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first_imgzoom The shipping industry went through a number of changes in 2017, much for the better, but a cautious approach is still needed for 2018 to maintain the progress already achieved, BIMCO said.Economic growth has accelerated in Europe, Asia and the Americas since mid-2016, and the global GDP growth rate is now set to raise slightly in 2018 to reach 3.7%, up from 3.6% in 2017.In 2018, the dry bulk sector is likely to improve the fundamental market balance further, if operational speeds do not increase.For the container shipping sector, the improvement in 2017 will carry on into 2018, where fleet growth rate seems to match demand growth, and as a result no big freight rate changes are expected to lift earnings.For oil tankers, there is a potential upside in low fleet growth for both crude oil and oil product tankers. The growth in demand, coming from increased oil consumption and a return of more price arbitrage-driven trading activity, depends on a better-balanced oil market.Increasing slightly on gains made in 2017 – global GDP growth rates are forecast to stay around2018 levels, all the way into 2022, BIMCO said citing data from IMF.Nevertheless, the world trade volume growth rate is expected to drop from 4.2% in 2017 to 4.0% in 2018.“The shipping industry has adapted quite well to a lower level of demand growth over the past couple of years. The next challenge is to understand that this is as good as it gets, and to avoid wishful thinking that demand levels will increase significantly – as that will not happen, BIMCO informed.In its “Road to Recovery” market analysis, BIMCO highlighted that 2018 could become the first year since 2011, with the industry returning a profit, “but we shouldn’t be too hasty.”For 2018, the challenge is for dry bulk owners and operators to maintain slow steaming. BIMCO expects the supply-side to grow by around 1% in 2018, against 3.2% in 2017.The crude oil tanker market is set to see a net fleet growth of around 2% in 2018, down from 5.1% in 2017, while the supply side growth rate of the oil product tanker fleet is expected to be at around 1.8%, compared to 4.2% in 2017.The previous year saw some signs of imprevement in the container shipping market as freight rates went up and their volatility reduced. The segment is to see a net fleet growth of around 4.1% in 2018, up from 3.3% in 2017.last_img read more

first_imgOntario’s Progressive Conservative government says it has cut the province’s deficit by $500 million, bringing the figure down to $14.5 billion in its first few months in office.The change is announced in the government’s Fall Economic Statement for 2018-2019, its first major fiscal update since winning the spring election.“The fiscal hole is deep,” Finance Minister Vic Fedeli said in presenting the document to the legislature on Thursday afternoon. “The road ahead is not an easy one and will require difficult decisions. Everyone across the province will be required to make sacrifices, without exception.”The government said it has made progress on cutting the deficit by finding $3.2 billion in efficiencies in operations, including a hiring freeze across the public service.The belt-tightening measures laid out also include rolling the positions of three independent officers — the environmental commissioner, the child and youth advocate and the French language services commissioner — into the offices of the auditor general or the provincial ombudsman.Government staff could not say what will happen to those working in the eliminated offices, but Premier Doug Ford has consistently promised that no jobs would be lost as a result of his cost-cutting.Plans for a French-language university have also been cancelled, though the government could not immediately say how much money the move would save.Though it is spending less, the government said it is also taking in $2.7 billion less in revenue in the fiscal year — including $1.5 billion attributed to the cancellation of cap and trade.More than $300,000 in lost revenue is attributed to cancelling planned tax increases, including one that would have raised taxes for small businesses, the document says.The Tories had said the previous Liberal government left a $15 billion deficit, a figure disputed by critics, who said it includes spending promised by the Liberals but cancelled by the current regime.While the document mentions returning the province’s budget to balance, it does not spell out how long it will take to achieve that goal. “Our path forward is clear, and that is why it is important to maintain our resolve to pursue fiscal discipline and ultimately restore our books to balance,” Fedeli said.The fiscal update also promises to eliminate income tax for those earning less than $30,000 a year. The government says the tax cut offsets its decision to scrap a planned increase of the province’s minimum wage that was set to take effect next year.Critics, however, have said raising the minimum wage to $15 an hour as the Liberals had planned would give low-income workers more money than the income tax cut would save. An independent financial analysis came to a similar conclusion.The tax cut is expected to cost the province $495 million in lost revenue, the document says.The update also pledges to expand hours of operation at Beer Store and LCBO outlets across the province, allowing them to open seven days a week until 11 p.m.Shawn Jeffords and Paola Loriggio, The Canadian Presslast_img read more

