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Business Developments & Projects

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South Korean submarine cable maker to launch second manufacturing facility in 2027
Business Developments & Projects

South Korean submarine cable maker to launch second manufacturing facility in 2027

South Korean Taihan Cable & Solution is planning to build its second submarine cable manufacturing facility, adjacent to the first one whose first phase was launched earlier this year. Taihan opened the first phase of its first submarine cable plant which focuses on producing inter-array cables, cov

about 1 year ago
Liquid Wind secures €44 million to speed up develpment of e-fuel plants
Business Developments & Projects
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Liquid Wind secures €44 million to speed up develpment of e-fuel plants

Swedish e-fuel plant developer Liquid Wind has secured €44 million in Series C financing to support the development of ten e-fuel facilities by 2027. The raise, which is said to be one of the largest funding rounds in Europe for e-fuels this year, was led by Uniper, HYCAP Fund I SCSp, and Samsung Ve

about 1 year ago
Two methanol-ready subsea rock installation vessels to enter offshore wind market in 2026
Business Developments & Projects

Two methanol-ready subsea rock installation vessels to enter offshore wind market in 2026

Rotterdam-based CSL OWL Subsea Rock Installation (CSL OWL SRI), a newly formed partnership between The CSL Group and Offshore Wind Logistics (OWL), has placed an order for the construction of two subsea rock installation vessels that will service the offshore wind sector. The DP2 vessels will each h

about 1 year ago
DFDS
Business Developments & Projects

DFDS: Turkish logistics acquisition reaches completion

Danish ferry and logistics company DFDS has completed the acquisition of the international transport network of Ekol Logistics, headquartered in Türkiye’s capital city of Istanbul. As disclosed, DFDS purchased the Turkish logistics player for a debt-free price of DKK 1.8 billion (about €240 million)

about 1 year ago
M4 wave energy prototype assembled at the Albany Waterfront Marina. Source: The UWA Oceans Institute
Business Developments & Projects

Australian wave energy prototype passes survival mode testing (Video)

The University of Western Australia’s (UWA) Moored MultiModal Multibody (M4) wave energy converter (WEC) has passed a survival mode test, demonstrating its endurance in harsh offshore conditions. During testing on November 18, 2024, the device endured waves up to 2 meters high, achieving a maximum

about 1 year ago
HMM welcomes LNG-powered 7,700 TEU boxship duo for long-term charter
Business Developments & Projects

HMM welcomes LNG-powered 7,700 TEU boxship duo for long-term charter

South Korean shipping company HMM has welcomed two newbuild LNG-powered 7,700 TEU containerships chartered from Greek shipowner Navios. The two ships named HMM Ocean and HMM Sky were built by HJ Shipbuilding & Construction (HJSC) in South Korea under the shipbuilding order placed by Navios in 2022.

about 1 year ago
Navigator Gas
Business Developments & Projects

Navigator Gas exercises options for two dual-fuel LEG carriers

Navigator Holdings (Navigator Gas), a UK-based owner and operator of the ‘world’s largest’ fleet of Handysize liquefied gas carriers, has exercised its previously announced option to construct two further 48,500 cbm liquefied ethylene gas carriers (LEGCs) in China.

about 1 year ago
Borealis-chartered dual-fuel gas carrier outfitted with Norsepower rotor sails for 4% emission reduction
Business Developments & Projects

Borealis-chartered dual-fuel gas carrier outfitted with Norsepower rotor sails for 4% emission reduction

Wind propulsion specialist Norsepower has completed the installation of two rotor sails on Oceanus Aurora, a dual-fuel very large gas carrier (VLGC) owned by Japanese shipping company IINO Kaiun Kaisha (IINO Lines) and chartered by Austrian chemical company Borealis. Under the contract from March 20

about 1 year ago
DeepOcean, Rem Offshore, Myklebust Shipyard land largest contracts in their histories thanks to Equinor
Business Developments & Projects

DeepOcean, Rem Offshore, Myklebust Shipyard land their largest contracts ever thanks to Equinor

Norwegian ocean services provider DeepOcean has secured what it says is its largest contract on record which includes the provision of subsea inspection, maintenance and repair (IMR) for compatriot state-owned energy company Equinor, keeping it busy for eight years, from 2027 to 2035. DeepOcean said

about 1 year ago
Noble Voyager drillship was hired for drilling activities in Block 52 by Petronas; Source: Noble Corporation
Business Developments & Projects

ExxonMobil drops out of block with gas & oil discoveries offshore Suriname

ExxonMobil has pulled out of a block containing a gas discovery off the coast of Suriname and transferred its stake to its partner.

about 1 year ago
Bright yellow ocean energy device named Mocean Blue X
Business Developments & Projects

Mocean Energy secures new engineering study, crowdfunding campaign gains momentum

Scottish wave energy company Mocean Energy has clinched an engineering study with a “major energy operator” to further explore the integration of its Blue Star wave energy device into their project. According to Mocean Energy, this follows their first collaboration and builds on the growing potentia

about 1 year ago
India’s SECI and H2Global agree to advance green hydrogen collaboration
Business Developments & Projects

India’s SECI and H2Global agree to advance green hydrogen collaboration

Hamburg-based H2Global, a foundation dedicated to accelerating the emergence of markets for clean hydrogen and other low-emissions technologies, and the Solar Energy Corporation of India (SECI) have signed a memorandum of understanding (MoU) to build cross-border hydrogen collaboration. The MoU sign

about 1 year ago
Namibia's Orange basin; Source Impact Oil & Gas
Business Developments & Projects

Canadian oil & gas player enlarges stake in Namibia’s Orange Basin

Canada’s Africa Oil has boosted its ownership interest in Impact Oil & Gas, an Africa-focused exploration player with hydrocarbon exploration and appraisal assets in the Orange Basin off the coast of Namibia.

about 1 year ago
FPSO Abigail-Joseph; Source: Yinson Production
Business Developments & Projects

‘Largest ever Nordic bond’ enables Yinson Production to raise nearly $3 billion in 2024

On a mission to bankroll the upgrade of its FPSOs, Yinson Production has placed a $100 million tap issue, bringing the total amount of the corporate bond to $600 million.

about 1 year ago