Business Developments & Projects
Ocean Harvesting targets €400K to optimize wave energy device
Swedish company Ocean Harvesting Technologies has embarked on a funding raise, targeting €400,000 to further optimize its InfinityWEC wave energy device ahead of sea trials.
Pay dispute brings ‘unprecedented’ strike action to five major UK oil & gas operators
UK’s Unite the union has revealed a 48-hour stoppage on dozens of offshore platforms on the United Kingdom Continental Shelf (UKCS).
Exclusive: CSSC, CMA CGM pen record-breaking deal for 16 ultra-large boxships worth $3 bln
In a significant development for China’s shipbuilding industry, the China State Shipbuilding Corporation (CSSC) and French liner heavyweight CMA CGM have inked an agreement to construct 16 large container ships worth more than 21 billion Yuan ($3.06 billion). The order comprises of twelve 15,000 TEU
In focus: In pressing need for GHG reduction, vessel decarbonization efforts power ahead
In a pressing need to reduce global greenhouse gas emissions (GHG), the shipping sector and offshore vessel services providers are certainly the protagonists in the whole decarbonization story. However, although we are seeing an increasing number of initiatives, we still have a long way to go.
Mercedes-Benz, Amazon, Frankfurt Airport, Lidl & Kaufland, Vodafone – Giants in Germany lining up to buy offshore wind power
With the latest news about Lidl and Kaufland entering a long-term offshore wind power offtake contract, and Mercedes-Benz announcing the same shortly prior to that, the list of big names signing up to buy offshore wind-generated electricity in Germany keeps growing. What lies behind this are both th
GTT’s membrane tech to support PipeChina’s upcoming LNG projects
French LNG containment specialist GTT and PipeChina Innovation, a subsidiary of the state-owned PipeChina Group, have signed a cooperation agreement on GTT’s membrane technology for PipeChina’s upcoming LNG projects. The agreement was signed on the occasion of the visit of French President Emmanuel
Two new facilities and vehicle electrification in Soil Machine Dynamics’ five-year plan
Subsea robotics and engineering company Soil Machine Dynamics (SMD) has revealed its plans to exceed £100 million turnover within five years, which includes the electrification of its vehicles and two new facilities. To reach the turnover goal, SMD said it has ambitious recruitment targets and plans
GAZ-SYSTEM completes non-binding Gdansk FSRU market study
Poland’s natural gas transmission system operator GAZ-SYSTEM has completed a non-binding market research procedure for the demand for additional regasification capacity of the FSRU terminal in the Gulf of Gdańsk. The operator collected information on the level of market interest in additional regasi
GasLog and GasLog Partners ink definitive merger agreement
International owners and operators of liquefied natural gas (LNG) carriers GasLog and GasLog Partners have entered into a definitive merger agreement. Following the offer announced in January 2023, the parties now signed the agreement pursuant to which GasLog will acquire all of the outstanding comm
Damen hits record revenue of €2.5 billion
Dutch shipbuilder Damen Shipyards Group posted a revenue of €2.5 billion for 2022 for the first time in the company’s history. The shipbuilder said that the achievement was made despite the effects of the war in Ukraine, which had, and continues to have, a significant impact on business operations.
CCUS ZEN unveils plans to boost CCUS in Europe
The Carbon Capture, Utilisation and Storage Zero Emission Network (CCUS ZEN) has announced it will accelerate the rollout of CCUS in Europe by identifying two industrial clusters suitable for deployment of CCUS.
International offshore rig count on the upswing
Baker Hughes’ international rig count report shows that the number of offshore rigs was on the rise in March 2023, surging upward by 6 units.
Green light for Vår Energi to put Floatel unit to work at North Sea field
Norwegian regulator has given Vår Energi consent to deploy one of Floatel’s semi-submersible support vessels at a field in the North Sea.
Port of Gothenburg set to launch methanol bunkering services by end of 2023
Inter Terminals Sweden (ITS), part of Inter Terminals, one of the largest independent bulk liquid storage providers in northern Europe, is collaborating with the Port of Gothenburg to introduce methanol bunkering services in the port by the end of 2023. ITS revealed that preparations are ongoing to