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first_imgPerpres No. 70 limits government intervention in sea freight, allowing it to apply the PSO scheme only to staple, industrial and other essential goods.Carmelita added that private companies were losing out on the type of load they could transport “on routes that intersect with the subsidized Tol Laut program”.”We don’t want to compete with the government,” she stressed.She also urged the government to reallocate a portion of the subsidy for developing regional port services to increase outbound logistics and improve shipping revenue.The Transportation Ministry has allocated Rp 436 billion (US$29.7 million) to subsidize the maritime highway program this year, up Rp 136 billion from last year to accommodate seven additional routes from 19 in 2019 to total 26 routes today.Echoing Carmelita, maritime economist Raja Oloan Saut Gurning of the 10 November Institute of Technology said that the government should use the subsidy program only for establishing new shipping lanes. Once the new lane was economically viable, it should exit the program.“Theoretically speaking, the subsidy program should be used only as a temporary measure until the operation is handed over [sic] to the market mechanism. Government intervention through the subsidy [program] should not disrupt the market,” he said.Saut also urged the government to integrate existing and future shipping lanes to prevent overlap between private shipping companies and Tol Laut freighters. It should also streamline the shipping licensing procedure to increase private-sector participation in the domestic marine freight industry.“We still need to synergize several [lanes] to ensure business sustainability,” he added.Morotai Island regency in North Maluku, which is a targeted beneficiary of the Tol Laut program, had only experience a fractional decline in the prices of staple and essential goods since the program was implemented, regent Benny Laos said at Monday’s webinar.“We thank the government for the Tol Laut program, as it helps our [regency’s] economy. However, to be frank, the prices have only decreased around 5 to 15 percent,” he said.Despite its shortcomings, Benny said that the program had increased the price of Morotai Island’s tuna from Rp 25,000 to Rp 38,000 per kilogram because of the refrigerated containers it provided, which enabled local fishers to ship fresh tuna directly to Surabaya instead of indirectly through middlemen in Bitung.“Morotai has been able to increase direct shipments of local products to Surabaya, such as tuna […]. We do feel the impacts of the program, which has increased the income of the Morotai people,” he said.Topics : “We are planning to transform the Seba seaport in Kupang into the logistics hub for [East Nusa Tenggara],” Budi said on Aug. 24 during a webinar the ministry held in collaboration with Detik.com.Despite the minister’s optimism, INSA chair Carmelita Hartoto criticized the program during the webinar that it was undermining fair competition for private shipping companies.“Private shipping lines are currently experiencing unfair competition because the Tol Laut program is being used to ship nonessential goods [at much lower prices],” she said.Carmelita has called on the government to comply with Presidential Regulation (Perpres) No. 70/2017 on the public service obligation (PSO) of shipping freight in outlying regions, which revised Perpres No.106/2015 on the PSO of shipping companies under the maritime highway program. The Indonesian National Shipowners Association (INSA) and an industry expert have called on the government to reevaluate the subsidized “Tol Laut” (maritime highway) program to avoid market disruption and unfair business practices.The maritime highway, launched in 2015, is a subsidized shipping program for distributing basic and major consumer goods, as well as steel and cement, to remote regions of the archipelago.Transportation Minister Budi Karya Sumadi said that the maritime highway program aimed to reduce price disparities across the country, especially in eastern Indonesia, generally due to shipping and logistics costs.last_img read more

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first_imgLast Updated: 11th August, 2020 12:54 IST Formula 1 Revenues Drop By Whopping 96% In 2020, Record $136 Million In Losses The latest Q2 F1 financial report released by Liberty Media disclosed the impact of the pandemic on F1 revenue, as it dropped by a massive 96% year on year. Wasiq Agha F1 revenue plummeted to $24m in Q2 2020, down from $620 million in the same quarter of 2019. The fall in F1 revenue resulted in a massive overall loss with Formula 1 posting a $136 million loss in 2020, as compared to a $14m profit in Q2 2019. Overall, the coronavirus pandemic caused F1 revenue to drop by just under $600 million.Also Read: Mercedes F1 Team ‘badly Treated’ Vis-a-vis Ferrari, Unlikely To Sign New Deal: Toto WolffF1 revenue