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People focus: Diabetes and the seafarer

Type 2 diabetes – a growing global health threat that puts seafarers at risk Diabetes is a chronic disease that occurs when the pancreas is no longer able to make insulin, or when the body cannot make good use of the insulin it produces. Insulin is a hormone, that acts like a key to let glucose from the food we eat pass from the blood stream into the cells in the body to produce energy. All carbohydrate foods are broken down into glucose in the blood. Insulin helps glucose get ...

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Mammoet USA announces agreement with New York port

Mammoet is pleased to announce its agreement with Port of Coeymans Marine Terminal, owned and operated by Carver Companies, in Coeymans, New York. The collaboration allows Mammoet access to the port’s 400-acre marine terminal facility conveniently located along the Hudson River 100 miles North of New York City and 10 miles South of Albany, NY. Over the years, Mammoet has developed a relationship with the Port of Coeymans while utilizing the port during the execution of local projects such as the roll-off operation of a fully assembled HRSG module, and ...

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Inpex sells cargo from Australia’s Ichthys LNG -sources

Inpex Corp, operator of Australia’s Ichthys LNG liquefied natural gas plant, has sold a cargo for loading in December, three industry sources said on Thursday. It likely sold the cargo on a free-on-board basis at about $4.50 per million British thermal units (mmBtu), two of the sources said, though this could not be immediately confirmed. Details of the buyer could also not be confirmed. Production at Ichthys LNG, Japan’s biggest foreign investment, has risen towards its full capacity of 8.9 million tonnes a year (mtpa) quicker than expected, consultants Wood ...

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China, India are both the problem and solution for coal, climate change

One thing becomes absolutely clear when reading the IEA’s latest World Energy Outlook; if the world is to have even the remotest chance of making its climate goals, then China and India are going to have to do something about their coal use. The International Energy Agency’s report said coal is responsible for 30% of all energy-related carbon dioxide emissions, making it the biggest single contributor. If the world is to limit the increase in temperature as a result of climate change to less than 2 degrees Celsius (3.6 degrees ...

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OPEC sees US shale growth slowing, trade tension pessimism ‘overblown’

The market is too pessimistic over US-China trade tensions, and forecasts of US shale production growth are too optimistic, OPEC Secretary General Mohammed Barkindo said Wednesday, outlining his bullish case for oil prices in the year ahead. With many analysts speculating that OPEC and its allies will have to deepen their output cuts to prevent a price slide in 2020, Barkindo said he sees positive indicators ahead for the global economy that would enable the oil producer coalition to stay the course. The US and China, the world’s two largest ...

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China Oct crude oil output flat, gas up 8.2% y/y -stats bureau

China’s October crude oil output was flat to a year earlier at 16.11 million tonnes, data from the National Bureau of Statistics showed on Thursday. Natural gas output in October rose 8.2% from the same month last year to 14.6 billion cubic metres, the data showed. Source: Reuters (Reporting by Chen Aizhu; Editing by Tom Hogue)

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Oil Firms Braces for a Credit Crunch as Lender Patience Wears Thin

Troubled energy companies have had a rough ride this year, but the worst may not be over as a pile of debt starts coming due about a year from now. North American oil and gas producers have about $93 billion of debt coming due by the end of 2023, according to data compiled by Moody’s Investors Service in October 2018, the most recent available. It’s a refinancing wall not seen since the last energy crisis began in 2014, when oil plunged from record highs and sent dozens of companies toward ...

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U.S. crude output hits new monthly record, seen rising through 2020

U.S. crude oil output hit a record of 13 million bpd this month and will grow more than expected in 2019 and 2020, the U.S. Energy Information Administration said in a forecast issued this week. U.S. oil production is expected to rise to 12.29 million barrels per day this year, 30,000 bpd more than the EIA forecast last month, according to a monthly report. U.S. oil output is expected to rise an additional million bpd to 13.29 million bpd in 2020, the agency said. “The United States remains on course ...

