Viridis on track to place orders for first ammonia-fueled bulkers Ammonia-fueled shipping startup Viridis Bulk Carriers AS - a joint venture between two Norwegian shipowners, Navigare Logistics and Mosvolds Rederi, and zero emission ship project specialists Amon Maritime - is a step
BV to class double-ended ferry duo Bureau Veritas is to class two 64.8 meter long, 1,000-passenger capacity, double-ended ferries ordered by Hong Kong's Sun Ferries. Designed by Netherlands-based CoCo Yachts and built by YaGuang Technology Co. Ltd in
Maersk Supply Service to get a new parent In a "keep it in the family" deal, publicly-listed A.P. Moller - Maersk (Maersk) has reached an agreement that will see privately-held A.P. Moller Holding, the parent company of the A.P. Moller
Port of Los Angeles sees 43% drop in February container volumes Plunging February container volumes at the Port of Los Angeles underscore the point that container shipping giants such as Maersk made in making their forecasts for 2023: booms don't go on forever.
Valencia reaches 600,000 vehicles in last year, leading Spanish ports in vehicle traffic Port Authority of Valencia (PAV) saw 600,000 vehicles in 2022, translating to an important 22% growth compared with the figures in the previous year. That means that Valenciaport handled one out of every five new unregistered vehicles in the Spanish port system, being at the head of this type of traffic among the ports of interest in Spain, ahead of Barcelona, Vigo and Santander. Barcelona operat
PMA-ILWU negotiations derail NWSA container volumes Northwest Seaport Alliance (NWSA), a marine cargo operating partnership of the ports of Seattle and Tacoma, reported lower total container volumes in February, compared with the same month last year. In particular, NWSA noted a 24.3% decline in February box volumes, reaching 225,747 TEUs with full imports decreasing by 34% as imports continue to struggle due to ongoing soft demand and uncertainty
The Benefits of Having a Regular MERV Filter Replacement Schedule for Your Home Are you someone who regularly changes your home's air filters? If not, you might want to consider doing so! There are actually quite a few benefits to having a regular MERV filter replacement schedule for your home. For one, it can help improve the quality of your indoor air. But that's not all - changing your filters on a regular basis can also help lengthen the lifespan of your HVAC system and
Piraeus Port Authority reports record revenue and profits in 2022 Piraeus Port Authority (PPA) has achieved a consecutive year of growth with a turnover of approximately US$208 million compared to around US$165 million in 2021, while its profits before taxes amounted to approximately US$80 million compared to around US$52 million in the fiscal year 2021. Additionally, PPA's profits after taxes exceeded US$55 million, indicating an increase of 43.9% compared to
Hutchison Ports to spend US$700 million to develop container terminals in Egypt Hutchison Ports will invest around US$700 million in Egypt's major port, Ain Sokhna Port, and in a new container terminal in the Port of Alexandria, B100. After the completion of the two recent projects, the total investment of the global port operator in Egypt will exceed US$1.5 billion. The investment includes the development of a new container terminal in Ain Sokhna Port with a capacity of 1.7
Torgmoll operates new direct container service from China to Russia Torgmoll, a Chinese transport and logistics company, will operate a new regular direct box service from China to the First Container Terminal (FCT) based in Russia's Big Port of St. Petersburg. Five specialised container vessels with an average capacity of 2,500 TEUs will be deployed on the service, which will be made twice a month. The port rotation of the service is Qingdao (China) - Shanghai (
Peel Ports acquires HES Humber Bulk Terminal United Kingdom's port operator Peel Ports Group has completed the acquisition of HES Humber Bulk Terminal for an undisclosed amount of money. Peel Ports has acquired the business from specialist bulk terminals operator, HES International, headquartered in Rotterdam, to expand its presence to the UK's East Coast. The acquisition also means that Peel Ports will now operate across eight key location
Hapag-Lloyd increases freight rates from Asia to Latin America Hapag-Lloyd announced a new General Rate Increase (GRI) from Asia to the West Coast of Latin America, Mexico, Caribbean and Central America. The German carrier said that for cargo transported in 20' and 40' dry containers, including high cube equipment and 40' non-operative reefers, the following rate increase will take effect from 1 April and will be valid until further notice. 20' Dry Container
