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International Seaways Inc
International Seaways, Inc. Third Quarter 2020 Earnings Presentation November 6, 2020 Disclaimer Forward-Looking Statements During the course of this presentation, the Company (International Seaways, Inc. (INSW)) may make forward-looking statements or provide forward-looking information. All statements other than statements of historical facts should be considered forward-looking statements. Some of these statements include words such as ‘‘outlook,’’ ‘‘believe,’’ ‘‘expect,’’ ‘‘potential,’’ ‘‘continue,’’ ‘‘may,’’ ‘‘will,’’ ‘‘should,’’ ‘‘could,’’ ‘‘seek,’’ ‘‘predict,’’ ‘‘intend,’’ ‘‘plan,’’ ‘‘estimate,’’ ‘‘anticipate,’’ ‘‘target,’’ ‘‘project,’’ ‘‘forecast,’’ ‘‘shall,’’ ‘‘contemplate’’ or the negative version of those words or other comparable words. Although they reflect INSW’s current expectations, these statements are not guarantees of future performance, but involve a number of risks, uncertainties, and assumptions which are difficult to predict. Some of the factors that may cause actual outcomes and results to differ materially from those expressed in, or implied by, the forward-looking statements include, but are not necessarily limited to, vessel acquisitions, general economic conditions, competitive pressures, the nature of the Company’s services and their price movements, and the ability to retain key employees. The Company does not undertake to update any forward-looking statements as a result of future developments, new information or otherwise. Non-GAAP Financial Measures Included in this presentation are certain non-GAAP financial measures, including Time Charter Equivalent (“TCE”) revenue, EBITDA, Adjusted EBITDA, and total leverage ratios, designed to complement the financial information presented in accordance with generally accepted accounting principles in the United States of America because management believes such measures are useful to investors. TCE revenues, which represents shipping revenues less voyage expenses, is a measure to compare revenue generated from a voyage charter to revenue generated from a time charter. -
“Bicentennial Speeches (2)” of the Ron Nessen Papers at the Gerald R
The original documents are located in Box 2, folder “Bicentennial Speeches (2)” of the Ron Nessen Papers at the Gerald R. Ford Presidential Library. Copyright Notice The copyright law of the United States (Title 17, United States Code) governs the making of photocopies or other reproductions of copyrighted material. Ron Nessen donated to the United States of America his copyrights in all of his unpublished writings in National Archives collections. Works prepared by U.S. Government employees as part of their official duties are in the public domain. The copyrights to materials written by other individuals or organizations are presumed to remain with them. If you think any of the information displayed in the PDF is subject to a valid copyright claim, please contact the Gerald R. Ford Presidential Library. Digitized from Box 2 of The Ron Nessen Papers at the Gerald R. Ford Presidential Library THE WHITE HOUSE WASHINGTON June 28, 1976 MEMORANDUM FOR ROBERT ORBEN VIA: GWEN ANDERSON FROM: CHARLES MC CALL SUBJECT: PRE-ADVANCE REPORT ON THE PRESIDENT'S ADDRESS AT THE NATIONAL ARCHIVES Attached is some background information regarding the speech the President will make on July 2, 1976 at the National Archives. ***************************************************************** TAB A The Event and the Site TAB B Statement by President Truman dedicating the Shrine for the Delcaration, Constitution, and Bill of Rights, December 15, 1952. r' / ' ' ' • THE WHITE HOUSE WASHINGTON June 28, 1976 MEMORANDUM FOR BOB ORBEN VIA: GWEN ANDERSON FROM: CHARLES MC CALL SUBJECT: NATIONAL ARCHIVES ADDENDUM Since the pre-advance visit to the National Archives, the arrangements have been changed so that the principal speakers will make their addresses inside the building . -
One Hundred Fourth Congress of the United States of America
S. J. Res. 64 One Hundred Fourth Congress of the United States of America AT THE SECOND SESSION Begun and held at the City of Washington on Wednesday, the third day of January, one thousand nine hundred and ninety-six Joint Resolution To commend Operation Sail for its advancement of brotherhood among nations, its continuing commemoration of the history of the United States, and its nurturing of young cadets through training in seamanship. Whereas Operation Sail is a nonprofit corporation dedicated to building good will among nations and encouraging international camaraderie; Whereas Operation Sail has represented and promoted the United States of America in the international tall ship community since 1964, organizing and participating in numerous tall ship events across the United States and around the world; Whereas Operation Sail has worked in partnership with every American President since President John F. Kennedy; Whereas Operation Sail has established a great tradition of celebrating major events and milestones in United States history with a gathering of the world's tall ships, and will continue this great tradition with a gathering of ships in New York Harbor, called OpSail 2000, to celebrate the 224th birthday of the United States of America and to welcome the new millennium; Whereas President Clinton has endorsed OpSail 2000, as Presidents Kennedy, Carter, Reagan, and Bush have endorsed Operation Sail in previous endeavors; Whereas OpSail 2000 promises to be the largest gathering in history of tall ships and other majestic vessels -
ANNUAL REPORT 2016 Corporate Profile
