Coal prices drop on back of temporary ban

first_img News Coal prices drop on back of temporary ban By Daily NK – 2016.12.16 10:59am Facebook Twitter AvatarDaily NKQuestions or comments about this article? Contact us at [email protected] SHARE NewsEconomy News center_img North Korea Market Price Update: June 8, 2021 (Rice and USD Exchange Rate Only) News US dollar and Chinese reminbi plummet against North Korean won once again RELATED ARTICLESMORE FROM AUTHOR With China’s adoption of sanctions on coal imports from North Korea according to UN Security Council Resolution No. 2321, coal prices in North Korea have reportedly fallen from 100 to 70 USD per ton. Due to these developments, North Korean trading companies are reportedly experiencing difficulties in preparing monetary contributions to the Party as the end of the year approaches. “The Chinese government has abruptly suspended coal imports from North Korea since December 10 [a temporary ban to implement UNSC Resolution 2321]. Coal that had already entered China’s ports was allowed to be unloaded, but the remaining trading ships waiting for customs clearance at Port Nampo are all tied up now,” a source close to North Korean affairs in China reported to Daily NK on December 12.“The Chinese trading companies have lowered the coal price for imports to Port Rizhao from 100 USD to 70 USD per ton, ignoring the contract prices and dismissing protests by the North Korean trading companies,” the source added.UNSC Resolution 2270, which was adopted in March following North Korea’s fourth nuclear test and long-range rocket launch , also specified restrictions on imports of coal from the North, but it was not effectively implemented as the controversial “livelihood exception” served as a loophole and was exploited.The new resolution, however, does not allow exports of North Korean coal for public purposes to exceed 409 million USD per year or 7.5 million tons of coal (whichever is lower in terms of total profit). With the Chinese government’s implementation of import control in accordance with the resolution, North Korea’s coal exports will face an inevitable decline.“The North Korean trading companies, who simply believed that coal exports would not be affected much by the adoption of the new UNSC resolution, are at a loss in the face of the current import ban. They have no choice but to accept the lower prices that the Chinese companies are offering,” the source noted.A source in South Pyongan Province added, “The domestic coal market has been dependent on exports to China, with the volume of exports at 1.25 billion USD, or 19.6 million tons in 2015. It is expected to be severely shaken by the loss of income. The foreign currency-earning companies are only hoping for the import ban to be eased from the new year.”According to the sources, most of the companies that export coal to China are controlled by the North Korean army. By the end of the year, these companies are expected to ramp up their efforts and compete among themselves to achieve their mandatory loyalty contributions to the authorities.The North Korean trading companies have no choice but to comply with the loyalty payments, as the authorities distribute trading licenses according to their foreign currency earnings. As a result, it is possible that some trading companies will turn to covert methods, including smuggling, if the import ban is not eased in the near future.“The trading companies used deceptive practices in April, with the Chinese companies borrowing vessels for coal transportation and misrepresenting the trade volume during customs clearance. If the Chinese government does not ease the coal import limit in the near future, it is highly likely that the trading companies will turn to smuggling,” the source in China noted.Professor Jeong Eun Yi of Gyeongsang National University added, “The coal mines operated by foreign-currency earning companies must continuously sell coal to survive. Therefore, these companies are likely to keep trying to smuggle and the Chinese companies will welcome this as the North Korean coal becomes cheaper but retains its same level of quality.” Proposal to shift “general markets” to “specialized markets” finds little support among N. Korean leaderslast_img read more

