U.S. oil and gas majors Chevron and ExxonMobil have revealed record 2022 profits of $35.5 billion and $55.7 billion, respectively.
South Korean shipbuilding major Korea Shipbuilding & Offshore Engineering (KSOE) has won an order for the construction of twelve very large container ships from an unnamed European shipping company. The vessels will be built by KSOE’s subsidiary Hyundai Samho Heavy Industries and the contract is wor
Groningen-based shipping company ForestWave has completed the acquisition of Symphony Shipping and its fleet of eight Ecobox vessels. The transaction pushes its owned fleet to 24 units with a total of 248.197 dwat, including three newbuilding vessels that will be delivered in the next two years. One
In its latest report, technology company IDTechEx has forecasted accelerated adoption of green fuel cells, notably hydrogen fuel cells, in marine markets. The maritime sector, which accounts for approximately 2.9% of global carbon emissions, is seeking to meet broader climate goals such as the Paris
Dutch Wagenborg Offshore has signed a long-term agreement with an “energy major” for a platform supply vessel (PSV) that will be converted into a multipurpose offshore vessel set to support subsea activities and decommissioning works. A young PX121 PSV will be converted into a multipurpose offshore
Italy’s Ministry of Environment and Energy Security has launched the authorization procedure for the construction of a new direct-current submarine power line connecting the regions of Abruzzo and Marche. The 1 GW Adriatic Link will run for a total of approximately 250 kilometers, made up of two sub
The global market for oil and gas contractors is expected to rise to a peak of $1 trillion in 2025 and remain at high levels for several years, according to a report by energy intelligence group Rystad Energy. For the 2022-2028 period, overall oil and gas spending is anticipated to stay above $920 b
Danish company Wavepiston has unveiled plans to launch a new crowdfunding campaign to support the demonstration of its wave energy technology at full scale.
Singapore-based tanker owner and operator Hafnia has kicked off the year with the delivery of the first of four new dual-fuel LR2 product tankers. Guangzhou Shipbuilding International (GSI), a subsidiary of China State Shipbuilding Corporation, delivered the LNG-powered Hafnia Languedoc at a naming
Western Australia (WA) and South Korea have signed a letter of intent (LoI) to collaborate on energy transition and downstream processing of resources. In what was described as a historic LoI, the WA Government and the Republic of Korea’s Ministry of Trade, Industry and Energy (MOTIE) agreed to coop
Swedish marine energy company Minesto has signed an agreement with Poseidon Renewable Energy Corporation for strategic collaboration on the roll-out of tidal energy power plants in the Philippines.
Norwegian energy companies Equinor and Vår Energi are withdrawing from the Horisont Energi-operated Barents Blue project, also known as Europe’s first large-scale blue ammonia production facility. Equinor and Vår Energi decided to leave the project as the cooperation agreement expired on 31 January.
Swedish Project Air is moving full steam ahead with Düsseldorf-based energy company Uniper commissioning the Dresden-based company Sunfire to build a 30 MW pressurized alkaline electrolysis plant which will generate green hydrogen using renewable electricity and purified wastewater. The final invest
Singapore-based shipowner Kumiai Navigation has doubled its order for dual-fuel VLGC newbuildings at Kawasaki Heavy Industries to two ships. Each vessel has a capacity of 86,700 cbm for LPG/liquefied ammonia gas. The first vessel from the series was ordered last year, and now the company has two VLG
