Chinese shipping major COSCO Shipping and global oil giant bp inked a Memorandum of Understanding (MoU) of strategic cooperation at Marintec in Shanghai. The strategic cooperation memorandum outlines plans to expand the scope of collaboration, exploring new avenues for cooperation. Key areas of focu
BP has started drilling the first well from its operated Azeri Central East (ACE) platform in the Caspian Sea off the coast of Azerbaijan.
Container shipping companies Hapag-Lloyd and CMA CGM revealed that they entered into collaboration with Nestlé, a Switzerland-based food & beverage company, aiming to advance cleaner shipping.
Europe’s shipping investor Hayfin Capital Management has completed a fundraising process for its Maritime Yield strategy, attracting $400m in capital commitments for the fund. With the latest financing round, Hayfin will have the capacity to acquire up to $1bn of shipping assets when coupled with co
ExxonMobil and Chevron have disclosed their capital investment expectations, encompassing oil and gas plays along with emission-reduction solutions.
Belgian tanker company Euronav NV confirmed this morning that it has lifted the option for one more very large crude carrier (VLCC) at Chinese shipyard Qingdao Beihai and ordered two Suezmaxes at Daehan Shipbuilding in South Korea. The confirmation comes on the heels of shipbroker reports on the ord
Ecomotus’ EcoPro fuel catalyst system, a standalone retrofit design that uses hydrogen to reduce emissions and improve fuel efficiency on marine engines, has been granted full-type approval by the classification society RINA. The EcoPro system is said to optimize the engine’s fuel combustion, contin
British energy major BP has shared a progress update from its planned integrated Kwinana energy hub in Western Australia which includes green hydrogen production. H2Kwinana, a green hydrogen project, is part of BP’s plans to transition its former oil refinery site in Kwinana into an energy hub. The
The first of eighteen large methanol-powered vessels ordered by Danish shipping and logistics giant A.P. Moller-Maersk will be deployed on the Asia-Europe trade lane, the company revealed.
Norwegian diving contractor SubseaPartner has won a contract to deliver a new diver launch and recovery system in the North Sea for Vår Energi. SubseaPartner said it was awarded a substantial contract by Ocean Installer for the 2024 season for end-client Vår Energi as part of the Balder Future Proje
Renewable energy developer CWP Global and the Government of the Republic of Djibouti have signed a joint declaration on accelerating CWP’s Green Star Hydrogen Hub, a 5-10 GW green hydrogen project that aims to redefine the energy landscape in the Horn of Africa. The parties signed the joint declarat
South Korean shipping giant HMM has inked a landmark contract with China State Shipbuilding Corporation (CSSC) for the construction of up to ten 10,800 CEU LNG dual fuel car carriers. The vessels are set to be constructed at CSSC’s Guangzhou Shipyard International (GSI) for a price of $732 million.
UK’s BP Gas & Power Investments and Indonesia’s logistics and supply chain company PT AKR Corporindo have signed a joint development agreement to work on an LNG import project involving a regasification terminal in Java Integrated Industrial and Port Estate at Gresik, East Java, Indonesia (JIIPE). A
China Classification Society (CCS) has awarded dozens of Approvals in Principle (AIP) at this year’s China International Maritime Exhibition (Marintec China). The exhibition is one of the most authoritative B2B platforms for the international maritime industry and it has seen numerous business deals
