Outlook & Strategy
Norsepower rolls out rotor sail leasing initiative
Finnish cleantech company Norsepower Oy, Japan’s shipowner IINO Kaiun Kaisha (IINO Lines), and compatriot Mizuho Leasing Company have signed a cooperation agreement to launch a mechanical sail leasing initiative for Norsepower’s rotor sail. This move aims to increase shipping companies’ access to No
€900 million win for Prysmian in New York
Prysmian Group has signed an agreement worth approximately €900 million to deliver submarine and land power cable systems for what is said to be one of the largest transmission infrastructure projects in the U.S. Clean Path New York is an $11 billion renewable energy project comprising 3,800 MW of w
Furetank and Algoma’s first dual-fuel Vinga-class ship hits the water
Swedish shipping company Furetank and its Canadian counterpart Algoma Central Corporation have welcomed the launching of the first vessel intended for their joint venture FureBear. The vessel, named Fure Vanguard, is the ninth sister ship in the Vinga class and the ship was officially launched at C
Hydrogen Council welcomes three new members
UAE-based renewable energy company Abu Dhabi Future Energy Company (Masdar), Indian multinational conglomerate Larsen and Toubro (L&T) and Belgium’s Agfa have joined the Hydrogen Council, a global CEO-led initiative that brings together companies with a united vision and long-term ambition for hydro
DET holds capacity allocation auctions for German North Sea coast terminals
The state-owned operating company Deutsche Energy Terminal (DET), responsible for the marketing and operation of the four LNG terminals (FSRU) on the German North Sea coast, has for the first time marketed regasification capacities of the terminals in digital auction rounds. On a total of six market
A.P. Moller Holding-backed C2X advances plans for green methanol production in Spain
C2X, a recently established company backed by A.P. Moller Holding as majority owner and A.P. Moller – Maersk as minority owner, has concluded the first phase to secure the concession for a large site for green methanol production with the port of Huelva in Spain. After signing a framework agreement
Better contracting conditions and high activity back Fugro
Fugro’s revenue for the third quarter of 2023 is €608.9 million, an increase from €480.2 million reported in the same quarter of 2022 – a result said to be due to better contracting conditions, high activity levels and good project execution. Fugro reported that its revenue was up by 32.6% on a curr
EU & Namibia boost collaboration on sustainable raw materials and H2
European Commission (EC) President Ursula von der Leyen and President of Namibia Hage Geingob have endorsed the roadmap for the EU–Namibia strategic partnership on sustainable raw materials value chains and renewable hydrogen, supported by €1 billion in investments by the EU, its member states and E
11-meter-long Kongsberg AUV makes a splash
Kongsberg Discovery has commenced an extensive program of sea trials for its new long-range autonomous underwater vehicle (AUV) Hugin Endurance. Measuring approximately 11 meters in length, with a diameter of 1.2 meters and weighing around 8,000 kg, Hugin Endurance is said to be the largest member o
Bord Gáis Energy joins ESB and dCarbonX on green hydrogen storage project
Bord Gáis Energy, part of Centrica plc, has joined ESB and dCarbonX on the Kestrel project which proposes the re-development of decommissioned gas reservoirs at the Kinsale Head gas field offshore Ireland for large-scale green hydrogen storage. ESB and dCarbonX, an associate company to Snam, have be
Dutch govt, maritime sector pledge €60 million to turbocharge shipbuilding innovation
The Dutch government has launched a sweeping maritime manufacturing industrial policy in collaboration with the maritime sector, aimed at driving the transition to cleaner energy and ensuring economic and military security. The effort, unveiled in Rotterdam on October 26, sets the stage for a joint
Fortescue to acquire 12.5% ownership interest in Norwegian Hydrogen
Fortescue, a global green energy, metals and technology company, has invested close to NOK 100 million ($8.9 million) to become a shareholder in Norwegian Hydrogen. The investment will see Fortescue acquire a 12.5% ownership interest in Norwegian Hydrogen, becoming the third largest shareholder. For
Report: Shell to cut low-carbon jobs and scale back hydrogen business
According to news agency Reuters, energy major Shell will cut at least 15% of the workforce at its low-carbon solutions division and scale back its hydrogen business as part of CEO Wael Sawan’s drive to boost profits. The staff cuts and organizational changes come after Sawan, appointed as CEO in Ja
Winners of Denmark’s first PtX tender to build over 280 MW of electrolysis capacity
The Danish Energy Agency has closed the first Power-to-X tender, revealing six winning project divided between four companies. The selected six projects will together build over 280 MW of electrolysis capacity. The tender was launched in April and was open until September 1, 2023. Through the tender