News / China’s port operator swoops on Brazilian JV operating container facilities at Paranagua

first_img CMPort, the port-operating subsidiary of state-owned China Merchants Holdings has made its first investment in Latin America, announcing this morning that it is to buy a 90% stake in the Brazilian joint-venture that operates the container facilities in the port of Paranagua.The shareholders of TCP Participações (TCP) – 50% owned by Advent International and 50% by a consortium comprising Galigrain, Grup Maritim TCB (now part of APM Terminals), Pattac, Soifer and TUC Participações Portuárias – this morning announced the signing of a binding agreement whereby CMPort will acquire 90% of TCP’s shares for approximately R$2.9bn ($925m).TCP manages the Terminal de Contêineres de Paranaguá, one of the largest container terminals in South America, and logistics company TCP Log. Under the terms of the deal, Advent, Galigrain and TCB will sell their shares in TCP, while Pattac, Soifer and TUC will together retain a 10% stake in the company.The deal remains subject to regulatory approval, including from Brazil’s antitrust authority, but is expected to be completed by the end of 2017.The facility has a capacity of 1.5m teu but an expansion project to take that up to 2.4m teu is underway, due to be completed in 2019. It represented a hugely attractive asset for the acquisition-hungry CMPort, according to Neil Davidson, senior analyst of the ports and terminals sector at Drewry Maritime Advisors.“TCP is an attractive asset. It’s very profitable, with an EBITDA margin in excess of 60%, and it has a strong market in gateway traffic, including specialised reefer traffic. There is competition from neighbouring ports up and down the coast but also has a significant degree of captive traffic.“It’s also got significant scope to grow, because the capacity is already in place and that’s a bonus in Brazil where it can be hard to get permissions to expand.”Drewry estimates that the terminal handled around 740,000 teu in 2016, which means it has significant room to grow, given current capacity of 1.5m teu.“Given the high profitability of the business, its scale and its potential for growth, it was always going to be a substantial price tag, but the EV/EBITDA multiple will I think be largely in line with most recent M&A deals,” Mr Davidson added.CMPort managing director Bai Jingtao said: “China Merchants Port has rapidly expanded its overseas presence and understands that the entry into Latin America, especially Brazil, is crucial for the global expansion of its terminal network.“TCP is not only China Merchants’ cornerstone to enter Brazil, but also the future hub of the rising commodity and goods trade flow between Brazil and China.“China Merchants Port will also leverage its international port operation experience and local connectivity to help TCP continue its success story as one of the leading ports in Brazil and Latin America.”In its recent Annual Review of Global Container Terminal Operators, authored by Mr Davidson, Drewry notes that the big investment trend is that “the Chinese are coming”, and he said today that other Latin American firms were likely to find themselves on Chinese operators’ radar.“I’m sure Latin America will be a focus area for expansion by Chinese players – Brazil has to be high on the list given its scale, but may be some of the privately owned groups like Ultramar and SAAM Puertos will attract the attention of Chinese investors. Also, Central America should be kept in mind – for example the very large greenfield terminal in Colon backed by Chinese investors,” he explained.Ownership of TCP is also expected to provide a significant fillip to CMPort’s international volumes. Last week it announced its half-year results, which showed a slim 0.5% growth in international volumes, largely due to Terminal Link – the CMA CGM terminal operating subsidiary in which it has significant stake – selling its Xiamen facility.The group’s overall volumes for the first six months of the year hit 50.9m teu, representing 8.9% year-on-year growth, and it posted a half-year EBITDA of HK$5.9bn (US$753m), a 9.2% year-on-year increase.The deal will also see APM Terminals exit the port, although given that its stake, through its TCB acquisition, was limited to just 5%, it was more a financial interest than strategic and TCP’s throughput was not separately reported in APM Terminals’ latest figures. By Gavin van Marle 04/09/2017last_img read more

