Would you like to read more?Register for free to finish this article.Sign up now for the following benefits:Four FREE articles of your choice per monthBreaking news, comment and analysis from industry experts as it happensChoose from our portfolio of email newsletters To access this article REGISTER NOWWould you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week.
BOLT ON TECHNOLOGY is pleased to announce that its operations manager, Ken Gilliam, was selected by SmartCEO to receive the 2017 Executive Management Award. The Executive Management Awards (EMA) program recognizes the leadership and accomplishments of Philadelphia’s management all-stars.Gilliam recently celebrated his five-year anniversary with BOLT ON TECHNOLOGY. “Ken’s been a member of the BOLT ON team since the early days when our office space was only 80 square feet and located in the back of a local repair shop,” said BOLT ON TECHNOLOGY Founder and CEO Mike Risich. “Now, we are situated comfortably in 18,000 square feet and continuously growing. Ken’s been an instrumental part of this growth and our innovation over the past five years, and we are so happy to celebrate this honor with him.”“Behind every great CEO is a team of smart, driven executives dedicated to ensuring a company’s growth and success. This year’s EMA winners are perfect examples of all-star executives. Not only do they inspire their own teams to achieve greater heights, they also believe deeply in their companies’ missions, are consummate community stewards, and are dedicated to excellence, always,” said Jaime Nespor-Zawmon, president of SmartCEO. “We’re honored to share their stories and celebrate their great accomplishments.”AdvertisementThe Executive Management Awards program recognizes the leadership and accomplishments of Philadelphia’s management all-stars — the CFOs, CIOs/CTOs, COOs and other C-suite executives leading the region’s top companies. Winners are recognized for their creative management vision, leadership philosophy, innovative strategy and undeniable work ethic. The 2017 EMA winners’ companies collectively generate more than $3.5 billion in annual revenue. This year’s winners will be recognized in SmartCEO magazine and were celebrated at an awards ceremony on March 8 at the Ballroom at the Ben. AdvertisementClick Here to Read MoreAdvertisement
Subscribe Get instant access to must-read content today!To access hundreds of features, subscribe today! At a time when the world is forced to go digital more than ever before just to stay connected, discover the in-depth content our subscribers receive every month by subscribing to gasworld.Don’t just stay connected, stay at the forefront – join gasworld and become a subscriber to access all of our must-read content online from just $270.
Subscribe now for unlimited access Subscribe to Building today and you will benefit from:Unlimited access to all stories including expert analysis and comment from industry leadersOur league tables, cost models and economics dataOur online archive of over 10,000 articlesBuilding magazine digital editionsBuilding magazine print editionsPrinted/digital supplementsSubscribe now for unlimited access.View our subscription options and join our community To continue enjoying Building.co.uk, sign up for free guest accessExisting subscriber? LOGIN Stay at the forefront of thought leadership with news and analysis from award-winning journalists. Enjoy company features, CEO interviews, architectural reviews, technical project know-how and the latest innovations.Limited access to building.co.ukBreaking industry news as it happensBreaking, daily and weekly e-newsletters Get your free guest access SIGN UP TODAY
The company’s turnover of approximately EUR137 million (USD180.3 million) exceeded the figure budgeted for 2010 and is a EUR27 million (USD35.5 million) ahead of the figure for 2009. The performance encourages Balnak to keep targets at high levels for 2011 – which also happens to be its 25th anniversary.Since 1986 Balnak has been providing diverse logistics services including international land, sea, air and rail transportation, warehouse operations with or without customs services, customs clearance, value added packaging services, national transportation and distribution services.In accordance with its expansion plans, Balnak opened its first overseas office in Tripoli, Libya in 2010. Through this office Balnak is providing transportation, port, customs and site delivery services to businesses working in Libya. The company has opened another office in Erbil which represents an important step in developing its position in Iraq.Aiming for a fleet that is more environmentally sensitive, Balnak has exchanged 20 of the existing vehicles in its fleet for, vehicles with EURO 5 engines. Another 40 vehicles were also added to its already extensive fleet.
