Who really should bear the cost of an oil spill, should such an event…

first_imgThe concerns of an oil spill, and moreso the cost, was first raised by several prominent commentators in the press not too long ago, and that primarily inspired this special series in this regard. The main contention of some observers, as far as an oil spill is concerned, is that it was not catered for in the oil contract between the Government of Guyana (GoG) and ExxonMobil. As such, several commentators have questioned who will bear the cost should such an event occur. In fact, it was noted in one of the previous articles that, evidently, oil companies are generally unwilling to compensate the financial costs of any oil spills. After some bit of probing from the media (as it would appear), the Honourable Minister of Natural Resources subsequently informed the public that the Government will set aside a portion of the oil revenues to respond to an oil spill (Newsroom, March 28, 2018).While the minister did not quantify what proportion of the oil revenue Government intends to put aside for this, the section that follows examines this model to determine whether this would be feasible and/or sensible in the interest of Guyana.Based on information in the oil contract, one can simulate a simple mathematical model of the potential net revenues Guyana is poised to earn, as is demonstrated in the illustrations above. There are, however, a number of assumptions that were necessary to factor in the computation, given that some of the cost elements that would affect Guyana’s net earnings are unclear. These are: (1) it is embedded in the contract that Guyana agreed to pay the corporation tax of the exploration company from Guyana’s share of profit oil, as is illustrated in table 2; (2) the second assumption is: according to the contract, Exxon reserves the right to deduct from total production of oil whatever amount is needed for their operations, which means that, of 100,000 barrels produced per day, Guyana will not benefit from royalty for the total production, neither would the full production be sold. To this end, it is unclear how much barrels Exxon will need to deduct for their operations; (3) the third assumption is that, according to the contract, Guyana will have to bear the transportation cost to ship its share of profit oil onshore, another cost component that is uncertain.Therefore, based on the foregoing, one can reasonable ascertain that Guyana will safely net about $30 – $60 billion annually in oil revenues, and should there be a large scale oil spill — which could exceed about US$4 billion (GYD$826B) in damages and costs to the economy, this would be equivalent to 12 years of total net revenues. Clearly Guyana could not afford it, and it is thus not financially sensible on the part of Guyana. The oil exploration companies need to take full financial responsibility for an oil spill, not Guyana!*The Author is the holder of a MSc. Degree in Business Management, with concentration in Global Finance, Financial Markets, Institutions & Banking from a UK university of international standing.last_img read more

Prognosticating…

first_img…from rumOver recent decades, DDL has earned a well-deserved reputation as a well-run Guyanese corporation in the liquor industry – where very high standards had been set by Banks DIH under Peter D’Aguiar. D’Aguiar, of course, famously made a foray into public life and politics based on an uncompromising anti-communist stance, and ended up with his UF party helping to usher in the PNC into power in 1964. Things didn’t end very well, and maybe that’s why D’Aguiar’s successors at Banks have since been comparatively low-keyed in the public arena.DDL, on the other hand, became private only in the 1990s, as the sugar estates — each with their own distilleries – consolidated, and then there was one. Yesu Persaud, DDL’s first Chairman, became famously articulate on public matters even as he expanded and diversified DDL. He even made a foray into politics with GUARD during the “fight for free and fair elections” era.Now, your Eyewitness is of the firm opinion that business execs should speak their minds publicly – and not only through their associations, such as the Private Sector Commission. Capitalism, or Private Enterprise as it was rebranded, was always driven by individuals who could rise about the herd. There were Rockefeller and Vanderbilt in the 19th century and more recently, there have been Stephen Jobs and Bill Gates; reticent they were not!! Businessmen have to know the public.But with Yesu Persaud’s retirement in 2014, his successor, Komal Samaroo, appeared ready to replicate the earlier withdrawal of Banks’ Execs from public commentary in defence of what politician after politician have bigged up as “the engine of growth”. Even as the engine sputtered here!! So your Eyewitness was pleasantly surprised when he saw a report in the Chronic that Samaroo declared there was “too much negative energy…saturating national discourse at a time when Guyana’s future has never been better.”What made his comment even more newsworthy was that, at the same time, DDL announced it was importing molasses from Nicaragua to produce its major product – rum!!Any ordinary business exec would’ve been questioning why the sugar factories were shut down – not because 5700 workers were thrown onto the streets, of course, but about screwing their molasses customers royally!…the future of boysSeems — like Dickens prognosticated two centuries ago — it was “the best of times; it was the worst of times”. In the midst of news that one tyke had actually scored – for the very first time — a perfect score in the NGSA, came two downers. First: that while scores on English rose marginally, Math plunged precipitately. Whatever happened to those specialists the Ministry of Education had hired a few years ago to fix the Math jinx??Then came the even more shocking news that after all the agony of preparing for the NGSA, kids were dropping out of secondary school even faster than flies!  47% boys and 57% girls from the 14,000 plus annual cohort who usually write the NGSA will not complete high school!! Now it doesn’t take a soothsayer to tell us that this is unacceptable.So, what’s Minister Henry gonna do ‘bout it?…on “improper purposes”The CCJ will be explaining, in their soon-to-be-announced judgement, how you can know when cross-dressing is done “for an improper purpose” — which is ILLEGAL.When they hang out near St George’s Cathedral??last_img read more

