Business Developments & Projects
Dive into: Multi-million and billion-dollar deals, interconnectors, innovations, acquisitions, and vessel jobs
The maritime and offshore energy industries share a decarbonization drive and seek to develop long-term net zero solutions to combat climate woes.
Shipping CEOs call for an end to fossil-only powered newbuilds
The Chief Executive Officers (CEOs) of leading global shipping lines have issued a joint declaration at COP 28 calling for an end date for fossil-only powered newbuilds and urging the International Maritime Organization (IMO) to create the regulatory conditions to accelerate the transition to green
€850 million award for UK’s cable connection project lands on Prysmian’s order backlog
Prysmian has tucked under its belt a contract win worth around €850 million for a high voltage direct current (HVDC) cable connection in the UK.
Is UK at risk of falling short of its CCS targets despite potential to surpass them?
Westwood has warned that delays, cancellations, and under-delivery pose a significant risk, which could derail Britain’s 2030 targets.
Huisman presents cable-lay system for multi-purpose vessels – gallery
Huisman has unveiled a cable-lay system that ensures fast mobilization and demobilization for multi-purpose vessels (MPVs).
New tool identifies best ports for developing green first-mover initiatives
Environmental Defense Fund (EDF) and Lloyd’s Register (LR) Maritime Decarbonisation Hub, in collaboration with Arup, have introduced the Sustainable First Movers Initiative Identification Tool, a system to help shipping stakeholders align investment decisions that support the maritime energy transit
AD Ports expands shipping operations in Kazakhstan with tanker pair
UAE-based port operator AD Ports Group in collaboration with Kazakhstan’s national oil company KazMorTransFlot (KMTF) has announced the acquisition and commencement of operations of two oil tankers designed for the transportation of Kazakhstan’s oil across the Caspian Sea. The two tankers were named
Metacon’s hydrogen generator HHG 50 receives approved CE marking
Swedish manufacturer of energy systems for green hydrogen production Metacon, through its subsidiary Helbio, has gotten approved CE marking of its hydrogen generator HHG 50 for the production of circa 50 Nm3 of hydrogen per hour. This type of unit is intended for the company’s demonstration plant in
BP hands out multi-year global master agreement to Well-Safe Solutions
BP has hired Well-Safe Solutions on a long-term global master agreement for well engineering and decommissioning support services.
Project for implementing Scotland-Rotterdam hydrogen export route moves forward
The consortium behind the LOHC for Hydrogen Transport from Scotland (LHyTS) project, which aims to establish a hydrogen export route from Scotland to Rotterdam via liquid organic hydrogen carrier (LOHC), has conducted engineering studies targeted at developing a pilot project as a precursor to large
Corvus Energy appoints new CEO
The Board of Norway-based energy storage company Corvus Energy has appointed Fredrik Witte as the new CEO, starting January 1st, 2024. Witte joins from his position as the Managing Director of Cargill Aqua Nutrition. “Corvus Energy is entering an important phase where the company will continue to bu
Hybrid interconnector projects in North Sea and Baltic Sea beef up Europe’s green energy ties
Three hybrid interconnector projects in the North Sea and Baltic Sea are among the proposed cross-border energy infrastructure projects, which underpin the EU’s climate and net zero drive.
UK subsea firm broadens its horizons with acquisition of compatriot player
Ashtead Technology is augmenting its global offering by acquiring the entire share capital of Rathmay Limited, the parent company of ACE Winches, from its founders Alfie and Valerie Cheyne, for a total cash consideration of £53.5 million (almost $67.7 million) on a cash and debt free basis.
Northern Lights’s LCO2 carrier pair hits 60% completion milestone
The construction of the first two Northern Lights’ ships has surged past the 60% completion mark, signaling substantial strides in the creation of what has been described as the world’s first large vessels tailor-made for liquified CO2 transport, the company said. The Northern Lights project, a join