Business & Finance
24 jack-up barges and 38 offshore support vessels join UAE player’s fleet
UAE’s ADNOC L&S has completed the acquisition of Zakher Marine International (ZMI) and expanded its fleet to over 300 vessels.
BIMCO’s CII clause says time charterers should bare the brunt of ships’ emissions
BIMCO, the world’s largest international shipping association, has adopted a CII Operations Clause for Time Charter Parties which aims to help the industry implement new carbon intensity requirements from the International Maritime Organization (IMO). The regulations on the carbon intensity of inter
Preparations underway for rig to carry out drilling ops off Gabon
BW Energy is setting the wheels into motion to drill the first well in its drilling programme for an oil development project off Gabon.
ZEUS becomes RINA’s 1st ship capable of running on hydrogen
A prototype ship named ZEUS (Zero Emission Ultimate Ship) with hybrid propulsion has been classed by the Italian classification society RINA, becoming its first ship capable of running on hydrogen. The vessel was developed as part of the research project named Technologies with Low Environmental Imp
Netherlands boosts industry consortium with €7.8M for offshore floating solar development
Dutch-Norwegian company SolarDuck and its consortium partners have received a €7.8 million project subsidy from the Netherlands Enterprise Agency (RVO) to develop, test and validate the Merganser floating solar energy platform in harsh North Sea weather conditions.
Morocco-UK power link attracts new investor
Conenergy, a Germany-based investor in the European energy industry, has joined the Xlinks Morocco-UK Power Project with a multi-million-pound investment. Xlinks and Conenergy have entered into a financial and strategic partnership to collaborate on the link that will offer an exclusive supply of re
Verlume rebrands energy management system and sets up new product manager role
Verlume, a specialist in clean energy system integration, intelligent energy management and energy storage, has appointed Robert Heron to the new role of product manager to help position the business for growth at scale.
Maran Dry Management to trial hydrogen production tech on LNG-powered bulker
Maran Dry Management Inc., a dry bulk shipping unit of the Angelicoussis Group, has signed a joint development project (JDP) agreement with the Italian classification society RINA and Shanghai Ship Research and Design Institute (SDARI) for an LNG and hydrogen-powered bulk carrier. The project will b
Contractor chosen for BP’s compression platform project in Caspian Sea
A joint venture between KBR and SOCAR has been awarded a contract by BP for the delivery of an unmanned compression platform in Azerbaijan.
Suez Canal Container Terminal formalizes $500 mln expansion deal with SCZONE
The Suez Canal Container Terminal (SCCT), majority owned and operated by Maersk’s APM Terminals, has signed a concession agreement with the Suez Canal Economic Zone (SCZONE) for the expansion of the terminal. The $500 million agreement purports “financing, design, construction, management, and opera
Subsea unit causes slight drop for Subsea 7 figures
Subsea 7 has reported a revenue of $1.4 billion for the third quarter of 2022, a decrease of $47 million or 3% compared to Q3 2021, mainly due to a drop in revenue in the Subsea and Conventional business unit. Revenue for the third quarter of the Subsea and Conventional unit was $990 million, a [&he
UK offshore workers down tools over pay dispute
UK’s Unite the union has confirmed that around 146 offshore workers have opted to take strike action due to a dispute over pay and benefits.
World’s 1st circular ship dismantling yard wins EU backing
Circular Maritime Technologies (CMT), a Dutch startup targeting to automate shipbreaking processes, has secured an EU subsidy that would help the company take the project to the next stage of development. CMT said that it won a subsidy as part of the Kansen voor West III, a program largely financed
Issues at North Sea field cut down Norwegian player’s production outlook
Norwegian oil and gas company OKEA is reducing its production outlook for 2023 following news that limited production is expected from a field in which it had recently purchased a stake. Operator Wintershall Dea Norge informed OKEA that issues with the water injectors at the Nova field may limit its