Business Developments & Projects
New strategic alliance sets eyes on transforming subsea and OBN markets
Norway’s Argeo and Shearwater GeoServices have entered a strategic alliance with the aim of innovating and pioneering new technology and products across the subsea and ocean bottom node (OBN) markets. The collaboration aims to drive innovation across all relevant sectors and markets, including the d
Fincantieri lands EUR 800 mln sustainability-linked loan
Italian shipbuilding giant Fincantieri has secured a substantial €800 million (USD 845 million) medium/long-term sustainability-linked loan. The loan, which spans five years, with a pre-amortization period of three years, will support Fincantieri’s organic growth and burgeoning workload. As informed
Recent North Sea discovery deemed ‘important’ for further exploration activities
A new gas condensate discovery in the Norwegian sector of the North Sea, made by DNO Norge, is perceived to be a play-opener.
Jiangnan orders GTT tank designs for two LNGCs
French LNG containment specialist GTT has received an order from China’s Jiangnan Shipyard for the tank design of two new liquefied natural gas carriers (LNGCs), on behalf of Shandong Marine Energy (Singapore). The delivery of the vessels is scheduled between the first and second quarters of 2027. G
Transocean raising cash to pay for its newbuild drillship
Transocean will use the net proceeds from the notes to partially finance the construction, acquisition, and alteration of a drillship.
Unboxing the ammonia-powered 15,000 TEU boxship: Seatrade and Foreship reveal key design features
Ammonia-powered container vessels are technically feasible and their development can meet acceptable preliminary safety concepts, according to the insights from a concept design study carried out by Maersk Mc-Kinney Moller Center for Zero Carbon Shipping, in partnership with Seaspan, ABS, and Foresh
Minesto’s Dragon gets its wings ahead of take off
Swedish ocean energy developer Minesto has completed the manufacturing of the Dragon 12 wing and started system integration at quayside in Uddevalla port in Sweden.
TotalEnergies’ energy transition roadmap comes under fire due to oil, gas and LNG ties
An analysis of TotalEnergies’ energy production diversification strategy was undertaken by Reclaim Finance.
Global low-emissions hydrogen growth threatened by lack of policy support and high costs, IEA report shows
While interest in new low-emissions hydrogen is on the rise, the slow roll-out of financial incentives and cost pressures put investment plans for future projects at risk, according to a new report published by the International Energy Agency (IEA). The latest edition of the IEA’s annual Global Hydr
DNV: Onboard CC and nuclear propulsion can compete with other decarbonization solutions
Onboard carbon capture and nuclear propulsion, previously regarded as ambitious concepts, are not only mere contenders in the quest for cleaner shipping but formidable ones, fully capable of taking on established decarbonization solutions, according to the recent findings from DNV. DNV has conducted
Plagazi to provide hydrogen for Gotlandsbolaget fleet
Sweden’s Plagazi has announced a project with compatriot Gotlandsbolaget for the supply of hydrogen for the next-generation ’Gotland Horizon’ fleet. The plan is for Gotlandsbolaget’s next-generation hydrogen-powered maritime transport vessels to utilize Plagazi’s hydrogen as fuel and enable Gotlands
Reliability of subsea cables paramount to energy transition success, GUH says
Failures in underwater cables could derail global offshore wind ambitions as the reliability of these cables is paramount to the success of offshore wind and the energy transition, according to the Global Underwater Hub (GUH), UK’s trade and industry development body for the underwater sectors. GUH
IEA: Methanol to take a backseat as ammonia blazes the trail in shipping’s decarbonization journey
In the ever-evolving quest to decarbonize the shipping industry, ammonia has emerged as the frontrunner, while methanol, despite its current hype, plays a comparatively smaller role, according to the International Energy Agency’s (IEA) 2023 Net Zero Roadmap report. The IEA’s 2023 Net Zero Roadmap se
Snam hires Greek firm for pipeline works on new FSRU project off Ravenna
Greek company Corinth Pipeworks has secured a contract with Italian energy player Snam to manufacture and supply steel pipes for the development of an offshore and onshore natural gas pipeline for a floating storage and regasification unit (FSRU) to be deployed offshore Ravenna, Italy. Under the con