first_imgTwitter Billy Lee names strong Limerick side to take on Wicklow in crucial Division 3 clash WhatsApp NewsCommunityGarda awards will honour achievements of Limerick youthBy Cian Reinhardt – September 20, 2018 1711 Email Previous articleLeft-field hip-hop and beats at Record Room this FridayNext articleLimerick FC aim to bounce back against Bray Wanderers Cian Reinhardthttp://www.limerickpost.ieJournalist & Digital Media Coordinator. Covering human interest and social issues as well as creating digital content to accompany news stories. [email protected] Advertisement Print Facebook Linkedincenter_img RELATED ARTICLESMORE FROM AUTHOR YOUNG people in Limerick often get bad press and this has prompted local Gardaí to highlight the more positive attributes of young achievers throughout the city and county.The Limerick Garda division has launched it’s annual awards to acknowledge the achievements of young people who are making a difference in their own lives and in their communities.Limerick Gardaí in association with Garveys Supervalu, Corbally and Centra, Newcastle West have announced the fifth Annual Limerick Garda Youth Awards for 2018.Sign up for the weekly Limerick Post newsletter Sign Up The awards are designed to acknowledge the volunteering activities of young people living in the Limerick Garda Division between the ages of 13 years and 21 years. They also acknowledge the endeavours of young people who have faced and overcome challenges in their lives.Awards will be considered for nominated young people who by their presence, activity and contribution make their communities a better place to live in.There will be eight award winners this year with at least one winner from each of the four districts within the division.Since the first awards ceremony in 2014 there have been 33 overall winners out of nearly 300 nominations.Every person nominated will receive a certificate of nomination while the overall winners will be presented with their awards at a function in the Woodlands House Hotel, Adare on Thursday, November 29.This year there is an added dimension to the awards in that the first National Garda Youth Awards will take place in the Templemore Garda College next April when local award winners will be in the running to qualify for the national finals.Anyone can nominate a young person between the age of 13 and 21 years who is involved in any type of community activity, is helping in a voluntary capacity or who has done something extraordinary.Any person, relation, friend or organisation can send in a nomination.Nomination forms with rules of the award scheme are available from the Juvenile Liaison Office Mayorstone Garda Station Limerick at 061 456986, any Garda Station in Limerick City or county or on the Garda website Garda.ie. Predictions on the future of learning discussed at Limerick Lifelong Learning Festival Limerick’s National Camogie League double header to be streamed live WATCH: “Everyone is fighting so hard to get on” – Pat Ryan on competitive camogie squads Limerick Ladies National Football League opener to be streamed live TAGSCommunityGardalimerickyouth Donal Ryan names Limerick Ladies Football team for League openerlast_img read more


first_imgYANGON, Myanmar (AP) — Hundreds of members of Myanmar’s deposed ruling party have declared themselves to be the sole legitimate representatives of the people and asked for international recognition as the country’s government. Protests against the military takeover also swelled Friday. Nearly 300 politicians from ousted leader Aung San Suu Kyi’s party announced they had named a committee to carry out the functions of Parliament, according to a party Facebook. In a letter to the United Nations and the international community, the party also asked for targeted sanctions and for businesses to cut ties with the military. The lawmakers had been set to take their seats Monday in a new session of Parliament, when the military announced it was taking over for a year.last_img


first_imgWith New York State giving the go ahead, he’s ready for some boozy new desserts, like a possible Jack Daniels and Coke float. “I think the variety in our our shop is certainly soemthing our customers are interested in,” Vail said. “If this is something they want, then we will offer it.” Outside of the float, Vail said he’s been experimenting with some wine when it comes to flavor creation, and is open to teaming up with wineries and breweries in the area. On Monday, Governor Andrew Cuomo signed new legislation which now allows vendors to sell ice cream and frozen treats made with alcohol. Owner Fritz Vail said he’s been to seminars, and has heard from colleagues in the cold treat industry about consumer demand. And while there may be some restrictions on how much alcohol, Sugar Lips is ready to get creative. JOHNSON CITY (WBNG) — Ice cream is usually a sweet treat for all ages. But soon, Sugar Lips could be offering a tasty concoction for adults only. However, Vail emphasized that even before news of the frozen beverages came out, Sugar Lips’s creativity was attracting locals. “We would love to work with some wineries and craft beer distributors and see what we can do,” he saidlast_img read more


