2024-03-10 00:14

March 9 (Reuters) - The U.S. Coast Guard said , opens new tab on Saturday it did not observe any remaining recoverable oil sheen during a morning overflight off the coast of Huntington beach, California. On Friday, the agency said it was trying to identify the source of an oil spill off the coast after the sheen, estimated at 2.5 miles (4 km) in length and 0.5 miles (800 meters) in width, was discovered when a Coast Guard helicopter flew over the site at sunrise. "Tar balls were observed along the shoreline in Huntington Beach, and onshore recovery teams will assess the shoreline and remove them as needed," according to the Coast Guard's statement. The investigation into the cause of the sheen is currently underway, the agency said. The Coast Guard said on Saturday they do not believe the sheen and a potential spill of produced water from an offshore platform off Huntington beach on Friday were related. Beta Offshore, a subsidiary of Amplify Energy Corp (AMPY.N) , opens new tab, reported the incident at Platform Elly off Huntington beach on Friday, according to a regulatory filing. "At this time, we have no indication that this sheen is related to our operations", Amplify Energy said in a statement on Friday. In 2021, a spill occurred off the coast of Huntington Beach when an underwater pipeline running from the Elly platform to Long Beach leaked about 588 barrels (24,696 gallons) of oil. https://www.reuters.com/world/us/us-coast-guard-says-no-remaining-recoverable-oil-sheen-seen-off-california-2024-03-10/

2024-03-09 19:50

March 9 (Reuters) - Alaska Airlines (ALK.N) , opens new tab said on Saturday it is cooperating with the U.S. Department of Justice after a criminal investigation was opened into the Boeing (BA.N) , opens new tab 737 MAX blowout on its flight in January. "In an event like this, it's normal for the DOJ to be conducting an investigation. We are fully cooperating and do not believe we are a target of the investigation," Alaska Airlines said in an emailed statement to Reuters. The Wall Street Journal earlier reported, citing documents and people familiar with the matter, that the investigators have contacted some passengers and crew on the Jan. 5 flight, which made an emergency landing in Portland, Oregon, after a fuselage panel ripped off midair. The investigation would inform the DOJ's review of whether Boeing complied with an earlier settlement that resolved a federal investigation following two fatal 737 MAX crashes in 2018 and 2019, the report added. Boeing and DOJ did not immediately respond to Reuters request for comments. The door plug panel blew off an Alaska Airlines-operated flight not long after taking off from a Portland, Oregon, airport on Jan. 5, forcing pilots to scramble to land the plane safely. The U.S. Federal Aviation Administration (FAA) subsequently ordered the temporary grounding of 171 narrowbody MAX 9 jets with a similar configuration. Days after the incident, Alaska Airlines on Jan. 26 resumed MAX 9 service after it said it had completed inspections on the first group of its Boeing 737 MAX 9 aircrafts. In February, the U.S. National Transportation Safety Board said the door panel that flew off appeared to be missing four key bolts. The plug was manufactured by Spirit AeroSystems (SPR.N) , opens new tab, the onetime subsidiary of Boeing that separated from its parent in 2005. https://www.reuters.com/business/aerospace-defense/us-justice-department-opens-criminal-investigation-alaska-airlines-blowout-wsj-2024-03-09/

