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Calima Energy to acquire Tommy Lakes infrastructure in Canada

first_img The Tommy Lakes Infrastructure lies immediately north of the Calima Lands. (Credit: Calima Energy Ltd) Calima Energy has signed an agreement to acquire compression facilities, associated pipelines and infrastructure in the Tommy Lakes field in British Columbia, Canada from Canada’s independent oil and gas producer Enerplus.The main components of the assets considered for acquisition include compression, processing and associated pipelines capable of transporting up to 50 million cubic feet per day (Mmcf/d) of gas and 1,500-2,000 barrels per day (bpd) of well-head condensate to NorthRiver’s Jedney processing facility.It also includes field office with a control centre and flexible camp facilities suitable for drilling operations as well as year-round condensate storage and off-loading facilities. Financial terms of the deal were undisclosed.Calima managing director Alan Stein said: “This is a significant strategic acquisition that gives the Company access to markets in a very cost-efficient manner. With gas prices showing consistent increases over the last 6 months development economics are showing steady improvement.“With a replacement value of $85 million the re-use of Tommy Lakes significantly reduces capital cost however, just as importantly, avoids the time involved in permitting and constructing new facilities. The Calima Lands are now ready for development once a funding partner is secured.”Calima said that the facilities are of strategic value as they are located 20km from its lands.Recently, the company secured regulatory approval to construct the pipeline to connect the company’s suspended wells on Pad A to the Tommy Lakes facilities.Calima to acquire 11 gas production wells in Tommy Lakes fieldSeparately, Calima has signed an option agreement to acquire 11 gas production wells on or before 1 April 2022 in the Tommy Lakes field.The company will have an option to use gas from the wells as fuel as part of the start-up sequence for the facilities.The Tommy Lakes field, which has been in production since more than 20 years, uses conventional completion techniques from the Dog/Halfway Formation located immediately above the Montney.Last year, Calima reported the spudding of the first well to test the prospectivity of the Montney Formation in its lease holdings in British Columbia. Calima will acquire assets including compression, processing and associated pipelines in the Tommy Lakes fieldlast_img read more

News story: ‘Small businesses are the backbone of our economy’

first_imgSince Carillion went into liquidation, we’ve taken a range of measures to keep the public services they provided on track, save thousands of jobs and negotiate around £1 billion of support from lenders for suppliers and subcontractors.The Official Receiver is conducting an investigation into the cause of the company’s failure, and once published these findings will help provide answers to all those affected.Clearly, there will be lessons to be learned – but our approach will not be guided by ideology. There is a clear advantage for the private sector to assist in the delivery of high-quality public services.Many vital infrastructure projects like roads, schools and hospitals have been delivered successfully by private companies, stimulating our economy, creating jobs and delivering better services for all.In providing these services, it is the government’s duty to ensure value for money for taxpayers. But this does not mean that we want to push suppliers into loss. Suppliers should expect a decent, but not excessive, rate of return.It is also important that the government is able to call upon a diverse range of suppliers, of all sizes, willing to compete for our business. This will help drive innovation and ideas – and promote healthy competition in the market.Small businesses are a vital part of this and I believe we can do more to support them. They are the engine of our economy, fuelling growth and employing 16 million people. That is why, in line with our modern industrial strategy, we have set a challenging aspiration that 33 per cent of procurement spend should be with small businesses by 2022. And this government is doing more than ever to break down barriers for small businesses that want to supply to the public sector.We have already brought in changes to public procurement to make it easier for small businesses to supply government, including abolishing pre-qualification questionnaires, setting and meeting challenging targets for prompt payment by government and breaking down contracts into smaller lots, to make them more accessible.In the most recent figures from 2015/16, government spent £5.6 billion directly with small businesses. Indeed, when sub-contracts to small businesses from larger suppliers was taken into account, total spend rose to £12.2 billion.And we have set up services that enable companies to report poor commercial behaviour for investigation, as well as establishing Contracts Finder, the online advertiser for contracts.But we want to go further and get more small businesses involved. That is why today we are launching a range of measures to encourage small firms to compete for government contracts. We will consult on how to exclude bidders from major government procurements if they cannot demonstrate prompt payment to their subcontractors. We will also require large suppliers to advertise subcontracting opportunities on Contracts Finder and report their spend with smaller businesses to improve visibility.And as an indication of this priority to the Prime Minister, each government department will be required to have a dedicated Minister to champion small business spend.Experience has shown us that small businesses deliver fresh, creative ideas that benefit us all. ADi Access, based in Cornwall, has developed audio descriptive products to help people with sight impairment to use public services – and has grown 300 per cent with public sector contracts.Additionally, 4Net Technologies in Manchester – whose unique and agile approach has enabled it to win the contract to provide the phone service for Downing Street – has seen its turnover increase by over £12 million, thanks to winning government contracts.We will continue to drive change to help diversify our supplier base, with small businesses playing a vital role in this, helping us to build a strong, viable private sector that delivers value for taxpayers and jobs for millions all over the UK. This Government is committed to doing all it can to help them flourish.last_img read more

