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first_imgThe question would appear to be what will happen if the company fails to source additional funding before December 15 to make principal repayments on its loans. In its press release, TBS International explained that it had sold three ships, two tweendeckers and one regular bulker, for a total price of USD16 million in the past three weeks to free up cash to reduce debt, explaining that negotiations with lenders will require the further sale of vessels. These comments came as the Nasdaq-listed tweendecker and dry bulk shipping company unveiled a third quarter net loss of USD21.2 million, more than twice that of the third quarter 2010. Readers will recall that in September TBS secured another stay of execution, when its lenders agreed not to enforce their loans; at least the fourth reprieve from lenders since 2010. Ferdinand V. Lepere, senior executive vice president and chief financial officer, commented: “TBS’ results for the third quarter 2011 reflect the weakness in the global marketplace for the transportation of dry bulk cargo, along with the over-supply of dry bulk vessels which continues to have an adverse effect on freight rates and the continued high cost of fuel. During the third quarter 2011, revenues decreased by 4.1 percent, compared to the same period in 2010. “The Company was not in compliance with all financial covenants relating to its debt at September 30, 2011. We have classified the entire amount of outstanding debt as a current liability in the consolidated balance sheet at September 30, 2011, in accordance with U.S. GAAP. “As previously announced, on September 7, 2011, we entered into Forbearance Agreements with all lenders under our various credit facilities. The Forbearance Agreements terminate on the earlier of: (i) December 15, 2011 or (ii) the date that the Company fails to comply with any of the terms or undertakings of the Forbearance Agreements and the related credit agreements, as amended, including events of default not identified above. During this negotiation period, we will continue to operate our business as usual, although we did not make the principal payments due September 30, 2011 on such facilities. “During this forbearance period, the Company and its lenders have been discussing a variety of matters, including the restructuring of our indebtedness and the sale of certain vessels. While our discussions with our lenders have not reached the stage where the terms of a restructuring have been agreed upon, we believe that the lenders would not accept that our common equity has any value and, therefore, would not agree to a restructuring in which any value were attributed to our common equity. “Even if the Company is successful in restructuring scheduled principal amounts or the Forbearance Agreements are extended, the Company will still need to raise additional funds to facilitate principal repayments subsequent to December 15, 2011, and to remain in compliance with the minimum cash liquidity covenant or other covenants under its credit facilities. As a result, there continues to be substantial doubt about the company’s ability to continue as a going concern. “On October 19, 2011, we entered into agreements to sell two vessels for an aggregate net sales price of USD11.2 million. On October 31, 2011, we agreed to sell an additional vessel for a net sales price of USD4.8 million. Proceeds from these sales will be utilised to reduce the company’s debt obligations. Excluding the vessels which have been sold, the TBS fleet now comprises 49 ships with an aggregate of 1.5 million dwt tons, consisting of 28 tweendeckers and 21 handysize/handymax bulk carriers. In what some might see as a bizarre conclusion to its press release, given the negative tone of much of the content, TBS said that it remains committed to expanding its fleet, although it did qualify that statement by saying that this would require a significant change in global economic conditions, and that the company has temporarily suspended any further acquisitions of secondhand vessels.last_img read more

first_img Credit: Showtime The season premiere of Ray Donovan season 7 saw Ray (Liev Schreiber) trying to accept help to fix his issues.If you’re not up to date with Ray Donovan and like to avoid spoilers we suggest you don’t read any further.The episode began the day after the season 6 finale, and saw Ray take his father Mickey (Jon Voight) to the FBI to turn himself in. It also showed that Ray had begun to see Dr. Amiot (Alan Alda) for therapy sessions.Four months later, one of the heads of the cops killed by the Donovans was fished out of the water where they dumped them. This led to Detective Perry (Quincy Tyler Bernstine) mobilising a dive team and kicking off an investigation. She paid Ray a visit and he set to work on setting his father up to take the blame again.Elsewhere, Terry (Eddie Marsan) struggled with his health and a chance encounter with a girl saw him attend a tea ritual. Terry spent the afternoon doing yoga, drinking strange tea and vomiting. It also led him to see a vision of his father laying dead.At the end of the episode, the prison truck transporting Mickey collided with a gas tanker. There was a huge explosion and we’re left wondering if Mickey survived. The promo for episode two seems to suggest he died but Ray’s old man has an incredible track record of beating the odds.Watch the promo for Ray Donovan – 7×02 below:The next episode is A Good Man is Hard to Find. Ray must find a new way to get Detective Perry off his trail while reckoning with a personal loss. When Bunchy’s pharmacy is under attack, he takes matters into his own hands and is catapulted into the public spotlight. Daryll’s isolation mounts as he struggles to find his place in the Donovan family.Ray Donovan season 7 episodes air Sundays at 9pm ET/PT on Showtime in the US and Tuesdays at 9pm on Sky Atlantic in the UK. Preview the episode with our gallery below: Credit: Showtime Credit: Showtime Credit: Showtime Credit: Showtime Credit: Showtime Credit: Showtime Credit: Showtime Credit: Showtime Credit: Showtime Credit: Showtime Credit: Showtime Credit: Showtime Credit: Showtimelast_img read more

