Search results for: race bank

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• Red Sea crisis escalation: US-UK airstrikes, Houthis’ vessel attacks, spike in oil prices, and tanker trade slowdown

  

  14 January 2024

  Authorities & Government, Business & Finance, Business Developments & Projects, Collaboration, Environment, Exploration & Production, Market Outlooks, Safety, Vessels

  Recent events in the Red Sea have added fuel to the growing fears about the possibility of a wider conflict breaking out across the Middle East, prompting further concerns over oil flows, supply chains, and energy prices in the region and beyond.

• TGE Marine to provide cargo handling system for Northern Lights’ LCO2 carrier

  

  4 October 2023

  Business Developments & Projects, Equipment, Project & Tenders, Vessels

  German equipment provider TGE Marine has received a contract from the Chinese shipyard Dalian Shipbuilding Industry Offshore Co. (DSOC) for the design and supply of a cargo handling system for Northern Lights’ LCO2 Carrier.

• Interview: Almost every ocean-going ship type can become a CO2 carrier

  

  21 November 2023

  Business Developments & Projects, Carbon Capture Usage & Storage, Green Marine, Outlook & Strategy, Regulation & Policy, Transition, Vessels

  In the ever-evolving landscape of maritime innovation, one topic has emerged as a beacon of change and promise – carbon capture in shipping. As global efforts to decarbonize intensify, the role of CO2 capture, liquefaction, and transport is expected to grow in importance, especially in line with the anticipated demand surge. CO2 transport serves as […]

• IMO makes ‘insufficient progress’ on slashing black carbon emissions from Arctic shipping

  

  27 February 2024

  Authorities & Government, Regulation & Policy, Rules & Regulation

  The International Maritime Organization (IMO) has agreed new guidance on best practices for cutting black carbon emissions from ships operating in or near the Arctic.

• SRC Group gets LR’s approval for retrofit methanol storage solution

  

  3 October 2023

  Certification & Classification, Equipment, Regulation & Policy, Storage, Technology

  Global solution provider SRC Group has received Approval in Principle (AiP) from Lloyd’s Register (LR) for Methanol Superstorage, a new and space-efficient retrofit methanol storage solution.

• With new orders of €13 billion in the bag, Prysmian pinpoints energy transition and electrification as growth drivers

  

  10 November 2023

  Business & Finance, Business Developments & Projects, Market Outlooks, Outlook & Strategy, Project & Tenders, Transition, Vessels

  Prysmian Group has revealed strong results for the first nine months of 2023, with new orders year-to-date amounting to approximately €13 billion.

• WEF: MOL, Maersk showing readiness to procure green fuels but price gap remains main barrier to decarbonization

  

  11 December 2023

  Infrastructure, Market Outlooks, Outlook & Strategy, Transition

  On the margins of COP28, shipping companies Mitsui O.S.K. Lines (MOL) and Maersk are actively sending a signal of readiness to procure green fuels and drive economies of scale.

• Shell joins BP and numerous shipping giants in putting all Red Sea shipments on ice as vessel attacks escalate

  

  17 January 2024

  Business & Finance, Business Developments & Projects, Safety, Vessels

  Shell is the latest firm in a long line of companies, which decided to steer clear of the Red Sea shipping route in response to rising Houthi vessel attacks.

• Maersk’s security team fires back on Houthi in Red Sea, thwarts boarding, prompting another operational pause

  

  31 December 2023

  Business Developments & Projects, Green Marine, Regulation & Policy, Safety, Vessels

  Just days after announcing its gradual return to the Red Sea, global cargo shipping giant Maersk finds itself at the center of escalating tensions as its vessel, the Maersk Hangzhou, becomes the target of a missile and small boat swarm by Yemen’s Houthi Group. The assault occurred approximately 55 nautical miles southwest of Al Hodeidah, […]

• Maersk, MSC and other liner majors suspend Red Sea runs amid escalating attacks

  

  18 December 2023

  Business Developments & Projects, Green Marine, Market Outlooks, Outlook & Strategy, Vessels

  Leading liner companies, including industry giants Maersk, MSC, CMA CGM, HMM, and OOCL, have suspended trading on their Red Sea trade routes. This decision comes in response to a series of targeted attacks on merchant ships operating in the region, raising alarms within the global shipping community. The Red Sea, a critical maritime route connecting […]

• ExxonMobil, Chevron set sights on more oil & gas along with low-carbon and new energies

  

  7 December 2023

  Business & Finance, Business Developments & Projects, Carbon Capture Usage & Storage, Exploration & Production, Outlook & Strategy, Project & Tenders, Transition

  ExxonMobil and Chevron have disclosed their capital investment expectations, encompassing oil and gas plays along with emission-reduction solutions.

• Bunkering ammonia not so dangerous after all?

  

  27 September 2023

  Authorities & Government, Business Developments & Projects, Certification & Classification, Green Marine, Infrastructure, Innovation, Outlook & Strategy, Regulation & Policy, Research & Development, Transition, Vessels

  Safety concerns surrounding ammonia bunkering and the design of ammonia-bunkering vessels are in the spotlight as the maritime industry explores ammonia as a potential green fuel. Despite ammonia’s well-known toxicity, it has been successfully transported as cargo on LPG ships in recent years. Now, the industry is eyeing the development of dedicated ammonia bunkering vessels. […]

• Buffeted by market volatility, Shell’s profit slumps but overall performance remains ‘strong’

  

  2 November 2023

  Business & Finance, Business Developments & Projects, Exploration & Production, Market Outlooks, Project & Tenders

  Shell has joined its peers in posting solid operating and financial performance for the third quarter of 2023.

