into the way they live, work and play. Not to be overlooked, CIPH lauds Green Calgary’s annual community rain barrel sales initiative, a program that has saved over a billion litres of water.
“Every community in Canada should be fortunate enough to have an organization like Green Calgary working on its behalf,” said Taylor. “Beyond its commitment to water conservation, we were duly impressed by Green Calgary’s efforts to bring environmental education and programming into schools.”
Green Kids and Generation Green are children and youth programs offered to schools and community groups for youth grades 7-12; providing education, problem-solving skills, and encouragement to make personal changes which promote positive environmental action.
“Green Calgary prides itself on the notion that small changes will lead to big impacts and this award is honestly a huge honour for the environmental work we do,” said Conor Tapp, Green Calgary’s Executive Director. “In addition to thanking CIPH, I’d like to express gratitude to our funders, sponsors, and the people of Calgary for sharing in our belief that we can and should continue to work toward a greener community, country and planet.”
The CIPH award program was developed to recognize outstanding efforts to improve our relationship with water. Past recipients of the CIPH Water Wise Award include WaterAid Canada, Vancouver Aquarium Marine Science Centre, le Fonds Éco IGA, Fisheries & Marine Institute of Memorial University, and Steam Whistle Brewery.
*About Canadian Institute of Plumbing and Heating*
Founded in Montreal in 1933, the CIPH is a not-for-profit trade association that is committed to providing members with the tools for success in today's competitive environment. More than 260 companies are members of this influential Canadian industry association.
They are the manufacturers, wholesaler distributors, master distributors, manufacturers' agents, and allied companies who manufacture and distribute plumbing, heating, hydronic, industrial, waterworks, and other mechanical products. CIPH wholesalers operate more than 700 warehouses and showrooms across Canada. Total industry sales exceed $6.5 billion annually and CIPH members have more than 20,000 employees from coast to coast.
*For information and interview opportunities: *
SELECT Public Relations
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/b7c1ad6b-ebeb-44d4-b0ad-cac05679b6ae Reported by GlobeNewswire 16 hours ago.
FC-335 Series relays are hermetically sealed and offer a higher capacity rating than most standard M83536 relays
LUMBERTON, N.J. (PRWEB) November 14, 2018
Interstate Connecting Components, (ICC), a division of Heilind Mil-Aero and a leading distributor of military-aerospace connectors and accessories worldwide, has added CII FC-335 Series relays from TE Connectivity (TE) -- a global leader in connectivity and sensors.
Built to MIL-PRF-6106 specifications, TE’s CII FC-335 Series relays offer a rugged means of power switching in a variety of aerospace, defense and marine applications.
A key advantage of these non-latching relays is their double-make contacts. Because this design facilitates load sharing across two contact sets, FC-335 Series relays provide a 35 A resistive rating for both 28 VDC and 115 VAC loads – higher than most comparable mid-range relays on the market. Additionally, features like hermetic sealing and an all-welded enclosure make the relays more reliable than similar solder-sealed alternatives.
These versatile relays withstand harsh inductive, motor and lamp loads at over 50,000 mechanical cycles. This makes them ideal for use in power distribution, fuel pumps, guidance and navigation systems, weapons systems and ground support equipment.
Visit ICC's website for more information about TE Connectivity’s CII FC-335 Series relays.
About Interstate Connecting Components (ICC)
A division of Heilind Electronics, North America’s largest interconnect distributor, Interstate Connecting Components (http://www.connecticc.com) is an AS9100D-certified value-added distributor for the entire spectrum of electronic connectors, fiber optic connectors, backshells, tools, identification solutions and connector contacts. ICC specializes in the military-aerospace market and offers T'DA® 2-day assembly on D38999, M28840 and many other MIL-SPEC connector lines. Follow ICC on Facebook at facebook.com/connecticc and on Twitter at twitter.com/connecticc.
About TE Connectivity
TE Connectivity Ltd. is a $14 billion global technology and manufacturing leader creating a safer, sustainable, productive and connected future. For more than 75 years, TE’s connectivity and sensor solutions, proven in the harshest environments, have enabled advancements in transportation, industrial applications, medical technology, energy, data communications and the home. With 80,000 employees, including more than 8,000 engineers, working alongside customers in approximately 140 countries, TE ensures that EVERY CONNECTION COUNTS. Learn more at http://www.te.com and on LinkedIn, Facebook, WeChat and Twitter.
TE Connectivity, TE connectivity logo and EVERY CONNECTION COUNTS are trademarks of the TE Connectivity Ltd. family of companies. Reported by PRWeb 15 hours ago.
Ship traffic Due to arrive today SHIP FROM PORT Cetus Leader Long Beach BNC Colombo Express Los Angeles OAK Ever Smart Los Angeles OAK Green Lake Vancouver, British Columbia RCH Maersk Evora Long Beach OAK MOL Matrix Los Angeles OAK NYK Aquarius Los Angeles OAK Due to depart today SHIP TO PORT Bear Mountain Bridge Tokyo SFO Cetus Leader Toyohashi, Japan BNC CMA CGM Loire Hong Kong OAK Source: S.F. Marine Exchange
Reported by SFGate 15 hours ago.