ANNUAL REPORT 2016 Corporate Profile Diana Shipping Inc. (NYSE: DSX) is a global provider of shipping transportation services. We specialize in the ownership of dry bulk vessels. As of April 28, 2017 our fleet consists of 48 dry bulk vessels (4 Newcastlemax, 14 Capesize, 3 Post-Panamax, 4 Kamsarmax and 23 Panamax). The Company also expects to take delivery of one Post-Panamax dry bulk vessel by the middle of May 2017, one Post-Panamax dry bulk vessel by the middle of June 2017 as well as one Kamsarmax dry bulk vessel by the middle of June 2017. As of the same date, the combined carrying capacity of our fleet, excluding the three vessels not yet delivered, is approximately 5.7 million dwt with a weighted average age of 7.91 years. Our fleet is managed by our wholly-owned subsidiary Diana Shipping Services S.A. and our established 50/50 joint venture with Wilhelmsen Ship Management named Diana Wilhelmsen Management Limited in Cyprus. Diana Shipping Inc. also owns approximately 25.7% of the issued and outstanding shares of Diana Containerships Inc. (NASDAQ: DCIX), a global provider of shipping transportation services through its ownership of containerships, that currently owns and operates twelve container vessels (6 Post-Panamax and 6 Panamax). Among the distinguishing strengths that we believe provide us with a competitive advantage in the dry bulk shipping industry are the following: > We own a modern, high quality fleet of dry bulk carriers. > Our fleet includes groups of sister ships, providing operational and scheduling flexibility, as well as cost efficiencies. -
America the Beautiful Part 2
America the Beautiful Part 2 Charlene Notgrass 1 America the Beautiful Part 2 by Charlene Notgrass ISBN 978-1-60999-142-5 Copyright © 2021 Notgrass History. All rights reserved. All product names, brands, and other trademarks mentioned or pictured in this book are used for educational purposes only. No association with or endorsement by the owners of the trademarks is intended. Each trademark remains the property of its respective owner. Unless otherwise noted, scripture quotations are taken from the New American Standard Bible®, Copyright © 1960, 1962, 1963, 1971, 1972, 1973, 1975, 1977, 1995 by the Lockman Foundation. All rights reserved. Used by permission. Cover Images: Statue of Liberty by Mihai_Andritoiu / Shutterstock.com; Immigrants and Trunk courtesy Library of Congress Back Cover Author Photo: Professional Portraits by Kevin Wimpy The image on the preceding page is of the Pacific Ocean near the Channel Islands. No part of this material may be reproduced without permission from the publisher. You may not photocopy this book. If you need additional copies for children in your family or for students in your group or classroom, contact Notgrass History to order them. Printed in the United States of America. Notgrass History Gainesboro, TN 1-800-211-8793 notgrass.com Aspens in Colorado America the Beautiful Part 2 Unit 16: Small Homesteads and Big Businesses ............... 567 Lesson 76 - Our American Story: Reformers and Inventors .....................................................568 19th President Rutherford B. Hayes .......................................................................................575 -
The Impact of the New Panama Canal on Cost-Savings in the Shipping Industry
the International Journal Volume 13 on Marine Navigation Number 3 http://www.transnav.eu and Safety of Sea Transportation September 2019 DOI: 10.12716/1001.13.03.07 The Impact of the New Panama Canal on Cost-savings in the Shipping Industry D. Zupanovic, L. Grbic & M. Baric University of Zadar, Zadar, Croatia ABSTRACT: The passage through the Panama Canal has become the usual waterway for all the ships that can navigate through the Canal. The traffic through the canal is limited by the size of a ship. The need for the expansion of the Canal has emerged due to the development of the global trade and the shipping industry. The new dimensions of the lock‐chambers determine the size of the ships as well. The new generation of ships built to the largest specifications possible to transit the current locks of the canal are called the Post‐Panamax vessels. The maximum dimensions of these ships are 366 meters in length, 49 meters in beam and 15.2 metres in draught. The paper analyses savings in the operational costs on three types of the Post‐Panamax vessels after the Canal expansion. 1 INTRODUCTION The construction of the new and expanded canal enabled the passage of the Post‐Panamax ships. The The construction of the Canal, which lasted for 34 navigation of this category became a standard in the years, introduced the shorter and more efficient route maritime industry and proved the Canal to be of great between the east and west coasts of the United States importance to the world shipping. -
Table of Contents 4.0 Description of the Physical
TABLE OF CONTENTS 4.0 DESCRIPTION OF THE PHYSICAL ENVIRONMENT............................................ 41 4.1 Geology ................................................................................................. 41 4.1.1 Methodology ........................................................................................ 41 4.1.2 Regional Geological Formations........................................................... 42 4.1.3 Local Geological Units ......................................................................... 47 4.1.3.1 Atlantic Coast .......................................................................... 47 4.1.3.2 Gatun Locks.............................................................................. 48 4.1.3.3 Gatun Lake ............................................................................... 49 4.1.3.4 Culebra Cut ......................................................................... ...410 4.1.3.5 Pacific Locks ...........................................................................411 4.1.3.6 Pacific Coast............................................................................412 4.1.4 Paleontological Resources ...................................................................413 4.1.5 Geotechnical Characterization .............................................................417 4.1.6 Tectonics.............................................................................................421 4.2 Geomorphology ..............................................................................................422 -
Climate Change: What Have We Already Observed?