Chittagong port to receive larger vessels The Chittagong Port Authority (CPA) officially invited larger ships to take a berth in its jetties, to enhance productivity, leading to low import costs of cargo benefiting the consumers. By issuing a circular on 19 March, the CPA said, from now on, ships of 200-meter long and 10-meter draft will be able to take berth at the jetties. "...vessels having LOA (length overall) up to maximum 200-meter l
A. P. Moller - Maersk to divest Maersk Supply Service A.P. Moller - Maersk has agreed to divest Maersk Supply Service (MSS), a supplier of worldwide offshore maritime services and project solutions for the energy industry, to A.P. Moller Holding, the parent company of the A.P. Moller Group. Maersk launched a new combined transportation strategy in 2016, as well as a split of the current energy-related operations. Maersk Tankers, Maersk Oil & Gas, an
DP World launches new air cargo logistics hub in Dominican Republic DP World and Grupo Puntacana joined forces to develop a new air cargo logistics hub in Punta Cana, Dominican Republic. The new facility is being created through an agreement between DP World and the Punta Cana Free Trade Zone (PCFTZ), a company of Grupo Puntacana. The new facility will include a new logistics centre and infrastructure platforms capable of supporting multimodal air, land and sea c
UK Major Ports Group appoints new CEO The UK Major Ports Group (UKMPG), the trade association for the UK's major port operators, has appointed former UK government special adviser Geraint Evans as the new chief executive officer. Evans will join the UKMPG in May 2023, from the global consulting firm, Stonehaven where he was a Partner. Prior to Stonehaven, Evans served as a special adviser under three UK's prime ministers, David Camer
Maersk upgrades Oceania service Maersk has announced that its Polaris service will be upgraded to a weekly service, effective from April. The Danish ocean carrier said the Polaris service connects New Zealand with Australia and the service upgrade will provide an improved Trans-Tasman connection and increased product flexibility by enabling New Zealand cargo routings over Australia, as well as Lyttelton on our extensive Oceania
How to Win at E-Commerce Delivery: 9 Fascinating Insights into Consumer Preferences and Expectations E-commerce delivery is a hot topic in marketing, and it's not hard to see why. Customers will leave you behind if you must deliver your products on time. But what's even more important than just getting orders delivered is ensuring they arrive safely and in perfect condition! In this post, we'll look at nine fascinating insights into consumer preferences and expectations regarding e-commerce deli
How Do You Factor Freight? Cash flow is everything when you are in the trucking business. After all, you must keep your truck on the road, so your business keeps moving, which takes money. According to Simplex Group , cash flow issues are relatively common in this industry as freight shippers might take 30, 60, or 90 days to be paid after delivering a load. When you're running a business, this can be rather inconvenient in
Maersk's new air freight service to connect Denmark with China A.P. Moller - Maersk announced the inaugural flight of its new air freight service with scheduled flights between Billund, Denmark (BLL) and Hangzhou, China (HGH). The scheduled Eurasia operation is scheduled to commence today (20 March) with three weekly flights introducing the first of three newly converted Boeing 767-300 freighters that have recently been purchased for Maersk Air Cargo. All Eu
Los Angeles sees container downturn in first months of 2023 The Port of Los Angeles handled 487,846 TEUs in February, translating to a 43% drop from the all-time high in the same month last year. The Californian port's loaded imports totalled 249,407 TEUs, a 41% decrease from the previous year, and loaded exports reached 82,404 TEUs, a 14% decline from the last year. Meanwhile, empty containers totalled 156,035 TEUs, which represents a 54% year-on-year fa
Castor Maritime nets $4.4m on sale of elderly panamax bulker Cyprus-based Castor Maritime has sold its 2007-built panamax bulk carrier to an unrelated third party for $12.6m. The Nasdaq-listed bulker and boxship owner said it plans to deliver the 73,600 dwt vessel during the second quarter of 2023 and record a net gain of $4.4m. Castor owns a fleet of 22 vessels, the majority of ...
Samsung Heavy and Kongsberg Maritime move to develop autonomous LNG ships South Korean shipbuilder Samsung Heavy Industries (SHI) and Norwegian marine technology firm Kongsberg Maritime have penned an agreement to jointly develop a design for an autonomous 174,000 cu m LNG carrier. The two parties will leverage the latest remote autonomous and low-emission technology, with SHI acting as a system integrator with overall design responsibility, while ...
