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With major orders in hand Sadhav announces IPO, to open on 23rd February

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MUMBAI, India, Feb. 20, 2024 /PRNewswire/ — Sadhav Shipping Limited (SSL) plans to come out with its Initial Public Offering (IPO) of 40,18,800 equity shares of Rs 10 each for cash at a premium of Rs 85, aggregating to Rs 38.18-crore.

The IPO opens for public subscription on Friday, February 23, 2024, with the issue price fixed at Rs 95. The retail quota comprises 50 per cent of the net issue. The IPO will close on Tuesday, February 27, 2024.

Market Makers have reserved 2,02,800 equity shares, leaving a net issue of 38,16,000 shares to the public. The Issue and Net Issue constitute 28% and 26.59%, respectively, of the post-issue paid-up equity share capital.

Sadhav Shipping is a key player in varied segments of the Maritime domain in India. It is a ship owner, ship manager and operator in verticals of Offshore Logistics, Port Services and Oil Spill Response.

In Offshore Logistics, Sadhav Shipping supports the exploration and production of oil and gas in offshore fields of ONGC Ltd. with specialised marine assets meant for offshore operations.

Its service bouquet to ports includes, pilot boats, high-speed security boats, survey boats and work boats. With an increase in traffic in all major ports of the country, demand for ancillary services which the company provides has also correspondingly increased.

With respect to the third vertical of Oil Spill Response, Sadhav Shipping provides Tier-1 Oil Spill Response facility for ports; it is presently offering its services on long-term retainer contracts to Kandla, Vadinar, Mumbai, JNPT, Mangalore & Paradip Port.

The company intends to utilise the proceeds of the issue to purchase additional vessels to cater to its business requirements. It will also deploy the resources to modify existing vessels and boats.

The company recently bagged a contract from ONGC to operate one fast crew boat and has contracted with a notable owner for purchase of a suitable boat. This boat will be the first of its kind in India with 60 passenger capacity, 25 knots speed, motion compensated gangway, gyro stabiliser and Dynamic Positioning system. This boat will be used to transport men and materials from ONGC’s bases in Mumbai/Navi Mumbai to its offshore locations. Sadhav Shipping along with ONGC aims to improve the cost, time and ride quality of the passengers going to offshore Oil & Gas Platforms of ONGC.

The company constantly participates in the bidding process for port services and offshore logistics services across India and hence it wants to upgrade its vessels and boats to provide quality services and uncompromising safety of operations.

The company’s Chairman and Managing Director Capt. Kamal Kant Choudhury said: “India’s economy is growing robustly, and Sadhav Shipping is well-positioned to capitalize on the bright growth prospects of the Maritime industry.”

For the financial year ended March 31, 2023, the company clocked a Profit After Tax (PAT) of Rs 7.75-crore on a revenue of Rs 77.81-crore. For the financial year ended March 31, 2022, the company had clocked a revenue of Rs 69.55-crore. As of September 2023, the company has earned a PAT of Rs 4.07 crore on a revenue of Rs 33.69 crore for FY 24.

The company presently owns and operates 24 vessels of which 19 are owned and the rest rented.

Sadhav Shipping has a blue-chip clientele which includes big names such as ONGC Ltd., BPCL, DRDO, and major ports such as the Mumbai Port and Paradip Port.

About Sadhav Shipping Limited (SSL):

Incorporated in 1996 as Homa Offshore & Shipping Company Private Limited, the company changed its name to Sadhav Shipping Limited in 2006.

Promoted by Capt. Kamal Kant Choudhury (CMD), Mr. Vedant Choudhury (CEO) and others, Sadhav Shipping has grown steadily over the years, expanding services in various shipping and coastal logistics sectors.

Headquartered in Mumbai, the company possesses a robust order book, a healthy revenue visibility, and more than 50% of inflows in US dollars from blue-chip companies.

With a sailing team of over 200 officers and crew, led by an experienced management team, Sadhav Shipping continues to witness sustainable growth year-on-year. For more information, visit www.sadhav.com/

 For more information, please contact: Mr Job Cornelius: jc@trinityglobalservices.org, 98922 66156

Logo: https://mma.prnewswire.com/media/2343280/SSL_Logo.jpg

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Huawei Launches Over 20 All-New Xinghe Intelligent Network Offerings to Amplify Industrial Intelligence

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SHANGHAI, Sept. 21, 2024 /CNW/ — During HUAWEI CONNECT 2024, Leon Wang, President of Huawei’s Data Communication Product Line, announced more than 20 all-new Xinghe Intelligent Network offerings globally at the summit themed “Xinghe Intelligent Network, Amplify Industrial Intelligence”. These purpose-built offerings contribute to an AI network ecosystem and help customers seize opportunities for intelligent development and maximize intelligent productivity.

With the development of AI technologies, the world is advancing from digital transformation to intelligent transformation. All industries are quickly adopting AI technologies to create new use cases, for example, self-driving cars, intelligent diagnosis and treatment, and intelligent train inspection. All of these are significantly improving the efficiency and experience of our work and daily lives.

The advent of the intelligent era is driving networks into intelligent ones. Huawei has been making joint efforts with partners to lead research and practices of intelligent networks. That’s why Huawei constantly upgrades its Xinghe Intelligent Network offerings to help customers grasp opportunities for intelligent development, build new intelligent network infrastructure, and maximize intelligent productivity in the intelligent era. Key highlights include the following:

Xinghe Intelligent Campus focuses on AI-enabled, experience-centric campus network construction, ensuring zero freezing for audio and video applications, zero degradation on services, and zero waiting for interactions.Xinghe Intelligent WAN introduces a wide range of intelligent technologies to intelligently schedule millions of flows and precisely optimize service experience.Xinghe Intelligent Fabric adopts the AI Turbo engine to improve network throughput, enhancing foundation model training efficiency.Xinghe Intelligent Network Security integrates AI technologies into network security detection, accurately and rapidly identifying threats.

