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Market Outlooks

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Illustrated map of USA featuring potential carbon capture and storage infrastructure
Market Outlooks

Trust issues preventing US CCS industry from hitting full throttle in net-zero race, report warns

In the latest edition of a paper series examining the role of trust in the race to achieving net zero by using carbon capture and storage (CCS) in the United States, Australia’s engineering company Worley and researchers at Princeton University have found that distrust between stakeholders is one of

about 2 years ago
New report sheds light on hydrogen and wind-assisted propulsion
Market Outlooks
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New report sheds light on hydrogen and wind-assisted propulsion

The ABS-led consortium has delivered a 360-degree analysis of hydrogen as a marine fuel and wind-assisted propulsion as the latest in a series of reports studying alternative fuels and decarbonization technologies for the European Maritime Safety Agency (EMSA).

about 2 years ago
Potential turbine by Nova Innovation
Market Outlooks

Industry welcomes boost to tidal stream projects following latest UK renewables auction results

Key industry players have welcomed the recent UK renewables auction results, where six tidal stream projects secured contracts, viewing it as a strong endorsement of the tidal energy sector’s growth. Five developers secured contracts to develop a total of 28 MW of tidal stream energy across the UK.

about 2 years ago
LR: Widespread biofuel adoption in shipping hindered by feedstock availability and competition demand
Market Outlooks

LR: Widespread biofuel adoption in shipping hindered by feedstock availability and competition demand

The widespread adoption of biofuels as a drop-in replacement for fossil fuels and a cost-effective way of meeting tightening regulations in the shipping industry hinges on overcoming challenges such as feedstock availability and demand competition from other transport sectors, Lloyd’s Register (LR)

about 2 years ago
ONE
Market Outlooks

Ocean Network Express to roll out EU ETS surcharge amid regulatory changes

Starting October 1, 2024, Singapore-based shipping company Ocean Network Express (ONE) will implement an Emissions Trading System (ETS) surcharge as part of its response to the European Union’s inclusion of the maritime industry in its emissions trading scheme. According to a report by ONE, the impl

about 2 years ago
DNV: Energy-saving technologies crucial to reduce maritime emissions until carbon-neutral fuels become viable
Market Outlooks

DNV: Energy-saving technologies crucial to reduce maritime emissions until carbon-neutral fuels become viable

Faced with challenges such as short supplies of carbon-neutral fuels, the shipping industry needs to explore every option for reducing fuel consumption in order to reach the 2030 decarbonization goal of 20% emissions reductions set by the International Maritime Organization (IMO), Norwegian classifi

about 2 years ago
Illustration; Source: Velesto Energy
Market Outlooks

Velesto optimistic about jack-up market’s future, with ‘another excellent quarter’ in the bag

Malaysian rig owner Velesto Energy has reported solid financial results for the second quarter of 2024, which it attributes to higher utilization and average daily charter rates.

about 2 years ago
A vessel next to an offshore platform
Market Outlooks

Rystad: With global gas markets in ‘fragile equilibrium,’ more LNG key to 2030 energy targets

Based on the 2024 Global Gas Report, the world may face an energy deficit soon, with renewable energy targets at risk of falling through due to insufficient funding allocated to gas and clean energy projects.

about 2 years ago
NGOs file case against EU Commission over green labeling of LNG-fueled ships
Market Outlooks

NGOs file case against EU Commission over green labeling of LNG-fueled ships

A coalition of non-governmental organizations (NGOs) has decided to take the EU Commission to court over the decision to include polluting fossil fuel ships in the EU’s flagship sustainable finance legislation, the EU Taxonomy.

about 2 years ago
Hexagon Purus
Market Outlooks

Op-ed: Overcoming barriers to hydrogen adoption in maritime: A path to a cleaner future

The global shipping industry, responsible for approximately 3% of total greenhouse gas emissions, stands at a crucial turning point. To achieve the International Maritime Organization’s (IMO) net-zero greenhouse gas (GHG) emissions target by 2050, clean fuels must be adopted at scale.

about 2 years ago
WindEurope's Giles Dickson: Money, mindset and mobility main showstoppers for jobs in wind energy
Market Outlooks

WindEurope’s Giles Dickson: Three Ms main showstoppers for jobs in wind energy

The wind energy industry employs 370,000 people in Europe, however, if countries act on their goals, 600,000 jobs will be needed by 2030 and finding and skilling is one of the biggest challenges that the continent is facing, according to Giles Dickson, CEO of WindEurope. At a session held at the ONS

about 2 years ago
A large vessel at sea
Market Outlooks

‘Challenging’ period for LNG fleet ahead unless freight efficiency increases, Norwegian firm’s analysis shows

Awilco LNG, a Norwegian-based fully integrated pure-play liquefied natural gas (LNG) transportation provider, has highlighted in its analysis of the LNG market trends in the first half of 2024 and predictions for the upcoming period that the market activity is picking up the pace even though the cha

about 2 years ago
IWSA reveals threefold increase in wind propulsion installations
Market Outlooks

IWSA reveals threefold increase in wind propulsion installations

There were forty-five vessels with wind propulsion technology installed on board in addition to ten wind-ready vessels by the end of July this year, the International Windship Association (IWSA) revealed.

about 2 years ago
norled
Market Outlooks

MTF explores hydrogen bunkering gaps as IMO prepares guidelines for safe ship design

The Maritime Technologies Forum (MTF) has published a new report offering guidelines and key safety considerations for developing liquefied hydrogen bunkering systems and procedures.

about 2 years ago