‘Jamaica Sings’ Initiative Launched

first_imgRelated‘Jamaica Sings’ Initiative Launched Related‘Jamaica Sings’ Initiative Launched Advertisements FacebookTwitterWhatsAppEmail Related‘Jamaica Sings’ Initiative Launchedcenter_img Story HighlightsAs part of celebrations marking Jamaica Day 2013, the Ministries of Youth and Culture, and Education have launched an initiative dubbed: ‘Jamaica Sings – Spirit of Jamaica’, in an effort to further encourage Jamaicans to take pride in the creative aspects of the nation’s culture.Under the ‘Jamaica Sings’ initiative,  Jamaicans from all walks of life are being urged to celebrate Jamaica Day 2013 on Friday, February 22, by wearing the national colours, eating Jamaican foods, and singing Jamaican songs.Jamaica 50 Coordinator, Ministry of Education, Dr. Winsome Gordon, informed Friday’s (February 15) media launch of the event at Jamaica House that ‘Jamaica Sings’ “will be taking advantage of Jamaica Day to invite Jamaicans to sing and to celebrate their ‘Jamaicaness’.” ‘Jamaica Sings’ Initiative Launched CultureFebruary 18, 2013Written by: Athaliah Reynolds-Baker As part of celebrations marking Jamaica Day 2013, the Ministries of Youth and Culture, and Education have launched an initiative dubbed: ‘Jamaica Sings – Spirit of Jamaica’, in an effort to further encourage Jamaicans to take pride in the creative aspects of the nation’s culture.Under the ‘Jamaica Sings’ initiative,  Jamaicans from all walks of life are being urged to celebrate Jamaica Day 2013 on Friday, February 22, by wearing the national colours, eating Jamaican foods, and singing Jamaican songs.Jamaica 50 Coordinator, Ministry of Education, Dr. Winsome Gordon, informed Friday’s (February 15) media launch of the event at Jamaica House that ‘Jamaica Sings’ “will be taking advantage of Jamaica Day to invite Jamaicans to sing and to celebrate their ‘Jamaicaness’.”“Jamaica Sings is the Ministry of Education’s contribution to the 50th anniversary celebrations and we expect that it will become a legacy,” she said.Dr. Gordon noted that ‘Jamaica Sings’ also aims to encourage the preservation of Jamaica’s rich cultural legacy.“It’s a day when we will, in our own houses, have Jamaican foods, invite friends to come and visit us, reflect on some of the issues that we have and try to find positive things about us and try to find ways of helping ourselves as a people,” she stated.Dr. Gordon also noted that as part of the day’s celebrations, Jamaicans are being asked pause whatever activities they are engaged in at 11:45 a.m. and sing Bob Marley’s ‘One Love’, as well as recite the words of the National Pledge, as a show of unity.Members of the business and school communities are also being encouraged to host lunch hour or after school concerts. Additionally, members of the Church community are being encouraged to open their doors between the hours of 6:00 p.m. and 7:30 p.m. for praise and worship sessions.“We are inviting all the churches in Jamaica… to sing songs of praises for the good things we have received from God and for the courage to go forward as a people,” she remarked.For his part, Permanent Secretary, Ministry of Youth and Culture, Sydney Bartley, said singing is an integral part of Jamaica’s cultural legacy, dating back to the days of slavery. He noted that this important legacy must be cherished, preserved and transmitted to the youths.“There is a wrong impression that we only sing because we’re happy; but we sing in every situation. When we (are) washing, we (are) singing. When we (are) cleaning, we (are) singing… It is very true to say that one of the bases on which we survived slavery was through singing,” he remarked.Jamaica Day 2013 will be celebrated under the theme ‘Celebrating Jamaica: I‘m On It’. The event is one of the flagship projects of the Culture in Education Programme and is intended to foster a greater spirit of patriotism and responsible citizenship.It is also a day for all schools to engage with the communities in which they are located, and the nation, as a whole, to mount a big celebration of Jamaica around a specific theme.last_img read more