Pankaj Khanna's Heidmar to go public in merger with blank check company Home Plate Heidmar has decided to go public via a merger with a blank check company. The Athens-based tanker pool specialist said it plans to merge with Home Plate Acquisition Corporation, a US-based special purpose acquisition company led by Dan Ciporin and Jonathan Rosenzweig, and have the combined business listed on Nasdaq. The pro forma equity value ...
Maersk sells Maersk Supply Service to A.P. Moller Holding for $685m Danish shipping giant Maersk has reached an agreement to divest its offshore energy contractor Maersk Supply Service to A.P. Moller Holding, the parent company of its owner A.P. Moller Group. The transaction has an enterprise value of $685m and includes a wind installation vessel under construction in Singapore by SembCorp Marine. Founded in 1967, Maersk ...
Jiangsu Steamship focused on building cape arm This week brokers have reported a string of cape sales with Jiangsu Steamship one of the most active buyers of vintage capes in China, adding its fourth big bulker. The Chinese outfit has for the second time in two months laid down the winning bid for a vintage cape up for sale. Sources tell Splash ...
AMPTC returns to South Korean yard for VLGC duo Arab Maritime Petroleum Transport Company (AMPTC) has returned to its shipbuilder of choice, Hyundai Heavy Industries (HHI), with an order for a pair of very large gas carriers. Korea Shipbuilding & Offshore Engineering (KSOE), the shipbuilding holding company of Hyundai Heavy, revealed the order in a regulatory filing on Monday. The ships will be delivered ...
Cameroon's role in the fast-growing dark fleet exposed S&P Global Market Intelligence has become the latest firm to put a figure on the scale of the so-called dark fleet, the growing list of ships operating in contravention of sanctions in place against countries such as Iran, Venezuela and Russia. The New York-based company, one of the largest shipping data providers in the world, ...
UK oil and gas operators face a 'tsunami' of industrial unrest as 1,400 offshore workers ready to down tools Dozens of UK North Sea oil and gas platforms could be brought to a standstill as hundreds of offshore workers prepare to take strike action. Unite the union announced that major oil and gas operators in the UK Continental Shelf face a 'tsunami' of industrial unrest within weeks as around 1,400 offshore workers across five ...
GoodBulk offloads cape pair as dry bulk S&P overtakes tanker sector GoodBulk is taking advantage of the revived dry bulk S&P scene with this week's broking reports reporting more bulker sales than tanker sales for the first time in 11 weeks. Eight capes have been reported sold over the weekend with John Michael Radziwill's GoodBulk listed selling two ships. Monaco-based GoodBulk is widely reported cashing in ...
Philippine oil spill spreads to one of the nation's richest marine biodiversity areas The oil spilled by the sunken Princess Empress product tanker has reached the shores of Isla Verde along the marine biodiversity-rich Verde Island Passage (VIP), the Philippine Coast Guard said today. The marine corridor is home to 1,700 fish species, 300 coral species and 36 marine protected areas. The ship sank on February 28 in ...
Newbuild prices picking up Newbuild prices are on the way back up. Prices for new ships plateaued briefly for a couple of months towards the end of last year, but have been pushing back up since December. According to data from Clarksons Research, newbuild prices have increased by 2% in the year to date following rises of 5% in ...
Centrica teams with France's Lhyfe for UK offshore green hydrogen pilot UK energy supplier Centrica has joined forces with French renewable hydrogen producer Lhyfe to develop offshore renewable green hydrogen in the UK. Under a memorandum of understanding, Lhyfe and Centrica will explore combining their expertise to collaborate on a pilot green hydrogen production site in the Southern North Sea. The pilot will aim to ensure ...
Akastor sells engineering consultancy and software unit AGR to ABL Group Norwegian oil-services investment company Akastor has sold its engineering consultancy and software firm AGR to energy and marine consultancy ABL Group in a cash-and-stock deal. The deal will see Akastor become a shareholder in ABL. The transaction values AGR at NOK262.5m on a cash and debt-free basis. The equity purchase price of NOK 352.9m will ...
Argeo awarded Scottish floating wind site survey contract Norway's Argeo has won a contract from Stromar, a consortium made up of Ørsted, Renantis and BlueFloat Energy, to carry out geophysical survey in the project's development area, located in the Moray Firth off the coast of Scotland. The Stromar offshore floating wind farm covers an area of 256 sq km and the project aims ...