Innovation Lab appoints new managing director

first_imgJodi Goldstein will become the Evans Family Foundation Managing Director of the Harvard Innovation Lab (i-lab). The i-lab is a University-wide facility that fosters team-based and entrepreneurial activities, and provides a forum for interactions among students, faculty, alumni, and the surrounding community. Goldstein will officially assume her duties in June following the departure of current Managing Director Gordon Jones.Goldstein has been a key member of the i-lab management team since its launch in 2011, conceiving and delivering high-quality programming and resources across the University and in a range of interest areas. In 2014 she spearheaded the Launch Lab, a business incubator for Harvard alumni that is already demonstrating the potential and future of Allston as a solutions-centered community built on interdisciplinary collaboration.“We all can be proud of the i-lab’s extraordinary success, beyond what any of us might have imagined when it opened its doors just over four years ago,” said Nitin Nohria, dean of Harvard Business School and director of the i-lab advisory board. “In this next stage of its development, there is no better choice than Jodi to serve as its leader.”“Her demonstrated commitment to supporting young entrepreneurs, ability to build relationships and map new paths, and deep commitment to the i-lab’s mission make her the right person to guide the i-lab to new heights,” added Harvard Provost Alan M. Garber.Goldstein has held a variety of roles at General Electric, TA Associates, and multiple startups ranging from product, market, and business development to strategic consulting. She is widely known in the Boston startup ecosystem, having been an entrepreneur and investor in the region for 20 years.Goldstein earned her bachelor’s of science degree in international business from the University of Vermont and also holds an M.B.A. from Harvard Business School.last_img read more