NAI Horizon announces 11 completed transactions

first_imgNAI Horizon announced eleven of its most recent transactions in the Phoenix area. Here’s a breakdown of the completed deals:Sale Transactions:Isy Sonabend negotiated the sale of a 48,000-square-foot industrial property, representing the buyer, 2600 W. McDowell Rd., LLC, for $2.786 million. The property is located at 2600 W. McDowell Rd., Phoenix, AZ 85009. Bill Honsaker with JLL represented the seller, Rush Truck Centers of Arizona Inc.Rick Foss negotiated the sale of a 10,750-square-foot industrial property, representing the seller, Joshua Sunshine, for $787,644. The property is located at 2522 W. Geneva Dr., Tempe, AZ 85282.Jeff Adams negotiated the sale of a 52,922-square-foot industrial property, representing the buyer, American Home Water & Air, LLC, for $290,000. The property is located at 23439 N. 35th Dr., Phoenix, AZ 85027. Scott Wiley, Principal at Tri Points Realty, represented the seller.Lease Transactions:Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the tenant, Planet Fitness, in a 132-month retail lease for a 23,2360-square-foot space at 7565 W. Peoria, AZ 85345. Scott Smith with Capital Asset Management represented the landlord, New Generation Development Group of Arizona, LLC.Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the tenant, Ken’s Nails-Salon & Spa, in an 88-month retail lease for a 2,300-square-foot space at 2131 E. Camelback Rd., Phoenix, AZ 85016.Andrew Veatch and Troy Giammarco represented the tenant, Cholla Medical Group, Inc., in a 52-month office lease for a 6,264-square-foot space at 10631 S. 51st St., Phoenix, AZ 85044. Richard Burton with Realty Arizona Elite Group represented the landlord, Wilson Properties, LLC.Laurel Lewis represented the tenant, Atwell Group, in a 38-month office lease for a 2,250-square-foot space at 4200 N. Marshall Way, Scottsdale, AZ.Nathan Pancrazi and Troy Giammarco represented the tenant, Arizona Life Chiropractic, in a 65-month office lease for a 2,298-square-foot space at 4150 W. Peoria Ave., Phoenix, AZ 85029. The landlord, Tlaquepaque Office Plaza, Inc., was self represented.Isy Sonabend represented both tenant and landlord, Vanco, LLC and PAZ Holdings, LLC in a 60-month industrial lease for a 5,354-square-foot space at 3919-3925 E. Miami, Phoenix, AZ 85040Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the tenant, Oportun, in a 60-month retail lease for a 2,016-square-foot space at 5127 W. Indian School Rd., Phoenix, AZ 85031. Chris Campbell with Cushman & Wakefield represented the landlord, Maryville Plaza IA, LLC.Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the landlord, CP6GT, LLC, in a 60-month retail lease for a 2,400-square-foot space at 5870 W. Thunderbird Rd., Glendale, AZ 85306.last_img read more

Delphi CFO Alan Dawes Resigns Amid SEC Investigation

first_imgTROY, MI — The board of directors for Delphi Corp. announced this morning that Vice Chairman and CFO Alan Dawes is leaving the company and has resigned from its board of directors and its strategy board. AdvertisementClick Here to Read MoreAdvertisement In related news, the company said it will file an 8K today updating investors on the status of its internal investigation with regard to the accounting for certain historical transactions. “Dawes agreed to resign after the audit committee expressed a loss of confidence in him,” said Robert Brust, executive vice president and CFO of Eastman Kodak Co. and the outside director who chairs Delphi’s audit committee. Brust also said the internal investigation by the audit committee is ongoing and that the company continues to cooperate fully with the SEC’s investigation. John Sheehan has been named acting CFO, effective immediately. Sheehan is the company’s chief accounting officer and controller and will retain those responsibilities while serving as interim CFO. He has been named to the Delphi strategy board and will report to Chairman and CEO J. T. Battenberg III. Sheehan joined Delphi from KPMG LLP in July 2002, where he had been a partner. His experience includes 20 years at KPMG LLP in a number of assignments in the United States, England and Germany. He is a licensed CPA in Michigan and Connecticut and a member of the American Institute of Certified Public Accountants. Sheehan also served as president of the board of directors for the International School of Stuttgart, Germany from 1999-2001. Advertisement Brust said that Sheehan’s strong background in public accounting, in conjunction with his current responsibilities, will help assure a smooth transition until a permanent CFO is named. The Delphi board will conduct an internal and external search for a permanent CFO. In related moves, Delphi’s chief accountant and controller Paul Free has also left the company, and the vice president of treasury, mergers and acquisitions, and new markets, has been reassigned to a non-officer position. _______________________________________ Click here to view the rest of today’s headlines.last_img read more

