zoomIllustration. Image Courtesy: Pixabay under CC0 Creative Commons license Miami-based cruise major Carnival Corporation has reached an agreement on an EUR 786 million (USD 920.7 million) financing with Germany’s KfW IPEX-Bank to fund the construction of a new cruise ship.To be built by Meyer Werft in Papenburg, the new cruise ship will feature a low-emission dual-fuel engine using liquefied natural gas (LNG) and marine diesel, and will normally run on LNG. The cruise ship, which is scheduled for delivery in May 2022, will be able to accommodate around 5,200 guests.KfW IPEX-Bank informed that it is handling the entire structuring of the financing and taking on the roles of book runner, initial mandated lead arranger (MLA), facility agent and export credit agency (ECA) agent. The plan is to syndicate up to 80 percent of the financing amount.“With this financing we are once again demonstrating our competence in arranging tailored financing for our customers in the cruise segment,” Andreas Ufer, Member of the Management Board of KfW IPEX-Bank, saud.“We are enabling our long-standing customer Carnival Corporation & plc, which placed the order with Meyer Werft Papenburg, one of the world’s leading cruise ship builders, to build a new flagship.”The financing has a term of 12 years from the date of delivery. It is backed by export credit insurance issued by the Federal Republic of Germany (Hermes cover) and encompasses the Commercial Interest Reference Rate (CIRR) for ships, which is determined by the Organisation for Economic Co-operation and Development (OECD).
New Delhi: The National Capital region was hit by an earthquake on Tuesday afternoon. The tremors were felt in different areas of the national capital region including New Delhi and Noida.The 6.3 magnitude earthquake struck north-west of Lahore on Tuesday afternoon. The tremors, which lasted a few seconds, were felt at around 4:35 pm in Delhi. The quake forced people living in Noida, Greater Noida, Gurugram and Ghaziabad to come out from their residential and commercial high-rises. However, no causality or major loss was reported in Delhi and the National Capital Region (NCR). Delhi and its adjoining areas fall in the very sensitive Seismic Zone 4. Also Read – Odd-Even: CM seeks transport dept’s views on exemption to women, two wheelers, CNG vehiclesAccording to experts, tremors are caused due to Eurasian and Indian tectonic plates. The geological activity born out of this collision, also responsible for the birth of the Himalayan mountain range, is the cause of unstable seismicity in the region. But the concern remains for the skyscrapers in unplanned urbanisation which can lead to higher levels of destruction during powerful earthquakes. Increased seismic activity at frequent intervals has been posing a threat to the region. Also Read – More good air days in Delhi due to Centre’s steps: JavadekarGeologically, Delhi and its suburbs including Ghaziabad and Noida together form a part of the Indo-Gangetic alluvium, which is filled with silt, sand, and loam. Disaster management experts said that upward areas along Yamuna and Hindon rivers are more vulnerable in case of an earthquake. Experts said that there are more than 50 lakh buildings in Delhi-NCR. Most of them do not have proper safety norms. Buildings close to the rivers are more vulnerable to earthquakes. Close to National Capital is Gurugram, which has many highrises prone to quakes. Tremor strikes city As soon as the earthquake hit the city, the people started informing other known persons through phone calls. People also used social media to share their experience during the tremor. “Just experienced #earthquake in Delhi CP. I sit in 9 floor and for some seconds I thought I experienced dizziness until the second colleague said she experienced it too. #delhiearthquake,” reads one of the tweets related to the earthquake. Another Twitterati tweeted that “Earthquake guys! Quite long. #DelhiEarthquake”. “Experienced an earthquake after 15 years. Failed to understand if I was dizzy or was the building actually moving #earthquake#earthquakeindelhi#delhiearthquake,” another tweet reads.