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Jumbo Offshore wraps up monopile removal works in Taiwan

Jumbo Offshore has completed the removal of two monopiles on the Offshore Wind Farm (OWF) Yunlin in Taiwan. The Jumbo Offshore crew reliably carried out the work, whilst deploying its DP2 Heavy Lift Crane Vessel Fairplayer from Europe to support the onsite operations. Jumbo Offshore was awarded the contract by Yunneng Wind Power Co., Ltd. (YWPC) earlier this year for the removal of monopiles at the Yunlin OWF. The contract award represented an expansion of Jumbo Offshore’s existing scope, involving the transportation and installation (T&I) of the transition pieces. Under ...

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Maersk had cargo onboard freight train in Czech railway accident

Shipping group Maersk said on Friday the freight train that collided with a passenger train in the Czech Republic on Wednesday carried Maersk cargo, and it was assessing any damage to its containers onboard. Four people from Slovakia and Ukraine were killed and more than 20 injured when a passenger express train and a freight train collided in the Czech city of Pardubice late on Wednesday. Denmark’s Maersk said in a statement train operations between Kostenice and Pardubice had been suspended with repairs of the junction expected to take days, ...

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World Oceans Day 2024: A wounded planet needs our care – OceanCare launches international initiative

UN World Oceans Day, celebrated internationally on 8 June, reminds us that a healthy Ocean, with thriving and well-protected wildlife and resilient marine ecosystems, is essential for a healthy planet. The Ocean, which covers more than 70 per cent of the Earth’s surface, provides significant benefits to the global community, which depend in large part on the maintenance of ocean processes, marine biodiversity and related ecosystem services. The climate and environmental emergency we are experiencing is a crisis of unprecedented proportions and threatens our very survival. Addressing the ocean crisis ...

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French soft wheat rated 62% in good or excellent condition by June 3

Some 62% of French soft wheat was rated as in good or excellent condition by June 3, up from 61% a week earlier but down from 88% a year ago, farm office FranceAgriMer said on Friday. The rating was the lowest for the time of year since 2020, when French wheat crops were also affected by heavy rain during planting, data published in a cereal report by FranceAgriMer showed. Source: Reuters (Reporting by Nathan Vifflin and Piotr Lipinski; Editing by Jan Harvey)

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Norway gas flow to Britain resumes after repair

The flow of Norwegian gas to northern England via the Langeled pipeline resumed on Friday asrepairs were completed following a June 2 outage that triggered renewed concerns over energy security in Europe. “The ramp-up of the gas transport from the Nyhamna processing plant to the receiving terminal in Easington is ongoing,” Norwegian pipeline system operator Gassco said, referring to facilities at each end of the Langeled pipeline. Britain’s Easington import terminal received gas from Langeled at a rate of 40.3 million cubic metres (mcm) per day at 1058GMT, up from ...

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German plans for new gas plant tenders slip into 2025 as details remain unclear

Details on how to support the construction of 10 GW of new hydrogen-ready gas-fired power plants in Germany required by 2030 remain unclear and contentious, with the planned first tender unlikely this year, according to political decision makers and developers speaking at the BDEW energy congress in Berlin on June 6. Energy minister Robert Habeck, speaking on a panel, said a political framework decision on the “power plant strategy” within the governing coalition was still possible before the summer break. This would allow a “power plant support law” to proceed ...

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Asia Naphtha/Gasoline-Naphtha margin slips for third straight day

Asia’s naphtha refining profit margin fell for a third consecutive session on Friday amid volatility in crude oil benchmarks. The crack fell by $3.50 to $58 per metric ton over Brent crude in a steady backwardation of $8.25 a ton. In tenders, an Indonesian refiner sought 44,000 tons of naphtha for mid-August delivery, market sources said. The tender closes on June 13. The gasoline refining profit margin was steady below $7 per barrel over Brent crude amid abundant supplies in the region and slow demand in the United States. India’s ...

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Canada’s oil sands CEOs push back against proposed oil and gas emissions cap

Canada’s biggest oil sands producers support a paying a tax on carbon but see a proposed federal oil and gas emissions cap as unnecessary legislation, the companies’ CEOs told lawmakers in Ottawa. Executives from Suncor Energy SU.TO, Imperial Oil IMO.TO, Cenovus Energy CVE.TO, Enbridge ENB.TO and Shell SHEL.L appeared via videolink before a House of Commons committee to answer questions on their efforts to cut emissions. Prime Minister Justin Trudeau’s Liberal government is planning to introduce a cap on oil and gas emissions but faces stiff opposition from producers, who ...

