Outlook & Strategy
Technip Energies presents LNG train solution SnapLNG
Engineering and technology company Technip Energies has announced SnapLNG, an innovative modular, pre-engineered and standardized solution for LNG decarbonized production. It is a 2.5 mtpa electrically driven LNG train solution comprised of reproducible modules ready for delivery and installation. T
Prysmian completes all activities for Viking Link
Prysmian Group has completed the installation and HV testing activities of its submarine and land power cables for the Viking Link interconnector connecting the UK and Denmark. Prysmian was awarded the contract worth approximately €700 million in August 2019 by the UK’s National Grid and Danish Ener
Höegh LNG, Aker BP forge alliance on CO2 transportation and storage
Norwegian owner and operator of LNG carriers and FSRUs Höegh LNG has entered into a strategic partnership with oil major Aker BP to develop a fully comprehensive carbon capture and storage (CCS) offering for industrial CO2 emitters in Northern Europe. Under the agreement, the two companies plan to c
ExoTechnologies and RONN team up on hydrogen propulsion
The Isle of Man-based ExoTechnologies, the owner of Glasgow boat builder Ultimate Boats, and Arizona-based hydrogen car and truck maker RONN have entered a hydrogen propulsion partnership. The companies, which signed a Letter of Intent (LoI), are expected to develop clean hydrogen electric propulsio
In focus: Backed with government and private funding, offshore energy and shipping industries go full steam ahead towards net-zero future
Europe and the United States have set in place a number of funding programs designed to boost and accelerate the development of a very diverse ‘clean energy sector’, which is being backed by significant initiatives from the major players coming from the more established maritime and oil and gas indu
Shell Ventures invests in Value Group
Dutch sustainability firm Value Group, which brings together sister companies Value Maritime and Value Carbon, revealed that Shell Ventures has joined Value Group’s investor base to accelerate and expand Value Group’s carbon capture utilisation and storage strategy. Shell Ventures, the corporate ven
CMA CGM wraps up GCT acquisition, eyes development and decarbonization investments
French shipping major CMA CGM Group has finalized its acquisition of Global Container Terminals (GCT) Bayonne and New York terminals which was announced in December last year. “Through this strategic investment, the group strengthens its position as a global port terminal operator, and a leading sup
Despite higher day rates, new rig orders not on the cards soon, says Westwood
While Westwood believes that a newbuilding cycle will not happen anytime soon, any new rig orders are likely to be for jack-ups.
Ammonia-powered ships expected to be 50-130 pct pricier to build
The financial cost of building an ammonia-powered gas carrier is poised to outstrip that of an equivalent gas carrier by a staggering 50 to 130 percent over the forthcoming years. The estimate builds upon findings from interviews with actors across the ship finance space including banks, funds, priv
Exceedence launches €500K crowdfunding campaign
Irish fintech company Exceedence has launched a crowdfunding campaign on Seedrs platform, aiming to raise €500,000 to advance its software solution exfin that can help accelerate the roll out of offshore wind, wave and tidal energy projects.
EC publishes terms & conditions ahead of hydrogen bank pilot auction
The European Commission (EC) has published terms and conditions for its upcoming pilot auction dedicated to European renewable hydrogen production under the umbrella of the EU Hydrogen Bank. The auction is funded by the Innovation Fund and is intended to open on 23 November 2023. It will award up to
Survey: Passengers interested in paying more for reduced emissions
An impressive majority of 68 percent of Finnish maritime respondents who participated in a recent survey have expressed their willingness to pay more money in exchange for emission reduction on their travels. The EPSI Rating’s Passenger Transport 2023 survey examined the customer experience and cust
Wärtsilä and Furetank crack down on methane slip
Finnish marine technology supplier Wärtsilä and Swedish shipping company Furetank are co-developing and testing two technologies showing the potential to halve the methane slip of LNG-fueled ships. Methane slip on LNG-powered vessels refers to the unintentional release of methane, a potent greenhous
‘Renewables for subsea power’ project secures extension after successful offshore trial
A collaborative renewable subsea power project, run by Mocean Energy and Verlume, alongside Baker Hughes, Serica Energy and others, has completed an initial four-month test program and secured extension for further testing in the North Sea.