first_imgAlongside Ivascyn’s promotion to CIO, the firm announced a slight restructure to its investment board, which was initially arranged after the departure of Gross’s heir-apparent and then chief executive Mohammed El-Erian.In a turbulent year for PIMCO, El-Erian unexpectedly left the firm in January, without reason, leading to a reshuffle at the top with Gross remaining as CIO but supported by several deputies to mitigate what the firm described as “key-man risk”.Since El-Erian’s departure, the firm and Gross’s flagship Total Return Fund suffered significant outflows.Now that Gross has the left the firm he founded in 1971, Andrew Balls is now global CIO, Mark Kiesel CIO of global credit, Virginie Maisonneuve CIO of equities, Scott Mather CIO of US core strategies and Mihir Worah CIO of real return and asset allocation.Douglas Hodge and Lew Jacobs remain as chief executive and president, respectively.Mather, Kiesel and Worah will now be portfolio managers for Gross’s former Total Return Fund, where he managed more than $200bn (€158bn) in assets.Saumul Parikh and Mohsen Fahmi join Ivascyn as managers for the Unconstrained Bond Fund.PIMCO said all changes were effective immediately as Gross begins his new role with Janus later today.Chief executive Hodge said the succession plan has been in development for some time to help create a seamless transition in the portfolio management team, and they are a continuation of the plan set out after El-Erian’s departure.“We have passed the torch of leadership to a team of investors who are among the very best in the investment management industry,” he said.“[The appointments] reflect our long-held belief that the best approach for PIMCO’s clients and our firm is to evolve our investment leadership structure to a team of seasoned, highly skilled investors overseeing all areas of PIMCO’s investment activities.”Gross sold PIMCO to the Allianz Group in 2000.Chief executive of the German insurer, Michael Diekmann, wished Gross the best of luck and affirmed its commitment to PIMCO’s leadership team.“We join our PIMCO colleagues in recognising Bill Gross for his accomplishments over the 43 years since PIMCO’s founding” he said.“The management and investment structure put in place in January, as well as the thorough succession planning, gives us complete confidence in PIMCO’s investment and executive leadership team.”Gross will start at Janus today and then take the reins of the recently launched Janus Global Unconstrained Bond Fund and its related offshore fund, to be launched soon.Based in a new Janus office to be set up in Newport Beach, California, Gross will be responsible for the company’s global macro fixed income strategies.This will be separate but complementary to Janus’s existing credit-based fixed income platform, which has been built up under Gibson Smith, the company’s fixed income CIO. PIMCO, the US bond house, has moved quickly to quash market concerns after replacing outgoing CIO Bill Gross with Daniel Ivascyn.Gross announced last week he was leaving PIMCO to join rival California-based asset manager Janus Capital Management, starting today, and leading an unconstrained bond portfolio next week.Market reaction was severe as the share price of PIMCO’s German parent, Allianz, plummeted, knocking billions off the insurance giant’s value.In reverse, the share price for Janus Capital Management soared by 30% as investors anticipated Gross’s move would lead to significant inflows for the asset manager.last_img read more


first_imgSo how many new harsh environment rigs does the world need?If demand for new and efficient rigs in harsh environment areas rises and if oil companies’ preferences for new rigs continues – both of which we believe to be true – the market will need more rigs.After contract awards to the Deepsea Nordkapp and West Mira, there are still six newbuild rigs which could potentially work in Norway, the United Kingdom, and Canada.But at least another six rigs will become non-competitive by 2020 in addition to the 15 which are already considered to be out of the competitive drilling market. So the market will absorb the current newbuilds without affecting real supply.While supply stagnates, we estimate that Norway, the UK, and Canada will hit 43 rigs, up by ten from around 33 (plus two committed) rigs today and leading to a shortfall of five rigs. To maintain 85% utilization, we would need a further eight rigs on top of that.So up to 13 newbuilds could enter the market over the next three years (in addition to the six existing and uncontracted newbuilds) and we’d still have 85% utilization.Oil companies, who’ve proudly touted their offshore drilling