A former Marine has been banned from Walt Disney World theme parks after he rode the Splash Mountain roller coaster while holding up a Trump 2020 banner.
Reported by cbs4.com 13 hours ago.
The Marine-turned-reporter vanished in Syria in 2012, and the U.S. is pressing Russia for help in freeing him
Reported by CBS News 13 hours ago.
KEMP, Texas, Nov. 14, 2018 (GLOBE NEWSWIRE) -- Larson Electronics, a Texas-based company with over 40 years of experience spearheading the industrial lighting and heating sectors, announced the release of a 120-volt adjustable propane forced air heater that provides 400 CFM of air flow and a heating range of 120,000, 135,000 or 150,000 BTUs of heat output. This portable indoor-use heater is mounted on a flat base and is equipped with a 10-foot hose and regulator.The GAU-GFA-HH-150K portable forced air heater consumes propane at a rate of 5.5 lbs., 6.2 lbs. or 6.9 lbs. per hour based on BTU output, and has a maximum runtime of 18 hours on a full tank. This unit has several safety features, including high-temperature shut-off, thermocouple and flame-out fuel cut. The heater’s controls are also enclosed for added safety.
The durable GAU-GFA-HH-150K propane heater comes with a power cord allowing operators to complete electrical connections and features a carrying handle on the top for easy portability and seamless transportation around any work site. The heater’s base can also be adjusted for accurate placement of the unit. Suitable applications include construction sites, warehouses, commercial spaces, industrial buildings, schools, indoor facilities, barns and more.
*About Larson Electronics LLC: *Larson Electronics LLC is a manufacturer of industrial lighting equipment and accessories. The company offers an extensive catalog of industry-grade lighting and power distribution products for the following sectors: manufacturing, construction, food processing, oil and gas, military, marine and automobile. Customers can benefit from the company’s hands-on, customized approach to lighting solutions. Larson Electronics provides expedited service for quotes, customer support and shipments.
*For further information, please contact:*
Rob Bresnahan, *President and CEO
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/3b1dca56-bccc-40ec-942c-7497a436144b Reported by GlobeNewswire 13 hours ago.
HOUSTON, Nov. 14, 2018 (GLOBE NEWSWIRE) -- Orion Group Holdings, Inc. (NYSE: ORN) (the "Company") a leading specialty construction company, today announced a contract award of approximately $13 million.The Company’s Marine segment was recently awarded a contract from the Port of Corpus Christi Authority. The contract calls for Orion to provide dredging services in the La Quinta Channel area of the Port and construct improvements to the local Dredging Material Placement Area (DMPA) to accommodate the material. The project is expected to begin late in the fourth quarter 2018 with a duration of approximately ten (10) months.
“Orion presented a Value Engineering Proposal that will reduce risk while maintaining the integrity of the project schedule. Our team at the Port of Corpus Christi eagerly looks forward to this next step in what has been a meticulously planned out process,” said Sean Strawbridge, Chief Executive Officer for the Port of Corpus Christi.
“As the fourth largest port in the United States and the leading export location of US crude oil, the Port of Corpus Christi is a strategic customer for Orion,” said Mark Stauffer, Orion President and CEO. “This is our second major contract awarded from the Port this year and we look forward to maintaining a strong position in the area as it continues to grow in importance to our nation’s economy.”
*About Orion Group Holdings*
Orion Group Holdings, Inc., a leading specialty construction company, provides services both on and off the water in the continental United States, Alaska, Canada and the Caribbean Basin through its heavy civil marine construction segment and its commercial concrete segment. The Company’s heavy civil marine construction segment services includes marine transportation facility construction, marine pipeline construction, marine environmental structures, dredging of waterways, channels and ports, environmental dredging, design, and specialty services. Its commercial concrete segment provides turnkey concrete construction services including pour and finish, dirt work, layout, forming, rebar, and mesh across the light commercial, structural and other associated business areas. The Company is headquartered in Houston, Texas with regional offices throughout its operating areas.
The matters discussed in this press release may constitute or include projections or other forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, the provisions of which the Company is availing itself. Certain forward-looking statements can be identified by the use of forward-looking terminology, such as 'believes', 'expects', 'may', 'will', 'could', 'should', 'seeks', 'approximately', 'intends', 'plans', 'estimates', or 'anticipates', or the negative thereof or other comparable terminology, or by discussions of strategy, plans, objectives, intentions, estimates, forecasts, outlook, assumptions, or goals. In particular, statements regarding future operations or results, including those set forth in this press release and any other statement, express or implied, concerning future operating results or the future generation of or ability to generate revenues, income, net income, profit, EBITDA, EBITDA margin, or cash flow, including to service debt, and including any estimates, forecasts or assumptions regarding future revenues or revenue growth, are forward-looking statements. Forward looking statements also include estimated project start date, anticipated revenues, and contract options which may or may not be awarded in the future. Forward looking statements involve risks, including those associated with the Company's fixed price contracts that impacts profits, unforeseen productivity delays that may alter the final profitability of the contract, cancellation of the contract by the customer for unforeseen reasons, delays or decreases in funding by the customer, levels and predictability of government funding or other governmental budgetary constraints and any potential contract options which may or may not be awarded in the future, and are the sole discretion of award by the customer. Past performance is not necessarily an indicator of future results. In light of these and other uncertainties, the inclusion of forward-looking statements in this press release should not be regarded as a representation by the Company that the Company's plans, estimates, forecasts, goals, intentions, or objectives will be achieved or realized. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company assumes no obligation to update information contained in this press release whether as a result of new developments or otherwise.
