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Dear Ian George le Fèvre, could you specify where Catalonia is going?For now, the only destination in Catalonia is the abyss:Latest information at 24/Nov/2108 (E&OE):Catalunya pasa de ser la locomotora de la economía española al furgón de cola (Catalonia goes from being the locomotive of the Spanish economy to the caboose)Cataluña: La deuda supera ya los 78.450 millones de euros, 10.428 por catalán, y duplica a la de Madrid (Catalonia: The debt already exceeds 78,450 million euros, 10,428 for Catalan, and doubles that of Madrid)Moody's mantiene a Catalunya en bono basura y advierte de un daño a la economía (Moody's keeps Catalonia in junk bond and warns of damage to the economy)Fitch mantiene la nota de Cataluña en bono basura con perspectiva estable (Fitch maintains the note of Catalonia in junk bond with stable outlook)DBRS mantiene calificación 'BB', equivalente a bono basura, para Cataluña (DBRS maintains 'BB' rating, equivalent to junk bond, for Catalonia)S&P confirma la solvencia de Cataluña en bono basura sin descartar nuevos recortes. Noticias de Economía (S&P confirms the solvency of Catalonia in junk bond without discarding further cuts. News of Economy)S&P retira el rating de Cataluña tras decidir la Generalitat no renovar el contrato (S&P withdraws the rating of Catalonia after the Generalitat decided not to renew the contract)"The dog died, the rage is over", great idea of the Torra genius.La Generalitat prevé pedir al FLA un total de 9.349 millones en 2018 (The ‘Generalitat’ Autonomous Government of Catalonia plans to ask the FLA a total of 9,349 million in 2018)For the uninitiated, FLA is “Fondo de Liquidez Autonómico”, a credit line created by the Spanish government in July 2012 in the context of the economic crisis. It is designed for the State to lend money to the autonomous communities and that they do not have to finance their debt in the markets, in particular, Catalonia, Autonomous Community with the worst and unanimous rating of "Junk Bond" type Ba3 (Moody's), B + (S&P, before contract renewal in September 2018), BB (Fitch) and BB high (DBRS).El bono basura de Cataluña lo paga... España (Catalonia's junk bond pays for it ... Spain)In view of the dramatic destination towards which Catalonia is heading, it would be interesting to know what a strange pleasure your contumacy gives you, Ian George le Fèvre, in continuing to make reference to a pamphlet subsidized by the Catalan pro-independence government, with the money of all the Spaniards.I await your answer and I have already told you, many times, that I will not adopt you.

Carriers faced with the likelihood of a steep decline in earnings are taking many steps to mitigate losses.Spot rates in container shipping markets have weakened substantially despite an increase in blank sailings by carriers, while the volume of idle capacity in the world boxship fleet continues to grow.Carriers, faced with the possibility of shrinking revenue and increased losses, have opted to cut their rates with the Shanghai Containerized Freight Index on the Shanghai Shipping Exchange showing significant declines.The SCFI index, which resumed operation on February 14, showed Asia-Europe rates fell more than 12% from the pre-holiday level on January 23, and transpacific rates slid 6-8%. Several Chinese cities are still not allowing office and factories to reopen following coronavirus outbreak meaning production and sales have suffered.Carriers have tried to cope with the virus-led fall in cargo demand by withdrawing sailings. The Sea-Intelligence consultancy recorded 25 extra void sailings on the trans pacific trade last week, up from 21 a week ago. This is in addition to the 61 cancellations resulting from the original New Year holiday.On Asia-Europe trade, the tallies are 22 versus 10 over the same period, plus 44 blanked sailings driven by the Chinese holiday.The blanked sailings, as well as delays to scrubber retrofits, have had the knock-on effect of increasing the number of idle vessels in the world containership fleet.New figures from Lloyd’s List Intelligence show that from the end of January, the total amount of idle capacity stood at 326 vessels, comprising 757,478 teu, representing 3.4% of the global fleet.Please note: TEU stands for Twenty-Foot Equivalent Unit which can be used to measure a ship's cargo carrying capacity. The dimensions of one TEU are equal to that of a standard 20′ shipping container. 