23 Oct

Songa Bulk Considering Tap Issue to Buy More Ships

first_imgzoom Norway-based shipping company Songa Bulk ASA is contemplating a tap issue in order to use the net proceeds for the acquisition of additional dry bulk vessels.The target amount is USD 18 million in the senior secured bond Songa Bulk ASA 17/22 FRN USD C, with a maturity on June 13, 2022.The current outstanding amount is USD 120 million and the borrowing limit is USD 150 million.Following a successful tap issue, the company said it will not carry out any additional tap issues.The company revealed it is also in the process to dispose of one of its Supramax vessels. When concluded, the sales proceeds will be used for further vessel acquisitions, Songa Bulk said.Songa Bulk has recently bought a number of second-hand vessels, prompted by attractive prices in the dry bulk sector. Earlier this week, Songa Bulk entered into an agreement to acquire a 2012-built Kamsarmax. The latest acquisition brings the company’s fleet to 15 vessels, which resulted in an investment worth USD 279.6 million.last_img read more

5 Sep

Sensex rebounds by 213 points on bargian hunting

first_imgBargain hunting and unravelling of short positions by investors propelled a barometer index of the Indian equities markets into provisionally closing with gains of 213 points on Thursday.The barometer 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) made gains after six consecutive days of losses. It provisionally closed higher by 213 points or 0.85 percent during the day’s trade.Similarly, the wider 50-scrip Nifty of the National Stock Exchange (NSE) made gains during the day’s trade. It rose by 71 points or 0.93 percent at 7,683.25 points.The Sensex of the S&P Bombay Stock Exchange (BSE), which opened at 25,136.71 points, provisionally closed at 25,248.56 points (at 3.30 p.m.) — up 212.52 points or 0.85 percent from the previous day’s close at 25,036.05 points.The Sensex touched a high of 25,289.58 points and a low of 25,034.14 points during the intra-day trade.The barometer index had receded by 1,134.23 points during the last six consecutive sessions, whereas the NSE Nifty declined by 343 points.Market observers said that short coverings of position by investors led the relief rally after six consecutive days of losses.”Markets ended in the green after six straight sessions of losses led by covering of short positions by traders,” Vaibhav Agarwal, vice president and research head at Angel Broking, told IANS.Agarwal pointed out that markets positive trajectory might be short-lived due to the logjam in parliament and absence of fresh triggers.”We do not expect any meaningful upside from current levels in the absence of any major trigger,” Agarwal elaborated.”Investors will watch out for inflation and industrial production data over the next couple of days, for further direction. We also expect volatility to spike next week ahead of the US FOMC (Federal Open Market Committee) meet.”Lately investors confidence was eroded due to the logjam in parliament which has dimmed the prospects of the Goods and Services Tax (GST) bill getting passed during the winter session.Should the bill not secure clearance in this session, it will miss its intended roll-out date of 1 April next year.Moreover, the continued selling of equities by the foreign investors ahead of a likely US rate hike spooked investors.Apart from value buying and short coverings, forecast of positive monthly industrial output and inflation data points slated to be released on Friday brought back investors said Anand James, co-head, technical research desk with Geojit BNP Paribas Financial Services.”Forecast and expectations of healthy index of industrial production (IIP) data and cooling of consumer price index (CPI) has added positive sentiment to the markets,” James told IANS.last_img read more

31 Aug

New holographic radar system can track high speed shells

first_img One of the costs associated with training military personnel is in the constant replacement of targets. To get around this problem, the DoD sent out a request for development of a system that would allow for shooting at “off-sets” – positions that are close enough to the target to measure hits versus misses, without damaging the actual target. To achieve good results in such a system, a trainee would need to see not just where the shells he’s firing are landing, but the trajectory they take in getting there. Such information helps in plotting where to send the next rounds so as to move ever closer to the intended target, improving accuracy in the process.To address the problem, engineers from Cambridge Consultants designed an entirely new kind of radar; one that uses 3D technology to create a realistic holographic image in real time that shows the trajectory of rounds fired as well as where they burst in the air or when they hit a target; all of this in a 360° image. More information: www.cambridgeconsultants.com/news_pr304.html Citation: New holographic radar system can track high speed shells (2011, September 23) retrieved 18 August 2019 from https://phys.org/news/2011-09-holographic-radar-track-high-shells.html This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only. (PhysOrg.com) — The British firm Cambridge Consultants has announced the successful test of its new 3D holographic radar system that can track fired shells traveling up to 1000 miles per hour. The new system called the Land and Surface Target Scorer (LSTS) and developed for the U.S. Department of Defense (DoD), is expected to help lower the cost of training and hopefully defend against small high speed enemies. GPS-Based Fuze Expected To Triple Cannon’s Accuracy The biggest hurdle the team faced was in differentiating the shell it was tracking from surrounding “noise.” In real world environments, everything from moving water to other projectiles to debris fragments can produce radar hits making it difficult to discern what is what. The new system had to have a way of clearing all the other stuff away to allow the person manning the gun to see very clearly where his round was going. And that’s just what the recent demo of the system showed, an ability to track 5 inch shells being fired at a rate of one every three seconds.In addition to saving money on targets, such a system should also lower the cost of ammunition as it appears such a system would reduce training time. The DoD is also hoping to employ the new technology to help in tracking small fast moving targets, such as terrorists in a rubber dingy out to blow up portions of a ship as was done with the USS Cole in 2000. Explore further © 2011 PhysOrg.comlast_img read more

31 Aug

Missing Delhi resident found murdered in Sonipat

first_imgA 23-year-old youth and resident of New Delhi, who had gone missing since April 15 was found murdered in the agricultural fields of Dhundpur village of Rai sub-division, Sonipat on Saturday evening.The victim was identified as Chintan Saini, a resident of Rohini. His highly decomposed body was recovered from the wheat fields of the village. Inspector Savit Kumar, SHO of the Rai police station said that farm labourers spotted the dead body at around 5.30pm. “The body had injury marks on the face. This could have been done to mislead the police about the identity of the deceased. On searching through his clothes, we found his driving license issued from New Delhi. On enquiries, it was revealed that the victim had gone missing from New Delhi and an abduction case has also been registered,” the SHO said.After initiating preliminary investigation, the body has been sent to the civil hospital for autopsy.The victim was jobless and had got married five months ago, the SHO added.Post the filing of report, a police party from Rohini police station of New Delhi headed by an inspector had reached Sonipat. The kins of the deceased too had reached Sonipat to initiate the inquest proceedings.last_img read more