Please refer to the Company’s Annual Report on Form 10-K, filed on March 13, 2018, which is available on its website at www.oriongroupholdingsinc.com or at the SEC’s website at www.sec.gov, for additional and more detailed discussion of risk factors that could cause actual results to differ materially from our current expectations, estimates or forecasts.
Orion Group Holdings Inc.
Shane Martin, Investor Relations Manager (972) 850-2001 Reported by GlobeNewswire 12 hours ago.
Reported by RIA Nov. 11 hours ago.
VICTORIA, British Columbia, Nov. 14, 2018 (GLOBE NEWSWIRE) -- Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) today reported its third quarter financial results for the period ended September 30, 2018. Currency amounts are in U.S. dollars unless otherwise noted and are for Carmanah’s continuing operations which exclude the operating results from the Company’s Power Division segment which was divested by way of two separate transactions in 2017.In the third quarter of 2018, Carmanah generated overall revenues of USD $12.9 million, down USD $1.6 million or 11.3% over the third quarter of 2017 revenues of USD $14.5 million. Of overall revenues, the Company’s Signals segment declined USD $2.1 million or 15.1% in the quarter while the Company’s Illumination segment increased by USD $0.5 million or 68.3% on a comparative basis.
The third quarter 2018 Signals segment revenue varied as follows:
· The Company’s Germany based Sabik Offshore division incurred a decrease in revenues primarily due to offshore wind project delays in Europe. Some projects previously expected to complete in 2018 are now slated for 2019.
· The Company’s Finland based Sabik Marine division also incurred a decline in revenues despite very strong order activity. We currently have an exceptionally high backlog of orders to be fulfilled in the fourth quarter and beyond. As well, Sabik Marine is still experiencing less than optimal production of Vega products, which are now being produced in Europe. It is expected that order backlogs will return to normal levels during the first quarter of 2019.
· Traffic division revenues were largely unchanged in the third quarter of 2018 as compared to the prior period. On a sequential basis, our Traffic revenues continued to rebound following the resumption of Rectangular Rapid Flashing Beacon (“RRFB”) approvals by the Federal Highways Administration earlier this year.
· Airfield Lighting and Aviation Obstruction revenues were largely unchanged in the third quarter compared to the prior period; however, both businesses had higher levels of orders in the quarter leading to a higher than normal backlog at period end.
· Carmanah’s Telematics division continued to experience growth in both orders and revenues during the third quarter with a growing backlog that is expected to normalize by year end.
Gross margins in the third quarter of 2018 were 41.4%, up from 37.4% in the same period in 2017. Gross margins in the third quarter of 2017 were reduced by a USD $0.8 million inventory write-down in our Illumination segment as legacy products were made obsolete by the development of the new EverGen product offering.
Core operating expenditures in the third quarter of 2018 were USD $4.9 million, up from USD $4.6 million in the third quarter of 2017. The increase was due to increased amortization relating to acquired assets as well as increased research and development costs.
Net loss in the third quarter of 2018 was USD $0.6 million which was down from net income of $0.3 million for the same period in 2017.
Carmanah management relies on Adjusted EBITDA^1 (a non-IFRS measure) to gauge financial performance. In the third quarter of 2018, the Company generated Adjusted EBITDA of USD $1.5 million, down 40.7% from USD $2.4 million in the same period in 2017. A table reconciling net income and Adjusted EBITDA is included in this release.
“Our third quarter was a mix of disappointment and encouragement”, said John Simmons, CEO. “We are disappointed that some of the offshore wind projects in which we expect to participate are being delayed into the future, but we look forward to serving these customers as their projects come online. At the same time, we are encouraged by the remainder of our Signals segment’s new order flow in the quarter which resulted in significant backlog growth and sets us up for a good final quarter in 2018.”
Highlights for the quarter are provided below:
Three months ended September 30, Nine months ended September 30,
(US$ thousands) 2018 2017 2018 2017
Revenue 12,862 14,508 41,607 37,836
Gross margin % 41.4% 37.4% 42.3% 41.3%
Core operating expenditures 4,907 4,572 15,694 12,890
Net (loss)/income (625) 318 (167) 1,436
Adjusted EBITDA^1 1,448 2,440 4,960 5,862
*Financial Condition at September 30, 2018 compared to December 31, 2017 *
· Cash and cash equivalents of USD $12.5 million, up USD $0.7 million from USD $11.8 million.
