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Market Outlooks

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Gibraltar wave power plant (for illustration purposes); Source: Eco Wave Power
Market Outlooks

Eco Wave Power’s ‘significant milestones’ keep optimism for future energy project opportunities alive

Eco Wave Power is among the companies that felt the impact of the unpredictability surrounding the economy in 2023.

about 2 years ago
UMAS
Market Outlooks

MEPC 81 questions wisdom of ‘wait and see’ approach, UMAS says

The recent meeting of the International Maritime Organization’s (IMO) Maritime Environment Protection Committee (MEPC) has increased the commercial risk for those who adopt a ‘wait and see’ approach, University Maritime Advisory Services (UMAS) said.

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about 2 years ago
Illustration/CorPower Ocean's wave energy farm (Courtesy of CorPower Ocean)
Market Outlooks

CorPower Ocean joins EIC Scaling Club’s community

Swedish company CorPower Ocean has been chosen to join the EIC Scaling Club, an EU-backed community of 100+ European high-growth deep-tech champions and their partners. Supported by the European Innovation Council, a flagship program of the European Commission with a budget exceeding €10 billion, th

about 2 years ago
Illustration/French developer Sabella deploying its tidal energy turbine (Courtesy of Ocean Energy Europe)
Market Outlooks

Ocean Energy Europe appoints new leadership team

Ocean Energy Europe (OEE), a network of ocean energy professionals, has selected new Co-Presidents and Directors who will lead the ocean energy sector through a transitional period. The appointed Co-Presidents are Guillaume Gréau, Head of Business Development for HydroQuest, France, and Patrik Mölle

about 2 years ago
BV
Market Outlooks

Op-ed: Sailing towards sustainability

Aude Leblanc, Technology Leader – Sustainable Shipping at Bureau Veritas Marine & Offshore (BV), delves into the dynamic landscape of wind propulsion for shipping and the intricate considerations surrounding its integration into vessel designs.

about 2 years ago
3D rendering of the Ammonia fuelled MGC, provided by Hyundai Mipo Dockyard
Market Outlooks

Lloyd’s Register: Safety is crucial for adoption of ammonia as marine fuel

A report by Lloyd’s Register has highlighted the need for an industry-wide understanding of the operational and safety challenges surrounding the use of ammonia as a marine fuel.

about 2 years ago
Wärtsilä
Market Outlooks

EU ETS and FuelEU Maritime to close price gap between green and fossil fuels, report finds

Sustainable shipping fuels could reach cost parity with fossil fuels as early as 2035 with the help of decisive emissions policy such as carbon taxes and emissions limits, according to a new report launched by Finnish technology group Wärtsilä.

about 2 years ago
Illustration; Source: ExxonMobil
Market Outlooks

ExxonMobil: Europe needs policy change not deindustrialization to be ‘attractive’ decarbonization playground

The president of ExxonMobil’s European arm is adamant that Europe needs industry to deliver the right set of climate tools and solutions.

about 2 years ago
IEA
Market Outlooks

IEA: Oil in transit reaches record highs due to shipping disruptions

Shipping disruptions through the Red Sea are pushing the amount of oil in transit to record levels, according to the latest International Energy Agency (IEA) Oil Market Report (OMR).

about 2 years ago
Ulstein unveils new subsea vessel
Market Outlooks

Ulstein unveils new subsea vessel

Norwegian shipbuilder and ship designer Ulstein has developed a new subsea vessel for floating and fixed installations in the offshore wind market, as well as for offshore oil & gas. Ulstein said that the SX232 is based on three core principles, including an optimized hull design based on the Ulstei

about 2 years ago
BP, Equinor and TotalEnergies pick 9 contractors for UK's 'vital' decarbonization projects
Market Outlooks

BP, Equinor and TotalEnergies pick 9 contractors for UK’s two ‘vital’ decarbonization projects

BP, Equinor and TotalEnergies have selected nine contractors for engineering, procurement, and construction contracts, with a combined value of around £4 billion, for two projects being developed in Teesside that are said to be vital for the UK’s decarbonization journey. Net Zero Teesside Power (NZT

about 2 years ago
Maersk CEO
Market Outlooks

Maersk CEO shares three imperatives for shipping’s decarbonization to succeed

Ahead of the key global event that will decide the pace of shipping’s decarbonization, Vincent Clerc, CEO of Danish shipping and logistics giant A.P. Moller – Maersk, has highlighted three imperatives that will be crucial if the maritime industry wants to meet ambitious emission reduction targets.

about 2 years ago
costs
Market Outlooks

Shipping’s EU ETS costs could nearly triple due to Red Sea crisis, OceanScore says

The Red Sea shipping crisis could result in nearly tripled costs for shipping companies in 2024 due to significantly higher exposure to the EU Emission Trading System (EU ETS).

about 2 years ago
ORE Catapult: 10 technology innovations key to 80% cost reduction of UK tidal energy
Market Outlooks

ORE Catapult: 10 technology innovations key to 80% cost reduction of UK tidal energy

A new report by the Offshore Renewable Energy (ORE) Catapult has identified ten technology innovations, subsea hubs among others, that could result in an 80% cost reduction in tidal stream energy, making it lower than current nuclear energy prices if successfully commercialized. The ten technology i

about 2 years ago