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FPSO Liza Unity undocks and starts integration phase

first_imgThe Fast4Ward Multi-Purpose Floater (MPF) hull has now moved to the integration quayside in Keppel TUAS FPSO Liza Unity undocks and starts integration phase. (Credit: SBM Offshore.) Progress picked up pace when the yards in Singapore re-opened earlier this year. The mooring and riser system integration, as well as other work scope, were completed in dry dock at Keppel FELS. The Fast4Ward Multi-Purpose Floater (MPF) hull has now moved to the integration quayside in Keppel TUAS, where the topsides integration phase started with the progressive lifting of the topsides modules. This phase will facilitate gradual preparation of the FPSO for the start of the onshore commissioning activities, leading up to the final quayside departure.Both Keppel and Dyna-Mac shipyards are fabricating the topsides modules for the Liza Unity FPSO. This FPSO represents SBM Offshore’s first Fast4Ward design, benefitting from standardization of the project`s execution plan and using a fully completed and commissioned MPF hull, which sets the benchmark for future FPSO projects.This latest milestone is in line with the Liza Phase 2 project schedule, which targets departure of the FPSO to its final offshore location in Guyana next year, with start-up in 2022. It represents another key step forward on the path to delivering SBM Offshore’s first Fast4Ward FPSO to our client ExxonMobil. Source: Company Press Releaselast_img
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Alex Rawlings most multi-lingual student in UK

first_imgSt. Catz student Alex Rawlings has been named the UK’s most multi-lingual student in a competition run by the publishers Collins.The German and Russian student from London can currently speak 11 languages: English, Greek, German, Spanish, Russian, Dutch, Afrikaans, French, Hebrew, Catalan and Italian. In a video for the BBC News website he demonstrates his skills by switching between all eleven languages. He also explains the motivation behind his language learning.Rawlings told Cherwell that winning the competition was a “bit of a shock.” He explained, “I saw the competition advertised and heard something about a free iPad, and here we are. I would never have imagined that it’d generate this amount of media attention.”Stephen Fry tweeted at 9.42 am on 21 February, “What an absolutely brilliant young man!” along with a link to the BBC video.As a child, Rawlings’ mother, who is half Greek, would speak to him in English, Greek, and French, and he often visited his family in Greece.He stated that he has always had an interest in languages. “My dad worked in Japan for four years and I was always frustrated that I couldn’t speak to the kids in those countries because of the language barrier.” After visiting Holland at the age of 14 he decided to learn Dutch with CDs and books. “When I went back I could talk to people. It was great.”He taught himself many of the languages with the Teach Yourself books, but also by watching films, listening to music, and travelling to the relevant countries.Of all the languages he speaks, Rawlings says that Russian, which he has been learning for a year and a half, is the hardest. He said, “There seem to be more exceptions than rules!” He added, “I especially like Greek because I think it’s really beautiful, and I have a strong personal link to Greece and to the language.”When asked how he hoped to use his skills in later life, Rawlings told Cherwell, “I hope to carry on meeting lots of different people around the world and being able to speak to them in their own languages. If I can find a job that incorporates languages, then that would be ideal.“Everyone should learn languages, especially if they travel abroad. If you make the effort to learn even the most basic of phrases wherever you go, it instantly shows the person you’re speaking to that you respect their culture. Going around speaking loud English and getting frustrated at people is often perceived at best as tactless, and at worst as rude.’The next language Rawlings hopes to learn is Arabic, but “only once I’ve finished my degree and got some more time on my hands. For now I need to concentrate on my German and Russian so I can get preparing for finals.”last_img read more

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Have ‘Coffee With Cops’ on Thursday at Frankie’s

first_imgFrankie’s on the Bay at the corner of 11th Street and Bay Avenue in Ocean City, NJ, will opened for the first time on Jan. 8, 2015.The next “Coffee with Cops” event will be held 8 to 10 a.m. Thursday (Feb. 19) at the new Frankie’s by the Bay restaurant (11th Street and Bay Avenue).The Ocean City Police Department and Frankie’s provide complimentary refreshments, and citizens are invited to meet with officers and discuss concerns and ask questions related to police work in Ocean City.Contact Officer Michael Gray (609-525-9108 or [email protected]) with any questions.last_img read more

