Chang Shun-Chi (James) has been appointed non-ED wef Aug 13
Work experience: Founder Maxmart Shipping & Trading Corp, Taipei
Courage Marine Group, the dry bulk shipper of raw materials, recorded a net profit of US$5.2 million ($7.1 million) for the three months ended 30 June 2010 (2Q2010) compared to a net loss of US$0.9 million in 2Q2009.
Group turnover surged 168% in 2Q2010 to US$16.3 million from US$6.1 million in 1Q2009. This was due to the steady recovery in dry bulk rates and better fleet utiliation, which was around 90% in 2Q2010 given the higher demand from the commodity trading, especially in Greater China Region compared to the fleet utiliation of around 70% in 2Q2009.
Courage Marine Group, the dry bulk shipper that transports raw materials for Asia’s growing energy needs, has posted earnings of US$3 million ($4.2 million) for the three months ended 31 March 2010 (1Q2010) compared to a loss of US$578,000 for 1Q2009.
Courage Marine Group, the dry bulk shipper that transport raw materials, has bought a newer Capesize vessel for US$10 million ($13.7 million) to replace MV Cape Ore.
The acquisition will initially be funded via internal resources. The vessel will be delivered around the end of May and the beginning of June.
Inclusive of this Capesize and Panamax-sized vessel acquired in April, the group now has a total of 10 vessels with 3 handysize, 2 Handymax, 4 Panamax and 1 Capesize dry bulk carriers.
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Singapore’s benchmark Straits Times Index (.FTSTI) rose 0.44% yesterday to 2,980.69 points. US stocks staged a late-day comeback last night as strong quarterly profits from consumer bellwethers like Starbucks Corp (SBUX.O) outweighed worries about Greece’s shaky finances.
Keppel Corp, the world’s largest offshore oil rig-maker, said its outlook is brightening after strong orders in the first quarter and it posted a better-than-expected 13% rise in profit.
Noble Group said it has acquired 25% stake in Mexican port terminal, Terminales Portuarias del Pacifico. The company did not disclose the financial details of the deal.
Renewable Energy Asia Group has won a $7.4 million contract to design, manufacture and supply wind turbine towers for a 49.5 megawatt (MW) wind farm located in Huaishuo, Guyang County, Inner Mongolia.
Courage Marine Group, the dry-bulk shipper, has successfully launched its newly acquired pre-owned 130,000 dwt vessel.
This new vessel, MV Cape Ore (ex-MV Constantinoupolis), joined the fleet yesterday in servicing the Asia region, mainly delivering coal, iron ore and bauxite. With its larger capacity, this vessel will bring greater cost efficiency to the group, says Courage Marine.
Singapore’s Straits Times Index closed little changed at 2,772.20. The same number of stocks dropped as those that rose on the 30-member gauge.
Last night, US stocks ended slightly higher as mergers and acquisitions supported selected sectors, but investors pulled back from recent gains in some big-cap technology and bank shares.
Courage Marine Group reported a 53% increase in revenue to US$11.4 million ($16 million) for the three months ended Dec 31 as dry bulk freight rates recovered. The rise in the Baltic Dry Index from an average of 2,000 points in 4Q2008 to about 3,000 in 4Q2009 coupled with a gain on disposal of vessel lifted earnings by 91% to US$2.9 million.
Obama is planning to “shame” the big banks who are not agreeing to modify mortgages.This is a repeat of Bernanke’s play book … scold the giant banks for failing to lend, but then give them a pat on the back and a wink.As Robert Reich points out:Shame…
MIDLAKE SET TO RELEASE AMBITIOUS, ENGROSSING NEW ALBUM THE COURAGE OF OTHERS
THEIR FIRST IN OVER THREE YEARS – ON FEB 2 VIA BELLA UNION
FIRST U.S. TOUR DATES SINCE 2007 ANNOUNCED
 Midlake |
On February 2, 2010 Bella Union will release the eagerly anticipated new Midlake album The Courage of Others, the follow-up to the group’s 2006 breakout The Trials of Van Occupanther. The eleven original songs on Courage were written by Tim Smith and produced by Midlake at their new custom-built studio in Denton, TX. The band’s lineup remains: singer Tim Smith, Paul Alexander on bass, drummer McKenzie Smith, and guitarists Eric Pulido and Eric Nichelson.
Courage builds on the complex textures that made Van Occupanther a touchstone, revealing breathtaking soundscapes and bygone eras. Equal parts intimate and epic, the album evokes a cloistered world of its own with dreamlike melodies, stunning vocal harmonies and ambitious arrangements.
Midlake took a two year break from the road to focus on the new album, but will tour extensively in 2010, with an initial string of dates and a return to SXSW – genesis of the Van Occupanther groundswell in 2006 – already confirmed.
Reviewing one of their last U.S. shows in 2007, SPIN Magazine observed that the new song “Children of Grounds,” which appears on Courage, “pointed toward further ascension,” with “brooding atmospherics and guitar-face rockin.’”
The Courage of Others track list:
Acts of Man
Winter Dies
Small Mountain
Core of Nature
Fortune
Rulers, Ruling All Things
Children of the Grounds
Bring Down
The Horn
The Courage of Others
In The Ground
Midlake 2010 tour dates so far (more to be announced soon):
01.05 Baton Rouge, LA Spanish Moon
01.06 Tallahassee, FL Engine Room
01.07 Orlando, FL The Social
01.08 St. Augustine, FL Cafe Eleven
01.09 Mt. Pleasant, SC Village Tavern
01.10 Asheville, NC Grey Eagle
01.11 Memphis, TN Hi-Tone
01.12 Little Rock, Rev Room
