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Market Outlooks

Offshore helicopter traffic tumbles in 2020 but recovery in sight, Rystad says

Global demand for offshore helicopter transport to offshore facilities plunged in 2020 as a result of the Covid-19 pandemic, a Rystad Energy report shows.

about 5 years ago

Market Outlooks

Hapag-Lloyd upgrades earnings forecast amid strong market demand

German container shipping company Hapag-Lloyd has raised its earnings forecast amid better than expected business performance. For the 2020 financial year, earnings before interest, taxes, depreciation and amortisation (EBITDA) of €2.6 to 2.7 billion, from the previously announced €2.4 to 2.6 billio

about 5 years ago

Transocean Barents exploration drilling rig

Market Outlooks

Deep dive into oil and gas exploration – then, now, and ahead

What will become of oil and gas exploration efforts in the near- and longer-term following a drastic decrease in the level of oil and gas investments?

11 minutes read

A vessel next to a floating wind turbine

Market Outlooks

DNV GL: Floating wind in need of comprehensive industry standards

Floating wind will account for 2 per cent of the world’s power supply by 2050 and its cost will drop some 70 per cent by that time. Still, a more comprehensive industry standards and risk management are required for the technology to scale, according to a new report from DNV GL. The report discusses

about 5 years ago

Market Outlooks

Drewry: Vessel operating costs surge in 2020 amid COVID-19 impact

Vessel operating costs have risen at their fastest pace in over a decade this year, on higher insurance cover premiums and COVID-19 related expenses, UK-based shipping consultancy Drewry said. The costs are expected to moderate in subsequent years as pandemic related spend unwinds, according to Drew

about 5 years ago

A photo of (L) Rémi Gruet, CEO of OEE, and (R) Francesco La Camera, Director-General of IRENA(Courtesy of IRENA)

Market Outlooks

IRENA and Ocean Energy Europe deepen marine energy partnership

Ocean Energy Europe (OEE) and International Renewable Energy Agency (IRENA) have signed a memorandum of understanding (MoU) to expand existing cooperation and accelerate the commercialisation of ocean energy technologies.

about 5 years ago

Market Outlooks

Fifty shades of collaboration in time of energy transition

There is little doubt that the past few years have witnessed the rise of energy-related collaborations to an extent never seen before. This is because cross-industry collaborations seem to be crucial for companies to ride the energy transition train which is indeed moving very fast.

about 5 years ago

Market Outlooks

Borr Drilling faces challenging financial situation amid payment delays in Mexico

Borr Drilling is facing a very challenging financial situation amid a difficult market environment combined with payment delays from Pemex in Mexico.

about 5 years ago

Market Outlooks

Immediate clean energy investment to create 100,000 North Sea jobs by 2050

The OGTC and the Offshore Renewable Energy Catapult have warned that the UK offshore energy sector would miss the opportunity to be a global leader in clean energy if it does not invest in technology innovation to create a net-zero North Sea.

about 5 years ago

Market Outlooks

SSY: IMO measures fail to speed up global fleet rejuvenation

The new IMO measures addressing greenhouse gas emissions (GHG) have been met with a lot of criticism from the industry as they are likely to slow down the demolition of older, less-efficient ships until they enter into force. To remind, the 75th session of the IMO’s Marine Environment Protection Com

about 5 years ago

Market Outlooks

Norwegian marine minerals potential could be worth billions

Marine minerals could create 21,000 jobs and a $20 billion market for Norway in the next decades, Rystad Energy report says. That is the most optimistic estimate in a new Rystad Energy report on excavation of offshore minerals on the Norwegian Continental Shelf (NCS). “We are looking to provide mine

about 5 years ago

Market Outlooks

Rystad: E&P investments to reach $380B in 2021 but 20 pct at risk of deferral

Investments from global E&P in 2021 are projected to reach around $380 billion, almost flat year-on-year, a Rystad Energy report shows.

about 6 years ago

An image showing H2 made of green grass and leaves

Market Outlooks

Bigger Picture: Offshore wind, green hydrogen backbone of EU’s 2050 goal

European Union’s Offshore Renewable Energy Strategy, published on 19 November and targeting as much as 300 GW of installed offshore wind capacity by 2050, also outlines the goal of supporting green hydrogen production. In anticipation of the launch of the new Renewable Hydrogen Coalition, it is ever

about 6 years ago

Market Outlooks

Hafnia CEO: Further consolidation needed within the product tanker sector

Product tanker major Hafnia Limited believes that further consolidation is needed within the product tanker sector to fully unleash value and synergies from additional operational scale. Hafnia Limited was set up in January 2019, following a merger between BW Tankers with Hafnia Tankers, a fellow su

about 6 years ago