Debt, equity issuance decline in first quarter

Markit prices IPO at US$24 a share Share this article and your comments with peers on social media Canadian equity and equity-related issuance took an even harder hit, down 37% from the first quarter of 2012, and off by 29% from the fourth quarter of 2012. Issuance totaled $5.7 billion from 80 issues, it says. On the equity side, the real estate sector led the way with a 30% market share, generating overall equity proceeds of $1.7 billion. The energy and power sector ranked second with a 25% share, and financials had a 20% share. Thomson Reuters reports that the top equity underwriter of the first quarter was BMO Capital Markets, which ranked first in Canadian equity & equity related deals, secondary offerings, Canadian common stock & trusts, initial public offerings (IPOs) and retail structured products. RBC Capital Markets ranked first in preferred securities. The vast majority of new issuance in the first quarter came in secondary offerings, totaling $4.6 billion on 64 deals. Although, this is still down 38.6% from the same quarter last year, and down 23.8% from the previous quarter. Retail structured product issuance was down 30% from the same period last year, and preferred issuance was down 10.7%. On the debt side, Thomson Reuters reports that TD Securities led the underwriting league tables in overall Canadian debt and Canadian domestic corporate debt, while RBC Capital Markets was the top underwriter in Canadian government debt and for cross border deals. Government and agency debt continues to make up the majority of new debt issuance, representing a 62% share of overall issuance. Financials and telecoms ranked second third, respectively, with 23% and 7% market shares. Facebook LinkedIn Twitter RBC top equity underwriter for 2015: report HFT firm Virtu Financial plans IPO Keywords Share offerings Related news The Canadian investment banking business didn’t get any easier in the first quarter, with both debt and equity issuance declining, according to the latest data from Thomson Reuters. The firm reports that overall debt issuance (excluding self-funded deals), was down a bit in the first quarter, declining 3% compared with the same quarter in 2012, to $38.8 billion. Compared with the prior quarter, issuance was down 19%. James Langton read more

Read More →

Regulators plan new oversight for CDOR

first_img Despite not finding the same market manipulation issues as have been discovered with other financial benchmarks, such as LIBOR, Canadian regulators are planning new oversight for Canadian Dealer Offered Rate (CDOR). The Office of the Superintendent of Financial Institutions (OSFI) announced today that a group of Canadian regulators is developing an “enhanced oversight framework” for the domestic benchmark rate. Companies Office of the Superintendent of Financial Institutions OSFI notes that Canadian firms haven’t been named among the firms involved with the manipulation of LIBOR, and that a review of CDOR published by the Investment Industry Regulatory Organization of Canada (IIROC) last year pointed out an important distinction between LIBOR and CDOR that means that the Canadian rate may not be as vulnerable to some of the same issues. Given the differences between the two benchmark rates, “certain issues that have been identified regarding LIBOR do not apply to the same extent in the case of CDOR,” it says. Nevertheless, the group of regulators known as the Canadian Heads of Regulatory Agencies — which is comprised of OSFI, the Bank of Canada, the federal Department of Finance, the Ontario Securities Commission, the Autorité des marchés financiers, the Alberta Securities Commission, and the B.C. Securities Commission — is seeking to bolster the oversight of CDOR. OSFI notes that it will take responsibility for supervising the governance and risk controls surrounding CDOR submission processes, given that CDOR submission activities are now solely conducted from within major Canadian banks. The framework will be informed by new international expectations for benchmark rates, adapted to the unique characteristics of CDOR, OSFI says. For example, the International Organization of Securities Commissions (IOSCO) published a new set of principles in July 2013, which aim to address the shortcomings in the processes used to determine some major benchmarks. The principles were endorsed by the Financial Stability Board in August 2013 and by the G20 leaders in September 2013. “Since the global financial crisis, OSFI has increasingly worked with banks to raise the bar on corporate governance and risk management domestically to meet new international standards,” it says. “Consistent with this work, OSFI’s expectations of CDOR submitters will be principles-based and focused on their internal benchmark submission activities and processes. OSFI will set out its expectations for CDOR submitters over the course of 2014.” James Langton center_img Share this article and your comments with peers on social media Facebook LinkedIn Twitterlast_img read more