first_imgNew Delhi: About 25 developing countries will be participating in a meeting to be held in the national capital from May 13-14 to discuss various issues related to the World Trade Organisation (WTO), an official said. The commerce ministry has already received approval from the Election Commission to hold this mini-ministerial meet. EC’s nod is necessary since the model code of conduct is in place. The meeting assumes significance as several countries are raising questions over the relevance of the Geneva-based global trade body. Also Read – Thermal coal import may surpass 200 MT this fiscalMany countries are also taking protectionist measures, impacting global trade. Member countries could deliberate upon issues such as reforming the WTO, the official said. Recently, the WTO cautioned that the global trade will continue to face strong headwinds this year and in 2020 after growing slower-than-expected in 2018 due to rising trade tensions and increased economic uncertainty. India has time and again stressed the importance and relevance of the WTO for promoting global trade. This will be the second mini-ministerial meet to be organised by India. In March last year, over 50 nations participated in a meeting here to explore options for resolving various issues and re-invigorating the WTO.last_img read more

Ohio State freshman JJ Wolf returns a volley against Purdue on April 9. Credit: Courtesy of OSU AthleticsTwo teams with 15-plus-game winning streaks faced off in a matchup that would give one program its first ever men’s tennis national title.In the battle between the two hottest teams in men’s tennis, it was the Demon Deacons who came out victorious on their home court, ending Ohio State’s 22-game win streak with a 4-2 win.The win came at the hands of freshman Bar Botzer, who completed Wake Forest’s first-ever NCAA title in tennis when freshman Tim Seibert hit the net on a return, losing the match in two sets (4-6, 5-7).Ohio State earned points from redshirt sophomore Kyle Seelig and junior Martin Joyce, with each winning on straight sets to give the Buckeyes a chance after falling in two doubles matches by a 7-5 score.Senior Mikael Torpegaard, Ohio State’s highest-ranked player, lost in his doubles match with freshman John McNally 7-5 against Botzer and junior Petros Chrysochos, Wake Forest’s highest-ranked player.Chrysochos defeated Ohio State sophomore J.J. Wolf in two sets (6-1, 6-3) to help the Demon Deacons earn two points in the match.The victory gave Wake Forest its 16th straight win, and redemption after losing to Ohio State 4-3 a season ago after Torpegaard defeated then-No. 1 Chrysochos in the final match. read more

first_imgRaheem Sterling has been heavily criticized by England fans after getting a tattoo of the gun on his leg but Kevin De Bruyne doesn’t understand why the fans are so rough on the player.The Belgium international is Sterling’s teammate at Manchester City and after hearing the wave of criticism towards him, he was really surprised by that – and he insisted that Sterling is a good guy and great player.De Bruyne spoke about Sterling’s character and qualities as he said, according to Sky Sports:Jadon Sancho, Borussia DortmundCrouch: Liverpool could beat Man United to Jadon Sancho Andrew Smyth – September 14, 2019 Peter Crouch wouldn’t be surprised to see Jadon Sancho end up at Liverpool one day instead of his long-term pursuers Manchester United.“Raheem is an unbelievable player. When he plays for England I don’t know what happens but there is always criticism about Raheem and I don’t know why.”“He’s a very good guy, he’s one of my guys and we’ve been together since day one. We have a good chemistry, we play well together and he’s only 23.”“I don’t know many guys that can show that capability of playing at that age in the Premier League.”last_img read more

first_imgEmre Can decided to leave Liverpool and sign with Juventus as a free agent but he insisted that his relationship with Jürgen Klopp has always been good and it wasn’t the reason for him to leave.The former Bayer Leverkusen and Bayern Munich holding midfielder spent four years at Anfield and he was, for the majority of this period, one of the key players for the German coach.The Germany international spoke about the relationship between him and his former coach as he said, according to Sports Mole:Roberto Firmino, LiverpoolVirgil van Dijk praises Roberto Firmino after Liverpool’s win Andrew Smyth – September 14, 2019 Virgil van Dijk hailed team-mate Roberto Firmino after coming off the bench to inspire Liverpool to a 3-1 comeback win against Newcastle United.“My relationship with Klopp was always good. He wished me all the best when I told him I was leaving. Not a lot of managers would let you play so many times when you are in the final year of your contract.”“But I always did my best. I always wanted to help the team. That is what he saw. That is why he kept faith with me.”last_img read more