Water resources and ecosystem services examples from Panamá, Puerto Rico, and Venezuela Matthew C. Larsen Director Ecosystem services from forested watersheds mainly product and goods - water resources - wood products - biodiversity, genetic resources, enhanced resilience to wildfire, pathogens, invasive species - recreation, ecotourism - reduced peak river flow during storms - increased availability of groundwater and base flow in streams during dry annual dry season & droughts - reduced soil erosion and landslide probability - buffer to storm surge and tsunamis [forested coastlines] Ecosystem service challenges Land use and governance - deforestation - forest fragmentation - increased wildfire frequency - urban encroachment on forest margins Climate-change - temperature & precipitation, both averages & extremes - intensity, frequency, duration of storms & droughts - sea level rise - rising atmospheric carbon dioxide concentration Climate change: What have we already observed? - 1983 to 2012: warmest 30-year period of last 1400 years northern hemisphere - 1880 to 2012: globally averaged air temps over land & 1928 ocean show warming of 0.85 °C - since 1901: increase in average mid-latitude northern hemisphere land area precipitation - 1979 to 2012: annual mean Arctic sea-ice extent decreased 3.5 to 4.1% per decade 2003 - 1901 to 2010: global mean sea level rose 0.19 m - since mid-19th century: rate of sea level rise has been larger than mean rate during previous 2000 years 2010 Source: IPCC, 2014: Climate Change 2014: Synthesis Report. Contribution of Working Groups I, II and III to the Fifth Assessment Report of the Intergovernmental Panel on Climate Change [Core South Cascade Glacier, U.S Writing Team, R.K. Pachauri and L.A. Meyer (eds.)]. IPCC, Geneva, Switzerland, 151 pp. -
Project JYP-1104 SALT INTRUSION in GATUN LAKE a Major Qualifying
Project JYP-1104 SALT INTRUSION IN GATUN LAKE A Major Qualifying Project submitted to the Faculty of WORCESTER POLYTECHNIC INSTITUTE in partial fulfillment of the requirements for the Degree of Bachelor of Science By Assel Akhmetova Cristina Crespo Edwin Muñiz March 11, 2012 Jeanine D. Plummer, Major Advisor Associate Professor, Civil and Environmental Engineering 1. Gatun Lake 2. Salt Intrusion 3. Panama Canal Abstract The expansion of the Panama Canal is adding another lock lane to the canal, allowing passage of larger ships. Increases in the number of transits and the size of the locks may displace more salt from the oceans into the freshwater lake, Gatun Lake, which is a drinking water source for Panama City. This project evaluated future salinity levels in Gatun Lake. Water quality and hydrometeorological data were input into a predictive hydrodynamic software package to project salinity levels in the lake after the new lock system is completed. Modeling results showed that salinity levels are expected to remain in the freshwater range. In the event that the lake becomes brackish, the team designed a water treatment plant using electrodialysis reversal for salt removal and UV light disinfection. ii Executive Summary The Panama Canal runs from the Pacific Ocean in the southeast to the Atlantic Ocean in the northwest over a watershed area containing the freshwater lake, Gatun Lake. The canal facilitates the transit of 36 ships daily using three sets of locks, which displace large volumes of water into and out of Gatun Lake. The displacement of water has the potential to cause salt intrusion into the freshwater Gatun Lake. -
The Panama Canal: It's All About Connectivity
The Panama Canal: It’s all about connectivity Panama at a glance GDP growth rate – last 10 years 7.5% GDP estimated- 2013 (dollars) 38,6b GDP per capita - 2013 estimated (in dollars) 13,032 Population (million) 3.5 Unemployment rate (in %) 4.0 Inflation rate - 2013 (in %) 4.08 It’s all about Connectivity • 144 trade routes • 1,700 ports • 160 countries The Panama Canal’s value added service The Panama Canal Service Package Economies of Scale Connectivity Sustainability Reliability Reliability • Opens 24 hours a day, 7 days a week, 365 days a year • Safe and secure • 98% customer satisfaction • Strikes not allowed by law; only two closures in its history • Predictability: Published tariffs and fixed transit date with reservation TIME