The 75-ton (68-tonne) capacity crane has a main boom length of 141 ft (43 m), with a 58 ft (17.7 m) long swing away jib.The units were added as part of Imperial Crane’s fleet upgrade programme. The company said it will be unveiling additional equipment in the weeks to come, including new Grove and Liebherr cranes.imperialcrane.comwww.tadano.com
City firms would not be interested in having a third party manage client accounts, their representative body has said.The City of London Law Society this week said it has no objection to the use of third-party accounts as an alternative, but that its members are ‘firmly in favour’ of the status quo.The Solicitors Regulation Authority is consulting on whether to allow law firms to use a separate entity to manage client funds.In its response, the CLLS said using an alternative was unlikely to lower costs, and it warned that any rule change should not act as a precursor to restrictions on the use of client accounts.The response stressed that the current system already offers flexibility to choose a bank or building society and the best interest rates available.‘The accounts that can be used as client accounts are strictly defined and are held in secure institutions,’ said the CLLS.‘Clients are familiar with these institutions and understand that their funds are held securely.’The response noted that whatever the sum that is held, the same processes apply to the transfer of funds.The CLLS also called for a wider consultation before any changes to accounts rules and for safeguards to be drawn up to protect monies that are held with a third party.The SRA has stressed it is only exploring third-party alternatives as an extra option for solicitors and has no intention of removing client accounts.In its consultation paper, the regulator said the misuse of client money was a ‘consistent risk’ to consumers and that third-party managed accounts could provide a safe and low-cost alternative.The Law Society has stated it is willing to listen to proposals that reduce the burden on solicitors, but that the SRA suggestions would not necessarily reduce costs or increase consumer protection.
Medics writing whiplash reports have been warned that failure to upload them to the online portal in good time could result in enforcement action.The MedCo company wrote to medical reporting organisations this week saying the uploading of reports was being ’monitored’ and will form part of this year’s audit.The same message was given to direct medical experts, who are reminded they have a maximum period of six months from the date of selection by the instructing party.Potential action could include removal from the scheme, which accredits experts and randomly allocates them to diagnose whiplash claims submitted by lawyers.The scheme is set to become more important if the government goes ahead with plans to ban insurance companies from making offers to settle before claimants have had medical checks.MedCo made a similar warning to users of the scheme last year about regularly uploading medical case data, but this week’s communication suggests that message is still not getting through.The quality of medico-legal reports was questioned this week by James Dalton, head of general insurance at the Association of British Insurers.Speaking at an evidence session of the justice committee of the House of Commons, Dalton said insurers are minded to make pre-med settlement offers because ‘we do not have any faith in the medico-legal reporting system’.He noted that trust has improved since the establishment of MedCo, but said the sector was still largely unregulated.‘Until recently, there were unregulated medical reporting organisations, which are an industry in and of themselves, producing medical reports in support of whiplash claims,’ said Dalton.‘MedCo is specifically designed to try to put in place better disciplines on both the doctors who write medical reports, so that there is an accreditation framework underpinning them, and the companies they work for. To be perfectly frank, that is not a regulatory framework.’
The saga surrounding the Serious Fraud Office’s (SFO) long-running probe into Eurasian Natural Resources Corporation (ENRC) took another twist this week as the multinational mining group filed a £70m High Court claim accusing the fraudbusting agency of misfeasance in public office.In documents filed at the court ENRC describes the SFO’s conduct as ‘arbitrary, oppressive and/or unconstitutional’. ENRC has been the subject of an SFO investigation into alleged fraud, bribery and corruption. No charges have been brought and ENRC firmly denies all allegations against it.Much of the claim centres around the relationship between the SFO and the international law firm Dechert – which previously advised ENRC – and a partner at the firm, Neil Gerrard. It is alleged that Gerrard passed confidential information to senior officials at the SFO.Dechert and ENRC are engaged in separate litigation on that matter but the latest claim alleges the ‘inducement of Gerrard and/or Dechert to act in breach of contract and/or the fiduciary duties which, as solicitors, they owed to ENRC as their client.’ According to the complaint a ‘fair minded and independent investigator and prosecutor’ should have reported this conduct but instead the SFO encouraged and took advantage of it.The claim also alleges misfeasance in public office involving an alleged failure by the SFO to ‘act in accordance with its powers, to act objectively, independently and in good faith, to preserve evidence, and to respect ENRC’s fundamental right to legal professional privilege’.ENRC said it is seeking damages as well as a declaration that the SFO is not entitled to publish, disclose, divulge or otherwise make use of any confidential and privileged material belonging to ENRC which was disclosed to the SFO by Dechert and/or Gerrard. The SFO declined to comment. An independent review into its handling of the investigation is ongoing.A Dechert spokesperson declined to comment on the latest devleopment but has previously said of the matter: ‘We emphatically reject any suggestion of an improper relationship between Dechert/Neil Gerrard and the SFO or that there was any unauthorised disclosure of information to or from the SFO. The work we did during our investigation was with the authority of, and with the knowledge of, those who were instructing us at the time.’
