NOVA MEDIA PUBLISHING INC.

Transactions in Connection with Share Buy-back Program

13.12.2021
ship

On 5 May 2021, A.P. Møller - Mærsk A/S (the “Company”) announced a share buy-back program of up to DKK 32 billion (around USD 5 billion) to be executed over a period of two years. As announced on 2 November 2021, during the first phase of the program running from 3 November 2021 up to 3 May 2022, the Company will buy back A and B shares for an amount of up to DKK 8bn. The first phase of the share buy-back program will be executed under EU Commission Regulation No. 596/2014 of the European Parliament and Council of 16 April 2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052 (the “Safe Harbour Regulation”).

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Argentina: Productive Alternative for Banana Cultivation Evaluated

26.11.2021
ship

In the subtropics of Jujuy and Salta, a team of INTA specialists studies the cultivation of bananas under a roof or in a greenhouse. It is a technique that would stabilize and improve the production of the fruit with the highest consumption per person in the country. The production of bananas in greenhouses is presented as a viable alternative that would improve the quality and quantity of this fruit per unit area. In addition, it would enable the cultivation to be sustained throughout the year in the subtropical region of Salta and Jujuy.

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Maersk Launches Green Bond to Fund Methanol-Fuelled Vessels

26.11.2021
ship

Maersk has issued its first $564.42m (€500m) green bond to finance the construction of methanol-powered vessels. These include a feeder vessel as well as a series of eight large ocean-going containerships. The ten-year green bond has been launched under the firm's Green Finance Framework and reached a final orderbook of $4.18bn (€3.7bn). Maersk placed the bonds with a coupon of 0.75%, which is said to be the shipping firm's lowest annual interest to date.

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As Costs Rise, PHL Exporters Eye Japan Banana Price Hike

19.11.2021
ship

Filipino banana exporters are proposing that the government initiate talks with Japanese retailers to increase their prices to offset rising production costs and keep the profit margins of local growers healthy. In a letter to Philippine Agricultural Attache to Japan, Jose I. C. Laquian, the Pilipino Banana Growers and Exporters Association (PBGEA), sought the government's support in requesting higher prices for Philippine bananas sold in the Japanese market. The move, the PBGEA argued, would help the local banana industry cope with many challenges it faces today, including disease outbreaks and rising production costs, among others.

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Strong Result in First Nine Months of 2021 for Hapag-Lloyd

19.11.2021
ship

Hapag-Lloyd has concluded the first nine months of 2021 with an EBITDA of USD 8.2 billion (EUR 6.8 billion). The EBIT was also much higher than the prior-year period, at USD 6.9 billion (EUR 5.8 billion). At the same time, the Group profit improved to USD 6.7 billion (EUR 5.6 million). Revenues rose in the first nine months of 2021 by approximately 70 per cent, to USD 17.9 billion (EUR 15.0 billion). The rise can primarily be attributed to a higher average freight rate of 1,818 USD/TEU (9M 2020: 1,097 USD/TEU).

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CMA CGM is Acquiring Fenix Marine Services (FMS)

12.11.2021
ship

The $2.3bn deal sees CMA CGM acquiring a 90% stake in FMS from private equity fund EQT Infrastructure III, making the French line the sole shareholder in the terminal. The terminal has capacity of around 2.5m teu, is the third largest in the Port of LA/Long Beach area and has a long-term concession agreement through to 2043. Related: CMA CGM expanding in air cargo ordering two B777 freighters Rodolphe Saadé, Chairman and CEO of the CMA CGM Group: “In order to manage efficiently our port operations on the West Coast of the United States, we have decided to acquire Fenix Marine Services.

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Mustgrow Reports Successful Banana Field Test For TR4

12.11.2021
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Mustgrow Biologics Corp.'s initial field trial program in Colombia was a success. Field testing confirmed the efficacy of Mustgrow's mustard plant-derived biopesticide in treating the disease fusarium wilt TR4 -- a unique feat Mustgrow believes no other agri-science team has achieved. Fusarium wilt TR4 (often referred to as the Panama disease) is a devastating pathogen ravaging the $25-billion global banana industry.

