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Tanker Rates Surge after Bahri’s Surprising Charters

first_imgSaudi Arabia’s decision to flood the oil markets with up to 12.3 million b/d of crude oil, followed by reports of Bahri’s rare move to charter up to 19 supertankers, has sent daily freight rates for Very Large Crude Carriers (VLCC) skyrocketing.According to reports from Reuters, Saudi’s national shipping firm Bahri has provisionally chartered up to 19 very large crude carriers, six of them believed to be earmarked to ship crude to the United States.The action came on the back of Saudi Aramco announcing steep discounts to its official selling price for April, igniting a price war among major global producers.The discounts were announced after OPEC’s proposal to cut production of oil by 1.5 million barrels per day failed to secure support from Russia amid fears the production decrease would solely aid North American shale producers.The latest fixtures data from Tankers International show at least nine fixtures arranged by Bahri Oil Transportation for modern tankers over the past two days averaging at USD 70K per day.The fixtures further indicate that VLCCs are being hired for up to USD 299,900 per day as charterers scramble to secure floating storage for excess crude. Namely, the 2012-built Maran Antares, managed by Maran Tankers secured almost 300K per day from its charterer PTT from Thailand.This is a major shift from the daily rates that averaged at USD 30,000 just a few days ago. The surge is reminiscent of VLCC rates jumping following OFAC’s sanctions on COSCO Dalian, removing a considerable portion of tankers from the market.Hence, VLCC rates jumped to over 100,000 per day, before falling back again in February to around USD 25K on average once the company was whitelisted again.World Maritime News Stafflast_img read more

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Coates: Jones deal ‘sensible’ move

first_img Press Association That resulted in the 29-year-old Trinidad and Tobago international being fined two weeks’ wages and meant he was not considered for selection in Stoke’s next match, against Crystal Palace. But on the issue of whether Jones is actually profiting from his action, Coates, quoted by The Sentinel, said: “That’s not the case. “The fact is he could have gone at the end of the season because he is out of contract, but this deal looked like a sensible opportunity for us. “I wouldn’t like to think there was any circumstance where a player would think he can get his way by not playing for any football club.” Stoke chairman Peter Coates insists Kenwyne Jones is not simply “getting his way” with regard to a move after refusing to play for the club.center_img The Potters announced on Saturday that they had reached an agreement with Cardiff over a deal for Bluebirds striker Peter Odemwingie which is set to see fellow frontman Jones head to south Wales in a player-exchange transfer. Jones had not been involved in either of Stoke’s two games prior to that, with him having sent a text message to manager Mark Hughes the night before the clash with Liverpool on January 12 to say he was unavailable for the fixture. last_img read more

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India U-19s clinch tri-nation tournament

first_imgINDIA cruised home in the final of the tri-nation Under-19s tournament in Hove, with eight balls to spare, a win set up by their top order comprising Yashasvi Jaiswal, Divyaansh Saxena, and Priyam Garg, who all struck fifties chasing 262.Openers Jaiswal and Saxena made 50 and 55 respectively, stitching together a 104-run stand in 22 overs that laid the platform for captain Garg to capitalise on with a 66-ball 73.(Scores: india Under-19s 264 for 4 (Garg 73, Jurel 59*, Saxena 55, Jaiswal 50, Rakibul 2-55) beat Bangladesh Under-19s 261 (Joy 109, Emon 60, Mishra 2-33, Tyagi 2-49) by six wicketsAfter the opening pair fell within three overs of each other – both to left-arm spinner Rakibul Hasan – and No. 4 batsman Pragnesh Durgesh Kanpillewar departed for 2, Garg took charge of the chase, hitting four fours and two sixes en route to his second successive half-century.Garg top scored for his side and was ably assisted by wicketkeeper Dhruv Jurel, who chipped in with a 73-ball 59 not-out, adding 109 runs for the fourth wicket with his captain. Garg departed with India U-19s only 27 shy of victory, leaving Jurel to shepherd their side to the target in the company of Tilak Varma, who sealed the chase with a four.Bangladesh Under-19s put up 261 after opting to bat, the bulk of the run-scoring done by first-drop batsman Mahmudul Hasan Joy and opener Parvez Hossain Emon. Emon was involved in two fifty stands to take his side past 120, before falling to left-arm pacer Sushant Mishra for a 64-ball 60 in the 23rd over.Mishra also took out Towhid Hridoy – for a duck – in the same over and not long after Bangladesh U-19s lost another pair in quick succession as Shahadat Hossain and captain Akbar Ali departed for single-digit scores in the 32nd and 33rd overs respectively.Much of the repair job thereafter was shouldered by Joy who made 109 off 134 balls – studded with nine fours and a six – before falling off the final delivery of the innings. Shamim Hossain’s 32 at No. 7 was the only other noteworthy contribution from the Bangladesh U-19s line-up, while Mishra and right-arm pacer Kartik Tyagi’s figures stood out among the India attack, both taking two wickets apiece. (ESPN Cricinfo)last_img read more

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Feds looking at former USC star, AD Pat Haden in college admissions scandal, report says

first_imgFederal investigators are looking into any alleged involvement Pat Haden, former Southern California athletics director and star quarterback, had in the national college admissions scandal, according to The Wall Street Journal.Investigators are questioning ties Haden had with William Singer, who was the alleged organizer of a cheating scheme that altered test scores that helped students get into universities. Athletic officials were accused of collecting hundreds of thousands of dollars to help students get into schools like USC, Stanford, UCLA, Georgetown and Wake Forest, disguising them as recruits.  North Carolina coach Mack Brown has knee surgery done by former player The WSJ noted, citing an unidentified source, that Haden introduced Singer to former USC senior associate athletics director Donna Heinel and said Singer would be “someone Ms. Heinel should work with” because of his connections.In response to the report, USC released a statement (via USA Today) acknowledging the school is still conducting an internal investigation and it “will continue to cooperate fully with all law enforcement and regulatory investigations. Ensuring the integrity of the admissions process remains a top priority of university leadership.”According to court documents released in March, the scheme centered around a California-based non-profit called the Key Worldwide Foundation (KWF) founded by Singer. Vikings COO Kevin Warren becomes Big Ten’s first African American commissioner Officials said parents, including several celebrities such as actresses Felicity Huffman and Lori Loughlin, paid Singer “approximately $25 million” from 2011 to February 2019 “to bribe coaches and university administrators to designate their children as recruited athletes, or other favored admissions categories, in violation of the duty of honest services the coaches and administrators owed to their employers, thereby facilitating the children’s admission to the universities.” Singer has pleaded guilty to racketeering conspiracy, money laundering conspiracy, conspiracy to defraud and obstruction of justice.After news of the scandal broke, USC parted ways with four members of its athletics department: Heinel, women’s soccer coaches Ali Khosroshahin and Laura Janke, and men’s and women’s water polo coach Jovan Vavic. Haden hasn’t been charged for any part of the scandal and just recently become a person of interest in the case, the WSJ reported. Haden wrote in a statement provided to the Journal through his son-in-law: “Like many people, I was introduced to Mr. Singer several years ago by a friend. I was unaware of his illegal activities and had no ongoing relationship with him whatsoever.” Related News SEC will allow stadiums, arenas to sell alcohol beginning this seasonlast_img read more

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