Error message

  • Deprecated function: TYPO3\PharStreamWrapper\Manager::initialize(): Implicitly marking parameter $resolver as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 19 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/file.phar.inc).
  • Deprecated function: TYPO3\PharStreamWrapper\Manager::initialize(): Implicitly marking parameter $collection as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 19 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/file.phar.inc).
  • Deprecated function: TYPO3\PharStreamWrapper\Manager::__construct(): Implicitly marking parameter $resolver as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 19 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/file.phar.inc).
  • Deprecated function: TYPO3\PharStreamWrapper\Manager::__construct(): Implicitly marking parameter $collection as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 19 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/file.phar.inc).
  • Deprecated function: UpdateQuery::expression(): Implicitly marking parameter $arguments as nullable is deprecated, the explicit nullable type must be used instead in require_once() (line 1884 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/database/database.inc).
  • Deprecated function: MergeQuery::expression(): Implicitly marking parameter $arguments as nullable is deprecated, the explicit nullable type must be used instead in require_once() (line 1884 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/database/database.inc).
  • Deprecated function: feeds_set_subscription_job(): Implicitly marking parameter $job as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 1442 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/bootstrap.inc).
  • Deprecated function: rules_log(): Implicitly marking parameter $element as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 1442 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/bootstrap.inc).
  • Deprecated function: rules_get_event_handler(): Implicitly marking parameter $settings as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 1442 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/bootstrap.inc).
  • Deprecated function: session_set_save_handler(): Providing individual callbacks instead of an object implementing SessionHandlerInterface is deprecated in drupal_session_initialize() (line 245 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/session.inc).
  • Deprecated function: DrupalEntityControllerInterface::resetCache(): Implicitly marking parameter $ids as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 3562 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/bootstrap.inc).
  • Deprecated function: DrupalDefaultEntityController::resetCache(): Implicitly marking parameter $ids as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 3562 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/bootstrap.inc).
  • Deprecated function: SelectQueryInterface::getArguments(): Implicitly marking parameter $queryPlaceholder as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 3562 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/bootstrap.inc).
  • Deprecated function: SelectQueryInterface::preExecute(): Implicitly marking parameter $query as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 3562 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/bootstrap.inc).
  • Deprecated function: SelectQueryExtender::getArguments(): Implicitly marking parameter $queryPlaceholder as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 3562 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/bootstrap.inc).
  • Deprecated function: SelectQueryExtender::preExecute(): Implicitly marking parameter $query as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 3562 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/bootstrap.inc).
  • Deprecated function: SelectQuery::getArguments(): Implicitly marking parameter $queryPlaceholder as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 3562 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/bootstrap.inc).
  • Deprecated function: SelectQuery::preExecute(): Implicitly marking parameter $query as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 3562 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/bootstrap.inc).
  • Deprecated function: geocoder_widget_get_field_value(): Implicitly marking parameter $source_field_values as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 8 of /homepages/36/d901120085/htdocs/americanmariners.org/sites/all/modules/geocoder/geocoder.module).
  • Deprecated function: menu_tree_prune_tree(): Implicitly marking parameter $parent_item as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 1442 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/bootstrap.inc).
  • Deprecated function: search_api_server_tasks_check(): Implicitly marking parameter $server as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 1442 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/bootstrap.inc).
  • Deprecated function: search_api_execute_pending_tasks(): Implicitly marking parameter $server as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 1442 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/bootstrap.inc).
  • Deprecated function: search_api_execute_pending_tasks_batch(): Implicitly marking parameter $server as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 1442 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/bootstrap.inc).
  • Deprecated function: search_api_server_tasks_count(): Implicitly marking parameter $server as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 1442 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/bootstrap.inc).
  • Deprecated function: search_api_access_execute_tasks_batch(): Implicitly marking parameter $server as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 1442 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/bootstrap.inc).
  • Deprecated function: search_api_server_tasks_delete(): Implicitly marking parameter $ids as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 1442 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/bootstrap.inc).
  • Deprecated function: search_api_server_tasks_delete(): Implicitly marking parameter $server as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 1442 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/bootstrap.inc).
  • Deprecated function: search_api_index_specific_items_delayed(): Implicitly marking parameter $index as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 1442 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/bootstrap.inc).
  • Deprecated function: search_api_current_search(): Implicitly marking parameter $query as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 1442 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/bootstrap.inc).
  • Deprecated function: DrupalDefaultMetaTag::__construct(): Implicitly marking parameter $data as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 3562 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/bootstrap.inc).
  • Deprecated function: DrupalRobotsMetaTag::__construct(): Implicitly marking parameter $data as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 3562 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/bootstrap.inc).
  • Deprecated function: DrupalListMetaTag::__construct(): Implicitly marking parameter $data as nullable is deprecated, the explicit nullable type must be used instead in include_once() (line 3562 of /homepages/36/d901120085/htdocs/americanmariners.org/includes/bootstrap.inc).

South Korea to give $1 billion to ailing shipping firms during COVID-19

April 23, 2020

The South Korean government announced it would provide financial assistance of ₩1.25 trillion (around $1 billion) to local shipping companies negatively affected by the coronavirus pandemic.

containership
Photo: Illustration. Pixabay

The measure was prepared by Minister Moon Seong-hyeok, the country’s Ministry of Oceans and Fisheries (MOF), as the worldwide spread of COVID-19 has caused substantial damage to the shipping industry.

According to the Minister, South Korean shipping companies are expected to suffer greater damage after the second quarter of this year, taking into account the time lapse between the global economic deterioration and reduced sales.

Under the plan, Korea Maritime Promotion Corporation (KMPC), a government-backed organization that supports the country’s shipping sector, will provide ₩100 billion in subordinate-debt investments. As explained, the government plans to expand the collateral loan to value (LTV) ratio to up to 95 per cent in order to provide additional liquidity to ships with existing financing. The current LTV ratio is set between 60 and 80 per cent.

What is more, the Korea Development Bank (KDB) and Korea Ocean Business Corp. (KOBC) will provide ₩470 billion for the repayment of maturing debts of HMM (formerly Hyundai Merchant Marine), the country’s largest shipping company. 

The coronavirus pandemic has added a major blow to the shipping industry which was already struggling to stay afloat. Hundreds of sailings have been cancelled globally and numerous vessels remain idled due to the outbreak.

The post South Korea to give $1 billion to ailing shipping firms during COVID-19 appeared first on Offshore Energy.