ExxonMobil Guyana granted approval for its Liza Phase Two operations in Guyana

first_img– What does this mean for Guyana, and how can Guyana benefit from its massive oil wealth offshore?The Environmental Protection Agency (EPA), a local regulatory agency in Guyana that has responsibility to take the necessary measures to protect, conserve, manage and improve the environment, has granted approval for ExxonMobil to commence its Liza Phase Two operations in Guyana through its subsidiary, namely Esso Exploration and Production Guyana Limited (EEPGL).There are many public discussions and debates from commentators and analysts alike regarding whether Guyana can benefit from its oil wealth offshore. The question is: how should Guyana spend the potentially massive wealth it is poised to earn in less than two years’ time? The most recent such public pronouncement was made by the General Secretary of the Guyana Trades Union Congress (GTUC) in its Labour Day celebration in Georgetown — a national holiday event in Guyana. In his speech at that forum, he made calls for free education and nationwide healthcare.A section of those gathered at the Government’s job fair which was held last monthThere was also a suggestion put forward by a prominent professor of economics for cash transfers of US$5,000 to be made to each household, among other things.In the analysis that follows, the author, for now, examines the cash transfer debate within the context of Guyana’s economic development and status, and how economically sensible some of these proposals might be in the long run. Proponents of this proposal are of the view that a policy of this nature would aid in poverty reduction, and is perhaps the best mechanism by which every Guyanese would be guaranteed direct benefit from the oil & gas production operations in Guyana; especially since this new sector would not provide a fantastic amount of job opportunities for locals.The contrary view of other analysts and economists alike is that such a policy would engender hyperinflation, and may not be fiscally sustainable.In my analysis, I would therefore explore a broader spectrum of implications of the proposed cash transfer policy.Guyana’s population is roughly 750,000 people. So, assuming that each household in Guyana has an average number of four (4) persons, then using four as the denominator and the population size as the numerator, this computation would give rise to 187,500 households. For simplification, the total average number of households is rounded to 200,000. Therefore, an annual cash transfer of US$5,000 from the potential oil revenue would cost US$1.0 billion, or Gy$206.5 billion annually.This figure of Gy$206.5 billion is equivalent to 50.8 per cent of real GDP (2017), which was Gy$406 billion, and represents 82.6 per cent of the size of the National Budget for 2017, which was Gy$250 billion.Further, considering competing priorities and opportunity costs, the new Demerara Bridge is estimated to cost some US$150 million; the Cheddi Jagan International Airport Expansion Project is some US$150 million; the engineer and design cost to build the road linking Guyana and Brazil is about US$10 million – assuming that road might cost about US$20 million. These figures combined give rise to a sum total of US$320 million, or Gy$66 billion; which means that a total cash transfer of Gy$206.5 billion annually to each household could — almost three times — cover the combined cost to build a new bridge over the Demerara river, the International Airport expansion project, and the road linking Guyana to Brazil.That being said, it is important to note that the net cash flow from oil commencing from 2020 would not reach US$1.0 billion; which means that — if considered, and at whatever figure — such a policy is unlikely to take effect at the immediate onset of oil production. During the first two years into production, net revenue from oil is estimated at just over US$300 million; from 2022 to 2025, at a production rate of 220,000 bpd, net revenue is estimated to be at about, or just over, US$750 million but less than US$1.0 billion. When production is significantly increased to 300,000/500,000 bpd, net revenues would reach and/or surpass the US$1.0 billion mark (note that these estimations are based upon ExxonMobil’s production alone); but this level of increased production is likely to occur until after 2025.In the synthesis of current global evidence of the impact of cash transfers in developing countries — and of what works in different contexts, and/or for different development objectives — it has been found that such transfers have proven potential to contribute directly or indirectly to a wider range of developmental outcomes.Essentially, cash transfers are direct, regular, and predictable non-contributory cash payments that help poor and vulnerable households to raised and smooth incomes. The term can be administered through a range of instruments, such as social pensions, child grants or public works programmes; and a spectrum of design, implementation and financing options (DFID, Evidence Paper, 2011).Henceforth, perhaps if the Government of the day were to decide on the cash transfer policy, the current proposed methodology, inter alia, the direct cash transfer to each household may indeed fuel hyperinflation – an undesirable outcome policymakers would have to guard against. As such, it would probably be better to consider other instruments; or, even better, a combination of different instruments to administer such programmes. For example, grants geared towards promoting entrepreneurial activities might be a better way to do so, as against direct cash transfers annually to each household. Or careful thought should be given to the eligibility criteria for cash transfers; for example, the high income (the rich) class should not be eligible.last_img read more