To support network solutions in various scenarios, Huawei released more than 20 featured offerings globally. Examples include the industry’s first 100 Tbps fixed-form Ethernet data center switch, the industry’s first 51.2 Tbps liquid-cooled fixed-form data center switch, the industry’s first AI router, high-quality 10 Gbps campus switches and Wi-Fi 7 APs, Intelligent SASE Branch Security Solution, and the industry’s first IP Autonomous Driving Network Solution. All these offerings are designed to help customers with greater business returns.

As the intelligent era calls for intelligent networks, Huawei will continue to drive the development of intelligent networks and upgrade its Xinghe Intelligent Network products and solutions, ultimately helping global customers to stride towards the intelligent era and reap more benefits.

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SOURCE Huawei

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HUAWEI CONNECT 2024 | Huawei Unveils the Brand-New Xinghe Intelligent Fabric Solution, Powering the AI Era

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SHANGHAI, Sept. 21, 2024 /PRNewswire/ — At HUAWEI CONNECT 2024, over 300 industry leaders, experts, and scholars gathered for the data center network session themed “Xinghe Intelligent Fabric, Powering the AI Era.” The event featured discussions on the evolution and technological advancements of data center networks. During the session, Arthur Wang, President of Data Center Network Domain at Huawei’s Data Communication Product Line, introduced the newly upgraded Xinghe Intelligent Fabric solution. This cutting-edge solution aims to establish a data center network characterized by one map for intelligent operations and maintenance (O&M), one network for diverse computing, and one platform for simplified deployment, providing a robust network infrastructure to support enterprises’ digital and intelligent transformations.

In his keynote speech, Arthur Wang outlined the emerging trends in data center network development. He emphasized that in the AI era, data center networks require both a “brilliant brain” and “resilient bones.” The newly launched Xinghe Intelligent Fabric solution is designed to deliver a powerful network infrastructure tailored for the AI era, featuring:

One Map for Intelligent O&M: Zero Management Concerns

Huawei’s exclusive network digital map enables rapid cross-data center and cross-vendor fault identification within minutes. Additionally, the NetMaster network large model facilitates AI-driven O&M, eliminating manual intervention and ensuring zero management concerns.

One Network for Diverse Computing: Zero Service Interruptions

The Xinghe Intelligent Fabric supports various application scenarios, including intelligent computing, general-purpose computing, and storage. The innovative Network Scale Load Balancing (NSLB) algorithm increases network throughput to 95% and boosts AI training efficiency by over 10%. With the exclusive iReliable three-level fast switchover capability, it achieves sub-millisecond switchover, guaranteeing zero service interruptions.

One Platform for Simplified Deployment: Zero Configuration Errors

By employing digital twins to simulate networks in advance and verify configurations post-deployment, the solution ensures 100% accuracy in network changes. By harnessing network-security convergence capabilities, AI creates an intelligent security matrix to analyze millions of security policies, achieving zero configuration errors.

Looking ahead, Huawei will continue to collaborate with industry partners to enhance research and innovation in data center networks, promote intelligent upgrades, and create greater value for the industry.

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SOURCE Huawei

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Cultivating a Culture of Peace: International Day of Peace Statement by Education Cannot Wait Executive Director Yasmine Sherif

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NEW YORK, Sept. 21, 2024 /CNW/ — The longing for peace transcends time, geography and religion. Based on justice, human rights and universal values outlined in the UN Charter, a culture of peace brings us all together in our common agenda for humanity. We can only co-exist by aligning ourselves with such a world order.

On today’s International Day of Peace, we call on world leaders to end conflict and embrace a culture of peace as enshrined in the UN Charter and related international law.

As the UN General Assembly outlined in the Declaration and Programme of Action on a Culture of Peace  a quarter of a century ago, this must include: “Respect for life, human rights and fundamental freedoms; the promotion of non-violence through education, dialogue and cooperation; commitment to peaceful settlement of conflicts; and adherence to freedom, justice, democracy, tolerance, solidarity, cooperation, pluralism, cultural diversity, dialogue and understanding at all levels of society and among nations.”

Educating for peace starts at home and continues in school through years of education. This takes place during the most formative years of a child learning about their identity, ethics, values, conscience, courage and compassion. Wherever there has been a failure in imparting on children the imperative for peace, the world is turned upside down. This is a global failure with no geographical boundaries.

Today, we live in a world of unprecedented violence, armed conflict and chaos. All the genuine and heartfelt commitments made in 1945 in the UN Charter seem to be fading away. Children and adolescents are the most vulnerable, the least protected, and the most impacted. They bear the brunt. 

Global conflicts killed three times as many children in 2023 than in the previous year, according to the United Nations. The number of forcibly displaced people reached an unprecedented 120 million in May 2024.

“In 2023, the United Nations verified a record 32,990 grave violations against 22,557 children in 26 conflict zones, a 35% increase from the previous year,” according to recent analysis by the UN.

We can end these violations and invest in a constructive co-existence globally. We can use our resources for education, rather than for wars. In classrooms around the world, girls and boys who have withstood the wrath of war can rebuild their hopes and their lives. Cultivating a culture of peace is possible. The financial resources exist. The choice as to how we use them is ours.

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SOURCE Education Cannot Wait

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