· Working capital of USD $22.9 million, up USD $1.7 million from USD $21.2 million
*Complete set of Financial Statements and Management Discussion & Analysis*
A complete set of the third quarter ended September 30, 2018 Financial Statements and Management’s Discussion & Analysis are available on Carmanah's corporate website. To view these documents, visit: https://carmanah.com/company/financial-reports. Both documents are also filed on SEDAR (www.sedar.com). The financial information included in this release is qualified in its entirety and should be read together with the audited consolidated financial statements for the year ended December 31, 2017, including the notes thereto.
*EBITDA and **Adjusted EBITDA^1*
EBITDA reconciliations Three months ended September 30, Nine months ended September 30,
(US$ in thousands) 2018 2017 2018 2017
Net income/(loss) (625 ) 318 (167 ) 1,436
Interest 14 (24 ) 116 57
Income taxes 102 139 665 538
Amortization 777 447 2,399 1,239
Non-cash stock-based compensation 81 158 302 497
*EBITDA ^* *349* *1,038* *3,315* *3,767*
Merger and acquisition costs 1,067 207 1,500 330
Restructuring recoveries (12 ) - (85 ) -
Extraordinary legal costs 2 304 66 321
Asset write-down - 832 - 832
Other non-recurring expenses/(recoveries) 40 84 (14 ) 574
Foreign exchange (gain)/loss 2 (25 ) 178 38
*Adjusted EBITDA* *1,448* *2,440* *4,960* *5,862*
*About Carmanah Technologies Corporation*
Carmanah designs, develops and distributes a portfolio of products focused on energy optimized LED solutions for infrastructure. Since 1996, we have earned a global reputation for delivering durable, dependable, efficient and cost-effective solutions for industrial applications that perform in some of the world’s harshest environments. We manage our business within two reportable segments: Signals and Illumination. The Signals segment serves the Airfield Ground Lighting, Aviation Obstruction, Offshore Wind, Marine, Traffic and Telematics markets. The Illumination segment provides solar powered LED outdoor lights for municipal and commercial customers.
Carmanah Technologies Corporation:
Evan Brown, (250) 380-0052
Chief Financial Officer/Corporate Secretary
This release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “expects,” “estimates,” “could,” “will” or variations of such words and phrases. Forward-looking statements or information in this news release relate to, among other things: revenues, and revenue growth, for the fourth quarter and year ended December 31, 2017; order backlogs; gross margins and estimates of EBITDA and Adjusted EBITDA. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Carmanah or Sabik to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Such factors include, but are not limited to: our ability to become a worldwide leader in the marine aids to navigation industry, the potential growth of the off-shore wind safety market or our ability to participate in any growth and other general uncertainties that may impact actual outcomes. These forward-looking statements are based on management’s current expectations and beliefs but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. Carmanah disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.
For additional information on these risks and uncertainties, see Carmanah’s most recently filed Annual Information Form (AIF) and Annual MD&A, which are available on SEDAR at www.sedar.com and on the Company’s website at www.carmanah.com. The risk factors identified in Carmanah’s AIF and MD&A are not intended to represent a complete list of factors that could affect Carmanah.
^1 NON-GAAP FINANCIAL MEASURES: EBITDA and Adjusted EBITDA. This news release presents information about EBITDA and Adjusted EBITDA, both of which are non-IFRS financial measures, to provide supplementary information about 2017 operating performance. Carmanah defines EBITDA as net income or loss before interest, income taxes, amortization, and non-cash stock based compensation. Adjusted EBITDA removes unusual or non-operating items from EBITDA, such merger and acquisition costs, restructuring charges, asset write offs, and foreign exchange gains and losses. Carmanah uses these non-IFRS measures internally to make strategic decisions, forecast future results and evaluate its performance. EBITDA and Adjusted EBITDA are not intended as a substitute for IFRS measures. A limitation of utilizing these non-IFRS measures is that the IFRS accounting effects of the non-recurring items do in fact reflect the underlying financial results of Carmanah’s business and these effects should not be ignored in evaluating and analyzing Carmanah’s financial results. Therefore, management believes that Carmanah’s IFRS measures of net loss and the same respective non-IFRS measure should be considered together. Non-IFRS measures do not have any standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Readers should refer to the “Definitions and Reconciliations” section of the Company’s most recently filed MD&A for the three and twelve months ended December 31, 2017 for a more detailed discussion of these measures and their calculation. Reported by GlobeNewswire 10 hours ago.
Haaziq Kazi, disturbed by the damage we have done to marine life, has designed a solution to save the oceans.
Reported by Rediff.com 5 hours ago.
In the third quarter and 9 months of 2018, the volumes of cargo handled and the number of passengers served by AS Tallinna Sadam (hereafter: “the Group”) increased as did the Group’s revenue and adjusted EBITDA. Revenue amounted to EUR 38.9 million in the third quarter and EUR 101.1 million in the 9 months in total. The adjusted EBITDA increased 40% to EUR 24.0 million in the third quarter, the profit increased by EUR 6.6 million year-on-year.
The results of the third quarter were mainly driven by the following:
· Substantial increase of the liquid bulk volumes and revenue
· In the ferry segment an additional ferry in the summer period on Saaremaa line
· Additional revenue from the M/V Botnica ice management and escort service chartering agreement starting from the end of June.