Praxair expands hydrogen supply to Motiva Port Arthur

first_imgSubscribe Get instant access to must-read content today!To access hundreds of features, subscribe today! At a time when the world is forced to go digital more than ever before just to stay connected, discover the in-depth content our subscribers receive every month by subscribing to gasworld.Don’t just stay connected, stay at the forefront – join gasworld and become a subscriber to access all of our must-read content online from just $270.last_img

Women’s Basketball Announces 2018-19 Schedule

first_img Print Friendly Version PENSACOLA, Fla. – Head coach Stephanie Lawrence Yelton announced the 2018-19 UWF women’s basketball scheduled on Tuesday and it features 13 home contests and eight games against last year’s postseason teams.The Argonauts will open the year at the GSC-SIAC Challenge in Valdosta, Ga. against Albany State and Fort Valley State before stepping out of region play to face North Georgia and Georgia College at the UNG Nighthawk Classic a week later.UWF will open home play with a 5-game homestand on Nov. 20, hosting Spring Hill in a doubleheader with the men’s programs. The Argos will return from Thanksgiving with Gulf South Conference openers against Christian Brothers and defending champion Union, Nov. 29 and Dec. 1, respectively.Non-conference matchups with Tuskegee and Columbus State will send the team into the week of final exams, before closing the calendar year at Alabama Huntsville and Lee.UWF travels to Valdosta State on Jan. 3 and then hosts Montevallo two days later before a road swing through the two Mississippi schools – Delta State and Mississippi College – on Jan. 10 & 12.The Argos welcome Shorter and West Georgia to the Field House Jan. 17 & 19 before home-and-home contests with West Alabama and Auburn-Montgomery the following two weekends.A road trip to Shorter and West Georgia follows before returning to Pensacola for a Valentine’s Day contest with Delta State and Feb. 16 battle with Mississippi College.The regular-season will conclude with a home game against Valdosta State and road contest at Montevallo.The GSC Tournament will have first round games on Tuesday, Feb. 26 with the semifinals and finals retutning to the Pete Hanna Center in Birmingham, Ala., March 9-10.last_img read more

New Case Of COVID-19 On The Kenai; Two New Nonresident cases Reported

first_imgFacebookTwitterEmailPrintFriendly分享The Alaska Department of Health and Social Services (DHSS) announced one new case of COVID-19 in the Kenai Peninsula Borough, on Monday. Two new nonresident cases were also identified in seafood industry workers employed by a Kenai Peninsula Borough seafood processor. This brings the total Alaska case count to 409. This report reflects data from 12:00 a.m. until 11:59 p.m. on May 24 that posted at noon today on the Alaska Coronavirus Response Hub. Nonresident cases are not part of the Alaska case counts; they are listed separately. Two new nonresident cases were identified yesterday in seafood industry workers employed by a Kenai Peninsula Borough seafood processor. Both workers were asymptomatic. According to the company’s protocol required by the State of Alaska under State Health Mandate 10, the individuals were screened in Anchorage upon arrival and then traveled by private bus to their quarantine location where they were tested along with approximately 35 other seafood workers employed by same company. All employees quarantined upon arriving at their final destination; the two individuals who tested positive for COVID-19 are now in a separate building isolated from other employees. The new Alaska case is a male aged 30-39 years. There have been a total of 45 hospitalizations and 10 deaths with no new hospitalizations and no new deaths reported yesterday. Public health nurses and the DHSS Section of Epidemiology are investigating all three cases, working with the seafood company and community partners. Recovered cases now total 361, with three new recovered cases recorded yesterday. A total of 44,472 tests have been conducted.last_img read more