Business Developments & Projects
Tocardo concludes 8-year demonstration of Eastern Scheldt tidal energy array
Tocardo, a joint venture of QED Naval and HydroWing, has completed the demonstration of 1.25MW five-turbine tidal energy array in the Netherlands after eight years of operation.
HelioRec installs floating solar unit in French port
France-based start-up HelioRec has completed the installation of a 25kW floating solar unit in the Port of Brest.
International offshore rig count takes a downturn
Baker Hughes’ international rig count report shows a sharp drop in the number of offshore rigs in September 2023.
Plexus completes P&A gig for Oceaneering
England’s oil and gas engineering services firm Plexus Holdings has completed its work for the plug and abandonment (P&A) equipment and services campaign for Oceaneering. The P&A order from Oceaneering included tieback and subsea well control equipment together with hydraulic controls and services i
TEN welcomes its first LNG-powered Aframax tanker
Greek shipping company Tsakos Energy Navigation (TEN) has taken delivery of its first newbuild LNG-powered Aframax tanker. According to TEN, the Njord DF vessel is the first in a series of four high-spec eco-designed vessels built against long-term employment to a major European state-owned oil conc
Vår Energi offloads stake in North Sea field
Vår Energi has inked a deal with Petrolia NOCO (Petrolia) to dispose of its entire interest in a field located in the Norwegian North Sea.
Frontline to acquire 24 VLCCs from Euronav for $2.35 billion as part of talks to end ‘structural deadlock’
Belgian tanker major Euronav NV confirmed the recent flurry of speculations engulfing discussions between two of its major stakeholders, Frontline and CMB NV. The rumors have stirred up volatility in Euronav’s share price, subsequently prompting the suspension of Euronav shares on Euronext Brussels.
Lease agreement in for North Sea carbon capture and storage project
The UK’s Crown Estate has awarded an agreement for lease for what could become one of the world’s largest carbon capture and storage (CCS) projects. The agreement for lease will allow BP, as the lead operator, to further progress the planned Endurance CCS project, a reservoir in the North Sea that w
Port of Rotterdam backs ZEMBA with incentive for sustainable shipping fuels
The Port of Rotterdam has announced a port fee reduction for ships that bunker sustainable fuels in Rotterdam, supporting the Zero Emissions Maritime Buyers Alliance (ZEMBA). The Port of Rotterdam highlighted ZEMBA’s recent launch of a request for proposals for the transport of 600,000 twenty-foot c
Welsh minister for climate change takes Pembrokeshire marine energy tour
The Welsh government’s minister for climate change Julie James has visited south-west Wales to see first-hand the work being done in Pembrokeshire to advance the development of renewables, including marine energy.
Mermaid Maritime secures $485 million in multiple new contracts
Thailand-headquartered subsea services provider Mermaid Maritime has secured multiple new contracts with a combined value of approximately $485 million. Mermaid Maritime reported that its subsidiaries had secured multiple new offshore project awards in Thailand, the Middle East, Western Sub Sahara,
CMA CGM to launch startup accelerator in UK
French shipping major CMA CGM Group plans to launch ZEBOX UK, a global startup accelerator, in Manchester this month. The Manchester-based startup accelerator is ZEBOX’s sixth innovation hub in the world, focusing on operational efficiency, decarbonization, future of work and artificial intelligence
Carisbrooke Shipping orders eco dry cargo ship from Thecla Bodewes
UK shipowner Carisbrooke Shipping has signed a shipbuilding contract with Dutch shipbuilder Thecla Bodewes Shipyards for the construction of a Labrax 7,280 dwt diesel-electric multipurpose dry cargo vessel. The ship will be fitted with a diesel-electric propulsion system in combination with the adva
All-systems-go for ConocoPhillips to bring online cross-border North Sea project
Norwegian authorities have given their blessing for the start-up of the ConocoPhillips-operated cross-border field in the North Sea.