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Business Developments & Projects

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Oman LNG strikes 4-year supply deal with Germany’s SEFE
Business Developments & Projects

Oman LNG strikes 4-year supply deal with Germany’s SEFE

Oman LNG has signed a binding term-sheet agreement with German Securing Energy for Europe (SEFE) to supply 0.4 million metric tons per annum (mtpa) of LNG starting from 2026. According to a report from the Omani state news agency, the agreement, based on a 4-year contract, aims to enhance the partne

about 3 years ago
New Dutch donation to bridge funding gap, allowing UN to embark on salvage ops for ‘ticking timebomb’ in Red Sea
Business Developments & Projects

With the oil transfer completed, the final destination of FSO Safer remains unknown

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The successful completion of the oil transfer operation from the FSO Safer marks a significant milestone in averting a potential environmental and humanitarian catastrophe in the Red Sea. However, the mission is far from over, as the next crucial steps involve making a decision that would ensure the

about 3 years ago
The WND development is projected to be the second biggest project (production wise) in Egypt after the massive Zohr development; Source: WintershallDea/Credit: BP
Business Developments & Projects

BP hands out multi-million deal for mega gas project in Mediterranean Sea

UK-headquartered energy giant BP has hired a compatriot drilling waste management specialist, TWMA, for its large-scale gas project off Egypt.

about 3 years ago
Fugro delivers milestone subsea inspection in the Middle East
Business Developments & Projects

Fugro delivers first-ever remotely operated subsea inspection in the Middle East

Fugro has carried out what is said to be the first-ever remotely operated subsea inspection using an uncrewed surface vessel (USV) in the Middle East. Having commissioned the region’s first-ever government-licensed USV in early 2023, Fugro has now carried out its first USV operation for a client in

about 3 years ago
Beihai Shipbuilding
Business Developments & Projects

VesselsValue: Tankers lead the demolition charge

Tankers took the lead in the demolition market, comprising approximately 43% of all scrapped cargo vessels in 2022, according to insights from VesselsValue. Despite this dominance, the number of tankers scrapped actually decreased by 55% YoY, dropping from 123 in 2021 to 55 in 2022. In comparison, t

about 3 years ago
FSO Safer with Yemen and Ndeavor moored alongside; Courtesy of Boskalis
Business Developments & Projects

With oil disaster averted, world breathes a sigh of relief but more funds needed to wrap things up

The way to secure the funds to complete the operation in full hangs in the air with around $20 million still missing.

about 3 years ago
Has the time come for ‘demolition flurry’ everyone was talking about to boost liner profits?
Business Developments & Projects

Has the time come for ‘demolition flurry’ everyone was talking about to boost liner profits?

The container shipping industry is grappling with a complex challenge – an overcapacity crisis. The surge in new containerships ordered during the pandemic, coupled with supply chain normalization at major ports and inland regions, has led to a flood of capacity that is profoundly disrupting the equ

about 3 years ago
BIMCO: Soaring containership deliveries to push fleet growth by 4.5 m TEU
Business Developments & Projects

BIMCO: Soaring containership deliveries to push fleet growth by 4.5 m TEU

Deliveries of new container ships during the first seven months of the year reached a new record high of 1.2 million TEU in 2023, beating the previous record by 0.2 million TEU, data from BIMCO shows. As recycling of ships has remained low, the fleet capacity has grown 4.3% since January. The contra

about 3 years ago
Adriatic I jack-up rig; Source: Shelf Drilling
Business Developments & Projects

With 35 out of 36 rigs contracted, Shelf Drilling’s backlog stands at $2.6 billion

Shelf Drilling has revealed higher revenue for 2Q 2023, compared to 1Q 2023, driven by higher day rates and effective fleet utilisation.

about 3 years ago
Cargill
Business Developments & Projects

ZeroNorth partners with Cargill to optimize over 600 vessels and drive green efficiency

Climate technology company ZeroNorth has signed a three-year contract with Swiss freight trader Cargill on the provision of software for optimisations across vessels and voyages. The deal will see ZeroNorth become the main optimisation partner for more than 600 vessels the aim being to drive efficie

about 3 years ago
King Abdullah Port pens strategic agreements with marine fuel suppliers
Business Developments & Projects

King Abdullah Port pens strategic agreements with marine fuel suppliers

King Abdullah Port has entered into a strategic partnership with two providers of marine fuel supply and services, Western Fuel Supply for Petroleum Products Company Limited and Minerva Bunkering.

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

Interview: After shattering records in green-methanol bunkering, OCI Global stresses the power of collaboration for a smooth transition

Green methanol is rapidly emerging as a transformative marine fuel, leading the charge in the maritime industry’s quest for sustainable and eco-friendly shipping operations, it is quickly becoming a prominent contender in the race to decarbonize the sector. As the imperative for decarbonization of t

about 3 years ago
Sungrow wins L&T supply contract for NEOM green hydrogen project
Business Developments & Projects

Sungrow wins L&T supply contract for NEOM green hydrogen project

Sungrow, a global inverter and energy storage system solution supplier, has signed a contract with Indian Larsen & Toubro (L&T) to supply inverter skid solutions for a 2.2 GWac PV plant for the NEOM green hydrogen project in Saudi Arabia. NEOM Green Hydrogen Company (NGHC), a joint venture created b

about 3 years ago
methanol powered tanker
Business Developments & Projects

July orders propel methanol past 200 ships mark

According to the latest data from DNV’s Alternative Fuel Insights (AFI) database, the month of July saw the addition of 14 LNG-fueled ships. Still, the real star of the show was methanol, with a staggering 48 methanol-fueled ships, including retrofits, joining the ranks. The July orders have pushed

about 3 years ago