first_imgAndrea Ranocchia has warned Inter Milan that they shouldn’t focus on their rivalry with Juventus if they want to be successful this season.Inter Milan is the team expected to push Juventus all the way this season as they’ve been described as ‘anti-Juve’. However, Ranocchia believes their season priority shouldn’t be only about beating Juventus.“Beating Juve is always beautiful, but our path must relate to every match in the League, Champions League and Coppa Italia” Ranocchia told Sky Sports Italia, via Football Italia.“You can’t go far with just a single match. We have to improve after our first few games and prepare ourselves for some important events.Mario Mandzukic, JuventusJuventus confirm Mario Mandzukic could leave this month Andrew Smyth – September 14, 2019 Sporting director Fabio Paratici confirmed reports that Mario Mandzukic could leave Juventus for a move to an unnamed Qatari team.“We can take a maximum of six points off Juve. We need more than that if we want to go far.“The Champions League is a return that I’ve been waiting to make for a long time. We’ve achieved a crucial objective for a project that must keep going for years to come.“I’m happy to be back in it. It’ll be nice to face some great teams, and we’ll go for everything with calmness.”last_img read more

first_imgArsenal midfielder Aaron Ramsey is reportedly close to signing a new long-term contract at the clubThe Wales international has less than 12 months remaining on his current deal at the Emirates Stadium.Ramsey’s uncertain future at Arsenal has allegedly attracted the interest of both Chelsea and Manchester United.Just last month, Ramsey’s contract talks with Arsenal had reportedly stalled due to the Welshman demanding £200,000 a week in wages.Cristiano Ronaldo, Nemanja Vidic, Manchester UnitedVidic: “Ronaldo is the most professional footballer I’ve seen” Andrew Smyth – September 14, 2019 Nemanja Vidic opened up on how a 21-year-old Cristiano Ronaldo’s professionalism left him stunned at Manchester United.But now Football London claims that there has been a breakthrough in discussions.Apparently, Ramsey is now close to agreeing on a new contract with the Gunners.After arriving from Cardiff City in 2008, Ramsey has managed 59 goals and 57 assists in 335 appearances for Arsenal in all competitions.last_img read more

first_imgHighlights from Comic-Con Day 2 from all around the Gaslamp District 00:00 00:00 spaceplay / pause qunload | stop ffullscreenshift + ←→slower / faster ↑↓volume mmute ←→seek  . seek to previous 12… 6 seek to 10%, 20% … 60% XColor SettingsAaAaAaAaTextBackgroundOpacity SettingsTextOpaqueSemi-TransparentBackgroundSemi-TransparentOpaqueTransparentFont SettingsSize||TypeSerif MonospaceSerifSans Serif MonospaceSans SerifCasualCursiveSmallCapsResetSave SettingsJust down the street from Dan, KUSI’s Mark Mathis was enjoying the evening and having fun with all of the attendees in costume. 00:00 00:00 spaceplay / pause qunload | stop ffullscreenshift + ←→slower / faster ↑↓volume mmute ←→seek  . seek to previous 12… 6 seek to 10%, 20% … 60% XColor SettingsAaAaAaAaTextBackgroundOpacity SettingsTextOpaqueSemi-TransparentBackgroundSemi-TransparentOpaqueTransparentFont SettingsSize||TypeSerif MonospaceSerifSans Serif MonospaceSans SerifCasualCursiveSmallCapsResetSave Settings 00:00 00:00 spaceplay / pause qunload | stop ffullscreenshift + ←→slower / faster ↑↓volume mmute ←→seek  . seek to previous 12… 6 seek to 10%, 20% … 60% XColor SettingsAaAaAaAaTextBackgroundOpacity SettingsTextOpaqueSemi-TransparentBackgroundSemi-TransparentOpaqueTransparentFont SettingsSize||TypeSerif MonospaceSerifSans Serif MonospaceSans SerifCasualCursiveSmallCapsResetSave SettingsFriday evening, KUSI’s Dan Plante spent some time in the Gaslamp District checking out the chaos and fun that Comic-Con brings to downtown San Diego. Dan’s live shots from the Gaslamp are below. SAN DIEGO (KUSI) – Friday is day two of Comic-Con and the cos-players are not slowing down. There’s tons of celebrities there, and some making surprise appearances.If you missed it, KUSI’s Allie Wagner has you covered. Updated: 5:33 PM 00:00 00:00 spaceplay / pause qunload | stop ffullscreenshift + ←→slower / faster ↑↓volume mmute ←→seek  . seek to previous 12… 6 seek to 10%, 20% … 60% XColor SettingsAaAaAaAaTextBackgroundOpacity SettingsTextOpaqueSemi-TransparentBackgroundSemi-TransparentOpaqueTransparentFont SettingsSize||TypeSerif MonospaceSerifSans Serif MonospaceSans SerifCasualCursiveSmallCapsResetSave Settings KUSI Newsroom, Allie Wagner, Dan Plante, Mark Mathis KUSI Newsroom, Allie Wagner, Dan Plante, Mark Mathis, July 19, 2019 00:00 00:00 spaceplay / pause qunload | stop ffullscreenshift + ←→slower / faster ↑↓volume mmute ←→seek  . seek to previous 12… 6 seek to 10%, 20% … 60% XColor SettingsAaAaAaAaTextBackgroundOpacity SettingsTextOpaqueSemi-TransparentBackgroundSemi-TransparentOpaqueTransparentFont SettingsSize||TypeSerif MonospaceSerifSans Serif MonospaceSans SerifCasualCursiveSmallCapsResetSave Settings Posted: July 19, 2019 Categories: Good Morning San Diego, Local San Diego News FacebookTwitterlast_img read more

