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Concordia Maritime and Stena Bulk Pool Tankers

first_imgzoom Concordia Maritime and Stena Bulk have launched a pool of four P-MAX tankers for a period of one year. The pool will include Stena Perros and Stena President, for which the companies previously signed time-charters, as well as Stena Penguin and Stena Primorsk.The four tankers will transport heavy petroleum products, primarily in the Atlantic market.“We are very pleased with the agreement and still believe in a stronger market in 2015, but we also want to balance our spot market exposure. At the same time, this allows us to fully leverage the operational expertise that Stena Bulk has amassed over time in this market”, said Kim Ullman, CEO of Concordia Maritime.Stena Perros, Stena President, Stena Penguin and Stena Primorsk are four of the ten P-MAX vessels included in Concordia Maritime’s fleet. The tankers were constructed at the Brodosplit Shipyard in Split, Croatia, in 2008, 2007, 2010 and 2006, respectively.Tankers with the P-MAX design have a double hull, two machine rooms with full water and fire integrity, as well as two separate propulsion systems. Maneuverability and an integrated bridge layout are also critical to facilitating safe navigation in narrow channels. A significantly wider hull also provides substantial cargo flexibility and increases cargo capacity by 30 percent, according to Concordia.Press releaselast_img read more

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RBI to come out with mobile app for currency notes identification

first_imgNew Delhi: The Reserve Bank of India will come out with a mobile application to help visually challenged people in identifying currency notes as cash still remains a dominant mode of transaction. At present, banknotes in the denominations of Rs 10, 20, 50, 100, 200, 500 and 2,000 are in circulation, besides Re 1 notes issued by the Centre. The RBI said that identification of banknote denomination is key to successful completion of cash-based transactions by visually impaired persons. Also Read – Maruti cuts production for 8th straight month in SepIntaglio printing based identification marks for helping the visually challenged in identification of banknotes denomination are present in the notes of Rs 100 and above. After demonetisation of old Rs 500/1,000 notes in November 2016, new banknotes in design and sizes have been put in circulation. “The Reserve Bank of India has been sensitive to the challenges faced by the visually challenged in conducting their day to day business with Indian banknotes,” said the central bank while scouting for a vendor to develop the mobile application. Also Read – Ensure strict implementation on ban of import of e-cigarettes: revenue to CustomsThe proposed mobile app would be able to identify the denomination of notes of Mahatma Gandhi Series and Mahatma Gandhi (New) series by capturing the image of the notes placed in front of mobile camera, the RBI said while inviting bids from tech firms to develop the app. The RBI had come out with a similar ‘request for proposal’ from vendors but later cancelled it. The app will also generate “audio notification” intimating the currency note denomination to the user if image is captured correctly, else intimating the user to try again in case of image is not readable. There are about 80 lakh blind or visually impaired people in the country, who are likely to benefit from the initiative of the central bank. In June, 2018 the central bank had declared that it would explore the feasibility of developing a suitable device or mechanism for aiding the visually impaired in the identification of Indian banknotes.last_img read more