20 feet long, 8 feet tall. Usually 9-11 pallets are able to fit in one TEU.This was already up from 3.2% at the start of the month, as the normal seasonal reduction in demand began to see idle numbers rise. But in the past two weeks that number has increased again, with 834,198 teu, or 3.7% of fleet capacity, now unemployed.Alphaliner noted this week that a number of carriers have already announced further blank sailings in the coming weeks and forecast that this could push the inactive fleet capacity to more than 1.6m teu, with all ship sizes above 1,000 teu negatively impacted.The extent to which coronavirus has already been factored into the earnings potential of major carriers is likely to be revealed in the coming days as container lines Maersk and Hapag-Lloyd release their outlooks for the year ahead.Containers stacking upThe situation with idle fleet capacity is exacerbated by the large number of ships undergoing retrofits in Chinese shipyards, or waiting to enter them, which are likely to be further delayed by labour shortages.A lack of workers is also seriously affecting port operations in China, with containers stacking up at a number of ports due to a lack of truck drivers returning to work following the holiday.Due to the coronavirus effects, lots of containers have been stuck at the Ningbo-Zhoushan port, seriously affecting foreign trade and port operations. In an attempt to alleviate the situation, a compulsory 14-day quarantine period will be removed for non-local drivers from regions deemed with low virus risks as part of the package of solutions to the problem, according to the document.The aim is to bring 3,000 drivers back on the roads by February 23, and to double that number by the end of the month and resume normal operations at the port.Carriers are responding to the situation by imposing surcharges on reefer boxes going into certain Chinese ports. For example, Ocean Network Express (ONE) has imposed a $1,000 per container congestion surcharge on reefer boxes going into Shanghai and Xingang in Tianjin, effective immediately.The Japanese carrier explained that due to the slow inbound container pick-up activity caused by the outbreak of the coronavirus and the extension of the Chinese New Year holidays, Xingang and Shanghai in particular, as well as some other Chinese terminals, are facing a serious shortage of available reefer plugs.CMA CGM and its APL unit have imposed a $1,250 surcharge for reefers for the two ports, as well as Ningbo. German carrier Hapag-Lloyd also announced that it was adding a global $500 per teu surcharge for reefer boxes destined to China.LNG cargo diversionsFinally, up to 20 liquefied natural gas (LNG) cargoes may be forced to divert to new destinations between now and the end of April, as China cancels deals on reduced demand.LNG shipments to China are expected to fall by 1.3m tonnes alone in February, equivalent to about 20 cargoes, which will be followed by smaller decreases in March and April, according to estimates from ship brokerage and advisory firm, Poten & Partners.Reports suggested that China National Offshore Oil Corp has invoked force majeure on contracts with three suppliers, namely Shell, Total and Qatar Gas.Ref: From the News Desk: How is the coronavirus affecting shipping?

Hmm…obviously the things have gone for a toss for BSNL…It seems no one knows what’s next…It has been almost 4months post VRS. Nothing, except VRS, in the revival package has been materialized so far. No 4G , no restructuring, even no regular salaries for the employees. Well its strange to see the that the company is still functional.Insiders say, if you want to learn mismanagement, just goto BSNL CO office. Best place to learn something like that. The course will be headed by ITS cadre people. Hell!…God knows why they are still in the company. These people should be removed first. They do not have any sort of attachment with the company. Their salaries, perks and all benefits decided by Govt. of India (DoT). These people should be, literally speaking, replaced by experienced technocrats. They know the stuff happening from the field level. They will have a vision and can clearly define work for employees under them. Since BSNL is a strategic asset, gig economy like concept won’t work.Employees should be motivated, encouraged like anything. It’s only bcz of its employees’ only the company is still functioning in many areas. They are spending money from own pockets even in these tough times for O&M.Targets should be made rational & sensible. Not quantity but quality of the work should be given importance.It’s for sure the company can’t function like this in future with the existing oganisational structure. There is no transparency, no well defined work culture or nothing, most importantly no vision. Either it should outsource all last mile activities to strong contract or it has to withdraw from businesses that includes landline, BB, FTTH, even mobile services and just focus on core network. If this is the case then VRS part2 will have to be on its way (still some 75K employees remain).Trade union activities which played a prominent role so far is subsiding slowly. These groups have also played a huge role in the downfall of the company.Other chance is to disinvest. It would bring more professionalism to the setup.One thing is for sure, opportunities for BSNL in future is never ending (5G, IoT, Blockchain, datawarehousing) but at present it all depends on outcome of many decision makers and they are too much in numbers ( GoI, DoT, MoC, MoF, TRAI, DoPT and finally maybe BSNL board)…