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Market Outlooks

Retrofitting passenger ships with methanol is less attractive option, report finds

A full methanol retrofit for passenger ships is a less commercially attractive prospect than the use of blended fuels (Blend B30), heavy fuel oil (HFO), and heavy fuel oil equipped with onboard carbon capture and storage technology (oCCS), a new report from classification society Lloyd’s Register ha

about 2 years ago

Market Outlooks

BV: Energy insetting key to providing pathways for ‘earliest possible’ adoption of new fuels

Classification society Bureau Veritas (BV) has unveiled the results of new modeling research which confirmed the potential hefty cumulative impact of operational and technical efficiency measures in keeping shipping within its “carbon budget” to 2050.

about 2 years ago

Wavepiston opens capital raise to back wave energy system

Market Outlooks

Danish firm to explore wave energy deployment offshore Barbados

Danish company Wavepiston and Export Barbados (BIDC), an agency of the Barbados Government, are set to explore the deployment of wave energy farms offshore Barbados. According to Wavepiston, Barbados and most of the Caribbean region hold a large potential for wave energy. Barbados has set a net-zero

about 2 years ago

Swedish company CorPower Ocean and Norway-based OPS Solutions have developed a pre-tension cylinder (PTC) prototype, marking a step toward reducing the cost and mass of wave energy converters (WECs).

Market Outlooks

UK needs 27 GW of wave energy to reach cost-effective net-zero energy system, report says

To deliver a cost-effective net-zero energy system and with electricity consumption potentially trebling by 2050, the UK should seek to harness 27 GW of wave energy, according to research by Finland’s LUT University. LUT University investigated a series of potential scenarios for the UK and Ireland

about 2 years ago

Market Outlooks

With natural gas in high demand, Shell forecasts global LNG growth will top 50% by 2040

Shell has revealed its latest outlook on the global demand for LNG, predicting a rise in demand of more than 50% by 2040.

about 2 years ago

Market Outlooks

Embracing sustainability: AIDA Cruises embarks on largest to-date fleet modernization program

German cruise line AIDA Cruises, part of Carnival Corporation, has launched AIDA Evolution, the largest fleet modernization program in the company’s history, to make its ships future-proof and more environmentally friendly.

about 2 years ago

Market Outlooks

Prosafe spots rise in tendering activity with more awards anticipated for 2025 and beyond

Oslo Stock Exchange-listed Prosafe has caught sight of increased activity in tenders covering work for 2025 and beyond.

about 2 years ago

Market Outlooks

Interview: With new oil & gas horizons calling, will the North Sea hold sway over its existing rig fleet?

This interview sheds more light on whether there will be a greater rig exodus from the North Sea market and a mass pivot toward other destinations.

about 2 years ago

Market Outlooks

WoodMac: Carbon intensity regulation to make or break global hydrogen market

The future of low-carbon hydrogen hinges on global policymakers introducing regulations and subsidies that focus on the carbon intensity of the hydrogen produced rather than its color, according to Wood Mackenzie’s (WoodMac’s) Horizons report ‘Over the rainbow: Why understanding full value-chain car

about 2 years ago

Market Outlooks

Reach Subsea ‘very optimistic for years ahead’ as it reports record 2023 numbers

Reach Subsea has reported record-high numbers for the fourth quarter of 2023 and the whole year, with all parameters driven by growth, improved pricing, and strong project execution. Reach Subsea’s revenue for Q4 2023 grew by 45% to NOK 474 million ($44.5 million), whereas EBIT grew by 130% to NOK 7

about 2 years ago

Market Outlooks

23 methanol-powered ships ordered since the start of 2024

The maritime industry’s fervor for alternative fuels shows no signs of abating as we enter 2024. According to data from DNV-Maritime, since the beginning of the year, 23 methanol-fueled ships have been to the Alternative Fuels for Shipping Index (AFI) database. The ordering has been dominated by the

about 2 years ago

Market Outlooks

EU should not rely on uncertain imports to meet hydrogen targets, study says

According to a Ricardo study, commissioned by Transport & Environment (T&E), a European clean transport campaign group, the European Union (EU) should be cautious about relying on uncertain imports to meet its hydrogen targets. The study, made to assess the EU’s needs for hydrogen imports and evalua

about 2 years ago

Picture showing three 150 MW offshore solar standard formats in-between offshore wind turbines. Source: Oceans of Energy

Market Outlooks

16 European partners kick off project to scale up offshore solar

Sixteen European partners have started an EU joint industry project (JIP) where floating solar technology is scaled up to standard formats of 150 MW enabling to build gigawatt scale farms. The BAMBOO project (Building scAlable Modular Bamboo-inspired Offshore sOlar systems) aims to resolve challenge

about 2 years ago

Market Outlooks

Snam gauging market interest in hydrogen and CO2 transport and storage

Italian energy infrastructure operator Snam, in cooperation with Confindustria, has officially launched a market test on hydrogen demand in Italy and, in partnership with Eni, a collection of non-binding expressions of interest for the transport and storage of CO2 within the framework of the carbon

about 2 years ago