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Spain: La Palma Banana Growers Get a Lift from Navy

12.11.2021
ship

The Spanish Navy has started helping farmers on the volcanic island of La Palma to reach their lava-surrounded banana plantations by sea, Spain’s Defense Ministry said on November 11. More than 1,000 hectares (2,471 acres) of the island’s surface has been covered by lava, and over 7,000 people have been evacuated, with no reported casualties. Either lava or thick particles of ash raining down have destroyed hundreds of properties, including homes and banana plantations that are the lifeblood of the island’s economy.

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Peru: Expansion of the Port Terminal in Paita Completes in November

12.11.2021
ship

The works for expanding the marginal pier of the Paita port terminal in Piura will be completed this November. The project to improve the terminal includes an investment of 311.6 million dollars and is part of the portfolio of interventions of the Ministry of Transport and Communications (MTC). Exports, the efficiency of the maritime installation and maritime transport between the ports of Paita and the Panama Canal will be promoted with this regional project. Completing this project will boost the export of agricultural products such as grapes, bananas, squid, blueberries.

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90% Chance for La Niña to Continue Through the Northern Hemisphere Winter 2021-22

12.11.2021
ship

According to the National Oceanic and Atmospheric Administration (NOAA) of the USA, La Niña strengthened in the last month, with below-average sea surface temperatures (SSTs) evident across most of the equatorial Pacific (Fig. 1). In the last week, all the Niño index values were between -0.7ºC and -1.0ºC, with the coolest anomalies in the Niño-3.4 region. Below-average subsurface temperatures (averaged from 180-100ºW) were roughly the same amplitude at this time last month, and reflected the prevalence of below-average temperatures in the eastern Pacific Ocean.

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Reefer Cargo the New Battleground with Rates Rising and Equipment Scarce

13.8.2021
ship

Container shipping bottlenecks are creating winners and losers in reefer cargo, with consumers footing the bill for the increased logistics costs. According to Drewry, average reefer freight rates jumped 32% in Q2, and are on track for a 50% increase by the end of Q3. Increases on the major east-west tradelines were particularly strong, Drewry noted, where available capacity has seen record demand in recent months, and reefer shippers must compete with dry freight BCOs for slots. Traditional north-south routes for perishables have been less affected by the pandemic-driven capacity crunch and therefore recorded less price inflation in Q2, Drewry said.

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Reybanpac Obtains Carbon Neutral Product Certification

13.8.2021
ship

Reybanpac, Ecuador's largest banana producer and second-largest exporter, recently reached a new milestone in its environmental commitment. After a measurement and audit process, it obtained the carbon-neutral product certification for its banana operation, from cradle to the shipping port, following the ISO 14067 standard. "This certification is the result of our commitment to contribute to the mitigation of climate change. The reduction in the emission of greenhouse gases should be a priority for everyone, including agribusiness.", says Vicente Wong, CEO of Reybanpac. The certification covers the firm's 45 farms and nearly 7,000 hectares of plantations.

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Costa Rica: Main Banana Exporter in Central America in 2020

13.8.2021
ship

In 2020 the leading exporter of fresh or dried bananas in Central America was Costa Rica, with $ 1,083 million, followed by Guatemala, with $ 930 million, Honduras, with $ 531 million, Panama with $ 152 million and Nicaragua with $ 23 million. During 2020, Panamanian exports increased 19% in quarter-on-quarter terms, Honduran exports by 11%, and Costa Ricans by 8%. Sales abroad of Guatemala and Nicaragua fell 2% and 8%, respectively. Between 2019 and 2020, the regional exported value of bananas increased 7%, going from $ 2,523 million to $ 2,725 million.