Miss Cavanaugh crowned Miss ND

first_imgMichael Yu | The Observer Senior Brittany Dymm replaces her Miss Cavanaugh sash with a Miss ND sash after she was crowned Miss ND 2017 Wednesday. A panel of four judges declared Dymm the winner after two rounds of competition.Senior Brittany Dymm of Cavanaugh Hall was crowned Miss ND 2017 at O’Neill Hall’s signature event Wednesday.Throughout the event, one representative from every female dorm on campus showcased a talent, and three finalists participated in a question and answer session in front of a panel of four judges and other members of the Notre Dame community in Washington Hall.Sophomore Nick Martinez, the event’s organizer, said all of the contests were selected on a volunteer basis by the hall governments of each respective female dorm.“I’m really grateful for everyone in O’Neill and all of the participants,” he said. “We’re super excited, because this year we did pre-sale tickets in LaFun, which we didn’t do last year. The pre-sale tickets [surpassed] all of last year’s ticket sales.”According to Martinez, the judges for the event were also selected on a volunteer basis, but event organizers tried to get “campus celebrities” as judges. The final panel was made up of South Hall Dining monitor Pam Hardy Jobin, Miss South Bend 2016 — and a member of the class of 2014 — Gina Klingel, sophomore O’Neill resident and defensive lineman Jerry Tillery and senior Joe Cabrera, Mr. ND 2016 and another O’Neill resident.“It is so much fun,” Jobin said. “The girls are talented and bubbly. Their personalities are wonderful. I’ll be judging on personality — I’m a big personality person. It is such a worthy cause for the homeless shelter. They do such a good job. The boys put a lot of effort into it.”Although most talents involved either singing or dancing, junior Annie Batcheller — the first Miss Flaherty — walked the audience through the evolution of her Snapchats, while sophomore Abby Whalen — this year’s Miss Farley — played “My Heart Will Go On” on the recorder and sophomore Veronica Wegner — Miss Welsh Family — rolled around the stage in Wheelie shoes before chugging water out of a jug via a feeding tube.Contestants also found ways to put unique spins on various singing acts. Eventual winner Dymm played a ukulele and sang while hula hooping, and sophomore Madeline Petrovich, Miss McGlinn, sang a song listing all the books of the Bible, while other variations included dancing and lip synching.After all of the contestants had presented their talents, the judges deliberated while the audience watched humorous videos filmed and acted out by residents of O’Neill Hall, including a parody of “The Bachelor,” “Rudy” and the “Mean Tweets” segment from “Jimmy Kimmel Live” — in which all tweets were jokingly said to originate from O’Neill rector Christopher Rehagen and were written in the style of a tweet from President Donald Trump.Aside from Dymm, the final round of the event featured sophomore Maggie West as Miss Pasquerilla East, and junior Katie Surine as Miss Lewis. The three took turns answering humorous questions from the master of ceremonies, junior O’Neill resident Matthew Yoder, before the judges made their decision and Dymm was crowned Miss ND.The Cavanaugh senior said the idea for her act has been with her for a while, and noted the significance of the event taking place on International Women’s Day.“I’ve had the hula idea since sophomore year,” she said. “… In honor of International Women’s Day, I’m glad that that this event involves women showcasing their talents, not making them showboat around in weird outfits.”Tags: Cavanaugh Hall, Miss ND, O’Neill Hall, signature eventlast_img read more