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Europe Gas: Prices ease as Norway gas flows rise, but wider concerns linger

British and Dutch gas prices fell on Friday morning as Norwegian gas via a key pipeline to Britain resumed after a 5-day halt for unplanned repairs, highlighting Europe’s continued edgy supply picture. The benchmark front-month contract at the Dutch TTF hub eased 0.18 euro to 33.00 euros per megawatt hour (MWh) by 0818 GMT, equivalent to $10.53/mmBtu, according to LSEG data. The Dutch day-ahead contract was down 0.45 euros at 32.90 euros/MWh. In the British market, the day-ahead contract fell 0.45 pence to 78.75 pence per therm and the within-day ...

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Wheat slides further as Turkish import ban dents demand outlook

Chicago and Paris wheat futures extended losses on Friday to one-month lows as news of an import ban by Turkey weakened the demand outlook and eclipsed concerns over weather damage to crops in Russia. Corn and soybean futures edged lower, after rebounding in the previous session when news of tighter rules on tax credits in Brazil led to hopes that U.S. exports could benefit. The most-active wheat contract on the Chicago Board of Trade (CBOT) Wv1 was down 2.1% at $6.26-1/4 a bushel by 0953 GMT, on track for its ...

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Copper hits one-month low after US payrolls data

Copper prices in London extended their fall to hit the lowest in more than four weeks on Friday, under pressure from a stronger dollar, U.S. employment data and mixed trade numbers from top metals consumer China. Three-month copper on the London Metal Exchange CMCU3 was 3.1% lower at $9,837 per metric ton by 1311 GMT, after breaking below the 50-day moving average at $9,862 to touch its lowest since May 8 at $9,830. The dollar surged after data showed the U.S. economy created more jobs than expected in May, cutting ...

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Sugar mill strikes put Australia’s cane harvest at risk

Industrial disputes at factories that produce more than half of Australia’s sugar could cause cane to be left unharvested if they are not resolved soon, threatening production and exports, people in the industry said. Strikes over pay at eight mills owned by Singapore’s Wilmar International that produce over 2 million metric tons – worth around $1 billion – of sugar a year have delayed the start of cane crushing operations by between two and 13 days, the company’s Australian subsidiary said. A ninth mill, owned by Chinese conglomerate COFCO, said ...

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World Environment Day and World Ocean Day: CEVA Logistics confirms commitment to sustainable global supply chain

CEVA Logistics, part of the CMA CGM Group, remains committed to “Acting for the Planet” in celebration of this week’s two global events—World Environment Day (June 5) and World Ocean Day (June 8). The company’s focus on respecting the environment is one of its three main CSR pillars and a key lever in its corporate strategy for the future. CEVA is taking tangible action today, with an eye on the solutions of tomorrow. The CMA CGM Group, including CEVA Logistics, aims at becoming net zero carbon by 2050. The Group ...

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OceanPal Inc. Reports Financial Results for the First Quarter Ended March 31, 2024

OceanPal Inc. (NASDAQ: OP) (the “Company”), a global shipping company specializing in the ownership of vessels, today reported time charter revenues of $5.7 million, net loss of $1.3 million and net loss attributed to common stockholders of $1.7 million for the first quarter of 2024. This compares to time charter revenues of $3.9 million, net income of $88 thousand and net loss attributed to common stockholders of $472 thousand for the first quarter of 2023. OceanPal Inc. is a global provider of shipping transportation services through its ownership of vessels. ...

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ECB’s Villeroy keeps faith in soft landing for inflation

The European Central Bank remains confident about a “soft landing” in euro zone inflation and it will cut interest rates at the appropriate pace after its first move on Thursday, ECB policymaker Francois Villeroy de Galhau said on Friday. “(Thursday’s rate cut) marks our confidence in the ongoing ‘soft landing’, looking past the monthly ups and downs of inflation between now and the end of 2024,” the Banque de France governor said in a statement. “We will adapt the appropriate pace with future rate cuts, without haste or procrastination.” Source: ...

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