Denmark

Houthi militants in Yemen have actually stepped up attacks on vessels in the Red Sea, impacting a shipping route important to eastwest trade. Some shipping companies have actually responded by instructing vessels to sail around southern Africa instead, a longer and for that reason more pricey route. Below are actions taken by business (in alphabetical order): C.H. ROBINSON The international logistics group stated on Dec. 22 it had actually rerouted more than 25 vessels around Africa over the previous week, and that number was likely to grow. CMA CGM The French shipping group has suspended most Red Sea trips however...

Nordic forward power rates extended gains on Tuesday as rainfall levels were seen at below-normal levels in the hydropower-dependent region, with strong European gas and power markets offering extra support. * The Nordic front-quarter agreement rose 2.05 euros or 6.51% to 33.55 euros per megawatt-hour (MWh) by 1059 GMT, on track for its best day considering that Feb. 28. * The Nordic front-year baseload power agreement gained 1.26 euros or 2.92% to 44.4 euros/MWh. ** The front-quarter agreement increased for the fourth straight session, while the front-year rose for the ninth. * Dry and cold weather raised the front-quarter contract,...

Nordic forward power rates edged higher on Wednesday, helped by a drier weather outlook and a. small decline in water reserves, while lower German power. costs topped further upside. * The Nordic front-quarter agreement rose 0.25. euros to 27 euros per megawatt-hour (MWh) by 1124 GMT. * The Nordic front-year baseload power agreement. gained 0.35 euros to 39.65 euros/MWh. * The weather report are rather drier today, which is. supplying assistance to the rates, stated Oletom Djupskaas, a power. analyst at LSEG. * Nordic water reserves offered 15 days ahead. were seen at 2.45 terawatt hours (TWh) listed below typical,...

The Danish central bank on Wednesday nearly doubled its projection for financial growth this year due to strong production by drug maker Novo Nordisk and the reboot of gas production in the North Sea. The central bank anticipates GDP to increase by 2.4% this year and 1.4% next year, up from a previous forecast of 1.3% for both years. The higher development forecast was partly due to the boost in production abroad by Danish pharmaceutical business and the restart this month of Denmark's Tyra gas field, which was shut for redevelopment in 2019, the central bank stated. Without these 2...

TotalEnergies has rebooted production at Denmark's Tyra gas field, the country's largest, after it was momentarily closed for redevelopment in 2019, the French oil group stated on Friday. The redeveloped field, called Tyra II, will produce 5.7 million cubic meters of gas and 22,000 barrels of condensate per day when it reaches complete capability late this year, TotalEnergies said in a statement. Denmark presently depends on imports of gas however full production at Tyra would once again make the country self-dependent and a net exporter of gas. Prior to its shutdown, Tyra worked as a processing and export center for...

The corporate exodus from Russia considering that its 2022 intrusion of Ukraine has actually cost foreign companies more than $107 billion in writedowns and lost earnings, a analysis of business filings and statements showed. The volume of losses have increased by one 3rd given that the last tally in August last year, underscoring the scale of the financial hit to the business world from Moscow's invasion, as well as highlighting the sudden loss of Western knowledge from Russia's economy. As Russia's intrusion continues amid faltering Western military help, and the granularity of Western sanctions programs boosts, companies still intending to...

Bucharestbased energy group Premier Energy aims to enhance its renewable energy portfolio by 50% to 1.5 GW over the next twotothree years, while continuing to buy neighbouring Moldova, its chief executives stated. The business, owned by Czech financial investment holding Emma Capital, has 1,000 MW of green jobs under ownership, management or in advancement in Romania, uniformly split between wind and solar and across the nation. It built 10 MW of solar power in Moldova in 2015 and is seeking to include another 20 MW in 2024. The company, which materials and distributes energy, is the 3rd biggest gas supplier...

