The path toward decarbonization of the shipping industry in line with the IMO 2050 target – a reduction of 50% by 2050 compared to 2008, which still fails to deliver fully on the Paris Agreement objectives, is filled with uncertainty, which might be the main obstacle to the very vision this journey
Cortez Subsea has secured a five-year deal to provide a subsea inspection management system (SIMS) offshore Malaysia. Specifically, the contract is with Repsol Oil and Gas in Malaysia, and it is worth a six-figure sum. To this end, Cortez will utilise its base in Kuala Lumpur and team up with sister
Container shipping companies’ fight to maintain freight rates high through capacity management seems to have paid off, beating forecasts on carrier profitability. The liners’ ability to adapt to the new normal through a disciplined approach to the deployment of ships comes as a surprise as dwindling
Keppel has started an arbitration process to resolve a dispute with Awilco Drilling related to a termination of a rig construction contract.
Robotic arm systems (underwater manipulators) are being used in the offshore industries, especially in executing subsea intervention operations. Robotic arms can be mounted on remotely operated vehicles (ROVs), unmanned underwater vehicles (UUVs) and in some cases on autonomous underwater vehicles (
OPEC’s Joint Ministerial Monitoring Committee (JMMC) has made assurances of achieving 100 per cent conformity from all participating countries during the next three months.
In June 2020, Myanmar became the newest country to begin imports of liquefied natural gas (LNG).
The Covid-19-caused downturn is set to cause a 25 per cent yearly drop in global demand for oilfield services (OFS), a Rystad Energy analysis shows.
Heerema Marine Contractors’ (HMC) heavy lift vessel Aegir has experienced a dropfall incident off the coast of Taiwan. The incident occurred on 15 June at 16:42 local time. No one was injured and no environmental impact was reported, only the piling frame and pin pile suffered minimal damage, Heerem
The number of seafarers pending their sign-off at sea is increasing by the day as the industry awaits flag and port states to lift Covid-19 related travel restrictions and enable the unsung heroes of the sea to finally go home. The debate is heating up as unions vow to take matters into their own ha
In its global energy outlook, Rystad Energy revealed that the Covid-19 downturn will expedite peak oil demand, putting a lid on exploration efforts in remote offshore areas and as a result reducing the world’s recoverable oil by around 282 billion barrels.
The massive consolidation drive in the container shipping market that dominated the narrative over the past four years seems to have brought about unexpected benefits during the coronavirus crisis. The driving force behind the phenomenon has been primarily achieving economies of scale, especially co
