Business Developments & Projects
Siem vessel to work for PXGEO after completing class renewal
Norwegian shipping company Siem Offshore has entered into a contract with marine geophysical service provider PXGEO for the charter of an offshore subsea construction vessel (OSCV). The OSCV Siem Spearfish will be engaged within the marine geophysical segment and support the charterer’s operations w
Mariparks and multiuse to support sustainability efforts on North Sea
According to Erwin Coolen, Director of ECHT, we need Mariparks, which are offshore business areas, and multiuse to reach energy, food and nature transitions that are ongoing on the North Sea. Together with Nathalie Scheidegger, Project Leader Sustainable Blue Economy, Netherlands’ Ministry of Agricu
Two oil & gas firms book DOF vessels for long-term gigs in Norway and Australia
DOF Group has won two long-term assignments for an AHTS vessel and a platform supply vessel (PSV) in Norway and Australia, respectively.
With $28 billion in the bag, Shell’s 2023 profit attests to oil & gas price slump and LNG trading upturn
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.
Zero Emission Shipping Fund proposal put on the table for IMO. Will it accelerate shipping’s journey to net zero?
The International Chamber of Shipping (ICS), the Commonwealth of The Bahamas, and the Republic of Liberia have submitted a detailed, fit-for-purpose proposal to shipping’s global regulator, the International Maritime Organization (IMO) for a Zero Emission Shipping Fund (ZESF).
Substation construction for Morlais tidal energy project wraps up
The construction of the £24 million substation for the Morlais tidal stream energy project has been completed and the substation has been delivered to site owner Menter Môn Morlais. Civil engineering firm Jones Bros has handed over the substation to Menter Môn Morlais in a move said to signal the su
TECO 2030 and Umoe Mandal seek AiP for fuel cell high-speed vessel design
Norwegian cleantech company TECO 2030 and compatriot shipbuilder Umoe Mandal have submitted an approval in principle (AiP) application to the Norwegian Maritime Authority for the world’s first fuel cell high-speed vessel design. As disclosed, the vessel will be constructed based on Umoe Mandal’s cre
Fred. Olsen 1848’s floating solar pilot makes a splash
Oslo-headquartered Fred. Olsen 1848 has deployed its pilot floating solar project at sea in Norway, with commissioning scheduled for spring. Fred. Olsen 1848 sees the 50×50 meter, 124 kW pilot project in Risør as a testing ground for refining the components of its floating PV technology. The next s
LR: Fleet utilization, routing can help shipowners better navigate new EU regulations
Deploying fleets efficiently along specific routes, combined with educated fuel and technology choices will be crucial for navigating new EU regulations, according to a new Lloyd’s Register report.
NGO Shipbreaking demands EU action on ship recycling amid stark reality of 2023 figures
The NGO Shipbreaking Platform is calling for the extension of the EU Ship Recycling Regulation to include ownership in addition to the flag, after releasing the latest figures on global shipbreaking practices for 2023. The data from the platform shows that out of the 446 ocean-going commercial ships
Uniper advances renewable electrofuel project in Sweden
German energy group Uniper has signed an agreement with Swedish power company Jämtkraft to secure access to land and electricity grid connection for its sustainable electrofuel project NorthStarH2 in Östersund, Sweden. The aim of this project is to produce e-methanol from renewable hydrogen and capt
Eni and Vår Energi enrich their portfolios by taking over Neptune’s oil & gas business
Eni and its majority-owned Vår Energi have expanded their footprint by wrapping up the acquisition of Neptune Energy’s oil and gas assets.
Hafnia Bunker Alliance progresses with sustainable biofuel bunkering
Hafnia Bunkers has announced its steps forward in advancing sustainable marine fuel solutions through its strategic collaboration via the Hafnia Bunker Alliance with member Unigas, and GoodFuels supplier FincoEnergies – a collaboration revolutionizing the way vessels are being fueled.
Lhyfe breaks ground for new 10MW hydrogen plant in Germany
French company Lhyfe has started construction work for its new hydrogen production plant in Brake on the site located on land in the harbor area of Niedersachsen Ports (NPorts), Germany’s largest public seaport operator. The groundbreaking ceremony for the production facility is taking place today,