Liverpool sign Barcelona star!

first_img Liverpool have signed Barcelona youngster Bobby Adenkanye Liverpool have signed Barcelona youngster Bobby Adenkanye, just as talkSPORT told you earlier this week.The teenager will move from the Catalan giants to the Reds’ Kirby academy, having left his boyhood club Ajax when he was 12-years-old.Ajax also expressed an interest in re-signing their prodigy, as have Eredivisie rivals PSV Eindhoven, but Brendan Rodgers’ side have beaten the pair to the highly rated Nigeria-born winger.Adenkanye posted a picture of himself on his Instagram account, confirming the move. 1last_img read more

Morgan Stanley’s profit more than doubles

first_img AD Quality Auto 360p 720p 1080p Top articles1/5READ MORE11 theater productions to see in Southern California this week, Dec. 27-Jan. 2Sharply higher performance across all of its business lines – including a significant rebound in its underperforming brokerage unit – helped lift revenue 48 percent, to $8.94 billion from $6.03 billion. The results easily beat the earnings of $1.45 per share on $7.87 billion of revenue expected by analysts surveyed by Thomson Financial. “I could not be more pleased with the outstanding results the employees of Morgan Stanley delivered in the second quarter,” Mack said in a statement. “There is still a great deal of work to be done, but we are moving aggressively on many fronts and we see significant opportunities to create shareholder value.” Mack, who replaced former Morgan Stanley head Philip Purcell on June 30, delivered the fourth consecutive quarter of higher results. The blowout quarter helped Morgan Stanley achieve its strongest first half in history as the firm heads into the typically sluggish summer period. Morgan Stanley follows three of its rivals – Goldman Sachs Group Inc., Lehman Brothers Holdings Inc., and Bear Stearns Cos. – in posting sharply higher results despite a downturn in global stock markets. All companies came off record first-quarter results that were driven by a run in stock trading and a resurgence of mergers and acquisitions. Investors were betting the robust results meant the good times aren’t over on Wall Street. Shares of the company rose $2.46, or 4.3 percent, to close at $59.48 on the New York Stock Exchange. “The changes he’s made in these businesses are extraordinarily positive, and because of what he’s done this company will be far more profitable down the road,” said Hoefer & Arnett analyst Richard X. Bove. “We believe that Morgan Stanley is back and functioning the way it should.” Morgan Stanley Chief Financial Officer David Sidwell was unsure whether the downturn seen in late May would continue during the third quarter. “In both equities and various fixed-income markets, trading in June is more clearly difficult than earlier in the year,” he said. “It’s still too early to say if the markets are undergoing a fundamental shift instead of a speed bump.” The securities firm said equity sales and trading revenue rose 54 percent from last year, to $1.7 billion, while its bond, commodity, and foreign exchange trading helped fixed-income revenue almost double to $2.4 billion. Trading and underwriting fees pushed institutional securities revenue up 71 percent to $5.7 billion. Merger advisory fees rose 8 percent, to $385 million, from last year. Revenue from its Discover credit card and payments unit rose 34 percent, to $1.19 billion. Morgan Stanley said the unit was helped by a 4 percent increase in credit card balances, to $48.5 billion, while loan charge-offs fell sharply from last year. Morgan Stanley’s typically sluggish wealth management business began to show a turnaround during the quarter, with revenue rising 14 percent, to $1.4 billion. The company’s own investment portfolio posted sharp revenue gains, rising to $595 million from $226 million a year ago. The firm said results were buoyed by investments in real-estate funds and from the sale of seats on the New York Stock Exchange when the securities market went public earlier this year.160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! NEW YORK – Morgan Stanley Inc. on Wednesday took another step closer to fulfilling Chief Executive John Mack’s pledge of a financial turnaround, posting a second-quarter profit that more than doubled on stronger trading, underwriting and investment gains. The company’s shares soared more than 4 percent to their biggest one-day gain this year. A struggling stock price and sluggish earnings caused a shareholder revolt at the New York-based investment house that ushered Mack back into power a year ago this month. Morgan Stanley, the third-biggest U.S. securities firm by market value, took a big step toward living up to Mack’s promise to double earnings in five years with its latest quarterly results. Profit for the quarter ended May 30 rose to $1.96 billion, or $1.86 per share, from $928 million, or 86 cents per share, in the same period last year. last_img read more

