North Cackalacky: Deschutes begins distributing In NC this month

first_imgThe state of North Carolina is about to get a little bit better. We already have one of the most robust craft beer scenes in the country, not to mention Pisgah’s singletrack and the Outer Banks surf breaks, and now Deschutes is getting into the mix. Last year, the Bend-based brewery passed on building their East Coast facility in Asheville, opting to build it in Roanoke instead (kudos to our brothers to the north). The Roanoke brewery should be up and running in the early 2020’s. At that time, Deschutes beer will be readily available across the eastern seaboard. And it’ll be awesome. Luckily, North Carolinians won’t have to wait that long; Deschutes will start distributing their core beers on draft in North Cackalacky this month, and bottles will hit the shelves later in the summer.Deschutes is already one of the 10 largest craft breweries in the country. While you can’t really do wrong with anything Deschutes makes, there are a few beers you should definitely seek out. The brewery is best known for its flagship, Black Butte Porter. If you’re gonna get excited about just one beer that you’ll be able to drink on the reg now, this is it. Black Butte is so good, it will ruin other porters for you. Seriously, after drinking Black Butte, I started to wonder why anyone else even bothers to dabble with the style anymore. As for seasonals, get your hands on Hop Slice Summer Ale, an easy-drinking 5% beer with all kinds of citrusy hop notes along with a bit of caramel for balance. And when winter comes, make plans to drink Jubelale, their spiced winter ale that will add another layer of awesome to any powder day.Everything will get a little better from here on out. The sun will be a little bit brighter, the powder a little softer. Thanks Deschutes.last_img read more

Going for gold

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Pension fund for Douwe Egberts ramps up risk profile with new strategy

first_imgThe return portfolio is to be increased to 50% of total assets, partly by raising the allocation to developed-market equities from 25% to 30%.The DEPF is also thinking to increase exposure to indirect property and emerging market equities from 5% to 7.5%, while ramping up holdings in emerging market debt, from 2.5% to 5%.The scheme will divest its 2.5% commodity allocation entirely.The DEPF expects to maintain its new investment strategy for at least the next three years.As part of the portfolio reshuffle, it adjusted the allocation of the €50m financial reserve aimed at indexation for its 2,225 active participants, which had been fully invested in credit.It replaced one-quarter of the portfolio, which generated 9.7% in 2014, with develop-market equities.The scheme also introduced a dynamic interest-risk hedging policy – in increments of 35%, 50%, 65% and 80% – with the level of cover following interest rates.It will reduce the interest hedge from 50% to 35% this year as a consequence of the new policy.Last year, the Douwe Egberts scheme reported an 18.8% return.It warned that it may be unable to grant indexation on 1 January, as its official policy funding ratio was 110.9% as of the end of September.Under the new financial assessment framework (nFTK), pension funds are prohibited from paying inflation compensation if their policy coverage is less than 110%. The €1.7bn Dutch pension fund of coffee producer Douwe Egberts (DEPF) is planning to increase its return portfolio to increase the potential of generating long-term returns. The adjustment will come at the expense of its 60% matching portfolio, which the scheme will cut to 50% of total assets.The DEPF said it would reduce holdings in long-term government bonds and interest swaps from 31% to 25%, while lowering its credit allocation from 24% to 20%.It will maintain its residential mortgage exposure at 5%, however.last_img read more

Newly-Formed GriegMaas JV Acquires Its Fourth Bulker

first_imgRecently-established dry bulk joint venture GriegMaas has purchased another Chinese-built Ultramax unit, according to shipbrokers.The vessel in question is the 2012-built GH Rough Habit and was purchased from Denmark-based Celsius Shipping for a reported price of USD 16.5 million.GriegMaas also bought GH Rough Habit’s sister vessel GH Frankel from Celsius Shipping in June this year.Established by Norwegian shipping company Grieg Star and Dutch investment management firm Maas Capital in December 2018, the joint venture has so far acquired four ships. The first two units, 58,000 dwt Supramaxes Star Athena and Star Eracle, were sold to GriegMaas in early January 2019.All four units were built by China’s Yangzhou Dayang Shipbuilding in 2012.G2 Ocean, a Gearbulk and Grieg Star joint venture, will be responsible for the commercial management of the vessels, while Grieg Star will provide corporate and ship management services to GriegMaas.Back in January this year, GriegMaas said it planned further expansion of the fleet in 2019 without specifying the number of ships it would aim to buy.“GriegMaas will further strengthen our position within the Supramax and Ultramax segments, and thus further strengthen G2 Ocean’s Bulk activities,” Camilla Grieg, Grieg Star CEO, said at the time.last_img read more