Business Developments & Projects
Ulstein CEO to take the helm at Vard
Norwegian ship designer and shipbuilder Vard, part of Fincantieri, has appointed the current chief executive officer (CEO) of compatriot shipbuilder and designer Ulstein Group as its new CEO. Cathrine Kristiseter Marti, who will take over as the new CEO of Vard starting June 1, 2024, comes from the
First gas supplies from TotalEnergies’ mega North Sea project reach Denmark
The first gas supplies exported by the Tyra hub have reached the onshore facilities in Nybro, Denmark, to be distributed to the consumers.
‘Groundbreaking’ wind propulsion pact signed in France to decarbonize maritime sector
The French government and maritime stakeholders have signed a ‘groundbreaking’ pact for wind-assisted ship propulsion, a promising technology that has the potential to decarbonize the shipping industry.
Yara Clean Ammonia appoints new CEO to spearhead ‘rapidly growing’ business
Oslo-headquartered Yara Clean Ammonia has appointed Hans Olav Raen as the new Chief Executive Officer (CEO), effective May 1, 2024.
Eco Wave Power’s ‘significant milestones’ keep optimism for future energy project opportunities alive
Eco Wave Power is among the companies that felt the impact of the unpredictability surrounding the economy in 2023.
Dana Petroleum joins Shell and Deltic as partner in North Sea asset
Deltic Energy has wrapped up the sale of a partial stake in a Shell-operated license, containing a prospect, which will be drilled this summer.
Deal signed for new hydrogen industry cluster in South Korea
South Korean province Jeollanam-do has signed an investment memorandum of understanding (MoU) with five companies to create a hydrogen industry cluster in Myodo, Yeosu.
ABS gives ‘industry 1st’ approval to ECOLOG for operation of LCO2 carriers
Classification society the American Bureau of Shipping (ABS) has awarded ECOLOG, a Greek mid-stream carbon capture, utilization and sequestration (CCUS) service provider, with an industry first ISM Document of Compliance for the operation of liquified CO2 carriers on behalf of the Bermuda flag admin
Pursuit of appeal for arbitration ruling regarding two canceled drillships hits a wall
Northern Drilling is contemplating its next steps after its attempts to appeal the court’s arbitration ruling related to canceled orders for two drillships with a South Korean shipbuilder came to naught.
KfW IPEX-Bank funds C. Armateurs’ eco-friendly bulkers
Germany’s KfW IPEX-Bank has decided to support the fleet modernization of Switzerland-based shipping group C. Armateurs, part of the Cobelfret group, with a financing of €42 million.
Asso.subsea completes cable work at Croatian interconnector (Gallery)
Asso.subsea has completed the installation of approximately 30 kilometers of cables for the Adriatic Sea Islands Interconnection in Croatia, reaching depths of 70 meters. Asso.subsea transported and installed four distinct 110 kV cable systems, with the northern part connecting the landing sites Mal
New Japan-UK partnership eyes green hydrogen and derivatives projects
J-POWER and Yamna have signed an agreement for the joint development and investment in green hydrogen and derivatives projects globally.
European policymakers urged to adopt robust low-carbon hydrogen definition
Industry players and NGOs issued a joint letter calling on European policymakers to adopt a robust definition for low-carbon hydrogen.
Petoro awards AGR frame agreement for suite of services
Norwegian state-owned firm Petoro has awarded AGR, part of ABL Group, with a frame agreement for the supply of independent consultancy and third-party verification studies across subsurface, drilling, and wells and field development. Petoro manages a direct financial stake in Norway’s oil and gas in