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Market Outlooks

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Spanish Avalon to invest €8 billion in hydrogen and derivatives projects
Market Outlooks

Spanish Avalon to invest €8 billion in hydrogen and derivatives projects

Spanish energy company Avalon Renovables plans to invest around €8 billion in the development of green hydrogen and derivatives projects in different locations distributed between the provinces of Jaén, Huelva, Cádiz and Málaga.

about 1 year ago
WAPS
Market Outlooks

DNV: Industry innovation, stricter regulations drive WAPS uptake

Orders for wind-assisted propulsion systems (WAPS) are set to accelerate in the coming years due to a surge in industry interest combined with systems builders and yards scaling up production and installation capacity, classification society DNV said.

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about 1 year ago
GlobalData: Hydrogen economy is in critical phase of development
Market Outlooks

GlobalData: Hydrogen economy is in critical phase of development

The hydrogen economy is currently in the critical phase of its development, according to data and analytics company GlobalData.

about 1 year ago
fleet
Market Outlooks

UCL: Over a third of world fleet needs to embrace zero-emission tech or face ‘premature scrapping’

A rapid transition could lead to “premature scrapping” of over a third of the fleet, valued at over $400 billion, unless they undergo costly retrofits to remain competitive in the wake of new greenhouse gas (GHG) policies and wider energy transition, a new report shows.

about 1 year ago
LNG
Market Outlooks

LNG is steady compass to net zero, SEA-LNG found

Global adoption and the growth of the liquefied natural gas (LNG) pathway in the maritime industry has witnessed ‘record’ heights in the year 2024, a new analysis from industry coalition SEA-LNG has found. According to SEA-LNG’s annual “View from the Bridge” report, the growth of LNG-fueled vessels

about 1 year ago
Sumitomo and Van Oord booked for second Shetland HVDC cable link
Market Outlooks

Sumitomo and Van Oord booked for second Shetland HVDC cable link

SSEN Transmission has entered into a capacity reservation agreement (CRA) with a consortium of Sumitomo Electric Industries and Van Oord for the supply and installation of a second 525 kV HVDC cable link between Shetland and the Scottish mainland, known as the Shetland 2 HVDC Link. The cable for the

about 1 year ago
The Marine Energy All-Party Parliamentary Group (APPG) has been relaunched under the new UK Parliament, with Orkney and Shetland member of parliament (MP) Alistair Carmichael as chair.
Market Outlooks

UK Members of Parliament push for increased support for marine energy projects

Last week, a parliamentary debate brought the future of the UK’s marine energy sector into focus, as Members of Parliament (MPs) called for enhanced government support to harness the country’s tidal and wave energy potential. The discussion underscored the need for funding and initiatives to solidif

about 1 year ago
IMO
Market Outlooks

IMO: Shadow fleet, decarbonization and geopolitical tensions are top 3 focus areas in 2025

The International Maritime Organization (IMO)—the world’s shipping regulator— prepares to address a range of pressing issues in 2025, with the top three being dark fleet, decarbonization and geopolitical pressures.

about 1 year ago
Netherlands zooms in on offshore hubs and interconnectors over energy islands
Market Outlooks

Netherlands looking at offshore hubs and interconnectors, where does hydrogen stand?

Energy islands are no longer being considered in the Netherlands. Instead, the focus has been shifted to offshore energy hubs and interconnectors. With rising (cyber)security concerns as a result of a number of recent incidents in European waters, as well as the Russia-Ukraine war, diversification o

about 1 year ago
product tanker
Market Outlooks

Product tanker deliveries to jump 256% in 2025

Product tanker newbuild deliveries are expected to reach 12 million deadweight tonnes (dwt) in 2025, with deliveries set to jump 256% compared to the 3.4 million dwt delivered in 2024, shipping association BIMCO revealed.

about 1 year ago
Long-term use of biofuels as marine fuel depends on affordable supply, DNV says
Market Outlooks

Long-term use of biofuels as marine fuel depends on affordable supply, DNV says

While biofuels still hold a reputation as a promising solution to the decarbonization of the maritime sector, their long-term use could be hindered by limited supply in the future, DNV pointed out in the latest white paper.

about 1 year ago
wind propulsion
Market Outlooks

Wind ship propulsion in maritime: 2024 was a year to remember

2024 was an exciting year in the ongoing development of the wind-assisted ship propulsion segment, with 54 large ships in operation and seven more designated as wind-ready.

about 1 year ago
DNV: LNG dominated alternative-fuel ship orderbook in ‘exceptional newbuilding’ year
Market Outlooks

DNV: LNG dominated alternative-fuel ship orderbook in ‘exceptional newbuilding’ year

Described as the maritime industry’s “exceptional newbuilding year”, 2024 yielded a record number of LNG-fueled ship deliveries, according to the latest data from DNV’s AFI platform.

about 1 year ago
llustration/Morlais Demonstration Zone (Archive/Courtesy of Marine Energy Wales)
Market Outlooks

Wales introduces strategic resource areas for tidal stream energy

Wales has taken a step forward in marine planning by introducing its first Strategic Resource Areas (SRAs) for tidal stream energy, aiming to foster the sustainable development of marine energy while safeguarding sensitive ecosystems. The Welsh government launched its first marine plan in 2019, layi

about 1 year ago