first_img[av_one_full first min_height=” vertical_alignment=” space=” custom_margin=” margin=’0px’ padding=’0px’ border=” border_color=” radius=’0px’ background_color=” src=” background_position=’top left’ background_repeat=’no-repeat’ animation=”][av_heading heading=’Magnolia captures 5th win as Lee gets injured’ tag=’h3′ style=’blockquote modern-quote’ size=” subheading_active=’subheading_below’ subheading_size=’15’ padding=’10’ color=” custom_font=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”]BY ADRIAN STEWART CO[/av_heading][av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”]January 29, 2018[/av_textblock][av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”] Magnolia Hotshots forward Marc Pingris (left) looks to shoot past TNT KaTropa forward Kelly Williams during their PBA Philippine Cup game on Saturday night, Jan. 27 at the Smart Araneta Coliseum. PBAMANILA – Despite the early exit of Paul Lee, Magnolia Hotshots managed to find ways to smother TNT KaTropa 91-83 in the PBA Philippine Cup at the Smart Araneta Coliseum.Hotshots (5-1) banked on Mark Andy Barroca, who posted 20 points, eight rebounds and five assists; Justin Melton, who had 14; and Jean Marc Pingris and Ian Sangalang, 13 points each.Lee, who had undergone a knee procedure during offseason, failed to finish the Saturday night game after getting injured in the third quarter during a rebound scramble with KaTropa’s Jeth Troy Rosario. He ended up with just 5 points.After an early seesaw battle, Hotshots distanced from KaTropa on consecutive baskets from Barroca and Sangalang for a 26-20 edge at the end of the first quarter.Magnolia’s lead swelled to 9 early in the second but TNT countered with a run to take the lead 30-29. Hotshots regained the lead 39-31 but KaTropa had another run for 45-47 at the half.After losing Lee early in the third, Hotshots got a lease of life behind Barroca, Pingris and Melton and headed to 62-53. KaTropa got close being just a digit behind but hits from Melton gave Hotshots a 74-62 lead heading into the fourth.Hotshots was hanging on to a double-digit edge when KaTropa had its last run behind Kelly Williams and Jayson Castro to come to within 83-87 but back-to-back hits from Barroca sealed the win for Magnolia.“It’s about our discipline on defense. We did a good job on Castro and the rest of their players,” said Hotshots head coach Chito Victolero. “Talagang hindi kami nagpa-outwork sa TNT.”Moala Tautuaa led KaTropa (3-3) with 16 points. Jeth Troy Rosario and Castro added 15 and 14 points, respectively./PN[/av_textblock][/av_one_full]last_img read more

first_imgPENSACOLA, Fla. – UWF Tennis prepare for their first home matches of the 2018 season on Saturday at 1pm. The No. 1 UWF Men’s Tennis will take on No. 22 ranked AUM Men’s Tennis. The No. 5 Women’s Tennisl will face an unranked AUM Women’s Team who are currently 3-2.No. 1 UWF Men’s Tennis is 7-1 and 4-0 in the GSC ahead of Saturday’s matchup with AUM. No. 5 UWF Women’s Tennis is unbeaten with an 8-0 overall record with a 4-0 record in the GSC.UWF have several top ranked players for both men’s and women’s programs. For the women No. 11 Paula Coyos, No. 31 Valeria Mantilla, and No. 36 Diana Vlad will be in action on Saturday. Newcomer Ines Nicault has also had several strong performances and was recently recognized as GSC Player of the Week for her consistent doubles and singles play. Heather Mixon remains unbeaten in singles, adding consistent performances for the Argonauts.For the men No.7 Serdar Bojadjiev, No. 23 Alfonso Castellano, and No. 40 Nicolas Lecoutre will be in action on Saturday versus the No. 7 in the region AUM.AUM has two nationally ranked players including No. 29 ranked Matias Destefanis and No. 50 Eban Straker-Meads.Matches will begin at 1pm CT at the Ralph “Skeeter” Carson Tennis Complex at UWF.Print Friendly Versionlast_img read more