BP stated on Thursday its head of gas and low carbon energy AnjaIsabel Dotzenrath will step down after simply over 2 years, while CEO Murray Auchincloss revealed strategies to streamline its management structure. Dotzenrath, who signed up with BP in March 2022 from RWE Renewables to lead its efforts to quickly expand in renewables and low-carbon energy, stated in an internal message to personnel that she had actually chosen to leave in order to commit more time to her family. She will leave in the third quarter and be replaced by BP veteran William Lin, whose existing areas, corporates and...

Nord Stream's. insurers have denied that their policies supply cover for gas. pipelines damaged by blasts in 2022 because the damage was. caused by war, in their written defence to a suit filed at. London's High Court. Nord Stream is seeking more than 400 million euros ($ 427. million) from its insurance companies over the explosions which ruptured. pipelines developed to transfer Russian gas to Germany. It called Lloyd's Insurance Company and Arch Insurance (EU). DAC as defendants in the suit. Sweden-- which in February dropped its examination-- and. Germany have both found traces of explosives relating to the. occurrence...

Insurance plan for the Nord Stream gas pipelines damaged by blasts in 2022 did not attend to protection in the case of war, Kommersant daily reported on Thursday, mentioning files submitted at London's High Court. Nord Stream is looking for more than 400 million euros ($ 427. million) from its insurers over the explosions which burst. pipelines created to transport Russian gas to Germany. It named. Lloyd's Insurance Company and Arch Insurance (EU) DAC. as defendants in the match. Sweden-- which in February dropped its investigation-- and. Germany have both discovered traces of dynamites associating with the. occurrence that burst...

A significant bridge collapsed in the U.S. port of Baltimore in the early hours of Tuesday after being struck by a container ship, plunging vehicles into the river listed below. Traffic was suspended at the port until additional notification, Maryland transportation authorities said. PORT INCLUDES It is the deepest harbor in Maryland's Chesapeake Bay, closer to the Midwest than other East Coast ports, with 5 public and 12 private terminals, according to Maryland federal government site. It is among the tiniest container ports on the Northeastern seaboard, handling 265,000 containers in the fourth quarter of last year, according to container...

Houthi militants in Yemen said on Tuesday they had actually mounted six attacks on ships with drones and missiles in the last 72 hours in the Gulf of Aden and the Red Sea, but among the business called, Denmark's Maersk, denied its vessel had actually been targeted. The Houthis said they attacked the Maersk Saratoga, APL Detroit, and the Huang Pu after recognizing them as either U.S. or British, in addition to Pretty Girl ship which they claim was heading to Israel, the group's military spokesperson Yahya Sarea said in a declaration. Maersk rejected that the Saratoga had actually been...

Denmark's Orsted , the world's most significant offshore wind farm designer, stated on Wednesday a task in Taiwan that will supply power for chipmaker TSMC is progressing well and is on track for completion next year. Orsted stated in March of in 2015 it had actually made a final investment decision to proceed with its planned 920 megawatt ( MW) Greater Changhua 2b and 4 overseas wind farms, which will primarily supply Taiwan Semiconductor Production Co (TSMC). , the world's biggest contract chipmaker. Orsted has not stated how much it is buying the task. We are advancing very well on...

Installed overseas wind capability in the U.S. grew to 242 megawatt (MW) in the first quarter of the year from 42 MW in the previous quarter, the Oceantic Network stated in its report, showcasing a recovery in a formerly volatile market. WHY IT is necessary The overseas wind industry is anticipated to play a significant function in assisting several states and, the Biden administration satisfy objectives to decarbonize the power grid and battle environment change. The industry had a difficult 2023 after designers wrote off billions of dollars in disability charges due to high-interest rates, supply chain snags, and rising...

Nordic forward power rates slipped for a 2nd straight session on Wednesday, pressured by projections for higher precipitation in the hydropowerreliant region and enhancing water reserves. * The Nordic front-quarter contract was down by 1.18 euros at 35.3 euros per megawatt-hour (MWh) by 1050 GMT. * The Nordic front-year baseload power contract lost 0.3 euro to 39.1 euros/MWh. * Both temperatures and rainfall amounts are anticipated somewhat greater than seasonal average throughout the next ten days ... the hydro balance is still in a deficit although it is shrinking due to the wetter conditions, analysts at Energi Danmark said in...

