Business Developments & Projects
Liquid Wind sets plan in motion for its first eMethanol plant in Finland
Swedish electrofuel developer Liquid Wind has formed a partnership with Finnish companies Kanteleen Voima and Piipsan Tuulivoima to prepare a feasibility study for setting up its first facility for producing eMethanol in Haapavesi, Finland. On 12 December, the parties announced the signing of a lett
Fresh gas discovery and appraisal activity put potential tie-back to North Sea platform on the table
Neptune Energy has revealed a new gas discovery at an offshore prospect and confirmed the volumes for an appraisal well in the North Sea.
Star Bulk and Eagle join forces to create dry bulk shipping powerhouse
Nasdaq-listed dry bulk shipping company Star Bulk Carriers and Eagle Bulk Shipping, one of the world’s largest owner-operators within the midsize dry bulk vessel segment, revealed their intent to merge through an all-stock agreement. The merger is expected to create a dry bulk shipping powerhouse wi
Cable-lay equipment ordered for new Nexans vessel
Italian company Remacut, part of NOV, has won a contract with Nexans to deliver the cable-lay equipment for the company’s new cable-lay vessel (CLV). Building on its predecessor, the CLV Nexans Aurora, the newly constructed vessel will incorporate a 3,500-ton underdeck carousel to complement the 10,
Keel laid for Princess Cruises’ new LNG-fueled ship
Italian shipbuilder Fincantieri has celebrated the beginning of construction of the second LNG-powered Sphere Class cruise ship ordered by the US-based cruise line Princess Cruises, part of Carnival Corporation. The keel laying ceremony for the Star Princess took place in Monfalcone, Italy, on Decem
COP28: Will a magic wand sweep away oil, gas, and LNG in favor of green agenda?
As a battle over fossil fuel language continues to rage, the pressure is not letting up on demands to phase out fossil fuels.
Hy24’s Clean Hydrogen Equipment Fund wins Dutch bank’s support
Dutch bank ABN AMRO is investing in the Clean Hydrogen Equipment Fund, managed by Hy24, a clean hydrogen investment fund committed to scaling up the global hydrogen economy. This is said to be the second climate-related fund investment taken on by ABN AMRO Corporate Investments and fits with the ban
Microsoft to back Northern Lights CCS project
The Northern Lights Joint Venture and SLB have signed a memorandum of understanding (MoU) with Microsoft to optimize integrated cloud-based workflows for the operation of Northern Lights, one of the first CO2 transport and storage providers for cross-border carbon capture and storage (CCS). In the i
EU ETS will cost the shipping industry billions, says ITIC
The cost of the European Union’s (EU) new Emissions Trading Scheme (ETS) to the shipping industry could be in the billions, according to the forecasts from International Transport Intermediaries Club (ITIC). The extended EU ETS, which comes into force on 1 January 2024, will set an annual absolute l
Hapag-Lloyd studying 4,500 TEU wind-powered boxship concept
German container shipping company Hapag-Lloyd is eyeing a potential 4,500 TEU newbuilding vessel with wind-assisted propulsion as part of the company’s R&D activities involving alternative technologies and fuels.
Can shipping go beyond the COP28 razmataz and deliver on net zero targets?
Following a day of active discussions at the Shaping the Future of Shipping: Delivering a Net Zero World summit yesterday, 60 maritime organisations and government partners agreed on a course to deliver the IMO’s net-zero strategy at Shaping the Future of Shipping, an event hosted by the Internation
Erik Thun picks Berg Propulsion’s fuel optimization software for ten new ships
Swedish shipping company Erik Thun Group has selected Berg Propulsion’s thrust and fuel optimization software technology to optimize efficiency on board all ten of its latest newbuildings.
WSC: We need to get regulations right in next two years to ensure renewable fuels’ availability
In a bid to secure a competitive landscape for the availability of renewable fuels to power maritime vessels, energy providers need to have regulatory frameworks established within the next two years. The call comes with the recognition that substantial investments in new fuels are imminent, conting
VARD to deliver ‘highly customized’ hybrid cable lay & construction vessel to Japan
Norway’s VARD has secured a contract worth over $200 million to deliver a highly customized hybrid power cable lay and construction vessel to what it says is a leading Japanese construction company. The contract was signed with Toyo Construction, a Japanese general construction company that operates