first_img GET THE BEST OF THE JAPAN TIMES Veteran ski jumper Masahiko Harada and Nagano Olympic gold medalist Tae Satoya were added to the Japanese national team Monday with just a month before the start of the Turin Winter Olympics, the Ski Association of Japan said.Harada, who was a member of Japan’s gold-medal winning team in Nagano in 1998, had been in a slump after the 2002 Salt Lake City Games but has rebounded with a steady effort and will take part in his fifth straight Olympics as one of 16 additional members. IN FIVE EASY PIECES WITH TAKE 5last_img read more

first_imgAs Jamaica’s Reggae Girlz get ready for the Pan American Games in Lima, Peru, from July 26 to August 11, they have been hit with the news that captain and central defender Konya Plummer will miss the tournament through injury.However, head coach Hue Menzies, who will also miss a number of players from his FIFA Women’s World Cup squad, says this is a great opportunity for him to test his pool of players and give them valuable experience.“We just got an injury report that Konya Plummer will not be there, so we will replace her with another player. I have already told them (Jamaica Football Federation) who I want, so I am waiting for that to be confirmed,” he revealed.Although Plummer’s leadership will be missed, Menzies believes he has others in the team who can lead, and says it will be time for one of those players to step up to the plate. “We have worked on that. Konya just flips the coin because we have a bunch of leaders, so someone else will step up,” he stated.The absence of the Jamaican captain from the heart of the Reggae Girlz defence is also cause for concern, but Menzies says in first-time invitee, Rachel Smith, he has a competent replacement.“Rachel Smith is a new player, who hasn’t been in the programme yet, but she has been on our radar,” he said. “It’s just that she has been out this year on injury. She would have played in the World Cup, no doubt, but with her injury, we couldn’t take the risk. She is now available, so we are going to bring her in.”He said it was also a chance to test the depths of the player pool and give less experienced players some international game time.“Obviously, it’s not a FIFA-sanctioned date, so the European-based players with their clubs cannot come. So we have to go into the pool of players. We are only allowed to take 18, so we picked 18, but it’s a group we feel we have to rotate with the pool we have.“Hopefully, we can get a medal. It’s hard to say what we are going to do, as it’s a young team and the biggest problem we had at the World Cup was experience. So we have to start to give our players experience, but it’s hard to say how we are going to do. It’s a good team, and I am not going to say we are going to win every game, but we know we are going there to perform,” he said.The Reggae Girlz’s Pan Am Games campaign gets started against Mexico at Estadio Universidad San Marcos on Sunday, July 28. livingston.scott@gleanerjm.comlast_img read more

first_imgChelsea boss Antonio Conte says he gave his table-topping squad three days off this week as a reward for their performances – and to keep them fresh ahead of a busy Christmas and New Year schedule.The Blues won their 11th Premier League game in a row by beating Crystal Palace last weekend, and were then given a short break to recovery both mentally and physically.Thibaut Courtois, Gary Cahill and Nathaniel Chalobah were among those who posted images of their trips abroad on social media.AdChoices广告Diego Costa and N’Golo Kante, who are both suspended for the Boxing Day game with Bournemouth, were allowed an extra day’s rest, while injured skipper John Terry continued to train at Cobham.Conte said the time off was designed to help the players recharge their batteries. See also:Matic backs Batshuayi after Costa banHolland to leave Chelsea for England roleConte keeps Bournemouth guessing over BatshuayiOscar’s move to China is confirmed “I gave [them] three days off because I thought my players deserved this after a really intense period,” Comte said.“We played three games in only six days and I thought that the best way to recover was with three days off.“When you give three days off, you don’t know the destination of your players. But I think the most important thing is to recover, not only with your body but above all with your head.”  Ads by Revcontent Trending Articles Bitcoin Boy’ Says if You’re Not a Millionaire in Two Years, It’s Your Own Fault x This Bizarre Photo Caused Mayhem, Try Not to Gasp when You See Why x Easy Way to Generate Extra Income x Last Nights Episode Left Viewers Speechless! x Final Moment: What the Cameraman Captures Next is Heartbreaking x Pole Vaulter Allison Stokke is Finally Talking About the Photo Changing Her Life x Follow West London Sport on TwitterFind us on Facebooklast_img read more