first_imgUnderstanding why green wave breakdown occurs may improve the green wave synchronization strategy and improve traffic flow in urban areas. Citation: Physics of ‘green waves’ could make city traffic flow more smoothly (2013, May 22) retrieved 18 August 2019 from https://phys.org/news/2013-05-physics-green-city-traffic-smoothly.html Kerner’s paper, “The physics of green-wave breakdown in a city,” is published in a recent issue of EPL.Many large cities around the world, especially in Europe and the US, synchronize traffic lights on the busiest streets to create green waves. When a green wave works as intended, all vehicles within the wave can drive through a sequence of green traffic lights at a certain speed without having to stop at the signals. The timing of the lights can be controlled either by sensors or timers, and can be set up for traffic in one direction or both directions. Green waves have several benefits, such as allowing for higher traffic loads, reducing traffic jams, controlling traffic speed, reducing fuel consumption and emissions, and facilitating bicycle and pedestrian traffic.The biggest disadvantage of green waves is that, when the wave is disturbed, the disturbance can cause traffic problems that can be exacerbated by the synchronization. In such cases, the queue of vehicles in a green wave grows in size until it becomes too large and some of the vehicles cannot reach the green lights in time and must stop. This is called over-saturation. As more and more vehicles stop, the traffic can cause a gridlock where vehicles can’t move forward even when the light turns green because vehicles are backed up at the light ahead, which may still be red or turning green at the same time.The physics of this green wave breakdown has not been thoroughly studied until now. In his paper, Kerner used two kinds of models to investigate the underlying mechanisms. He identified several general features of green wave breakdown that are independent of the traffic flow model used, and also discovered that the physical characteristics of green wave breakdown depend crucially on which model is used. In one model, called a three-phase model, green wave breakdown occurs due to an initial speed disturbance (for example, a car turning onto the main road from a side street) that causes a moving synchronized flow pattern (MSP). In an MSP, vehicles move slower than in the initial free flow of green wave, causing delays that destroy the green wave synchronization with the traffic lights. The result is oversaturated traffic at the traffic signals.In the other model, called a two-phase model, an initial speed disturbance does not cause an MSP and the delays associated with MSPs. However, if the initial speed disturbance is large enough, and there is a large number of vehicles in the wave, then oversaturation and green wave breakdown can still occur. In both models, Kerner found that one or more phase transitions are involved in the breakdown process. Also, breakdown occurs with a certain probability of less than 1; in simulations runs with the same parameters, breakdown occurs at some times but not at others.While the models offer a theoretical explanation of how green wave breakdown may occur, experimental tests are needed to gather data and determine which model best fits the data. Kerner hopes that an empirical test will be performed in which the vehicle speed and flow rate are measured both upstream and downstream of a synchronized traffic signal. By studying speed disturbances and the possible emergence of MSPs, researchers could then determine the initial disturbances and how they lead to green wave breakdown.”This would be a very interesting test for an EU project,” Kerner told Phys.org. “However, as far as I know, there are no EU programs for such empirical studies of signal control. The problem is that my theory contradicts all classical theories of urban traffic, which, as is well known, do not work in the real world.” What causes traffic gridlock? More information: Boris S. Kerner. “The physics of green-wave breakdown in a city.” EPL, 102 (2013) 28010. DOI: 10.1209/0295-5075/102/28010 Explore furthercenter_img © 2013 Phys.org. All rights reserved. Journal information: Europhysics Letters (EPL) (Phys.org) —If you’ve been lucky enough to catch all the green lights as you drive down a busy street, you may have been benefiting from intentional synchronization called a “green wave.” The green wave concept has been around in the US since the 1920s, but it doesn’t always work as it should. When traffic gets backed up for some reason, “green wave breakdown” occurs. In a new paper, physicist Boris Kerner at the University of Duisburg-Essen in Essen, Germany, has modeled and analyzed the causes of green wave breakdown, and the results may lead to better coordinated green waves and more efficient traffic flow. This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.last_img read more

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