Business & Finance
Companies team up to build world’s first shallow draft ice-breaking W2W vessel
Royal Niestern Sander shipyard and a joint-venture between Mercury Sakhalin and Pola have signed an agreement for the construction of the world’s first shallow draft ice-breaking walk to work vessel.
COSL, Equinor ink new master framework agreement
COSL Drilling Europe (CDE) has signed a master framework agreement with Equinor on the Norwegian Continental Shelf, that fully enables it to provide additional drilling units and services to the oil major.
Iberdrola raring to bid in next offshore wind auctions in France
Spanish energy giant Iberdrola is very interested in participating in future offshore wind capacity auctions in France, the company’s CEO and Chairman Ignacio Galán, said. This comes as Iberdrola announced it will invest between €3 billion and €4 billion in renewable energy projects in France over t
Aker BP looking to decrease carbon footprint with new tech deal
Norwegian oil and gas company Aker BP has signed an agreement with compatriot maritime tech company Yxney Maritime for a software solution which would assist with offshore carbon emission cuts.
Vattenfall mulling options after Thanet Extension setback
Vattenfall is set to consider how to proceed with the Thanet Extension offshore wind project after the UK Secretary of State refused its development consent order (DCO) application. Commenting on the decision, Danielle Lane, UK Country Manager for Vattenfall, said: “Naturally we’re very disappointed
Ocean Installer sets up offshore wind unit
Norway’s Ocean Installer has established a new business segment for the offshore wind sector. The Stavanger-based company has appointed Even Larsen as the Director of Offshore Wind, starting from 1 August. “I am very excited about this new chapter for our company, which makes Ocean Installer relevan
Malaysia’s MISC appoints ex-minister as chairman
Malaysian liquefied natural gas shipping firm MISC has appointed former minister Tan Sri Noh Omar as its new chairman. Noh takes over as chairman from Datuk Ab Halim Mohyiddin who remains as an independent and non-executive director of the shipping company. The appointment of 62-year-old Noh is effe
DCO application rejected for Thanet Extension offshore wind project
The UK Secretary of State for Business, Energy and Industrial Strategy (BEIS) has refused Vattenfall’s development consent order (DCO) application for the Thanet Extension offshore wind project. The conclusion behind the decision is that Vattenfall failed to demonstrate sufficient mitigation of ris
More oil and gas assets up for grabs due to Covid-19, Rystad says
Oil and gas companies currently have assets for sale with recoverable reserves of more than 5 billion barrels of liquids and 7.5 billion barrels of oil equivalent (boe) of natural gas, Rystad Energy estimates.
CMA CGM sets sights on becoming carbon neutral by 2050
French container shipping major CMA CGM is joining Maersk in committing to an industry goal of becoming carbon neutral by 2050. Speaking at the UN Global Compact on June 2, Rodolphe Saadé, the company’s CEO, announced CMA CGM’s plans of switching 10 % of its energy supply to alternative fuels by 202
Stena Line: We are 10 years ahead of the industry’s emission reduction targets
Ferry shipping company Stena Line has cut its total CO2 emissions by 1.7 %, corresponding to 24,000 tonnes of CO2 in total, the company said in its sustainability report for 2019. The report further indicates that ferry owners and operator managed to reduce its CO2 emissions per transported ton frei
Fécamp foundations contract valued at € 552 million
Bouygues Construction, Saipem and Boskalis will supply and install the wind turbine foundations for the Fécamp offshore wind farm under a € 552 million contract with the project developer. The contract value is divided between each of the three contractors according to to their share of work scope:
Prosafe gets relief from lenders while working on long-term plan
Prosafe has gained support to an extension to the forbearance arrangement with a majority of its lenders until the end of June while working to agree on a long-term financial solution.
EU approves Finnish aid scheme to support maritime firms hit by coronavirus
The European Commission has approved a €600 million (about $671 million) Finnish guarantee scheme to support the maritime companies in the context of the coronavirus outbreak.