• Will a net-zero dash enable the UK to reap more benefits?

  

  10 October 2023

  Authorities & Government, Business & Finance, Business Developments & Projects, Environment, Exploration & Production, Outlook & Strategy, Project & Tenders, Regulation & Policy, Transition

  New poll shows the majority of British people are in favor of hastening the UK’s net-zero aspirations, thus, more green policies are seen as a safe bet for winning incoming elections.

• Chariot passes the operatorship baton to Energean to unlock Moroccan offshore assets’ gas potential

  

  7 December 2023

  Business & Finance, Business Developments & Projects, Exploration & Production, Project & Tenders

  Energean will take over the operatorship helm at two Moroccan offshore licenses from Africa-focused energy company Chariot.

• AEC: African LNG sector will undergo geographical shift

  

  4 October 2023

  Business Developments & Projects, Market Outlooks, Outlook & Strategy

  African Energy Chamber (AEC), an energy advocacy group, has released its new quarterly market-focused report, providing outlook and key insight into the continent’s LNG trends and showing that the African gas sector’s center of gravity is undergoing a geographical shift. Over the last few years, the global LNG industry has faced a series of challenges and […]

• Princess Royal unveils £420 million Aberdeen Port expansion

  

  25 September 2023

  Business & Finance, Business Developments & Projects, Green Marine, Infrastructure, Market Outlooks, Outlook & Strategy, Ports & Logistics, Transition

  The Port of Aberdeen, the UK’s oldest business, now boasts the country’s newest harbor, signaling a vibrant future for energy, trade, and tourism in Scotland’s journey towards net zero emissions. Namely, the port’s £420 million (USD 514 million) expansion project was officially inaugurated on Friday, September 22. The expansion of the Aberdeen South Harbour has […]

• Hybrid interconnector projects in North Sea and Baltic Sea beef up Europe’s green energy ties

  

  30 November 2023

  Authorities & Government, Business & Finance, Business Developments & Projects, Environment, Project & Tenders, Regulation & Policy, Rules & Regulation

  Three hybrid interconnector projects in the North Sea and Baltic Sea are among the proposed cross-border energy infrastructure projects, which underpin the EU’s climate and net zero drive.

• Australia’s energy future and natural gas: Will turning off the taps see greener sources rise to meet supply & demand void?

  

  16 November 2023

  Authorities & Government, Business & Finance, Business Developments & Projects, Carbon Capture Usage & Storage, Collaboration, Environment, Exploration & Production, Project & Tenders, Regulation & Policy, Rules & Regulation, Transition

  Natural gas, especially LNG, is touted as the linchpin of the energy future not just in Australia but also across the globe.

• With $28 billion in the bag, Shell’s 2023 profit attests to oil & gas price slump and LNG trading upturn

  

  1 February 2024

  Business & Finance, Business Developments & Projects, Environment, Exploration & Production, Transition

  Shell’s annual profit in 2023 took a tumble, dropping by 30% on a year-over-year basis, compared to its highest-ever annual profit, which came to almost $40 billion in 2022.

• ENCORE project reaches conclusion with four offshore renewable technology demos under its belt

  

  10 October 2023

  Authorities & Government, Business Developments & Projects, Collaboration, Equipment, Innovation, Market Outlooks, Outlook & Strategy, Project & Tenders, Regulation & Policy, Research & Development, Technology, Transition, Vision

  The Interreg 2 Seas-funded ENCORE project has reached its formal closure after three years, having ‘successfully propelled’ four innovative tidal energy, offshore solar and wave energy technology solutions.

• Peninsula secures biofuel deal with COSCO Shipping

  

  3 October 2023

  Business Developments & Projects, Storage, Vessels

  Global independent marine energy supplier Peninsula has fixed its first biofuel deal for Shanghai-based shipowner COSCO Shipping Lines.

• Castrol: Will hydraulic systems bridge shift to all-electric subsea oil & gas production?

  

  9 January 2024

  Business & Finance, Business Developments & Projects, Equipment, Exploration & Production, Market Outlooks, Technology, Transition

  Castrol, part of the BP group, has provided its take on whether hydraulic systems will be thrown out with the all-electric subsea production bathwater.

• With Red Sea ensnared in security woes, ten nations come together to untangle it, after BP pumps the brakes on oil & gas trade

  

  19 December 2023

  Authorities & Government, Business & Finance, Business Developments & Projects, Exploration & Production, Market Outlooks, Project & Tenders, Regulation & Policy, Safety, Vessels

  While Yemen’s Huthis intensify their attacks on vessels in the Red Sea, multiple nations bond together to tackle these security concerns.

• With Labour’s windfall tax plan seen as ‘hammer blow’ to UK’s energy security and decarbonization, concerns over job loss on the rise

  

  20 February 2024

  Authorities & Government, Business & Finance, Business Developments & Projects, Exploration & Production, Human Capital, Outlook & Strategy, Project & Tenders, Regulation & Policy, Transition

  The dust has not settled yet over the Labour Party’s proposals to extend the windfall tax on UK oil and gas producers,