breakup for Q2 2020F1 revenue is divided into ‘primary revenues’ and ‘other revenues’. While primary F1 revenue includes money from race promotion fees, broadcast fees, advertising and sponsorship fees, secondary Formula 1 revenue comprises of hospitality and other event-based and television production activities. In the absence of races and subsequently fans, these figures reported a drop as well. The primary revenue figures reduced to $12m in Q2 2020, versus $531m in Q2 2019, while ‘other’ F1 revenue fell to $12m in 2020 from $89m in 2019.Also Read: Lewis Hamilton ‘ready’ To Commit To Mercedes For 3 Years On Mammoth £180 Million DealF1 TV ratings on the riseWith fans not allowed to attend Formula 1 races, the latest F1 TV ratings and figures have shown a slight increase in viewership. According to Sports Media Watch, the British Grand Prix averaged a 0.47 rating and 736,000 viewers on ESPN, making it the largest audience for the race since it last aired on broadcast television in 2012. Several other broadcasters reported an improvement in viewership as well. Sports Pro Media disclosed that Formula 1’s UK viewership for live races and highlights touched 13.63 million during the first three races of the 2020 calendar.Also Read: Lewis Hamilton Puts Off Signing New Mercedes Deal Due To ‘other People Losing Jobs’The contraction in F1 revenue has also impacted drivers and teams. Championship leader Lewis Hamilton recently talked about how the financial situation has prompted him to delay discussions on a new contract. Lewis Hamilton admitted that while he wants to continue with Mercedes, he feels this is not the right time to discuss numbers regarding a new contract, especially at a time when others are losing their jobs.Image Courtesy: Instagram/F1 SUBSCRIBE TO US LIVE TV First Published: 11th August, 2020 12:53 IST WATCH US LIVE COMMENT Sports around the world have been hit hard by the coronavirus pandemic. With fans not allowed at venues, teams and event organizers have had to suffer heavy losses with no ticket revenue coming in. One such sport has been Formula 1 with F1 revenue suffering massively due to the altered race calendar. A latest F1 financial report released by Liberty Media paints a similar picture, indicating how the coronavirus pandemic has impacted Formula 1’s finances.Also Read: Sebastian Vettel To Replace Sergio Perez At Aston Martin, Could Sign A Three Year ContractFormula 1 revenue crashes by 96% according to Liberty Media reportThe F1 financial report was released by Liberty Media, the US group controlled by billionaire John Malone which acquired Formula 1 in 2016. The F1 financial report for Q2 was released this week, with the financials indicating that revenue from the sport had reduced by 96% year-on-year. Due to the COVID-19 pandemic, the Formula 1 season was suspended with no races taking place during April, May and June. Last year, the same three-month period saw as many as seven races. Written By FOLLOW USlast_img read more

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first_imgTONIGHT:AM-1300 KGLO — Iowa women vs. Wisconsin — 6:45 pre-game, 7:00 tipoff CEDAR FALLS, Iowa (AP) — Kavion Pippen tossed in 18 points on 7-of-10 shooting and Southern Illinois turned back Northern Iowa 58-51 on Saturday night.Aaron Cook and Marcus Bartley scored 14 and 13, respectively, for the Salukis (9-6, 2-0 Missouri Valley Conference), who got just three points from their bench.Bartley and Pippen both had eight points to help Southern Illinois post a 26-24 lead at halftime. The Panthers (6-9, 1-1) opened the second half on an 8-0 run, capped by Isaiah Brown’s 3-point play, to grab a 32-26 lead with 17:15 to play. SIU regained the lead, but two AJ Green free throws cut the Panthers’ deficit to 50-49 with 1:54 remaining. Pippen hit four free throws as the Salukis closed out the game on an 8-2 run.Green finished with 16 points and four assists to pace UNI. Trae Berhow pitched in with 11 points and 11 rebounds for his first career double-double. IOWA CITY, Iowa (AP) — Iowa junior defensive back Amani Hooker says he will enter the NFL draft.Hooker, a first-team All-Big Ten pick and the league’s defensive back of the year, announced Saturday on social media that he’s leaving school early and turning pro.The 6-foot, 210-pound Hooker starred as a hybrid safety/linebacker for the Hawkeyes (9-4) in 2018, picking off three passes while making 65 total tackles. He had six tackles in Tuesday’s 27-22 win over Mississippi State in the Outback Bowl. MINNEAPOLIS (AP) — Andrew Wiggins had 25 of his 28 points in the first half, helping the Minnesota Timberwolves take charge from the opening tipoff and breeze by the LeBron James-less Los Angeles Lakers for a 108-86 victory. Karl-Anthony Towns totaled 28 points, 18 rebounds and four blocks for the Timberwolves, who raised their home record to 14-6, including 8-2 against Western Conference foes. The Lakers fell to 1-5 without James since he strained