VEDA approves $4.9 million in financing

first_imgVEDA BOARD OF DIRECTORS APPROVESFINANCING COMMITMENTS TOTALING $4.9 MILLION Montpelier, VT – Business development, acquisition and expansion plans totaling almost $10.9 million will receive $4.9 million in financing assistance from the Vermont Economic Development Authority (VEDA). Projects approved by the Board include manufacturing, educational, travel and tourism, agricultural, and service businesses, said Jo Bradley, Chief Executive Officer of VEDA. We are pleased to be able to help these businesses grow and expand, bringing new jobs to their regions. The VEDA Board approved financing for the following projects:” Business Relocation to Shaftsbury Expected to Create 165 Jobs in Bennington County Within Three Years -Bernstein Designs was approved for $924,000 in financing to acquire and improve the vacant former Stanley Works facility in Shaftsbury. The company, which manufactures and sells mannequins and retail model forms to major retails stores across the country, is a family-owned and operated business, having been founded in 1917. Now operating out of a 92,500 square foot leased facility in Port Washington, N.Y., Bernstein Designs will also acquire an affiliated company, Alternatives Plus Manufacturing, Ltd., based in Hoosick Falls, VT as part of the $2.76 million project. Both operations will be consolidated at the Shaftsbury location, bringing an initial 130 jobs to the area, a number that is expected to grow to 165 within three years. Chittenden Bank is also providing financing for the project.” Killington Mountain School to Establish New Campus Killington Mountain School, recognized as one of the top five winter sports academies in the country, has been approved for a $1.5 million revenue inducement bond to help finance development of a new campus. This will be the first time in the schools history that it will own its own campus. Founded in 1974, the school now has 75 students; former students have been placed on the U.S. Ski Team and in the Olympics. The VEDA inducement bond, to be purchased by a local bank, will enable the school to acquire 3.8 acres of land, and a 26,282 square foot former inn. Renovations to the property will include 15 dorm rooms, four faculty apartments, administrative and coaches offices, a library, board/meeting room, student lounge, serving and dining room, athletic training room, equipment storage room, physical therapy room, and science and photography labs. Total project funding of $1.95 million will be supplemented by up to $2.5 million in additional funds raised through a capital campaign. It is estimated that post-project, Killington Mountain School will employ 38.” New Pallet Manufacturing Plant Coming to Rutland A-1 Lumber Company, a new hardwood pallets manufacturing company formed by Boris Serkalow of N. Clarendon, will lease a 12,000 square foot building being constructed for it in Rutland Economic Development Corporations (REDCs) Airport Industrial Park. The VEDA Board approved $500,000 for the company to purchase machinery and equipment and provide working capital as part of a $1.1 million total project. Banknorth and REDC are also participating in project financing. It is expected that 18 new jobs will be created within three years at the plant. In the Vermont SBA 504 Corporation portion of the meeting, the VEDA Board approved the following projects:” Purchase of the Manchester Highland Inn by Diana and Didier Cazaudumec. $398,000 was approved as part of a $1.1 million project to purchase the 15-room inn and 2.4 acres. The Chittenden Bank is also participating in the project financing.” Construction and equipping of a 5,200 square foot grocery store and deli in Lyndonville by Marcel A. Dionne and Good Food Company, Inc. VEDA approved $228,000 in financing for the project, which is also being financed by the Merchants Bank and NCIC. Total project costs are expected to be $634,200. The store will carry fresh and organic produce, meats, fish, deli products and general grocery items. The deli will seat 20-24 people.” Purchase of the 11-room Battenkill Inn and 6.7 acres in Sunderland by Samual J. Sassano, Thomas W. Mosher & Samuel Thomas Inn., Inc. VEDA approved $414,000 toward the $1 million project, also being financed by the Chittenden Bank.” Purchase of the Matterhorn Inn in West Dover by Joseph and Wanda Kruszewski. The property, which has been closed for some time, is located on Route 100, consists of 31 units located on 4 acres of land. The $709,000 project, to which VEDA is lending $219,000, is also being financed by Ledyard Bank. It is expected that 4 full-time equivalent positions will be created initially, with projections calling for that number to double with two years.” Ellis and Boxer, LLC of Springfield were approved for $183,000 in SBA 504 financing to purchase a 5,500 square foot building to house their law firm, which employs 19 people. Chittenden Bank is also participating in the project. In the Vermont Agricultural Credit Corporation (VACC) portion of the meeting, the VEDA Board approved the following farm ownership and operations loans:” $248,000 to Tomas and Mary Machia of St. Albans to purchase 12.9 acres, a house, barn and outbuildings — part of a larger farm located on Lake Street which the Machias have been renting for 17 years. Peoples Trust Company and the Farm Service Agency (FSA) are also participating in the $423,000 project.” $149,500 to Keith and Cindy Tifft of Orwell to purchase a 64-acre farm and buildings located on the Sawmill Road, a portion of which they now rent to operate their goat dairy farm. The Tiffts operate the largest goat dairy in Vermont, with 400 milking goats on the farm. ” $84,700 to Fillmore Farms in Bennington for the purchase of 28 cows, and to provide working capital.” $60,500 to David and Cynthia Renninger of Benson for the purchase of 25 cows, and to provide working capital. VEDAs mission is to promote economic prosperity in Vermont by providing financial assistance to eligible businesses, including manufacturing, agricultural and travel and tourism enterprises. In its 30-year history, VEDA has made financing commitments totaling over $1 billion.last_img read more