MatchMine Raises $10m for Media Recommendation Engine

first_imgTop Reasons to Go With Managed WordPress Hosting Related Posts Why Tech Companies Need Simpler Terms of Servic… marshall kirkpatrick DEMO events have seen media recommendation engines before and there are still a number of viable players in this space despite the struggles they’ve all faced. The startups with major financial backing, including Oregon based MyStrands ($25m) and now MatchMine with $10m in their coffer, are probably best positioned to work on the science and reach out to a world that has only begun to recognize the value of their services.Other interesting recommendation startups recently launched include Scouta (video and podcasts, including an iTunes agent), Seeqpod (music, iPhone) and Thoof (all kinds of things). For more on this topic, see Alex Iskold’s excellent articles The Art, Science and Business of Recommendation Engines and The Attention Economy: An Overview. Tags:#web According to coverage today in Boston.com (via PaidContent), MatchMine starts by asking for demographic information about a user and asking us to rate a variety of sample media. A desktop application the company calls a “gumball machine”, probably built in Adobe’s AIR if MyMovieMatch is any indication, then lets users flip through recommended media items and learns from their ratings of each. The company aims to let users port their media preference profiles, called their MatchKeys, to a variety of sites around the web. 8 Best WordPress Hosting Solutions on the Market MatchMine, a Massachusetts company building a cross-platform media recommendation engine, announced this morning that they have received a $10 million investment from The Kraft Group. The company released an early product called MyMovieMatch in July, but in the bizarre DEMO dance of “now you see us now you don’t,” the product has gone back under wraps before it launches next week. Hopefully there will be more disclosed than there has been so far. You can sign up for a beta account now on the company’s site. See RIA expert Ryan Stewart’s review of the original product for background from this summer. At launch three sites will support MatchKeys, movie sites Peerflix and FilmCrave and independent music community Fuzz.com. The company is headed by former executives from mobile content provider m-Qube, which was acquired by Verisign for $250 million. Rumor has it that that acquisition lead to heavy talent losses from m-Qube and MatchMine may be an example of such. Executive backgrounds and the company’s own discussion on its blog give reason to believe there will be a mobile component to MatchMine as well. A Web Developer’s New Best Friend is the AI Wai… If AIR is at the center of the company’s products, I presume this investment will go down as one of the first substantial AIR-centric investments to date. Though recommendation engines are one of the things I’m most excited about for the future, that seems like a big bet on a run-time that’s so far no where near as ubiquitous as Adobe’s other products. The AIR product is probably just one version of MatchKey, the company was at Seattle’s 360Flex conference last month getting feedback on their Flex SDK.last_img read more