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Fyffes to Slash CO2 Emissions by 25%

13.8.2021
ship

Fyffes has pledged to reduce its CO2 emissions by 25% by 2025 as part of a raft of commitments published in its first-ever sustainability report. The supplier said the reduction would align it to the Science-Based Target Initiative aims to limit emission increases to 1.5°C of pre-industrial levels by 2025. Fyffes said it would reduce emissions by increasing efficiency in inputs and outputs, including implementing sustainable alternatives.

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Industry Veteran Joins Dole as Senior Sales Manager

13.8.2021
ship

Dole plc announced the hiring of Scott Ross as senior manager of sales and new business development for Dole Diversified North America. The Diversified products division of Dole operates the business of Dole's year-round berries category — including strawberries, blueberries, blackberries, and raspberries — in addition to other fruit products outside of its core tropical fruits. This year Dole Diversified NA also expanded to offer a 52-week supply program for grapes grown in Chile, Peru, and California.

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Import Expo Helps Dole Reach a Wider Audience

11.6.2021
ship

It has been three years since the first edition of the China International Import Expo. This series of stories highlights the achievements and changes that participating enterprises have experienced because of the annual expo. Dole Food Co considers the China International Import Expo as a vital product promotion platform in China and Asia that helps spur the company's innovation, according to Wang Na, brand director of Dole China. Data from the company show that the sales of Dole's extra sweet bananas jumped 126 per cent from 2017 to 2020 following its participation in the last three editions of the expo.

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Fresh Del Monte Effort Reinforces Social Responsibility, Sustainability

11.6.2021
ship

Fresh Del Monte announced the launch of its “Bunch of Good” campaign emphasizing Fresh Del Monte’s corporate social responsibility and sustainability efforts for making a better tomorrow while inviting consumers to learn more and participate in this initiative. The campaign first rolls out new “Bunch of Good” produce stickers and tags for its bananas and pineapples, which will display several unique facts highlighting Fresh Del Monte’s commitment to communities, education, ecosystems, healthcare, wildlife preservation and much more. Fresh Del Monte strives to showcase the organization’s commitment to doing “a bunch of good” worldwide while building a sustainable future through this new initiative. The brand’s six “bunch of good” efforts featured on the banana stickers are:

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ONE adds Yantian reefer surcharge, Maersk says delays of 16 days plus

11.6.2021
ship

Maersk reports the eastern terminal of Yantian International Container Terminal (YICT), where mainline vessel berth operates at 30% of expected productivity. As with other lines, as a result of the low productivity, ONE said in a customer advisory dated 10 June that a number of its vessels were omitting calls at Yantian and that it may need to adjust the transportation plans for inbound reefers to the port. “This may result in an extended period of storage of inbound reefers at transhipment port or the discharge of reefer containers at an alternative port without prior notice,” ONE said. The shipping line said it would encourage customers to change the destination port, especially for time-sensitive cargoes such as fresh, chilled commodities.

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Dole Adds New Service at Port Tampa Bay

11.6.2021
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Dole Fresh Fruit, a subsidiary of Dole Food Co., is adding a weekly direct call at Port Tampa Bay from Honduras and Guatemala in July. In addition to Dole Fresh Fruit discharging bananas and pineapples, Dole's commercial cargo division, Dole Ocean Cargo Express, will offer fixed weekly full container load containerized cargo services. The route, called the Gulf Express Service, also includes stops in Gulfport, Mississippi and Freeport, Texas. "This marks a major milestone in our strategic efforts to continue to diversify our cargo mix and expand our container volume. It is now our fastest growing line of business," said Paul Anderson, Port Tampa Bay president and CEO, in a release.

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Freight Rates to Stay At 'Unprecedented' Levels Until Pandemic Brought Under Control

11.6.2021
ship

In more than ten years in the logistics business, David Sun says he has never seen shipping fees climb as high or quickly as they have this year. "It's unprecedented," Ocean freight fees are three to five times higher than the same period last year. The cost of moving a 40-foot sea container from China to Dubai usually is less than US$1,000, but it now costs about US$5,000. The volatile prices have caused a considerable financing problem for Sun, who must pay his shipping booking agent monthly, but receives payments from clients once every two or three months. Some customers may take up to six.

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