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first_imgGreek containership owner Danaos Corporation has decided to install scrubbers on six vessels and is looking to equip a further five ships with these systems.Danaos said it has committed to installing exhaust cleaning systems on six boxships of which two are owned by the company’s joint venture Gemini Shipholding Corporation.“These vessels have been chartered out for periods of at least three years in duration and since these are all vessels that are currently on short term charters, these transactions significantly improve income visibility,” John Coustas, Danaos’ CEO, commented.In addition, Danaos unveiled it is currently in discussions to install scrubbers on five more containerships.“Danaos has been actively focused on positioning our fleet ahead of the implementation of the new regulations,” Coustas said.The scrubber project has been unveiled in the company’s financial report which shows that Danaos posted a net income of USD 148 million in the first nine months of this year, compared to USD 61.1 million seen in the corresponding period a year earlier.Operating revenues rose to USD 343.1 million during the nine-month period of 2018 from USD 337.6 million recorded in the first three quarters of 2017.In August, Danaos managed to cut its debt by approximately USD 551 million as it consummated the agreement with certain of its lenders to refinance approximately USD 2.2 billion of the debt maturing on December 31, 2018.“Danaos completed a very significant refinancing transaction in the 3rd quarter of 2018 that reduced our debt by USD 551 million, reset financial covenants and extended debt maturities to the end of 2023 on the back of a sustainable new amortization profile. This transaction has strengthened the company’s growth prospects over the next five years by removing all balloon payments and maturities of existing debt during that period,” Coustas explained.Coustas further said that the charter market has remained consistently soft in the past few months. Ongoing trade tensions and high newbuilding prices have negatively impacted newbuilding. However, this is seen as positive for the medium term market outlook.“We maintain our high charter contract coverage of 90% in terms of operating revenues and 78% in terms of operating days over the next 12 months. This insulates us from the near-term soft charter market.  Through the six charters described above on vessels with scrubbers and an additional two fixtures that have been secured for durations of three years, our charter coverage has improved, and our contracted revenue has increased by more than USD 160 million,” Coustas noted.Danaos’ current fleet comprises 59 containerships aggregating 351,614 TEUs, including four vessels owned by Gemini Shipholdings Corporation, a joint venture.last_img read more

first_imgIndianapolis, In. — Indiana will be facing unprecedented cold temperatures in the coming days, which means there is a considerably higher risk for disaster in the next 72 hours than we typically face. The Red Cross is preparing to mobilize as needed, working closely with community partners and local officials.Throughout Indiana, local governments are preparing to stand up warming centers, which are intended to provide a temporary place for those who are housing insecure to get out of the harsh conditions. The Red Cross is supporting those efforts by loaning resources and supplies, and has already loaned over 200 cots to government partners. The Red Cross has also pre-positioned shelter trailers and supplies at key locations throughout Indiana, such as near interstates, to be ready for weather-related emergencies. Additionally, the intense cold creates a risk of widespread power outages; the Red Cross has contacted shelter partners to confirm availability and ensure teams are ready to act if a shelter is needed.“A winter storm is headed to this region and we have safety tips everyone can follow to stay safe,” said Duchess Adjei, Regional Communication Director at the American Red Cross, Indiana Region. “Whether trying to keep your home warm or having to be outside in the cold, you can follow these steps to get through the storm.”HEAT YOUR HOME SAFELYIt’s that time of year when many people resort to space heaters and other sources to keep their homes warm. Home heating is the second leading cause of fires in this country. To reduce the risk of heating related fires, the Red Cross recommends these steps (More home fire safety information available here):All heaters need space. Keep children, pets and things that can burn (paper, matches, bedding, furniture, clothing, carpets, and rugs) at least three feet away from heating equipment.If you must use a space heater, place it on a level, hard and nonflammable surface (such as ceramic tile floor), not on rugs, carpets or near bedding or drapes. Plug power cords directly into outlets – never into an extension cord.Never leave a fire in the fireplace unattended, and use a glass or metal fire screen to keep fire and embers in the fireplace.Never use a cooking range or oven to heat your home.Turn off portable space heaters every time you leave the room or go to sleep.STAY SAFE DURING WINTER WEATHERWear layers of clothing, a hat, mittens and waterproof, insulated boots.Be careful when tackling strenuous taskslike shoveling snow in cold temperatures.Check on your neighbors, especially elderly people living alone, people with disabilities and children.Bring pets indoors. If they can’t come inside, make sure they have enough shelter to keep them warm and that they can get to unfrozen water.Watch for hypothermia and frostbite. Hypothermia symptoms include confusion, dizziness, exhaustion and severe shivering. Frostbite symptoms include numbness, flushed gray, white, blue or yellow skin discoloration, numbness, or waxy feeling skin.WINTER TRAVEL SAFETYStay off the road if possible during severe weather. If you must drive in winter weather, follow these tips:Make sure everyone has their seat belts on and give your full attention to the road.Don’t follow other vehicles too closely. Sudden stops are difficult on snowy roadways.Don’t use cruise control when driving in winter weather.Don’t pass snow plows.Ramps, bridges and overpasses freeze before roadways.DOWNLOAD APPS: People can download the Red Cross Emergency App for instant access to weather alerts for their area and where loved ones live. Expert medical guidance and a hospital locator are included in the First Aid App in case travelers encounter any mishaps. Both apps are available to download for free by clicking here.last_img read more