Business Developments & Projects
European Commission ends shipping consortia antitrust exemption
The European Commission will not extend the EU legal framework exempting liner shipping consortia from EU antitrust rules, known as the Consortia Block Exemption Regulation (CBER). This decision comes after a review process initiated in August 2022, with the CBER set to expire on April 25, 2024. The
Sabella’s D10 tidal turbine breaks power production record
French company Sabella has broken the power production record with its D10 tidal energy turbine, generating over 25% of the total electricity consumed on Ushant Island by harnessing the energy of the tides.
ERMA First’s CCS wins nod from LR
Greek ballast water treatment specialist ERMA FIRST has won Lloyd’s Register’s Approval in Principle (AiP) for its amine absorption-based carbon capture & storage (CCS) system. The system uses absorption technology to mix carbon dioxide (CO2) flue gases with a proprietary amine solvent, which is the
Reach Subsea to perform survey for Scottish offshore HVDC transmission link
Reach Subsea has secured a contract with SSEN Transmission to carry out a survey for an HVDC transmission link offshore Scotland. The contract constitutes a detailed corridor survey for the Spittal to Peterhead HVDC power cable. The data will be used for detailed engineering and environmental assess
Gallery: 47-year-old rig converted into FPF enters UK port’s dry dock ahead of decom work
Former semi-submersible drilling rig, which was turned into an FPF, is going to be decommissioned at the UK’s Kishorn Port (KPL).
Peninsula secures LNG bunkering license in Gibraltar
Maritime fuel supplier Peninsula has won an LNG bunkering operator license from the Government of Gibraltar and the Gibraltar Port Authority. The company recently sent its new 12,500 cubic meters LNG supply vessel, Levante LNG, to the Strait of Gibraltar. Levante LNG will be operated by Peninsula, s
KCA Deutag’s Turan lands multi-million extension deal for eight offshore platforms
Turan Drilling & Engineering has secured a long-term contract extension worth $300 million for work on eight platforms off Azerbaijan.
ICS rolls out CII data collection system
The International Chamber of Shipping (ICS) has launched a Carbon Intensity Indicator (CII) Data Collection System. CII is a rating system developed by the International Maritime Organization (IMO) to measure the energy efficiency of ships, above 5,000 gross tonnage and trading internationally. It c
DeepOcean and Aker BP make ‘pioneer’ USV agreement
Norwegian subsea services provider DeepOcean and oil and gas player Aker BP have entered into an agreement to “pioneer” the use of an unmanned surface vessel (USV) for subsea inspection, maintenance and repair (IMR) and survey work. According to DeepOcean, the USV solution can reduce CO2 emissions w
Marinakis proposes Capital Product Partners’ pivot to LNG carrier sector
Greek shipping magnate Evangelos Marinakis, alongside his son Miltiadis and private company Capital Maritime & Trading, has revealed plans to propose a significant shift in the business focus of New York-listed shipowner Capital Product Partners. The proposal, disclosed in a filing with the U.S. Sec
UK port bids adieu to Noble rig following ten-month stay – gallery
After ten months, a jack-up rig has left the UK’s Kishorn port (KPL), in preparation for its next drilling assignment.
CMB breaks deadlock as Frontline sails away with $2.35 billion VLCC bounty in Euronav deal
After months of tense negotiations and legal disputes, Compagnie Maritime Belge (CMB) has announced a breakthrough agreement with Frontline and its affiliated company Famatown Finance Limited that paves the way for resolving the ongoing deadlock within Belgian tanker major Euronav. CMB, along with i
Subsea rock installation record for Van Oord vessel
Van Oord’s flexible fallpipe vessel Nordnes has installed 20 million tonnes of rock, a record that the Dutch company said was unparalleled in the subsea rock installation market. Nordnes has been installing rocks on the seabed since 2005 and has now installed 20 million tonnes of rock in total. The
Push for CCU and CCS inclusion in EU Net Zero Industry Act gains momentum
A coalition of industry leaders, environmental advocates, and policymakers have called for the inclusion of Carbon Capture and Utilisation (CCU) and Carbon Capture and Storage (CCS) technologies in the European Union’s Net Zero Industry Act (NZIA) as strategic net-zero technologies. The joint statem