Read More →

University launches Digital Sciences Initiative

first_imgUniversity launches Digital Sciences Initiative The Initiative will focus on four key research missions: digital health imaging, digital agriculture, data-centric engineering and defence. The University of Sydney’s Faculty of Engineering today launched the Digital Sciences Initiative – a world-class program aimed at embedding and enhancing 21st century digital skills within research and across undergraduate degrees.The initiative has also been established to break down barriers between faculties and disciplines by establishing multidisciplinary research areas that will solve some of the world’s greatest challenges in health, agriculture, advanced manufacturing and defence.It will address these challenges both on a local and global basis by collaborating with industry and government, playing a leading role in Sydney’s technical precinct, Tech Central, as well as greater Sydney, including the Western Sydney Aerotropolis.In response to the huge advancements already being achieved through the digitisation of these industries, the Digital Sciences Initiative will integrate advanced data science and computing skills into research and undergraduate programs across all seven schools within the Faculty of Engineering.It will also fast-track research and development within four key research missions that will enhance collaboration of researchers across faculties: digital health imaging; digital agriculture; defence; and data-centric engineering, in response to increased global industry demand for R&D in these areas.Designed in consultation with researchers and industry, the digitally focused curriculum has also been created in response to a rapidly changing workforce and world. Globally, engineering roles are increasingly demanding advanced digital skills across almost every industry, from aviation to biomedical engineering.Dean of the Faculty of Engineering, Professor Willy Zwaenepoel said: “The Initiative is a unique opportunity for our University to seize an internationally leading position in digital sciences and engineering and align itself with industry and government initiatives in the four key research areas.“Through our Faculty’s fostering of cross-faculty collaboration, we aim to be to be a driving force in fundamental digital science and technology research and education, with digital skills at the core of all our research and teaching undertakings now and into the future to the benefit of our graduates and industry stakeholders. Just as the ability to read and write is a foundational skill for almost every discipline, digital knowledge has become an elemental skill within almost any engineer’s répertoire.Professor Willy Zwaenepoel, Dean of the Faculty of Engineering Launch of the Digital Sciences Institute click to show image click to show image click to show image click to show image click to show image click to show image next slide previous slide “Our key research missions will encompass researchers from disciplines across the University, to better respond to global challenges, such as using digital agriculture to increase food security, to using AI and machine learning in health to take pressure off overburdened health resources.”Professor Zwaenepoel said the undergraduate curriculum has been designed to enable students to enter the workforce “job ready” and with an agile skillset placing them at the forefront of engineering innovation. He said: “Just as the ability to read and write is a foundational skill for almost every discipline, digital knowledge has become an elemental skill within almost any engineer’s répertoire.”“Rapid advancements in computational tools and the utilisation of rich data in engineering practice mean skills in data science and computation are being increasingly demanded across almost every engineering industry, from civil to aerospace engineering,” he said.University of Sydney Vice-Chancellor and Principal, Professor Stephen Garton, said the curriculum’s digital focus and the Initiative’s focus on collaborations between disciplines across the university would better equip researchers and graduates to design a better future.“Our new digital curriculum for undergraduate engineering students will ensure our students are ready to respond to the world’s future challenges when they graduate,” said Professor Garton. /University Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:advanced manufacturing, Agriculture, AI, Australia, biomedical, Central, Dean, digital health, Engineering, Government, innovation, machine learning, Sydney, technology, university, University of Sydney, Western Sydneylast_img read more

Read More →

CU-Boulder Ranked No. 5 on List of ‘Best Value’ Public Colleges by USA Today and Princeton Review

