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Market Outlooks

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GlobalData: Hydrogen market to witness growth surge in 2023
Market Outlooks

GlobalData: Hydrogen market to witness growth surge in 2023

Hydrogen production capacity is estimated to reach 4.5 million tons per annum (mtpa) worldwide by the end of 2023 despite the slowing global economy, representing 165% growth compared to 2022, according to a report by data and analytics company GlobalData. GlobalData’s recent publication called “Hyd

about 3 years ago
Boluda Towage
Market Outlooks

Boluda Towage steers toward global leadership with Smit Lamnalco acquisition

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Boluda Corporación Marítima, through its Boluda Towage division, has reached an agreement to acquire Smit Lamnalco, the world’s fifth-largest towage operator. The deal is expected to enable the company to strengthen its presence in strategic markets such as Australia, the Middle East, and West Afric

about 3 years ago
Electrolyser and green hydrogen markets to grow, says IDTechEx
Market Outlooks

Electrolyser and green hydrogen markets to grow, says IDTechEx

Technology company IDTechEx has forecasted that the water electrolyser market will grow to over $120 billion by 2033. In its ‘Green Hydrogen Production: Electrolyser Markets 2023-2033’ report, IDTechEx noted that the plans from the European Union (EU), from the RePowerEU strategy, and the USA, from

about 3 years ago
Illustration; Source: Westwood
Market Outlooks

Volatility in oil & gas prices on the cards for 2023 after roller-coaster ride in 2022, says Westwood

Westwood dives into upstream oil and gas trends in 2022, predicting that 2023 will also be marked by oil and gas price volatility.

about 3 years ago
IDTechEx predicts rapid adoption of green fuel cells in marine markets
Market Outlooks

IDTechEx predicts rapid adoption of green fuel cells in marine markets

In its latest report, technology company IDTechEx has forecasted accelerated adoption of green fuel cells, notably hydrogen fuel cells, in marine markets. The maritime sector, which accounts for approximately 2.9% of global carbon emissions, is seeking to meet broader climate goals such as the Paris

about 3 years ago
Following 'very promising 2023', energy services sector anticipated to grow to $1 trillion
Market Outlooks

Following ‘very promising 2023’, energy services sector anticipated to grow to $1 trillion

The global market for oil and gas contractors is expected to rise to a peak of $1 trillion in 2025 and remain at high levels for several years, according to a report by energy intelligence group Rystad Energy. For the 2022-2028 period, overall oil and gas spending is anticipated to stay above $920 b

about 3 years ago
Oman LNG continues supply deals spree with Turkish BOTAŞ
Market Outlooks

Oman LNG continues supply deals spree with Turkish BOTAŞ

Oman LNG has signed a binding term-sheet agreement with Turkish BOTAŞ Petroleum Pipeline Corporation to supply 1 million metric tonnes per annum (mtpa) of LNG, starting in 2025. According to reports from the Omani state news agency, the agreement was signed on 30 January. The deal will see Oman LNG

about 3 years ago
clean ammonia
Market Outlooks

Inpex commits to clean energy development in UAE

In a statement to Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology of the UAE and Managing Director and Group CEO of ADNOC, Japan’s oil and gas producer Inpex has officially committed to the United Arab Emirates (UAE) in regard to clean energy development in the country. According

about 3 years ago
2023 to be a busy year for offshore rigs, pushing utilisation and day rates up, says Westwood
Market Outlooks

Westwood: 2023 shaping up to be a busy year for offshore rigs with further boost in day rates

Westwood forecasts global marketed offshore rig utilisation to average 95 per cent this year with day rates getting a further boost.

about 3 years ago
shipping/Marine insurers
Market Outlooks

Landmark report shows marine insurers’ portfolios not measuring up to IMO, Paris targets

A group of eight marine insurers has released the first Annual Disclosure Report for Poseidon Principles for Marine Insurance, disclosing the climate alignment of their hull and machinery portfolios. The report surveys the portfolios of the framework’s signatories in what has been described as a ‘la

about 3 years ago
MSC Chiyo
Market Outlooks

MSC dominates the industry with record-breaking 124-ship orderbook

Swiss-based container shipping giant MSC has the largest orderbook by far in the industry with 124 containerships on order. Namely, MSC has 14 megamax ships and 22 neo-panamax ships on order scheduled for delivery in 2023, according to Alphaliner. The orders are spread between Chinese and South Kore

about 3 years ago
thyssenkrupp Uhde and ADNOC ally on ammonia cracking to boost hydrogen economy
Market Outlooks

thyssenkrupp Uhde and ADNOC ally on ammonia cracking to boost hydrogen economy

thyssenkrupp Uhde, a Germany-based subsidiary of thyssenkrupp Group that specialises in chemical engineering, and the Abu Dhabi National Oil Company (ADNOC) have signed a Memorandum of Understanding (MoU) to explore a long-term partnership to create new markets for hydrogen and promote global clean

about 3 years ago
Energy transition needs fair and realistic solutions; natural gas is destination fuel, says Qatar’s energy minister
Market Outlooks

Energy transition needs fair and realistic solutions; natural gas is destination fuel, says Qatar’s energy minister

So far, global net-zero ambitions have not been supported with an actual plan beyond setting expectations by a certain date and the world cannot solve its environmental and climate change problem without being realistic about the solution, according to Saad Sherida Al-Kaabi, the Minister of State fo

about 3 years ago
Low-carbon investments set to hit $620 billion in 2023, Rystad says
Market Outlooks

Low-carbon investments set to hit $620 billion in 2023, Rystad says

While low-carbon investments overtook oil & gas spending for the first time in 2022, this growth is expected to slow in 2023, says Rystad.

about 3 years ago