*Key figures (in million EUR):*
*Q3* *Q3* *+/-* *9 months* *9 months* *+/-*
*2018* *2017* *2018* *2017*
Revenue 38.9 32.7 19.0% 101.1 94.2 7.3%
Adjusted EBITDA 24.0 17.2 39.7% 59.7 53.7 11.2%
Adjusted EBITDA margin 61.7% 52.6% 9.1 59.1% 57.0% 2.1
Operating profit 18.1 11.8 54.0% 43.1 38.7 11.2%
Income tax - -26.3 -12.0 118.8%
Profit for the period 18.1 11.4 57.9% 15.8 25.4 -37.8%
Investments 2.9 4.9 -40.6% 8.1 29.5 -72.4%
*30.09.2018* *31.12.2017* *+/-*
Total assets 647.1 597.1 8.4%
Interest bearing debt 225.4 235.6 -4.3%
Other liabilities 62.6 35.7 75.4%
Equity 359.1 325.8 10.2%
Number of shares 263.0 185.2 42.0%
In the third quarter, revenue grew by EUR 6.2 million, i.e. 19%, generating most of the revenue growth in 9 months, which grew by EUR 6.9 million, i.e. 7% year-on-year, to EUR 101.1 million. In the third quarter there was revenue growth in all business segments, of which the most in the segment “other” (by EUR 2.9 million, i.e. 70% y-o-y) due to start of the summer season and began providing escort and ice management services in northern Canada from the end of June.
In the ferry segment the revenue grew in the third quarter by EUR 2.5 million, i.e. 13% year-on-year, mainly due to additional trips and the ferry put on the route for the high-season in summer.
In the cargo harbours’ segment, the revenue increased, mainly due to significant growth in the volume of liquid bulk cargo in the third quarter, increasing the segment’s 9-month revenue by EUR 1.5 million, i.e. 16%.
In the passenger harbours’ segment the increase of revenue was caused by the growth in passenger numbers, which was mainly supported by the increase of cruise revenue.
In the third quarter, the adjusted EBITDA amounted to EUR 24 million, growing by EUR 6.8 million i.e. 40% year-on-year. In 9 months the adjusted EBITDA grew by EUR 6 million and totaled up to EUR 59.7 million. Based on the segments, the 9-months adjusted EBITDA increased in the ferry segment and the segment ‘other’ and decreased in the passenger harbours segment and cargo harbours segment. Adjusted EBITDA for the third quarter improved in all segments; growth was the strongest in the ferry segment and the segment ‘other’. The adjusted EBITDA margin for the first 9 months rose expectedly from 26.6% to 43.2% in the ferry segment, from 43.8% to 60.8% in the segment ‘other’ and decreased slightly in other segments, which resulted a rise in the Group’s overall margin from 57.0% to 59.1%.
Net profit returned to growth in the third quarter due to the revenue increase, growing by EUR 6.6 million, or 58% year-on-year, amounting to EUR 18.1 million. In connection with the declaration of a record dividend of EUR 105 million in the second quarter of 2018 compared with EUR 48 million in 2017, income tax expense increased by EUR 14.3 million to EUR 26.3 million, which resulted in a profit of EUR 15.8 million for the 9 months, showing a decrease of EUR 9.6 million compared to the profit earned in the comparative period. According to the management estimates, the Group shall achieve the profit target set for the 2018 and there will be no deviations from the dividend policy.
Investments made in the third quarter totaled EUR 2.9 million, in 9 months the Group made investments of EUR 8.1 million. In the 9 months of 2017, the investments totaled EUR 29.5 million of which around EUR 20 million was related to the construction of new ferries. In the 9 months of 2018, the largest investments were made in the reconstruction of traffic areas and the implementation of automated traffic control systems at the Old City Harbour (Smart Port), the dry docking of M/V Botnica which is carried out every five years and the start of terminal D reconstruction works.