first_imgShare Share via TwitterShare via FacebookShare via LinkedInShare via E-mail Published: Jan. 12, 2010 The University of Colorado at Boulder is the nation’s No. 5 “Best Value” public college or university for 2010 according to rankings released today by USA Today and The Princeton Review.CU-Boulder’s “reasonable tuition is one of the school’s major selling points,” stated the CU profile posted on USA Today’s website. “Tuition (including mandatory fees) for Colorado residents ranges from roughly $8,000 to $12,000 annually, depending on the academic program. For nonresidents, tuition ranges from $28,000 to $31,500. Room and board is an additional $10,000 annually. Aside from these expenses, the school estimates that a student will spend about $2,000 in books and supplies.”The rankings featuring 100 schools — 50 public and 50 private — are posted on the websites of USA Today and The Princeton Review. The top 10 schools in the public and private categories are ranked and the remaining 40 schools are listed in alphabetical order.The rankings were based on surveys of administrators and students at more than 650 public and private colleges and universities. The selection criteria covered more than 30 factors in three areas: academics, costs of attendance and financial aid, using the most recently reported data from each institution for the 2008-09 academic year.”It is gratifying to have a national publication recognize what Colorado students have known for a long time: CU-Boulder is an amazing value,” said CU-Boulder Chancellor Philip P. DiStefano. “We are committed to providing an outstanding and affordable education for Colorado students and, indeed, for students around the nation and the world.”The rankings are posted at www.bestvaluecolleges.usatoday.com and www.princetonreview.com/best-value-colleges.aspx. USA Today’s site features a database that allows users to view in-depth details about the schools by clicking on an interactive map to explore criteria including cost of attendance and financial aid data, enrollment size, location and The Princeton Review’s analysis of why each school was chosen as a “Best Value” college.last_img read more

Read More →

Calling all nominations for Chancellor’s Employee of the Year

first_img Published: Sept. 5, 2018 Share Share via TwitterShare via FacebookShare via LinkedInShare via E-mail Chancellor Philip P. DiStefano invites nominations for the 2018 Chancellor’s Employee of the Year Award. This annual award is presented to CU Boulder staff in recognition of and appreciation for exceptional job performance and distinguished contributions to the campus community.  The award includes a prize of $2,000 and a commemorative gift. The 2018 award will be presented at a private reception in December.EligibilityAll eligible CU Boulder classified and university staff may be nominated for this award.Nominees must have been employed by CU Boulder for at least three years by the nomination deadline and must not have received any corrective and/or disciplinary actions within the last five years.Employees may only receive this award once during their campus career.Please note nominations of university officers will not be considered.NominationsNominations may be submitted by any member of the campus community (staff, faculty or student) who has firsthand knowledge about the nominee. This year, nominations should be submitted using the online nomination form.Each nominee should have one primary nomination submission and two additional supporting submissions by individuals other than the primary nominator. At least one of the submissions must be from the nominee’s direct supervisor.If you apply2018 Chancellor’s Employee of the Year Awards nominations are due by 11:59 p.m. on Sunday, Sept. 30.Submit a NominationNominations should address and provide specific examples of the following criteria:Outstanding job performanceDemonstrates consistently outstanding performance in all areas of their jobIncorporates ethical practices and behaviors in all areas of their jobInspired leadershipLeads with integrity and in a way that contributes constructively to the department or campus’ missionIdentifies and addresses challenges that arise in an honest, thoughtful and ethical mannerExtraordinary service to the campus, department or surrounding communitySupports the unit, department, college, campus or surrounding community in unique ways that go beyond the employee’s job responsibilitiesExceptional interpersonal skillsSupports co-workersImproves department/division/unit moraleProvides outstanding customer serviceConsistently exhibits a positive attitudeSubmission processTo submit a nomination or supporting submission, please complete the electronic nomination form. Nominations must be received by 11:59 p.m. on Sunday, Sept. 30.No more than three total submissions will be accepted for each nominee. Submissions will not be accepted past the nomination deadline.For additional information or questions, please contact Mark Berge at 303-492-8909 or [email protected]center_img Categories:NominationsDeadlines & AnnouncementsCampus Communitylast_img read more

