Search results for: race bank

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  • TORM buys scrubber-fitted LR2 trio for $120.8 m

    12 May 2021
    Environment, Equipment, Transition, Vessels

    Danish carrier of refined oil products TORM has signed an agreement to purchase three 2015-built scrubber-fitted and fuel-efficient LR2 vessels, splashing $120.8 million on the deal. The ships, named Nissos Schinoussa, Nissos Heraclea, and Nissos Therassia, are being bought from Okeanis Eco Tankers Corp. The vessels are expected to be delivered during the remainder of the […]

  • Ørsted posts strong results, sees no significant impact from COVID-19

    29 April 2020
    Business & Finance

    Leading offshore wind developer Ørsted reported an operating profit (EBITDA) of DKK 6.8 billion (EUR 912 million) for the first quarter of 2020, a 33 percent increase compared to the same period the year before. Net profit amounted to DKK 3.3 billion and return on capital employed (ROCE) came in at 11 percent for the […]

  • Slow Mill wave energy generator hits the water

    16 June 2022
    Business Developments & Projects

    Dutch wave energy company Slow Mill Sustainable Power has reached the milestone of deploying its wave energy generator into the water after constructing and testing the device. “Despite two years of slow pace pandemic progress, we managed to construct piece by piece of the device, transport it to the harbour, assemble it, build in the […]

  • Hapag-Lloyd off to a good start in 2021

    12 May 2021
    Business & Finance, Business Developments & Projects

    Despite a slight decline in transport volumes, German container shipping major Hapag-Lloyd closed the first quarter of 2021 with improved revenue and earnings. Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose to roughly $1.9 billion in Q1 2021 from $517 million reported in the corresponding period a year earlier. Earnings before interest and taxes (EBIT) […]

  • NGO Shipbreaking: Pakistani workers injured while scrapping mercury-laden tanker

    1 June 2021
    Environment, Human Capital, Regulation & Policy, Rules & Regulation, Safety, Vessels

    Scrapping of the Floating Storage and Offloading (FSO) tanker J. NAT in Gadani, Pakistan, has been suspended by local authorities following intoxication and burning of workers, NGO Shipbreaking informed. The tanker hit the shipbreaking shores of Gadani recently, after going several months off the radar. The vessel was in the center of media attention for over […]

  • China is the world’s leading shipowning nation

    25 November 2021
    Authorities & Government, Infrastructure, Outlook & Strategy, Vessels

    China tops the list of the ten biggest shipowning nations globally, according to VesselsValue.

  • GCMD survey unveils decarbonization blind spots: Industry cannot decarbonize without conservatives

    12 June 2023
    Authorities & Government, Certification & Classification, Environment, Green Marine, Market Outlooks, Outlook & Strategy, Ports & Logistics, Regulation & Policy, Research & Development, Rules & Regulation, Transition, Vessels

    Singapore-based Global Centre for Maritime Decarbonization and Boston Consulting Group have revealed major insights from the Global Maritime Decarbonization Survey during a presentation held at Nor-Shipping 2023’s Tradewinds Ocean Stage. The survey sheds light on the current state of maritime decarbonization and provides guidance for driving action within the industry. During the presentation, Lynn Loo, […]

  • Additional Funding for Great Barrier Reef Protection

    23 March 2015
    Business & Finance

    The Commonwealth Government will commit an additional $100 million in new funding for the Reef Trust to support the implementation of the historic Reef 2050 Long Term Sustainability Plan for the protection and management of the Great Barrier Reef. Last year, the Coalition delivered on its commitment to establish a $40 million Reef Trust which […]

  • Lawsuit Challenges Massive U.S. Funded Project in Australia’s GBR

    8 October 2013
    Business & Finance

    Conservation groups amended an existing lawsuit yesterday to challenge U.S. funding for a second fossil fuel production and transport facility located inside Australia’s Great Barrier Reef World Heritage Area. The U.S. Export-Import Bank has now committed nearly $5 billion in loans to support construction and operation of the two massive liquefied natural gas facilities. Located […]

  • Tsakos: We have four ships facing serious engine problems due to poor bunker quality

    23 July 2020
    Business & Finance, Rules & Regulation, Vision

    Seven months into the implementation of the IMO 2020 sulphur cap, which shaped a monumental shift for the shipping industry to less-polluting fuels, the issues with regard to the quality of bunkers persis, despite being sidetracked by the COVID-19 pandemic. Speaking in a recent webinar hosted by Capital Link, Nikolas P. Tsakos, founder and Chief […]

  • Salix Completes River Nar Project

    7 June 2017
    Business & Finance

    Working with the Norfolk Rivers Trust and cbec, Salix has just completed a project that will help improve wildlife habitats on a section of the chalk River Nar at Pentney, near Kings Lynn in west Norfolk. According to Salix, the whole river is a Site of Special Scientific Interest (SSSI) and in recent years, the […]

  • Transocean adds $297 million to backlog as Petrobras extends two drillships

    19 November 2020
    Business & Finance, Business Developments & Projects, Exploration & Production, Project & Tenders

    Transocean has been awarded contract extensions for two of its drillships that have been working for Petrobras.

