Oil tanker company Frontline reported a net income of USD 2.2 million for the third quarter of 2018, bouncing back from a loss of USD 22.9 million in the previous quarter and USD 34.3 million loss from last year.Frontline added that during the quarter net loss attributable to the company adjusted for certain non-cash items was USD 8.4 million.According to Robert Hvide Macleod, Chief Executive Officer of Frontline Management AS, tanker markets are beginning to rebalance following 18 months of extremely challenging conditions.“We are optimistic that the market has now exited the cycle trough. Oil inventory draws, fleet growth and production cuts have been against us, but these important factors are now turning in our favor. The most important factor, oil demand, remains strong,” he said.“We have a large fleet of modern and fuel-efficient vessels, with an average age of 4.1 years and our cash breakeven levels are among the most competitive in the industry. We expects that our positioning for IMO 2020, with our equity investment in FMSI and the planned installation of scrubbers on a number of our vessels, will result in a significant increase in cash generation should our market view unfold.”According to Frontline, although there is current talk of OPEC cutting back on production, volumes are expected to remain healthy heading in to 2019. Another factor positively impacting tankers are rising U.S. oil export volumes, which are generally long-haul trades, boosting ton-mile demand.“Sanctions on crude oil imports from Iran, notwithstanding any short-term waivers, have the potential to create significant dislocation in the crude oil markets, leading to periods of strong volatility as the market adapts to new trading patterns. We have already seen imports of Iranian crude oil into India and China decrease and replaced with crude from other markets,” Frontline said.With regard to supply-demand balance, the net effect is expected to be zero regarding the VLCC fleet growth in 2018.For the next year, the company expects vessel recycling to continue, despite the stronger spot market, but at a slower pace than seen in 2018.64 VLCCs are scheduled for delivery in 2019, and the current VLCC order book equals approximately 14.5% of the global VLCC fleet. The tanker company believes that the seemingly large figure is counter-balanced by approximately 20% of the existing global VLCC fleet which is in excess of 15 years of age, making them likely candidates for scrapping.
Former Kootenay Wildcats sniper Daley Oddy scored once as Team B.C. shocked Alberta 2-1 at the National Women’s Under-18 Championship in in Saguenay, Que.The win was the first for Team B.C. in years at the in Under-18 tournament.After Cassidy Hendricks (North Vancouver, B.C.) stoned Team Alberta during the opening frame, Oddy gave B.C. a 1-0 advantage five minutes into the second frame.Stephanie Schaupmeyer (Kelowna, B.C.) made it 2-0 late in the period.The lead held up until the final minutes of the game when Alberta cut the B.C. lead to a single goal by Eden Murray (Medicine Hat, Alta.)Aimee DiBella of Nelson and goalie Kimberley Newell, who plays for the Kootenay Ice of the B.C. Major Midget Hockey League, are also on Team B.C.DiBella is a member of the Okanagan Hockey Academy.Team B.C. faces another tough opponent as defending gold medallists Ontario Red takes to the ice at 2 p.m. PDT.Alberta plays again at 7 am. PDT against Manitoba.Ontario Red, tied with Team B.C. for the Group A division lead, opened the tournament by dumping Manitoba 8-2.Catch all the action live at www.hockeycanada.fasthockey.com
The Nelson Leafs are making believers out of the few fans that picked them to win against Beaver Valley in the Kootenay International Junior Hockey League playoff pool.J.J. Beitel’s goal 6:20 into overtime sparked the Leafs 2-1 Murdoch Division Semi Final victory before 550-plus fans Monday night at the NDCC Arena.The Leafs, losers of seven straight to conclude the regular season, now lead the best-of-seven KIJHL playoff series 2-1 with game four set for Tuesday right back in Nelson.“Linden (Horswill) came down curled back, made a nice pass I just shot it on net hoping maybe (Connor Gross) Grosser could deflect it,” Beitel said after being mobbed following the OT winner by his Leaf teammates at center ice.“I definitely wasn’t expecting anything to come of it or the puck to go in.”Beitel’s shot from the point somehow squeaked through the pads of Hawks netminder Jarrod Schamerhorn, who up until that point in the game had been almost unbeatable between the pipes.