15 August 2008Back in 2000, when everybody started taking South Africa’s World Cup bidding process seriously, a high-level delegation of Fifa officials toured the country on a fact-finding mission.They left with images of thousands of wide-eyed children calling in unison for the right to host the showpiece of the beautiful game, and Vicky Sampson’s “My African Dream” ringing in their ears. South Africa lost its bid to host the 2006 edition of the world’s most popular sporting event (by the narrowest margin in Fifa’s history), but the seed had been planted and the country had emerged as a heavyweight on the international stage.The 2010 Fifa World Cup will give South Africa a global platform to showcase everything that is unique about the country. Expect South African music to be up near the top of the list.Love them or hate them, vuvezalas will play an integral part in this country’s 2010 celebrations. Fifa has acknowleged this and granted permission for them to be used at next year’s Confederations Cup and the 2010 World Cup “under certain conditions”.Cape Town-based music educator Pedro Espi-Sanchis is running vuvuzela workshops at football clubs around the country, and hopes to perform at the opening ceremony as well as the final of the 2010 World Cup.A nationwide hunt is also under way for operatic “mega-voices” to give birth to the country’s very own 20 Tenors. South Africa’s answer to The Three Tenors are expected to perform concerts in all nine host cities prior to kick-off. There are plans to produce a CD, and choreographer Ian von Memerty is working on a repertoire which includes an “iconic anthem”.In addition, hundreds of choirs, groups, bands and singers (including Le Zulu Blanc Johnny Clegg) are likely to create a chorus that will resonate around the world long after the world’s biggest party has left these shores.Urquhart is a former Fifa World Cup media officer and the current editor of Project 2010
State oil and gas company PetroSA and the Coega Development Corporation (CDC) this week signed a cooperation agreement for the planned crude oil refinery at Coega outside Port Elizabeth. 8 October 2009 Official developer and promoter The proposed refinery would be a major tenant in the Coega industrial development zone (IDZ) near the new deepwater Port of Ngqura and a catalyst for future development in the Eastern Cape province. Welcoming the agreement, CDC chief executive Pepi Silinga said the planned refinery would be a major economic boost not only for the South African economy post-2010, but also for the Eastern Cape. PetroSA CEO Sipho Mkhize said the agreement between the two parties clarified their roles and responsibilities in the Coega IDZ during the construction and operation of the 400 000 barrel-per-day refinery. Additionally, the two agreed on roles and obligations with regards to future and downstream activities, while also considering other opportunities in secondary industries, such as the establishment of the Coega IDZ as a petrochemicals hub for the southern African region. The agreement provides for the CDC to recognise PetroSA as the official developer and promoter of the proposed refinery, the establishment of a joint project team, as well as a land allocation agreement for Coega. “The Coega refinery is a project which will provide economic stimulus, revitalise and redirect the automotive sector, and re-skill and up-skill the key artisan employment sector,” he said. “The refinery will generate close to 27 500 temporary jobs during the construction phase and 18 500 permanent direct, indirect and induced jobs once operational,” PetroSA said. “Most current infrastructural developments in the country are in support of the World Cup tournament, but the country needs to look beyond that to other major projects for sustained growth and economic development,” Silinga said. A technical feasibility study for the project has also been completed, and PetroSA’s board will decide by the end of the year whether to proceed to the next phase of the project, while the final investment decision is expected in 2011. ‘Major economic boost’ He said that the agreement would give potential investors confidence that the project was being developed by major stakeholders in the country’s economy, adding that the project was ready to move to the front-end engineering design phase. Source: BuaNews
