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Vahana Aryan self-propelled jack-up rig; Source: DNV

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Rig becomes world’s first jack-up with DNV’s Abate-Ready notation

DNV has awarded – what it describes as – the world-first Abate-Ready notation for a jack-up unit to the Dubai-based Vahana Marine Solutions.

about 3 years ago

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Hexter: There are virtually no barriers to adoption of methanol

This is a free premium article to give you a sample of what Offshore Energy has to offer as part of our premium section. Upgrade for premium access here. The decarbonization conundrum in the shipping industry persists due to a multitude of challenges, including the high cost of alternative fuels, th

about 3 years ago

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Xeneta praises Yang Ming as container industry’s ‘emission hero’ in Q4 2022

Taiwanese container shipping giant Yang Ming has been described as the container industry’s ‘emission hero’ for all relevant CEI-covered trades in Q4 2022, according to an analysis of Xeneta’s Carbon Emissions Index (CEI). Xeneta said that Yang Ming was the industry’s only major player to score belo

about 3 years ago

The ‘EWP-EDF One’ project (Courtesy of Eco Wave Power)

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Eco Wave Power signs Israel’s first ever PPA for wave energy

Eco Wave Power has entered into an official power purchase agreement (PPA) with the Israeli National Electric Company (IEC) for the newly installed wave energy project at the Port of Jaffa in Tel Aviv.

about 3 years ago

Illustration; Source: Institute for Energy Economics and Financial Analysis (IEEFA)

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IEEFA warns of worsening inflation in power sector with carbon capture and storage in the mix

New report by IEEFA points out that adding CCS to fossil-fired power plants will have unsustainable implications on electricity prices.

about 3 years ago

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Counting the cost of going green: The steep price of switching to e-methanol

The adoption of alternative, low-carbon fuels in the shipping industry is one of the key aspects of achieving the goal of mitigating the impact of international maritime trade on air pollution and the emission of greenhouse gas. Cost is a particularly important consideration, as the adoption of new

about 3 years ago

Illustration; Source: International Energy Agency (IEA)

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With over 140 carbon capture, utilisation, and storage hubs in development, 2022 pushes CCUS to new heights

IEA: More than 140 new CCUS projects were announced, ramping up planned storage capacity by 80 per cent, and capture capacity by 30 per cent.

about 3 years ago

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Wreckdock sets sights on recycling up to 52 ships annually in its new facility

Wreckdock, a Jubail-based offshore vessel recycling company, has revealed plans to develop a safe and sustainable facility in Saudi Arabia for the circular demolition of vessels. The company plans to build four drydocks from 350 meters to 500 meters long with eight quays equipped with heavy-duty cra

about 3 years ago

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7 new members join methane busting initiative

Seven new members have joined the Methane Abatement in Maritime Innovation Initiative (MAMII), launched in September 2022. New members of the Methane Abatement in Maritime Innovation Initiative (MAMII) include CoolCo, United Overseas Management, Capital Gas, Celsius Tankers, Global Meridian Holdings

about 3 years ago

Sustainable Marine’s PLAT-I 6.40 platform deployed at Grand Passage in Nova Scotia (Courtesy of Sustainable Marine)

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IEA-OES: Ocean energy advancements made across the globe in 2022

Ocean Energy Systems (OES), a technology collaboration program within the International Energy Agency (IEA), has provided an overview of key achievements and progress made in the ocean energy sector in its new annual report for 2022.

about 3 years ago

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BIMCO: Scrubber installation set to rise despite 2022 fall

Exhaust gas cleaning systems, also known as scrubbers, were installed on 399 ships in 2022, marking a fall of 24% y/y, data from BIMCO shows. The systems are being installed on ships to comply with the IMO 2020 Sulphur Cap as a way of cleaning out sulphur emissions while continuing to burn less expe

about 3 years ago

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Oman makes multi-billion-dollar hydrogen move

Omani hydrogen company Hydrom, a subsidiary of Energy Development Oman (EDO), has signed six term-sheet agreements for hydrogen production worth more than RO 20 billion (around $51 billion) over the next seven years. The agreements were signed with developers from Belgium, the Netherlands, the Unite

about 3 years ago

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Offshore oil & gas set for growth with $214 bln of investments in the pipeline

With more than $200 billion of greenfield investments expected by 2025, the offshore oil and gas sector is expected to get back in the spotlight, says Rystad Energy.

about 3 years ago

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Saudi giant’s profit skyrockets to whopping $161.1 bln with oil & gas seen as ‘essential’ in energy arsenal

Aramco has posted its highest annual profit ever as a listed company, totalling $161.1 billion, amid high demand, tight supply and elevated oil and gas prices.

about 3 years ago