Day: 20 March 2018

The Monaco Yacht Show is constantly evolving, and this year the Quai des Etats-Unis will represent a major change, with more segregation of exhibitors. The extension of the T central dock will be removed to make space for an entirely new quay on the northern part of the show.

“The organisers of the MYS will take advantage of the restructuring of Quai des Etats-Unis in Port Hercules by the Principality of Monaco to improve the visit experience of the show’s private clientele by giving priority to the presence of yacht designers, builders and brokerage houses in front of their superyachts on display for sale or charter,” the event committee said.

There will be more emphasis on clients, rather than the B2B element. Luxury manufacturers and service suppliers will be housed in the Parvis Piscine tent, while nautical suppliers will be in the Darse Sud tent and Quai Albert 1er.

The Monaco Yacht Show takes place from September 26 to 29.

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Didier Gamerdinger, Minister of Social Affairs and Health, has signed an agreement with the five heads of the Monegasque companies that provide personal care services, and with the Union of Monegasque Enterprises of Help and Home support.

Around 700 elderly currently benefit from home support measures, which also reduces the number of seniors in care homes. However, home support supposes that the service provided to our elders is of a high standard, the Government says.

The agreement, signed on Monday, March 19, aims to ensure the implementation of a quality service with certain guarantees, as part of an assistance plan recommended by the Centre for Gerontology Coordination of Monaco (CCMG).

The Convention covers a number of areas including the employment of qualified personnel for this type of service; the initial and continuous training of employees; continuity of assistance with a 24-hour hotline; and tariffs fixed by Ministerial Order.

The agreement strives towards the goal of excellence that the Principality has set itself, particularly in the area of social policy.

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Emanuele Lauro, Chairman and Chief Executive of Monaco-based Scorpio Bulkers, has told the company’s shareholder’s in the annual report that 2017 was characterised by an improved environment for the dry bulk industry.

“With the world economy firing on all cylinders in 2017, the demand for the commodities we carry and the distances they need to go continued to increase. A case in point – and an example we touched on last year – is coal. For now and for the foreseeable future, as China tries to urgently address corruption and – most especially – pollution while all the while maintaining economic growth, domestic coal production will decline and long-haul imports will increase.

“The consequences on our markets are broad and deep: it is not simply larger vessels shuttling coal from Australia to China. Second order effects include our Ultramaxes carrying coal from the United States to Europe. Tertiary effects include tightening supply/demand balances which support freight on cargoes like steel slabs from Russia, bauxite from Brazil, and logs from New Zealand. Meanwhile, robust demand is being met with historically low fleet supply growth.”

For the year ended December 31, 2017, the Company’s GAAP net loss was $59.7 million, or $0.83 loss per diluted share compared to a GAAP net loss of $124.8 million, or $2.22 loss per diluted share for the prior year.

On February 5, 2018, the Board of Directors declared a quarterly cash dividend of $0.02 per share on the Company’s common stock. Total vessel revenue in 2017 increased to 162.2 million from 78.4 million in 2016.

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