Business Developments & Projects
Ulstein unveils new subsea vessel
Norwegian shipbuilder and ship designer Ulstein has developed a new subsea vessel for floating and fixed installations in the offshore wind market, as well as for offshore oil & gas. Ulstein said that the SX232 is based on three core principles, including an optimized hull design based on the Ulstei
PowerCell: Green hydrogen via fuel cells to play major role in maritime decarbonization
Marine hydrogen fuel cells have emerged as one of the zero-emission solutions that is fast maturing. With their commerciality improving, the popularity of fuel cells is yet to grow amid the global fight to decarbonize shipping.
Another ‘significant’ oil discovery springs up offshore Namibia
Oil boom continues in Namibia as the African country is now richer for another discovery.
Swansea University trials tidal turbine at Wales’ Marine Energy Test Area
A tidal turbine made to operate in remote communities has been tested and utilized at Wales’ Marine Energy Test Area (META). Swansea University researchers, under the leadership of Professor Ian Masters, are developing the device. Testing is conducted at META’s Warrior Way site in Pembroke Dock. “It
Lifting operation wraps up for ‘core’ piece of Eni’s Congo LNG project
Wison New Energies has hoisted the first SPB tank for Eni’s Congo LNG project into hull cargo hold space at the Nantong yard.
Noble drillship going to Philippines for offshore drilling campaign
Noble Corporation has won a new multi-well assignment off the coast of the Philippines for one of its drillships.
BP, Equinor and TotalEnergies pick 9 contractors for UK’s two ‘vital’ decarbonization projects
BP, Equinor and TotalEnergies have selected nine contractors for engineering, procurement, and construction contracts, with a combined value of around £4 billion, for two projects being developed in Teesside that are said to be vital for the UK’s decarbonization journey. Net Zero Teesside Power (NZT
Hanwha Ocean joins forces with BV for 270K LNG carrier development
Classification society Bureau Veritas (BV) and South Korean shipbuilder Hanwha Ocean have completed a joint development project (JDP) for the development of a 270,000 cubic meter (cbm) LNG carrier, resulting in certification of the hull design.
South Korean researchers develop new control method for autonomous ship navigation
A research team from National Korea Maritime & Ocean University in South Korea has developed a new control method that can optimize autonomous ship navigation.
Asyad Shipping teams up with LR on ESG reporting
Asyad Shipping, part of Asyad Group, and classification society Lloyd’s Register (LR) have partnered to deliver the Omani national shipping company’s first Environmental, Social and Governance (ESG) report, in line with the established Global Reporting frameworks.
With ‘outstanding’ financial results in 2023, Prysmian increases its decarbonization ambition
Italian cabling giant Prysmian in 2023 delivered what it says was a “remarkable performance” with “outstanding” financial results, record backlog in Transmission, as well as increased 2030 emission reduction ambition. For the financial year 2023, Prysmian’s adjusted EBITDA rose by 9.4% to €1,628 mil
Egypt concludes seven deals for green hydrogen projects in SCZONE
The Egyptian government has signed seven memoranda of understanding (MoU) with international developers to set up green hydrogen and renewable energy projects in the Suez Canal Economic Zone (SCZONE).
Texas LNG advances to execution phase of project financing
Texas LNG has received sufficient expressions of interest from project finance banks to move to the execution phase of project financing.
Minesto finds partner for expansion into Australian and New Zealand markets
Marine energy technology company Minesto has inked a collaborative agreement with Hydrokite Project Development, an ocean current and tidal energy project developer, to bring its technology to markets in Australia and New Zealand. The broadened market presence in Australia and New Zealand is directe