Southern Vermont College honored at higher ed conference

first_imgSeveral members of the Southern Vermont College community were named finalists or award recipients for the 2011 Vermont Campus Compact (VCC) Higher Education Conference, as a result of their commitment to service-learning. VCC is a consortium of Vermont’s colleges and universities committed to the civic purposes of higher education. In April, two SVC students, an SVC faculty member and the SVC Provost were honored for their accomplishments at a statewide Recognition Reception and Ceremony at the Capitol Plaza Hotel and Conference Center in Montpelier. Andrea Stoddard of Kerhonkson, N.Y., received the Commitment to Service and Engagement Award for her community involvement. Currently a sophomore majoring in Entrepreneurship and Management at SVC, she is a founding member of MooseCorps, a campus community service club where she provides leadership to the group. She is also Vice President of the Student Government Association and a member of the Student Activities Squad. Kathleen Babcock of Vernon, Conn., received the distinction of finalist for the Madeleine M. Kunin Public Service Award, which distinguishes a remarkable student in Vermont for his or her outstanding public service and civic leadership. In addition to assisting with a Red Cross Blood Drive and participating in SVC’s Alternative Spring Break program, Babcock is a representative to the Board of United Way, which serves the SVC community. Provost Albert DeCiccio was a finalist for the Campus Leadership for Civic Engagement Award, honoring his role in the advancement of a curriculum-based laboratory learning model by promoting interaction among students, faculty, staff and members of the community. Dr. DeCiccio also engineered the development and writing of the successful proposal for SVC to be assigned a place on the Carnegie Community Engagement Classification list. Dr. DeCiccio has been providing the inspired leadership necessary in designing and implementing the world’s first course using genealogical and DNA research strategies developed by cultural critic Dr. Henry Louis Gates.  Professor Eric Drouart of SVC’s McCormick Division of Business was a finalist for the Award for Excellence in Community-Based Teaching, which recognizes innovative teaching and curriculum employing service-learning or community-based research that develops student voice, civic agency, and critical thinking, using real-life application and relevance. Most recent projects have been conducted for the Bennington Museum and the Bennington Center for the Arts. Professor Drouart also holds Small Business and Entrepreneurship Forums to coincide with National Entrepreneurship Week, which provides workshops on topics such as business creation, franchising and using social media to attract customers. As a community partner of SVC, the Pownal Elementary School received the Engaged Community Partner Award. The award is given to a community member (individual or community) per VCC member in recognition of their support of their partnering campus’ civic mission. In partnership with SVC’s Quest for Success service-learning course, Pownal school’s Paw Pals Program matches SVC student mentors with at-risk, elementary school children. Through the Program, SVC student mentors share in activity-centered learning, one-on-one tutoring, social-emotional guidance and athletic development. Founded in 1926, Southern Vermont College offers a career-enhancing, liberal arts education with 21 academic degree programs for more than 500 students. SVC recognizes the importance of educating students for the workplace of the twenty-first century and for lives as successful leaders in their communities. SVC’s athletic teams are part of the National Collegiate Athletic Association (NCAA) Division III and the New England intercollegiate Collegiate Conference (NECC). The College is accredited by New England Association of Schools and Colleges and has been designated by the Carnegie Foundation for the Advancement of Teaching as a Community-Engagement Classification institution.last_img read more

New York PSC Blocks Plan to Refuel Coal-Fired Cayuga Plant

first_img FacebookTwitterLinkedInEmailPrint分享David Giambusso for Politico:The Cayuga power plant near Ithaca, one of the few remaining coal plants in the state, will not get the approval or the $102 million needed to refuel and keep it viable, the state Public Service Commission ruled Tuesday. Instead, the state approved a proposal from New York State Electric & Gas and National Grid to upgrade transmission lines in the area, which the utilities have long argued was a better and more economic option to maintain reliability for the region.Until recently, the Gov. Andrew Cuomo’s administration was unconvinced. In a curious political posture for a governor whose rhetoric on energy is focused on renewable, clean power, his quest to keep the Dunkirk coal plant in Western New York open and his ambivalence on Cayuga brought him into direct conflict with the environmental lobby that has exercised unrelenting pressure on him.The PSC ruled on three orders as part of its decision: one was to not fund Cayuga’s repowering, another was to approve the transmission upgrades, and the third was to approve the plant’s sale to Riesling Power, a Maryland-based energy company. Cuomo’s position was complicated by the need to balance jobs and property tax revenue the plants brought to a struggling region against his promises to clean up New York’s energy supply. Riesling is now negotiating a deal to purchase both the Cayuga plant near Ithaca and a large coal plant in Somerset. Riesling has promised to keep staffing at current levels, though with Tuesday’s decision, it is unclear how long that can be continued, especially since Cuomo has promised to phase out coal in New York by 2020.Cayuga is enjoying a ratepayer funded lifeline through June 30, 2017.For the time being, the state’s decision has saved utility customers roughly $80 million. The new transmission upgrades will cost $23.3 million; refueling would have run nearly five times that amount, or about $102 million, according to figures provided by the state.“We are very cognizant of the potential local economic effects of retiring power plants,” PSC chairwoman Audrey Zibelman said in a statement after Tuesday’s vote. “However, in this instance, the power plant itself does not solve our reliability concerns. Moreover, when we considered the combined lack of benefit to the power grid with the significantly higher costs of the refueling option, we determined it would simply be unfair to ask NYSEG consumers to shoulder both the transmission and refueling expense.”Full article ($): PSC ruling on Cayuga coal plant a big win for environmental lobby New York PSC Blocks Plan to Refuel Coal-Fired Cayuga Plantlast_img read more