Share Facebook Twitter Google + LinkedIn Pinterest The South American harvest is expected to be a record with few shipping problems.Expect the market to be range-bound until March 31, when U.S. planted acre estimates are published. Market actionWith few South American harvest concerns, I moved some of my bean hedges, which were originally placed anticipating a South American production issue similar to last year. On Oct. 5, 2016 I moved my beans hedge position:70% moved to Aug 2017 futures — 22-cent premium30% moved to Nov 2017 futures — 5-cent premium.My rationale at the time for using Nov 2017 futures was that last October I thought we would likely have a South or North American weather scare at some point before next August. Therefore, I thought the only downside risk to the Nov/Aug spread position meant I could miss out on 25 cents of market carry. Plus, the July/Nov spread would likely go from a 20-cent inverse to a 12-cent carry — meaning another 32-cent loss. That is quite a bit of risk, so I only exposed 30% of my production.If there was a weather scare, the upside potential of this trade was as much as $2 per bushel. Last year the premium on this trade was $1.80, and the last couple of years premiums ranged $2 to $3. I didn’t necessarily expect profits that high this year, but the potential outweighed the added risk for me.The spread between Aug and Nov 2017 widened through mid-Jan to a point I could have received 60-cent premium rolling my Nov futures back. But, I held out for levels similar to the last few years (i.e. $2-3). Then with all the positive South American harvest news through February, the market narrowed.Last week I rolled the 30% from Nov 2017 back to Aug for a 15-cent premium. With this combined with the initial 5-cent premium, I’m only 2 cents behind the 70% placed in August initially. In retrospect I should have made the trade in January, but I didn’t know at the time this would be the high through mid-March. Now, I don’t want to lose any more opportunity waiting, hoping for a problem in South America, which is looking less and less likely. 2017 bean spread tradeSeeing Aug futures trading at a 15-cent premium over Nov, I also moved 25% of my 2017 crop hedged in Nov 2017 back to Aug. Note, this trade adds some risk. If the South American harvest does encounter unexpected problems like last year, I could lose money. For instance, I would have lost 22 cents on this trade last year. Why make it then?The world bean supply is very high. Add the record 2016 U.S. crop and the probable record Brazil and good Argentina harvest, the market will likely have to pay someone to store beans. This trade basically allows me to use my fields as an “artificial bin” until harvest. I’m looking to add another 15 cents to this trade in later months, which would potentially mean a total of another 30 cents on 25% of 2017 production. Are you a speculator or a farmer?Many advisors shy away from this trade because of the potential risks. I’ll admit that the above trade leans speculative, but I clearly understand the risks and am willing to accept all potential outcomes. Basically, I’m prepared to take a 25-cent loss for the potential of a 30-cent gain. Also keep in mind, this is on only 25% of my production, so I won’t lose or make a lot of money either way. Essentially my goal is to just make a little extra with the information I have today, because I think odds are in my favor. Also if the market caused me to lose value on this trade there is a very likely chance that future bean prices will be higher and that would be good for me long term. A speculator doesn’t have the additional bushels to fall back on if their trades go bad. A farmer is in a unique situation because of this ability to spread risk between marketing years. The difference between a speculator and a farmerUsually experts offering grain marketing advice in the trades are “speculator-type” traders. In my opinion, this can be a big disservice to farmers, because speculators and farmers think and should trade very differently.Speculators try to predict market direction and optimize buying or selling strategies to be profitable either way. They are not forced to buy or sell at any time.Farmers are less flexible and must sell their grain, ideally at profitable levels. Farmers always have more grain to sell, so buying more corn (buying calls or futures) isn’t necessary, and is usually not profitable for farmers like it is for speculators.Speculators benefit from market movement. They may hope the market goes up, but they have to protect themselves if they are wrong. They don’t have breakeven points to worry about, they just need to make sure they aren’t losing money on all of their trades at the end of the day. Farmers on the other hand always have more grain to sell and they must sell grain at profitable levels after expenses.Be careful when listening to marketing experts in the trade because most of the time their advice is based upon how to be a profitable speculator, not a profitable farmer. There is a big difference.Jon grew up raising corn and soybeans on a farm near Beatrice, NE. Upon graduation from The University of Nebraska in Lincoln, he became a grain merchandiser and has been trading corn, soybeans and other grains for the last 18 years, building relationships with end-users in the process. After successfully marketing his father’s grain and getting his MBA, 10 years ago he started helping farmer clients market their grain based upon