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Asia Distillates-Gasoil cracks rise, but supplies still aplenty

Asian refining margins for 10 ppm gasoil rose on Thursday but still hovered near their five-month lows touched in the previous session as the region wrestled with abundant supplies. Refining margins or cracks for 10 ppm gasoil rose to $14.95 per barrel over Dubai crude during Asian trade on Thursday. The cracks had fallen to $14.27 per barrel on Wednesday, their lowest since June 11. The gasoil cracks have declined in recent weeks as some regional refineries return to production after maintenance, while export volumes from state refiners in India ...

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China’s comprehensive LNG import price rises last week

China’s comprehensive import price index for liquefied natural gas (LNG) rose last week, according to Shanghai Petroleum and Natural Gas Exchange (SHPGX). The LNG index, not including tax, came in at 3,207 yuan (about 458 U.S. dollars) per tonne from Nov. 4-10, 2019, up 0.03 percent from the reading of 3,206 yuan per tonne the week before. The index, jointly developed by a monitoring center under the General Administration of Customs and the SHPGX, was launched on Oct. 16, 2019 and is due on a weekly basis to offer a ...

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U.S. natgas output, demand seen rising to record highs in 2019 -EIA

U.S. dry natural gas production will rise to an all-time high of 92.13 billion cubic feet per day (bcfd) in 2019 from a record high of 83.80 bcfd last year, the Energy Information Administration said in its Short Term Energy Outlook (STEO). The latest output projection for 2019 was up from EIA’s 91.63 bcfd forecast in October. EIA also projected U.S. gas consumption would rise to an all-time high of 85.10 bcfd in 2019 from a record 82.50 bcfd a year ago. The 2019 demand projection in the November STEO ...

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Poland’s PGNiG warns of crisis on Europe’s gas market

Poland’s dominant gas firm, state-run PGNiG, warned on Thursday of a possible supply crisis on Europe’s gas market due to uncertainty over future flows from Russian Gazprom’s via Ukraine. The current gas transit agreement between Moscow and Kiev expires at the end of the year, and the European Union has urged Russia and Ukraine to reach a new deal before then. A number of obstacles remain however, including a pro-Russian insurgency in eastern Ukraine, and litigation between Gazprom and Ukrainian energy firm Naftogaz. “Europe is getting ready for a crisis. ...

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Euro zone economy continues steady growth in third quarter

The euro zone economy continued to grow at a modest pace in the July-September period as expected, data from the EU statistics office showed on Thursday, as Germany narrowly escaped a technical recession and other big economies expanded. The European Union’s statistics office Eurostat said gross domestic product in the 19 countries sharing the euro increased 0.2% quarter-on-quarter in the third quarter for a 1.2% year-on-year gain. The quarterly expansion was in line with a Eurostat preliminary flash estimate earlier this month and market expectations, although the previous year-on-year figure ...

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China will further prioritise stabilizing growth – premier Li

China’s Premier Li Keqiang said the country will further prioritise stabilizing growth, according to state media on Thursday citing a meeting he had with local officials. China’s factory output growth and other key indicators slowed significantly and missed forecasts in October, data from the statistics bureau showed Thursday, as weakness in global and domestic demand and the drawn-out Sino-U.S. trade war weighed on the world’s second-largest economy. China’s regional differentiation in economic performance is widening, with some regions showing weakening growth, said Li. China will further prioritize maintaining growth within ...

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Germany Dodges Recession With Surprise Third-Quarter Growth

Germany narrowly dodged what would have been its first recession in six years, putting a damper on speculation that the government will add fiscal stimulus any time soon. The surprise expansion doesn’t change the fact that the economy is going through a torrid period that’s turned it from the euro area’s traditional growth engine into a source of weakness. Expansion was just 0.1% in the third quarter, with the 19-country currency bloc only a little better, at 0.2%. A pile up of trade tensions, weaker world demand and turmoil in ...

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