The North Sea Transition Authority (NSTA) has offered 12 companies awards for 20 carbon storage licenses in the UK’s first-ever CO2 storage licensing round. The NSTA launched the UK’s first-ever carbon storage licensing round in June 2022, with applications closing in September. The 20 licenses in t
Marine fuel supplier Peninsula has confirmed the renewal of its syndicated European credit facility, reporting an increase from $350 million to $450 million. The supplier said that, together with the group’s Asian syndicated facility and other bilateral lines, the increase in the European credit fac
Southern hydrogen corridor or SoutH2 Corridor, a hydrogen-ready pipeline corridor connecting North Africa to central Europe, has received support from Italian, Austrian and German ministries of energy for its development in the European Union and for the respective infrastructure projects to obtain
bound4blue, a developer of wind-assisted propulsion technology, and Oceanking, a Greece-based provider of marine technology solutions, have formed a partnership to jointly expand access to the eSAIL technology in Greece and Cyprus. bound4blue’s eSAIL is a wind-assisted propulsion system known as a s
Svitzer, a towage provider and part of A.P. Moller-Maersk, has awarded a contract to Uzmar Shipyard to build two new TRAnsverse tugs for its Australian business. According to Svitzer, the TRAnsverse tugs, created in collaboration with Robert Allan Ltd., deliver an estimated 10-15% reduction in fuel
Bangladesh is expected to ratify the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships, commonly known as the Hong Kong Convention, in the next few weeks. The decision was confirmed by the Bangladesh Government during a visit to the country by Norwegian aut
Investment in decarbonization for a shipping company may appear counterintuitive to its profitability due to several factors. Firstly, the upfront costs of transitioning to low-carbon technologies, such as investing in eco-friendly vessels or retrofitting existing ones, can be substantial. These exp
DAI Infrastructure GmbH and Freepan Holdings Corp have entered a ten-year green ammonia purchase agreement. The companies signed a Memorandum of Understanding (MoU) according to which Freepan will offtake 800 000 TPA of green ammonia. According to DAI, the green ammonia will be produced in East Port
UK-based HVDC cable company XLCC has completed model testing on its new cable laying vessel (CLV) that was announced last year and which will be deployed in the renewable energy sector. The vessel will feature battery energy storage systems and shore power to reduce fuel consumption and has been des
Norwegian floating solar developer Ocean Sun has reported a wider net loss in the first quarter of 2023, when compared to the same period a year earlier, with a slight increase in income.
Ricardo, a strategic, environmental and engineering consulting company, is working with the Sustainable Hydrogen Powered Shipping (sHYpS) consortium to design and develop hydrogen fuel cell propulsion technologies to power the next generation of zero-emissions passenger ships. According to Ricardo,
State-owned PLN Indonesia Power (IP) has appointed British tidal energy specialist SBS as its technical advisor for tidal energy projects in Indonesia.
Australian oil and gas company Beach Energy has connected two new wells to its Otway Basin development, now delivering additional gas into the Australian East Coast gas market. At the start of 2022, Beach Energy confirmed that the first two wells of its offshore Otway Basin campaign – Geographe 4 an
A geophysical and UXO survey is set to begin at the end of this month for an interconnector that will link the UK and Germany for the first time. Geociencias y Exploraciones Marítimas (GEM) will perform a survey of the route for the installation of the NeuConnect Interconnector, nominally 705 kilome
