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Market Outlooks - Offshore Energy

Market Outlooks

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Market Outlooks

Out with financial bid criteria, in with unrestrained innovation in offshore wind

A healthy market framework is necessary for offshore wind projects to be sustainable and future-proof, and changes to the tendering framework can help ensure that, Ireen Geerbex, Director Market Development the Netherlands at Vattenfall, said during this year’s Offshore Energy Exhibition and Confere

about 2 years ago

Market Outlooks

MOL to issue world’s first blue bonds in shipping

Japanese shipping major Mitsui O.S.K. Lines (MOL) has decided to issue blue bonds through a public offering in Japan’s domestic market in January 2024.

about 2 years ago

Market Outlooks

Bernhard Schulte orders LNG dual-fuel CO2 carrier backed by Northern Lights’ long-term charter

Germany-based shipowning company Bernhard Schulte has placed an order for its first CO2 tanker. The LNG dual-fuel newbuilding will be constructed at Dalian Shipbuilding Offshore (DSOC) and feature innovative technologies aimed at significantly reducing its carbon footprint such as wind propulsion an

about 2 years ago

WaveBeat wave energy device at the Port of Tanger-Med in Morocco (Courtesy of ATAREC)

Market Outlooks

Interview: Moroccan start-up set to transform power supply of ports with wave energy

Born from the vision of two engineers, the Moroccan start-up Advanced Third Age Renewable Energies Company (ATAREC) has set its sights on exploiting the vast wave energy potential that exists around port breakwaters and other infrastructures exposed to sea, with its full-scale demonstrator already d

about 2 years ago

Market Outlooks

Artemis Technologies: Electric foiling boats ready to go global

UK-based maritime design and applied technologies company Artemis Technologies is taking Northern Ireland’s maritime capabilities into an exciting new era as it brings its ‘flying’ electric foiling boats to international markets with £2 million (about $2.5 million) backing from financial services co

about 2 years ago

Market Outlooks

Star Bulk and Eagle join forces to create dry bulk shipping powerhouse

Nasdaq-listed dry bulk shipping company Star Bulk Carriers and Eagle Bulk Shipping, one of the world’s largest owner-operators within the midsize dry bulk vessel segment, revealed their intent to merge through an all-stock agreement. The merger is expected to create a dry bulk shipping powerhouse wi

about 2 years ago

Market Outlooks

WSC: We need to get regulations right in next two years to ensure renewable fuels’ availability

In a bid to secure a competitive landscape for the availability of renewable fuels to power maritime vessels, energy providers need to have regulatory frameworks established within the next two years. The call comes with the recognition that substantial investments in new fuels are imminent, conting

about 2 years ago

Market Outlooks

WEF: MOL, Maersk showing readiness to procure green fuels but price gap remains main barrier to decarbonization

On the margins of COP28, shipping companies Mitsui O.S.K. Lines (MOL) and Maersk are actively sending a signal of readiness to procure green fuels and drive economies of scale.

about 2 years ago

Mocean Energy’s Blue X wave energy converter and Verlume’s Halo battery storage system for RSP project (Courtesy of Mocean Energy)

Market Outlooks

TotalEnergies invests in collaborative wave power subsea project

TotalEnergies has joined the Renewables for Subsea Power (RSP) collaborative project which is currently powering subsea equipment off the east coast of Orkney in Scotland, with wave power from Mocean Energy and intelligent subsea energy storage from Verlume.

about 2 years ago

Market Outlooks

‘West Green Shipping Corridor’ to link North America and Asia

Canada has signed a memorandum of understanding (MOU) to pursue the establishment of a green shipping corridor between Canada’s West Coast and ports in the United Arab Emirates, Korea and Japan.

about 2 years ago

Dr. Sultan Ahmed Al-Jaber, UAE Minister of Industry, CEO of ADNOC, and COP28 President; Source: COP28

Market Outlooks

COP28: Reconciling great expectations with reality in a highly polarized world

A deep dive into COP28 and the clash between those calling for a phase-out of fossil fuels and the ones lobbying to keep oil, gas, and coal firmly entrenched in the energy mix.

13 minutes read

Market Outlooks

Green corridor surge: initiatives soar to 44, doubling from last year’s count

The number of green corridor initiatives around the world went from 21 to 44 over the past year, according to the findings of the 2023 Annual Progress Report on Green Shipping Corridors released by the Global Maritime Forum. The report finds that there is a ‘substantial maturation’ among existing co

about 2 years ago

Market Outlooks

Maersk Tankers reveals mega order for up to 10 very large ammonia carriers

Tanker operator Maersk Tankers has confirmed that it has ordered up to ten very large ammonia carriers (VLACs) at Hyundai Samho Heavy Industries in Korea. The order has been placed by an affiliated company of Maersk Tankers, validating previous media reports. As disclosed, Japanese company Mitsui &

about 2 years ago

Market Outlooks

Shipping CEOs call for an end to fossil-only powered newbuilds

The Chief Executive Officers (CEOs) of leading global shipping lines have issued a joint declaration at COP 28 calling for an end date for fossil-only powered newbuilds and urging the International Maritime Organization (IMO) to create the regulatory conditions to accelerate the transition to green

about 2 years ago