Tag: Funding

Filter By:


Shipping industry looking to new sources of funding

According to survey by international legal practice Norton Rose Group The shipping sector is looking to new sources of finance in place of bank funding, according to survey by international legal practice Norton Rose Group.While 43% of respondents said that they expect their primary source of funding will continue to come from bank debt over the next two years, 31% said that they expect this would come from private equity and 18% from export credit agencies.Some 42% of respondents to the Norton Rose Group survey believe that a lack of available funding poses the greatest threat to the stability of their business and 40% say that the cost of borrowing is their primary concern.Harry Theochari, global head of transport, Norton Rose Group, says: "The past three years has seen a notable decline in the availability of bank lending to the shipping sector and this has had a considerable impact on many shipping businesses. Shipping companies are now looking beyond traditional forms of finance and are readying their businesses to weather further economic uncertainty over the next 12 months.""The key priority post-2008 has been to ensure secure funding lines are in place. The sector is drawing on the experience of the ...

Read more

Did ExxonMobil break Its promise to stop funding climate change deniers?

Exxon provided $55,000 for a study on Arctic climate change in 2007 and 2008 Back in 2008, ExxonMobil pledged to quit funding climate change deniers. But according to new documents released through a Greenpeace Freedom of Information Act request, the oil giant was still forking over cash to climate skeptics as recently as last year, to the tune of $76,000 for one scientist skeptical of humankind's role in global warming.This-and much more-came to light in a new report about the funding of Wei Hock "Willie" Soon, an astrophysicist with the Harvard-Smithsonian Center for Astrophysics.Soon has been a favorite among climate skeptics for years, since coauthoring a paper back in 2003 that claimed that the 20th century was probably not the warmest, nor was it unique. That paper, published in the journal Climate Research, was widely criticized by climate scientists for its content, not to mention the funding it received from the American Petroleum Institute. An astrophysicist by training, Soon has also claimed that solar variability-i.e., changes in the amount of radiation coming from the sun-are to likely to blame for warming temperatures.In 2007, Soon coauthored a paper challenging the claim that climate change harms polar bears. The paper drew plenty ...

Read more
Page 23 of 23 1 22 23