Tag: Angoni

Scorpio Bulkers Plunges Deeper into Red

first_imgzoom Scorpio Bulkers Inc. posted a net loss of USD 138.6 million, or USD 0.71 basic and diluted loss per share, for the three months ended June 30, 2015, increasing its net loss of USD 15 million from the same period last year.This loss includes the write down on assets held for sale of USD 119.6 million, a write off of USD 2.4 million of a portion of deferred financing costs accumulated on two credit facilities, and the noncash amortization of stock-based compensation of USD 6.1 million.For the six months ended June 30, 2015, the company’s net loss reached USD 190.7 million, or USD 1.03 basic and diluted loss per share, against a net loss of USD 25.7 million in the same period last year.Scorpio said that this loss includes the write down on assets held for sale of USD 151.4 million, a write off of USD 6 million of a portion of deferred financing costs accumulated on three credit facilities for which the commitments were reduced pursuant to the removal from the facilities of certain vessels that have been classified as held for sale, and the noncash amortization of stock-based compensation of USD 12.2 million.In order to cut its losses in what has been characterized as devastating bulk shipping market, overall, the Nasdaq-listed bulker owner and operator has agreed to sell 20 newbuilding construction contracts, consisting of eight Capesize, two Aframax tanker newbuilding contracts, two Kamsarmax, one Ultramax, four LR2 product tanker and three LR1 product tanker newbuilding contracts.Out of that number, 16 newbuilding vessels have been sold, with three Capesizes and one Kamsarmax left.Scorpio expects these sales to result in approximately USD 197 million of aggregate cash proceeds, including refunds of deposits previously made, and an approximately USD 673.2 million reduction of its capital expenditure obligations.The company’s newbuilding program consists of contracts for the construction of 60 dry bulk vessels, comprised of 28 Ultramax, 21 Kamsarmax and 11 Capesize newbuildings. Of this total, through July 27, 2015, Scorpio took delivery of three Capesize, three Kamsarmax and six Ultramax vessels.The total construction price for the remaining 48 drybulk vessels is USD 1,621.4 million, with USD 994.3 million yet to be paid.last_img read more

Duchess of Cambridges family connections to Brian Ború unveiled

first_imgTHE IRISH CONNECTIONS of the Duchess of Cambridge have been unveiled by Tourism Ireland – and they stretch all the way to Brian Ború.It announced them today at an event in the House of Commons in London, which was attended by British Prime Minister David Cameron and An Taoiseach, Enda Kenny TD, who is on a visit to London.Niall Gibbons, CEO Tourism Ireland,  An Taoiseach Enda Kenny, and Prime Minister David Cameron. Pic: Fennells/Tourism IrelandIt said that genealogists’ research shows that the Duchess of Cambridge, who is married to Britain’s Prince William, Duke of Cambridge, has connections through the Lupton family from Yorkshire with the Fitzmaurices, a noble family from Co Kerry, who in turn had links back to Brian Ború, the first High King of Ireland.Family History YearThe Duchess won’t be the only person of note discovering her Irish roots – over the coming weeks, Tourism Ireland will roll out an initiative inviting members of the British House of Commons and House of Lords to explore their Irish family connections.The move comes as 2013 is named Irelands’ Family History Year, with Tourism Ireland encouraging people – as part of The Gathering Ireland – and to find out more about their Irish heritage.Niall Gibbons, CEO of Tourism Ireland, said that the history, culture and family links between Ireland and Great Britain stretch back generations.A PDF of the Duchess’s family connections to Ireland can be viewed by clicking on this link.Read: When is Will and Kate’s royal baby due?>last_img read more