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Market Outlooks

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Illustration/Wave energy array based on H-WEC technology (Courtesy of Havkraft)
Market Outlooks

Norwegian company sets sights on Southeast Asia’s wave energy potential

Norwegian wave energy company Havkraft has joined forces with Singapore-based Neuto to spearhead green transition in Southeast Asia through the development of ocean energy projects using the Havkraft N-class wave power plant.

about 3 years ago
Euronav
Market Outlooks

A flurry of orders continues into summer with tankers leading the charge

The global shipbuilding industry is experiencing an impressive surge in demand for new tonnage, with a flurry of newbuilding orders and options being placed over the past week by prominent shipping companies worldwide. Data from shipbrokers shows a remarkable total of 31 firm newbuilding orders, acc

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about 3 years ago
The installation of EEL Energy’s tidal turbine in Rhône river (Courtesy of EEL Energy)
Market Outlooks

First biomimetic tidal turbine in Rhône river gives glimpse of future fluvial clean energy farms

French company EEL Energy has deployed its biomimetic tidal energy turbine in the Rhône river near Lyon – the first of four planned – foreshadowing the future where fluvial clean energy farms make a significant contribution to decarbonization and diversification of power generation mix.

about 3 years ago
HD Hyundai Mipo
Market Outlooks

Svanehøj sees growing number of LPG tankers adding ammonia to cargo list

Amidst a shifting landscape in the quest for carbon neutrality, shipowners worldwide are now gearing up to embrace the anticipated demand growth for ammonia, with multiple tankers slated to incorporate ammonia in their cargo list. Svanehøj, a Danish-based pump manufacturer, has witnessed a remarkabl

about 3 years ago
The Blue X wave energy device (Courtesy of Mocean Energy)
Market Outlooks

Thailand’s energy major joins ‘wave power for subsea equipment’ scheme

Thailand’s state energy company PTTEP has joined the Renewables for Subsea Power (RSP) collaborative project which is intended to prove the concept of powering subsea equipment with wave power and intelligent subsea energy storage.

about 3 years ago
SEA-LNG: Bio-LNG bunkering is available in almost 70 locations
Market Outlooks

SEA-LNG: Bio-LNG bunkering is available in almost 70 locations

Bio-LNG is available in almost seventy ports worldwide, including in Singapore, Rotterdam, and the US east coast, according to an analysis of the green LNG bunkering market published by SEA-LNG, a multi-sector industry coalition promoting LNG as a marine fuel. The coalition added that bio-LNG used i

about 3 years ago
EC approves Germany’s €40M support measure for Brunsbüttel LNG terminal
Market Outlooks

EC approves Germany’s €40M support measure for Brunsbüttel LNG terminal

The European Commission (EC) has approved a €40 million German support measure for the construction and operation of a new land-based LNG terminal in Brunsbüttel which will replace the FSRU currently operating at the site. The terminal with an annual capacity of 10 billion cubic meters will comprise

about 3 years ago
Germany updates its national hydrogen strategy
Market Outlooks

Germany updates its national hydrogen strategy

Germany has decided to update the National Hydrogen Strategy with the increased level of ambition in climate protection and the new challenges in the energy market. The Federal Cabinet made the decision on 26 July preceded by a political agreement of all departments, including the five core departme

about 3 years ago
There is NO time for antagonism among marine fuel proponents
Market Outlooks

There is NO time for antagonism among marine fuel proponents

As the world witnesses the devastating impact of climate change through catastrophic events like wildfires engulfing the Greek island of Rhodes and northern Algeria, and the occurrence of giant supercells in Italy, the need for urgent and sustainable solutions within the energy industry, the maritim

about 3 years ago
SIMEC Atlantis’ tidal turbine for MeyGen project (Courtesy of SIMEC Atlantis)
Market Outlooks

Power sales from MeyGen bring in €4.5M to SIMEC Atlantis as co-location with storage emerges as option

The power sales from the MeyGen tidal energy project have reached €4.5 million in 2022, according to the developer of the project SIMEC Atlantis Energy, which also unveiled plans for potential combination of the tidal power scheme with its battery energy storage systems (BESS) business.

about 3 years ago
EU Council adopts FuelEU Maritime clearing the final adoption stage
Market Outlooks

EU Council adopts FuelEU Maritime clearing the final adoption stage

The Council of the European Union has adopted the final rules on climate-neutral shipping as proposed in the FuelEU Maritime as a key part of the EU’s Fit for 55 package. The final hurdle was cleared on Tuesday putting virtually all pieces of the puzzle for regulating shipping’s climate impact into

about 3 years ago
seafarers
Market Outlooks

Record high officer supply shortfall threatens manning costs, warns Drewry

Officer supply shortfall has reached a record high and is not expected to improve, leading to manning cost inflation, according to the latest Manning Annual Review and Forecast report published by shipping consultancy Drewry. The 2023 officer availability gap has widened to a deficit equating to abo

about 3 years ago
German Bundesrat adopts revised LNG Acceleration Act
Market Outlooks

German Bundesrat adopts revised LNG Acceleration Act

German legislative body Bundesrat has approved the revised act to accelerate the use of liquefied natural gas (LNG Acceleration Act) to include forward-looking rules on energy supply and specify practical provisions on the sustainable, climate-neutral retrofitting of LNG terminals. The previous vers

about 3 years ago
LNG is cheaper than VLSFO, Sea Intelligence says
Market Outlooks

LNG is cheaper than VLSFO, Sea Intelligence says

Liquefied natural gas (LNG) has become cheaper maritime fuel than Very Low Sulphur Fuel Oil (VLSFO), according to the most recent analysis made by Danish consultancy Sea-Intelligence. To comply with the IMO2020 regulations aimed at cutting sulphur emissions, the shipowners were given a choice betwee

about 3 years ago