23 Oct

LNG Fleets Operating Losses to Hit USD 230 Mn in 2017

first_imgzoom The global LNG shipping fleet will make aggregate operating losses of USD 230 million in 2017 as the spot rates remain under pressure, according to shipping consultancy Drewry.Spot rates (East of Suez) for modern LNG vessels averaged USD 33,000 per day in the nine months to September 2017, representing an increase of 5% compared with the same period last year.While current spot rates are enough to cover operating costs of around USD 15,000 per day, they are still below breakeven, which ranges between USD 45,000 and USD 60,000 per day.Shipowners with substantial spot market exposure face continued challenges as Drewry expects pressure on the freight market to continue in 2018 on account of strong fleet growth.However, rates should strengthen from 2019 as fleet growth slows and trade remains strong, the shipping consultancy informed.“Having said that, we maintain our long-term bullish outlook for LNG shipping as fleet growth will slow down to 4% in 2019, from an average annual rate of 10% in 2017 and 2018 and trade growth will remain healthy at around 6.5% a year in 2019 and 2020,” Shresth Sharma, Drewry’s lead LNG shipping analyst, said.Much of this trade demand will be driven by emerging and growing markets, such as Pakistan, Thailand, Bangladesh, the Philippines and Myanmar, which are forecast to have particular potential for imports, according to Drewry.Although the demand potential of each of these individual markets might not be as great as China or India, their combined demand will be a strong driver of future LNG trade.“According to our calculation the combined imports of these five countries would be around 32 million tonnes in 2020, creating demand for between 25 and 30 LNG carriers,” Sharma added.last_img read more

15 Oct

Spotify launches doityourself platform in Canada for local advertisers

first_imgAdvertisement The multinational company says that beta trials of Spotify Ad Studio — a platform that allows marketers to upload full audio spots or scripts to be voiced by the company — have been expanded to include Canada and the United Kingdom. Login/Register With: The company doesn’t provide country-specific information about its audience but it has an estimated global audience of 159 million paying monthly active users and 92 million free monthly active users. Advertisement LEAVE A REPLY Cancel replyLog in to leave a comment TORONTO — The Spotify music-streaming business is pitching a way for Canadians to create their own audio advertising. Spotify charges its customers for each delivered advertisement, with the price affected by the targeting parameters and a $250 minimum payment in local currency.center_img Among the claims made by Spotify is that it can use consumer music preferences as a way to target advertising — in addition to age, sex and location. Advertisement Twitter The self-serve platform has been going through trials in the United States for about five months. Facebook The Spotify music-streaming business is pitching a low-cost way for Canadians to create their own audio advertising. Music streaming apps, including Spotify, are seen on an iPhone in New York on Sunday, Jan. 28, 2018. THE CANADIAN PRESS/AP-Jenny Kanelast_img read more

14 Oct

Theres a funny fat guy in a silly red suit stuck in

first_imgAPTN National NewsWith Christmas just a few days away, here’s something a little warm and fuzzy.With apologies to Santa, here’s a boy named Quinn singing a song that could someday be a First Nation holiday classic.last_img