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Market Outlooks

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IMO MEPC 77 to test govts’ decarbonisation commitments
Market Outlooks

IMO MEPC 77 to test govts’ decarbonisation commitments

This week, 174 governments will meet at the International Maritime Organization (IMO) in London to discuss the pressing carbon emission reduction challenges in the shipping industry.

about 4 years ago
Concept for Ocean Harvesting's InfinityWEC (Courtesy of Ocean Harvesting Technologies)
Market Outlooks

Ocean Harvesting commissions InfinityWEC test rig

Swedish wave energy developer Ocean Harvesting Technologies has commissioned a Hardware-in-the-Loop (HIL) test rig to validate the InfinityWEC’s power take-off (PTO) with instant force control capabilities.

about 4 years ago
INTERTANKO
Market Outlooks

INTERTANKO backs shipping’s net zero emissions path by 2050

International shipping should strive to achieve net zero CO2 emissions by 2050, the Council of Members of the International Association of Independent Tanker Owners (INTERTANKO) has agreed.

about 4 years ago
Asia-Pacific LNG shipping rates surge to all-time high
Market Outlooks

Platts: Asia-Pacific LNG shipping rates surge to all-time high

According to Platts, Asia-Pacific LNG shipping day rates have reached an all-time high of around $300,000 a day for a standard LNG carrier due to winter demand.

about 4 years ago
Photo showing the newly built wave energy plant in South Korea (Courtesy of The Ministry of Oceans and Fisheries of South Korea)
Market Outlooks

Brand new wave energy plant emerges in Far East

South Korea has completed the construction of a wave energy demonstration plant, equipped with energy storage system, on one of the islands of the Chuja archipelago in the Jeju Strait.

about 4 years ago
UNCTAD
Market Outlooks

UNCTAD: Asia ranked as world’s largest seafarer pool

Asia is the largest provider of seafarer workforce in the world accounting for four of the top five countries supplying seafarers in 2021, a new report published by the United Nations Conference on Trade and Development (UNCTAD) revealed.

about 4 years ago
L to R: António Sarmento; Shigeru Ushio (Courtesy of WavEC Offshore Renewables)
Market Outlooks

Portugal and Japan deepen marine energy ties to advance energy transition

A special online conference has been organized by Portugal’s leading marine energy R&D centre, WavEC Offshore Renewables, to provide a platform for Japanese energy firms, institutions and government officials to uncover key marine renewable energy opportunities in the region.

about 4 years ago
Maritime
Market Outlooks

Maritime trade growth to slow down in coming years, UNCTAD predicts

Annual growth in maritime trade between 2022 and 2026 will slow to 2.4%, compared to 2.9% over the past two decades, a new UNCTAD report predicts.

about 4 years ago
Photo showing Orbital Marine's O2 tidal energy turbine (Courtesy of Orbital Marine Power)
Market Outlooks

Orbital Marine forms ‘game-changing’ partnership with TechnipFMC for tidal energy scale-up

Scottish company Orbital Marine Power has established a strategic partnership with one of the leading offshore energy players TechnipFMC to accelerate the global commercialisation of its pioneering tidal energy technology.

about 4 years ago
Falling costs make new oil cheaper, Rystad
Market Outlooks

Climate policies should focus on demand as falling costs make new oil cheaper to produce, Rystad says

An analysis of the annual cost of supply by Rystad Energy has revealed that costs within the upstream sector have come down considerably in 2021.

about 4 years ago
Photo showing the UniWave200 wave energy unit (Courtesy of WSE)
Market Outlooks

Wave Swell Energy embarks on €1.6M capital raise

Australian wave energy company Wave Swell Energy (WSE) has launched a capital raising round of Au$2.5 million (€1.6 million) to fund a technology enhancement program under its Bluefire project.

about 4 years ago
Study: Pollutant emissions in ports more than doubled during pandemic
Market Outlooks

Study: Pollutant emissions in ports more than doubled during pandemic

The pollutant emissions from the shipping sector increased significantly in major international seaports during the COVID-19 pandemic, researchers from Nanyang Technological University, Singapore (NTU Singapore) have found.

about 4 years ago
Green Marine-WOC partnership targets maritime sustainability
Market Outlooks

Green Marine-WOC partnership targets maritime sustainability

Voluntary environmental certification program Green Marine and international cross-sectoral alliance World Ocean Council (WOC) have signed a Memorandum of Understanding (MoU) to improve maritime sustainability.

about 4 years ago
Offshore wind cable market to grow six-fold this decade – RenewableUK
Market Outlooks

Offshore wind cable market to grow six-fold this decade – RenewableUK

The market for offshore wind farm cables is set to grow six-fold over the course of this decade, according to a new report published by RenewableUK. The global market for subsea power cables is divided between array cables which run between the turbines of an offshore wind farm connecting them to th

about 4 years ago
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