Cummins Impacted By COVID-19, Preparing For Decrease In Demand

first_imgShare:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to email this to a friend (Opens in new window) WNY News Now File Image.JAMESTOWN – One of Chautauqua County’s largest manufacturers says they have remained profitable amid the COVID-19 pandemic, but, is preparing for a decrease in demand going forward.Cummins Inc. reported a 5 billion dollar decrease in the first quarter of 2020, down 17 percent from the same quarter last year.“We delivered strong profitability in the first quarter, supported by the commitment of our employees to serve our customers and the benefit of cost reduction actions we initiated in the second half of 2019,” said Chairman and CEO, Tom Linebarger in a statement Tuesday. “Amidst the unprecedented COVID-19 pandemic, the health and safety of our employees and the communities in which we operate is our top priority.”Due to uncertainty related to the pandemic, the Cummins did not provide revenue or profitability guidance for this year. While customer operations have begun to resume activity, the company does expect a significant impact to its second quarter results due to disruptions across customer and supplier operations and lower end market demand.Officials say lower truck production in North America and weaker demand in global construction, mining, and power generation markets drove the majority of the revenue decrease so far.Sales in North America declined by 16 percent while international revenues decreased by 17 percent led by declines in Europe, Asia Pacific, Latin America, India, and China.In response to the anticipated shortfall, the company recently announced a set of cost reduction actions, including a temporary reduction in salaries.“Our teams are working hard to support the global economy, leveraging our flexibility and strong supplier network to help our customers deliver essential products and support response efforts,” furthered Linebarger. “Given the significant impact the pandemic will have on demand across our industry in the second quarter and beyond, we are continuing to take actions to reduce cost and boost our already strong liquidity.”The company is also lowering its targeted capital expenditures by more than 25 percent as compared to 2019 and says they continue to closely monitor market conditions and adjust plans accordingly.For more on the first quarter report, click here.last_img read more

Oslo Set to Become Zero-Emission Port

first_imgMr. Ingvar M. Mathisen and Ms. Heidi Leander Neilson from Oslo PortBeing one of the leading maritime centers in the world, Norwegian Port of Oslo is looking to expand further, meeting at the same time its ambitious targets for reducing greenhouse gas (GHG) emissions.Clear targets are set for 2030, with an 85 percent reduction in current GHG emissions, and after that efforts will continue so that Oslo can become a zero-emission port in the long term.In order to reach its goal of a future zero-emission port, increased sea transport is an important contribution to this green shift. Over the past years, the Port of Oslo recorded a growth in its container volumes, leading to an all-time record in 2018 when the port handled a total of 238,000 TEUs. As the port is growing very rapidly, the port needs to make sure it doesn’t become a bottleneck in this development.With more lines and more vessels calling in Oslo, the port is going to the south, moving out of the city to expand further.Currently, the Port of Oslo is finalizing its Master Plan for the South Port, a new cargo port in Sydhavna, Ingvar M. Mathisen, CEO/Port Director, said in an interview with World Maritime News on the sidelines of Nor-Shipping 2019 event.The overall aim is to make the South Port a large energy ecosystem — to use the energy smarter but also to get smoother logistics between sea and land transport, as explained by Heidi Leander Neilson, Head of Environment at Oslo Port.Watch the full interview below to learn more about how the port wants to get the area effective with the help of clean fuels and all-electric equipment.<span data-mce-type=”bookmark” style=”display: inline-block; width: 0px; overflow: hidden; line-height: 0;” class=”mce_SELRES_start”></span>Specifically, the Oslo Port is responsible for around 55,000 tons of CO2 per year. The greatest sources of emissions at the port are foreign ferry routes, followed by shore activities such as cargo handling and transport at the port site and local ferries.The port has embarked on a number of initiatives that would help it cut its emissions. One of these is a new shore power facility at Vippetangen that opened in January 2019. The transformer contributes to lower climate gas emissions by providing ferries with shore power.In addition to Color Line ships, ferries operated by DFDS and Stena Line now also get power at the port when at berth.World Maritime News Staff; Images by WMN.last_img read more

