Posted on Leave a comment

Evergreen Line Names Its Eighteenth L-Type Vessel

first_imgIn his speech Mr. Raymond Lin, Vice Group Chairman said, “The L-type vessels are a major part of our fleet renewal program. The fuel efficient ships have significantly reduced the carbon footprint of our operation. The newbuildings will continue to replace old ships in our fleet and enable Evergreen Line to provide marine transportation service in the most eco-friendly way.”EVER LOYAL is owned by Evergreen Marine Corp. The new ship is 334.8 meters in length, 45.8 meters wide, with 942 reefer plugs and a draft of 14.2 meters. The vessel can cruise at a speed up to 24.5 knots. After her delivery on 20th March, she will join Evergreen Line’s Far East – Arabian Persian Gulf service, replacing an older vessel.Evergreen Line commenced its fleet renewal program in 2010 at a time when shipbuilding costs reached cost-effective levels. The project entailed ordering of thirty L-type vessels and chartering a further five 8,800 teu units as well as ten of 13,800 teu. Furthermore, in order to meet the tonnage demand of alliance commitments, the carrier has also signed charter agreements for ten 14,000 teu vessels. The delivery of these newbuildings, scheduled between now and 2017, will be balanced by the redelivery of ships currently on charter when these agreements expire.Evergreen Line, March 19, 2014 zoom Evergreen Group yesterday held the naming ceremony for the EVER LOYAL, the eighteenth of the line’s L-type vessels built by Samsung Heavy Industries.last_img read more

Posted on Leave a comment

Rona Inc posts loss higher revenue ahead of takeover by Lowes

BOUCHERVILLE, Que. — Rona Inc. says it lost money in this year’s first quarter but overall revenue increased despite weak sales in the Prairies.The Quebec-based home improvement retailer is slated to become a subsidiary of Lowe’s following a friendly $3.2-billion takeover deal announced in February.Rona (TSX:RON) posted a $16.5 million net loss or 15 cents per share for the quarter ended March 27.Rona shareholders overwhelmingly approve $3.2 billion Lowe’s takeoverRona Inc tops estimates in potentially last report as Canadian-controlled retailerThe quarter’s loss included $3.5 million or three cents per share of restructuring costs and $4.1 million or four cents per share of acquisition costs.Revenue was $819.2 million, up from $778.8 million a year earlier. Same-store sales grew 3.1 per cent with strong performance in Ontario, British Columbia and the Reno-Depot banner in Quebec. The company saw a decline in Prairie same-store sales.After excluding restructuring and other items, Rona’s adjusted loss was $9 million or eight cents per share.By comparison, Rona’s net loss in the first quarter of 2015 was $11.7 million or 11 cents per share including minimal restructuring costs. Its adjusted loss was $11.2 million or 10 cents per share. read more