Business & Finance
Denmark joins co-sponsors of $5 bn research fund to decarbonize shipping
Denmark has joined as a co-sponsor of the proposal to create a $5 billion International Maritime Research and Development Board (IMRB) was submitted to the UN’s International Maritime Organisation (IMO). The proposal was submitted on the 10th of March 2021 by Georgia, Greece, Japan, Liberia, Malta,
Vår Energi to extend the life of Norwegian subsea field
Vår Energi has received consent from the Norwegian offshore authority to use the subsea facilities on the Marulk field beyond their original operating life.
Danes issue discussion paper on energy island procurement
The Danish Energy Agency has published a discussion paper on the procurement framework for the commercial co-ownership of the Energy Island in the North Sea. The discussion paper contains a number of themes and questions that are relevant to the procurement framework for co-ownership of the Energy I
Russia to grant subsidies for Far North-bound newbuilds
The Russian government has decided to provide subsidies for newbuild vessels destined for the Far North region.
Noreco names Sapura man its new COO
Norwegian Energy Company (Noreco) has appointed John Hulme as Chief Operating Officer (COO), effective Monday, 15 March 2021.
New marine survey player Nicola Offshore opens for business
Nicola Offshore, a new German-based company specialising in turnkey services for marine survey campaigns, has started operations from its headquarters in Hamburg.
Eni gears up to drill Montenegro well as rig arrives
Italy’s oil and gas company Eni and Russia’s Novatek will start drilling an exploration well in waters offshore Montenegro later this month.
Innovation Fund Denmark bankrolls consortium to commercialize sustainable fuels
A consortium of 17 partners from Denmark and other European countries have received more than DKK 30 million ($ 4.8 million) from Innovation Fund Denmark to bring the production of sustainable fuels for aircraft and ships to the stage of commercialization. The project, named Low Carbon fuels for avi
BW Ideol raises € 57 million in private share placement
The private placement of new shares for BW Ideol has been completed ahead of the new company’s listing on the Oslo Stock Exchange in the coming days. A total of NOK 575 million (€ 57 million) in gross proceeds has been raised: NOK 500 million (€ 50 million) through the placement of new shares and [&
RWE and ORE Catapult to study production of concrete floaters in Scotland
RWE has partnered with Offshore Renewable Energy (ORE) Catapult to study the potential for Scottish businesses to produce commercial-scale concrete foundations for floating wind projects. The study will identify key manufacturing and fabrication methodologies and constituent materials required to pr
Poland approves PGE and PKN Orlen’s offshore wind joint ventures
The Polish Office of Competition and Consumer Protection (UOKiK) has approved the construction of offshore wind farms through joint ventures between foreign companies and Poland’s Polska Grupa Energetyczna (PGE) and PKN Orlen. The authority issued two decisions on 12 March, one for each of the two P
RWE taking majority ownership of Rampion offshore wind farm
German energy company RWE has taken over an additional 20 per cent stake in the Rampion wind farm off the UK from E.ON. Following the closing of the transaction in the first half of 2021, RWE will control a 50.1 per cent stake in the 400 MW wind farm off Sussex. Confidentiality has been agreed [&hel
Minesto and Schneider Electric form alliance to commercialize marine energy
Marine energy developer Minesto and Schneider Electric have signed a memorandum of understanding to work together to develop and build ocean energy farms based on Deep Green technology.
Demolition of crude oil tankers: All talk and little walk
The industry buzz around large scale demolition of crude oil tankers has brought little tonnage to the scrapyards crushing market recovery hopes pinned on scrapping, BIMCO said. The year 2021 has been tough on crude oil tanker freight rates across the board so far. Nevertheless, there has been all t