“(Schamerhorn) is a big guy,” Beitel added. “He’s good down low and kicks out those rebounds out front so we’ve got to just keep shooting and maybe something will go in.”After a scoreless first period Beaver Valley took a 1-0 when Dallas Calvin drilled a cross-ice saucer pass past Nelson goalie Brett Soles.The goal by the Hawks leading scorer appeared to be all the visitors would need with Schamerhorn in net.But a smart play by Leaf defenceman Kyler Wilkinson found Colton Schell beside the Beaver Valley net and the Leaf captain buried a high shot past Schamerhorn to tie the game midway through the third period.“It’s disappointing to lose because we had just some terrific effort from players tonight,” Hawks head coach Terry Jones lamented.“Unfortunately you can’t take shifts off and that’s what happened (in the overtime).”Nelson out shot the Hawks in the game 35-22, including an 11-4 margin in the third to make a winner out of Soles.Special teams took the night off for both teams as Nelson went 0-for-4 on the power play while Beaver Valley was scoreless in three attempts.“I expected this to be a long series,” Jones said when asked after beating the Leafs the last four games of the regular season would the Hawks in in a walk. “Especially if we gave them a little bit of light, which we did in that first game (won 6-1 by Nelson).“I thought we played pretty well tonight but (Nelson) made a great play to tie it up and another great play to score the winner so I give them full marks for the win tonight.”Start of game delayedThe start of Monday’s game in Nelson was delayed 25 minutes after one of the Hawks players shattered the glass with a puck during warm up.NDCC rink attendants worked quickly to insert the new glass at the north end of the arena.Leafs lose Nickel to injuryNelson forward Greg Nickel was helped from the ice after colliding heavily with the boards while chasing down the puck in the Beaver Valley end.The Williams Lake native was seen leaving the rink using crutches.A few of the Hawks, including forward Dan Hollands, also let the ice after blocking shots. But all the Beaver Valley players returned to finish the game.Braves rally to knock off Rebels in overtimeAfter out scoring the Spokane Braves 18-1 in the first two games of the Murdoch Semi Final, the Castlegar Rebels offence took the night off.The result allowed the Braves to steal a 2-1 overtime victory Monday in Spokane to pull to within one game in the best-of-seven series.Dylan Tappe scored on the power play with 38 seconds remaining in the first overtime period to give the Braves life in the series.Castlegar entered the game unbeated in 10 games dating back to the regular season.Game four goes Tuesday in Spokane.Coleman Macdonald for Spokane and Jamie Vlanich for Castlegar scored in the second period.Matt Zenzola stopped 50 of 51 shots to register the win in goal.
The golf season may be in the rearview mirror, but before the weather turned frightful players took to Granite Pointe to participate in the City of Nelson Tournament.The tournament was a fundraiser for the Angelo Mastorbuno Bursary, handed out yearly to a student at L.V. Rogers High School in Nelson.Mallard’s Source for sports would like to salute the players, and the organizing commmittee with Team of the Week honours. The tournament was a hit with the players and goes onto honouring the City of Nelson worker.
Edwin Maldonado4382419%33%$236,030 Santiago Gonzalez711610523%44%$576,330 Philip D’Amato3367918%67%$396,540 Jeff Bonde1132027%45%$81,660 Ty Kennedy191325%32%$66,780 Agapito Delgadillo1822211%33%$65,284 Gonzalo Nicolas141207%21%$34,590 FINISH LINES: Santa Anita will honor Paddock Captain John Shear in the Winner’s Circle after the fourth race Sunday on the occasion of his 95th birthday . . . Fans can feast on the cheap this Monday, Martin Luther King Jr. Day, when Santa Anita offers another of its Dollar Days, with draft beers, hot dogs and sodas on sale for just a buck. Santa Anita will be dark Tuesday, Wednesday and Thursday. Live racing resumes Friday, Jan. 22, at 1 p.m. . . . As a thank you to fans, Santa Anita offers FREE General Admission and FREE general parking every Thursday and Friday during the Winter Meet . . . Probable for next Saturday’s Grade II, $200,000 Santa Monica Stakes for older fillies and mares at seven furlongs: Ben’s Duchess, Joe Talamo; Kiss at Midnight, no rider; Living The Life, Flavien Prat; Prize Exhibit, Santiago Gonzalez; and Sunday Rules, Mike Smith. Trainer Peter Eurton said he is considering two races for Kyriaki, the Santa