The recent pick-up in the development of carbon capture and storage (CCS) projects across the globe is expected to provide a new source of cargo demand for the maritime industry, helping offset demand for a declining trade of conventional hydrocarbon cargoes. CCS involves capturing carbon dioxide em
SuperNode, an Irish developer of energy transmission technology based on superconductivity, and the European Laboratory for Particle Physics CERN are collaborating to develop a novel type of insulation for superconducting cables in an effort to improve energy transmission and accelerate the transiti
Energy company Idemitsu Kosan has signed a memorandum of understanding (MoU) with Korea Electric Power Corporation (KEPCO) to collaborate on the establishment of a blue/carbon-free ammonia supply chain in Japan and Korea. The companies will jointly do a study on the procurement, marine transportatio
South Korean shipbuilding major Samsung Heavy Industries (SHI) has teamed up with a Denmark-based startup focused on nuclear reactor technology Seaborg Technologies and Korea Hydro & Nuclear Power (KHNP), an owner and operator of nuclear power plants, in a consortium that aims to develop floating nu
The European Union (EU) and Norway have formed a Green Alliance to strengthen their cooperation on clean energy and industrial transition as well as joint climate action and environmental protection efforts. The agreement was signed on 24 April in Brussels by the President of the European Commission
As the global maritime industry embarks on a decarbonization journey, a recent survey conducted among industry stakeholders has revealed that the path towards decarbonization will be complex, with a wide range of fuels in the mix through 2050. The survey respondents expect their fleets to run on mul
The University of Montenegro’s Institute of Marine Biology has assessed the impacts of Sigma Energy’s wave energy device on the ecosystem at the deployment site in the Adriatic Sea, finding it had no negative effects on the diversity of marine organisms.
Energy company Aramco has announced that a shipment of low-carbon ammonia has arrived in Japan for use as fuel in power generation. More specifically, this shipment, which is described as the first accredited low-carbon ammonia one to arrive in Japan, was transported to the Fuji Oil company’s Sodega
The Netherlands and the United Kingdom have unveiled their plan to build what they say would be a first-of-its-kind electricity link to connect offshore wind between the two countries via interconnectors. LionLink, a multi-purpose interconnector that was announced today at the North Sea summit, coul
Swedish marine energy company Minesto has started 2023 with an increase in net loss for the first quarter, when compared to the first three months of the year before.
Energy companies RWE and Kellas Midstream have signed a memorandum of understanding (MoU) to explore the potential for large-scale green hydrogen production in Teesside, UK. RWE said the hydrogen production site will be located close to emerging hydrogen infrastructure and will leverage each of the
US-based LNG player Excelerate Energy has completed the purchase of the floating storage regasification unit (FSRU) Sequoia. The FSRU was purchased for a price of $265 million from Anemoesa Marine Inc., a company incorporated under the laws of the Republic of the Marshall Islands. Last month, Excele
US-based marine energy developer Ocean Power Technologies (OPT) has secured a $500,000 extension of its contract with a US government agency for the supply of WAM-V autonomous surface vehicles.
The International Marine Contractors Association (IMCA) has given approval to Fugro for its remotely operated vehicle (ROV) introductory training course. According to Fugro, this world-first endorsement ensures that only appropriately trained and competent individuals enter the ROV industry, helping