Read More →

Advice for first-years from your peers at Career Services

first_imgHow to prepare for an interview By the time you get to an interview, the employer has already decided that you… Read more 4 things to do after completing your summer internship Internships can be crucial in developing new skills and understanding the world of work. As… Read more Share Share via TwitterShare via FacebookShare via Google PlusShare via LinkedInShare via E-mail Adjusting to campus life and getting familiar with all of the opportunities to tap into can be overwhelming. Trust us, we’ve been in your shoes. It’s important to know that you are not alone and that your peers are here to help you through every step of your college career. Thinking about life after CU Boulder may feel like forever from now. So, we wanted to pass on some advice that could help you tackle the process one small step at a time. Connect with upperclassmenFind a mentor on campus who has been in your shoes before – perhaps an upperclassman or Teaching Assistant. They will be able to give you advice, get you connected and help you grow as a student and young professional. – Eden, Finance Junior – Strengths Peer Coach​Discover your strengths Be mindful of your natural talents and use them to market yourself to future connections. When you are honest about what you can offer, you end up doing things that not only you are great at but are the most impactful and beneficial for others. Taking the CliftonStrengths assessment can help you start discovering your natural abilities. – Abbie, Strategic Communications Junior – Strengths Peer CoachJoin a campus organizationWhether it be something related to your major or just one of your hobbies or passions, on-campus organizations are a great way to make new friends and find things to do after class. The connections you make there can be the start of lifelong relationships and pursuits! – Adam, Political Science Sophomore – Outreach and Development CoachTake advantage of every opportunity to get involved. CU Boulder is a large school and, so as I have found, getting involved is the best way to make you feel connected to campus and make it your own experience. With so many options and free, helpful services it’s hard not to find a way to make your time at CU Boulder personalized to your interests. – Lizzie, Strategic Communications Sophomore – Outreach and Development CoachResearch potential career optionsStart reading through job or internship postings and make note of the preferred requirements for skills and knowledge they want you to have. You might not learn some of these skills in the classroom. Discover ways to gain these skills, whether through an on-campus job, volunteer opportunity or campus organization. You will be even more equipped with experiences when applying for internships or jobs in the future.  – Nasurudin, Computer Science Junior – Outreach and Development CoachIt is never too early to explore job opportunities. There are so many companies out there that you may never have heard of! When you explore, you can find your perfect fit or maybe even be motivated to branch out and design a career path that’s totally unique to you. – Grace, Oboe Performance Junior – Outreach and Development CoachIf you have any questions – from choosing a major or career path to getting involved on campus or taking the CliftonStrengths assessment – your peers at Career Services are here. Come to our drop-in hours from 12 p.m. to 4 p.m. Monday through Thursday or schedule an appointment on Handshake. Categories:StrengthsCareer AdviceTags:Feature Article Tips for finding a job before graduation It’s your final year of college! While it may seem too early to start thinking… Read more Relevant Articleslast_img read more

Read More →

Gov’t yet to reach decision of Digicel/Claro deal

first_imgGov’t yet to reach decision of Digicel/Claro deal TechnologyMay 6, 2011 By CHRIS PATTERSON, JIS Reporter Advertisements RelatedGov’t yet to reach decision of Digicel/Claro deal FacebookTwitterWhatsAppEmail KINGSTON — Minister with responsibility for Information, Telecommunication and Special Projects, Hon. Daryl Vaz, says the Government has not yet made a decision on the proposed deal between Digicel and Claro Jamaica. “There have been a number of meetings internally (in) which the Prime Minister himself has been involved in. The Budget has kind of intervened and the Prime Minister speaks early next week (May 10), so I think that it will be something that will be followed up and dealt with in due course in terms of a decision, but it is definitely on the priority list,” Mr. Vaz said. The Minister was responding to questions posed regarding the deal during May 4 post-Cabinet press briefing at Jamaica House. Digicel recently announced that it had entered into an agreement with América Móvil to acquire its Claro business in Jamaica, and to sell to América Móvil its businesses in Honduras and El Salvador. RelatedGov’t yet to reach decision of Digicel/Claro deal RelatedGov’t yet to reach decision of Digicel/Claro deallast_img read more

