Business & Finance
MOL: Despite teething problems, effectiveness of Wind Challenger on par with expectations
The Shofu Maru, the world’s first bulk carrier to be partially powered by wind, has completed its maiden voyage, putting the hardsail system installed onboard through its paces on a route from Japan to Australia and back. The so-called Wind Challenger system is a telescoping hardsail that harnesses
WasteFuel, Averda to produce green methanol for shipping in the Middle East
Averda, a waste management and recycling company, and WasteFuel, a developer of bio-refineries focused on converting municipal solid waste into low-carbon fuels, have announced their partnership during the COP27 Climate Conference targeting the development of the first commercial-scale municipal was
Malaysian operator orders two more vessels from Strategic Marine
Singapore’s Strategic Marine has won a contract to deliver two Fast Crew Boats (FCB) to Malaysia’s Centus Marine.
Construction begins on JDR’s new subsea cable factory
JDR Cable Systems has begun the construction of its new subsea cable manufacturing facility in Cambois, near Blyth, Northumberland. The 69,000 sqm factory is set to deliver subsea cable manufacturing technology to the offshore wind market and is currently providing 171 local jobs for the constructio
Panama, Uruguay, and Norway join Clean Energy Marine Hubs initiative at COP27
The governments of Panama, Uruguay, and Norway have signed up to the Clean Energy Marine Hubs Initiative, a worldwide cross-sector initiative aimed at catalyzing the supply of green fuels, and supporting the global energy transition. The announcement was made on Monday in Egypt at the 27th United Na
Aker BP cleared to drill wildcat well in North Sea
The Norwegian Petroleum Directorate (NPD) has granted Aker BP a drilling permit for a wildcat well in the North Sea offshore Norway.
DP World earmarks $500 million to cut CO2 emissions across its business
Dubai-based logistics heavyweight DP World plans to invest up to $500 million to cut CO2 emissions from its operations by nearly 700,000 tonnes over the next five years. The move was announced by the company’s Chairman and Group CEO, Sultan Ahmed Bin Sulayem while he was addressing delegates at the
New gas discovery off Israel for Energean
Oil and gas company Energean has made another commercial gas discovery in an exploration well offshore Israel.
Shell signs ‘large’ cellulosic ethanol deal with Raízen amid growing sustainable fuel demand
Energy giant Shell has entered into a long-term agreement with Brazil’s Raízen to buy a total of 3.25 billion litres of sugar-crane cellulosic ethanol in a bid to meet growing demand for sustainable fuels. According to Shell, the low-carbon fuel is expected to be produced by five plans that Raízen p
Hess hires Velesto rig for Malaysian gas project
Hess has picked Malaysia’s rig owner Velesto Energy to carry out the drilling work on a project located offshore Peninsular Malaysia.
Albanians open call for 12.9MW floating solar plant
Solar Energy of Albania (SENA), a subsidiary of state-owned power utility Korporata Elektroenergjitike Shqiptare (KESH), has launched a tender for the development of a 12.9MW floating solar plant in Albania.
Sandbrook Capital acquires majority stake in Havfram
Sandbrook Capital, a private investment firm headquartered in Connecticut, US, has acquired a majority stake in Havfram and has committed $250 million (NOK 2.65 billion) of equity capital to the Norwegian offshore wind services provider. Havfram will use the new capital to build a fleet of vessels f
UK a step closer to delivering ‘first-in-industry’ digital solution for workers in offshore energy sector
3t Energy has been selected to develop a pioneering digital solution in partnership with OPITO to help workers in the offshore energy sector.
Kraken Robotics scoops $8 million in new R&D contract
Kraken Robotics has signed an R&D contract with a “global energy company” which will provide $8 million of cash funding to its Brazilian subsidiary over a three-year period. Under the project, Kraken will continue the development of artificial intelligence (AI), machine learning software and subsea