Change in approach: Medical education

first_imgThe health of a nation depends on its most important asset called “Human Being”. If a nation wants to excel socially, economically, then it should take care of the well-being of every human being that will bring glory to the nation. Best medical facilities and education paves the way for the prosperity of a nation. We as Indians have to work a lot on medical education and facilities even after 70 years of freedom.Let us first know about the medical colleges our nation has built and how it is influencing each class of society.In 1950, we had 28 medical colleges and by 2014, the colleges increased to 384, means in 64 years, 355 colleges are built.2014 to till date, 148 colleges built and 75 new colleges are approved to be built in the next couple of years.In a reply to a query in Loksabha in March 2020, health and family welfare minister, Ashwini Kumar Choubey said, NEET (National Eligibility Cum Entrance Test) is the only entrance examination for admission to as many as 82,926 MBBS, 26,949 BDS, 52720 AYUSH and 525 BVSc and AH in 542 and 313 medical and dental colleges respectively. 82,926 medical seats are offered in 541 MBBS colleges, which include 278 government and 263 private institutes. Surprisingly, the first time in the history of independent India, the number of government colleges has surpassed a number of private colleges.The current government is seriously working on to bring exponential changes in the field of medical education that should have also been taken care of in the first 65 years of independence. This least absorbed sector by earlier governments has resulted in demotivation, caused stress among our students at the same time a huge financial burden on parents. seeing the competition, donation and total expenses of medical education owing to less number of seats, It is difficult for the bright students from a middle class, Neo middle class and poor families to think and venture to study to get admission to Medical college. If colleges and systems were developed at the same pace as developed after 2014, we would have seen a healthier India.This has severely affected the medical facilities and number of doctors and hospitals in India, the situation of medical facilities in the rural area is pathetic though the current government has initiated many reforms and infrastructure development, however, it will take time to see the effect on the ground.The number of AIIMS (All India Institute of Medical Science) has been increased from 7 till 2014 to 15 by 2019 and few more are under construction.The Indian government is consequently pushing for extensive reforms in medical education. In August 2019, it succeeded in getting through parliament a major reform package, the National Medical Commission Bill, 2019— a milestone achievement to “curb avenues of corruption and boost transparency, accountability and quality in the governance of medical education.” This reform will “increase the number of medical seats and reduce the cost of medical education. This means more talented youth can take up medicine as a profession and this will help us increase the number of medical professionals.”Indeed, the National Medical Commission (NMC) bill introduces substantial changes and is expected to have a major impact on our medical system. It has replaced the corruption-plagued Medical Council of India (MCI), the country’s regulatory body for medical education for the past eight decades, with a more centralized national commission. It will also revamp medical licensing procedures and enshrine several recent reform initiatives, such as the standardization of admission requirements at medical schools nationwide.One of the most pressing problems in India’s severe shortage of medical doctors. According to the World Health Organization, the country has only 7.8 registered medical doctors per 10,000 people, compared with 18 doctors per 10,000 people in China, 21 in Colombia, and 32 in France. What’s more, not all registered doctors in India are actively practising, and many are poorly trained. Consider that the majority of allopathic (science-based) practitioners in the country—57 percent—lack a formal medical qualification.While the country’s medical education system now produces more than 64,000 graduates in allopathic medicine a year, that number is insufficient to keep up with demand. Shortages are further exacerbated by the outmigration of many of India’s most qualified doctors, a pattern that makes India the largest supplier of migrant physicians in the world. More than 10 per cent of international medical graduates certified by the U.S. Educational Commission for Foreign Medical Graduates, for instance, are Indian nationals. In the United Kingdom, likewise, Indian doctors are the largest group by far to have earned their medical qualifications overseas.Fixing India’s broken health care system is a priority of the Indian government. In 2018, PM Narendra Modi launched, with much fanfare, a new public health insurance program (Ayushman Bharat), colloquially known as “Modicare.” The program is supposed to automatically cover hospitalization costs of up to 500,000 INR per year, per family for the poorest 40 per cent of Indian society—some 500 million people—and establish 150,000 health and wellness centres throughout India.New Education Policy will also aid in a research-oriented approach in the medical field. Though late, however, we are moving in the right direction to better ourselves in the medical field.last_img read more

The best of British

first_imgGet your free guest access  SIGN UP TODAY Stay at the forefront of thought leadership with news and analysis from award-winning journalists. Enjoy company features, CEO interviews, architectural reviews, technical project know-how and the latest innovations.Limited access to building.co.ukBreaking industry news as it happensBreaking, daily and weekly e-newsletters Subscribe to Building today and you will benefit from:Unlimited access to all stories including expert analysis and comment from industry leadersOur league tables, cost models and economics dataOur online archive of over 10,000 articlesBuilding magazine digital editionsBuilding magazine print editionsPrinted/digital supplementsSubscribe now for unlimited access.View our subscription options and join our community Subscribe now for unlimited access To continue enjoying Building.co.uk, sign up for free guest accessExisting subscriber? LOGINlast_img read more

Spain joins Terff

first_imgON FEBRUARY 27 an agreement was signed to bring Renfe into partnership with the railways of Belgium, Luxembourg, France and Italy to extend the first Trans-European Rail Freight Freeway. The deal was signed by SNCF and RFF, SNCB, CFL, and the FS Infrastructure Directorate. The Terff which opened on January 12 (RG 2.98 p69) will be extended to Valencia and Marseille. The section from Lyon to the port of Gioia Tauro in southern Italy is not yet available, because Italy has still not passed legislation bringing the EU’s 91/440 open access directive into force.From the start of the summer timetable on May 24, the Terff will link yards at Muizen, Bettembourg, Metz, Sibelin/ Vénissieux, Marseille, Port Bou, Barcelona and Valencia. In addition to the 17 pairs of paths available over sections of the Terff between Muizen and Gioia Tauro, there will be four pairs between Lyon and Valencia and one between Lyon and Marseille. olast_img read more

