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Italy targets 1 GW of offshore solar within five years

Business Developments & Projects

Italy could install 1 GW of offshore solar in next five years, report says

Italy could install up to 1 GW of offshore solar capacity in the next five years, enough to supply electricity to around half a million households annually, according to estimates of a new position paper by the Italian Association of Offshore Renewable Energy (AERO). Unveiled by SolarinBlue, the rep

about 1 year ago

Business Developments & Projects

Provaris moving full steam ahead with hydrogen and CO2 programs in Norway

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Green hydrogen projects developer Provaris Energy has provided new updates on commercial and technical developments in its hydrogen and CO2 storage and transport programs in Norway.

about 1 year ago

Business Developments & Projects

First Odfjell tanker gets 4 suction sails as it readies to cross Atlantic

Norwegian shipping company Odfjell has completed the first installation of a wind-assisted propulsion system (WAPS) on one of its vessels, the 49,000 dwt chemical tanker Bow Olympus.

about 1 year ago

Business Developments & Projects

Samsung E&A acquires stake in Nel and signs collaboration agreement

Samsung E&A has acquired a 9.1% stake in Nel ASA for approximately $33 million and signed a strategic partnership agreement.

about 1 year ago

Selene prospect was drilled with the Valaris 123 jack-up rig; Source: Valaris

Business Developments & Projects

Shell’s North Sea gas discovery ‘commercially robust’ with FID on the cards for 2027

Shell is eyeing a field development plan (FDP) and a final investment decision (FID) in 2027 for its recent natural gas discovery in the North Sea, which is situated on the UK Continental Shelf (UKCS).

about 1 year ago

Cargo vessel crashed into MV Stena Immaculate oil tanker off the coast of the UK; Source: Greenpeace UK

Business Developments & Projects

With fire ‘greatly diminished,’ probe into oil tanker–cargo ship North Sea allision ongoing

A collision between a U.S.-flagged oil/product tanker and a Portuguese container ship in the North Sea, north of England, put both vessels on fire, which has since been brought under control.

about 1 year ago

Deepsea Atlantic rig; Source: Odfjell Drilling

Business Developments & Projects

North Sea wildcat pair on Odfjell rig’s drilling agenda for April

Equinor has secured a drilling permit for two exploration wells in the North Sea off the coast of Norway, which are slated to be drilled next month using a semi-submersible rig owned by Odfjell Drilling.

about 1 year ago

Business Developments & Projects

Delays in plug & abandonment work may put $5.5 billion on UK decom tab

With investor confidence taking a hit in the aftermath of political and fiscal woes, hydrocarbon exploration in a slump, and supply chain costs likely to rise, a postponement of plug and abandonment (P&A) assignments could hike the UK’s decommissioning bill by $5.5 billion.

about 1 year ago

Business Developments & Projects

Metacon, Pherousa: Ammonia cracking tech greenlit by DNV, ABS

Metacon, a Swedish manufacturer of energy systems, has, through its shareholding in Norwegian technology transfer company Pherousa, received two initial approvals in principle (AiP) for its ammonia cracking technology for use onboard ships.

about 1 year ago

Business Developments & Projects

GCL, SEKAVIN partner up on future-ready marine fuel supply

Global Chartering Limited (GCL), a joint venture between Luxembourg-based steelmaker Arcelor Mittal and Greek shipping company DryLog, has formed a strategic partnership with Greece-based bunker supplier SEKAVIN to strengthen marine fuel supply and logistics.

about 1 year ago

Business Developments & Projects

MOL to acquire Dutch tank terminal operator in $1.7B deal

Japan’s shipping heavyweight Mitsui O.S.K. Lines (MOL) is set to purchase LBC Tank Terminals, a Dutch tank terminal operator focused on handling and storing chemical cargo in Europe and the US, in a deal worth a whopping $1.7 billion. As disclosed, the deal was signed on March 7, 2025, and is now pe

about 1 year ago

Business Developments & Projects

Hull for Japan-bound hybrid cable lay & construction vessel coming together in Romania (Video)

The aft part of the highly customized hybrid power cable lay and construction vessel that VARD is building for the Japanese offshore wind market has arrived at the company’s Tulcea shipyard where it will be joined with the forward parts of the hull. The Norwegian ship designer and shipbuilder held t

about 1 year ago

Despite Turkish interference: Greece still committed to subsea power link to Cyprus

Business Developments & Projects

Despite Turkish interference: Greece stays committed to subsea power link to Cyprus

Greece has reaffirmed its commitment to constructing a subsea power link to Cyprus following reports that the project was halted over financial and geopolitical concerns, Reuters reported. The 1,240-kilometer Great Sea Interconnector, previously known as the EuroAsia Interconnector, is envisioned to

about 1 year ago

Business Developments & Projects

Chantiers de l’Atlantique collaborates with NAPA to flesh out digital shipyard vision

French shipbuilder Chantiers de l’Atlantique has entered a collaborative agreement with Finnish maritime software provider NAPA to enhance the efficiency of its hull design process by co-developing advanced 3D software and digital workflows.

about 1 year ago