Monica and the $400,000 Houston Ladies Classic at Sam Houston at 1 1/16 miles on Jan. 30 . . . Popular former world featherweight champion Danny (Little Red) Lopez, his wife, Bonnie, and sister-in-law Murphy were Santa Anita press box visitors Saturday . . . With two wins yesterday, Santiago Gonzalez overtook Rafael Bejarano for the riding lead, 16-15, through 13 racing days. The 32-year-old Venezuelan also is making his presence felt nationally, ranking eighth in purse earnings through Jan. 13 with $343,700. Bejarano was fifth in that category with $436,720. Among trainers, Richard Baltas, tied with Bob Baffert at Santa Anita with seven victories, was third nationally in money won at $301,940, while Baffert was fourth at $289,680. Vladimir Cerin721229%71%$70,850 TrainerSts1st2nd3rdWin%ITM%Money Won Brice Blanc131048%38%$148,490 Peter Eurton1946321%68%$154,830 J. Keith Desormeaux1520413%40%$51,360 Martin Garcia3454715%47%$327,014 ROTHBLUM MINDING THE FORT FOR TEAM O’NEILLWhile Doug O’Neill and his entourage were in Florida today awaiting the formality of Nyquist being named champion two-year-old male of 2015 at the Eclipse Awards, team member Steve Rothblum was minding the store at Santa Anita, where O’Neill had three horses entered.“We work our butts off,” Rothblum said, offering a condensed version of the reason for their success. “We get together and get a ton of stuff done, but at the end of the day, if we’re not smiling about it, we just feel like it’s been wrong.“We have a saying, ‘Everyone’s welcome but no one’s safe,’ because we give each other hell. But everybody knows what we need to do and what’s expected of them. The credit has to go to Doug, because he’s open enough to listen to all of us. We put together a good team, because every member is pretty good at what they do.“Doug listens to us, but he’s good at what he does, too. He delegates authority and he never panics. We’ve been together so long, we have a lot of trust in each other and that’s really important. We all represent the brand, we all care about it and try to move forward every day.“I’ve trained on my own for 30 years and have been with Doug since 2007 and couldn’t be happier or ask for a better work situation.” Jeff Mullins831038%50%$77,530 William Spawr1152045%64%$120,874 Mike Smith2742215%30%$386,640 Barry Abrams821025%38%$94,260 Jerry Hollendorfer362556%33%$174,792 Steven Miyadi1534220%60%$99,266 DORTMUND AND EXAGGERATOR IN SOLID WORKS‘TEAM’ KEY WORD IN SUCCESS OF TEAM O’NEILLDOLLAR DAY AGAIN AT SANTA ANITA ON MONDAY Drayden Van Dyke2832211%25%$140,200 JockeyMts1st2nd3rdWin%ITM%Money Won Victor Espinoza242318%25%$242,130 Kent Desormeaux3136510%45%$282,970 Peter Miller3552114%23%$176,380 Tiago Pereira251514%28%$118,602 David Lopez40721018%48%$233,328 George Papaprodromou1320215%31%$48,080 Abel Lezcano1821111%22%$86,570 Kristin Mulhall1342131%54%$150,100 John Sadler2122210%29%$102,750 James M. Cassidy1420214%29%$154,420 Patrick Gallagher1031130%50%$206,684 Alex Solis720229%57%$114,384 Richard Baltas2774226%48%$427,730 Jack Carava921022%33%$40,420 (Current Through Friday, Jan. 15) Doug O’Neill5047108%42%$244,882 Steve Knapp920122%33%$48,630 Flavien Prat3953813%41%$272,522 Fernando Perez4944118%39%$233,696 Gary Stevens1631019%25%$360,080 Bob Baffert3073523%50%$405,760 Mark Glatt2131114%24%$88,360 Jose Verenzuela811113%38%$20,930 Rafael Bejarano631514424%52%$749,060 Alonso Quinonez2235114%41%$130,250 Brayan Pena710014%14%$17,120 Karen Headley430075%75%$127,450 EXAGGERATOR IN ‘GREAT’ BREEZE FOR SAN VICENTESanta Anita Derby winner Dortmund and Delta Jackpot winner Exaggerator worked on Santa Anita’s fast main track Saturday morning in preparation for upcoming stakes engagements at The Great Race Place.Dortmund, ticketed for the $1 million Santa Anita Handicap on March 12, went four furlongs under regular rider Martin Garcia in a bullet 47 seconds flat for Bob Baffert, who is in Florida awaiting the coronation of Triple Crown king American Pharoah later today.Exaggerator, set to make his three-year-old debut in the Grade II San Vicente Stakes at seven furlongs on Feb. 15, went six furlongs according to Santa Anita clockers in 1:13.80 for trainer Keith Desormeaux.“It was a great work,” said Keith, who gave his brother, Hall of Fame rider Kent, a leg up for the drill. “I clocked him faster than what’s on the tab, however, I got him in 1:12 1/5.” Tyler Baze63410106%38%$275,668 Martin Pedroza3032110%20%$62,970 Mario Gutierrez5569511%36%$325,904 SANTA ANITA STATISTICS Joseph Talamo5288415%38%$364,190 Jorge Gutierrez420050%50%$32,410 -30-