Business & Finance
Hapag-Lloyd won’t need state aid to survive COVID-19 crisis
German container shipping major Hapag-Lloyd intends to navigate through the coronavirus crisis without seeking state aid.
Odfjell rig heads to South Africa for Total drilling campaign
Odfjell Drilling’s semi-submersible drilling rig Deepsea Stavanger has mobilized from Norway to South Africa for a drilling campaign with Total.
Silverstream Technologies to work on maximizing its air lubrication system’s potential through machine learning
Air lubrication technology manufacturer Silverstream Technologies in collaboration with the University of Southampton, has been awarded an Innovate UK Knowledge Transfer Partnership (KTP) grant. Under the two-year partnership, an associate of the university will work with Silverstream’s technical te
Oscilla kicks off crowdfunding campaign
The Seattle-based company Oscilla Power has launched a crowdfunding campaign on MicroVentures. Specifically, through this campaign, Oscilla is looking to raise up to $1 million. Oscilla Power’s flagship product is the Triton wave energy converter. The device consists of a large surface float connect
Marine Power Systems sets up crowdfunding campaign
Marine Power Systems (MPS) has launched a crowdfunding campaign with Seedrs. MPS has patented technology to harness floating wind power, wave power or combined wind and wave energy at grid scale. It claims that this flexible approach is unique globally. The UK company’s R&D of its wave energy device
Hornsea Three offshore wind project hits another snag
The UK’s Secretary of State for Business, Energy and Industrial Strategy (BEIS) has once again postponed the deadline for the decision on Ørsted’s development consent order (DCO) application for Hornsea Project Three. The Secretary of State is minded to approve this application subject to further in
Companies team up to develop Singapore’s first carbon capture system
Keppel Data Centres, Chevron, Pan-United, and Surbana Jurong, with the support of Singapore’s National Research Foundation, have signed a memorandum of understanding (MOU) to jointly develop the first end-to-end decarbonisation process in Singapore.
Wellesley ready to use Dolphin rig for Norwegian well
Wellesley Petroleum has received consent from the Norwegian offshore safety authority for exploration drilling in the Norwegian Sea using the Borgland Dolphin rig.
CMES takes full control over Singapore bunkering unit
China Merchants Energy Shipping (CMES) has agreed to acquire 70% of equity interest in Singapore-based bunker trader China Merchants Energy Trading (CMET) from a sister company China Merchants Hoi Tung. The tanker and oil shipping giant said the move was aimed at ensuring a sustainable supply of fue
Polish govt and wind energy industry sign offshore wind co-op deal
The Polish government and representatives from the local wind energy industry have signed a Letter of Intent (LoI) to cooperate on the development of offshore wind in Poland. The letter, signed on 1 July, defines the next steps in the collaboration to jointly develop a strong wind industry in Poland
LOC nets another offshore wind contract in Far East
A couple of days after securing a marine warranty job on a Vietnamese project, and on top of the recently won contracts for offshore wind farms in China and Taiwan, LOC Group informed it was also awarded a contract for the Zhanjiang Wailuo II and X offshore wind farms in China. Under the contract, w
Eversendai to buy liftboat operator Vahana
Eversendai has decided to acquire a 100 per cent equity interest in service provider Vahana Offshore and its subsidiaries for a purchase consideration price of RM235 million ($54.8 million).
Petrobras looking to sell Tartaruga field stake
Brazilian oil firm Petrobras has started the opportunity disclosure stage (teaser) regarding the sale of its stake in the shallow-water Tartaruga field located in the Sergipe Alagoas Basin offshore Brazil.
Marine Energy Wales releases new ‘State of the Sector’ report
Marine Energy Wales new report shows that a total of £123.7 million has been invested into the Welsh economy. The latest ‘State of the Sector’ report outlines findings from a survey carried out by Marine Energy Wales which reviewed activity and investment made in the Financial Year 2019-20 to assess