Nordic frontquarter power costs inched higher on Thursday as a cold and dry weather condition view lifted the need outlook in the hydropowerreliant area, while weaker European energy rates capped even more upside. * The Nordic front-quarter agreement increased 0.02 euros to 36.75 euros per megawatt-hour (MWh) by 1158 GMT. * The Nordic front-year baseload power contract was little altered at 39 euros/MWh. * In spite of falling gas and continental power market, bullish weather stays the main chauffeur for Nordic costs, stated Sigve Ekeland, managing director at Cemon AS, said. * Dutch and British wholesale timely gas prices mostly...

The European Commission has inquired as part of a preliminary review of possible market distortions by Chinese wind turbine makers in 5 European Union countries, a relocation that China called discriminatory. EU competition chief Margrethe Vestager said on Tuesday the Commission was investigating the conditions for wind park advancement in Spain, Greece, France, Romania and Bulgaria, without providing more information about why these countries in particular were highlighted. HOW MANY TURBINES ARE SUPPLIED BY CHINESE PRODUCERS? Around 2.6 gigawatts (GW) of Chinese-made wind turbines are currently installed or prepared to be installed in Europe, consisting of Britain, according to lobby...

China stated it was worried by what it called discriminatory procedures by the European Union against its firms after the bloc said it would investigate subsidies gotten by Chinese suppliers of wind turbines predestined for its nations. The outdoors world is fretted about the increasing propensity of protectionism in the EU, foreign ministry representative Mao Ning said at a regular press rundown on Wednesday. China is extremely worried about the prejudiced procedures taken by the European Union against Chinese companies and even industries, Mao said, adding that the bloc must follow World Trade Organization rules and market concepts. The investigation,...

The Biden administration on Tuesday provided final approval to Orsted and Eversource's. Dawn Wind overseas wind facility, which is anticipated to. offer power to more than 320,000 homes in New york city. The announcement was the current positive development for the. job, which Denmark's Orsted alerted just months earlier could. fail without a brand-new contract that would cover soaring costs for. devices and financing. It was likewise the seventh offshore wind job approval by. President Joe Biden's Interior Department, which has a goal of. allowing 30 gigawatts of offshore wind capacity by 2030 as. part of the president's climate modification...

The German federal government must take into account expansion expenses in its national ports strategy as more capacity is urgently needed to meet increased wind power needs in the country's energy transition plans, the BWE wind power association stated. Germany's Transport Ministry on Wednesday released the nation's National Port Method, detailing around 140 federal and state measures needed for growth and maintenance and the governmental bodies accountable for that. The question of funding port growths remained open. By law, the federal states are accountable for funding their ports, however they have actually been asking for federal money saying ports are...

Nordic forward power prices fell on Monday, tracking lower rates in the larger continental power market and on a forecast of warmerthannormal weather in some parts of the region. * The Nordic front-quarter agreement was down 1.05 euros to 36.75 euros per megawatt-hour (MWh) since 11:39 GMT. * The Nordic front-year contracts lost 0.30 euro to 45.50 euros/MWh. * In neighbouring markets, European spot power costs fell as greater renewables supply was expected to surpass increasing need, while Dutch and British wholesale gas rates were blended. * Germany's Cal '25 baseload, Europe's standard contract, fell 0.90 euro to 92.60 euros/MWh....

New york city authorities on Thursday awarded conditional contracts to buy electricity from two proposed offshore wind projects under a program indicated to support the embattled industry and keep the state's enthusiastic tidy energy goals on track. The state said it had selected the Empire Wind 1 job from Norway's Equinor and the Sunrise Wind center being established by Denmark's Orsted and U.S. power provider Eversource. Once finished, the tasks will produce sufficient electrical energy to power 1 million homes, the state said. They will be the biggest electricity generation jobs integrated in the state in nearly 4 years. The...