Read More →

Tourism Ministry Moves Forward with Entertainment Registry

first_imgRelatedMajor Tourism Projects to be Announced in Sectoral Debate RelatedJamaica Welcomes 130 Passengers on New Flight from Canada RelatedJamaica Encouraged to Develop Health Tourism Industry Advertisementscenter_img FacebookTwitterWhatsAppEmail The Ministry of Tourism and Entertainment is moving ahead with plans to establish an Entertainment Registry, which will certify and register local entertainment practitioners.Minister of State in the Ministry of Tourism and Entertainment, Hon. Damion Crawford, in his Sectoral Debate presentation on Wednesday, June 3, explained that the registry will provide an information hub “that facilitates the delivery and administration of the processes necessary for the development of a sustainable entertainment industry”.The aim, he said, is to build the industry while ensuring that the stakeholders reap the benefits.He informed that when operational, the registry will provide a central portal for listing Jamaican entertainment services and companies including their key profile and contact information; legitimise the entertainment industry for greater economic benefit; facilitate efficiency and transparency within the entertainment industry; and provide for the free movement of creative skills internationally and across the region.As it relates to free movement for artistes within CARICOM, Mr. Crawford said that the Tourism Ministry has had meetings with the Ministry of Foreign Affairs and Foreign Trade on the matter, and has participated in regional discussions, including the 13th Meeting of Officials on the Free Movement of Skills and Facilitation of Travel, which was held in September 2012.Members of the Ministry’s Entertainment Division along with representatives from the Ministry of Youth and Culture and JAMPRO, formed the contingent to the regional meeting.The State Minister said the Division was concerned with free movement within the context of travel of artistes, musicians, sportspersons and cultural workers across the Caribbean Single Market and Economy (CSME).“In this context,the Entertainment Registry will provide economic benefits to practitioners through a Regional Customs Exemptions Regime and other incentives especially those derived from the Economic Partnership Agreement (EPA) and other trade/development agreements,” Mr. Crawford said.Mr. Crawford, who first announced the move to establish the registry, at a public consultation in Kingston in May, explained at the time, that the registry will assist artistes when they apply for work permits and visas for overseas engagements.“We have heard many complaints of artistes not being able to travel and perform and our research shows that if they were actually listed as professionals (they would be looked at favourably). Persons were saying ‘how do we know that this person is an artiste?’ We have looked at the EPA as it relates to European travel and the freedom of movement also calls for a registry,” he said.Contact: Latonya Linton Tourism Ministry Moves Forward with Entertainment Registry TourismJuly 4, 2013Written by: Latonya Lintonlast_img read more

Read More →

Your Column Here – The shame around men and eating disorders is killing us

first_imgHomeOpinionColumnsYour Column Here – The shame around men and eating disorders is killing us Feb. 29, 2020 at 6:00 amColumnsFeaturedNewsYour Column HereYour Column Here – The shame around men and eating disorders is killing usGuest Author1 year agoeating disordermenRyan Sheldon By Ryan SheldonI remember hating my body as early as 8. As my T-shirt clung to my body in the pooI, I told people I sunburned easily as an explanation for wearing it.At 13, I distinctly remember a shift in my relationship with food. I always had disordered eating habits, but in early adolescence I realized I was binge eating.Popular narratives cast thin white women as the only victims of eating disorders. But consider this: one in three people who struggle with an eating disorder identify as male. Men oftentimes don’t seek help because of gendered stigma and rigid societal standards for masculinity.For men, the eating disorder experience can be lonely, confusing, and isolating. My struggle was glossed over. My family and doctors said I was just growing, but I had binge eating disorder, the most common eating disorder that occurs three times the rate of anorexia and bulimia combined.The growing boy narrative followed me through my teenage years. I was 16 and weighed more than what doctors deemed “healthy,” triggering a two-year restriction and dieting period. When I got to college, the ‘freshman 15’ unraveled into something more insidious. I’d go to a friend’s place for dinner only to leave the hangout early and order more food to my own room. Nobody knew what I was doing, and I had nobody to talk to.In adulthood, I was taking sleeping pills during the day so that I would sleep instead of binge eat. It felt like the only way to stop myself from eating more. This went on for months.Exhausted and miserable, I went to get help. Though I shed weight through incredibly unhealthy and debilitating eating behaviors, my doctor congratulated me. It reminded me of the countless doctor visits I’d taken throughout my youth, where I was told I was a growing boy, which somehow meant I couldn’t possibly have an eating disorder.We need to dismantle the current model of masculinity and encourage boys and men to advocate for themselves. Just like girls, we pay attention to our bodies and what people say about them. We need to give boys the tools to be self aware — the National Eating Disorders Association has a screening tool to assess whether you should seek professional help. Let’s help boys and men feel safe enough to tell someone when they’re struggling– encourage them to reach out to a helpline. And when early intervention is critical to recovery, we must help them find professional support and treatment as early as possible.To be sure, this narrative is changing, but when eating disorders have the second-highest mortality rate of any psychiatric diagnosis, it needs to change quicker.I now know that I am not alone in my struggle. Of the 30 million Americans with eating disorders, 10 million are men. Nationally, there is a movement gaining momentum. The National Eating Disorders Association (NEDA) announced that it would merge forces with the National Alliance of Men with Eating Disorders (NAMED), and people are realizing the dearth of resources available for men who desperately need it.It’s National Eating Disorders Awareness Week, and the theme is Come As You Are: Hindsight is 2020. We are reminded that all eating disorder stories are valid, especially from marginalized voices. No matter who you are, what you look like or how you identify, share your story. The more boys and men know about eating disorders, the more they can reach out for help.Eating disorders can affect anyone. They do not discriminate. Let’s acknowledge the barriers stopping men from speaking up and getting help early and work together to support all victims.Ryan Sheldon is a model and motivational speaker from Santa Monica. If you or someone you know is struggling with an eating disorder and are in need of support, please call the National Eating Disorders Helpline (800-931-2237) or text NEDA to 741741.Tags :eating disordermenRyan Sheldonshare on Facebookshare on Twitteradd a commentSMC Black Collegians Receives $325,000 from Private Donor to Expand Opportunities for StudentsSupervisor Hahn Announces “Ocean Economy” as Newest Official Economic Sector in LA CountyYou Might Also LikeFeaturedNewsBobadilla rejects Santa Monica City Manager positionMatthew Hall6 hours agoColumnsOpinionYour Column HereBring Back Library ServicesGuest Author12 hours agoNewsCouncil picks new City ManagerBrennon Dixson17 hours agoFeaturedNewsProtesting parents and Snapchat remain in disagreement over child protection policiesClara Harter17 hours agoFeaturedNewsDowntown grocery to become mixed use developmenteditor17 hours agoNewsBruised but unbowed, meme stock investors are back for moreAssociated Press17 hours agolast_img read more