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Attempt to serve warrant leads to stand off in Mishawaka

first_img Facebook Google+ WhatsApp Facebook WhatsApp Twitter (Photo supplied/St. Joseph County Police Department) It was a peaceful end to a stand-off in Mishawaka.The St Joseph County SWAT Team was called late Friday morning, Sep. 4, to the 1500 block of Panama Street, where county officers were serving a warrant for felony domestic battery.Police say the suspect refused to come out.After nearly 90 minutes, officers deployed tear gas and the man surrendered. Previous articleFive people suspected in rash of shootings arrested in Benton HarborNext articleLaPorte County police looking for woman with 11 active warrants Jon ZimneyJon Zimney is the News and Programming Director for News/Talk 95.3 Michiana’s News Channel and host of the Fries With That podcast. Follow him on Twitter @jzimney. Google+ Pinterest By Jon Zimney – September 5, 2020 0 562 Attempt to serve warrant leads to stand off in Mishawaka Pinterest Twitter IndianaLocalNewslast_img read more

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Tozzer Library reopens in newly renovated building

first_img Read Full Story Tozzer Library returned to an entirely rebuilt and redesigned space following two years in temporary quarters.The original Tozzer Library building  was almost completely demolished and rebuilt and enlarged to reunite Harvard’s anthropological community for the first time in over 50 years. Tozzer is connected to the Peabody Museum, where some Anthropology Department offices continue to be housed, via a glass walkway.Visit the new Tozzer space at 21 Divinity Avenue.last_img read more

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Woman sells Bernie doll for over $20K, donates to charity

first_imgCORPUS CHRISTI, Texas (AP) — Bernie Sanders went from becoming a hit meme to a nearly $20,000-crochet doll in less than a week. After the Vermont senator went viral on social media for his simple Inauguration Day fashion choices of quirky brown mittens and over-sized olive-green coat, Tobey King in Texas got to crocheting. She turned the sensational image that trended for days on social media into a 9-inch crochet doll. It sold for $20,300 on an eBay auction. The 46-year-old King said she will donate to Meals on Wheels America. Her donation was inspired by Sanders, whose campaign created sweatshirts with the image on them and donated the proceeds to Meals on Wheel in Vermont.last_img read more

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Broadway Balances America Will Take You Inside the Cabaret Tour’s Kit Kat Klub

first_img Broadway Balances America View Comments Want to find out how beautiful life is inside the Cabaret? Broadway Balances America, the special six-part series airing on The Balancing Act on Lifetime Television, continues its second season on January 26 (the episode will re-air on February 2) with an exclusive look at the new touring production of Roundabout Theatre Company’s production of Cabaret. Tune in as The Balancing Act takes viewers behind the scenes of the classic Kander and Ebb musical, featuring interviews with the show’s cast and creative teams.In this episode, correspondent Amber Milt meets the creative team, including director BT McNicholl, choreographer Cynthia Onrubia, casting director Jillian Cimini and all the new faces stepping into the iconic roles of this Broadway favorite. The Kit Kat Girls and Boys who make up the ensemble of the production not only fulfill their responsibilities as traditional “triple threats” who act, sing and dance their way through the show, but are actually true “quadruple threats” as they also play musical instruments and make up the Cabaret orchestra. The Balancing Act spends the day with some of the actors, from wardrobe fittings to dance rehearsal to vocal and instrumental rehearsal.Featuring a score by John Kander and Fred Ebb and a book by Joe Masteroff, Cabaret is set in the infamous Kit Kat Klub, where the Emcee, Sally Bowles and a raucous ensemble take the stage nightly to tantalize the crowd—and to leave their troubles outside. The musical features some of the most memorable songs in theater history, including “Cabaret,” “Willkommen” and “Maybe This Time.”Visit the official Broadway Balances America website to discover more about this exciting series and to find out which Broadway musicals will also be featured!last_img read more

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Jimmy Buffett Musical Adds Pre-Broadway Stops

first_img Show Closed This production ended its run on July 1, 2018 Related Shows The Jimmy Buffett musical Escape to Margaritaville has added engagements in New Orleans and Houston to its roster before bringing cheeseburgers and paradise to Broadway. As previously announced, the new show will make its world premiere at California’s La Jolla Playhouse in May and play Chicago’s Oriental Theatre in November. A Broadway opening is slated for spring 2018.Following the La Jolla engagement, the production will go to New Orleans’ Saenger Theatre from October 20 through 28. Performances at Houston’s Hobby Center will run from October 31 through November 5. The Chicago stint is set for November 9 through December 3.The new show will feature Buffett’s classic hits, as well as original songs from the singer/songwriter. The story, crafted by book writers Greg Garcia and Mike O’Malley, follows a part-time bartender and singer at a tropical island resort who questions his relaxed ways when he encounters (and falls in love with) a career-minded tourist.Christopher Ashley is set to direct and Kelly Devine will choreograph. The production will feature sets by Walt Spangler, costumes by Paul Tazewell, lighting design by Howell Binkley and sound design by Brian Ronan. View Commentscenter_img Escape to Margaritaville ‘Escape to Margaritaville’last_img read more