UBS assumes leading Greek ship finance position with Credit Suisse takeover UBS has taken on a very significant shipping portfolio following yesterday's emergency takeover of compatriot bank Credit Suisse. UBS came to the rescue of troubled Credit Suisse yesterday in a $3.15bn government-backed deal to avert financial disaster. UBS has not had a strong shipping focus previously, something that has changed overnight with the Credit Suisse ...
Black Sea Grain Initiative renewed The United Nations said on Saturday that the Black Sea Grain Initiative has been renewed, allowing for grain exports from three Ukrainian ports. The length of the extension remains unclear. "The Black Sea Grain Initiative, signed in Istanbul on 22 July 2022, has been extended," the UN said. Ukrainian officials suggested that the shipping deal ...
AD Ports signs multiple agreements in Egypt Abu Dhabi's AD Ports Group has signed a concession agreement to develop and operate a multi-purpose port in Safaga in Egypt, in addition to signing of two 15-year agreements, a memorandum of understanding (MoU) and three head of terms (HoT) concerning ports located in Egypt's Red Sea region and the Mediterranean Sea. These agreements allow ...
Energy market disruption sees coal cargoes fire up capesize demand Europe's ban on Russian coal is seeing cargo travel much longer distances, nearly doubling shipping demand and boosting vessel sizes, writes Plamen Natzkoff from Maritime Strategies International. Capesize freight rates are set for a period of upside volatility as the fallout from the war in Ukraine continues to spread across the energy markets. In its ...
NTSB completes investigation of 2022 collision in Mississippi In March 2022, the mobile offshore drilling unit VALARIS DS-16 broke away from the dock at the ST Engineering Halter Marine and Offshore Shipyard in Pascagoula, Mississippi, then drifted across the Bayou Casotte channel, and collided with the bulk cargo vessel Akti moored at the Chevron Refinery dock no.6. There were no injuries or pollution ...
Eni makes new oil discovery in Gulf of Mexico Italian energy company Eni has discovered oil in the Yatzil exploration prospect in Block 7, located in the mid-deep water of the Cuenca Salina in the Sureste Basin in the Gulf of Mexico offshore Mexico. According to preliminary estimates, the new finding may contain around 200m barrels of oil (MBoe) in place. Yatzil-1 EXP is ...
Sustainable biofuels and hydrogen can help shipping cut emissions, says IPCC UN climate body suggested clear goals, coordination across multiple policy domains and inclusive governance processes facilitated effective climate action
The week in charts: Russia's bulk exports to Europe drop 60% | Boxship recycling dominated by feeder ships | US-sanctioned ships don't lose flag for long Over 100 falsely flagged ships are trading in plain sight, prices of over $600 per light displacement tonne are now...
Flags refute claims as ITF vows crackdown on 'substandard shipping' Vessels flying Togo, Sierra Leone, Palau and Cook Islands flags will undergo increased inspections in the Mediterranean during the coming...
Safe Bulkers doubles down on share buybacks Move comes after sale of kamsarmax as part of fleet renewal strategy
UK lawmakers call for greater clarity on maritime strategy UK politicians call for investment in new technology, cleaner fuels and workforce training
Heidmar eyes Nasdaq listing after merger deal Pankaj Khanna-helmed operator is looking to expand in dry bulk, technical management, and sales and purchase brokering
China doesn't matter for dry bulk, says Clarksons Demand growth for grain and coal seaborne trade 'more than enough' to support industry, shipbroker tells New York's Capital Link...
One person still missing after fatal crane collapse in Israel A crane collapsed and damaged a section of the jetty after high winds and hailstorm hit the Ashkelon coal terminal
Maersk sells offshore service unit to parent company Maersk Supply Service to continue trading as a subsidiary of AP Moller Holding
The week in newbuildings: Suezmax tankers in vogue Crude oil tankers are making a comeback with two shipowners each having signed up for suezmax units
Ukraine grain deal extended for second time There is agreement that the grain deal will continue in the short term, but Ukrainian and Russian government officials are...
