Equinor may build the world’s largest floating offshore wind project in South Korea

first_img FacebookTwitterLinkedInEmailPrint分享CNBC:Energy powerhouse Equinor has formed a consortium with the Korea National Oil Corporation and Korea East-West Power to develop a floating offshore wind project.In an announcement Thursday, Equinor said the consortium would undertake a feasibility study for the 200-megawatt project, which would be located off the coast of Ulsan, South Korea. Pending the results of that study, construction of a floating offshore wind farm will commence in 2022, with the possibility of “power production start-up” taking place in 2024.Stephen Bull, senior vice president for the wind and low carbon cluster of New Energy Solutions at Equinor, said the company was “very pleased to be member of the partnership involved in realizing the first floating offshore wind farm in Asia.”Bull added that if the project was successfully realized, it would be the world’s biggest floating wind farm.Equinor already operates Hywind Scotland, the world’s “first full-scale commercial floating offshore wind farm.” Located off the coast of Scotland, the facility has a capacity of 30-megawatts and started production in 2017.More: South Korea could soon be home to the world’s biggest floating offshore wind farm Equinor may build the world’s largest floating offshore wind project in South Korealast_img read more

Interest only? Market analyst slams UBS survey finding 1 in 3 borrowers clueless about home loans

first_imgNearly a quarter of interest-only borrowers who are already under high stress are considering selling their property, according to UBS.Thirty-five per cent of interest-only borrowers said they were already under “moderate” stress, while 36 per cent said they were under “high stress”, according to the survey of more than 900 people who had taken out home loans over the past year.UBS analysts described the findings as “concerning”, with $640 billion worth of interest-only mortgages outstanding in Australia. GET THE LATEST REAL ESTATE NEWS DIRECT TO YOUR INBOX HERE Global investment bank UBS has found 1 in 3 borrowers with interest-only mortgages don’t know they have them. Photo: Kenzo Tribouillard.“We are concerned that it is likely that approximately one third of borrowers who have taken out an interest only mortgage have little understanding of the product or that their repayments will jump by between 30-60 per cent at the end of the IO period (depending on the residual term),” UBS analyst Jonathan Mott said.“While these loans are well secured, we believe many borrowers may face substantial stress as interest rates rise or when they revert to principal and interest.” Heritage-listed unit block sells for first time in 80 years More from newsMould, age, not enough to stop 17 bidders fighting for this homeless than 1 hour agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investorless than 1 hour ago Mortgage stress continues to rise Brisbane’s most in-demand suburbs Interest-only loans don’t require any payment of the loan’s principal amount for a fixed period at the start of the loan, meaning monthly repayments are lower at the beginning but jump dramatically later on. A UBS survey has found 1 in 3 borrowers with interest-only home loans don’t know they have them.A NATIONAL property market analyst has slammed a UBS survey finding a third of borrowers with interest-only home loans don’t even know they have them.The global investment bank survey also found nearly a quarter of interest-only mortgage holders who are already under high stress are considering selling their property, while 17 per cent will need to draw down other lines of credit to meet higher interest rates. UBS analysts are concerned 1 in 3 borrowers with interest-only mortgages are clueless. Picture: Alex Wisser.However, the UBS analyst believes there is a real risk many consumers do not realise their mortgage payments will rise in this manner.But Simon Pressley, who is the managing director of buyers agency Propertyology, has rejected the UBS survey findings.Mr Pressley said it was “unbelievable” that one third of borrowers with interest-only mortgages would not have realised what kind of loan they were taking out.“It’s one of the biggest decisions you make and it’s not a hard concept to understand,” he said.“I can’t imagine anyone would be that silly.” Propertyology managing director Simon Pressley. Picture supplied.Mr Pressley questioned the motivation of the investment bank and the small sample size of the survey. “Why are they making these statements? There’s no way in the world they could back that up because the sample’s so small — what’s their motive?”“They’re accusing a large segment of this country of being fools. “These loans aren’t new, so why are they going totally out of their way to make these massive, scary big statements.” Earlier this year, the Australian Prudential Regulation Authority introduced measures that put a restriction on new interest-only lending to 30 per cent of all new loans.Many banks responded by hiking rates for interest-only loans.The findings come as mortgage stress continues to rise, with ratings agency Moody’s reporting that late mortgage payments had hit a five-year high.last_img read more

