Autumn share mauling creates bargain buys

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Panic buying prompts toilet roll rationing Down Under

first_imgDespite government assurances, there has been a run on some items at Australian supermarkets in recent days, with images on social media purportedly showing shelves stripped of goods such as toilet paper, pasta and canned food.Retailers have also experienced shortages of masks and hand sanitisers amid fears over the deadly coronavirus outbreak, which has infected more than 90,000 people and killed 3,100.The vast majority of cases have been in China, but South Korea, Italy and Iran have also emerged as hotspots.Australia has reported 41 confirmed cases of the virus, including one death.Prime Minister Scott Morrison said he had spoken to the country’s two major supermarket chains — Woolworths and its rival Coles — about their response to panic buying.”I can understand why people may be concerned, and go to supermarkets, and do those sorts of things. But the advice is that’s not necessary,” he told 2GB Radio on Wednesday.Topics : Australia’s biggest supermarket on Wednesday announced a limit on toilet paper purchases after the global spread of coronavirus sparked a spate of panic buying Down Under.Woolworths said the restriction of four packs of toilet paper per person would apply “to ensure more customers have access to the products”.”It will help shore up stock levels as suppliers ramp up local production and deliveries in response to higher-than-usual demand,” the company said in a statement.last_img read more

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Sembcorp Builds World’s First FSO with 40-Year Hull Lifespan

first_imgSembcorp Marine has completed the world’s first floating storage and offloading (FSO) vessel with a 40-year hull lifespan, the FSO Ailsa.The unit, built for oil and gas company MODEC and christened on May 9, will enter service with a hull designed to have twice the average hull fatigue lifespan of other newbuild FSOs, as verified by marine assurance company DNV GL.A longer hull fatigue life enables ships to withstand harsher and more extreme environmental conditions, such as rogue waves, corrosion, large ambient temperature variation and thunderstorms.Equipped with a 430,000-barrel condensate storage capacity, FSO Ailsa also boasts a 25-year continuous operability without drydocking and full compliance with strict UK safety regulations for harsh-environment operations. The unit is scheduled to set sail next month for the Culzean gas field in the UK North Sea.“FSO Ailsa, the 46th floating unit MODEC has accomplished for the offshore oil and gas production industry, represents a significant milestone for us as it is the first one we have built for the North Sea oil and gas sector,” Sateesh Dev, President & CEO of MODEC Offshore Production Systems (Singapore), said.FSO Ailsa is Sembcorp Marine’s first floating storage and offloading newbuild project, constructed over 22 months with a zero Lost Time Incidents record.last_img read more

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