Euronav Takes USD 100 Mn Loan to Prepare for IMO 2020

first_imgzoomSource: Pixabay under CC0 Creative Commons license Belgium’s tanker shipping company Euronav has arranged a further financial boost amid preparations for the International Maritime Organization’s 2020 sulphur cap.During the company’s second quarter conference call, Euronav Chief Executive Officer, Hugo De Stoop, said that the company took out an additional USD 100 million credit facility.He explained that the loan was taken in order to help the company prepare for the switch, in particular for the changes in its fleet fueling strategy.De Stoop did not unveil any further details related to the facility, but said that a separate webinar on the company’s IMO 2020 preparations would be held in early September. “Euronav leverage remains amongst the lowest in sector and we have no outstanding CapEx links to newbuildings,” he noted.The company ended the second quarter of this year with a net loss of USD 38.5 million, compared to a profit of USD 19.5 million reported in the first quarter of the year, mainly due to a longer than expected freight rate weakness.Revenues amounted to USD 169.3 million in the second quarter of this year, against USD 232.6 million recorded a quarter earlier.last_img read more

Colten Boushies aunts say RCMP harassing Red Pheasant residents

first_imgChris Stewart APTN National NewsWhile the community of Red Pheasant tries to mourn the loss of Colten Boushie several people say it’s not helping that the RCMP have upped patrols that includes pulling people over and shinning spotlights into homes.Residents on the Saskatchewan First Nation say it’s harassment.“Getting stopped for no cause,” said resident Tash Baptiste, and Boushie’s aunt. “Just like last night. They asked why they were driving up and down … this is a reserve. We have relatives at every house. It’s not a crime to jump in your vehicle and go visit somebody.”Boushie was shot and killed Aug. 9 in a farmer’s field a short distance away in Biggar, about an hour west of Saskatoon. Gerald Stanley has been charged with second-degree murder and is out on bail pending a trial.The shooting sparked a massive outcry over racism in the province.Sabrina Peeaychaw, also Boushie’s aunt, said she’s seen RCMP out patrolling.“Stopping in people’s yards. Flashing their spotlights in their homes. Pulling into yards, as well as peeking into windows,” said Peeaychew.Peeaychew is also on the Red Pheasant council and said she called the RCMP to complain.“It has become a problem. I thought I would take it upon myself and question them. The RCMP returned my call stating they spoke to their constables. They are only to come to our community if there are any calls for them to be here,” she said.Stanley’s next court date is scheduled for Sept. 13.last_img read more