his principals of farmer education, reducing risk, understanding storage potential and using basis strategy to maximize individual farm operation profits. A big believer in farmer education of futures trading, Jon writes a weekly commentary to farmers interested in learning more and growing their farm operations.Trading of futures, options, swaps and other derivatives is risky and is not suitable for all persons. All of these investment products are leveraged, and you can lose more than your initial deposit. Each investment product is offered only to and from jurisdictions where solicitation and sale are lawful, and in accordance with applicable laws and regulations in such jurisdiction. The information provided here should not be relied upon as a substitute for independent research before making your investment decisions. Superior Feed Ingredients, LLC is merely providing this information for your general information and the information does not take into account any particular individual’s investment objectives, financial situation, or needs. All investors should obtain advice based on their unique situation before making any investment decision. The contents of this communication and any attachments are for informational purposes only and under no circumstances should they be construed as an offer to buy or sell, or a solicitation to buy or sell any future, option, swap or other derivative. The sources for the information and any opinions in this communication are believed to be reliable, but Superior Feed Ingredients, LLC does not warrant or guarantee the accuracy of such information or opinions. Superior Feed Ingredients, LLC and its principals and employees may take positions different from any positions described in this communication. Past results are not necessarily indicative of future results. He can be contacted at [email protected]
Many people seem to think HVAC design means you get a load calculation (Manual J in the ACCA protocols) so you know what size system to put in. Hey, that’s a great start. It’s way better than just using a rule of thumb or Manual E (for eyeball).But there’s so much more to real HVAC design than simply finding out how much heating and cooling a building needs when it’s at design conditions. And we might as well start with the fact that my first statement is incorrect: The load calculation does not tell you what size system you need.Load versus capacityIn an article I wrote last year, I went into detail about the difference between getting the load calculation results and sizing your heating and cooling system. You have to factor in the type of equipment you’re using, the efficiency of the equipment, the breakdown of the cooling loads into sensible and latent, and the difference between your design conditions and the conditions at which the equipment was rated. (Sensible load is related to changing the temperature; latent load is the part involved with removing moisture.) RELATED ARTICLESManual J Load Calculations vs. Rules of ThumbManual J Doesn’t Tell You Equipment CapacityThe Difficulties of Third-Party HVAC Design HVAC Design Requirements in the International Building CodesSaving Energy With Manual J and Manual DWho Can Perform My Load Calculations?How to Perform a Heat-Loss Calculation — Part 1How to Perform a Heat-Loss Calculation — Part 2Calculating Cooling LoadsWhen Do I Need to Perform a Load Calculation?We Are the 99% — AND the 1% But it really boils down to a difference between load and capacity. Heating and cooling loads are the amount of heating and cooling in BTU per hour (or Watts) that a building needs. Capacity is how much heating or cooling a piece of equipment can provide. Just remember that loads have to do with the building and capacity has to do with heating and cooling equipment.Of course, there are three types of loads, but for design purposes, we use the design loads, which are based on design conditions. (The other two types are part load and extreme load.)So, the load calculation is the first step. It leads to sizing but doesn’t give it to you right away. (So be careful reading those Manual J reports!) The second step is equipment selection (Manual S in the ACCA protocols), where you take into account those factors I mentioned above. It’s an important step and more involved than just reading the load off the Manual J report.But even that isn’t the most important part of full HVAC design.The dominance of distributionCalculating the heating and cooling loads is the easy part. Even selecting equipment is straightforward. Once you know the loads and have made decisions about the type of equipment, getting the right capacities isn’t hard. But unless you’re using ductless minisplit heat pumps (a great choice, by the way), the next step is in many ways the most difficult. That is, designing the distribution system to make sure the house gets the right amount of heating and cooling delivered to the