Business Developments & Projects
TORM buys seven LR1 tankers for $233 million
Danish tanker company TORM has entered into agreements to acquire a total of seven 2011-2013 built LR1 vessels. The company will spend $233 million on the acquisition. According to TORM, all the vessels are built at renowned Korean and Chinese shipyards. The tankers are expected to be delivered no l
H2Carrier joins Ocean Hyway Cluster
Norway’s network for hydrogen-based solutions for the maritime sector Ocean Hyway Cluster has welcomed H2Carrier AS, the designer and owner of the proprietary floating energy production and storage system P2XFloater™, to its cluster. During the chat with the Cluster, Sebastian Kihle, Chief Technolog
Westwood: 2023 shaping up to be a busy year for offshore rigs with further boost in day rates
Westwood forecasts global marketed offshore rig utilisation to average 95 per cent this year with day rates getting a further boost.
Deutsche ReGas hires S5 Agency World to manage shuttle tankers at Lubmin LNG terminal
Port services provider S5 Agency World has entered into a contract with Deutsche ReGas to act as terminal agent at the new Deutsche Ostsee LNG terminal at Lubmin Port. The floating storage and regasification unit (FSRU) serving as the terminal was officially launched on 14 January, with the inaugura
WEDUSEA wave energy project makes design and engineering progress
The partners in the €19.6 million WEDUSEA wave energy project have made significant progress in the engineering and design scope of development, building on learnings from previous wave energy initiatives.
Prysmian to start installing Saint-Brieuc inter-array cables next month
Prysmian will begin working on the installation of inter-array cables at the Saint-Brieuc offshore wind farm at the beginning of next month, shortly after the vessels to be deployed for this operation arrive at the project site in France at the end of this month or in the first days of February. Pry
Rotech Subsea wraps up cable work at UK offshore wind farm
Rotech Subsea, a provider of subsea tools to the energy industry, has completed cable de-burial, cut and recovery, and cable burial operations, at an offshore wind farm in UK waters.
Study: Shared automated micro panel line for the Northern Netherlands shipbuilding feasible
Setting up a fully automated line for the joint production of ship parts by the Northern Netherlands maritime sector for the benefit of Northern shipyards is technically, financially, and organizationally feasible, a study shows. The feasibility study, ‘Shared Facility micro panel line for the North
EVOLVE spotlights value of ocean energy for future energy mix, uncovering 70GB of viable resources in three European countries
Official results from the pan-European EVOLVE project involving world-leading academics, research institutions and technology developers have been released, providing a firm evidence base supporting the acceleration of ocean energy in Europe’s future energy system.
Natural gas and hydrogen storage ‘fundamental’ to tackling energy crisis and decarbonisation
Ramping up storage of natural gas and hydrogen is seen as a solution to both the energy crisis and energy transition.
Sakhalin Energy exceeds its 2022 targets
Russian LNG producer Sakhalin Energy has surpassed its 2022 targets, producing about 11.5 million tonnes of LNG and 3.7 million tonnes of Sakhalin blend oil. According to the company, all products were delivered to the buyers on time in full compliance with the SPA terms. The major LNG markets inclu
Karpowership to help ease Ukraine’s energy crisis via floating power stations
Turkey’s floating power plant company Karpower International (Karpowership) has signed a memorandum of understanding (MoU) with state-owned trader JSC Energy Company of Ukraine (ECU) to enhance electricity supply cooperation and accelerate the use of floating power stations to alleviate the nation’s
UK High Court quashes decision to reject £1.35 bn, 2GW interconnector
The UK High Court has quashed the decision brought at the beginning of 2022 to reject a £1.35 billion, 2 GW electricity interconnector between the UK and France. Kwasi Kwarteng, at that time Secretary of State for Business (BEIS), in January 2022 refused consent for the AQUIND interconnector despite
MPC Container Ships to buy sustainable marine diesel from INERATEC
Norwegian container tonnage provider MPC Container Ships has signed an offtake agreement with German e-fuels supplier INERATEC for synthetic marine diesel oil (MDO) made from biogenic CO2 and renewable hydrogen. According to MPC Container Ships, this is the industry’s first agreement for the supply