Lackluster Freight Rates Push China COSCO Further into Loss

first_imgzoom Dragged by lackluster freight rates in the container shipping market during the first half of 2016, the shipping and logistics company China COSCO Holdings Company Limited recorded a net loss of CNY 4.8 billion (USD 720 million) for the period.Despite the slower growth of shipping capacity when compared with last year, no significant improvement was made in the imbalance between supply and demand of the shipping sector, China COSCO said, adding that “the freight rates stayed weak and repeatedly fell to record lows.”The freight rates of main routes between Europe and America dropped by some 40% year-on-year, and those for the routes between Asia and Europe plunged to USD 50/TEU.In the face of challenging market conditions, China COSCO implemented business reform and restructuring in the first half of the year. The company said that it achieved progress in the consolidation of container shipping business, which was launched on March 1, 2016.As of the end of June this year, COSCO’s fleet had 304 vessels with total capacity of 1.61 million TEUs, representing an increase of 83.3% year-on-year, while it handled 7.4 billion TEUs during the period, an increase of 39.2% year-on-year.As at the end of the first half the company’s terminal segment operated 171 berths across the coastal regions in China and several major ports in the world. Of which, 149 berths were for container shipping, 20 berths for dry-bulk cargoes and two berths for automobiles.“Looking ahead into the second half of 2016, the growth rate of global container fleet capacity is expected to slow down, while the market demand is expected to pick up in the third quarter, the traditional peak shipping season. However, the container shipping industry will continue to be plagued by over-capacity problem and the market condition will remain challenging,” China COSCO said.last_img read more

Bulletin Shorter Wait Times Improved Services in Childrens Mental Health

first_imgStandard Wait List Measurement The first critical step in improving access to mental-health services is to gather consistent, reliable information. Now, district health authorities measure wait times differently for non-urgent mental-health services (there are no wait times for urgent care). Government is working with the IWK Health Centre on standard definitions and criteria, with the goal of having a consistent approach to measuring wait lists provincewide. More Family Help The IWK Health Centre delivers a Family Help Program for families whose children are experiencing behavioral problems. Families are provided with print materials and videos, then connected with professional coaches by telephone. Families can contact their coaches at any time. The IWK has used this program to shorten the wait list for mental-health services. Through effective front end screening, children with mild to moderate behavioral issues are transferred from the wait list into the Family Help Program. As a result, almost 200 children were moved off the wait list, and they and their families received services more appropriate to their needs. Collaboration Between Child Welfare and Mental Health In more serious cases, parents may feel they can no longer cope and therefore reach out to child welfare for help with their child’s behavior or emotional issue. In these cases, a collaborative team approach is needed. Government will pilot a team approach where two professionals (e.g., a psychologist and social worker) will be hired to work closely with child welfare staff, early childhood educators, family resource centres, teachers, special educators, children and families. The team will develop a plan for services tailored to meet the unique needs of each child and family. Government is investing $250,000 to adapt and expand the program to the Cape Breton District Health Authority. The Child Welfare-Mental Health partnership at the IWK Health Centre is being supported by an investment of $180,000. More information on these programs is available on pages 31, 42 and 43 of Our Kids Are Worth It. -30- Note: More information on the Child and Youth Strategy: Our Kids are Worth It is available online at .last_img read more