Vessel operating costs have risen at their fastest pace in over a decade this year, on higher insurance cover premiums and COVID-19 related expenses, UK-based shipping consultancy Drewry said. The costs are expected to moderate in subsequent years as pandemic related spend unwinds, according to Drew
Australian energy major Santos has announced its new ambitious emissions reduction targets which will culminate in reaching net-zero by 2040.
Ocean Energy Europe (OEE) and International Renewable Energy Agency (IRENA) have signed a memorandum of understanding (MoU) to expand existing cooperation and accelerate the commercialisation of ocean energy technologies.
There is little doubt that the past few years have witnessed the rise of energy-related collaborations to an extent never seen before. This is because cross-industry collaborations seem to be crucial for companies to ride the energy transition train which is indeed moving very fast.
The government of Australia’s state of Victoria is pouring the first AUD 108 million (around € 67 million) from its clean energy 2020/21 budget into the first steps toward bringing new renewable energy and hydrogen projects, such as the country’s first offshore wind farm, to realisation. The funds w
Borr Drilling is facing a very challenging financial situation amid a difficult market environment combined with payment delays from Pemex in Mexico.
Maritime risk management agency RightShip has appointed Steen Brodsgaard Lund as the company’s new Chief Executive Officer (CEO). Steen joins the organisation to succeed Martin Crawford-Brunt, who will be departing RightShip on December 18th, 2020. Throughout his three years in charge, Martin has ad
The OGTC and the Offshore Renewable Energy Catapult have warned that the UK offshore energy sector would miss the opportunity to be a global leader in clean energy if it does not invest in technology innovation to create a net-zero North Sea.
The new IMO measures addressing greenhouse gas emissions (GHG) have been met with a lot of criticism from the industry as they are likely to slow down the demolition of older, less-efficient ships until they enter into force. To remind, the 75th session of the IMO’s Marine Environment Protection Com
The US Federal Maritime Commission (FMC) has decided to increase monitoring report requirements for the three major container shipping alliances.
Following President Trump’s effective surrender of his three-week protest of the election results on Monday by submitting to the government’s official transition to the incoming Joe Biden administration, the time has come for the new administration to set new energy transition plans into motion – bu
Marine minerals could create 21,000 jobs and a $20 billion market for Norway in the next decades, Rystad Energy report says. That is the most optimistic estimate in a new Rystad Energy report on excavation of offshore minerals on the Norwegian Continental Shelf (NCS). “We are looking to provide mine
After exactly two months in operation, the shipbreaking cartel in Bangladesh has collapsed because it failed to secure enough tonnage, GMS, the world’s largest cash buyer of ships for recycling, said.
Investments from global E&P in 2021 are projected to reach around $380 billion, almost flat year-on-year, a Rystad Energy report shows.
