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Business & Finance

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Illustration; Source: International Energy Agency (IEA)
Business & Finance

Net-zero puzzle needs multiple pieces in place: Tripling renewables and slashing oil & gas emissions

Multiple sources of supply vie for attention in the journey to net-zero, with renewables being crown jewels.

about 3 years ago
'Major' contract for CRP Subsea in Brazil's deep waters
Business & Finance

‘Major’ contract for CRP Subsea in Brazil’s deep waters

England-based CRP Subsea, part of AIS, has secured a contract with an “energy technology company” for the supply of distributed buoyancy modules (DBMs) for a deepwater oil field offshore Brazil. Under the contract described as “major”, CRP Subsea will deliver 333 DBMs which will be used on three fle

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about 3 years ago
TECO 2030 and partners win €13.5mln EU grant for H2-powered ferry project
Business & Finance

TECO 2030 and partners win €13.5mln EU grant for H2-powered ferry project

Norway’s cleantech company TECO 2030 and its partners have been awarded a €13.5 million Horizon Europe grant to build and demonstrate a passenger ferry powered by TECO 2030 fuel cells. Specifically, the partners’ project has been invited for Horizon Europe grant agreement preparation. The project’s

about 3 years ago
NYK NBA MAGRITTE
Business & Finance

NYK breaks new ground with its 1st ever wind-assisted propulsion installation

NYK Bulkship (Atlantic) N.V., a subsidiary of the NYK Group headquartered in Antwerp, Belgium, will introduce a wind-assisted ship-propulsion unit on one of its vessels currently under a long-term charter contract with Cargill International S.A., a prominent Swiss-based freight trader. The initiativ

about 3 years ago
Petronas
Business & Finance

Drilling campaign bears fruit as six new oil & gas discoveries pop up off Malaysia

Petronas has undertaken a drilling campaign, which unveiled multiple new oil and gas discoveries in five blocks off the coast of Sarawak, Malaysia.

about 3 years ago
Hitachi Energy, Sumitomo Electric and Van Oord selected for Scottish subsea cable projects
Business & Finance

Hitachi Energy, Sumitomo Electric and Van Oord selected for Scottish subsea cable projects

Just shortly after announcing NKT as the preferred bidder for the power cable systems, SSEN Transmission revealed it had selected Hitachi Energy to deliver the HVDC converter system for two HVDC transmission links offshore Scotland. Hitachi Energy has been given the preferred supplier status for the

about 3 years ago
DNV UAE decarbonization centre
Business & Finance

UAE partners with DNV to set up maritime decarbonization centre

United Arab Emirates (UAE) has teamed up with Det Norske Veritas (DNV) on the establishment of a new UAE Decarbonization Centre. H.E Suhail Al Mazrouei, Minister of Energy and Infrastructure, and Knut Ørbeck-Nilssen, CEO DNV Maritime signed a Memorandum of Understanding (MOU) on establishing the fac

about 3 years ago
Construction starts for first US subsea rock installation vessel
Business & Finance

Construction starts for first US subsea rock installation vessel

U.S. dredging services provider Great Lakes Dredge & Dock Corporation has held the steel-cutting ceremony for the construction of what is said to be the first U.S. offshore wind subsea rock placement vessel. The ceremony marking the start of construction for the Acadia vessel was held on 20 July at

about 3 years ago
HMM
Business & Finance

HMM Privatization: Bidding kicks off for South Korea’s flagship carrier

The bidding process for the privatization of South Korea’s flagship carrier HMM was officially launched on Thursday in South Korea. The move was confirmed by HMM in a regulatory filing saying that the company’s largest shareholders, government-run banks, Korea Development Bank (KDB), and Korean Ocea

about 3 years ago
cargo ship Hokurenmaru No.2
Business & Finance

Japan takes its autonomous shipping to the next level

Japan’s maritime industry is taking significant strides towards the full-scale commercialization of fully autonomous ships, thanks to the MEGURI2040 Fully Autonomous Ship Project. This collaborative effort, administered by the Nippon Foundation and involving 51 companies under the Designing the Futu

about 3 years ago
Ocean BlackHawk drillship; Source: Diamond Offshore
Business & Finance

One Diamond Offshore drillship done with its job while another continues work off Africa

Diamond Offshore has confirmed that one of its drillships wrapped up its drilling work at Senegal’s first offshore oil development last week.

about 3 years ago
Johan Sverdrup field; Credit: Lizette Bertelsen/Jonny Engelsvoll/Equinor
Business & Finance

Norway throws importance of oil & gas for Europe’s energy security into stark relief

Norway stepped up to help alleviate Europe’s energy woes, becoming the continent’s largest gas supplier in the process.

about 3 years ago
Waves4Power's WaveEl wave energy system (Courtesy of Waves4Power)
Business & Finance

Swedish wave energy company gets onboard Alaska’s decarbonization accelerator

Swedish company Waves4Power has been selected to participate in Launch Alaska’s 2023 Tech Deployment Track, a program which accelerates decarbonization and deployment of climate tech solutions by helping companies forge partnerships and identify projects in Alaska.

about 3 years ago
ABS
Business & Finance

ABS greenlights Japanese fully autonomous ship framework

The American Bureau of Shipping (ABS) has issued an approval in principle to the fully autonomous ship framework named Action Planning and Execution System for full autonomous (APExS-auto). The system was developed by Nippon Yusen Kabushiki Kaisha (NYK), Monohakobi Technology Institute (MTI), and Ja

about 3 years ago