Following up on the successful biofuel trial in April, Stena Bulk is to introduce low-carbon shipping options for its clients.
Polarcus is taking further actions to streamline its business and adjust operational capacity to align with current market conditions. This follows on the $15 million cost reduction plan implemented due to the COVID-19 pandemic and oil price volatility. The company has additionally streamlined and r
Product tanker owner and operator Hafnia, a member of the BW Group, will soon enter a new product tanker segment with industry peers, established under the name of Hafnia Specialized, the company revealed. This business will handle tonnage below 25,000-dwt, Hafnia said, adding that more precise info
Ocean energy devices and pilot farms should be demonstrated in real-sea conditions for several years to accelerate large-scale deployment, according to ETIP Ocean’s new ‘Strategic Research & Innovation Agenda (SRIA)’, published today. This is just one of the priorities that the report identifies for
The Covid-19-caused downturn is set to cause a 25 per cent yearly drop in global demand for oilfield services (OFS), a Rystad Energy analysis shows.
In its global energy outlook, Rystad Energy revealed that the Covid-19 downturn will expedite peak oil demand, putting a lid on exploration efforts in remote offshore areas and as a result reducing the world’s recoverable oil by around 282 billion barrels.
The massive consolidation drive in the container shipping market that dominated the narrative over the past four years seems to have brought about unexpected benefits during the coronavirus crisis. The driving force behind the phenomenon has been primarily achieving economies of scale, especially co
There is a case to be made that the coronavirus crisis has been setting the stage for the restructuring of the offshore drilling market.
The idea of cleaning hulls of vessels in transit is now becoming a reality with the innovative system developed by Norwegian company Shipshave.
Leading CTV operators are driving for more transparency around vessel performance as the market seeks to ‘level the playing field’ in offshore wind support. While historically project owners have led demands for greater transparency around operational and performance data, a number of CTV vessel ope
OPEC, Russia, and other oil producers agreed to extend their record oil production cuts of 9.7 million barrels per day by another month.
Capital expenditure (CAPEX) on offshore wind is expected to surpass upstream oil & gas spending in Europe in 2022, according to Rystad Energy. The oil market collapse caused by the Covid-19 pandemic is set to delay several oil and gas developments in Western Europe, putting capital expenditure in th
1,400 GW of offshore wind globally by 2050 is entirely achievable considering the resource potential, technology innovation, and government appetite to position offshore wind at the centre of the global energy transition, the Ocean Renewable Energy Action Coalition (OREAC) said. OREAC estimates that
Offshore solar energy systems are an emerging application in which photovoltaic (PV) systems are installed directly over bodies of water. Floating solar photovoltaic is a subset of that technology in which PV panels are mounted on buoyant substructures. PV panel technology is similar to traditional
