The global market for oil and gas contractors is expected to rise to a peak of $1 trillion in 2025 and remain at high levels for several years, according to a report by energy intelligence group Rystad Energy. For the 2022-2028 period, overall oil and gas spending is anticipated to stay above $920 b
Boskalis has won a contract from the Ministry of National Planning, Housing and Infrastructure of the Republic of the Maldives related to the further development of Gulhifalhu – including climate adaptive measures for the island. The contract carries a value of approximately EUR 120 million. This pr
Russian LNG producer Sakhalin Energy has surpassed its 2022 targets, producing about 11.5 million tonnes of LNG and 3.7 million tonnes of Sakhalin blend oil. According to the company, all products were delivered to the buyers on time in full compliance with the SPA terms. The major LNG markets inclu
A group of eight marine insurers has released the first Annual Disclosure Report for Poseidon Principles for Marine Insurance, disclosing the climate alignment of their hull and machinery portfolios. The report surveys the portfolios of the framework’s signatories in what has been described as a ‘la
UK-headquartered NDT inspections specialist TSC Subsea has revealed plans to expand to new markets in the Middle East, Africa and South East Asia. The strategic growth plans are said to follow on from one of TSC Subsea’s most successful years to date in which the company established new bases in Bra
Swiss-based container shipping giant MSC has the largest orderbook by far in the industry with 124 containerships on order. Namely, MSC has 14 megamax ships and 22 neo-panamax ships on order scheduled for delivery in 2023, according to Alphaliner. The orders are spread between Chinese and South Kore
India has become the largest seaborne importer of Russian crude in the wake of the EU ban on seaborne oil imports and subsequent G7 price cap for exports. Exports to India increased from virtually nothing prior to Russia’s invasion of Ukraine to 1.2 Mb/d in November last year, according to Poten & P
The world’s business and political leaders gathered this week for the World Economic Forum’s annual event in Davos to discuss global challenges and the way forward. The topic of the weeklong event is ‘Cooperation in a Fragmented World’, highlighting the need to work together to overcome the perfect
ACWA Power, a Saudi developer, investor, and operator of power generation, water desalination, and green hydrogen plants worldwide, Uzbekistan’s Ministry of Energy, and Uzkimyosanoat, an Uzbekistan-owned chemical company, have signed extensive heads of terms agreements to develop a green hydrogen fa
Ports around the world are ramping up their efforts to develop LNG bunkering infrastructure as demand for LNG-fuelled ships hits new highs. Over the past year, 44 global ports have joined the club of global ports able to provide LNG bunkering. Namely, according to the data from Clarksons, in January
Netherlands-headquartered Fugro has secured a contract with Petronas Carigali Brunei to perform surveys at a deepwater gas field development offshore Brunei. Fugro will deliver various site characterization surveys to support the front-end engineering design for offshore production facilities and th
Some 78% of industry professionals agree that change and technological innovation are positive things for the maritime industry, according to a report by Wärtsilä Corporation. However, almost half (45%) admit to having a volatile attitude towards technology and over a third (36%) say they are active