AND DISTANCE SAVINGS ALTERNATE ROUTES PANAMA CANAL SUEZ CAPE HORN CAPE OF GOOD HOPE DAYS DISTANCE DAYS DISTANCE DAYS DISTANCE DAYS DISTANCE East and Gulf Coast US - Asia 20.0 9,640 29.5 14,178 35.6 17,112 31.6 15,417 West Coast South America – 7.3 3,351 43.3 19,776 21.3 9,753 43.1 19,693 East Coast US West Coast South America - 14.1 6,433 39.8 18,184 22 10,506 42.3 19,321 Europe West Coast US - Europe 17.5 8,005 35.5 16,210 30 13,702 42.4 19,385 West Coast Central America – 6.3 2,900 43.2 19,756 24.9 11,379 44.4 20,299 East Coast US Source: Fairplay Distance Table Speed: 20 knots Distance from point to point, travel days without considering port calls Sustainability PanamaCapacity: Canal - 2015 Existing Canal: 330m PC/UMS tons Expanded Canal: 600m PC/UMS tons Expansion Program Components Atlantic Site Post- -
THE PANAMA CANAL REVIEW Number 215 Are in Competitive Jobs With- Mileage Allowance
^) T«f - l-P-03 -G Gift ofthe Panama Canal Museum^ Vol. 5, No. 3 BALBOA HEIGHTS, CANAL ZONE, OCTOBER 1, 1954 5 cents Fearless Foursome TEMPORARY PLAN USED TO COVER VACATION TRAVEL Judging by the avalanche of real and hypothetical questions thrown at the three employees in the Transportation Section of the Administrative Branch, it was fortunate that enactment of the free home leave travel legislation came at the end of the summer vacation season. No subject in many years has stimu- lated more interest or evoked more ques- tions than this. So many inquiries were received by the Transportation Section that a special request was made for em- ployees not planning immediate vacations to delay their questions. The Canal administration moved quick- ly when news was received that President Eisenhower had signed the bill into law. The plan was made effective immediately and employees leaving the next day on the Panama Line were given an oppor- tunity to accept free transportation. The plan is still SLIDING'S FUN and stirs up a breeze on a hot day. These Los Rios youngsters enjoy some of the being operated under equipment at their new play area: Ricky Riesch, Martha Jane Spinney (asked to spell it, she said: "You temporary rules until permanent regula- don't. You say it!"), Madeline Hopson, and Janet Stuart. For more on Canal Zone playgrounds, see tions are formulated. It is expected that page 5. these will be ready for announcement at an early date. First Free Tickets CANAL EMPLOYEES BEGIN TO SEE EFFECTS Travel orders are now being issued for all forms of transportation, and employ- BILL ees leaving today on the S. -
The Less-Splendid Isolation of the South American Continent
news and update ISSN 1948-6596 commentary The less-splendid isolation of the South American continent Only few biogeographic scenarios capture the im- lower Central America (Costa Rica) and South agination as much as the closure of the Isthmus of America (northern Colombia), and that some Panama. The establishment of this connection snapping shrimp populations were already split ended the “splendid isolation” of the South Amer- long before the Isthmus had finally closed (most ican continent (Simpson 1980), a continent that between 7–10 mya but some >15 mya). Next to had been unconnected to any other land mass for this, several papers showed that plants also mi- over 50 million years. When the Isthmus rose out grated between North and South America prior to of the water some 3 million years ago (mya) the the closure of the Isthmus (e.g., Erkens et al. 2007, Great American Biotic Interchange started. Since Bacon et al. 2013), although for plants it is difficult terrestrial biotic interchange was no longer to rule out that this happened via long-distance blocked by the Central American Seaway, dispersal. Thus, the new findings of Montes and (asymmetrical) invasion of taxa across this new colleagues fit much better with a wealth of evi- land bridge transformed biodiversity in North as dence from the biological realm that has been well as South America (Leigh et al. 2014). Or so amassed over the last years, than the old model of the story goes. a relatively rapid rise of the Isthmus. A recent paper by Montes et al. (2015) casts If the land-bridge was available much earli- further serious doubt on this scenario from a geo- er to many terrestrial organisms, the question that logical perspective.