Business Developments & Projects
Vår Energi getting ready to spud North Sea wildcat
Vår Energi has secured a drilling permit to drill a wildcat well in the North Sea, using one of the Odfjell Drilling-managed semi-sub rigs.
Floating solar market will be as big as onshore solar sector, says Oceans of Energy CEO
The industry needs to start shifting its focus from wind farms to energy farms as we have limited space which we need to make use of in an efficient way. A synergy of offshore wind and floating solar is the way to go. “If you only fill 20% of wind farm space with floating solar, […]
VARD to build NKT’s new cable-laying vessel
Denmark-based power cable manufacturer and installation company NKT has placed an order with Norway’s VARD for the construction of its new cable-laying vessel (CLV). In May 2023, on the back of a record order backlog and the strong market outlook, NKT announced investments in a new high-voltage fact
Clarksons forecasts 40 million CGT output for 2024-2025 after record year for car carriers
As the maritime industry charts a course for robust growth, Clarksons Shipbroking foresees a substantial increase in global shipbuilding activities, primarily driven by the growth in South Korean output. Clarksons’ estimations project a noteworthy 40 million compensated gross tonnage (CGT) output fo
United Heavy Transport, Dongbang forge strategic alliance
Germany’s maritime transport provider United Heavy Transport and South Korean transportation firm Dongbang Transport Logistics have joined forces in a new strategic alliance combining their respective strengths.
N-Sea charters fuel-efficient vessel in move to strengthen subsea offering
The Netherlands-headquartered N-Sea has chartered a hybrid, fuel-efficient survey and remotely operated vehicle (ROV) support vessel in a push to strengthen its offshore subsea activities. N-Sea Group entered into an agreement with Geo Plus to long-term charter the Dutch-flagged vessel Geo Ranger, w
Saverys says investing in future-proof ships makes sense now, reveals a pipeline of 120 hydrogen and ammonia-powered ships
Belgian owner of marine and industrial applications CMB.TECH plans to add approximately 120 hydrogen and ammonia-powered vessels to its fleet and has five hydrogen infrastructure projects worldwide in the pipeline, Alexander Saverys, the company’s chief executive, revealed in a capital markets day p
Columbia Group forms venture capital arm to foster innovation
Columbia Group, a Cyprus-based maritime integrated services platform, has formed a new venture capital entity that will act as a ‘melting pot’ for innovation.
H2 Energy Europe gets green light for 1 GW green hydrogen plant in Denmark
H2 Energy Europe, a builder of hydrogen ecosystems in Europe, has obtained environmental approval for its large-scale green hydrogen production facility in Esbjerg, Denmark. The approval issued for the facility, which will have a 1 GW electrolysis capacity, is said to be a significant milestone, bri
Frontline sells non-eco ships to have entire fleet fuel-efficient
Norwegian tanker major Frontline has agreed to sell its five oldest very large crude carriers (VLCCs), aligning with the company’s strategy of having only eco-friendly vessels in its fleet.
Red Sea crisis escalation: US-UK airstrikes, Houthis’ vessel attacks, spike in oil prices, and tanker trade slowdown
Recent events in the Red Sea have added fuel to the growing fears about the possibility of a wider conflict breaking out across the Middle East, prompting further concerns over oil flows, supply chains, and energy prices in the region and beyond.
MAN ES to supply 48 dual-fuel engines to Karpowership
Engine powerhouse MAN Energy Solutions has signed a contract with Turkish powership builder and owner Karpowership for the delivery of a total of 48 dual-fuel engines for Karpowership’s fleet of power plant ships. The engine order consists of MAN 18V51/60DF dual-fuel engines with a mechanical output
Prep begins for Scottish subsea link’s converter station construction
Enabling work has started in Peterhead for the proposed converter station for the Eastern Green Link 2 (EGL2) subsea electricity superhighway between Scotland and England. The joint venture project between SSEN Transmission and National Grid Electricity Transmission will see around 440 kilometers of
Danish PtX equipment manufacturer expands activities globally
Danish Eltronic PtX, a manufacturer of equipment for the Power-to-X (PtX) industry, established in early 2023, is broadening activities in Denmark and the United States (U.S.). A new 3000 square meter facility is currently being planned at Eltronic’s headquarters in Denmark, with the company also pl