2024-03-09 15:26

Polish prime minister holds talks with farmers Farmers have been protesting for weeks Union leaders say protests will continue WARSAW, March 9 (Reuters) - Poland's prime minister pledged to reduce a grain surplus on the domestic market at talks with farmers on Saturday, a government official said, but union leaders said they were pressing on with weeks of protests. Prime Minister Donald Tusk held three hours of talks in Warsaw with the farmers, who are demanding a halt to cheap imports and to environmental regulations they say harm their livelihoods. "The premier told the farmers there will be money available to take several million tons of grain off the market," Deputy Agriculture Minister Michal Kolodziejczak told reporters, suggesting a cut of 4-5 million tons had been proposed. But Tomasz Obszanski, leader of the NSZZ RI Solidarnosc union for individual farmers, said after the meeting that the protests would continue and would be stronger. "In reality we left the meeting with nothing," he told reporters. Andrzej Sobocinski, a farmer from northern Poland, told reporters after taking part in the meeting that dealing with the surplus was not enough. "If grain keeps flowing from Russia and other countries the problem will persist," Sobocinski said. Farmers across the European Union have been calling for changes to restrictions placed on them by the bloc's Green Deal plan to tackle climate change, and for the re-imposition of customs duties on imports of agricultural products from Ukraine that were waived after Russia's invasion in 2022. Farmers from neighboring Poland, Hungary and Slovakia, all of which are members of the EU, say the move undercut their prices. Ukraine is not part of the 27-member EU. Poland has called for an EU ban on imports of Russian and Belarusian agricultural products. In Warsaw, protests by tens of thousands of farmers and their supporters ended in violent clashes with police this week, and the protesters warned they would bring Poland to a standstill. The farmers' leaders had hoped to hold talks with Tusk on Tuesday but said their request was turned down. Tusk, however, invited them to talks on Saturday. The protests, including blockades of Ukrainian border crossings and disruptions at ports and on roads, have posed a challenge for the new government led by Tusk. He faces a balancing act, seeking to address farmers' concerns while maintaining Warsaw's staunch support for Kyiv in a year when local and European elections will be held. https://www.reuters.com/world/europe/polish-government-pledges-grain-surplus-cut-farmers-press-with-protests-2024-03-09/

2024-03-09 11:07

SAO PAULO, March 9 (Reuters) - Abu Dhabi-controlled fresh food producer Unifrutti is expanding its footprint in Latin America with two acquisitions in Peru, building on a previous purchase in the region as the firm eyes continued growth in the fruit market. The company has reached a deal to buy both AvoAmerica Peru and Bomarea from U.S.-based Solum Partners and Alpine Fresh, it said on Saturday, following its January acquisition of Verfrut, which produces fruits in Chile and Peru. Unifrutti, which distributes 500,000 metric tons of fresh fruits worldwide per year, has been controlled by ADQ since 2022 as the Abu Dhabi sovereign wealth fund focused on agriculture as a way to boost its financial gains and increase food resilience in the United Arab Emirates. The newly acquired companies grow avocados and blueberries, both new markets for the company, which is a big producer of apples, grapes and cherries with plots in Chile, Italy, the Philippines and South Africa. Oil-rich Middle Eastern countries such as Saudi Arabia and the UAE, which imports 90% of its food, have often invested in food companies overseas in a push toward food security. Under ADQ, Unifrutti is looking to grow and Latin America seemed the right place for the "initial phase" of its plans. "Latam is probably the world's most important region for fruit exports, in particular to the U.S., Europe and China, so it made a lot of sense for our M&A efforts to begin in Chile and Peru" Unifrutti Chief M&A and Strategy Officer Karl Stehelin de Taisne told Reuters. Unifrutti did not disclose the size of the deals, but Stehelin De Taisne noted they point to a broader global strategy to grow in scale where the firm is already present and to fill the gaps in key products with M&As and greenfield projects. Stehelin De Taisne emphasized Peru was the "starting point" of Unifrutti's strategy, but other countries were on the radar. "Mexico is a very interesting producing region. We have to assess the best way to penetrate the country in terms of production and sourcing, of berries and avocados for instance," he said. "Colombia to a lesser extent for avocado, although probably more challenging." https://www.reuters.com/markets/deals/abu-dhabi-owned-unifrutti-eyes-further-latam-growth-after-fresh-acquisitions-2024-03-09/

