Telefónica Company Report

Equity research report

Yacht charter in Portugal- developing a business model for a sailing charter company

Given the signals that Portugal can be a great destination for charter sailing, the purpose of this work is to disprove this. Thereby the model of Porter’s five forces has been used to analyze the Portuguese yacht charter market, whereas a SWOT analysis should give an overview and compare the Portuguese market with the well running charter market of Croatia. The research outcome on the supply side as well as on the demand side should then serve as a foundation for establishing a model of a sailing charter company in Portugal, explained with the aid of the Canvas model.

Nutritional preferences of wood-feeding termites inhabiting floodplain forests of the Amazon River, Brazil

The alimentary preferences of five species of wood-feeding termites of the genus Nasutitermes that coexist in the inundated forests of the floodplains of the Amazon river várzea for species of fresh wood and for wood in different stages of decomposition was evaluated in laboratory tests. Wood of low density was generally preferred; the decay stages were preferred over fresh wood. The five termite species differ in the amplitude of their choices, indicating a strong differentiation in food choice among them. Differences in feeding preferences may be a niche-separating factor for these five Nasutitermes species of the floodplains.

Forest biomass and wood consumption In the lower course of the Amazon: a case study of rhe Urubueua Island

Várzea and terra-firme forests in the lower course of the Amazon were compared in terms of forest structure, wood volume increments and forest biomass. The wood volume of várzea forests was smaller than that of terra-firme forests, particularly when severe human intervention such as the cultivation of açaí palm occurred. The difference was even greater in the forest weight comparison because of the lower wood density of várzea trees. These trees are not directly influenced by water stress during the dry season, while late wood with a high density is formed in the terra-firme trees. The annual forest disappearance area due to firewood for tile factories was estimated to be about 276 ha on the island investigated, which had an area of 36,200 ha. Assuming that the forests are rotatively cultivated every 25 to 30 years, the total deforestation area is 6,870-6,948 ha in 25 years and 8,244~8,337 ha in 30 years. This result means that the balance between forest biomass and utilization is not in crisis, however, this balance might be lost as long as substitutive energy such as electricity is not supplied.

Wood density of trees in black water floodplains of Rio Jaú National Park, Amazonia, Brazil

The Jaú National Park is the largest protected forested area in the world. The Vitória Amazônica Foundation is working towards understanding its ecosystem, to which this paper contributes. Wood density was analysed in 27 common tree species growing in the blackwater flood-plains of the Rio Jaú, an affluent of the Rio Negro (Amazonia, Brazil). Wood was sampled with an increment borer. Mean wood density of the analysed species ranged from 0.35 to 0.87 g cm-3. The mean of all sampled species was 0.67 g cm-3 (st. dev. 0.13). Lowest density was found for Hevea spruceana with 0.32 g cm-3 and highest for Crudia amazonica with 0.9 g cm-3.