*Interim condensed consolidated statement of financial position:*
In thousands of euros 30 September 2018 31 December 2017
Cash and cash equivalents 62,211 6,954
Trade and other receivables 8,892 9,271
Contract assets 723
Inventories 322 301
Total current assets 72,148 16,526
Investments in associates 1,587 1,256
Other long-term receivables 235 272
Property, plant and equipment 571,064 577,125
Intangible assets 2,018 1,958
Total non-current assets 574,904 580,611
Total assets 647,052 597,137
Loans and borrowings 18,166 21,989
Derivative financial instruments 417 609
Payables to owners 20,000
Provisions 1,358 1,503
Government grants 326 303
Taxes payable 1,512 698
Trade and other payables 12,343 7,777
Contract liabilities 2,130 33
Total current liabilities 56,252 32,912
Loans and borrowings 207,228 213,611
Government grants 23,468 23,826
Other payables 73 64
Contract liabilities 950 932
Total non-current liabilities 231,719 238,433
Total liabilities 287,971 271,345
Share capital at par value 263,000 185,203
Share premium 44,477
Statutory capital reserve 18,520 18,520
Hedge reserve -417 -609
Retained earnings 33,501 122,678
Total equity 359,081 325,792
Total liabilities and equity 647,052 597,137
*Interim condensed consolidated statement of profit or loss:*
In thousands of euros Q3 2018 Q3 2017 9 months 2018 9 months 2017
Revenue 38,897 32,694 101,063 94,206
Other income 215 441 659 4,576
Operating expenses -10,426 -11,582 -28,013 -31,692
Personnel expenses -4,941 -4,455 -13,912 -12,994
Depreciation, amortisation and impairment -5,567 -5,307 -16,516 -15,033
Other expenses -65 -33 -217 -323
Operating profit 18,113 11,758 43,064 38,740
Finance income and costs
Finance income 5 5 13 23
Finance costs -501 -611 -1,539 -1,699
Finance costs - net -496 -606 -1,526 -1,676
Share of profit of an associate accounted for under the equity method 461 296 535 372
Profit before income tax 18,078 11,448 42,073 37,436
Income tax -26,250 -12,000
Profit for the period 18,078 11,448 15,823 25,436
Attributable to owners of the Parent 18,078 11,448 15,823 25,436
Basic and diluted earnings per share (in euros) 0.07 0.06 0.07 0.14
Basic and diluted earnings per share - continuing operations (in euros) 0.07 0.06 0.07 0.14
*Interim condensed consolidated statement of cash flows:*
In thousands of euros 9 months 2018 9 months 2017
Cash receipts from sale of goods and services 108,685 101,438
Cash receipts related to other income 62 436
Payments to suppliers -33,466 -35,849
Payments to and on behalf of employees -12,364 -11,460
Payments for other expenses -293 -711
Income tax paid on dividends -21,405 -8,657
Cash from operating activities 41,219 45,197
Purchases of property, plant and equipment -8,388 -19,887
Purchases of intangible assets -509 -524
Proceeds from sale of property, plant and equipment 6 500
Government grants received 349
Dividends received 178
Interest received 3 14
Cash used in investing activities -8,888 -19,370
Contributions to share capital 119,882
Redemption of debt securities -1,250 -1,250
Repayments of loans received -6,383 -6,383
Change in overdraft (liability) -2,566
Repayments of finance lease principal -7 -2
Dividends paid -85,000
Interest paid -1,704 -2,004
Other payments related to financing activities -46
Cash from/used in financing activities 22,926 -9,639
NET CASH FLOW 55,257 16,188
Cash and cash equivalents at beginning of the period 6,954 49,918
Change in cash and cash equivalents 55,257 16,188
Cash and cash equivalents at end of the period 62,211 66,106
Tallinna Sadam is one of the largest cargo- and passenger port complexes in the Baltic Sea region, which in 2017 serviced 10.6 million passengers and 19.2 million tons of cargo. In addition to passenger and freight services, Tallinna Sadam group also operates in shipping business via its subsidiaries – OÜ TS Laevad provides ferry services between the Estonian mainland and the largest islands, and OÜ TS Shipping charters its multifunctional vessel m/v Botnica for icebreaking and construction services in Estonia and offshore projects abroad. Tallinna Sadam group is also a shareholder of an associate AS Green Marine, which provides waste management services. Tallinna Sadam group's sales in 2017 totaled EUR 121.3 million, adjusted EBITDA EUR 66.5 million and net profit EUR 26.4 million.
CFO, Member of the Management Board
Head of Investor Relations
AS Tallinna Sadam
· Tallinna Sadam Q3 2018 ENG Reported by GlobeNewswire 3 hours ago.
Stock Exchange Notice
Date: 15 November 2018
*GC Rieber Shipping: Shearwater GeoServices completes acquisition of Schlumberger marine seismic acquisition business*
Shearwater GeoServices Holding AS today announced the completion of the acquisition of the marine seismic acquisition assets and operations of WesternGeco, the geophysical services product line of Schlumberger. The transaction was completed following receipt of relevant regulatory approvals and satisfaction of customary closing conditions.
The acquisition and related transactions were executed in accordance with the 22 August 2018 announcement. Following the completion, Shearwater has three strong and competent owners with RASMUSSENGRUPPEN AS holding 65%*,* GC Rieber Shipping ASA 20% and Schlumberger 15%.
The transaction makes Shearwater a global, customer-focused and technology-driven provider of marine geophysical services, which owns and operates a fleet of 14 fully equipped seismic vessels offering a full range of acquisition services including 3D, 4D and ocean bottom seismic. The company also holds a portfolio of proprietary streamer technology and processing software enabling effective execution of geophysical surveys and delivery of high-quality data. Shearwater has close to 600 employees and operates in all major offshore basins around the world.
"Shearwater has become a leading global marine seismic services provider with a strong financial platform able to deliver exceptional customer solutions", says Einar Ytredal, the CEO of GC Rieber Shipping. "We are pleased to have been instrumental in developing yet another market leading company at the same time as we create value for our shareholders."
