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Outlook & Strategy

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NKT secures copper supply for next ten years
Outlook & Strategy

NKT secures copper supply for next ten years

As its copper demand continues to grow in line with the expansion of production facilities, Denmark-headquartered NKT has renewed its long-term copper supply agreement with European mining and smelting company KGHM, ensuring availability for the next decade. The current contract was signed in 2023 a

about 8 months ago
€17.5M investment to expand EMEC’s tidal energy test facilities
Outlook & Strategy

€17.5M investment to expand EMEC’s tidal energy test facilities

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The European Marine Energy Centre (EMEC) has secured a £15 million (around €17.5 million) investment to expand its tidal energy research and development (R&D) infrastructure in Orkney, Scotland. The Blue Horizon project will expand EMEC’s tidal test facilities to enable the demonstration of tidal en

about 8 months ago
Reach Subsea about to begin six-month survey campaign for second Shetland HVDC link
Outlook & Strategy

Reach Subsea about to begin six-month survey campaign for second Shetland HVDC link

Norway’s Reach Subsea is anticipated to commence an offshore survey campaign next week for the second 525 kV HVDC cable link between Shetland and the Scottish mainland, known as the Shetland HVDC Link 2. Shetland 2 will connect 330 kilometers between Shetland and the mainland to bring 2 GW of renewa

about 8 months ago
‘World’s most powerful’ subsea trencher in Port of Blyth for fit-out and commissioning
Outlook & Strategy

‘World’s most powerful’ subsea trencher in Port of Blyth for fit-out and commissioning

A new subsea trencher destined for Danish power cable manufacturer and installation firm NKT, deemed the world’s most powerful, has arrived at the UK’s Port of Blyth to continue the fit-out and commissioning. NKT announced the investment in the NKT T3600 trencher in June 2025, as part of its ongoing

about 8 months ago
Østensjø Rederi’s hybrid tug to feature Finland-made propulsion
Outlook & Strategy

Østensjø Rederi’s hybrid tug to feature Finland-made propulsion

Spain’s GONDAN Shipbuilders has placed an order with Finnish company Steerprop to deliver propulsion for a new hybrid tugboat, the first tug design from naval architect Skipsteknisk, destined for Norwegian shipowner Østensjø Rederi. Steerprop will supply dual-end versions of its SP 50 W D propulsors

about 8 months ago
First of 7 transformers delivered for first UK-Germany energy link
Outlook & Strategy

First of 7 transformers delivered for first UK-Germany energy link

Siemens Energy has delivered the first of seven transformers that will help to power NeuConnect, the first energy link between the UK and Germany. The transformer was taken from Siemens Energy’s factories in Nürnberg, Germany, and delivered by barge along the Rhine River to Rotterdam, the Netherland

about 8 months ago
Türkiye‘s national oil & gas company enters Bulgarian offshore license as partner to Shell
Outlook & Strategy

Türkiye‘s national oil & gas company enters Bulgarian offshore license as partner to Shell

Türkiye‘s national oil & gas giant Türkiye Petrolleri A.O. (TPAO) has become a partner in an offshore exploration license in Bulgaria, located near Sakarya, Türkiye’s largest natural gas field. TPAO reported today, February 18, that it had, as a partner, joined the exploration license in the Khan Te

about 8 months ago
Testing aimed at improving megawatt-scale tidal energy device wraps up in Ireland
Outlook & Strategy

Testing aimed at improving megawatt-scale tidal energy device wraps up in Ireland

Marine energy technology and project solutions provider ORPC has completed testing activities that had the goal of improving installation, operation and maintenance of its megawatt-scale tidal energy device. The testing, wrapped up at the end of 2025, was part of the ORPC-led LOGIC-Tide research and

about 8 months ago
Deep Value Driller drillship; Source: Deep Value Driller
Outlook & Strategy

Saipem to buy seventh-gen Deep Value Driller drillship for $272.5 million

Norwegian drillship-owning company Deep Value Driller has entered into an agreement with Italy’s engineering, drilling, and construction services giant Saipem for the sale of its seventh-generation drillship for a total purchase price of $272.5 million. In the announcement of the amended bareboat ch

about 8 months ago
Wärtsilä, Abu Dhabi Maritime Academy working together on maritime industry’s sustainability
Outlook & Strategy

Wärtsilä, Abu Dhabi Maritime Academy working together on maritime industry’s sustainability

Finnish technology group Wärtsilä and Abu Dhabi Maritime Academy (ADMA) have signed a memorandum of understanding (MoU) to collaborate on decarbonization targets, digitalization goals, smart port solutions and training to support the maritime industry’s transition to sustainable operations. “This co

about 8 months ago
VARD delivers newly converted seismic source vessel to Sanco Shipping
Outlook & Strategy

VARD delivers newly converted seismic source vessel to Sanco Shipping

Norway’s VARD has delivered the seismic source vessel Sanco Sailor to compatriot Sanco Shipping, following the completion of conversion from a seismic research vessel. Sanco Shipping purchased Sanco Sailor in July 2025, at the time named PGS Apollo, after which the 2010-built, 106.6-meter-long vesse

about 8 months ago
Five companies lined up for Scotland’s €1B subsea electricity network upgrade
Outlook & Strategy

Five companies lined up for Scotland’s €1B subsea electricity network upgrade

Scottish and Southern Electricity Networks (SSEN) Distribution has selected five contract partners to help deliver future investment of up to £950 million (about €1.09 billion) in the Scottish subsea electricity network and support the multi-year framework to renew and upgrade subsea electricity lin

about 8 months ago
Man with a hardhat with words "Chevron" on it with an offshore rig in the background
Outlook & Strategy

Chevron, Helleniq Energy win leases to explore four blocks offshore Greece

U.S.-headquartered Chevron, through its four Dutch subsidiaries, and Greece’s Helleniq Energy have signed lease agreements with the Greek government for the exploration of four blocks offshore Greece. The awarded consortium, in which Chevron holds a 70% operating interest and Helleniq Energy a 30% i

about 8 months ago
Eco Wave Power enters deal for potential financing of global wave energy projects
Outlook & Strategy

Eco Wave Power enters deal for potential financing of global wave energy projects

Eco Wave Power has signed a letter of intent (LoI) with Wavefront Asset Management (WAM) under which the UK-based asset management firm is expected to provide structured equipment financing and leasing solutions to support the deployment of Eco Wave Power’s wave energy generation equipment across it

about 8 months ago