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Credit risk premium ‘underestimated’ due to duration fault, says AQR [updated]

first_imgAQR said the returns from corporate bonds were driven by changes in the risk-free rate and the spread over the risk-free rate.To isolate the component of returns attributed to credit risk one must remove the effect of interest rates by subtracting the returns of a risk-free instrument from a corporate bond return, while matching duration.AQR said previous research isolating credit risk-premium assumed matching duration, but risk-free bonds were generally longer and carried more term premium thus have a higher risk-adjusted retrun than shorter bonds. (see diagram)Scott Richardson, managing director at AQR, said the average duration was around seven years for a corporate bond but 12 for risk-free sovereign bonds.This meant estimates of the credit-risk premia were underestimated.”If you are subtracting the longer-dated government bond, you are subtracting too much of a return from the corporate bond return. And that simple difference pushes down the estimate of the excess credit return,” he said.“People have effectively over-hedged the corporate bond return; the consequence being that given a positive term premium you are pushing down the estimate of the credit risk premium.” The credit risk-premium generally identified in corporate bonds has been underestimated with research definitively showing its existence and that it acts as diversifier in equity and sovereign bond portfolios.A time-series analysis research paper from AQR Capital Management showed the excess return of corporate bonds over sovereign bonds had been wrongly accounted for, meaning the risk premium associated with credit risk was not correctly identified.The paper ’Credit Risk Premium: Its Existence and Implications for Asset Allocation’ also said credit risk premium does exist and would diversify a 60/40 equity and sovereign bond portfolio over the long term.The research, carried out by Attakrit Asvanunt and Scott Richardson from AQR using data from 1926 to 2014, showed term-risk was wrongly identified as equal in previous studies meaning the actual return allocated to credit risk was underestimated. Source: AQR Capital ManagementGraphic to show over-estimation of credit risk-premiaThe paper also found the average monthly credit-risk return was 21 basis points using data from August 1988 to December 2014.However, the pair also looked at whether exposure to credit risk was beneficial in a portfolio sense, or if the premia was equity risk-premia in disguise.It tested three portfolios, over different time sets, with different weightings to risk-free government bonds, equities and corporate bondsA long-only portfolio between 1988 and 2014 weighted 73%, 15% and 12% respectively gave an optimal risk and return profile, while on a longer 1936 to 2014 scale the weightings was 35%, 17% and 48%.Collectively, the results showed there was a risk-premia to be had from exposure to credit risk which is sufficiently different to equity risk-premia, the paper said.However, Richardson stressed these were tactical allocation considerations, as different periods of time and economic cycles would yield different results.He said the finding the existence of credit risk-premia was obvious, but finding the existence of positive risk-adjusted returns for credit was unique.“You can only uncover the result with careful attention to measurement.”Earlier this year, AQR teamed up with the London Business School to jointly launched the AQR Institute of Asset Management, forming a 10-year collaboration to fund and generate research across a range of disciplines.This article, originally published on 13 April, has been updated to correct a misunderstanding by the author,WebsitesWe are not responsible for the content of external sitesCredit Risk Premium: Its Existence and Implications for Asset Allocationcenter_img #*#*Show Fullscreen*#*#last_img read more

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Pension fund, insurer seeking infrastructure managers via IPE Quest

first_imgA pension fund based in Belgium and a Scandinavian insurance company are each looking for infrastructure managers via IPE Quest’s Discovery service.According to Discovery search DS-2373, the pension fund wants to invest via an unlisted pooled fund, with an allocation that could be for between €10-15m.The mandate would be for infrastructure equity only.The pension fund is targeting returns of between 7.5% and 10%. It has some flexibility as to the geographic spread of investments. It specified that the mandate would be pan-European, but indicated it would accept OECD countries as the asset region if the main focus were on Europe (more than 50%).Interested parties should have a track record of at least five years and register their interest by 13 November.Meanwhile, the Scandinavia-based insurance company is looking to allocate up to €200m to infrastructure in global developed markets, via a pooled fund.It anticipates placing a mandate in March next year.The closing dead for the insurer’s DS-2371 search is 7 November.The IPE Real Assets news team is unable to answer any further questions about IPE Quest, Discovery, or Innovation tender notices to protect the interests of clients conducting the search. To obtain information directly from IPE Quest, please contact Jayna Vishram on +44 (0) 20 3465 9330 or email [email protected]last_img read more