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Market Outlooks

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Sumitomo and Van Oord booked for second Shetland HVDC cable link
Market Outlooks

Sumitomo and Van Oord booked for second Shetland HVDC cable link

SSEN Transmission has entered into a capacity reservation agreement (CRA) with a consortium of Sumitomo Electric Industries and Van Oord for the supply and installation of a second 525 kV HVDC cable link between Shetland and the Scottish mainland, known as the Shetland 2 HVDC Link. The cable for the

about 1 year ago
Additional two years for OWF construction will cut risk and cost, Vattenfall's Ireen Geerbex says
Market Outlooks

Extending construction window for OWFs will cut cost and risk, Vattenfall’s Ireen Geerbex says

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Innovation in wind energy has been one of the main pillars driving the upscale of the sector, enabling better components, larger and stronger turbines, faster and more cost-effective logistics, but what about its integration into tenders? Innovative approaches in tender designs can have a major impa

about 1 year ago
The Marine Energy All-Party Parliamentary Group (APPG) has been relaunched under the new UK Parliament, with Orkney and Shetland member of parliament (MP) Alistair Carmichael as chair.
Market Outlooks

UK Members of Parliament push for increased support for marine energy projects

Last week, a parliamentary debate brought the future of the UK’s marine energy sector into focus, as Members of Parliament (MPs) called for enhanced government support to harness the country’s tidal and wave energy potential. The discussion underscored the need for funding and initiatives to solidif

about 1 year ago
IMO
Market Outlooks

IMO: Shadow fleet, decarbonization and geopolitical tensions are top 3 focus areas in 2025

The International Maritime Organization (IMO)—the world’s shipping regulator— prepares to address a range of pressing issues in 2025, with the top three being dark fleet, decarbonization and geopolitical pressures.

about 1 year ago
Netherlands zooms in on offshore hubs and interconnectors over energy islands
Market Outlooks

Netherlands looking at offshore hubs and interconnectors, where does hydrogen stand?

Energy islands are no longer being considered in the Netherlands. Instead, the focus has been shifted to offshore energy hubs and interconnectors. With rising (cyber)security concerns as a result of a number of recent incidents in European waters, as well as the Russia-Ukraine war, diversification o

about 1 year ago
product tanker
Market Outlooks

Product tanker deliveries to jump 256% in 2025

Product tanker newbuild deliveries are expected to reach 12 million deadweight tonnes (dwt) in 2025, with deliveries set to jump 256% compared to the 3.4 million dwt delivered in 2024, shipping association BIMCO revealed.

about 1 year ago
Long-term use of biofuels as marine fuel depends on affordable supply, DNV says
Market Outlooks

Long-term use of biofuels as marine fuel depends on affordable supply, DNV says

While biofuels still hold a reputation as a promising solution to the decarbonization of the maritime sector, their long-term use could be hindered by limited supply in the future, DNV pointed out in the latest white paper.

about 1 year ago
Illustration; Source: Westwood
Market Outlooks

$54 billion in engineering, procurement and construction contracting opportunities on offshore oil & gas agenda for 2025

The batch of new projects, which are expected to reach the EPC stage this year, is anticipated to lead to awards worth billions of dollars for jobs related to associated subsea equipment, offshore platforms, floating production units, and liquefied natural gas (LNG) equipment and facilities, based o

about 1 year ago
wind propulsion
Market Outlooks

Wind ship propulsion in maritime: 2024 was a year to remember

2024 was an exciting year in the ongoing development of the wind-assisted ship propulsion segment, with 54 large ships in operation and seven more designated as wind-ready.

about 1 year ago
DNV: LNG dominated alternative-fuel ship orderbook in ‘exceptional newbuilding’ year
Market Outlooks

DNV: LNG dominated alternative-fuel ship orderbook in ‘exceptional newbuilding’ year

Described as the maritime industry’s “exceptional newbuilding year”, 2024 yielded a record number of LNG-fueled ship deliveries, according to the latest data from DNV’s AFI platform.

about 1 year ago
llustration/Morlais Demonstration Zone (Archive/Courtesy of Marine Energy Wales)
Market Outlooks

Wales introduces strategic resource areas for tidal stream energy

Wales has taken a step forward in marine planning by introducing its first Strategic Resource Areas (SRAs) for tidal stream energy, aiming to foster the sustainable development of marine energy while safeguarding sensitive ecosystems. The Welsh government launched its first marine plan in 2019, layi

about 1 year ago
BIMCO
Market Outlooks

BIMCO: Containership orderbook skyrockets to new record high of 8.3M TEU

The global containership order book hit a new record in 2024 as the sector prepares to replace aging ships that are not compliant with new environmental regulations. On the other hand, the scrapping volumes are steadily declining, falling in the last three years well below average figures.

about 1 year ago
Fast4Ward design; Source: SBM Offshore
Market Outlooks

SBM Offshore on FPSO landscape: Oil & gas demand unlocking financing with CCS poised for ‘biggest impact’ in emission cuts

With a backlog of $33 billion and sustainability at the heart of its strategy to future-proof its floating production units, SBM Offshore is expecting to see a new batch of 40 floating production, storage, and offloading (FPSO) opportunities in the next three years, out of which around 16 are antici

12 minutes read
Key things to watch for hydrogen in 2025, according to WoodMac
Market Outlooks

Key things to watch for hydrogen in 2025, according to WoodMac

The pace for the low-carbon-hydrogen and ammonia sectors is set to pick up in 2025, with key themes to watch for including the rise of blue hydrogen in the U.S., a giga-scale green project reaching FID, increased deployment of Chinese electrolyzers, the persistent mismatch between project FIDs and o

about 1 year ago