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This Tweed Heads home was an ideal place for the Roberts family to moor their boats

first_img24 Ducat St, Tweed Heads.They renovated the five-bedroom home at 24 Ducat St with a family in mind. “Karen and I have renovated 13 properties but when it came to this one we really liked the structure of the house, it was a beautiful design.”More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North7 hours ago02:37International architect Desmond Brooks selling luxury beach villa1 day ago 24 Ducat St, Tweed Heads.Mr Roberts said the home had been in desperate need of a freshen-up.“The home was yellow (when they bought it) and the interiors were a bit daggy, the kitchen was from the nineties so we needed to do some tidying up,” he said.The modern makeover included new carpets, and kitchen and a new roof. 24 Ducat St, Tweed Heads.“We also added in a pool fence for the boys and a solar system and air conditioner,” Mr Roberts said. The family are now moving to another waterfront home in the same estate. 24 Ducat St, Tweed Heads.THE Roberts family bought two boats since they moved into their waterfront home seven years ago. Owners, Greg and Karen Roberts said they had lived on a dry block in the same estate previously.“When we saw this house pop up we thought it was a great opportunity to live on waterfront in a neighbourhood we know and love,” Mr Roberts said.“Our family has converted into waterfront living, I don’t think we could go back to a lifestyle on a dry block.” 24 Ducat St, Tweed Heads.The home has an open-plan design and an entertainment deck which has water views.“Coming home from work and sitting out the back with a drink is very relaxing and it always feels like home,” he said. It is within walking distance of Kirra Beach, schools and cafes.last_img read more


Bulk annuity market set for expansion as Aviva returns, LV= looks to enter

first_imgSources close to the market confirmed to IPE Aviva’s intention to begin pricing single buy-in and buyout deals of up to £200m of liabilities.Any single deal of this size would outstrip the insurer’s total business for 2013.According to consultancy LCP, Aviva wrote £143m in bulk annuity business in 2013 and £187m in the year before.In the 2010-11 financial year, before its retreat from the market, the insurer wrote nearly £2bn in business.A statement from Aviva said the company was still working through the changes announced in the Budget.“Our business is generally targeting the smaller end of the market [up to £50m], but we will write larger business where there is a clear business case to do so,” it added.Two sources also detailed conversations with LV= regarding its entry into the bulk market, and the medically underwritten space.One source said: “LV= is looking at the market and spoken to people about offering bulk annuity deals.”A statement from LV= said: “We review our business regularly. We’re still looking at the fall-out from the Budget, and making sure we can still offer individual propositions that we think the market requires.”The move by the insurers is only the beginning of a trend according to several market commentators, in stark contrast to recent years, which saw Aviva scale back its writing, consolidation of Lucida into Legal & General, and a retreat from US insurer, MetLife.As economic conditions led to better pricing, business levels in the bulk annuity space reached record levels in 2013, with the current year expected reach £20bn, according to LCP.Improved scheme funding levels on the back of equities and rising yields have also led UK pension funds and sponsors to look at bulk annuity options for de-risking. General insurer, Aviva is expected to quadruple its limit on bulk annuity deals to £200m (€244m) as LV= is set to enter the market for the first time.Both moves come after the UK government scrapped the forced annuitisation of defined contribution (DC) pots, leading to fears of a drop-off in the individual market.Aviva in 2012 announced it would reduce its writing capacity in the bulk annuity market to £50m, having enjoyed 20% of the market (c.£2bn) in the previous two years.However, as last month’s Budget heralded a potential decline in individual annuity sales – by as much as three-quarters according to insurer Legal & General – Aviva and LV= have begun shifts into the potential £20bn a year bulk space.last_img read more


GulfNav Posts Net Loss but Revenue Jumps

first_imgDubai-based shipping company Gulf Navigation Holding (GulfNav) ended the first quarter of this year with a net loss.The company suffered a net loss of AED 11 million (around USD 3 million) in Q1 2019, compared to profits of AED 5 million during the same period last year.During Q1 2019, GulfNav achieved operating revenue of AED 45 million, compared to AED 37.7 million seen in Q1 2018. This represents a year-over-year (YoY) increase of 19%.As explained, the net result was negatively impacted by off-hire days for a vessel and additional expenses attributed to a 10-year special survey.Specifically, the company’s petrochemical tanker Gulf Deffi entered the dry dock for the mandatory special survey work, resulting in 50 days of off-hire for this vessel during Q1.GulfNav also incurred increased depreciation and finance costs on account of the acquisition of livestock carriers in Q4 2018, which affected the net profit.“The board of Gulf Navigation is reviewing all strategic growth options to return the company to profitability. Our immediate focus is to complete the necessary vessel dry-docks and achieve debt refinancing to align Gulf Navigation’s capital structure to its operations,” Saeed Mubarak Al Hajeri, Chairman of GulfNav board, commented.“We expect the product tanker charter market to become attractive ahead of the IMO 2020 implementation. We are repositioning our balance of spot and long term charter contracts to optimize the operating revenues,” he added.GulfNav has a fleet of chemical tankers, livestock transport vessels, operation support vessels, marine services, and ship repair operations.Related: Goldilocks Takes 18.3 Pct Share in Gulf Navigationlast_img read more