West Florida Volleyball Bitten By the Wolves in the Conference Final

first_img Nov. 10, 2007 Box Score  SEARCY, Ark. – A red-hot West Georgia team had an answer for every West Florida attack, as the Argos fell in the conference final by a 30-21, 30-27, 30-19 score. In each game, West Georgia pushed out to a lead, and West Florida had to fight back. In the end, Andressa Marteens and Caroline Schoeneck were too much for West Florida, as the two combined for 32 kills. West Florida Outside Hitter Isabela Gualberto did her part to keep the Argos in the match with 17 kills.In game one, West Georgia roared out to a 16-11 lead. Then Jesse Keroack had a big block to help pull the Argos close, and provide some momentum. With the score at 24-21, West Georgia put together a string of points, one of which included a spectacular dig by Kayla Spencer, and the point ended with a kill for West Georgia. That point seemed to set the tone of the match, as every strong attack by West Florida was recovered by West Georgia, with either a block or a great dig. Marteens would end game one with six kills for the wolves, as they won the first game 30-21.In game two, the Argos came out strong and held a lead of 13-11, until West Georgia reeled off four points, with two of them coming on blocks. West Georgia would go up 17-14, until a Chelsea Wilhoite kill stopped the momentum. Down 28-22, West Florida got a spark from Louann Rusch, who came off the bench to record a kill that sparked a rally of three consecutive points, but it wasn’t enough as Marteens ended game two with back to back kills.In game three, the hungry wolves could sense a conference championship, and despite valiant efforts from West Florida, it was definitely West Georgia’s night. West Florida Head Coach Melissa Wolter would say afterwards, “West Gerogia really earned it, they could do no wrong out there. They are an extremely talented team, and they got hot at the right time.” West Florida had defeated West Georgia twice this season in five set matches, and the two teams match up very evenly on paper, but tonight the Wolves were just a bit more sharp.Andressa Marteens was the tournament MVP, while Schoeneck, and Jordan McDonald made the all-tournament team for West Georgia. Kimberly Clark, who recorded 11 kills in the final, was an all-tournament selection, along with Gualberto for West Florida. Edith Musebe of Henderson State, and Danielle Palasak of North Alabama rounded out the all-tournament team. In the final match, Jerica Carter would lead the Argos with 12 digs, and Madeline Gonzalez dished out 32 assists, but it was the eight blocks by West Georgia that made the most difference.West Florida drops to 32-6 on the season, and will await a bid to the NCAA tournament in the next few days. West Georgia earned an automatic bid with the Conference championship, and they improved to 27-11 on the season. West Florida is ranked 24th in the nation and third in the South Central region, and should receive a bid to continue their remarkable season. Print Friendly Version Share West Florida Volleyball Bitten By the Wolves in the Conference Finallast_img read more

After disappointing 4th-place finish in Wisconsin, SU men’s cross country looks to rebound

first_img Facebook Twitter Google+ Comments To Forest Misenti, the Syracuse men’s cross country team wasn’t ready for the Wisconsin Invitational, in which the squad placed fourth on Oct. 2. Misenti wasn’t happy. But now he’s eager. Eager for a win after the fourth-place finish. ‘I’m definitely hungry to race well,’ Misenti said. ‘It was definitely tough going to Wisconsin and getting beat by teams we figured we were ahead of. We weren’t really ready for Wisconsin.’ But though the sophomore isn’t happy about taking the loss, he knows the most important meets are still ahead on the schedule for the Orange. Instead of the team being upset and angry about its last performance, the mood inside of Manley Field House on Monday was upbeat as the runners met with head coach Chris Fox before the start of practice. Sitting on the turf, Misenti and junior Steven Weeks joked around with one another. As two of the older runners on the team, the duo is trying to create even more team unity by convincing everyone to wear crazy hairstyles for the rest of the season. Misenti is currently sporting a spiky version of a Mohawk that he calls ‘The Zipper,’ while Weeks is wearing a more traditional one with both sides cut low. Only a few members of the team have decided to join in with the two thus far, but more are starting to come along as more players with mullets and Mohawk haircuts are walking into practice each day.AdvertisementThis is placeholder text The vibe at practice is filled with nothing but positivity. But Weeks isn’t forgetting about what took place in Wisconsin. ‘We talked in the vans a little bit after the race and didn’t do much dwelling,’ Weeks said. ‘But we just talked about putting that chip back on our shoulder and running like we’re the underdogs again. We used it to get angry and to get upset, and that helped to put that chip back on our shoulders.’ Fox isn’t one of those coaches who believe in the philosophy of ‘a good loss.’ Fox wanted domination. And though the Orange beat some ranked teams in Wisconsin, that complete domination just wasn’t there. But Fox does understand this was a learning experience for his team. And he understands it could be a motivating factor going forward. ‘I think everybody grew up a little bit,’ Fox said. ‘We did lose, but we still probably beat five ranked teams. We did OK, we just didn’t dominate like maybe we would’ve liked to. Maybe we were a little complacent. Maybe we thought we were a little better than we were. And so we’ve stepped on the gas a little bit over the last 10 days.’ The team will travel to Charlottesville, Va., this week for the Panorama Farms Invitational and is planning to get back to its winning ways. Even after the setback of the Wisconsin Invitational, Fox said the team is positioned well, with only three meets remaining before the Big East championships. ‘We’re right where we want to be,’ Fox said. With hopefully all of the mistakes out of the way, Misenti is confident in himself and his teammates as they get ready for Virginia. Coming off a disappointing meet and an additional week of practice time, Misenti harps, once again, on that eagerness to get back out and race. ‘I think, looking forward, everything is going to come together,’ Misenti said. ‘The team looks sharper every time we do workouts. I still believe we can be a top-five team, no matter who we’re racing on that day.’ cjphil01@syr.educenter_img Published on October 11, 2010 at 12:00 pmlast_img read more