  • Seadrill scores extension for West Vela drillship from BP

    16 October 2020
    Business & Finance, Business Developments & Projects

    Oil major BP has awarded a new contract for Seadrill Partners’ West Vela drillship for work in the U.S. part of the Gulf of Mexico.

  • EnergyQuest: December 2020 Australian LNG exports up

    19 January 2021
    Business & Finance, Business Developments & Projects

    Australian energy consultancy EnergyQuest expects the country’s LNG exports to jump after a strong performance in December.

  • New 910-day gig for Transocean’s ultra-deepwater drillship

    1 February 2023
    Business & Finance, Business Developments & Projects, Exploration & Production, Project & Tenders

    Offshore drilling contractor Transocean has won a long-term deal for one of its ultra-deepwater drillships offshore Brazil.

  • Fincantieri points to Q3 production recovery in an unprecedented year

    13 November 2020
    Business & Finance

    Italian shipbuilder Fincantieri reported a 16% drop in revenues for the first nine months of 2020 reaching €3.53 billion, considerably impacted by the Covid-19 outbreak. The shipbuilder’s EBITDA stood at €200 million, down from €306 million reported in the same period in 2019, with an EBITDA margin of 5.7%, up from 5.0% first-semester margin (7.3% […]

  • NYK Line hands over new LNG carrier to TotalEnergies

    21 October 2021
    Vessels

    Japanese shipping major NYK Line has delivered the liquefied natural gas (LNG) carrier LNG Endeavour to French energy giant TotalEnergies.

  • Single-fuel or dual-fuel methanol engines for tugs?

    22 May 2023
    Green Marine, Vessels

    Single-fuel methanol engines may hold the key to a greener future for tugs, marine propulsion systems manufacturer Rolls-Royce Power Solutions (RRPS) and Maersk’s towage operator Svitzer said in a joint paper. The main driver behind the development of dual-fuel engines is fuel flexibility, allowing vessels to operate even with limited methanol availability. However, such engines […]

  • Covid-19 crisis setting the stage for restructuring of offshore drilling market

    16 June 2020
    Business & Finance, Business Developments & Projects, Exploration & Production, Market Outlooks, Outlook & Strategy

    There is a case to be made that the coronavirus crisis has been setting the stage for the restructuring of the offshore drilling market.

  • Odfjell rig starts Equinor gig

    1 February 2022
    Business & Finance, Business Developments & Projects, Exploration & Production, Project & Tenders

    An Odfjell Drilling-owned semi-submersible rig has started its contract with Equinor, making it the third Odfjell rig to work for Equinor.

  • WWF Welcomes Palaszczuk’s Commitment to Ban Dumping

    21 January 2015
    Business & Finance

    WWF-Australia yesterday welcomed Queensland Opposition Leader Annastacia Palaszczuk’s comprehensive and ground-breaking policy package to tackle the decline of the Great Barrier Reef. In particular, WWF said the new commitments to protect the Fitzroy Delta near Rockhampton and to prevent the dumping of dredge spoil on the fragile Caley Valley wetlands at Abbot Point, were a positive […]

  • Commercialization deal signed for first-ever wireless underwater ROV

    13 September 2022
    Business & Finance, Business Developments & Projects, Equipment, Innovation, Outlook & Strategy, Technology

    Swiss underwater robotics company Hydromea and Scotland’s remote technology specialist Air Control Entech (ACE) have entered into a service partnership agreement to commercialize what is said to be the world’s first wireless remotely operated underwater vehicle (ROV) for inspections at offshore floating platforms. Under the deal, ACE will promote and use Hydromea’s EXRAY wireless ROV […]

  • Transocean adds more work to backlog, retires Leiv Eiriksson rig

    15 February 2021
    Business & Finance, Business Developments & Projects, Exploration & Production, Project & Tenders

    Transocean has secured new contracts for its fleet, bringing the total backlog to $7.8 billion, but it has also decided to retire the Leiv Eiriksson.

  • SHI reveals new LNG carriers and containerships designs

    19 May 2023
    Business Developments & Projects, Collaboration, Innovation, Outlook & Strategy, Technology, Vessels

    South Korea’s shipbuilder Samsung Heavy Industries (SHI) has announced the development of innovative LNG carriers and containerships during the “Samsung Technical Seminar in Athens” (Samsung Technology Road Show) in Athens, Greece. The company unveiled its “3 Cargo Tank LNGC” and “Eco Container Ship” products. SHI said the “3 Cargo Tank LNGC” is designed to increase […]

  • Boskalis Successfully Completes USD 450 million Inaugural US Private Placement

    23 July 2010
    Business & Finance

    Royal Boskalis Westminster N.V. has successfully closed an inaugural USD 450 million US Private Placement Notes program with 26 institutional investors in the United States and United Kingdom. The significantly oversubscribed program consists of three tranches with maturities of 7, 10 and 12 years and was issued in both US dollars and Sterling. The US […]