T.J. Osborne is sharing with the world what those close to him have privately known for years. In a candid interview with Time magazine, the Brothers Osborne frontman revealed that he’s gay.
T.J. Osborne is sharing with the world what those close to him have privately known for years. In a candid interview with Time magazine, the Brothers Osborne frontman revealed that he’s gay.
Police in Sri Lanka said Monday they have arrested two people in connection with the death of a 9-year-old girl who was repeatedly beaten during a ritual they believed would drive away an evil spirit. According to police spokesperson Ajith Rohana, the mother believed her daughter had been possessed by a demon and took her to the home of the exorcist so a ritual could be performed to drive the spirit away.
The release of Myanmar's State Counsellor and Foreign Minister Aung San Suu Kyi is key to achieving a "long-term peaceful political solution" to the country's current unrest, said Foreign Minister Vivian Balakrishnan in Parliament on Monday (1 March).
Britain's multi-billion pound supermarket industry is placing its bets on whether big-spending older shoppers will stick with buying their groceries online when months of lockdown end. Having more than doubled during the COVID-19 pandemic to represent 16% of Britain's roughly 200 billion pound ($281 billion) food retail market, the country has one of the world's highest take-ups of online grocery. Ocado boss Tim Steiner says it's here to stay and will carry on growing quickly.
"The Crown" star Emma Corrin, who plays Princess Diana, talked backstage at the Golden Globes about Prince Harry's reaction to the BBC show.
The 78th annual Golden Globes honored Hollywood's best movies and TV shows Sunday. Who won big at NBC's bicoastal awards show?
In an industrial neighborhood on the outskirts of Bangladesh’s largest city lies a factory with gleaming new equipment imported from Germany, its immaculate hallways lined with hermetically sealed rooms. It is one of three factories that The Associated Press found on three continents whose owners say they could start producing hundreds of millions of COVID-19 vaccines on short notice if only they had the blueprints and technical know-how. Across Africa and Southeast Asia, governments and aid groups, as well as the WHO, are calling on pharmaceutical companies to share their patent information more broadly to meet a yawning global shortfall in a pandemic that already has claimed nearly 2.5 million lives.
One clear lesson from last week is that the European Central Bank hasn't been able to stop euro zone yields from rising. Verbal intervention by ECB President Christine Lagarde, Chief Economist Philip Lane and board member Isabel Schnabel failed at keeping a lid on a rise that is pretty much imported from the U.S. where another round of stimulus, now on its way to the Senate, is fuelling inflation fears. So like the famous Elvis Presley song, pressure will grow for a little less conversation and little more action given there's almost 1 trillion euros left to spend in the ECB's PEPP arsenal.
The pro-democracy figures are accused of "subversion" under the controversial security legislation.
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“I am very pleased that our integrated One TORM platform enabled us to deliver a solid EBITDA of USD 272m and a considerable cash return to shareholders totaling USD 71m in dividends during 2020. I am further pleased that our commitment to minimize environmental impact has enabled us to reduce greenhouse gas emissions by 22% since 2008, showing a clear path towards our ambitious target of 40% reduction by 2030.” says Mr. Jacob Meldgaard, Executive Director. In 2020, TORM realized an EBITDA of USD 272m (2019: USD 202m). The 2020 profit before tax amounted to USD 90m (2019: USD 167m). The net profit adjusted for non-recurring items was USD 122m (2019: USD 51m) and Adjusted Return on Invested Capital (RoIC) was a very strong 9.3% (2019: 5.2%). For the full-year 2020, TORM achieved TCE rates of USD/day 19,800 (2019: USD/day 16,526). In the first half of the year, product tanker rates reached all-time-high levels following the significant market disruption caused by the COVID-19 outbreak and OPEC+ oil price war. In the second half of the year, the product tanker market went into a downturn and together with substantial draws on global oil stocks, the product tanker rates declined as product stocks normalized. In 2020, TORM contracted two LR2 newbuildings, purchased two 2010-built MR vessels and sold eight older vessels. The two LR2 newbuildings are scheduled to be delivered in the fourth quarter of 2021 and the first quarter of 2022. One of the 2010-built MR vessels was delivered in 2020 and one was delivered in January 2021. Further, TORM took delivery of four vessels under its newbuilding program in 2020. As of 31 December 2020, TORM’s order book consisted of the two LR2 newbuildings and the remaining 2010-built MR vessel. The total outstanding CAPEX related to the order book, including costs related to the installation of scrubbers, amounted to USD 101m. The vessel sales cover two LR2s and six MRs for a total consideration of USD 77m. The vessels were delivered