Maryland teen plotting school shooting referred to Columbine, Newtown in diary, police say

first_imgFrederick County Sheriff’s Office (THURMONT, Md.) — A Maryland teen accused of plotting a school shooting mentioned the Columbine High School massacre and the Sandy Hook Elementary School shooting in a diary discovered by investigators, according to authorities.On March 23, the father of the suspect, Nichole Cevario, 18, told officials at Catoctin High School in Thurmont, Maryland, about a “potential threat of violence toward the school,” the Frederick County Sheriff’s Office said, and his daughter “was immediately removed from the classroom and turned over to investigators.”Authorities said investigators then searched Cevario’s home, where they found a diary that indicated she planned to carry out a mass shooting at her high school less than two weeks later — on April 5. The high school senior’s diary also mentioned the 1999 Columbine, Colorado, high school shooting and the 2012 Newton, Connecticut, elementary school shooting, Frederick County Sheriff Charles Jenkins told ABC News.Jenkins added of the suspect’s parents, “I can’t tell you how thankful I am that they stepped forward, offered this information to school administrators and contacted us. Without their help with this thing, we would have been dealing with an aftermath, rather than averting.As a parent himself, Jenkins said that “it would be extremely hard to make that decision,” but added of Cevario’s parents, “they most likely saved their daughter’s life as well as other lives within the student body.”An ABC News investigation found that in the last 17 years there have been at least 79 thwarted school massacre plots, and in more than half of them, the would-be attackers mentioned Columbine.But female shooters are rare. In a study by the FBI of 160 active shooter incidents between 2000 in 2013, only six involved a female shooter.Officials said Cevario’s journal showed she had been plotting the alleged attack “for some time and had been compiling intelligence on behavior activities of the school, noting emergency procedures associated with drills conducted by school staff and obtaining intelligence on the School Resource Deputy,” the sheriff’s office said. The journal had a timeline and her expectations for each stage, the sheriff’s office said.Authorities searching Cevario’s home also found a shotgun with ammunition and “bomb-making materials to include pipes with end caps, shrapnel, fireworks, magnesium tape, and fuse material,” the sheriff’s office said.“I have no doubt based on what we saw in her diary, the evidence we found, the information that we have taken throughout the investigation, that this was going to occur … April 5,” Jenkins said.When Cevario was removed from the school on March 23 it appeared that she posed a threat to herself and she was taken to the hospital, where she remains as of Tuesday, the sheriff’s office said. The sheriff’s office said she is struggling with mental health issues.According to the diary, Cevario planned to die in the attack, officials said.Investigators secured an arrest warrant for possession of explosive material with intent to create a destructive device and possession of incendiary material with the intent to create a destructive device, the sheriff’s office said. The arrest warrant will be served when Cevario is released from the hospital, the sheriff’s office said.The sheriff’s office did not know whether Cevario had retained a lawyer.Jenkins said all the items Cevario bought were legal. Authorities said no one else was involved or knew of the alleged plot.There was never a weapon or explosive device on school property, authorities said, and the materials were never combined into an explosive device.In a video Monday on the school district’s YouTube page, Dr. Terry Alban, superintendent of Frederick County Public Schools, thanked the “courageous” parents for stepping forward.“Whenever you hear or see anything that raises concern, you need to trust us and come to us so that we can do the right thing and handle it just like we did in this case,” Alban said. “Those relationships, that trust, that’s what enables the policies and the procedures that we have put in place to keep our school safe work. And they did.”Brad Young, President of Frederick County’s Board of Education, said in a statement, “We are blessed that these efforts resulted in thwarting a potentially disastrous situation. We are thankful for the cooperation of the family, the school and law enforcement in preventing this.”Copyright © 2017, ABC Radio. All rights reserved.Powered by WPeMatico Relatedlast_img read more

Chelsea and Liverpool interested in former Arsenal defender – reports

first_imgFormer Arsenal captain Thomas Vermaelen wants to leave Barcelona and return to England, according to reports in Spain.The defender left north London for the Nou Camp in the summer of 2014 after the Spanish champions splashed out £15m.But since then the Belgian has made just seven league appearances as injuries have prevented him from settling in.And now, according to fichajes.net, Vermaelen is itching for a return to the Premier League.The 30-year-old is confident a club in England will snap him up and Barcelona are willing to listen to offers.Chelsea and Liverpool are reportedly interested, as are Southampton and West Ham. 1 Thomas Vermaelen last_img