Business Developments & Projects
Despite higher day rates, new rig orders not on the cards soon, says Westwood
While Westwood believes that a newbuilding cycle will not happen anytime soon, any new rig orders are likely to be for jack-ups.
Equinor picks Nauticus and Stinger Technology for North Sea project
Nauticus Robotics has been hired – together with its partner, Stinger Technology – for a pilot project by Norway’s Equinor.
Ammonia-powered ships expected to be 50-130 pct pricier to build
The financial cost of building an ammonia-powered gas carrier is poised to outstrip that of an equivalent gas carrier by a staggering 50 to 130 percent over the forthcoming years. The estimate builds upon findings from interviews with actors across the ship finance space including banks, funds, priv
Exceedence launches €500K crowdfunding campaign
Irish fintech company Exceedence has launched a crowdfunding campaign on Seedrs platform, aiming to raise €500,000 to advance its software solution exfin that can help accelerate the roll out of offshore wind, wave and tidal energy projects.
EC publishes terms & conditions ahead of hydrogen bank pilot auction
The European Commission (EC) has published terms and conditions for its upcoming pilot auction dedicated to European renewable hydrogen production under the umbrella of the EU Hydrogen Bank. The auction is funded by the Innovation Fund and is intended to open on 23 November 2023. It will award up to
Reports: Hapag-Lloyd doesn’t make it to the shortlist in the bid for HMM
The fervent contest to secure ownership of South Korea’s premier shipping enterprise, HMM Co., has recently taken a compelling turn with the entry of Hapag-Lloyd AG, Germany’s foremost container shipping powerhouse. Hapag-Lloyd, Germany’s most prominent and the fifth largest global player, stood as
Solstad is on a roll as six vessels win new jobs in African and Norwegian waters
Solstad Offshore is experiencing a prolonged spell of success, demonstrated by the latest batch of contracts for six vessels in its fleet.
Survey: Passengers interested in paying more for reduced emissions
An impressive majority of 68 percent of Finnish maritime respondents who participated in a recent survey have expressed their willingness to pay more money in exchange for emission reduction on their travels. The EPSI Rating’s Passenger Transport 2023 survey examined the customer experience and cust
Aker BP, Aker Solutions and Subsea 7 kick off construction work for oil & gas project off Norway
Aker BP, Aker Solutions, and Subsea 7 have started the work on the first of three seabed installations for huge oil & gas projects.
MAN furnishing three North Sea oil & gas platforms with compressor technology
MAN Energy Solutions has been hired to provide seven compressor units for three new offshore oil and gas production platforms.
Wärtsilä and Furetank crack down on methane slip
Finnish marine technology supplier Wärtsilä and Swedish shipping company Furetank are co-developing and testing two technologies showing the potential to halve the methane slip of LNG-fueled ships. Methane slip on LNG-powered vessels refers to the unintentional release of methane, a potent greenhous
‘Renewables for subsea power’ project secures extension after successful offshore trial
A collaborative renewable subsea power project, run by Mocean Energy and Verlume, alongside Baker Hughes, Serica Energy and others, has completed an initial four-month test program and secured extension for further testing in the North Sea.
EnBW buys into Norwegian green ammonia project
German energy supply company EnBW Energie Baden-Württemberg has entered into an investment agreement with Skipavika Green Ammonia (SkiGA), which is said to be one of Europe’s most advanced projects for emission-free ammonia production, in Western Norway. Under the agreement, EnBW will acquire a 10%
Van Oord’s new cable-laying vessel comes to Dutch shores
Van Oord has taken delivery of the newest member of its fleet, a next-generation, cable-laying vessel, which arrived in the Netherlands.