first_imgLONDON, (Reuters) – Bangladesh piled up their highest one-day International total and bowled superbly to upset South Africa by 21 runs in the Cricket World Cup at The Oval yesterday. It was a major scalp for Bangladesh, underlining their reputation as dangerous outsiders at the tournament, while South Africa slumped to their second successive defeat.Mushfiqur Rahim and Shakib Al Hasan put together a record partnership as Bangladesh made 330 for six after being put into bat.That meant South Africa needed to pull off the highest run chase in World Cup history, but they ended on 309 for eight and with their next game against India on Wednesday, their chances of making the semi-finals are already under threat.Mushfiqur Rahim, above and Shakib Al Hasan put on a record partnership of 142 for the third wicket and Bangladesh went on to score an imposing 330-6. Mushfiqur and Shakib added 142 runs for the third wicket to notch up Bangladesh’s highest World Cup partnership in an aggressive batting display backed by enthusiastic support.Bangladesh moved on to 217-2 before Shakib was bowled for 75 by Imran Tahir in the 36th over while attempting a sweep shot to a full-pitched ball.Mushfiqur went for 78 not long after, caught on the boundary off Andile Phehlukwayo. But South Africa, who lost to hosts England at the same venue on Thursday, were unable to keep the brakes on and continued to leak runs right to the end of the innings.Mahmudullah hit an unbeaten 46 and Mosaddek Hossain scored 26 runs off 20 balls as Bangladesh smashed 54 runs off the last four overs.“It was one of our top innings. We’ve had some previous upsets but this is a World Cup where we really want to do well,” said man-of-the-match Shakib. “It’s the way we wanted to start, you cannot get better than that.”South Africa had gambled on putting Bangladesh, four places below them in the ODI rankings, into bat and hoping to bounce them out cheaply with their pace attack but that fell flat on a docile wicket, and was exacerbated by a hamstring injury to Lungi Ngidi.The fast bowler left the field after bowling just four overs and is a doubt for Wednesday. “Nothing went to plan and I feel we are firing at only 50 to 60% of our potential,” said losing captain Faf du Plessis.South Africa’s target was a tough one and after Quinton de Kock departed, Aiden Markram (45) was bowled by Shakib to make the Bangladeshi all-rounder, playing his 199th ODI, the fastest player to the double of 5,000 runs and 250 wickets.Du Plessis threatened to lead a successful chase but was bowled for 63, followed by David Miller (38) and Rassie van der Dussen (41) as South African hopes slipped away.Mustafizur Rahman returned the best figures of 3-52 but all six bowlers contributed to keeping South Africa in check with a good variety of deliveries.last_img read more

first_imgBRIDGETOWN, Barbados,  CMC – The last batch of West Indies players left the Caribbean on Tuesday to join their teammates in India, ahead of the limited overs series against Afghanistan set to bowl off next week. Players and management began leaving last Sunday for the tour that includes three Twenty20 Internationals, three One-Day Internationals and a one-off Test, and the entire squad is expected to be assembled in the northern India city of Lucknow by today.Test players, like off-spinning all-rounder Rahkeem Cornwall, will join the side later next month after representing his native Leeward Islands Hurricanes in the Regional Super50, with the Test set to begin bowl off November 27.The Super50 runs from November 6 to December 1 in Trinidad and St Kitts. West Indies will face a tough challenge against the Afghans, especially with the series being played on subcontinent “home turf”. The Caribbean side beat their hosts in their last meeting during the ICC World Cup in England earlier this year but it was only the second time in six ODIs they had registered a win over their opponents.Afghanistan drew a three-match series in the Caribbean two years ago but then twice trounced the Windies during the ICC World Cup qualifiers in Zimbabwe last year. West Indies have been more dominant in the T20 format, however, beating Afghanistan in three of four matches.The two sides have never met in a Test.Afghanistan, meanwhile, have quietly assembled for the tour, with captain Rashid Khan the last player to arrive from United Arab Emirates on Tuesday. And team manager Mohammad Nazeem Jaar said the hosts were well prepared for the challenge presented by West Indies.“There has been a lot of change in the mentality of the team since the World Cup in July and we are hoping for a good series here,” he said.“West Indies have been a good side, but we are ready to challenge them on home turf. We had our cricket at Noida and then Dehradun, but Lucknow is altogether a different place.” Afghanistan were only awarded Test status two years ago and bagged their first win last month when they stunned Bangladesh in Chittagong. Like West Indies, they have undergone a change of coach with former South Africa all-rounder Lance Klusener taking over after Phil Simmons stepped down following the World Cup. Ironically Simmons, a former Test all-rounder, has now taken up the head coach role with West Indies.The tourists will play a warm-up match next Tuesday before facing Afghanistan in the opening ODI two days later.last_img read more