Forbidden subjects in New Zealand politics

first_imgDominion Post 21 April 2012The Dominion Post has a feature on Euthanasia, Gay adoption, and abortion. Family First is quoted in two of the categories. The article highlights which political parties are pushing the issueGay Adoption…. A spokesman for Mr Key says that while the Adoption Act has not been amended for some time, there have been several reviews since 2000. The Government will consider whether adoption laws need updating “as other priorities allow”. In the run-up to last year’s election, Labour introduced its Rainbow policy, pledging to tackle the issue. But Mr Hague is critical. “On same-sex adoption Labour made a big deal just before the election, of course, to gay community audiences . . . but the fine print is, of course, that actually their policy is still to allow all of their members a conscience vote. “If you are not at least guaranteeing that your members of Parliament are going to vote for something I don’t know that the policy has a lot of meaning.” Labour’s social development spokeswoman, Jacinda Ardern, says it is likely to remain a conscience issue but stresses it is about “updating our law in its entirety… I would hate to see anyone narrow this issue”. Although her party made “significant amendments” to guardianship laws, work on adoption was never completed. “National has indicated that for them, it’s not a priority,” she says. “I do think that the fact this would require tackling the inequality in the law and the issue of same-sex adoption . . . is certainly a big part of why the Government hasn’t touched it, certainly Simon Power’s valedictory seemed to suggest that.” Former justice minister Mr Power retired last year, saying it was Parliament’s role to tackle the big issues. Gay rights advocate Rainbow Wellington has asked for meetings with MPs to discuss a law change. Chairman Tony Simpson says Labour and the Greens are “sympathetic”. “Really it requires one of those three main parties to pick it up. The National Party, we’ve had no response whatsoever. In fact, you could change the bit in specific relation to same-sex adoption very easily, just a fairly small amendment.” Lobby group Family First welcomes a debate – but argues same-sex adoption is an “adult- centred” policy which “harms children because it intentionally creates motherless and fatherless families . . . it is dangerous ground”.Abortion…Recent figures show a decline in both the rate and overall numbers of abortions, with 16,630 terminations in 2010, down from 17,550 the year before. Right to Life recently released figures showing that between 2009 and 2011, 877 women were treated in hospital following complications after abortions. The group wants better reporting of statistics by the Abortion Supervisory Council. Family First says the number of abortions “represents the worst of child abuse” and wants the law amended to “protect the unborn from conception”. Dr Healey hopes the debate will shift from whether numbers are too high, to the impact “outdated” abortion laws are having on women.…The subsequent furore and the departure of Ms Chadwick from Parliament will see the subject slide quietly off the radar, save for court battles between anti- abortionists and the Medical Council or the Abortion Supervisory Committee. “It’s going to take a real strong politician with some really strong support, either within the party or across parties to push through anything like that,” Dr Healey says. However, the Abortion Law Reform Association does see parental notification for under-16s seeking a termination as “a possible threat”. The move is supported by socially-conservative Cabinet members such as Judith Collins and Bill English. “From the intel we have had, Family First have had meetings with the prime minister on what their position is around the need for parental notification.” John Key’s office says he last met with Family First earlier this year and several issues, including parental notification, were discussed. The prime minister noted the group’s position “but no commitments were made”. Both National and Labour MPs exercise a conscience vote on abortion. read more

O’Neill looking to gain momentum

first_imgMichael O’Neill rates Sunday’s victory in Hungary as his best result in charge of Northern Ireland but insists it will only matter if they follow up by beating the Faroe Islands next month. Press Association O’Neill has previously overseen a home win against Fabio Capello’s Russia and a 1-1 draw with Portugal in Porto, but the 2-1 success in Budapest immediately overtook both as his favourite result since taking over from Nigel Worthington. That is down to timing more than anything, with close-range finishes from Niall McGinn and Kyle Lafferty giving Northern Ireland the best possible start to Euro 2016 qualifying. “But we can’t get ahead of ourselves. These are the kind of games, when we’re underdogs, that we go out and pick up points, but it’s the next game against the Faroe Islands – when we should beat them – those are the games where we’ve struggled.” Northern Ireland captain Steven Davis was also celebrating, having led his side to the first away victory of his tenure. The Southampton midfielder has long been a shining light in otherwise unimpressive performances, but this time the 29-year-old was able to reflect on a positive display. “We’re not going to get carried away but we caused them problems and I think we deserved the win,” he said. “Everybody gave their all and that’s what it’s going to take if we’re going to do anything out of this group. “Of course we know we’re not going to come away from home and dominate possession against quality sides but we’re going to try and build on this and get a bit of consistency. “Hungary are a good side and are ranked above us, but I thought we were really disciplined in our play and had to be patient at times. “Whenever we got a chance to play we put some nice patterns together. “But we also had that kind of ruthlessness in the final third which you need in games like this.” But despite the good feeling created by a first away win in over four years, O’Neill is already looking to the next test – a visit from Group F’s relative minnows. “This results feels bigger than Russia or Portugal because it means we’ve started the campaign on the front foot with three points away from home,” he said. “I felt we missed the opportunity to get some momentum going early in the last campaign but we haven’t missed it this time and that means we need to push on from here. “The truth is these three points are only as valuable as what we make of them. “We have a home game against the Faroes now which sets us up to be in a good position after a couple of games, but we have to make sure we do that.” Lafferty, who did more than anyone to drag his side over the line, echoed those sentiments. The 26-year-old Norwich striker made the piercing run and cross that teed up McGinn for the equaliser 10 minutes from time and then showed admirable endeavour to hook the winner over the line in a scramble. But looking ahead to the next test, he said: “When we dig deep, we’ll pick up points and we’ve done that this time. last_img read more