Business Developments & Projects
Terntank orders new wind/methanol-ready hybrid tankers
Swedish shipping company Terntank is continuing its journey towards fossil-free operation with an order for two plus two new wind assistance and methanol-ready tankers. On 29 November, the company said it placed an order for the 15,000 dwt tankers at China Merchants Jinling Shipyard, Yangzhou. The v
UK needs £75bn for its shipping sector to transition to zero
Approximately £75bn ($89.9 bn) of investment over the coming three decades will be required for the UK’s domestic maritime sector to transition to net zero, a report produced by Marine Capital with the support of UMAS and Lloyd’s Register (LR) estimates. Hence, attracting new sources of capital to i
Horisont Energi and E.ON team up on industrial-scale CO2 storage in the North Sea
Norwegian clean energy company Horisont Energi and its Germany-based counterpart E.ON have signed a letter of intent to jointly build a European carbon value chain. This deal will see E.ON provide more than one million tons of existing CO2 per year from its European customer sites by 2030, starting
Maersk, IBM pull the plug on TradeLens
Danish container shipping major Maersk and IBM have decided to withdraw the TradeLens offerings and discontinue the platform. The blockchain-enabled shipping solution was created in 2018 with the aim of promoting more efficient and secure global trade, bringing together various parties to support in
£20 bln decom spend in the offing for UK’s oil & gas wells over next decade
Offshore Energies UK has predicted that about £20 bln will be spent on decommissioning North Sea oil & gas installations in the next decade.
Watch: The world’s largest ship equipped with a wind deflector turns heads as it tours European ports
ONE Trust, a 20,170 TEU containership owned by Japanese shipowner Ocean Network Express (ONE), is showcasing an innovative device installed on its bow, a wind deflector. The device has been installed at Qingdao Beihai shipyard in China during the vessel’s recent drydock. ONE Trust was built in 2017
UNCTAD: GHG emissions from the world’s maritime fleet heading in wrong direction
Greenhouse gas emissions from the world’s maritime fleet increased by 4.7%, between 2020 and 2021, with most of the increase coming from container ships, dry bulk carriers and general cargo vessels, the latest Maritime Transport report from UNCTAD warns. Another worrying trend is the fact that the f
With Celtic Interconnector deal in the bag, Nexans tucks ‘important milestone’ under its belt
A deal for the Celtic Interconnector project brings Nexans closer to becoming a pure electrification player.
QatarEnergy agrees to supply LNG to Germany for at least 15 years
QatarEnergy has signed two long-term LNG sale and purchase agreements with ConocoPhillips affiliates to deliver up to 2 million tons per annum (mtpa) of LNG from Qatar to Germany. Under the two agreements, a ConocoPhillips wholly-owned subsidiary will purchase the agreed quantities to be delivered e
How is the transition to renewables faring in the midst of a global energy crisis?
Westwood Global Energy has done a deep dive into the impact of the energy crisis on the energy transition to a sustainable, green future.
New North Sea assignments for DeepOcean with offshore wind and oil & gas players
DeepOcean has been awarded substantial contracts by three oil majors – Equinor, ConocoPhillips and BP – for work in the North Sea.
LNG-powered Aurora Botnia slashes Wasaline’s CO2 emissions
The Finnish–Swedish ferry operator Wasaline has been able to cut its CO2 emissions in half since the arrival of its new LNG-powered ferry Aurora Botnia over a year ago. The ferry entered service between Vaasa, Finland and Umeå, Sweden in the autumn of 2021. The Aurora Botnia is a 150-meter car and p
Equinor’s Norwegian Sea wildcat comes up empty
Norwegian state-owned energy giant Equinor has completed the drilling of a wildcat well in the Norwegian Sea but failed to find hydrocarbons.
Shell spending $2 billion to buy the largest biomethane producer in Europe
Shell Petroleum, a wholly-owned subsidiary of Shell, has entered into an agreement to acquire 100% shareholding of Nature Energy Biogas, a Denmark-based producer of renewable natural gas (RNG), for nearly $2 billion. By purchasing the shares in Nature Energy, Shell said it will acquire the largest R