to their new owners in 2020 and debt of USD 41m has been repaid. As of 31 December 2020, TORM’s fleet consisted of 64 owned vessels, eight vessels under sale and leaseback agreements, two vessels on order and one second-hand vessel to be delivered to TORM. In the first quarter of 2021, TORM has entered into an agreement to purchase eight 2007-2012 built MR product tanker vessels for a total cash consideration of USD 82.5m and the issuance of 5.97 million shares. Subject to documentation, TORM has obtained financing of up to USD 94m for the vessels that are scheduled to be delivered to TORM in the second and third quarter of 2021. During the COVID-19 pandemic, TORM has fully maintained its excellent operations thanks to the One TORM platform. This is especially due to extraordinary and very professional efforts from our crew members. While crew changes remain an issue due to travel bans and quarantine rules in several countries around the world, TORM has reduced the percentage of crew with overdue employment from approximately 35% in May and June to the current level of 1% of the total crew on board TORM’s vessels. TORM is very satisfied with this achievement and maintains the safety and welfare of seafarers as a key focus area – especially during the COVID-19 pandemic. TORM has refinanced debt of USD 602m extending all material debt maturities to 2026 or later. In the first quarter of 2020, TORM closed the refinancing of four term loans and an existing revolving credit facility. The term loans and the revolving credit facility were replaced by two separate term facilities and a new revolving credit facility covering up to USD 496m. In the fourth quarter, TORM refinanced its existing facility with Danish Ship Finance with a new facility of USD 180m in senior secured debt, covering ten vessels including the two MR vessels purchased in the fourth quarter. In connection with the transaction, five vessels were transferred for refinancing under the Hamburg Commercial Bank facility for USD 35m. Lastly, TORM has obtained financing of USD 12m related to the installation of scrubbers and Ballast Water Treatment Systems on four vessels. Following the refinancing, TORM has extended all material debt maturities until 2026, ensuring only annual scheduled repayments over the term which supports the Company’s financial flexibility. In connection with the refinancing, a CO2 emission-linked pricing mechanism was included in the Danish Ship Finance facility. Accordingly, the pricing is linked to the reductions in CO2 emissions year-on-year, aligning it with TORM’s and the International Maritime Organization’s industry target of a 40% reduction in greenhouse gas emissions by 2030. The key performance indicator and the decarbonization target are consistent with the Poseidon Principles, the global framework by which a number of leading financial institutions assess the climate alignment of their ship finance portfolios. The agreement is TORM’s first loan agreement that includes a CO2 emission-linked price adjustment mechanism. As of 31 December 2020, TORM’s available liquidity was USD 268m and consisted of USD 136m in cash and restricted cash and USD 132m in undrawn financing and committed facilities. Undrawn and committed facilities include USD 45m in undrawn working capital facilities, USD 76m of sale and leaseback financing and USD 11m of financing related to the installation of scrubbers and Ballast Water Treatment Systems. Cash and restricted cash and cash equivalents include USD 46m in restricted cash, primarily related to collateral for financial instruments. As of 31 December 2020, the net interest-bearing debt amounted to USD 713m, and the net loan-to-value (LTV) ratio was estimated at 51%. TORM has committed to install 50 scrubbers. As of 1 March 2021, TORM has installed 46 scrubbers. The remaining four are expected to be installed in 2021 and in the first quarter of 2022, including the two scrubbers for the LR2 newbuildings. Based on broker valuations, the market value of TORM’s fleet, including newbuildings, was USD 1,585m as of 31 December 2020. TORM’s NAV, excluding charter commitments, was estimated at USD 801m, corresponding to a NAV/share of USD 10.8 or DKK 65.3. As of 31 December 2020, TORM’s book equity amounted to USD 1,017m. This corresponds to a book equity/share of USD 13.6 or DKK 82.3. The book value of the fleet was USD 1,723m as of 31 December 2020 excluding outstanding installments on the two LR2 newbuildings and the 2010-built MR vessel of USD 101m. As of 31 December 2020, TORM performed an impairment test of the recoverable amount of the most significant assets. Based on this review, Management has decided to impair TORM’s two Handysize vessels with a total charge of USD 5.5m. No impairment was recorded for the main fleet covering TORM’s LR2, LR1 and MR vessels, since the value in use is in line with the carrying amount at 31 December 2020. At the 2020 AGM, Ms. Annette Malm Justad was appointed as Director of the Company replacing Mr. Torben Janholt. Ms. Justad has more than 20 years of executive experience and has previously served as CEO of Oslo listed Eitzen Maritime Services ASA, amongst other. To supplement the Annual Report and TORM’s CSR