China’s largest shipping company China Cosco Holdings Company reported an increase in loss for the first half of the year. A rise in global fleet that exceeded the demand for raw materials is seen as the main reason that led to a decrease in shipping rates for commodities and containers.
The company recorded a loss of $767 million, which almost doubled compared to a loss of $435 million last year.
Cosco’s dry-bulk shipping and container shipping units posted losses in the order of 3.42 billion yuan and 1.3 billion yuan, respectively.
The company does not expect to see much improvement this year. China Cosco said in a statement, “Excessive shipping capacity will remain the primary challenge” for the dry-bulk sector in the second half of the year.
Shipping volume for dry-bulk commodities decreased 18 percent from the previous year, and revenue decreased 32 percent.
China Shipping Container also reported a loss of 1.28 billion yuan for the first half of the year.
Seven northern cheetah cubs made their public debut during a photo call at Whipsnade Zoo in Bedfordshire, north of London, on Wednesday.The septuplets were born around twelve weeks ago, and seemed to enjoy their first outing by frolicking and chasing one another around the cheetah enclosure.
For mother Dubai it's the second litter, after she gave birth to five cubs in 2010. Only three litters have ever been produced in a UK zoo, and soon enough Dubai's cubs will be playing a vital role in the survival of their species.
[Marie Brown, Deputy Team Leader, Whipsnade Zoo]:
"Northern cheetahs are extremely rare, rumoured to be less than 250 in the wild so we're very excited for her to breed for a second time.
She's (Dubai) bred once before. She had five cubs with her first litter, which was a couple of years ago, which was the first northern cheetahs to be born in the country so we're very excited that she's produced again and this time instead of five she's gone to seven so we're very pleased with that."
The cubs are part of the zoo's European Endangered Species Programme which aims to increase the population of endangered animal species. While they will be staying with mum Dubai for the next eighteen months, Brown says they will eventually be transferred to other European zoos to take part in breeding programme
[Marie Brown, Deputy Team Leader, Whipsnade Zoo]:
"They'll feed off mum for quite a while but, yeah, they look like adults pretty much before we choose to remove them from mum which will probably be in about a year and a half's time."
Cheetahs are the fastest land mammals, reaching speeds of up to 70 mph once fully grown.
Hurricane Isaac makes landfall along the U.S. Gulf Coast.
For some families it is a chance to play in the swelling ocean and be buffeted by the fierce waves.
For others, it is the perfect opportunity to get some impressive videos on their smart phone.
Many though, are quietly praying it won't be another Hurricane Katrina.
Authorities have urged thousands of residents in low-lying areas to leave, warning that the storm surge could reach up to 12 feet, flooding towns and cities in Mississippi, Alabama and Louisiana.
Rainfall accumulations, possibly as much as 20 inches in some areas, could also trigger widespread flooding.
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