Technology: IPv6 is the New Normal

first_imgLast week on June 6th was launch day for IPv6 (celebrated on the sixth day of the sixth month).  Major ISPs and Internet companies around the world turned on IPv6, the next-generation networking addressing technology.Every device connecting to the Internet has an address, an IP (internet protocol) address.  When the internet was first developed it was based on the 32-bit IPv4 protocol, an address system that provided unique address identifiers to 4.2 billion devices.  As the internet has grown, we’ve run out of new addresses.  In February 2011, the International Corporation for Assigned Names and Numbers (ICANN) released the last of the available IPv4 addresses.Steven Shankland, senior writer at CNET, explained to NPR last year “Basically, what happened is it stopped raining and snowing in the mountains. But we’re downstream – down the river, and we still have plenty of water right now.  At some point in the next year or two, the dry spell is going to come downstream and we’re going to have a drought down where the regular folks are.”The solution has been to redesign the existing protocol to enable much larger capacity.  The next generation addressing scheme is called IPv6.  It is based on 128 bits has the capacity to address 3.4 x 1038 addresses, expanding the internet addressing capability by many trillion.Leslie Daigle, chief Internet technology officer of ISOC, said that “The internet functions with regular, business operations on IPv6. Participating websites have turned IPv6 on for good, access providers already have significant IPv6 traffic on their networks, and equipment manufacturers are shipping with IPv6 on by default.  IPv6 is the new normal.”The transition to IPv6 has begun.  Zhang Xiaoqiang, China’s Deputy Director of the National Development and Reform Commission, said that “By the end of 2015, the overall system will be established, so that IPv4 can be smoothly transferred to the IPv6 system. We will gradually halt allocating IPv4 addresses to users as for the time being.”Google, Microsoft, Facebook, and Yahoo along with 3000 other large websites have already turned on IPv6 for their main sites and will run it in parallel with IPv4.  Gartner predicts that by 2015, 17 percent of users worldwide will use IPv6, and 28 percent of new Internet connections will be IPv6.  Five home router vendors including Cisco and D-Link are now shipping home routers with IPv6 turned on by default.Interested in seeing if you’re already using IPv6?  This site provides a report of your current protocol usage: http://test-ipv6.com/.last_img read more

