Outlook & Strategy
NextGeo buys survey vessel for €6.7M, refit now on schedule
Italy-headquartered Next Geosolutions (NextGeo) has expanded its fleet with a 2010-built multi-purpose survey vessel (MPSV), which will after refitting be operational from the first quarter of 2025. NextGeo purchased the vessel Sea Admiral from the Norwegian company Beitveit Holding, renamed to NG E
UK’s center for low-carbon technologies Cenex joins Maritime Battery Forum
Cenex, the UK’s center of excellence for low carbon and fuel cell technologies, has joined the Maritime Battery Forum (MBF), a community that aims to promote new and efficient energy storage technologies in the maritime industry.
Madoqua-led coalition formalizes Portugal-Northern Europe green fuels corridor initiative
Renewable energy developer Madoqua and its industry partners have formalized plans to operationalize a green fuels corridor connecting Portugal with Northern Europe.
UK’s first ever carbon storage becoming a reality, first injection expected in 2027
The North Sea Transition Authority (NSTA) has awarded the Northern Endurance Partnership (NEP), comprising BP, Equinor and TotalEnergies, with the first-ever carbon storage permit in the UK. The project, located around 75 kilometers east of Flamborough Head, off Teesside on England’s east coast, is
EU’s first full-scale CO2 storage facility gallops ahead as Danish project reaches FID
The consortium partners behind Project Greensand have taken the final investment decision (FID) for what is the first full-scale carbon storage facility in the EU, investing $150 million in commercial agreements across the entire value chain, from CO2 emitters to logistics, storage, and shipping. On
UK subsea firm eyes growth with new majority shareholder
UK-headquartered Subsea Technology & Rentals (STR) has entered into an investment deal with STAR Capital Partnership as part of its growth strategy. STAR Capital Partnership has become STR’s new majority shareholder, with the investment set to enable the UK firm to further evolve its equipment and s
DMEC models forecast tidal and wave energy growth in Europe
The Dutch Marine Energy Centre (DMEC) has unveiled a market report forecasting that tidal and wave energy could anchor Europe’s green transition and bring billions in market value by 2050, however, there are certain challenges that need to be surpassed for them to reach their potential. Leveraging h
VTTI gauging interest in ammonia storage and cracking capacity at Rotterdam and Antwerp terminals
The Netherlands-based energy infrastructure firm VTTI has launched an open season for ammonia storage and ammonia cracking capacity at its terminals in Rotterdam and Antwerp.
UK’s National Subsea Centre bags grant to develop decommissioning AI-demonstrator
The UK’s National Subsea Centre (NSC) and PlanSea, a spin-out company from Robert Gordon University (RGU), have secured a grant to develop a subsea decommissioning optimization software demonstrator with artificial intelligence (AI) technology. The partners, which have collaborated for many years to
ABB to power NKT’s Swedish high-voltage offshore cable factory
Denmark-headquartered power cable manufacturer and installation firm NKT has appointed ABB to electrify its high-voltage submarine power cable factory in Karlskrona, Sweden. To remind, on the back of a record order backlog and strong market outlook, NKT announced investments in a new cable-laying ve
CMB.TECH offloads three Suezmaxes on fleet rejuvenation quest
As part of its fleet rejuvenation agenda, Belgium-based shipowner CMB.TECH has sold three of its Suezmax tankers for nearly $120 million.
VARD hands over PSV-turned-CLV to Canadian owner
Norway’s VARD has delivered the cable-laying vessel (CLV) it had converted from a platform supplier (PSV) to I.T. International Telecom Marine (IT), a Canadian company active in the offshore oil & gas and energy sectors. The vessel was built at Vard Brattvaag and delivered to Volstad Maritime in 200
With new offshore decom roadmap in place, Australia steps up collaboration with UK
The United Kingdom and Australia have inked a partnership agreement to advance offshore oil and gas decommissioning expertise and capabilities in both countries.
Chinese firm delivers ‘historic’ submarine cable installation project in the Balkans (Video)
China’s ZTT Submarine Cable & System has delivered what it says is Croatia’s first submarine cable installation in over four decades, a project described as a historic and ESG-focused milestone as it aims to modernize the country’s energy system. For the Cortia Submarine Cable Project, ZTT delivered