Business Developments & Projects
Masdar, Dutch firms advance hydrogen export plans to Amsterdam port
Abu Dhabi-based clean energy company Masdar and its Dutch partners Port of Amsterdam, SkyNRG and Zenith Energy Terminals have signed a joint study agreement (JSA) to assess the feasibility of a dedicated liquefied green hydrogen supply chain for Masdar-produced hydrogen to the port of Amsterdam. Und
The Sea Cargo Charter to revamp reporting ambitions
The Sea Cargo Charter (SCC) plans to revise its reporting ambitions, aligning its trajectory with emission reduction goals in response to the International Maritime Organization’s (IMO) revised greenhouse gas (GHG) strategy adopted during MEPC80 in July 2023. The SCC said it was set to expand its cu
First oil still on track as BP spuds production well from brand-new platform off Azerbaijan
BP has started drilling the first well from its operated Azeri Central East (ACE) platform in the Caspian Sea off the coast of Azerbaijan.
Container shipping majors enter green fuel deals with Nestlé
Container shipping companies Hapag-Lloyd and CMA CGM revealed that they entered into collaboration with Nestlé, a Switzerland-based food & beverage company, aiming to advance cleaner shipping.
Hayfin unlocks $1 billion in shipping asset potential
Europe’s shipping investor Hayfin Capital Management has completed a fundraising process for its Maritime Yield strategy, attracting $400m in capital commitments for the fund. With the latest financing round, Hayfin will have the capacity to acquire up to $1bn of shipping assets when coupled with co
Euronav brings its ammonia-powered VLCC tally to three, adds two Suezmax orders to the mix
Belgian tanker company Euronav NV confirmed this morning that it has lifted the option for one more very large crude carrier (VLCC) at Chinese shipyard Qingdao Beihai and ordered two Suezmaxes at Daehan Shipbuilding in South Korea. The confirmation comes on the heels of shipbroker reports on the ord
Ecomotus’ EcoPro hydrogen electrolyzer wins RINA’s full-type approval
Ecomotus’ EcoPro fuel catalyst system, a standalone retrofit design that uses hydrogen to reduce emissions and improve fuel efficiency on marine engines, has been granted full-type approval by the classification society RINA. The EcoPro system is said to optimize the engine’s fuel combustion, contin
Maersk’s first large methanol-fueled boxship to work on Asia-Europe route
The first of eighteen large methanol-powered vessels ordered by Danish shipping and logistics giant A.P. Moller-Maersk will be deployed on the Asia-Europe trade lane, the company revealed.
Norwegian diving contractor secures work on Vår Energi’s field
Norwegian diving contractor SubseaPartner has won a contract to deliver a new diver launch and recovery system in the North Sea for Vår Energi. SubseaPartner said it was awarded a substantial contract by Ocean Installer for the 2024 season for end-client Vår Energi as part of the Balder Future Proje
BP joins hands with Indonesian company for LNG import project in East Java
UK’s BP Gas & Power Investments and Indonesia’s logistics and supply chain company PT AKR Corporindo have signed a joint development agreement to work on an LNG import project involving a regasification terminal in Java Integrated Industrial and Port Estate at Gresik, East Java, Indonesia (JIIPE). A
Minesto installs seabed anchor for Dragon 12 tidal energy device
Minesto has completed the installation of a drilled and grouted seabed anchor solution for the Dragon 12, at the company’s production site offshore in Vestmannasund, Faroe Islands.
PGS takes 102-meter seismic acquisition vessel to Asia Pacific
Norwegian seismic company PGS has won an exploration contract in Asia Pacific – a region in which the company sees potential for more proprietary work. The 102-meter-long seismic acquisition vessel Ramform Sovereign is scheduled to mobilize this month for the 3D exploration contract in the Asia Paci
COSCO Line to retrofit containership quartet to methanol
Following in the pioneering footsteps of Maersk, Chinese shipping heavyweight COSCO Line is embarking on a journey to retrofit some of its containerships for methanol propulsion. Namely, COSCO Line has partnered with compatriot China’s COSCO Heavy Industry Shanghai, a COSCO Group shipyard, to retrof
Peninsula delivers LNG to EPS’ Starway at Gibraltar Port
Maritime fuel supplier Peninsula has delivered LNG to Suezmax crude oil tanker, Starway, owned by Singapore-based Eastern Pacific Shipping (EPS) at the Gibraltar Port. Peninsula’s first purpose-built 12,500 cubic meter LNG bunker vessel, Levante LNG, supplied EPS’ Starway with approximately 3,500 cu