A Big 12 quarterback draft for the ages Part II

first_imgPhoto Attribution: USATSIPhoto Attribution: USATSIClick here for Part 1 and an explanation of the rules. Remember you get QBs at the age they are today so if you draft Bill Snyder to play QB you get 138-year-old Bill Snyder trying to toll out of the pocket.We pick it up with my first pick of the second round…Round 2Kyle: I really want to take Gundy right here but I don’t know if 46-year-old ball coach can still go. He’s probably as potent as what OSU is rolling out there right now but that doesn’t exactly say what I want it to say.I’ll roll with Kingsbury’s successor’s successor (side note: BJ Symons, who I loathed, threw 719 passes in 2003. Half of them were against OSU in Stillwater).That’s right, I’ll take 32-year-old-still-playing-pro-football-as-recently-as-five-years-ago Sonny Cumbie.He won’t start for me but I trust him as my backup more than I trust any current Big 12 QB. He once dropped 70 on TCU in 37 minutes…www.youtube.com/watch?v=ddpLWCEoD0UThat’s more points than Jake Waters, Trevone Boykin, and Sam Richardson have ever seen next to their team’s names on the scoreboard ever. Combined, probably.Nolo: FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFI didn’t think anybody would remember Cumbie. I was counting on him. Screw you, Pistols Boy!Carson: I think we’ve reached our quota of former Tech QBs.Who’s Mel Kiper’s top 5 available? Case McCoy? Davis Webb? …I’ll pass. You guys are going to hate me for this pick, but it’s legal.Collin Klein.(Yes, even with that throwing motion!)Klein is apparently working part-time for the K-State athletic department…and signing autographs at the Dick’s Sporting Goods in Salina, Kansas.You know who I’m getting: 2012 Heisman finalist, who looks like a modern day version of Tommie Frazier compared to the other QBs still on the board.I’d go to war with Kliff & Klein.N: “Working at the athletic department part time” does not make him a current Big 12 coach/Assistant coach. He isn’t technically on the football staff.C: I’m sure Snyder lets Collin swing by the office more than what is probably allowed? Sigh.I’ll go with Blake Bell.The OU coaching staff should use him like Klein (less like Landry) & run the same offense K-State did. Just line him up in the Belldozer as the base formation (like Klein did most of the time) and get 4 yards & a cloud of dust. Mix in some timely play-action & you’re in business.If we copy the Klein offense we can go places. And we will.N: I actually agree with you by the way, Carson (gasp!). I think OU keeps acting like Bell has a Landry/Bradford arm, and he just doesn’t. The Klein-style attack would work MUCH better.K: This is the best draft we’ve ever done.Who is trades multiple group emails about Collin Klein, Blake Bell, Sonny Cumbie, and Wes Lunt?!N: I guess I have to go with Davis Webb.I know he isn’t too flashy, but he is fearless. Plus he has two last names. He (along with a little help from his friend, Baker) got Tech off to a 7-0 start and he was one drive away from knocking off OU in Norman. In his last three games (two of them road games), he’s combined for 1,262 yards, 7 TDs, and 3 picks, and he’s only getting better under Kliff.C: I’m pretty bummed Klein & Kliff can’t hang out at my football offices. Although, Collin’s marriage would be in great jeopardy if he went to Murphy’s with Kliff.Even more trouble than Kyle & Matt’s marriage for this e-mail exchange.Amilian: I already my starter in Petty, so I’m going to go with a little athleticism with my backup. Donovan Woods played just about every position while at OSU, so he knows the game well.With NFL experience and young enough to still move well, Donovan will back up Bryce well. Does he still hold the OSU record for most TD passes in a season with 13?  Get OKCDave on that.Round 3A: If Dana is eligible for a draft, I’m taking him. I don’t care if he goes 0-20 with 5 picks because his reaction to each and every INT will be (I don’t use this word lightly) epic.And forget about what he is or isn’t capable of on the field at his age.  I get THIS and THIS on the sideline. And I’ll go ahead and be the first coach in history to let his 3rd string QB call the plays.Holgy drawing up madness for Petty. Yes.C: Bold strategy. Dana actually played wide receiver at Iowa Wesleyan (do they have casinos there?)….is Nolan trying to find a wife right now?A: Who would you rather have as OSU’s current third-string QB: Dana or Daxx?K: I’m going to need lsufreek to GIF Dana running the speed option helmet-less against Texas.N: Trying to find a wife? LOL! Two weeks ago I road tripped to Oxford, MS with nowhere to sleep. I don’t think I’m getting married any time soon.I know you can buy liquor at the grocery store in Iowa, and I’m sure there’s a coupe Indian casinos there, so Dana probably fit right in.I like Matt’s strategy. After Google yielded no evidence of Matt Holliday ever enrolling in a single class at OSU, the final spot is tough to pick.I also can’t figure out what Al Pena is doing these days, so instead of picking between Alex Cate and Seth Newton, I’m going to go a different direction.I have a choice between a fan favorite, gamer, who is the OC at the most powerful college athletic program in the country, and a former national champion and current OC at another perennial powerhouse. Since I barely remember watching either of them play, I’m going to go with the guy who didn’t go to OU. I’m taking Major Applewhite.K: I’m crushed. I had 39 Chris Simms GIFs queued up for my turn. I mean I am CRUSHED.N: I’ll trade you Major for Sonny, Kyle. 🙂Also, were GIFs even a thing yet when Chris Simms played?C: Wow, I hadn’t even thought of Major. Great pick. I still can’t believe Mack played Chris Simms over him. (Major was 1999 All-Big 12 1st team, Co-Offensive Player of the Year!)Anyway, with apologies to Case McCoy, I’m going with another former OSU quarterback. Who, as a sophomore, threw for 2,226 yards 24 TDs and rushed for 500 yards and 5 TD’s.The man who inspired The Rant: Bobby Reid. He’s currently on the OSU coaching staff. Reid put up those numbers in the old Gundora offense, which was chalk full of bubble screens. Imagine if he was in this year’s offen….never mind.He was a pretty good QB and lost his job partly because of injury (KOd out of the second game of the year in 2007, never got the job back) Doesn’t that sound like Wes Lunt, by the way? Zac Robinson took over & got to reap the benefits of unstoppable Dez.Doesn’t Bobby look a lot better after what we’ve seen this year?K: [don’t take Ron Powlus even though he’s on Kansas’ staff][Ron Powlus was a quarterback in the mid-90s and his coaching photo makes him look like he’s about 240 lbs.][I don’t care what Beano Cook said about him!]Screw it, I’ll take Daniel Sams and stick a white courtesy phone next to Tom Osborne in case my first two guys go down. I’ll bring in the reliever and have him run the ’95 Nebraska offense with Sams who, by the way, kind of impressed me in the Kansas State-OSU game earlier this year.I like my chances with a Fields-Cumbie-Sams lineup. I can run any offense effectively which is infinity more than like seven Big 12 teams can say so far this year. I’m not too old, I have a runner, and I have the only OSU guy in the modern era to win Bedlam twice as the starting QB.Ladies and gentlemen, 2013 Big 12 football!!N: I actually thought long and hard about taking Bobby. He still looks like he’s in good shape, and he’s still built like an NFL QB. I’m fine with the pick since he’s employed full time by the football team, even though he’s technically not on the coaching staff.C: Nolan really went through these resume’s with fine-toothed comb. I think Gundy would have been a first round pick had OSU not released that Instagram video of him throwing a football.N: I thought it was common knowledge that B. Reid was just on the administrative staff. Klein on the other hand? I couldn’t just let you nab last year’s Heisman Trophy runner up that easily.Final teamsAmilian: Petty-Donovan-HolgorsenNolan: Lunt-Webb-MajorCarson: Kliff-Bell-BobbyKyle: Fields-Cumbie-SamsIf you’re looking for the comments section, it has moved to our forum, The Chamber. You can go there to comment and holler about these articles, specifically in these threads. You can register for a free account right here and will need one to comment.If you’re wondering why we decided to do this, we wrote about that here. Thank you and cheers!last_img read more

