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Business & Finance

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Ocean Winds sells stake in 500 MW French offshore wind farm to Allianz for €200 million
Business & Finance

Ocean Winds sells stake in 500 MW French offshore wind farm to Allianz for €200 million

Ocean Winds, a joint venture of EDPR and Engie, has decided to sell a minority stake in the 500 MW Îles d’Yeu and Noirmoutier offshore wind farm in France to Allianz Global Investors. Under the agreement, Ocean Winds will sell a 20.25% stake in the project for an equity value of €200 million, implyi

about 1 year ago
Pioneering Spirit removes Eider Alpha platform; Source: Allseas
Business & Finance
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WATCH: Allseas, TAQA pull off North Sea decom milestone with 11,600-tonne platform removal

Allseas has added a new decommissioning feat to its book of achievements with the removal of a platform in the Northern North Sea (NNS).

about 1 year ago
LNG carrier; Courtesy of Wärtsilä
Business & Finance

Wärtsilä and TMS Cardiff Gas renew LNG heptad deal for vessel ops support

Finnish technology group Wärtsilä is staying longer on the liquefied natural gas (LNG) carrier lifecycle duty with Greece’s TMS Cardiff Gas, part of TMS, thanks to a multi-year deal for seven LNG vessels.

about 1 year ago
NKT invests in cable lay barge from Boskalis
Business & Finance

NKT invests in cable lay barge from Boskalis

Danish power cable manufacturer and installation firm NKT has made an investment in a cable lay barge from Dutch Boskalis, further strengthening its offshore cable installation tools and capabilities. NKT is planning to upgrade the Boka Constructor and modernize it for near-shore cable laying and bu

about 1 year ago
C40 Cities
Business & Finance

UCL: Climate transition could hit South Korean, Chinese, and European shipping financiers hardest

European, Chinese and South Korean financiers have over half of their portfolio tied to oil and gas carriers that are most at risk of becoming stranded assets in the global rush to shift to a low-carbon energy system, a new report by UCL’s Energy Institute Shipping and Oceans Research Group suggests

about 1 year ago
Funding to accelerate 'sea snake' wave energy converter toward sea trials
Business & Finance

Funding to accelerate ‘sea snake’ wave energy converter toward sea trials

UK’s national innovation agency Innovate UK has awarded a £750,000 (approximately €861,630) grant to a Wiltshire-based company to help advance the technology readiness and performance of its ‘sea snake’ wave energy converter (WEC) and pave the way for future sea trials at the Welsh Marine Energy Tes

about 1 year ago
Vantage Drilling’s Tungsten Explorer drillship; Credit: Greg Williams
Business & Finance

Cronos nexus unbound: Egypt and Cyprus put pen to paper for gas field development

With the aim of strengthening energy security through strategic collaboration, Egypt and Cyprus have inked multiple commercial agreements for a natural gas project, which will forge an energy bond between the two countries, enabling Cypriot gas to reach Egypt’s infrastructure.

about 1 year ago
‘World’s largest’ cable laying vessel launches, sea trials on schedule
Business & Finance

‘World’s largest’ cable laying vessel launches, sea trials on schedule

Jan De Nul has launched its first XL cable-laying vessel (CLV), Fleeming Jenkin, with the final vessel construction phase now starting, including sea trials. Jan De Nul announced in October 2023 that it had placed an order for Fleeming Jenkin at China’s CMHI Haimen shipyard, followed by an order for

about 1 year ago
Swedish tidal energy developer sees South Korea as ‘highly attractive market’
Business & Finance

Swedish tidal energy developer sees South Korea as ‘highly attractive market’

Swedish tidal energy developer Minesto has taken part in a high-level delegation visit to South Korea, a country that the company finds highly attractive due to its “extensive tidal and ocean current resources”. Minesto CEO Martin Edlund was part of a Swedish high-level delegation to South Korea aim

about 1 year ago
Six industry majors unite to commercialize cost- and emission-cutting subsea flowline heating tech
Business & Finance

Six industry majors unite to commercialize cost- and emission-cutting subsea flowline heating tech

DeepOcean as the project owner and its five partners have launched a joint industry project to commercialize an innovative subsea flowline heating technology designed to reduce manufacturing and installation costs by up to 35% and carbon emissions by 30% through the separation of pipeline and heatin

about 1 year ago
Grain LNG
Business & Finance

QatarEnergy makes use of ‘largest LNG receiving terminal’ in Europe

QatarEnergy has started utilizing liquefied natural gas (LNG) storage and regasification capacity at a giant LNG terminal in the UK, which is described as Europe’s largest LNG regasification terminal, located at Isle of Grain to the east of London.

about 1 year ago
Viking Vigor
Business & Finance

Turkish-built, methanol-powered subsea vessel faces deferred delivery

The delivery of a next-generation subsea vessel being built at the Turkish Sefine Shipyard for Norway’s Eidesvik Offshore and Agalas has been delayed for the third quarter of 2026, instead of the initial plan for early next year. The 100-meter-long Viking Vigor will be powered by methanol and, upon

about 1 year ago
Norwegian Cruise Line and Repsol ink long-term renewable marine fuels deal
Business & Finance

Norwegian Cruise Line and Repsol ink long-term renewable marine fuels deal

Cruise company Norwegian Cruise Line Holdings (NCLH) and Spanish multi-energy player Repsol have established “an unprecedent long-term relationship within the cruise industry” with a landmark 8-year agreement covering supply of renewable marine fuels at the Port of Barcelona.

about 1 year ago
Dana-operated FPSO Triton lies approximately 6 km to the northeast in the UK Central North Sea; Source: Tailwind Energy
Business & Finance

North Sea FPSO back online after temporary production halt

Serica Energy has disclosed the restart of production from a floating production, storage, and offloading (FPSO) vessel, which is deployed at its North Sea asset on the UK Continental Shelf (UKCS).

about 1 year ago