The total cash funding requirement for the transaction was USD 650 million, which was funded by USD 325 million in new cash equity from existing owners and USD 325 million of debt financing. GC Rieber Shipping subscribed for USD 28.5 million of new equity in Shearwater in connection with the acquisition and has entered into a short-term shareholder loan at market terms with GC Rieber AS, GC Rieber Shipping`s largest shareholder, to facilitate settlement. The shareholder loan will be refinanced by the fully underwritten rights issue announced 6 November 2018.
The USD 7.5 million cash deposit provided by GC Rieber Shipping when establishing Shearwater in 2016 has been released following the transaction and will no longer be classified as restricted cash.
A separate press release from Shearwater is enclosed.
*For further information, please contact:
*Einar Ytredal, CEO, phone: +47 975 20 184
*About GC Rieber Shipping:
*GC Rieber Shipping's business within offshore/shipping includes ownership in specialized vessels, high quality marine ship management and project development within the segments subsea, ice/support and marine seismic. The group has a specialized competence in offshore operations in harsh environments as well as design, development and maritime operation of offshore vessels.
GC Rieber Shipping currently operates 11 and has direct and indirect ownership in 23 advanced special purpose vessels for defined markets within the subsea, ice/support and marine seismic segments.The company has its headquarter and a ship management office in Bergen, and an additional ship management company in Yuzhno-Sakhalinsk (Russia). The company is listed on Oslo Børs with ticker RISH.
Further information is available on the company's website www.gcrieber-shipping.com.
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.
· Press Release Shearwater.pdf Reported by GlobeNewswire 3 hours ago.
November 15, 2018; Oslo, Norway: PGS has as part of a tender process offered to sell the Ramform Sterling to the Japan Oil, Gas and Metals National Corporation ("JOGMEC") an incorporated administrative agency of Ministry of Economy Trade and Industry.
PGS has now been informed that the Company is the preferred tenderer, and negotiations will be initiated with the aim of concluding necessary contracts. A final award to PGS will only take place if and when all contracts have been concluded. PGS anticipates that this will happen during the first quarter of 2019.
The tender process also includes up to 10 year service agreement with annual renewals. For this part of the tender PGS has formed a joint venture with Nippon Yusen Kabushiki Kaisha ("NYK") and Hitachi, Ltd ("Hitachi"). The joint venture will establish a Special Purpose Company ("SPC") which will aim to conclude final contracts with JOGMEC. NYK will be responsible for vessel operation, Hitachi for data processing and PGS will provide technical and operational services, support and training.
The vessel sale excludes the seismic streamer package. SPC will conclude a separate lease contract with PGS on behalf of JOGMEC. Subject to final agreements, JOGMEC is scheduled to take delivery of Ramform Sterling at the start of the second quarter of 2019.
PGS intends to maintain the same operated fleet size in 2019 as the Company currently has. If the Ramform Sterling is sold to JOGMEC, PGS will reintroduce the Ramform Vanguard from the summer of 2019. CAPEX to reintroduce the vessel primarily relates to in sea equipment and is estimated not to exceed USD 25 million. If concluded, the sale of Ramform Sterling is not expected to result in any material gain in the financial statements.
*For details, contact:*
Bård Stenberg, SVP IR & Communication
Mobile: +47 992 45 235
Petroleum Geo-Services ASA and it's subsidiaries ("PGS" or the "Company") is a focused marine geophysical company that provides a broad range of seismic and reservoir services, including acquisition, imaging, interpretation, and field evaluation. The Company MultiClient data library is among the largest in the seismic industry, with modern 3D coverage in all significant offshore hydrocarbon provinces of the world. The Company operates on a worldwide basis with headquarters in Oslo, Norway and the PGS share is listed on the Oslo stock exchange (OSE: PGS). For more information on Petroleum Geo-Services visit www.pgs.com.
The information included herein contains certain forward-looking statements that address activities, events or developments that the Company expects, projects, believes or anticipates will or may occur in the future. These statements are based on various assumptions made by the Company, which are beyond its control and are subject to certain additional risks and uncertainties. The Company is subject to a large number of risk factors including but not limited to the demand for seismic services, the demand for data from our multi-client data library, the attractiveness of our technology, unpredictable changes in governmental regulations affecting our markets and extreme weather conditions. For a further description of other relevant risk factors we refer to our Annual Report for 2017. As a result of these and other risk factors, actual events and our actual results may differ materially from those indicated in or implied by such forward-looking statements. The reservation is also made that inaccuracies or mistakes may occur in the information given above about current status of the Company or its business. Any reliance on the information above is at the risk of the reader, and PGS disclaims any and all liability in this respect.This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act. Reported by GlobeNewswire 3 hours ago.
Innovative New Product Incorporates PIAM Building Cost Calculator and
Offers up to 30% Premium Discount To Customers
KUALA LUMPUR, MALAYSIA - Media OutReach - 15 November 2018 - MSIG Insurance (Malaysia) Bhd (MSIG Malaysia) has launched *Home SafeGuard*, a new home protection policy.
As the 2^nd largest Fire Insurer* in Malaysia, MSIG's Home SafeGuard is a home insurance product that encourages the use of Persatuan Insurans Am Malaysia's (PIAM's) online Building Cost Calculator (BCC) tool. Homeowners can obtain an estimated rebuilding cost for their property based on the current market rates for labour and materials. PIAM has engaged a Professional Quantity surveying company to provide credible building cost index data into the BCC on an annual basis.
