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Business & Finance

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Maersk
Business & Finance

Maersk adds Swiss renewable methanol producer to its low-carbon fuel portfolio

Maersk Growth, the venture arm of Danish shipping giant A.P. Moller-Maersk, has added Switzerland-based cleantech and engineering company Methanology AG to its low-carbon fuel portfolio. Methanology focuses on developing technologies capable of producing large quantities of renewable methanol using

about 3 years ago
The Insight Partners: Green hydrogen market to grow to $88 billion by 2030
Business & Finance

The Insight Partners: Green hydrogen market to grow to $88 billion by 2030

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According to the “Green hydrogen market forecast to 2030 – COVID-19 impact and global analysis – technology (alkaline electrolysis and PEM electrolysis), renewable source (wind energy, solar energy and others), end-use industry (chemical, power, food & beverages, medical, petrochemicals and others)

about 3 years ago
North Sea oil project comes on stream ahead of schedule
Business & Finance

North Sea oil project comes on stream ahead of schedule

Norway’s state-owned energy giant Equinor has brought on stream the Breidablikk field in the Norwegian sector of the North Sea four months ahead of schedule. The Breidablikk field, which commenced production on October 20, holds almost 200 million barrels of recoverable oil. Its plateau production i

about 3 years ago
Aker BP and Odfjell Technology ink $9 million contract
Business & Finance

Aker BP and Odfjell Technology ink $9 million contract

Norwegian oil and gas player Aker BP has awarded Odfjell Technology with a frame agreement for the provision of heating, ventilation, air conditioning, and refrigeration (HVAC+R) engineering and maintenance services. The agreement encompasses all of Aker BP’s existing assets, including Ula, Valhall,

about 3 years ago
Minesto’s Dragon 4 tidal energy kite (Courtesy of Minesto)
Business & Finance

Minesto widens interim loss

Swedish tidal energy developer Minesto has reported an increase in net loss for the first nine months of fiscal year 2023, compared to the same period a year earlier.

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

Mittal: Shipowners need to start locking in long-term supply of green fuels

In order to catch up with the ambitions of decarbonization targets for the maritime industry, shipowners are being encouraged to start proactively securing long-term contracts for green fuels from serious players as the availability of these fuels is likely to be restricted amid demand from other se

about 3 years ago
A bunch of tenders coming up for second Malta-Sicility interconnector
Business & Finance

A bunch of tenders coming up for second Malta-Sicily interconnector

InterConnect Malta has launched a tender for the transformer and shunt reactors for the second Malta to Sicily electrical interconnector. This is the first of a number of tenders upcoming for the project. The interconnector will consist of a new ~118-kilometer-long 225 MW HVAC electrical cable inter

about 3 years ago
Noble jack-up rig drops anchor prior to Harbour Energy job
Business & Finance

Noble rig drops anchor in UK’s newest harbor before work for Harbour Energy

Noble Corporation’s jack-up rig Noble Intrepid has arrived at the Port of Aberdeen before mobilizing for Harbour Energy’s field in the North Sea. Port of Aberdeen announced on October 17 that it had welcomed the Noble Intrepid to Aberdeen South Harbour, where it will undergo reactivation work scopes

about 3 years ago
Norwegian firm to deliver compressors for SBM Offshore’s new FPSO
Business & Finance

Norwegian firm to deliver compressors for SBM Offshore’s new FPSO

China Merchant Heavy Industries (CMHI) has contracted Norway-headquartered TMC Compressors to deliver the completed marine compressed air system for a newbuild FPSO the Chinese yard is constructing for Dutch FPSO operator SBM Offshore. Under the contract whose value remains undisclosed, TMC will pro

about 3 years ago
Michael Parker
Business & Finance

Parker: Shipping financing will not be the same

Green corridors are likely to transform the realm of shipping finance as the focus shifts from emissions from ships to the entire supply chain, according to Michael Parker, Chairman of the Poseidon Principles. Parker spoke on a panel on Wednesday as part of the launch of Progress Toward Shipping’s 2

about 3 years ago
CoolCo secures sale and leaseback financing for two newbuild LNG carriers
Business & Finance

CoolCo secures sale and leaseback financing for two newbuild LNG carriers

Cool Company (CoolCo) has entered into sale and leaseback financing arrangements with Huaxia Financial Leasing for two LNG carriers that are being built by Hyundai Samho Heavy Industries in South Korea. Following the earlier announcement of the purchase of two 2-stroke LNG carrier newbuilds, namely

about 3 years ago
Start-up of Denmark’s largest natural gas field expected early next year
Business & Finance

Start-up of Denmark’s largest natural gas field expected early next year

The TotalEnergies-operated Tyra redevelopment project in Danish waters is expected to produce first gas early in the first quarter of 2024 and reach plateau production in the second quarter of the year – earlier than previously communicated. Tyra is Denmark’s largest natural gas field and has been a

about 3 years ago
Five subsea contractors in the run for pipeline contract for North Sea gas project
Business & Finance

Five contractors in the run for pipeline contract for North Sea gas project

Hartshead Resources NL and its joint venture partner RockRose have launched an invitation to tender for pipeline EPCI services for the Anning and Somerville fields located in the Southern North Sea, following completion of the pipeline route survey covering the offtake routes for gas production from

about 3 years ago
Urgent action needed to reach 5% zero-emission fuel target by 2030, says new report
Business & Finance

Urgent action needed to reach 5% zero-emission fuel target by 2030, says new report

In the race to achieve the 5% target for scalable zero-emission fuel (SZEF) goal by 2030, the global shipping industry has made significant progress over the past year, as revealed in a recent report from UMAS, Getting to Zero Coalition, and Race to Zero. The developments are promising, but as the 2

about 3 years ago