Business Developments & Projects
BIMCO: Containerships hit their highest average age to date
Containerships have now reached their highest average age to date, standing at 14.2 years. This places them as the oldest vessels among the three major shipping sectors. In contrast, dry bulk vessels have an average age of 11.9 years, while tankers, on average, are 12.8 years old, BIMCO said in the
Horisont Energi and Barents NaturGass pen LoI for clean ammonia supply
Norwegian clean energy company Horisont Energi has signed a Letter of Intent (LoI) with its compatriot Barents NaturGass for a long-term purchase agreement of up to 100,000 tons annually of clean ammonia from Horisont Energi’s and Fertiberia’s Barents Blue plant. Under the LoI, the two companies wil
ELEMENT project creates intelligent tidal turbine that could slash costs by 17%
The Effective Lifetime Extension in the Marine Environment for Tidal Energy (ELEMENT) project has created an intelligent control system within a tidal energy turbine that could potentially reduce costs by over 17.7%. The ELEMENT project of eleven partners, including tidal energy developers Nova Inno
Manisa orders up to 8 cargo ships from CSSC Guangxi Shipbuilding
Italian shipping company Manisa Chartering has entered into a contract with China State Shipbuilding Corporation’s Guangxi Shipbuilding and Offshore Engineering for the construction of up to eight 8,500-ton general cargo ships. This deal represents the most significant export order for shipbuilding
Knutsen takes delivery of third LNG carrier for charter with ORLEN
Norwegian shipowner Knutsen Group has taken delivery of a newbuild LNG carrier that will go on a charter with Poland’s PGNiG Supply & Trading, a part of ORLEN Group. The vessel named Saint Barbara is the third in a series of six vessels that will be chartered to the Polish company, following Lech Ka
WATCH: Airseas reveals 16% fuel and emissions cuts in automated dynamic flight
Wind propulsion specialist Airseas announced that its latest sea trials have revealed projected fuel and emissions reductions of 16% based on a normalized transatlantic voyage. The projections are based on traction data collected during the validation of automated dynamic flights of the Seawing, whe
APMT, DP World: Port electrification is the fastest lane to impact. Hydrogen solutions an outlier, not the norm.
In the maritime sector, the quest for cleaner, more efficient practices has given rise to the electrification of ports and container handling equipment. Why, you might ask? The answer is clear, for electrification offers a trifecta of advantages that places it at the forefront of a green revolution:
PGE and GE to test green hydrogen production using offshore wind turbine
PGE Polska Grupa Energetyczna and GE have signed an agreement for the development of a project aimed at testing the production of green hydrogen using a GE offshore wind turbine. In the planned project, hydrogen would be produced in an electrolyzer using electricity generated from the latest GE wind
Global container handling equipment’s emissions match Slovenia’s 2020 CO2 output
The global fleet of 100,000-120,000 container handling equipment (CHE) is responsible for 10-15 million tonnes of carbon dioxide per annum, the equivalent of the annual emissions of Slovenia in 2020. Electrification of port operations through battery-electric CHE holds the key to a net zero future,
OKEA finds oil in Norwegian North Sea
Norwegian oil and gas company OKEA has made an oil discovery near the Brage field in the North Sea. According to the Norwegian Petroleum Directorate (NPD), between 0.2 and 0.5 million Sm3 of recoverable oil was proven in connection with drilling well 31/4-A 13 E in the northern part of the North Sea
Lloyd’s Register to class North Star’s two VARD-built methanol-ready CSOVs
Lloyd’s Register (LR), the UK’s classification society, has been awarded a contract to class two methanol-ready commissioning service operations vessels (CSOVs) being built by VARD, a global designer and shipbuilder of specialized vessels, for North Star, the UK’s offshore infrastructure support ves
Scots present new low-cost blade as ‘step change’ for tidal energy
The design engineers from the University of Edinburgh, together with Tocardo Turbines, have manufactured a new tidal turbine blade which could lead to the reduction of the levelized cost of tidal energy. The blade was manufactured in Scotland for the first time and more cheaply than before, with the
First Dutch large-scale CCS project to sport MAN technology
Just shortly after Allseas was awarded a contract for the project, MAN Energy Solutions secured work for the first large-scale carbon capture and storage (CCS) project in the Netherlands. MAN Energy Solutions will deliver three integrally-geared compressor trains (IGC) for the Porthos (Port of Rotte
TotalEnergies commissions LNG FSRU in Le Havre
France-headquartered energy major TotalEnergies has announced the commissioning of the Cape Ann, the floating storage and regasification unit (FSRU) for liquefied natural gas (LNG) located in the port of Le Havre. The company informed that the terminal injected its first megawatt-hours (MWh) of gas