2024-03-09 08:45

CAIRO, March 9 (Reuters) - U.S., French and British forces downed dozens of drones in the Red Sea area overnight and on Saturday after Yemen's Iran-aligned Houthis targeted bulk carrier Propel Fortune and U.S. destroyers in the region, the U.S. military said in a statement. The Houthis have been attacking ships in the Red Sea and Gulf of Aden since November in what they say is a campaign of solidarity with Palestinians during Israel's war against Hamas in Gaza. The group's military spokesman Yahya Sarea said in a televised speech on Saturday they had targeted the cargo vessel and "a number of U.S. war destroyers at the Red Sea and Gulf of Aden with 37 drones". U.S. Central Command (CENTCOM) said the U.S. military and coalition forces had downed at least 28 uncrewed aerial vehicles (UAVs) over the Red Sea in the early hours of Saturday. "No U.S. or Coalition Navy vessels were damaged in the attack and there were also no reports by commercial ships of damage," CENTCOM said in a statement. Earlier on Saturday, CENTCOM said the military was responding to a large-scale attack on ships in the Red Sea and Gulf of Aden between 4 a.m. and 6:30 a.m. (0100-0330 GMT). The UAVs were intended to present "an imminent threat to merchant vessels, U.S. Navy, and coalition ships in the region", it said in a post on social media platform X. A French warship and fighter jets also shot down four combat drones that were advancing towards naval vessels belonging to the European Aspides mission in the region, a French army statement said. "This defensive action directly contributed to the protection of the cargo ship True Confidence, under the Barbados flag, which was struck on March 6 and is being towed, as well as other commercial vessels transiting in the area," it said. France has a warship in the area as well as warplanes at its bases in Djibouti and the United Arab Emirates. DRONE ATTACK Britain's Ministry of Defence said its warship HMS Richmond had joined international allies in repelling a Houthi drone attack overnight, saying no injuries or damage were sustained. "Last night, HMS Richmond used its Sea Ceptor missiles to shoot down two attack drones - successfully repelling yet another illegal attack by the Iranian-backed Houthis," defence minister Grant Shapps said on X. "The UK and our allies will continue to take the action necessary to save lives and protect freedom of navigation." On Wednesday three seafarers were killed in a missile strike by the Houthis on the Greek-operated True Confidence, the first civilian casualties since the group started its attacks on the key shipping route. The United Kingdom Maritime Trade Operations (UKMTO) also confirmed there had been an attempted attack on the Singapore-flagged Propel Fortune. It said the shipping company reported two explosions in close vicinity of the bulk carrier, but all crew on board were safe and the vessel was proceeding to its next port of call. "Based on sources, Propel Fortune was likely targeted due to outdated U.S. ownership data," UKMTO said in a statement. Sarea said the Houthis would continue their attacks "until the aggression stops and the siege on the Palestinian people in the Gaza Strip is lifted". https://www.reuters.com/world/middle-east/yemens-houthis-say-they-targeted-bulk-carrier-number-us-war-destroyers-red-sea-2024-03-09/

2024-03-09 08:07

BEIJING, March 9 (Reuters) - China's lithium industry would benefit from a stabilisation of prices of the battery metal, which is set for a long-term uptrend, said the chairman of Ganfeng Lithium, a major Chinese supplier of the battery metal. Lithium demand from producers of power batteries, energy storage and others will keep growing amid "an irreversible trend" of global energy transition, Ganfeng Lithium (002460.SZ) , opens new tab Chairman Li Liangbin told Reuters on Friday. Some fluctuations are inevitable during the uptrend, he wrote in response to Reuters questions. China's lithium prices have plunged over the past year on surging supplies and slowing demand. Spot lithium carbonate prices in the world's top electric vehicle market are hovering around 100,000 yuan ($14,000) per ton, about one-sixth their November 2022 peak. The fall has hit miners' profits, threatening to curb global output. "If lithium prices can stabilise between 80,000 and 150,000 yuan, leaving upstream and downstream (companies) along the industry chain certain profit, it might be the best development environment for the whole industry," said Li, who is a delegate of the National People's Congress at the annual meeting of parliament in Beijing. China and Chinese companies have taken many measures to stabilise prices, Li said, including the launch of a lithium carbonate futures trading platform and companies making purchases via long-term contract to ensure steady supply and prices. Geopolitics brings certain entry barriers and risks of investment failure for companies, wrote Li, whose company has massive investments in overseas resources, including Australia and Argentina. It exports to Europe, Japan and South Korea. Gangfeng's subsidiary in Mexico had to indefinitely postpone its target to start mining after the local government cancelled nine of its concessions, Reuters reported in November. On the other hand, geopolitics will aid more international cooperation such as Chinese companies partnering with locals to set up production, Li said. ($1 = 7.1855 Chinese yuan renminbi) https://www.reuters.com/markets/commodities/chinas-lithium-market-set-long-term-uptrend-says-ganfeng-lithium-2024-03-09/