rooms. (We focus on air distribution at Energy Vanguard, so if you’re doing hydronic heating and cooling, you should talk to someone like Robert Bean at Healthy Heating.)Designing a good distribution means looking at a lot of variables:Placement of supply and return ventsLocation of air handlerFraming obstructionsTypes of fittingsType of design: trunk-and-branch or radialLocation of ducts (conditioned or unconditioned space)Proper air flow, both total through the system and the amount to each roomThere’s a lot that goes into it!When you do it properly, you get a true system. Many homes just get a bunch of components that appear to be a system but really aren’t. Sadly, the bar is really low for heating and cooling systems. Since so few systems get true design, not many people know what they’re missing. If the house stays relatively warm in winter and cool in summer, it gets over the low bar.But here’s what a good HVAC system provides:ComfortQuiet operationDurabilityEfficiencyAs I write this, I’m sitting in our office in Decatur, Georgia. We have our own system for the office, which is great. We don’t have to fight over the thermostat with other businesses in the building, as we did in our previous office. But the system is oversized. It’s loud. And it short cycles. We get blasted with hot or cold air for a few minutes. Then it goes off until the office starts getting a bit uncomfortable in the other direction, when it kicks on again.The good news for us is that we’ve gotten permission from the building owners to replace the system we have with a Mitsubishi system consisting of a ducted minisplit for the two back rooms and wall-mounted ductless units for the front. We’re also getting an Ultra-Aire ventilating dehumidifier for the office. Stay tuned for an article about the installation once we get it all done.The real reasonSo, back to the original question of the real reason for HVAC design, you can see now that it’s a lot more than just proper sizing. That’s important, but more important is making sure the HVAC is a true system, not just a bunch of components pretending to be a system. Allison Bailes of Decatur, Georgia, is a speaker, writer, building science consultant, and the author of the Energy Vanguard Blog. You can follow him on Twitter at @EnergyVanguard.
Essential Reading! Get my 2nd book: The Lost Art of Closing “In The Lost Art of Closing, Anthony proves that the final commitment can actually be one of the easiest parts of the sales process—if you’ve set it up properly with other commitments that have to happen long before the close. The key is to lead customers through a series of necessary steps designed to prevent a purchase stall.” Buy Now The way we work doesn’t allow us to do good work. You know, the work we are capable of doing, work of a higher quality, work that makes a difference for us and our clients, work that is purposeful, proactive, and meaningful. It’s not that we don’t want to do good work. It’s just the way we actually work.Right now, anyone from anywhere in your company is allowed to interrupt you. They can walk right through your proverbial “open door.” They can call you to ask you a question, even if it isn’t urgent, and even if you are working on something of greater value that needs to be accomplished now. These interruptions take you away from your work, and because you want to be helpful (a good team player), you take the call, struggling to pick up where you left off.When you open your inbox, other people’s priorities are stacked up in numbers that would overwhelm anyone. Inside those emails are requests for information, the information you need to be aware of, things that you don’t really need to know at all, and a few communications from clients and prospects sprinkled in for good measure. Each email requires that you decide what it means and what you need to do with or about it.Add social media and texts to these distractions, and you have what amounts to far too much communication. So much in fact, that most of it is ignored, lost, or simply forgotten about.Because we are “too busy” and because “meetings” have gone out of style, the teams that need actual face time to communicate and coordinate their efforts don’t spend enough time in the same place, with no distractions, solving problems and producing the results they need to produce. With a coordinated plan for communicating with purpose and without distractions, many of the communications that show up in lesser forms and at inopportune times would be unnecessary—or at least greatly diminished.The first thing you can do is start to reduce your contribution to the problem, uncoordinated communications that show up as interruptions. Once you’ve done that, you schedule regular, short, well-designed meetings that allow for real communication and coordination, and start to wind down some of the cacophonies of chaos that is too much communication of too little value.