Previously, homeowners could only obtain a rebuilding estimate through a Registered Valuer and, as a result, many homeowners did not regularly update their property's 'insured value' as engaging a Registered Valuer can be both costly and/or time consuming. This is a problem because the costs of rebuilding may rise every year due to increased cost of building materials and labour charges. As a result, some homeowners, when struck by misfortune, could find that their home insurance pay-out would not adequately cover the increased costs, particularly if enhancements and renovations had been made to the property. [DEL: :DEL]
By using the PIAM's BCC tool to value their own properties, MSIG hopes to simplify the renewal task, making it much easier for customers to review their property sum insured and thereby having certainty of adequacy and avoid underinsurance especially when a home is usually the single biggest investment for most Malaysians.
To encourage consumers to use PIAM's BCC tool, MSIG is providing *Home SafeGuard* customers a significant up to 30% discount on their premiums, as well as other new benefits.
· *Constructive Total Loss*
If the cost of rebuilding exceeds 75% of the sum insured (Agreed Value) in the event of a loss, MSIG will pay the full agreed amount, even if the full rebuilding cost is not 100% of the sum insured.
· *Enhanced Coverage For Bursting or Overflowing of Water Tanks, Apparatus or Pipes*
MSIG's *Home SafeGuard* includes additional coverage (up to RM5,000) in the event of an incident caused by burst water pipes, damaged water tanks. Standard home owner insurance only covers the resulting damage (i.e. replacement of damaged cabinets, etc.), but *Home Safeguard* will also cover the complete cost of repair, including the cost of any wall hacking, replastering, and painting required.
· *Automatic Increase in Sum Insured of Contents (applicable to Full Value Basis)*
Purchasers of *Home SafeGuard* also have the option to insure their home contents at the same time. If customers opt to add-on home contents insurance, MSIG will automatically increase the value of the contents sum insured by 10% during the period of insurance. Everyone tends to purchase new items throughout the year and may forget to declare these items to the insurer, but with *Home SafeGuard*, customers are still covered additionally up to 10% of the sum insured. However, MSIG does advise that customers still report any purchases that may exceed the 10% value in order to avoid underinsurance.
· *MSIG Home Assist*
Home SafeGuard policyholders will also be able to use the MSIG Home Assist app which provides customers with our value-added services including referrals to qualified contractors as well as easy claims submission and tracking.
Mr Chua Seck Guan, MSIG Malaysia Chief Executive Officer explains why MSIG introduced *Home SafeGuard*, "A fire or a flood can be really devastating for homeowners, and sadly many are under-protected. Even those who have had the foresight to take out insurance can discover that their insurance pay-out does not adequately cover the rebuilding cost, especially if they do not review the sum insured of their house. That is why we are delighted that PIAM developed the Building Cost Calculator tool which makes it much easier for home owners to calculate the current rebuilding cost for their homes. Our *Home SafeGuard* insurance leverages on PIAM's tool capabilities and we are offering up to 30% premium discount in order to encourage home owners to use it and ensure they are properly covered in the event of misfortune."
"We want to educate consumers about the importance of regularly reviewing their home insurance and the sum insured, which is why we developed the Building Cost Calculator to make it much easier for people to get a realistic idea of the current cost of rebuilding their homes. And we are delighted that MSIG Malaysia has decided to promote the usage of the tool in their new product", said Mr Mark Lim, Chief Executive Officer of PIAM.
Mr Chua, concluded, "MSIG is one of the largest fire insurers in the country and we have been protecting Malaysians for over 100 years. We are very happy that the insurance detariffication, which took place last year, has allowed us to develop new innovative products such as *Home SafeGuard*, which we believe offers Malaysians even more choice and peace of mind than ever before."
If you are interested in learning more about MSIG's *Home SafeGuard* Insurance, please contact a MSIG Insurance Adviser or visit MSIG website at www.msig.com.my for further details.
Click here to watch MSIG *Home SafeGuard* video: https://www.youtube.com/watch?v=fnxYTHTDzxg
*About MSIG Insurance (Malaysia) Bhd*
MSIG Insurance (Malaysia) Bhd ("MSIG Malaysia") is a subsidiary of Mitsui Sumitomo Insurance Company, Limited and a member of MS&AD Insurance Group Holding, Inc. (MS&AD), one of the top ten** general insurers in the world.
With over 100 years of general insurance experience and a nationwide network of 20 branches in Malaysia, MSIG Malaysia is one the leading general insurers in Fire, Engineering and Motor classes and No.1 in Marine Cargo, offering extensive range of products and services for personal and business needs.
In 2015, MSIG Malaysia was recognised as the "General Insurance Company of the Year" at the Asia Insurance Industry Awards for efforts in advancing customer experience and industry leadership in Enterprise Risk Management.
For more information on MSIG Malaysia, visit www.msig.com.my or facebook.com/MSIGMalaysia.
*As of Dec 2017
**Fortune Global 500, 2017. Reported by Media OutReach 3 hours ago.