The Indian Navy released a notification regarding the invitation of interested, eligible candidates for grant of permanent commission in Executive Branch Naval Armament Inspectorate Cadre and Short Service Commission (SSC) in Executive Branch (General Service/Hydro) and Technical Branch (General Service) in the Indian Navy for January 2020 course conducted at Indian Naval Academy (INA) Ezhimala, Kerala.Today i.e. February 1 is the last date to apply for the recruitment drive. Interested candidates can apply for the recruitment drive latest by 11:59 pm.Check the vacancy details of Indian Navy Recruitment 2019 here: Total posts: 102Indian Navy Recruitment 2019: Name of the postNaval Armament Inspection Cadre (NAIC): 12General Service (GS): 27Hydrography Cadre: 3Engineering Branch: 28Electrical Branch: 32Required educational qualification: All the candidates who have passed engineering degree or are in the final year of engineering course in any of the undermentioned disciplines from an AICTE recognised educational institute with 60 per cent marks till 5th/7th semester in regular/integrated course respectively.Call up for SSB: Candidates will be issued Call Up for Service Selection Board (SSB) interview based on their academic performance till 5th/7th semester for all eligible regular/integrated course respectively.Minimum percentage on Joining INA: The candidates will be required to pass the final examination (BE/BTech) with minimum 60 per cent before joining INA. The candidates failing to meet the minimum cut off percentage will not be permitted to join INA Ezhimala.For more details on all the posts, candidates can check the official notification here.Age limit:All the candidates born between 2 January 1995 and 01 July 2000 (both dates inclusive) are eligible to apply.advertisementHow to apply for Indian Navy Recruitment 2019: All the candidates need to apply online on the official website, joinindiannavy.gov.inNote: Candidates can also call on Toll-Free number 1800-419-2929 and press Option 7 to speak to a customer care representative from Monday-Sunday between 0800-2000 hrs.Indian Navy Recruitment 2019: Salary structureLieutenant Commander (Lt Cdr) Level 11: Between Rs 69,400 to Rs 1, 36,900Commander (Cdr): Level 12A: Between Rs 1, 21,200 to Rs 2, 12,400Sub Lieutenant (SLT): Level 10: Between Rs 56,100 to Rs 1, 10,700Lieutenant (LT): Level 10B: Between Rs 61,300 to Rs 1, 20,900.Privileges:In addition to CTC, Navy provides entitled medical facilities, Leave Travel Concession (LTC), Rail concession and Canteen Facilities for self and dependents, Mess/Club/Sports facilities, Furnished Govt. Accommodation as well as Car/Housing Loan at subsidised rates.Group insurance and gratuity:A basic insurance cover of Rs 1 crore (on contribution) and gratuity will be granted to an officer as per the extant rules in force.Selection procedure:The IHQ of MoD reserves the right to shortlist applications and to fix cut off percentage without assigning any reasonNo communication will be entertained on this account. SSB interviews for shortlisted candidates will be scheduled at Bangalore/Bhopal/Coimbatore/Visakhapatnam/ Kolkata during Apr 19-Jul19. Shortlisted candidates will be informed about their selection for SSB interview on their e-mail or through SMS (provided by candidates in their application form)The SSB interview will be conducted in two Stages. Stage I test consisting of Intelligence Test, Picture Perception and Discussion test will be conducted on the first day of arrival at SSB. Candidates who fail to qualify in Stage I will be routed back on the same dayStage II tests comprising of Psychological testing, Group testing and Interview will last for 04 days. Successful candidates will thereafter undergo Medical Examination (approx duration 03-05 days). (c) Candidates recommended by the SSB and declared medically fit will be appointed for training as per all India merit of SSB marks depending on the number of vacancies.Read: Union Bank Recruitment 2019: Check vacancy details hereAlso read: PNB Recruitment 2019: 325 vacancies for various posts, check last date to apply here
zoomImage Courtesy: Star Bulk Greece-based shipping firm Star Bulk Carriers (SBLK) has agreed to acquire up to seven dry bulk carriers from Germany’s Erck Rickmers (E.R.) Capital Holding.The company has inked an en bloc definitive agreement with entities affiliated with E.R. to acquire three firm operating dry bulk vessels within 2018, and four optional operating dry bulk vessels in 2019.The bulkers in question are ER Bourgogne, ER Brandenburg, ER Brighton, ER America, ER Bayonne, ER Borneo and ER Buenos Aires, all of them constructed in 2010.“I am very pleased that Star Bulk is acquiring a high quality, modern fleet from E.R. in a structured transaction that combines attractive prices with flexibility for the company. We are excited to expand our footprint in the Capesize segment, especially in a period that the dry bulk market is tightening,” Petros Pappas, Chief Executive Officer of Star Bulk, commented.Subject to agreeing a three party novation agreement with charterers and E.R., any charterparties existing at the time of the deliveries of each of the vessels shall be novated to Star Bulk, the company said.As informed, the first three vessels will be acquired for an aggregate of approximately 1.34 million common shares of Star Bulk and USD 41.7 million in cash. The cash portion of the consideration for these vessels will be financed through proceeds of a new five-year term loan of USD 41 million from a major European commercial bank. Following the consummation of the first acquisition, E.R. will own approximately 1.45% of SBLK common shares.In relation to the remaining four ships, the sellers have granted four call options to Star Bulk Carriers for an aggregate exercise price of USD 115.39 million or USD 28.85 million per vessel, to be exercised on April 1, 2019.Concurrently, the company has granted four put options to E.R. with an aggregate exercise price of USD 105.39 million or USD 26.35 million per vessel exercisable by E.R. from April 2, 2019 to April 4, 2019, in the event that the company does not exercise the call options. The aggregate exercise price of the call and put options is payable in either, 2/3 cash and 1/3 common shares of Star Bulk, or 100% cash, at the option of the company.The number of consideration shares related to the second acquisition to be issued to E.R. will be determined by the net asset value of the company.“It is also with great pleasure to welcome a prominent ship owner, Mr. Erck Rickmers, to our shareholder base and believe that this transaction validates once again Star Bulk’s ability to use our shares as currency in accretive acquisitions for our shareholders,“ Pappas added.The deliveries of all seven vessels remain also subject to customary closing conditions, including the novation of any existing charter parties of the vessels.The company expects to take delivery of the first three vessels in Q4 2018, while the remaining deliveries, subject to the exercise of the call or put option, are expected to take place between early April and mid July 2019.Following the acquisitions, Star Bulk will have a fleet of 115 vessels with an aggregate cargo-carrying capacity of approximately 13.39 million deadweight tons and an average age of 7.5 years.