Outlook & Strategy
EMEC secures funding for hydrogen innovation and development projects
European Marine Energy Centre (EMEC) has won funding, totalling over £500,000 (around $623,000), for four feasibility projects supporting green hydrogen innovation and development. More specifically, the funding is expected to be used to conduct feasibility studies supporting the development of nove
‘No guarantee sale will be completed’ as UK firm faces another delay in purchase of North Sea license
United Oil & Gas (UOG) has agreed to give more time to UK-headquartered oil and gas company Quattro Energy to secure funding for the purchase of a license in the UK Central North Sea that includes an existing hydrocarbon discovery. The two parties entered into a binding asset purchase agreement (APA
MSC charts course for ammonia-powered containership with industry majors
The world’s largest container shipping company Mediterranean Shipping Company (MSC) has signed a Memorandum of Understanding (Mou) with Lloyd’s Register (LR), Shanghai Merchant Ship Design & Research Institute (SDARI) and MAN Energy Solutions (MAN-ES) for a design for the ammonia dual-fuel operation
Subsea 7’s 2024 graduate program opens for applications
Subsea 7 has launched applications for its two-year engineering graduate program for next year which takes place in the French capital. According to Subsea 7, the Graduate Engineer Development Scheme (GEDS) involves both on and off-the-job development and exposes graduates to a variety of engineerin
Happy Women in Maritime Day: Time to navigate the unresolved challenges
The International Maritime Organization (IMO) International Day for Women in Maritime is celebrated annually on the 18th of May and aims to honour women in the industry and encourage recruitment, retention and continued employment in the sector. This is the second International Day for Women in Mari
MSC sets record as 1st ocean carrier to hit 5 mil TEU in fleet capacity
In a groundbreaking milestone for the global shipping industry, Mediterranean Shipping Company (MSC) has emerged as the first ocean carrier to surpass a staggering 5 million TEU (twenty-foot equivalent units) in fleet capacity, as confirmed by analysts at Alphaliner. The impressive feat highlights M
20 carbon storage licenses offshore UK offered to 12 companies
The North Sea Transition Authority (NSTA) has offered 12 companies awards for 20 carbon storage licenses in the UK’s first-ever CO2 storage licensing round. The NSTA launched the UK’s first-ever carbon storage licensing round in June 2022, with applications closing in September. The 20 licenses in t
Peninsula renews its syndicated European credit facility
Marine fuel supplier Peninsula has confirmed the renewal of its syndicated European credit facility, reporting an increase from $350 million to $450 million. The supplier said that, together with the group’s Asian syndicated facility and other bilateral lines, the increase in the European credit fac
Italy, Austria and Germany back hydrogen-ready pipeline connecting North Africa to Central Europe
Southern hydrogen corridor or SoutH2 Corridor, a hydrogen-ready pipeline corridor connecting North Africa to central Europe, has received support from Italian, Austrian and German ministries of energy for its development in the European Union and for the respective infrastructure projects to obtain
bound4blue and Oceanking join forces to bring eSAIL tech to Greece and Cyprus
bound4blue, a developer of wind-assisted propulsion technology, and Oceanking, a Greece-based provider of marine technology solutions, have formed a partnership to jointly expand access to the eSAIL technology in Greece and Cyprus. bound4blue’s eSAIL is a wind-assisted propulsion system known as a s
Uzmar Shipyard to build two TRAnsverse tugs for Svitzer
Svitzer, a towage provider and part of A.P. Moller-Maersk, has awarded a contract to Uzmar Shipyard to build two new TRAnsverse tugs for its Australian business. According to Svitzer, the TRAnsverse tugs, created in collaboration with Robert Allan Ltd., deliver an estimated 10-15% reduction in fuel
GOGL CEO: Green transition and making money is NOT mutually exclusive
Investment in decarbonization for a shipping company may appear counterintuitive to its profitability due to several factors. Firstly, the upfront costs of transitioning to low-carbon technologies, such as investing in eco-friendly vessels or retrofitting existing ones, can be substantial. These exp
DAI and Freepan pen 10-year green ammonia purchase deal
DAI Infrastructure GmbH and Freepan Holdings Corp have entered a ten-year green ammonia purchase agreement. The companies signed a Memorandum of Understanding (MoU) according to which Freepan will offtake 800 000 TPA of green ammonia. According to DAI, the green ammonia will be produced in East Port
New UK cable layer to run on methanol once delivered in 2025
UK-based HVDC cable company XLCC has completed model testing on its new cable laying vessel (CLV) that was announced last year and which will be deployed in the renewable energy sector. The vessel will feature battery energy storage systems and shore power to reduce fuel consumption and has been des