New State Funding Helps Return Two Former Industrial Sites to Productive Use

first_img SHARE Email Facebook Twitter January 31, 2020 Government That Works,  Press Release Governor Tom Wolf announced the approval of new funding to clean up former industrial sites in Blair and Erie counties to prepare them for occupation by businesses and residential properties.“The benefits are two-fold – not only will harmful chemicals be removed from these properties, but the elimination of blight will attract aspiring renters, homeowners, and business owners for many years to come,” said Gov. Wolf.Funded through the commonwealth’s Industrial Sites Reuse Program (ISRP), the two approved projects are as follows:Altoona-Blair County Development Corporation was approved for a $10,200 grant for an environmental assessment of the former Silk Mill Industrial Complex located in Blair County. In 2018, ISRP funds were used for environmental remediation costs. This funding will be used for an assessment to include soil borings, soil sampling, installation of monitoring wells, hazardous material survey, aquifer slug testing, sub-slab vapor sampling, indoor air and ambient air sampling and the development of a remediation plan. Once the site has been remediated, it will allow for development of approximately 100,000-170,000 square feet to support the construction of 42 residential apartments and 19,000 square feet of office/rental space. The project will also complement the redevelopment of the former Bon Secours Hospital Complex that is currently underway.Albion Borough, Erie County was approved for a $63,810 grant for site characterization of an old gas station. ISRP funds will be used for a geophysical and professional survey, soil borings and monitoring wells, well development, groundwater and soil gas sampling, aquifer testing, fate and transport analysis, human health risk assessment, remedial investigation reports, and the development of a cleanup plan. The borough has a prospective buyer who plans to use the property for warehousing and minor parts assembly.“This new funding will bring new opportunities to Blair and Erie counties and will ensure that these sites become safe and valuable properties that improve their communities and bring new appeal to formerly underutilized or unused areas,” said Pennsylvania Department of Community and Economic Development Secretary Dennis Davin.ISRP provides loans and grants for environmental assessments and remediation. The program is designed to foster the cleanup of environmental contamination at industrial sites, thereby bringing blighted land into productive reuse.“Revitalizing former industrial sites provides tremendous benefits for communities, but important testing and remediation must take place to ensure that the sites are environmentally safe,” said Pennsylvania Department of Environmental Protection Secretary Patrick McDonnell. “These funds will allow for this important work to take place so that the sites are ready for redevelopment.”For more information about the Industrial Sites Reuse Program or the DCED, visit the DCED website, and be sure to stay up-to-date with all of our agency news on Facebook, Twitter, and LinkedIn.center_img New State Funding Helps Return Two Former Industrial Sites to Productive Uselast_img read more

Churches to get tougher at AGMs over pay, climate change, gender

first_imgThe Church Investors Group (CIG), representing church organisations with combined assets of around £17bn (€19bn), has told FTSE 350 companies that it will take a harder line at annual general meetings where it considers change in three key areas to be too slow.   It will also encourage other shareholders to refuse to re-elect directors where a company is out of line with best practice.In terms of executive pay, the CIG – which includes the main investing bodies of the Church of England and the Methodist Church – will consider fairness in the workplace, and withhold support for remuneration reports where chief executive pensions are deemed excessive.It will also withdraw support against a remuneration report where pay ratios are not disclosed, or where financial services or pharmaceutical companies do not pay the living wage. In promoting gender diversity, CIG members will now vote against the re-election of nomination committee chairs where fewer than 33% of board directors are women, and it will vote against all directors on the nomination committee if woman make up less than 25% of the board.The third key area is climate change. CIG members will now vote against the re-election of the company chair when a company is considered to be making little progress on transitioning to a low carbon world.Companies will be measured against their scores from the Transition Pathway Initiative, a tool designed to help asset owners better understand and address their exposure to risks and opportunities stemming from climate change.Carlota Garcia-Manas, deputy head of engagement for the Church Commissioners and Church of England Pensions Board, said: “We continue to see climate change as a key issue and encourage other investors to partner with us in ensuring we hold companies accountable to the highest standards and adapting their activities to fit with the Paris Agreement.”The full CIG voting policy is here.Meanwhile, Wellcome Trust – the UK’s largest charity, with assets of £23.2bn at the end of September 2017 – has revealed an above average gender pay gap.The gender gap in its median pay was 20.8% as at April last year. The UK gender gap average is 18%.Wellcome said the gap existed mainly because of the disproportionate balance of men and women at different levels within the organisation. Overall, around 64% of its employees are women, but most of the highest-paid senior roles are held by men.The charity said: “This year we will introduce fairer ways to support the recruitment, progression and retention of women at senior leadership levels. We will improve our diversity data so that we understand better where to target new initiatives, and provide staff training to mitigate bias.”All UK employers with more than 250 staff are required to publish gender pay gap data on the government website by April 2018.last_img read more

