OOIL Swings Back to Profit in H1

first_imgzoomImage Courtesy: OOCL Orient Overseas (International) Limited (OOIL), a parent company of Hong Kong-based container shipping company Orient Overseas Container Line Limited (OOCL), managed to return to profit in the first half of 2019.OOIL closed the first six months of this year with a profit of almost USD 139 million, compared to a loss of USD 10.3 million posted in the corresponding period a year earlier.The group revenue rose to USD 3.3 billion in H1 2019 from USD 3.1 billion seen in H1 2018.As explained, the improvement came despite an economic environment filled with uncertainties and seemingly slowing growth in terms of demand for container shipping services.Compared to the first half of 2018, OOCL liner liftings increased by 3.2% and revenue levels went up by 6.5%. Market growth did slow down in some trade lanes, but in many cases, this slow down in volume growth was outpaced by an improvement in the freight rates, the company said.In addition, the average bunker costs recorded by OOCL in the first half of 2019 were USD 441 per ton compared with USD 403 per ton for the corresponding period in 2018. The rise in both the fuel oil and diesel oil price has resulted in an increase of bunker costs by 3% in the first half of 2019 compared with the corresponding period last year.In the first half of 2019, the company didn’t take delivery of any newbuild vessels and didn’t place any new orders. As World Maritime News reported in January, OOCL said it had no plans to order new ships despite the rumored 23,000 TEU order. Currently, the six 21,413 TEU G-class vessels delivered in 2017 and 2018 are among the largest containerships in OOCL’s fleet.In April 2019, OOIL inked an agreement to sell the Long Beach Container Terminal to a consortium led by Macquarie Infrastructure Partners. The deal included OOIL signing a 20-year container stevedoring and terminal services contract. The terminal divestment is being pursued by China’s COSCO Shipping Holdings as part of its USD 6.3 billion takeover of OOIL.“We edge closer to the conclusion of the sale of our container terminal in Long Beach, California. The transaction announced by us on 29th April 2019 not only generates meaningful cash proceeds now, but also ensures that OOCL will continue to have access to a highly automated and efficient terminal that meets our needs,” OOIL disclosed in the financial statement. “Since last July, we have implemented “Dual Brand” strategy for achieving synergy benefits and improving service quality.  It is pleasing to note that our efforts to generate significant synergy savings through co-operation within the COSCO Shipping Holdings … group are bearing fruit… We have also achieved significant synergy benefits through network planning, equipment pooling, procurement and IT.”last_img read more

Alan Thicke 1947 – 2016

first_img Twitter There were no airs about Thicke, who was always approachable and friendly, especially when you made the Canadian connection. Login/Register With: You never want to hear about anyone dying at 69, and I can’t imagine the heartache his 19-year-old son Carter experienced watching his dad being stricken right before his eyes. There is something so Canadian, however, about Alan Thicke meeting his end on a Burbank, Ca., hockey rink.Thirty years ago, Alan Thicke was one of the biggest stars on network television. The Cosby Show had single-handedly resurrected the sitcom, and since imitation is the sincerest form of television, ABC was anxious to match the success of NBC with a similar, family-oriented comedy. Thicke was cast as family patriarch Jason Seaver on Growing Pains, a series that ran for seven seasons, from 1985 through 1992. The series wasn’t especially memorable or significant but it sure was popular, thanks mainly to Kirk Cameron who played the Seaver’s oldest son. He quickly became a teen sensation. (Future heartthrob Leonardo DiCaprio stole some of the glory in the series’ final season.)Thicke was never the Cosby of his own show, but it still made him rich and famous. He even cashed in on a couple of highly-rated follow-up TV-movies. I was working in LA for TV Guide Canada in the mid-’80s and as a young photo editor remember meeting him on the set of Growing Pains. Photographer Gene Trindl was posing Thicke and co-star Joanna Kerns. He was shooting them through a large round wreath Gene had made out of branches cut in his own back yard. Advertisement LEAVE A REPLY Cancel replyLog in to leave a comment Advertisement Facebook Advertisementlast_img read more


first_img Facebook Advertisement LEAVE A REPLY Cancel replyLog in to leave a comment They clearly hope that the 15-minute short is the beginning of something — although, as it completely unauthorized, this might be all fans get — but the one thing it accomplishes by itself is a bit of wish fulfilment. Noting a resemblance, plenty of fans have suggested that the Edmonton-born actor would make a great Drake ever since the first game came out in 2007, and this film makes a pretty good case.“I remember the feeling when I first saw Raiders of the Lost Ark. There was this hero that wasn’t perfect, that could take a punch and tell a joke. And I remember the Uncharted games bringing that back,” says Fillion, when asked why he wanted to make this. “And Nathan Drake is the one that scratches that itch for all of us.”Ungar, like many, he loved the franchise from when he was in school, and thought that Fillion belonged in the role. He started working on his own films, and after deriving some inspiration from previous video-game fan films also made by professionals that made splashes — Kevin Tancharoen’s Mortal Kombat: Rebirth in 2010, Joseph Kahn’s Power/Rangers in 2015 — Ungar approached the veteran TV star and there was mutual interest. The film was shot in May in California. Login/Register With: Consider it an unexpected treasure for fans of the Uncharted videogame franchise.A fan film based on that swashbuckling, tomb-raiding franchise was released online on Monday, starring Nathan Fillion as Nathan Drake, and directed by Allan Ungar, a filmmaker from Toronto. Advertisement Twitter Advertisement Both Ungar and Fillion stress that this is an unauthorized creation for fans, with no input or permission from Uncharted game developer Naughty Dog and its parent company, Sony. Nathan Fillion, left, is seen on the set of the Uncharted fan film with director Allan Ungar. (JERRY BUTEYN / SUPPLIED PHOTO)last_img read more