report, TORM has published its first dedicated ESG Report to provide easy access to data specifically within Environmental, Social and Governance aspects. The ESG Report documents the results of TORM’s efforts within the environment, its commitment to the UN’s Sustainable Development Goals including social and governance aspects, and the targets set for 2030 onwards. As of 31 December 2020, 28% of the total earning days in 2021 were covered at USD/day 15,049. As of 23 February 2021, the total coverage for the first quarter of 2021 was 85% at USD/day 12,914. For the individual vessel classes, the coverage was 89% at USD/day 16,506 for LR2, 67% at USD/day 13,430 for LR1, 88% at USD/day 12,355 for MR and 84% at USD/day 6,725 for Handysize. TORM made a total shareholder distribution of USD 71m in 2020 covering earnings in the second half of 2019 and the first half of 2020. The majority of the payment was made in September 2020, where TORM paid an ordinary dividend of USD 63m, or USD 0.85 per share. In line with the Company’s Distribution Policy, the payment corresponded to 50% of the net income for the six months ended on 30 June 2020. The net income for the second half of 2020 was USD -39m and in line with TORM’s Distribution Policy, the Board of Directors has decided to recommend that no dividends be paid for that period. CONFERENCE CALL AND WEBCAST TORM will be hosting a conference call for investors and financial analysts today at 9:00 am Eastern Time / 3:00 pm Central European Time. If you wish to participate in the call, please dial +45 3272 0417 (or +1 (646) 741 3167 for US connections) at least ten minutes prior to the start of the call to ensure connection and use 3627758 as conference ID. The presentation can be downloaded from https://investors.torm.com.There will be a simultaneous live webcast via TORM’s website https://investors.torm.com. Participants should register on the website approximately ten minutes prior to the start of the webcast. CONTACT TORM plcJacob Meldgaard, Executive Director, tel.: +45 3917 9200 Birchin Court, 20 Birchin LaneKim Balle, CFO, tel.: +45 3917 9285London, EC3V 9DU, United Kingdom Morten Agdrup, IR, tel.: +45 3917 9249Tel.: +44 203 713 4560 Finn Bjarke Petersen, IR, tel.: +45 3917 9225www.torm.com ABOUT TORM TORM is one of the world’s leading carriers of refined oil products. The Company operates a fleet of approximately 80 modern vessels with a strong commitment to safety, environmental responsibility and customer service. TORM was founded in 1889. The Company conducts business worldwide. TORM’s shares are listed on NASDAQ Copenhagen and NASDAQ New York (tickers: TRMD A and TRMD). For further information, please visit www.torm.com. SAFE HARBOR STATEMENTS AS TO THE FUTUREMatters discussed in this release may constitute forward-looking statements. Forward-looking statements reflect our current views with respect to future events and financial performance and may include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and statements other than statements of historical facts. The words “believe,” “anticipate,” “intend,” “estimate,” “forecast,” “project,” “plan,” “potential,” “may,” “should,” “expect,” “pending” and similar expressions generally identify forward-looking statements. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management’s examination of historical operating trends, data contained in our records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond our control, the Company cannot guarantee that it will achieve or accomplish these expectations, beliefs or projections. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of the world economy and currencies, general market conditions, including fluctuations in charter hire rates and vessel values, the duration and severity of the COVID-19, including its impact on the demand for petroleum products and the seaborne transportation thereof, the operations of our customers and our business in general, changes in demand for “ton-miles” of oil carried by oil tankers and changes in demand for tanker vessel capacity, the effect of changes in OPEC’s petroleum production levels and worldwide oil consumption and storage, changes in demand that may affect attitudes of time charterers to scheduled and unscheduled dry-docking, changes in TORM’s operating expenses, including bunker prices, dry-docking and insurance costs, changes in the regulation of shipping operations, including actions taken by regulatory authorities, potential liability from pending or future litigation, domestic and international political conditions, potential disruption of shipping routes due to accidents, political events including “trade wars,” or acts by terrorists. In light of these risks and uncertainties, you should not place undue reliance on forward-looking statements contained in this release because they are statements about events that are not certain to occur as described or at all. These forward-looking statements are not guarantees of our future performance, and actual results and future developments may vary materially from those projected in the forward-looking statements. Except to the extent required by applicable law or regulation, the Company undertakes no obligation to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events. Attachments 04-2021 - TORM plc Annual Report 2020 - US Annual Report 2020_web