New Initiatives Unveiled to Strengthen Singapore as a Global Maritime Hub

first_imgSingapore has announced two new initiatives intended to strengthen the region’s standing as a global maritime hub. The initiatives are aimed at enhancing Singapore’s maritime insurance offering with the Singapore War Risks Insurance Conditions (SWRIC) and developing an interoperability framework for electronic trade documents for the maritime and trade industries.They were presented by Lam Pin Min, Senior Minister of State for Transport and Health, at the Singapore Shipping Association’s (SSA) Annual Lunar New Year Cocktail Reception held on January 22, 2019.Dr Lam Pin Min, Senior Minister of State for Transport and Health, unveiled two initiatives to strengthen Singapore’s standing as a leading global maritime hub at the Singapore Shipping Association’s Annual Lunar Cocktail Reception this evening.#MPA #maritimesg @ssa_office— MPA Singapore (@MPA_Singapore) January 22, 2019As explained, the new SWRIC is an enhancement to the Singapore War Risks Mutual (SWRM), Singapore’s first national war risks insurance facility which was launched in 2015 as part of efforts to develop Singapore as a comprehensive marine insurance hub.Available to members of SSA irrespective of the flag of the ship, and non-members whose ships are registered in Singapore, the cover under SWRM rules includes Protection and Indemnity (P&I) war risks, hull war risks, detention and diversion expenses, sue and labor and discretionary insurance. In a short span of four years since its launch, the SWRM cover has exceeded expectations with close to 800 ships insured.SSA spearheaded a workgroup which prepared the SWRIC, a comprehensive set of insurance conditions which aims to raise the bar on existing war conditions in the marketplace today, by bridging coverage gaps as well as updating and simplifying the existing war conditions available in the market.The SWRIC are also the first insurance conditions to be written from a shipowner’s perspective, addressing important risks that are felt by the global shipping community, according to the association.Moreover, the Maritime and Port Authority of Singapore (MPA) is galvanizing the shipping community and other government agencies to develop inter-operability enablers to further digitalization efforts in the maritime sector and bring about benefits to the wider supply chain ecosystem.This is a step-up to the three-party memorandum of understanding (MOU) that MPA, SSA and Singapore Customs signed at the Sea Transport Industry Transformation Map launched in January 2018 to jointly look into the digitalization of trade and maritime documentation, such as Bills of Lading (BL), in the industry.Since the signing of the MOU in January 2018, the industry has seen progress with successful e-BL trials amongst consortiums led by two shipping lines – one by APL and the other by PIL and IBM. The trials simplify existing processes as well as leverage blockchain technology to bring various trading parties together to support information sharing and transparency, SSA said.To facilitate interoperability of the solutions developed by the various consortiums, the members are to include a new MOU partner, Info-communications Media Development Authority (IMDA), to develop a new interoperability framework.Working together with IMDA, the industry can expect to see different digital ecosystems interoperate with an efficient exchange of electronic trade documents. The work will entail the development of a set of governance and legal frameworks, technical standards and interoperable digital enablers.“The close partnership between the Government, the industry and SSA is a unique competitive advantage for Singapore. We must continue to strengthen this partnership. This will enable Maritime Singapore to stay relevant and competitive,” SMS Lam commented.last_img read more