his groin during the Christmas Day win at Golden State. DES MOINES, Iowa (AP) — Marques Townes had 28 points and five assists, Clayton Custer made six 3-pointers and scored 26 points — both career highs in scoring — and Loyola-Chicago beat Drake 85-74 on Saturday.Loyola shot 63 percent overall, including 12 of 24 from distance, and came back from an early 16-point deficit for its fourth straight conference road win dating to last season.Cameron Krutwig added 13 points, six rebounds and six assists for Loyola (9-6, 2-0 Missouri Valley), which won its opening two conference games for the first time since 2003-04 as a member of the Horizon League.Loyola closed the first half on a 32-13 spurt to take a 46-40 lead as both teams shot over 57 percent from the field with the Ramblers at 69.2.Nick McGlynn had 21 points and seven rebounds, D.J. Wilkins added 16 points and Brady Ellingson 10 for Drake (11-4, 0-2). CLEAR LAKE — The Clear Lake boys remain undefeated after a 67-55 win over Forest City on Saturday afternoon, as you also heard on KRIB. The Lions drained 10 three-pointers in the contest, including five from Tate Storbeck, who finished with 20 points. Freshman Carson Toebe had four three-pointers and ended with 18 points. Clear Lake is now 10-0 and will host Waverly-Shell Rock on Thursday night. MASON CITY – The NIACC men’s basketball team set a school record on Sunday.For the first time in school history, the NIACC men’s team scored at least 100 points in its sixth straight game in the Trojans’ 125-98 win over the Mount Mercy University Junior Varsity. In the 1971-72 season, the Trojans scored at least 100 points in five straight games.The 125 points in Sunday’s contest ranks as the eighth-highest single-game point total in school history. The 125 points is the most in a single-game by a NIACC men’s team since the 1977-78 season when the Trojans topped Rochester Community and Technical College 135-100, Iowa Lakes 128-89 and Kirkwood 126-56.Also Sunday, the Trojans pushed their winning streak to nine games, which is the most since the 2009-10 when they started the season 9-0. The all-time longest win streak in men’s basketball history is 13 in the 1978-79 season.In Sunday’s game, Wendell Matthews led the Trojans with 22 points and 11 rebounds for his fifth double/double of the season. Quentin Hardrict and Deundra Roberson both scored 20 points for the Trojans.NIACC (10-2) also received 14 points from Orrington Hamilton 13 from Kyle Lang, 12 from James Harris and 11 from Trey Sampson. Hardrict dished out seven assists and Lang collected six assists.NIACC (1-0 in ICCAC) returns to action Wednesday at home against Iowa Central. The women’s game starts at 5:30 p.m. with the men’s game starting at 7:30 p.m. AMES, Iowa (AP) — Marial Shayok scored 24 points, and Iowa State routed No. 5 Kansas 77-60 on Saturday for its fifth straight win.Freshman Tyrese Haliburton made four 3-pointers and scored 14 points for the Cyclones (12-2, 2-0), who opened Big 12 play with back-to-back wins for the first time since 2015 after forcing the Jayhawks (12-2, 1-1) into a season-high 24 turnovers.Despite getting outrebounded 41-26, Iowa State made surprisingly easy work of Kansas in an early Big 12 test.The Cyclones opened their first double-digit lead when Tyrese Haliburton made a corner 3-pointer with 9:59 to go. Lagerald Vick answered with a hasty 3-point try that bounced off the bottom of the backboard, and Lindell Wigginton connected from long range to make it 60-47 and force Kansas coach Bill Self to burn his third timeout in 11 minutes.Shayok’s 3 with just under seven minutes left put Iowa State ahead 65-49, and the rout was on.Quentin Grimes scored 19 points for Kansas, and Dedric Lawson had 13 points and 12 rebounds.center_img MINNEAPOLIS (AP) — The Minnesota Timberwolves Sunday fired coach Tom Thibodeau, halfway into his third season with the team that began with the turmoil surrounding the eventual trade of All-Star Jimmy Butler. Thibodeau was dismissed about an hour after Minnesota’s victory over the Los Angeles Lakers. Assistant coach Ryan Saunders, the son of the late Flip Saunders, takes over on an interim basis. Thibodeau went 97-107 with the Wolves. He led them to the playoffs last spring, after a 13-year absence from the postseason. — other boys basketball from SaturdayNewman 87, North Iowa 64Garner-Hayfield-Ventura 58, Algona 56Lake Mills 76, West Fork 50St. Ansgar 58, Belmond-Klemme 30 — other girls scores from SaturdayNewman 68, North Iowa 50Algona 71, Garner-Hayfield-Ventura 63St. Ansgar 60, Belmond-Klemme 27West Fork 60, Lake Mills 46 LAWRENCE, Kan. (AP) — Bridget Carleton scored 33 points on 11-of-17 shooting, moving up two spots in Iowa State’s all-time top 10 scoring last, and the No. 25 Cyclones defeated Kansas 82-73 on Saturday.Kristin Scott had a perfect day shooting going 7 for 7 with three 3-pointers for 17 points for the Cyclones (12-2, 2-0 Big 12). Carleton moved up to seventh on