Gard pushes down combined ratio to 81% Norway-based IG affiliate reports best technical performance in well over a decade
MOL start-up fund opens Singapore desk to accelerate tech investment The fund opened its first overseas desk in London last year
Shell to explore LNG shipping for regasification in deal with GAIL Indian state-owned integrated oil and gas company has been looking to expand its LNG and ethane portfolio
Thailand mounts operation to contain oil spill from storage tanker To date, no impacts to the environment or sea life have been reported from this incident, according to vessel owner...
Samsung Heavy teams with Kongsberg Maritime to develop automatous LNG carriers Builder expects the next-generation ship will reduce operational risk and cost for its customers' fleets
CDB Leasing ship assets grow despite regulatory headwinds Ship leasing remains a major profit contributor with the highest return on assets ratio among other segments of the Chinese...
Daily Briefing US-sanctioned ships don't lose flag for long | Compliance with the law is not optional. Even for P&O Ferries |...
FedEx Freight cuts costs but improves profit as US LTL volumes shrink With 'every dollar under scrutiny,' FedEx Freight is squeezing its trucking division, gaining financial improvements that better position the carrier for the next economic rebound.
ILWU job action causing terminal gate delays in Los Angeles-Long Beach: PMA Longshore workers represented by ILWU Local 13 are refusing to stagger their meal breaks at the ports of Los Angeles and Long Beach, resulting in periods when no work is being done on the docks, says the Pacific Maritime Association.
Air cargo market weakens as capacity floods into service on major trades In addition to long-haul passenger aircraft with significant belly freight capacity coming back into service to capture growing travel business, several airlines are adding freighters to the major trade lanes.
Heavy-deck demand faltering, but long-term outlook remains strong Despite a temporary lull, heavy-deck carriers and industry analysts see a "mind-boggling" outlook for global offshore wind demand.
Not all recent import share loss on West Coast is permanent: analyst As the US West Coast's share of import TEU has fallen in recent years, analyst Larry Gross notes there is an important difference between declines due to sourcing location changes and declines due to loss of share by region.
Tanker owners see older ships trading in absence of charter-backed newbuildings With a low orderbook, charterers may have to get used to using older ships to move oil and oil products
Feet to the flame: how five analysts break down their favourite 2023 stock bet Most stockpickers agree on one sector, but some favour a gassy twist
Seanergy's chief executive bullish on capesize bulkers for 'a number of reasons' The United Arab Emirates' $1.5trn investment in infrastructure to 2030 is 'underplayed and underexplained' in shipping, Stamatis Tsantanis says
LNG carrier supply side depends on where cargoes are going and where production starts up There are plenty of LNG carriers set to hit the water in the coming years, but can the market absorb them all?
US regulators not thinking about what happens if Russia ends Ukraine invasion Sanctions official says US would be open to rolling back sanctions, but not considering it right now
Bank woes not likely to menace ship lending, but roiling capital markets 'Shipping is a relatively small part of most banks' portfolios,' says Citi's Michael Parker
Greece 'to support' Turkey's candidate for IMO leadership in blow to Cyprus 'Earthquake diplomacy' and UN voting deal sees traditional rivals aligning over maritime regulator
'Misleading and false': furious flag states hit back at ITF over crackdown Togo, Palau and Sierra Leone mount passionate defence of their records after being branded among 'worst' registers operating in the Mediterranean
Banking turmoil will not affect tanker fortunes, says NAT's Herbjorn Hansson Nordic American Tankers CEO says tanker orderbook was much larger during the last banking crisis
Piraeus office helps Britannia P&I get close to Greek shipowners The conservative UK insurer has made great gains in Athens since it reached out with a local outpost
Castor sells first bulker for a profit after huge acquisition spree Serial buyer has turned seller with the disposal of panamax
Navigator reveals $200m loan as it remains stuck with Russian charters US-listed LPG carrier owner refinances 2023 maturities but cannot extricate itself from deals with producer Sibur
Norwegian Cruise Line's Frank Del Rio retiring after eight years as chief exec Harry Sommer, president of Norwegian Cruise Line, will become Norwegian Cruise Line Holdings' chief executive
Heidmar plots Nasdaq listing and $55m raise to expand into technical management and S&P Athens tanker and bulker pool player combining with listed Spac outfit Home Plate to expand its business