Read More →

News / Clock is ticking as FMC continues to mull approval for 2M mega-alliance in the US

first_imgBy Mike Wackett 08/10/2014 The 45-day consultation period for Maersk and MSC’s 2M east-west trade vessel-sharing agreement (VSA) submitted to the US Federal Maritime Commission on 27 August ends on 11 October, with still no indication that the Washington agency will make a request to the prospective partners for further information and effectively stop the clock on the approval of the deal.Despite two of the five FMC commissioners publicly voicing concerns at the influence of the VSA, there would appear to be little to justify withholding approval, especially given that the agency had already green-lighted its ill-fated predecessor, the larger P3 alliance.Moreover, the FMC’s jurisdiction covers only US tradelanes and, in this respect, its main objection to the original P3 proposal of a single procurement body for terminal and other services was written out of that document. The re-jigged wording that the partners would enter into separate individual service contracts remains within the 2M submission.Nevertheless, the FMC will have taken on board a letter from the European Shippers’ Council, in which chairman Denis Choumert expressed his members’ concern that approving a VSA between the world’s two largest carriers could result in an “extremely damaging situation for world trade”. Mr Choumert wrote: “The gathering of the two first ship operators will create a huge player that will be in a position to have such a power that they can distort the market for the purpose of price increase.”The “power” is no doubt a reference to the probability that the 2M would blank sailings to adjust supply to meet demand, but this is now common practice by other alliances, such as the G6 and the CKYH-E, and it has not been especially successful in arresting the decline of freight rates across world trades.But if the FMC does want any clarification from the 2M partners, it could be on the contentious clause in the agreement that allows the carriers to share commercially sensitive information, if “strictly necessary”.However, on the subject of the ESC’s concerns about price increases as a consequence of the 2M alliance, there is no evidence to suggest that freight rates are heading north any time soon – quite the reverse, according to the latest comments from Drewry Maritime Research, ahead of the publication of its Container Annual Review & Forecast 2014/15.According to Drewry, the rationale for the formation of mega-alliances is based solely on the continued reduction of unit costs – with carriers accepting that with an orderbook of around 100 ultra-large containerships to be delivered during the next two years, there is unlikely to be any improvement in freight rates.Indeed, Drewry forecasts that freight rates will decline by as much as 3-4% ,year-on-year, in 2015, suggesting that it is imperative that carriers continue to focus on unit cost-reduction with the deployment of big ships within an expense-sharing alliance.last_img read more

Read More →