DSIC Gets DNV GL AiPs for Shuttle Tanker Crane Unit Designs

first_imgzoom China’s Dalian Shipbuilding Industry (DSIC) has received approval in principle (AiP) certificates from classification society DNV GL for new shuttle tanker and column-stabilized crane unit designs.The certificates were handed over at the Marintec China trade fair in Shanghai on December 6.In response to market indicators signaling an upturn in the shuttle tanker market, DSIC has developed a new 127,000 dwt shuttle tanker design targeted for operation in the North Sea and on the Norwegian Continent Shelf. The design features dynamic positioning (DP2) capacity and a twin propulsion system, and is already in compliance with EEDI Phase 3 regulations, according to DNV GL.The second AiP has been received for a column-stabilized crane unit with dynamic positioning system. The unit is equipped with two rotary heavy-lift cranes and S-Lay pipe laying system and is capable of performing heavy lifting and pipe laying operations in moderate to harsh environments, including the offshore UK and in the North Sea.“DSIC and DNV GL have successfully collaborated on joint design development and classification for various ship types and offshore units since the 1980s… Both DSIC and DNV GL will gain from the deeper and broader cooperation that these AiPs represent,” Lu Xiao Hui, Vice President and Chief Technical Officer of DSIC, commented.“We are pleased and proud to be able to further strengthen our cooperation with DSIC with the presentation of these AiPs, in particular to help them introduce a new design in the promising shuttle tanker segment,” Torgeir Sterri, Regional Manager for Greater China at DNV GL – Maritime, said.Separately, Finnish technology firm Wärtsilä informed it has signed a joint industry project cooperation (JIP) undertaking with DSIC. The objective of the JIP is to develop a preliminary production level design for the aforementioned shuttle tanker. The deal was signed in October 2017.By having a ready and an approved shuttle tanker design concept available, the building period can be significantly reduced, as explained by Wärtsilä.Wärtsilä will provide technical design support for the project. This will include developing an optimized propulsion and thruster solution and machinery with an electric configuration for the vessel’s DP control system.last_img read more