first_imgEntering the bye week following the Ravens’ worst loss in his five years as head coach, John Harbaugh preached a message of reflection and evaluation in speaking to the media 24 hours after the 43-13 loss to the Houston Texans.The problems are numerous on both sides of the football despite the Ravens’ 5-2 record and first-place standing in the AFC North, but one of the most concerning aspects through the first seven weeks of the season is the inconsistent play of the offensive line. Quarterback Joe Flacco was sacked four times and had several passes batted down as the Houston defense controlled the line of scrimmage.It was the latest example of the offensive line following a strong performance with a poor outing as the Ravens held Dallas to one sack in Week 6 before allowing the Texans to make life miserable for Flacco throughout the day in Houston on Sunday.“We’re a work in progress,” Harbaugh said. “I’m not going to put a grade on it – it’s just not what we do. We’ve done some really good things, and we’ve done some not so good things.”The offensive line has been in line with the overall “Jekyll and Hyde” personality demonstrated by the Baltimore offense, turning in excellent performances mixed with unacceptable showings. The group struggled to protect Flacco in all three road games this season, allowing 10 sacks in those contests, and allowed the Cleveland Browns to sack the fifth-year quarterback four times in a Week 4 win in Baltimore. However, the line excelled in home wins over Cincinnati, New England, and Dallas, allowing a combined four sacks in those three games.Beginning in training camp with the late arrival of 2011 starting left tackle Bryant McKinnie, Harbaugh emphatically stated the best five linemen would play as the Ravens used a variety of combinations in the preseason before surprisingly settling on Michael Oher at left tackle, Ramon Harewood at left guard, and rookie Kelechi Osemele at right tackle to begin the season. Veteran Bobbie Williams supplanted Harewood in the starting lineup against the Cowboys, but the Ravens appear no closer now to having a comfortable starting lineup than they did in late July.Are more changes coming following the bye week with the offensive coaching staff now having the opportunity to take a step back from game-planning to evaluate its own personnel in a more detailed manner?“That’s a possibility,” Harbaugh said. “We’re not benching guys and putting other guys in there and all that kind of stuff. To me, that wouldn’t be a fair description of what we’re doing. On our offensive line, we’re just trying to find a good mix. [Different] guys are probably going to be playing since we have a mix of young guys and older guys. I would guess we’re going to roll some guys in there and see how they do.”If changes are to be made, the most logical step would be to put McKinnie back in the spot he enjoyed last season with Oher sliding back to the right tackle position he played last season. The move would also allow the Ravens to slide Osemele to the left guard spot where he received plenty of work during spring organized team activities and training camp.McKinnie offers little as a run blocker but is arguably the Ravens’ best pass-blocking tackle. The results with Oher at the left tackle spot have been mixed as it appears the fourth-year offensive lineman is better suited to play on the right side.And with the Ravens hell-bent on being a pass-heavy offensive attack this season — another aspect that could be tweaked during the bye — it would make sense to make the change to improve the outside pass blocking while upgrading the left guard spot where the 36-year-old Williams struggled mightily on Sunday. Of course, McKinnie’s lack of mobility and conditioning concerns would also impact the Ravens’ desire to run the no-huddle offense, which has floundered in three road games this season.McKinnie played 18 snaps on Sunday after Osemele temporarily left the game with a sprained right ankle, but Harbaugh wouldn’t discuss the 33-year-old tackle’s play, citing a minor injury he sustained while playing. It’s no secret the organization was unhappy with McKinnie’s lack of commitment in the offseason and cut his pay less than a week before the start of the regular season.“He got hurt. He’s had a little hip flexor issue that came up during the game,” Harbaugh said. “That’s all he played once he came out with the hip flexor, so it wasn’t that many plays to really evaluate.”The Ravens could also look at the possibility of working Harewood back into the mix as well as second-year tackle Jah Reid, who is finally healthy after dealing with a calf injury for the better part of four months.Pro Bowl right guard Marshal Yanda and veteran center Matt Birk figure to be the only safe bets to remain at their current positions on the starting offensive line, but Harbaugh said  even rookie Gino Gradkowski has made big strides and would be ready to play guard if needed.Regardless of whether the Ravens make wholesale changes or simply confirm the current group as its best starting five, it’s apparent Harbaugh and the coaching staff will be taking a long look up front before their next game on Nov. 4 against the Cleveland Browns.“We’d like to have five guys who are rock solid and who are in there and working with everybody all the time,” Harbaugh said. “It’s really just not where we’re at right now. So, let’s make the best of it and let’s work some guys in there. If we get hot with a group, then we’ll stick with it.”last_img read more

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