Flex LNG turns to profit on rebalanced market

first_imgFlex LNG, the company controlled by billionaire John Fredriksen and an emerging player in the LNG shipping business turned to a $1.2 million profit in the third quarter of the year compared to a $4 million net loss in the third quarter of 2017. The company also tightened its net loss for the first nine months of the year from $11.7 million in 2017 to $3.5 million during the period under review.Commenting on the results, Øystein Kalleklev, Flex LNG’s CEO and CFO said the company’s improved financial performance in the third quarter and the improved fourth-quarter guidance were helped by the market rebalancing.“Unlike the vast majority of other LNG shipping companies, we decided to strategically pursue shorter-term employment until the shipping market showed signs of rebalancing. The market has now rebalanced with current fixtures now being agreed at all-time high rates,” Kalleklev said.He noted the company expects the LNG shipping market to remain tight due to a combination of a large increase in liquefaction capacity in the near, medium and long-term, limited fleet growth, increased ton/mileage and increased focus on improving air quality favoring the ongoing switch from coal to natural gas.The company today has four vessels on the water and nine additional newbuildings under construction which are set for delivery in 2019-2021, increasing the fleet to a total of thirteen high-end LNG carriers.Flex LNG said it has already covered all available days for the fourth quarter expecting revenues of approximately $35 million in the period, up on the $19 million reported in the quarter under review.last_img read more

Briana Day controls the paint in 73-56 NCAA tournament win against Army

first_imgBriana Day slid across the baseline and lifted her arm in the air. The 6-foot-4 Day towered over Army’s 5-foot-7 Destinee Morris. After leaving Morris’ hands, the ball had only been in the air for a split second before Day swatted it out of bounds and into the front row of seats.Even in Syracuse’s 73-56 win, Black Knights head coach Dave Magarity remembered the play distinctly.“I’m sure Destinee Morris will have nightmares of that block,” Magarity said.The No. 4 seed Orange (26-7, 13-3 Atlantic Coast) blew out No. 13 seed Army (29-3, 17-1 Patriot) on Friday afternoon in the Carrier Dome in the Round of 64 of the NCAA tournament, 73-56, and Day served once again as the defensive stalwart she’s been all year. While only recording three official blocks, she got her hands on several other shots, took two charges and had a game-high 12 rebounds.Six-foot-2 Aimee Oertner, Army’s tallest consistent contributor, picked up four fouls within the first three quarters. She only played 17 minutes in total, allowing Day to have her way inside.AdvertisementThis is placeholder text“We tell our kids to let it fly when they are open, you don’t want to be indecisive,” Magarity said. “But, you may want to incorporate a ball fake in there.”Army’s offense was flustered the entire game. It ranks first in the country in 3-point percentage at 41.6. It averages 70.7 points per game.On Friday, the Black Knights scored just four first-quarter points and 10 in the second.“We didn’t want to foul,” Day said. “Just playing clean basketball, that’s what we talked about.”Orange head coach Quentin Hillsman stressed to his team that when Army does get to the basket, either block the shot or take a charge. Day did both.While Day made her presence felt on the defensive end, she also did it on offense. Her game-high six offensive boards elongated possessions and played a part in SU’s 21 second-chance points. Only one other time this season, has Day recorded at least three blocks and six offensive rebounds.“At the end of the day, she was a tremendous anchor,” Hillsman said, “and got us extra possessions. She had a good game.”A little more than three minutes into the second quarter, Day helped trap Oertner near the sideline at halfcourt. Oertner went to pass the ball to a teammate in the middle, but Day lifted her arms up, engulfed the passing lane and knocked the ball down to herself. Day dribbled half the length of the court and laid in the finger roll. On Army’s next possession, Day stuffed the Black Knights’ Aliyah Murray underneath the basket.Syracuse will next take on Albany on Sunday in the Round of 32. Great Danes forward Shereesha Richards ranks sixth in the country in scoring. But Day’s performance against Army was another example in a season filled with them of the influence she can have.“I don’t know a lot about Albany but we’ve played good teams with good post players,” Day said. “I don’t think it’s going to be a challenge.”It certainly wasn’t one against Army. Comments Published on March 18, 2016 at 11:12 pm Contact Paul: [email protected] | @pschweds Facebook Twitter Google+center_img Related Stories Alexis Peterson leads Syracuse to blowout win over Army in NCAA tournamentSyracuse defense suffocates Army in 73-56 NCAA tournament winlast_img read more


first_imgA young driver who was caught doing doughnuts and then led Gardai on a 15km chase has been fined €500 and banned from driving for two years.Letterkenny courthouse.Daniel Moran appeared at Letterkenny District Court today after being sent on a driving course by Judge Paul Kelly. Moran, 21, who had been charged with dangerous driving, appeared again to see what sentence Judge Kelly would impose on him.Judge Kelly recalled the case and described it as one of the worst cases of dangerous driving he had encountered.However having read the probation report on Moran, of Kilcoona, Headford in Galway, he said it appeared to be a one off case.The incident itself had taken place on June 21st last with Gardai being forced to deploy a stinger device to stop Moran as he drove between Kilross Junction and Drumkeen.Judge Kelly said Moran’s demeanor and the probation report suggested he was at a very low risk of reoffending.“You’re a lucky young man Mr Moran to have support of your family and you’re even more fortunate you are actually here.“The way you drove that night with yourself and your girlfriend, you could have come to a very sorry end,” he said.He fined Moran €250 each on two separate dangerous driving charges and disqualified him from driving for two years for each charge to be served concurrently.YOUNG MAN WHO DID DOUGHNUTS AND LED GARDAI ON A 15KM CHASE IS BANNED was last modified: October 6th, 2014 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:dangerous drivingDaniel MorandonegalDrumkeenletterkennylast_img read more