Biggest livestock ship sold
Wellard Limited has completed the sale of its big vessel Ocean Shearer for almost $90 million, also completing the live export shipper's recapitalisation program and strengthening its capital position.
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Conveniently the devalued Australian dollar increased the sale payment by $12m, up from from $77.8m at the time the deal was eventually signed in December with Kuwait Livestock Transport and Trading Company.
While the extra cash did not change the company's debt repayments in US dollars, it significantly lifted the value of cash retained from the sale.
Wellard has used $69.1m from sale of the world's largest purpose-built livestock vessel to cut its debt to $28.7m.
The company will now focus on maximising earnings from its remaining carriers Ocean Drover and Ocean Ute, and the long-term chartered Ocean Swagman.
Wellard executive chairman John Klepec said selling Ocean Shearer extracted value from an under-utilised vessel in the fleet and trimmed debt to a manageable level, including redeeming 3.9m unlisted notes issued in 2017.
Vet, chemical fund help
Further federal funding of $2 million has been made to improve farmer access to priority agricultural and veterinary chemicals.
The grants help with the costs of data generation to support product registration applications to the Australian Pesticides and Veterinary Medicines Authority.
"These grants will address industry-identified priority uses in a range of plant and animal commodities such as finfish, chickens, macadamia, rhubarb and spinach crops," said Agriculture Minister, David Littleproud.
The grants program forms part of the government's six-year $14.3m project to improve agricultural access to safe and effective chemicals.
"A focus will be to improve primary producer access so they can manage uncommon or emerging pests and diseases," Mr Littleproud said.
"Industries dealing with these new threats can find it difficult to access agvet chemical products as it may not be as profitable for chemical companies to register those uses in Australia."
The APVMA must approve the specific uses of every product, based on a comprehensive data package provided by applicants.
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New AGBU deputy
Canadian Dr Stephen Miller has been appointed as deputy director of the Animal Genetics and Breeding Unit (AGBU).
Dr Miller joins the Armidale-based research and development agency after four years as director of genetic research at Angus Genetics Incorporated, a division of US Angus and the largest breed organisation in America.
AGBU board chair Lucinda Corrigan said Dr Miller's appointment would add significant value to the strategic direction and global collaborations for AGBU, established 41 years ago as a partnership between the University of New England and the NSW Department of Primary Industries,.
It is responsible for Australia's world-leading Breedplan, Lambplan, Merinoselect, Pigblup and Treeplan systems, and research in new areas including fish and honeybees.
Dr Miller grew up an Ontario beef farm, gaining his bachelor degree and doctorate at the University of Guelph.
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Wine on the move
McLaren Vale winemaker Hastwell & Lightfoot has stepped out of its comfort zone to initiate a personal 'hyper-local' delivery service.
With many small to medium sized wine businesses forced to close cellar doors and restaurants because of the coronavirus emergency, necessity has become the mother of invention for the boutique South Australian outfit.
The wine producer has partnered with other beverage makers to launch online service "McLaren Vale Alcohol Delivery".
"I've been stocking up my car and driving around Adelaide delivering wine," said general manager, Kishan Sidhu.
"We needed to keep the business alive and we've had a fantastic response and support from customers."
The hyper-local' business model includes McLaren Vale brewer, Swell Brewing Company and winery, Zonte's Footstep.
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Crackdown on cyber crooks
Cyber experts from the Australian Signals Directorate are cracking down on offshore cyber criminals targeting Australian homes and businesses via devious scams during the coronavirus emergency.
Telecommunications firms have also been engaged to block and take down malicious websites.
Defence Minister Linda Reynolds said the ASD had mobilised its offensive cyber capabilities to disrupt foreign criminals responsible for a spate of recent malicious activities.
"Some of these cyber criminals have even posed as health officials in an attempt to exploit vulnerable Australians, infecting their computers with malware and stealing their private information."
The Australian Signals Directorate had disrupted activities from some offenders disabling their infrastructure and blocking their access to stolen information.
The Australian Cyber Security Centre was also working with web-browser companies Google and Microsoft to have the websites flagged as malicious.
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ADM's chips in to UN
US grain commodities and processing giant Archer Daniels Midland says it has committed about $1.6 million to various organisations involved in the fight against COVID-19.
Key contributions include commitments to the COVID-19 Solidarity Response Fund for the United Nations' World Health Organisation, and regional charities focusing on coronavirus in the areas where ADM operates.
It matches ADM employee contributions to COVID-19 relief and mitigation.
"This is a moment to step up for humanity and I thank ADM for its generous contribution to the COVID-19 Solidarity Response Fund," said president of the UN Foundation Elizabeth Cousens.
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