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Business Developments & Projects

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Maersk
Business Developments & Projects

Alliance of CEO Climate Leaders urge world govts to scale up investment in renewable energy ahead of COP28

More than a hundred CEOs and senior executives from the Alliance of CEO Climate Leaders, led by Vincent Clerc, Chief executive Officer of A.P. Moller Maersk, have shared an open letter to world leaders ahead of COP28. The quest to cap global temperature rise at 1.5°C faces jeopardy without intensifi

about 3 years ago
Oman LNG extends partnership with international firms, including Shell, beyond 2024
Business Developments & Projects
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Oman LNG extends partnership with international firms, including Shell, beyond 2024

Oman LNG has signed shareholder agreements with several international companies, including Shell, as part of its strategic roadmap to extend the existing agreements and continue business beyond 2024. At the ceremony held on October 23, the state-owned company signed Oman LNG and Qalhat LNG sharehold

about 3 years ago
Eni clinches long-term LNG deal with QatarEnergy to strengthen Italy’s energy security
Business Developments & Projects

Eni clinches long-term LNG deal with QatarEnergy to strengthen Italy’s energy security

Qatar’s state-owned oil and gas company QatarEnergy and Italian energy major Eni have signed a long-term agreement for the supply of LNG from Qatar to Italy. Under the 27-year sale and purchase agreement (SPA), up to one million tons per annum (mtpa) of LNG will be delivered to the floating storage

about 3 years ago
Euronav
Business Developments & Projects

Euronav, Cargill, and Chevron vow to adopt vessel optimization strategies at GMF summit

Industry giants Chevron, Euronav, and Cargill have announced their joint operational efficiency ambition statement as part of the Global Maritime Forum Annual Summit in Athens. Under the ambition, the trio committed to adopt vessel optimization strategies that can decrease annual fuel consumption by

about 3 years ago
The Insight Partners: Green hydrogen market to grow to $88 billion by 2030
Business Developments & Projects

The Insight Partners: Green hydrogen market to grow to $88 billion by 2030

According to the “Green hydrogen market forecast to 2030 – COVID-19 impact and global analysis – technology (alkaline electrolysis and PEM electrolysis), renewable source (wind energy, solar energy and others), end-use industry (chemical, power, food & beverages, medical, petrochemicals and others)

about 3 years ago
Maersk feeder bunkering with Agility tanker; Image credit Maritime & Port Authority of Singapore
Business Developments & Projects

Mittal: Shipowners need to start locking in long-term supply of green fuels

In order to catch up with the ambitions of decarbonization targets for the maritime industry, shipowners are being encouraged to start proactively securing long-term contracts for green fuels from serious players as the availability of these fuels is likely to be restricted amid demand from other se

about 3 years ago
Michael Parker
Business Developments & Projects

Parker: Shipping financing will not be the same

Green corridors are likely to transform the realm of shipping finance as the focus shifts from emissions from ships to the entire supply chain, according to Michael Parker, Chairman of the Poseidon Principles. Parker spoke on a panel on Wednesday as part of the launch of Progress Toward Shipping’s 2

about 3 years ago
Urgent action needed to reach 5% zero-emission fuel target by 2030, says new report
Business Developments & Projects

Urgent action needed to reach 5% zero-emission fuel target by 2030, says new report

In the race to achieve the 5% target for scalable zero-emission fuel (SZEF) goal by 2030, the global shipping industry has made significant progress over the past year, as revealed in a recent report from UMAS, Getting to Zero Coalition, and Race to Zero. The developments are promising, but as the 2

about 3 years ago
ADNOC Gas and JERA Global Markets ink $500-700 million LNG supply deal
Business Developments & Projects

ADNOC Gas and JERA Global Markets ink $500-700 million LNG supply deal

UAE’s integrated gas processing company ADNOC Gas has announced a multi-year liquified natural gas (LNG) supply agreement, valued between $500 million (AED 1.8 billion) and $700 million (AED 2.5 billion), with JERA Global Markets, a trading subsidiary of Japan’s energy major JERA. ADNOC Gas said the

about 3 years ago
QatarEnergy and Shell agree on 27-year LNG supply to the Netherlands
Business Developments & Projects

QatarEnergy and Shell agree on 27-year LNG supply to the Netherlands

QatarEnergy and Shell, through their affiliates, have signed two long-term LNG sale and purchase agreements for the supply of LNG from Qatar to the Netherlands. Pursuant to the agreements, up to 3.5 million tons per annum (mtpa) of LNG will be delivered to the Gate LNG terminal in the port of Rotter

about 3 years ago
ClassNK
Business Developments & Projects

ClassNK: 80 million gt of zero-emission ships needed annually by 2040 to meet IMO targets

The maritime industry must build 80 million gross tonnage (gt) of zero-emission ships each year over the 14-year period from 2027 to 2040 to achieve the indicative checkpoints for 2030 and 2040 developed by the International Maritime Organization (IMO) in its 2023 Greenhouse Gas (GHG) Strategy, acco

about 3 years ago
Cyber attack
Business Developments & Projects

Maritime industry remains ‘easy target’ for cyber attacks as ransom payment demands skyrocket

The maritime industry remains an “easy target” for cybercriminals, and the cost of attacks and demand for ransom payments across the sector have skyrocketed over the past 12 months, according to the research findings from law firm HFW and maritime cyber security company CyberOwl. The research reveal

about 3 years ago
Prysmian produces cables for 3 GW submarine link between Middle East and North Africa
Business Developments & Projects

Prysmian produces cables for 3 GW link between Middle East and North Africa

Italian cabling giant Prysmian has completed the manufacturing of cables for the submarine power interconnection between Egypt and Saudi Arabia – the first-ever large-scale link between the Middle East and North Africa. Prysmian secured the contract worth about €221 million with the Egyptian Electri

about 3 years ago
Illustration; Source: QatarEnergy
Business Developments & Projects

In focus: The hard truths and wake-up calls in the global energy transition

As the world races towards a net-zero emissions future by 2050, it’s imperative to acknowledge some hard truths and heed the wake-up calls emerging from the latest reports and analyses. The energy transition journey is undoubtedly complex, laden with challenges and unearthing difficult realities as

about 3 years ago