Navios Partners to Buy 14 Rickmers Boxships

first_imgzoom Greek shipowner and operator Navios Maritime Partners has agreed to acquire the entire container fleet consisting of fourteen ships from Rickmers Maritime for about USD 113 million.“We anticipate acquiring five 4,250 TEU vessels on May 15, 2017. These vessels are employed on charters that have staggered expirations in 2018 and early 2019 at a net daily charter rate of USD 26,850,” Angeliki Frangou, Chairman and Chief Executive Officer of Navios Partners, said.The average age of the fleet, which consists of eleven 4,250 TEU containerships and three 3,450 TEU vessels, is 9.5 years.“Our operating platform was attractive to the Trust and its lending banks because of our disciplined technical and commercial management and favorable operating costs. This acquisition demonstrates our ability to source proprietary deals, and we are continuing to seek exposure to the container sector,” Frangou continued.Navios Partners said that the acquisition, subject to a number of conditions, is being financed through a USD 20 million equity investment by Navios Partners and a secured loan facility under discussion.The company plans to acquire these vessels though a wholly owned subsidiary, Navios Partners Containers Inc., which will be an unrestricted subsidiary as defined in the credit agreement dated March 14, 2017, for the shipowner’s term loan B facility.Earlier in April, Rickmers Trust Management, the trustee-manager of Rickmers Maritime, said that its business would be wound up, as the company’s efforts to reach an agreement with lenders to restructure existing loans fell through.The trust was given until April 15 by the HSH Syndicate, comprising HSH Nordbank and DBS Bank, to come up with a new restructuring plan which would ensure a higher level of total recoveries than under a winding up of the trust.Rickmers Maritime said that the operation of the vessels in question is expected to remain unaffected by the proposed sale.last_img read more

LetsCatchup rolls out alumnireferral network to help jobseekers in India

first_imgThere is no shortage of recruitment platforms on the web. But looking for a job is still a nightmare; employers too, are flooded with resumes and finding the right talent at the right time is a dream shot. While multiple social and referral hiring companies are trying to solve this problem, a Singapore based startup LetsCatchup is changing the Indian recruitment Industry by leveraging the power of alumni networks.The company is backed by Asia’s No.1 business accelerator JFDI Asia, which has invested around $200, 000 in cash and support. The startup went through a rigorous four-month accelerator program; concluded with a grand demo day last month, which was attended by over 100 investor groups from South East Asia.”We have worked with over 50 startups in last 5 years;LetsCatchup has checked all the boxes for building a successful company. With an experienced team and unique business proposition, they clearly excelled in our program.” said, ChiKai Huang, JFDI program Manager.Conventional recruitment portals are mostly job listings based, where hundreds of job seekers compete for one post. This also troubles the employers with huge time and money spent on shortlisting of candidates. LetsCatchup solves this problem with their unique referral-matching engine, explained Vinay Pahlajani, CEO of LetsCATCHUP:”Job seekers spend lot of time in finding the right connections and opportunities. We have developed an engine, which automatically sends them matching opportunities from companies where their peers or seniors are working. They don’t have to visit multiple job boards, if there is a matching job- it will come directly to their inbox.”LetsCATCHUP directly connects job seekers with Industry Insiders to get career advice and job referrals. Every application goes through an internal connection, which ensures faster and better response; at the same time the employers get short-listed and verified resumes through existing employees.The platform leverages college alumni communities to maintain the quality of referrals and is only open for graduates of selected premier Indian Colleges like IIT’s and IIM’s right now. “We are adding new colleges with invitations only; there are 131 colleges in our waitlist already and we plan to open the network by end of this year. Going forward, we’ll expand to company and Industry based networks,” added co-founder, Ruchin Chaudhary.last_img read more

Snap Taps Amazon Exec Jeremi Gorman HuffPost CEO Jared Grusd

first_imgIn addition to these two executive additions, the company also announced a slate of additional hires on Wednesday:Jean Gonié, director of EU policy (previously director of public policy at Amazon) (started in October)Alston Cheek, director of platform partnerships (previously partnerships manager at Apple) (started in October)Steen Strand, director of product design – Snap Lab (previously COO and president at ICON Aircraft) (started in October)Ted Suh, head of music partnerships (previously VP digital music at ByteDance) (started in August)Kristin Southey, VP of investor relations (previously senior VP of finance and investor relations at Athene) (started in late July)Snap has been under fire from investors for its inability to grow its user base in the face of ever-growing competition from Facebook. The company lost 3 million daily active users in its most recent quarter, but has seen ad sales accelerate. It’s stock traded below $7 on Wednesday, which translates to a market capitalization of around $8.75 billion. Popular on Variety Snapchat corporate parent Snap has poached Amazon advertising executive Jeremi Gorman as its new chief business officer while also appointing former Huffington Post CEO Jared Grusd as its new chief strategy officer.The two executives are effectively replacing Snap’s outgoing chief strategy officer Imran Khan, who had announced his departure in September.“I’m proud to have Jeremi and Jared join our team, where they will play an important part in shaping the next chapter for Snap,” CEO Evan Spiegel wrote in an email to Snap employees.Gorman had been with Amazon for close to seven years, and most recently led the e-commerce giant’s global advertising sales. Before that, she worked in ad sales for Yahoo and Variety.Grusd had been leading HuffPost as CEO for the past three years. Before that, he worked for four years as Spotify’s general counsel and global head of corporate development. Other previous stints included executive positions at AOL and Google.center_img ×Actors Reveal Their Favorite Disney PrincessesSeveral actors, like Daisy Ridley, Awkwafina, Jeff Goldblum and Gina Rodriguez, reveal their favorite Disney princesses. Rapunzel, Mulan, Ariel,Tiana, Sleeping Beauty and Jasmine all got some love from the Disney stars.More VideosVolume 0%Press shift question mark to access a list of keyboard shortcutsKeyboard Shortcutsplay/pauseincrease volumedecrease volumeseek forwardsseek backwardstoggle captionstoggle fullscreenmute/unmuteseek to %SPACE↑↓→←cfm0-9Next UpJennifer Lopez Shares How She Became a Mogul04:350.5x1x1.25×1.5x2xLive00:0002:1502:15last_img read more

Nurturing musical talent

first_imgGurugram witnessed a musical concert which was organised on the weekend at the ‘Theme Music World’, DLF Mega Mall Gurugram. Minu Puri, a Music composer and pianist, performed in the concert along with her students where she was accompanied by French jazz pianist and composer, Benjamin Barria, who tried his hand on some of her compositions. Minu Puri heads a school in Gurugram for piano lovers. Her concert featured one of her youngest students Gauri Mishra, who is just 10 years old and is also among the most talented people in her group. She played some of the famous Bollywood numbers and completely won over the audience by her heart-warming performance. Gauri Mishra has created the national record of being the youngest piano player at the tender age of 9. Also Read – Add new books to your shelfThe evening was further graced by a performance by Francis Barria, a singer, composer, and animator with forty years of experience in this field. He was the producer and animator for 11 years of the French show “La nuit des clips” in French National Tours. Francis sang a few jazz numbers and thrilled the audience by singing Hindi songs composed by Minu Puri. Also, he raised the excitement level of the audience by singing a famous Bollywood song ‘Mera Joota hai Japani’. His wonderful rendition forced the audience to leave their seat and dance to their heart’s content. The students of Minu Puri were praised and awarded for their great performances.last_img read more