Cellnex strikes €800M Portugal tower deal

first_img Cellnex estimula la llegada a Europa de las empresas de torres de EEUU Author Previous ArticleSwantee quits Sunrise in wake of failed cable dealNext ArticleInterview: LG Uplus Home Cellnex strikes €800M Portugal tower deal Kavit joined Mobile World Live in May 2015 as Content Editor. He started his journalism career at the Press Association before joining Euromoney’s graduate scheme in April 2010. Read More >> Read more Cellnex catalysing US tower moves in Europe Kavit Majithia Related Cellnex Tags Infrastructure company Cellnex agreed to acquire Portuguese tower operator Omtel for €800 million, deepening its footprint across Europe.In a statement, Cellnex said its entry into Portugal means it has a presence across eight European markets as it assumes control of Omtel’s 3,000 sites in the country.It agreed to acquire the company from Altice Europe and Belmont Infra Holding’s.Going forward, Cellnex plans to roll out 400 sites in the next four years, and keeping in mind the market’s evolution, including 5G rollout, it could build another 350 sites by 2027.It estimated making an investment of around €140 million to fulfil its plan.Omtel’s current sites represent 25 per cent of the total telecoms towers in the Portuguese market, and the company counts Portugal Telecom as one of its major customers.Cellnex continues marchCellnex CEO Tobias Martinez said the push into Portugal “naturally extends” its current geographical coverage, and it could see operational synergies with its operations in Spain.Marking the start of 2020 with another deal, Cellnex has picked up where it left off in 2019, a year when it made several acquisitions and strategic moves in the tower space.The company struck deals with Iliad in France and Italy, Salt in Switzerland, BT in the UK, Orange in Spain among others.Since its IPO in 2015, Cellnex said it has committed to investments to the tune of around €12 billion up to 2027, for the acquisition or construction of up to 48,000 telecoms infrastructures. Subscribe to our daily newsletter Back AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 03 JAN 2020 UK examines Cellnex tower buylast_img read more

News / Scrapyards set for new wave of box ship demolition as idle fleet grows

first_img By Mike Wackett 02/06/2020 At 7,403 teu, the Kokura will be the largest containership ever to be scrapped, but with the idle tonnage fleet growing fast and set to breach 3m teu, this unwanted record is likely to be shortlived.Moreover, in their quest to match supply with a significant slump in demand, ocean carriers are in the process of off-hiring as much chartered tonnage as possible, resulting in a substantial spike in containership lay-ups. And with little chance of a recovery in global demand this year, boxship owners with returned vessels will have few options other than to consider demolition.One broker source told The Loadstar this week the containership sale and purchase market was “dead” – other than for distressed owners and opportunist buyers.“Nobody’s selling unless they really have to, and offers that do come in are barely above demolition rates, even for younger ships,” he said.“The other problem for owners is that the slump in daily hire rates will eventually filter through into the asset values of their ships and potentially put them in breach of their mortgage covenants with lenders,” he added.One industry analyst described containership owners as being caught in a “vicious circle”.“Once vessels are off-hired they have very little chance of a new fixture, especially for older ships, so they might decide to consider the demolition option, but if they can actually find a buyer, they will be facing a price shock.“I’ve heard recently of prices as low as $200 per LDT being offered by Turkish breakers, and at that rate they might not even clear their debt,” he said. “And with the world not exactly clamouring for steel at the moment, scrap prices could go further south.”Containership owners that enjoy long fixed-rate charter party contracts with ocean carriers can rest easier. But even though they are technically insulated by the duration of the agreement, they will hope that the liner crisis does not bring another Hanjin Shipping bankruptcy that in 2016 left the shipowners with millions of dollars of unpaid contracted revenue. Demolition markets in the Indian subcontinent have now largely reopened and are preparing for a new wave of containerships for scrapping.According to London-based shipbroker Braemar ACM, just 14 have been demolished so far this year, compared with 58 ships by the same time in 2019.However, due to the pandemic, there have been reports of up to 20 ships having been sold for scrap in the interim and now await the cutting tools.Scrapping rates have slumped by around 25% since January, with current price ranges from breakers in India, Pakistan and Bangladesh said to be around $300-$330 per LDT. Indeed, non-operating containership owner Costamare reportedly sold the 1997-built post-panamax Kokura on 26 May to Indian breakers for $10.9m, the latter price.center_img © Bayazid Akter last_img read more

Typo in Email Address Spells Romance For Two Salazars

first_imgTheir conversation flowed easy — even with 8000 miles between them — and love soon followed.(READ or listen to the StoryCorps tale at NPR)AddThis Sharing ButtonsShare to FacebookFacebookFacebookShare to TwitterTwitterTwitterShare to EmailEmailEmailShare to RedditRedditRedditShare to MoreAddThisMore AddThis Sharing ButtonsShare to FacebookFacebookFacebookShare to TwitterTwitterTwitterShare to EmailEmailEmailShare to RedditRedditRedditShare to MoreAddThisMoreThis is the story of a romance that began with a typo. In 2007, Rachel Salazar was living in Bangkok, Thailand, and Ruben Salazar was in Waco, Texas. Their email addresses were nearly identical. Ruben received an email sent to the wrong person and forwarded it adding his own little message. “Something to the effect of ‘Hi, Rachel, it seems as if this message came to me instead of you. I’m in Waco, Texas, U.S.A. Have a great day. P.S. How’s the weather there in Bangkok?’”last_img read more