Too many vessels spoil the oil tanker rate

OPEC's coming output cuts could pull down rate even furtheThe 308,000 DWT crude oil tanker "Yuanteng Lake" berths at a port during the delivery and naming ceremony in Dalian city, northeast China's Liaoning province.

TOKYO -- The freight rates that large oil carriers charge on certain routes have plunged about 30% since the beginning of the year. The reason is twofold: There are suddenly more tankers looking for work and less demand for their services because of OPEC's production cut.
The benchmark Worldscale rate for very large crude carrier tankers in the 300,000-ton class has sharply fallen to around WS65 at present -- the lowest point since November -- for a voyage from the Middle East to the Far East. Less than three weeks ago, the voyage cost over WS90.

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Barca set date to announce new coach after Copa del Rey

Barcelona will name its new coach on May 29, two days after the Copa del Rey final, president Josep Bartomeu confirmed on Sunday after the club’s title chase came up short. Reports in the Barcelona media last week said the club have already agreed a two-year deal with Athletic Bilbao coach Ernesto Valverde. Luis Enrique said in March he will be leaving the club after the season, and Bartomeu confirmed the timeline for announcing his replacement. “We thank Luis Enrique for the effort he has put in the demands he placed on himself. The door is open. Now we have the Copa,” Bartomeu said. “On May 29, we have a board meeting and we will announce the name of the new coach after.” Asked about Valverde, Bartomeu only said: “”He is a coach who is out of contract in the summer.” Real Madrid finished atop the table in La Liga, three points above second-placed Barcelona, who will still contest the cup final against Alaves on Saturday. “Obviously we congratulate the champions and our players for ...

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Upcoming Yoruba actress, Feyi Hassan releases sexy birthday pictures

Upcoming is a bit harsh to describe, pretty Yoruba actress, Feyisara Hassan, because already she has produced five films of her own, while featuring in plenty more. Feyi, who became a producer as a teenager added another year on Wednesday, April 26, 2017 and to celebrate the special day she released some sexy pictures to show another side of her person. Vulnerably beautiful, delicate and yet provocative, Feyi, slays minds in this shoot, without having to go over the edge. Happy birthday girl.

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Wike moves to ban 5,000 unapproved schools in Rivers

The Rivers State government says it has concluded plans to ban all unapproved schools operating in the state with effect from September this year. State Commissioner for Education, Prof. Kaniye Ebeku, disclosed this when he led members of the Rivers state House of Assembly Committee on Education on an inspection of ongoing rehabilitation work at Government Girls Secondary School, Rumuokwuta in company of officials of the state Ministry of Education. Prof. Ebeku said about five thousand illegal private schools are operating in the state. He said that publications will be done in both National and local papers in the coming days with the full names of the affected schools. According to Ebeku, “We found that there are so many unapproved quacks schools operating in the state and this is not acceptable for many reasons. They deliver poor quality education and because they are operating underground they are not paying required taxes as legitimate approved organizations. “We would not want ...

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