Business Developments & Projects
Ocean Yield splashes $576 million on up to ten Newcastlemax newbuildings
Norwegian shipowner Ocean Yield AS is continuing its shopping spree now targeting the acquisition of up to ten Newcastlemax dry bulk newbuildings for a total consideration of up to $576 million. Upon delivery, the vessels will commence 15-year bareboat charters to an unnamed dry bulk operator with p
Will the UK’s huge new oil & gas project overcome the hurdles in its path?
Rosebank, located West of Shetland, is now facing additional obstacles that may hinder its progress and delay the sanctioning yet again.
Sabella’s tidal power production curve gets Bureau Veritas seal
French tidal energy developer Sabella has verified the power production curve of its D10 turbine through a certification issued by the classification group Bureau Veritas.
Final UK land cable piece in for Viking Link interconnector
Balfour Beatty has laid the final piece of land cable on the UK side of the Viking Link interconnector project which will connect the British and Danish power grids. Balfour Beatty reeled the final piece of land cable into position near Mablethorpe in Lincolnshire, marking the 118th cable laid in th
The Netherlands wants Gasunie to develop offshore hydrogen network in the North Sea
Dutch Minister for Climate and Energy Policy Rob Jetten intends to appoint energy infrastructure firm Gasunie to develop an offshore hydrogen network in the North Sea. According to Gasunie, the Minister announced its intention to the House of Representatives on 2 December 2022. Hydrogen produced usi
Oldendorff Carriers invests in digital solutions to future-proof its fleet
Germany-based dry bulk carrier owner and operator Oldendorff Carriers has signed a deal that will see it invest in maritime digital solutions provider Alpha Ori Technologies (AOT).
Eco Wave Power’s third quarter net loss slightly rises
Swedish-Israeli wave energy company Eco Wave Power has released interim financial results 2022, marking a slightly higher net loss in the third quarter when compared to the same period a year earlier.
BP’s giant incoming hydrocarbon projects to watch in 2023
While tackling the energy trilemma, BP has been working on multiple projects and three of these are on track to start up next year.
All eyes on Russia’s fleet as crude oil price cap, OPEC+ cut perpetuate tanker markets’ volatility
Uncertainty and volatility continue to cast a shadow over the oil and tanker market as December 5 deadline for the oil price cap for Russian oil expires. Today, all eyes are set on Russia to see what vessels will be loaded and where they would head as Moscow defines its steps in response to the [&he
DeepOcean inks deal for potential use of autonomous vehicles for environmental studies
Norway’s DeepOcean and Akvaplan-niva, a subsidiary of the Norwegian Institute for Water Research (NIVA), have partnered up to cooperate on the potential use of remotely operated vehicles (ROVs) and unmanned glider vehicles (USVs) for environmental studies for offshore wind and oil & gas developments
Price cap on Russian crude oil comes into force while OPEC+ sticks to output cuts
A price cap for seaborne Russian crude oil is being imposed by the G7 and Australia while OPEC+ has decided to keep the status quo.
World’s largest LPG/Midsize gas carriers to feature Wärtsilä’s equipment
Finnish technology group Wärtsilä has been selected to provide cargo handling and fuel supply systems for Exmar LPG’s two LPG/Midsize gas carrier vessels.
First for Lloyd’s Register as it certifies an uncrewed surface vessel
Lloyd’s Register has awarded its first certification for an uncrewed surface vessel (USV) to the DriX maritime surface drone. The DriX USV, developed by iXblue and ECA Group under the new joint brand called Exail, has already received Bureau Veritas Approval in Principle (AiP). The new certification
Trafigura signs $3 billion loan to supply ‘substantial volumes’ of gas to Germany’s SEFE
Commodities trading group Trafigura has entered into a $3 billion four-year loan agreement guaranteed by the Federal Republic of Germany to secure gas supply. The loan is jointly arranged and underwritten by Deutsche Bank and another international bank and syndicated to a number of participating ban