MPCC Invests in Three More Feeders

first_imgOslo-listed containership owner and operator MPC Container Ships ASA (MPCC) has resumed its fleet buildup with the acquisition of three more feeders.The company bought MV Victoria Schulte, a geared 2,500 TEU vessel built in 2005, from Triton Debt Opportunities S.C.A. and its subsidiary Victoria Schulte Shipping.The deal has been structured as a combined cash and share deal. Hence, MPCC will pay a total consideration of USD 11.8 million and may settle up to USD 2.9 million of this amount by way of delivering new common shares in MPCC.Additionally, the shipowner has entered into agreements with Schifffahrtsgesellschaft MS WELLE mbH & Co. KG and Schifffahrtsgesellschaft MS WOGE mbH & Co. KG to acquire MV Welle, which will be renamed AS Penelope and MV Woge, future AS Pauline. The two gearless 2,500 TEU vessels were built in 2005 and 2006 at STX Shipbuilding, Korea, respectively, and will be acquired for USD 11 million each.“Physical takeover of the vessels is expected to take place in the second quarter of 2018, lifting the fleet of MPCC to a total of 68 vessels, “the company said announcing the deal.Of this, 40 vessels are owned and operated by the company’s wholly-owned subsidiary MPC Container Ships Invest.Separately, MPCC Invest informed that the proceeds of USD 200 million from the bond issue have been disbursed from the Escrow Account and applied in accordance with the bond terms. MPCC Invest has now taken over all vessels, including 15 initial vessels and 25 additional vessels. The acquisitions of these vessels have been financed, in part, by the bond proceeds.“Within only 12 months, MPCC has become the largest owner globally of feeder container ships with a capacity of up to 3,000 TEU. During the same time charter rates in the segment have developed very positively. Although the supply and demand situation is now pointing towards a rebalancing with a much reduced idle fleet, the market continues to provide attractive acquisition opportunities. “We are currently considering financing options to further grow our business, both via asset acquisitions or ship for share transactions. The recent main board listing on the Oslo Stock Exchange will make us even more interesting for global investors,” Constantin Baack, CEO of MPC Container Ships ASA, comments.Since its inception in 2017, MPC Container Ships completed multiple rounds of funding in the capital markets. The amount raised through both equity and bond offerings currently totals in USD 625 million.last_img read more

Emmanuel Adebayor signs short-term deal with Crystal Palace

first_imgCrystal Palace completed the signing of former Tottenham striker Emmanuel Adebayor on Tuesday.Adebayor was a free agent after leaving Tottenham in September. He visited Palace’s training ground for talks on Tuesday before finalising a short-term deal until the end of the season.The deal includes an option for a longer extension should he impress at Selhurst Park, sources say, and Adebayor has accepted the offer despite initially wanting a long-term contract.The striker’s future has been the subject of speculation for some time with a number of clubs credited with an interest in his services.Palace boss Alan Pardew revealed earlier this month that he was considering a move for Adebayor to help solve his side’s goal scoring problems.The Adebayor deal also signals the end of Palace’s reported interest in signing Chelsea striker Loic Remy on loan, with sources saying Newcastle have made a loan enquiry for the Frenchman. –Follow Joy Sports on Twitter: @JoyFMSports. Our hashtag is #JoySportslast_img read more

2.000 Bikers on the Streets of Tuzla

first_imgAround 2.000 bikers participated in the fifth bike tour of Tuzla yesterday. The bike tour is not of competitive character, the organizers stated. The aim is to promote sport values and enable people to socialize.“Around 2.000 participants from the Tuzla Canton and other places were registered. Our intention is to raise awareness about the importance of cycling for health. Also, together with our sponsor ‘M-Bike’ we prepared a giveaway for three luckiest participants, who will receive bikes,” stated Mirsad Jusić, President of the Cycling Club Tuzla, one of the organizers of the bike tour.Children up to eight years of age participated in a one-kilometer long bike tour, while the bike tour for adults in the length of 14 kilometers took the participants around the city.One of the youngest participants was the three-year-old Hamza Saltović, who was accompanied by his father Amir.“He finds this very interesting. We came here to share the joy and Hamza says he enjoys this. This is a great event for our city because it promotes values that have a positive impact on health,” Saltović said.Admir Musić brought three children, aged eight and nine. They are all amateurs, but they love riding bikes.“We will ride carefully. I am happy that we have an opportunity to enjoy and ride bikes on the street without being afraid of cars and without some limitations,” Musić said yesterday.(Source: faktor.ba/photo: tip.ba)last_img read more

The Opinionated Spectator…Training camp’s hidden gems

first_imgMembers of the media are reflected in the side of a van as Pittsburgh Steelers wide receiver Antonio Brown arrives for NFL football training camp at the team training facility in Latrobe, Pa., Friday, July 25, 2014. (AP Photo)Do you hear that sound? It’s the sound of football coming back to us. Its not games yet. But it’s training camp and I’ll take it!Training camp is the time of the year when teams get to reinvent themselves. Players get to prove themselves and fans breathe a sigh of relief. Football season is back. The game that is more flawed than most care to acknowledge is back.Alexis CobbAt its core, football is dangerous sport. Veterans try to stay healthy and protect themselves from losing their starting spots.The new draftees are trying to learn the teams’ system and prove that the team was correct with drafting.The practice squad players are trying to show that they are good enough to be added to the active roster.And then there is the undrafted free agent.  When it comes to the draft they may have slipped through the cracks but they fight, claw, and dream about making the team.The undrafted free agent has the least amount of status. He is brought into training camp as a camp body.  In other words, he is a person that the team uses so that they don’t wear down and hurt their starters or their veteran players.However, the undrafted free agent, whether he went to a smaller school, ran into legal trouble in school, or he simply didn’t play, as much at a big school, has the same desire when it comes to the football game.They just want to play football at an NFL level.These free agents try not to squander their opportunities and understand how rare it can be for a player with their football experience to play professionally.However, there are thousands of undrafted free agents.  They train, they eat special diets, and then, they wait. They wait for a team to give them an opportunity.  It’s a difficult process and for most, there is no happy ending.Yes, in America we are told if you work really hard, then you can accomplish your dream. But the same cannot be said for the undrafted free agent. They work hard. They train everyday. They work their day jobs to create a sustainable lifestyle and yet they wait.  They wait on front office personnel to subjectively decide to give them an opportunity. But that too is rare for front office personnel to give them their opportunity.I have never understood why NFL front office personnel insist upon saying no to so many undrafted free agents.  They say no to watching their film, to giving them the opportunity to try out for the team, no to signing them into a rookie camp or training camp. Many times these NFL personnel continuously say no and for the undrafted free agent, it can be a devastating, painstaking, and unfair process.It’s one thing to be at camp and fail to make the team; it’s another thing altogether to never get the opportunity to tryout for the team.   And for the undrafted free agents, some never get the experience.But let’s look at the Seattle Seahawks last year. In a league where so many teams don’t want to give undrafted free agents or street free agents an opportunity, they embraced men who were undrafted and had a checkered past. And I don’t know about you, but I’m still impressed by the thorough beat down they put on Peyton Manning’s Denver Broncos. It was masterful.So, in this 2014 training camp I’m rooting for the undrafted free agents and street free agents. I hope that other teams will give these men opportunities to show their skills. So what if they have checkered past, I personally think it adds character.Alexis Sara Cobb may be reached at:  [email protected] or (724) 561-8082  Follow her on Twitter: @alexissaralast_img read more