Sea News, May 8 Prior to the event, said, “The whole industry being here, I would like to see how each company or individual participants are excited about technology such as AI or IoT and how companies are gearing up to accept these.” Post the event, his comments were, “There are a lot of possibilities. We don’t know what the future is but it will be very interesting.” He reiterated the willingness of the industry to embrace technology by stating, “if there are vendors that could provide solutions and offer technologies and ideas that could be implemented in our business and on our vessels, that would be really great. As professionals in the shipping industry, we attend a lot of good events but this one, that highlighted key technology aspects such as AI & IoT, don’t happen very often in the industry. I would definitely like to be a part of such events.” These were the highlights:opened the event by underlining why a collaboration of this sort is imperative in the present scenario. He briefly touched upon how vast amounts of data can be handled to the benefit of stakeholders in the industry.An insightful understanding of Blockchain through real world applications such as the JV between IBM & Maersk was then delivered by .What followed was presenting an impressive session on the ‘Modernisation of Class’. It highlighted the bold steps this leading classification society has made with respect to the digitalisation of the industry. spoke about the strength the organisation has seen through collaborations in the past – paving the path for better connectivity and benefitting not just companies but also seafarers during their time away from home.A key issue, ‘cyber risk management’ was covered in great detail by the . He threw light on the importance of identifying risks and susceptibility in order to mitigate the threat of hacking – something that is a real threat right now.The last session was delivered by on the growing popularity and application of the Internet of Things across all industries. Through graphs and statistical analyses he projected the benefits of embracing this technology to save on costs and productivity.The biggest highlight of the day came through the panel discussion conducted by the distinguished Having been one of the enablers that took his company towards acceptance of e-certificates, he has had a first hand experience of the myriad benefits embracing digitalisation could bring. The diverse panel consisting of allowed for an understanding of each industry’s stance where the switch to digitalisation is concerned. It afforded insights into the readiness of ship owners and managers to climb aboard the digitalisation band wagon and where the uncertainties and hesitations lie. The event highlighted the current and ongoing digital developments in the maritime sector and broadened the perspective of the delegates by introducing them to case studies wherein AI, Blockchain, IoT and Big Data Analytics have been applied and increased productivity. It widened the attendees reach and got them thinking about the possibility of out-of-the-box collaborations for the benefit of all parties concerned. When Saurish Nandi conceptualised the Dataccio Connect event, he did not anticipate the immense need and path-breaking ripples such a platform would create. After the event, commented, “what I realised is we need to have a common platform. You cannot work in isolation and we need to collaborate with various industry partners. This is something I never considered till today, and is my biggest takeaway from this event. As far as IT is concerned, shipping is in a backward state and for us to learn more, we need to come in touch with people that are doing something in this regard.” At the recently held event in Mumbai, the response from the industry was tremendous. While each session involved an expert from a specific domain offering insights into the digitalisation of the maritime industry, a key takeaway was the collaboration and discussion these sessions provided to delegates. Every sector of the maritime community was able to measure their progress along the digital journey by a parameter/yardstick – providing an opportunity for analysis on what they have achieved and what more they need to do. It also showcased how digital processes that were never thought of before could be applied to effectively increase productivity and generate revenue. These industry leaders were able to position themselves adequately on a digital map and therefore, chart a course for the direction their organisations need to take in order to fully embrace the paradigm shift the maritime industry is taking. Expectations & Takeaways by industry experts: The general consensus was that the discussions were an eye opener for the whole maritime ecosystem – from ship owners/operators and managers to seafarers and vendors. The take home was the breaking of barriers and the future possibilities this digital journey will hold. spoke about his expectations from the event, “I would very much like to learn from the speakers and the audience about the temperature that we as an industry have when it comes to digitalisation, and digitisation also – the transition that we have made from analog to digital. I also would like to get a feel for the appetite for change in the maritime industry.” His sentiments post the event were, “One fascinating takeaway for me was that, we as an industry, are willing to cooperate – there were great vibes in the room, great vibes in the panel discussion and we had great engagement from the audience.” He went on to state, “we should be open to interaction with a broader shipping community, and also with companies from outside of shipping to get inspiration. I think the broader the participation, the better it is going to be for us in shipping – the more inspired we will be, because it is clear today that digitalisation holds many secrets.” On the expectations of a Dataccio Connect event, stated, “the spread of knowledge and the awareness is right now lacking in the industry. We need to bring awareness so that those who are on the fence, will go ahead and invest in technology projects.” Post the event, he stated, “Today there was definitely awareness created because this was not a topic that was discussed in many of the conferences held here before. This is in a way a pioneering effort to share the experiences and the information that we have gathered towards this journey of digitalisation to wider audiences, to a diverse industry. We had participants not just from shipping, but from IT, from service providers – all of whom have a stake in this data collection and analysis.” He continued, “This is the first step towards creating that realisation and awareness that we cannot be complacent.” Author: Priyanka Ann Saini