MSC launches fresh raid on German secondhand market as vessel prices tumble Classic post-panamax boxships remain in demand but asking prices are down by $80m
AMPTC splashes $207m on VLGC newbuildings at Hyundai yard The newbuildings are believed to be replacement vessels for the Middle East company
European shipowners 'breach oil cap' in Russia's Far East Global Witness says half of oil cargoes hauled from Pacific Ocean ports had European involvement
'It has been quite a stressful two years', says Takeshi Hashimoto after taking MOL hot seat CEO reflects on two years in hot seat at Japan's largest shipowner and how he formulated his company shake-up plans
Gard achieves best underwriting performance in 15 years But bottom line is hit by poor investment returns in 'short' accounting year
Seismic power shift: MOL goes global with biggest shake-up in its history President and chief executive Takeshi Hashimoto tells TradeWinds he is nervous as shake-up could deliver fantastic rewards or complete disorder
Cochin Shipyard wins order for up to four zero-emission hydrogen feeder ships Indian yard to construct pioneering vessels for Dutch operator Samskip
North Africa casts 'lifeline' to Russia for refined oil exports Russia has diverted oil product exports from Europe to North Africa and the Middle East under sanctions regime
George Economou's Cardiff Marine orders more product tankers from China's New Times Shipbuilding The company is due to take delivery of the aframax product tankers in early 2026
Maersk spins off Maersk Supply Service for $685m as it completes strategic shift Parent AP Moller Holding is taking the $1bn offshore support fleet private
US fund Alterna Capital linked to lucrative Torm MR tanker deal Owner of 13 product carriers identified by brokers as offloading 2013-built trio
Dynagas LNG Partners has no plans to 'go private' Shipowner said US and EU sanctions against Russia not affecting its business, operations or financial condition
International Group to work with London marine insurers on major claims Two insurance groups have agreed to communicate when there is a common interest
Russian exports to Asia could ease Australia's struggle for MR tankers, Gibsons says UK shipbroker believes a greater number of mainstream cargoes could head down under if the Putin regime succeeds in shipping more oil to Asia
Greek shipowners dominate Russian port calls in 2023 S&P Global analysis identifies a 443-strong shadow fleet and nearly 2,000 at risk of sanctions breaches
'Tsunami' of UK strikes to bring BP, Shell and Total operations to 'standstill' Unite union says workers demanding better pay and conditions as oil majors rake in record profits
Viridis closes in on order for ammonia-fuelled bulk carriers as BV approves design Zero-carbon fleet could be operational by 2025, says start-up backed by Mosvolds Rederi, Amon Maritime and Navigare Logistics
Vitol brings in BlackRock's Eduard Ruijs to drive energy transition The trading and shipowning group wants the experienced energy executive to identify new decarbonisation technologies
Taiwan's Wisdom Marine breaks ordering hiatus to ink handysize bulker newbuild deal The Taiwanese bulker owner splashed out $66m for two handysize bulk carriers
Angelicoussis VLCC sets new Humber River record once held by Onassis Group Ex-Ocean Tankers crude carrier the largest vessel to visit northeast England port in nearly 20 years
Winning Shipping capesize bulker heads for recycling in Bangladesh Winning, World Tankers and Vasi Shipping sell ships to Chattogram as India and Pakistan sit on the sidelines
Angelicoussis VLCC sets new record for River Humber once held by Onassis Group Ex-Ocean Tankers crude carrier the largest vessel to visit northeast England port in nearly 20 years
Carnival waves goodbye to Aidavita as its sails across to Beta Marine The identity of who is behind the new Marshall Islands-registered cruise company remains a mystery
PSA restructures into core businesses of ports and mid-mile logistics Group says it has been transforming its business to better serve global supply chain stakeholders
Big shipping portfolio shifts as UBS gobbles up Credit Suisse Shotgun marriage between Swiss lenders brings major Greek shipping portfolio under new, bigger roof
Cathay Pacific Cargo unleashed Cathay Pacific has been tied down by COVID health restrictions much longer than most airlines. The cargo network is getting a big boost as long-haul passenger aircraft rejoin the fleet.
Maersk Air Cargo unveils Denmark-to-China freighter service Shipping line Maersk has unveiled the latest expansion of its cargo airline with a new Eurasia route.
Crunch time for trans-Pacific container shipping contract talks Flexport projects trans-Pacific contract rates will decline around 70% from 2022 levels but still be around 30% above current spot rates.
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