cost-cutting efforts in the North Sea, may be about to discover that costs are going up again. Without more harsh environment semisubs, oil companies will experience a major cost disruption if utilization reaches above-normal levels.In the meantime, as more longer-term contract requirements materialize and newer rigs continue to be preferred for efficiency reasons, dayrates will more toward $400,000 for longer programs.Offshore Energy Today has shared the article above with permission from the author. You can read the original post at Bassoe.noThe views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of Offshore Energy Today. Norway has nearly closed the door on old rigs, the UK to followBassoe Analytics shows that virtually all working semisubs in Norway are committed through 2019. There are gaps here and there, but contract extensions and new awards are likely to keep these rigs working well into the next decade.If you look at the age of the 15 rigs working in the country, only two were built before 2000.The Transocean Arctic and the Deepsea Bergen, built in the 1980s, are committed at least up until 2020, but, apart from these, the rest of the earlier generation rigs are cold stacked and unlikely to return to service in Norway other than for plug and abandonment or workover projects.Modern rigs are clearly preferred today, and that trend will continue. Equinor, already with some of the highest environmental and efficiency standards, says that their policies will only become more stringent as they remain steadfast in using the most sustainable and effective rigs in the fleet.The United Kingdom has 13 semisubs on contract, and ten of them were built before 2000. There’s a limit for how long this situation can last.Over the next few years, we expect the market in the UK to develop in much of the same way that Norway has. Older rigs, as they roll off contract and near their special survey due dates, will one by one become relegated to low-tech work or sent to scrapyards. New-rig availability is low, reactivation and upgrades of older rigs unlikelyLooking at the fleet of new available rigs, there isn’t much to offer. Three rigs have future commitments (including newbuilds West Mira and Deepsea Nordkapp). That leaves ten new or under construction semisubs to fill the coming gap in supply of rigs as older ones are phased out.And as eight of the ten available new rigs are Norway-compliant (and able to command higher dayrates), the momentum in dayrates for harsh environment rigs will build.You could argue that the future rig supply gap could entice owners to attempt to reactivate and upgrade their old rigs. The Stena Don, for example, will undergo extensive upgrade work at Damen Verolme this year, but it was delivered in 2001 and is a far more logical upgrade candidate than those built in the 1980s (which account for most of the supply of old rigs).At the same time, Ocean Rig announced earlier this year their intention to raise equity to reactivate the Eirik Raude (built in 2002) for over $100 million. This deal failed, and it was likely investors’ reluctance to put high-risk money into an old rig that killed it.center_img Transocean Barents; Photo by: Fiver; Source: Wikimedia – under the CC BY-SA 4.0 license (The image is cropped)By: David Carter Shinn, Bassoe OffshoreThere just aren’t enough new rigs to meet long-term drilling requirements in the North Sea and Canada. More newbuilds are coming.Harsh environment semisub dayrates hit their lowest point in recent history about two years ago, but they’ve been creeping up ever since.While better planning, prudent project cost management, and general organizational and technical efficiencies have allowed oil companies to save big money exploring and developing North Sea fields, most of the savings has come from being able to contract cheap offshore drilling rigs.Rigs were cheap not only because of a high availability rate, but also because oil companies sanctioned shorter drilling projects – rig owners normally don’t lock their rigs in at low rates for long-term contracts.Out of 24 semisub contract fixtures in 2018, only one (the Deepsea Nordkapp’s two-year contract with Aker BP at $325,000 per day) has a duration of two years or more. Average new-contract durations in 2018 are running at just over 200 days.Now, the need for new investments and longer drilling projects is expected to pressure oil companies into contracting rigs for multi-year programs. And these programs will require new, efficient rigs, with energy-saving features to lower carbon emissions.The problem is that, as things stand today, there won’t be enough of these rigs around.This impending lack of new rig supply is what’s driving owners like Awilco to build new, specialized semisubs for midwater operations in the North Sea. Other rig owners are likely to follow with newbuild orders over the next six months, but will enough of them be built?last_img read more