The maritime industry’s fervor for alternative fuels shows no signs of abating as we enter 2024. According to data from DNV-Maritime, since the beginning of the year, 23 methanol-fueled ships have been to the Alternative Fuels for Shipping Index (AFI) database. The ordering has been dominated by the
Energy services provider Expro has entered into a definitive agreement to acquire Scotland-based well integrity and production optimization company Coretrax, from an investment group led by Buckthorn Partners, for a total consideration of approximately $210 million. By acquiring Coretrax, Expro said
According to a Ricardo study, commissioned by Transport & Environment (T&E), a European clean transport campaign group, the European Union (EU) should be cautious about relying on uncertain imports to meet its hydrogen targets. The study, made to assess the EU’s needs for hydrogen imports and evalua
DOF Group has secured a contract and a contract extension in Asia Pacific, securing further backlog in the region. The latest contract secured for the region will use Skandi Hercules and see the vessel fully utilized off the Australian coast into the third quarter of this year. The contracted scope
Hamburg-based H2Global, a foundation dedicated to accelerating the emergence of markets for clean hydrogen and other low-emissions technologies, and the Japan Organization for Metals and Energy Security (JOGMEC) have signed a memorandum of understanding (MoU) to cooperate in the field of clean hydro
Ocean Power Technologies (OPT) has secured multiple orders for fully integrated WAM-V unmanned surface vehicles (USVs) totaling over $1.25 million. According to OPT, the recent commercial orders come from clients in Latin America, highlighting the wide-ranging capabilities and applications of the WA
Brazilian state-owned oil and gas giant Petrobras has appointed a North Carolina-headquartered company to deliver a seal-less canned motor boosting system for its field in the Campos Basin with the aim of enabling reliable subsea production. Curtiss-Wright Corporation has signed a technology coopera
Norway-headquartered Reach Subsea has secured charters for two vessels with the aim of meeting the increasing demand in the subsea services market. Reach Subsea has secured charters for the Northern Maria and Olympic Taurus. For Northern Maria, the charter arrangement includes a three-year firm peri
As part of the second phase of its massive LNG fleet expansion project, QatarEnergy has selected Qatar Gas Transport Company (Nakilat) to own and operate up to 25 conventional-size LNG carriers pursuant to time charter parties (TCP) to be entered into by affiliates of the two companies. QatarEnergy
Sixteen European partners have started an EU joint industry project (JIP) where floating solar technology is scaled up to standard formats of 150 MW enabling to build gigawatt scale farms. The BAMBOO project (Building scAlable Modular Bamboo-inspired Offshore sOlar systems) aims to resolve challenge
This is an overview of some of the moves made over the week, so come away with us on a journey of the fossil energy market’s latest developments.
InterConnect Malta, the company behind the second Malta to Italy interconnector, has issued a tender for the manufacture and installation of onshore cables for the project. The tender is looking for a company to manufacture and install the onshore 245 kV and 145 kV cables, fiber optic cable and acce
François Cornet d’Elzius, Ambassador of Belgium to Cairo, and Waleid Gamal El Dien, Chairman of the General Authority of the Suez Canal Economic Zone (SCZONE) have met to discuss new aspects of cooperation, including green fuel projects. On February 7, SCZONE said it received d’Elzius within the fra
A new behavior-focused sustainable shipping trial has shown that informed decisions can help ships’ crews make fuel-saving decisions 21% more often. Specifically, Ridgebury Tankers has carried out a six-month trial in cooperation with behavior change startup Signol during which officers on four tank
