Bermuda-based bulk carrier company Himalaya Shipping has entered into a time charter agreement with an undisclosed ‘major’ Japanese counterpart for one vessel under construction at New Times Shipbuilding in China. Under the agreement, the vessel will commence a two-year time charter upon delivery fr
The Biden-Harris Administration, through the U.S. Department of Energy (DOE), has revealed its intent to issue $750 million in funding from President Biden’s Bipartisan Infrastructure Law to reduce the cost of clean hydrogen technologies. The funding is seen as a crucial component of the Administrat
In the final round of talks over the weekend, the EU Council and the European Parliament hammered out a provisional political agreement on legislative proposals of the ‘Fit for 55’ package that aim to further reduce emissions and address their social impacts. The ‘Fit for 55’ package is aimed at ena
Norwegian oil and gas company Aker BP has awarded Subsea 7 with three contracts for the delivery of equipment and installation services for projects located offshore Norway. Subsea 7 confirmed the award of a “major” contract for the Yggdrasil field development project, formerly NOAKA, a “large” cont
UK’s regulator North Sea Transition Authority (NSTA) has fined EnQuest, Equinor, and Spirit Energy a total of £265,000 or $322,437.
Norway’s cleantech company TECO 2030 has received its first future funnel purchase order, valued at NOK 5.5 million (€0.5 million), from an undisclosed European shipowner. The estimated delivery of the future funnel, TECO 2030 Model 8, is at the end of Q1, the beginning of Q2 2023, and TECO 2030’s t
Eco (Atlantic) Oil & Gas has secured all the required approvals for the acquisition of an additional interest in a block off South Africa.
The European Union has launched a funding call under its Horizon Europe program, looking for tidal energy farm demonstration projects, as it aims to improve market confidence and sustainability of tidal energy technology.
Offshore energy industries, which up until recently had little in common, are becoming increasingly intertwined as governments and private sectors step up their game for a more integrated and sustainable energy mix of the future.
Aker BP has submitted a PIO and ten PDOs for oil and gas projects to the Norwegian Ministry of Petroleum and Energy.
The IMO failed to adopt a concrete shipping decarbonisation target for shipping this week following the Marine Environment Protection Committee (MEPC 79) meeting that ended earlier today. The support from the member countries for eliminating the industry’s emissions by 2050 and for setting interim t
Valaris has been awarded new contracts for a drillship and three jack-up rigs and contract extensions for three more rigs.
South Korean shipping major HMM is preparing an order for new containerships powered by alternative fuels as part of its future growth strategy. The strategy was announced in July this year with HMM assigning $11.3 billion for future investments, including expansion of its eco-friendly ships from th
Car carrier newbuild ordering has increased significantly in 2021 and 2022 on record markets and the resumption of owners’ fleet renewal programmes, including efforts to support manufacturers to become ‘green through the supply chain’. The market recovery is primarily driven by post-covid car trade
