Outlook & Strategy
Euronav wins green light for CMB.TECH’s acquisition
Euronav NV, the Belgian tanker shipping company, has secured approval for the acquisition of 100% of shares in cleantech maritime group CMB.TECH during a Special General Meeting held on February 7, 2024. The transaction, valued at $1.150 billion in cash, comes at a time of strategic transformation f
New hydrogen facility opens in Norwegian Egersund harbor
Norwegian companies Dalane Energi and Hydrogen Solution (HYDS) have launched a new hydrogen production facility in Egersund harbor as a part of the EU-funded ROBINSON H2020 project. The official opening ceremony of the hydrogen production plant was held in Grand Hotell Eigersund on February 8 in the
Industry first: Maersk’s climate targets validated by SBTi under new guidance
Danish shipping and logistics major A.P. Moller – Maersk has become the first company from the maritime sector to have its greenhouse gas (GHG) emissions targets validated by the Science Based Targets initiative (SBTi) to be in line with the 1.5-degree pathway from the Paris Agreement.
CIP and Norwegian partners plan large-scale hydrogen-based energy carriers production
Denmark’s Copenhagen Infrastructure Partners (CIP) has entered into an option agreement with Naturgassparken Vest, a real estate company jointly owned by CCB Energy and Norwegian Øygarden municipality, to establish the production of hydrogen-based energy carriers in the Energy Park. The agreement wa
Innovate UK grants $1.9 million for wave energy project in Thailand
Swedish-Israeli wave energy developer Eco Wave Power Global (EWP) has announced winning a £1.5 million grant (almost $1.9 million) as a part of a consortium led by UK-based Toshiba and Aquatera, to design a pilot microgrid project for a remote island in Thailand. The grant is a part of round ten of
Varma invests in green transformation of ESL Shipping
Finland’s pension insurance company Varma Mutual Pension Insurance Company has agreed to co-invest €15 million alongside OP Finland Infrastructure LP in compatriot shipping company ESL Shipping, a subsidiary of Aspo Plc.
Germany and Algeria boost cooperation with new hydrogen pact
Germany and Algeria have signed a declaration of intent to establish a bilateral hydrogen task force as part of their energy partnership. Furthermore, there are plans for a hydrogen pilot plant installation. According to the German Federal Ministry for Economic Affairs and Climate Action (BMWK), the
New zero-emission hydrogen-powered vessel to ship goods on Rhine
Dutch shipowner Future Proof Shipping (FPS), the EU-funded Flagships project and the Interreg-funded ZEM Ports NS project have launched H2 Barge 2, a hydrogen-powered vessel that, according to the parties, will ship goods completely emission-free on the Rhine between Rotterdam, the Netherlands, and
Plans for ammonia import terminal in Hamburg port gain ground
Hamburg-based energy company Mabanaft has hit a new milestone in the progress of its planned ammonia import terminal in the Port of Hamburg with the scoping meeting held as part of the approval process. The meeting was completed on January 30 in the run-up to the approval procedure for the construct
Hexagon Purus gears up for hydrogen surge by expanding business
Hexagon Purus Maritime, a wholly-owned subsidiary of Norwegian Hexagon Purus, has opened new premises in Ålesund in line with the increasing demand for innovative hydrogen storage solutions for maritime applications. The new premises at the Devold factory in Ålesund consist of 450 square meters of o
Minesto receives funding for next-generation mooring system
The Swedish Energy Agency has awarded Minesto with 2.8M SEK (approximately $267,000) to support the development and testing of a mooring system for ocean energy deployment. The grant co-funds a project through which Minesto will advance the performance of the next-generation tether system that moors
Gasum bunkers Seaworks’ LNG-powered dry bulk vessel in Norway
Energy company Gasum has performed the first LNG bunker delivery to shipping company Seaworks’ new dry bulk vessel in Norway. Gasum said that the “delivery not only marks a historic moment for our customer, Seaworks, but also signifies their inaugural venture into LNG dual fuel technology.” Furtherm
Special purpose company established for potential Greek-Saudi electricity interconnector
Greece and Saudi Arabia have officially established a special purpose company for exploring the feasibility of an electricity interconnector between the two countries. The special purpose company Saudi Greek Interconnection was established by the Greek electricity grid operator Independent Power Tra
CCS, nuclear come under fire as EU sets 2040 climate goals, broadens scope of Net-Zero Industry Act
The European Council and Parliament reached a provision deal on Tuesday, February 6, on the ‘net-zero industry act’ (NZIA), a regulation that establishes a framework of measures for strengthening Europe’s net-zero technology products manufacturing ecosystem. The regulation aims at boosting the indus