the career list with her 29th 20-point game.Iowa State, which has won six straight, outscored the Jayhawks 22-12 in the second quarter to lead 39-29 at the half. The Cyclones were 5 of 10 from 3-point range and shot 57 percent overall in the first half.They stretched the lead to 17 after three quarters and 21 early in the fourth quarter before Kansas raced back. An 8-0 run, followed by a 10-0, had the Jayhawks within 63-71 when Kylee Kopatich hit a 3-pointer with 3:14 to play. Kopatich had a 3 on the next possession to make it a seven-point deficit but the Jayhawks couldn’t stay hot and Iowa State made 9 of 10 from the foul line in the final 2½ minutes.Christalah Lyons led Kansas (10-2, 0-1) with a career-high 24 points. The Jayhawks were off to their best start since opening 13-1 eight seasons back and had won seven straight at home before losing their seventh-straight to Iowa State. CLEAR LAKE — After losing three straight before the holiday break, the Clear Lake girls have won two straight, including a 66-53 win over Forest City on Saturday afternoon in Clear Lake, as you heard on AM-1490/96.7-FM KRIB. Sara Faber had 21 points while sophomore Chelsey Holck scored 15 off the bench to lead the Lions. Clear Lake is 8-3 overall and will return to action on Friday hosting Hampton-Dumont-CAL in North Central Conference play. IOWA CITY — Iowa pulled away in the second half for its first Big Ten victory on Sunday. Jordan Bohannon scored 22 of his game high 25 points in the second half as Iowa topped 24th ranked Nebraska 93-84.The Hawkeyes outrebounded Nebraska 40-31 and also made 29 of 32 free throws.Bohannon did not score until banking in a desperation three pointer to beat the first half buzzer.Iowa switched to a zone defense in the opening half and that slowed the Huskers down.Iowa coach Fran McCaffery, who says Ryan Kreiner was a huge factor in the game. Kreiner finished with 14 points in making his first start as a Hawkeye.Iowa visits Northwestern on Wednesday.last_img read more

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first_imgCanadian boxer Dave Leblond has set his sights on a possible rematch with Jamaican rival Tsetsi Davis. Leblond defeated professional debutant Nico Yeyo in what many described as a disappointing “hugging match” in their Wray and Nephew Contender Series bout last Wednesday and is now hoping to meet Davis by the luck of the draw in the next round. Leblond had lost controversially to Davis in the second match of the season and, after losing an “egregious judging” appeal, was recalled to the competition in place of countryman Ryan Wagner, who was not medically cleared to face Yeyo. His trainer, Patrice Trudeau, said that he believes the public would be interested in seeing a rematch with Davis. He said their first encounter felt similar to the events of the movie Rocky 4, where Rocky Balboa (played by Sylvester Stallone) was able to win over the support of hostile Russian fans who were cheering for the hometown favourite, Ivan Drago. Trudeau compared Leblond to Balboa. “We see it as a love story with the Jamaican fans,” Trudeau told The Gleaner. “Before the fight, we were live on Facebook telling Canadians that Tsetsi is a crowd favourite in Jamaica and we were comparing Rocky 4 with Tsetsi being Drago.” Trudeau said moments before the fight with Davis, they faced direct hostility from fans but said that had changed during the course of the match. “We had a guy come into the dressing room and tell Dave to his face: ‘You’re gonna get a whipping’, so we saw how much he was a favourite,” he said. “But in the live video, I said ‘You know what? We’re gonna do just like in Rocky 4. Maybe we’ll make people start cheering for the underdog, the guy that’s a new fighter and has the fire in him to prove he’s a good boxer.’ “It was an underdog story. People were cheering for Dave more than Tsetsi at the end of the fight. We’re blessed, we’re really loved.” The Gleaner reached out to Davis to get a response on how he would feel about a possible rematch, but he declined to speak. Leblond said that if he does not get to face Davis in the competition, he would still welcome a chance to have a match later this year, even in Canada. He continued that he hopes not to face another fighter like Yeyo, whom he described as “frustrating”, because of how much time he spent holding him to prevent being hit. “It was impossible to have a plan against Yeyo,” Leblond said through translator Trudeau. “Everything we had set up was impossible to do because that guy just held on. That threw us off and, of course, it was frustrating.” Trudeau said they have to now make a game plan in case they encounter another match like last week’s. “We’re gonna work on something else. This fight was harder than Tsetsi. Tsetsi knows how to fight. This guy (Yeyo) was very difficult and unorthodox because he’s a young boxer.” THE UNDERDOGlast_img read more

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