JERUSALEM — Israeli Prime Minister Benjamin Netanyahu on Monday accused Iran of attacking an Israeli-owned ship in the Gulf of Oman last week, a mysterious explosion that further spiked security concerns in the region. Without offering any evidence to his claim, Netanyahu told Israeli public broadcaster Kan that “it was indeed an act by Iran, that’s clear.” “Iran is the greatest enemy of Israel, I am determined to halt it. We are hitting it in the entire region,” Netanyahu said. The blast struck the Israeli-owned MV Helios Ray, a Bahamian-flagged roll-on, roll-off vehicle cargo ship, as it was sailing out of the Middle East on its way to Singapore on Friday. The crew was unharmed, but the vessel sustained two holes on its port side and two on its starboard side just above the waterline, according to American defence officials. The ship came to Dubai’s port for repairs on Sunday, days after the blast that revived security concerns in Mideast waterways amid heightened tensions with Iran. Iran has sought to pressure the U.S. to lift sanctions on Tehran as President Joe Biden's administration considers option for returning to negotiations with Iran over its nuclear program. Biden has said repeatedly the U.S. would return to the nuclear deal between Tehran and world powers that his predecessor, Donald Trump, withdrew from in 2018 only after Iran restores its full compliance with the accord. It remains unclear what caused the blast on the vessel. The Helios Ray had discharged cars at various ports in the Persian Gulf before the explosion forced it to reverse course. In recent days, Israel’s defence minister and army chief had both indicated they held Iran responsible for what they said was an attack on the vessel. There was no immediate response from Iran to the Israeli allegations. Overnight, Syrian state media reported a series of alleged Israeli airstrikes near Damascus, saying air defence systems had intercepted most of the missiles. Israeli media reports said the alleged airstrikes were on Iranian targets in response to the ship attack. Israel has struck hundreds of Iranian targets in neighbouring Syria in recent years, and Netanyahu has repeatedly said Israel will not accept a permanent Syrian military presence there. Iran and its Lebanese proxy Hezbollah have provided military support to Syrian President Bashar Assad in the more than decade-long Syrian civil war. The Israeli military declined comment. Iran also has blamed Israel for a recent series of attacks, including another mysterious explosion last summer that destroyed an advanced centrifuge assembly plant at its Natanz nuclear facility and the killing of Mohsen Fakhrizadeh, a top Iranian scientist who founded the Islamic Republic’s military nuclear program two decades ago. Iran has repeatedly vowed to avenge Fakhrizadeh’s killing. “It is most important that Iran doesn’t have nuclear weapons, with or without an agreement, this I also told to my friend Biden," Netanyahu said Monday. Iranian threats of retaliation have raised alarms in Israel since the signing of normalization deals with the United Arab Emirates and Bahrain in September. ___ Associated Press writer Isabel DeBre in Dubai, United Arab Emirates, contributed to this report. Ilan Ben Zion, The Associated Press
Images from the 78th annual Golden Globe Awards ceremony split between Los Angeles and New York.
Globes winners shared post-show thoughts after the show ended. "I’ve been on a diet for three years for this role," said Andra Day, with plans of cake.
Australian Prime Minister Scott Morrison said on Monday an unidentified cabinet minister accused of rape has "vigorously rejected" the allegation during talks with him. Several opposition lawmakers said late last week they received a letter detailing an allegation of rape by a male cabinet minister before he entered parliament. Morrison said his office also received a letter detailing the allegation.
Assamese Gamosa and nurses from poll-bound Kerala & Puducherry – many saw poll reminders in PM’s vaccination photo.
Europe's drug regulator is auditing the manufacturing site of the Serum Institute of India (SII), a source with knowledge of the matter said, a necessary step before AstraZeneca's COVID-19 vaccine made there can be exported to the bloc. SII, the world's largest vaccine manufacturer, is producing the AstraZeneca vaccine, developed with Oxford University, for dozens of poor and middle-income countries. The precise reason for the audit of SII's manufacturing processes and facilities was not clear, but a green light would mean the drug could be exported to the European Union, the source said, declining to be identified because the review is confidential.
Charities and MPs call for urgent action to prevent people being turned out onto streets in coming weeks
‘This cannot be allowed to happen again,’ say coalition of charities
More than usual, this year's Globes may not sync up with the Oscars. But Andra Day could be looking at an Oscar nomination.
Vinesh Phogat beat Vanese Kaladzinskay 10-8 to win the women’s 53kg freestyle title in Kiev.