UK-based remotely operated vehicle (ROV) solutions provider ROVOP has secured a new $25 million senior credit facility with global infrastructure and real assets manager Cordiant Capital in order to pursue growth steps. The support comes as ROVOP continues to invest in its fleet infrastructure and e
South Korea’s flagship carrier HMM announced that it has cut its carbon emissions by half over the past decade. Namely, the shipping major’s data shows that the CO2 emissions generated when transporting 1 TEU of container for 1 km decreased from 68.7g in 2010 to 29.05g in 2021, representing a reduct
Japanese chemical company Asahi Kasei, a part of the Asahi Kasei Group, has established a ‘Care for Earth’ investment framework as a new initiative for carbon neutrality by investing $100 million worldwide in early-stage startups that aim to solve issues in environmental fields such as hydrogen, ene
Yantai CIMC Raffles Offshore (CIMC Raffles) has launched China’s first semi-submersible offshore floating solar power generation platform.
Teekay Tankers, one of the world’s leading providers of international seaborne transportation of oil, said it would implement engine power limitation (EPL) on its vessels to meet the Efficiency Existing Ship Index (EEXI) requirements. Namely, the EEXI will require a 20% improvement in vessel design
Following a competitive tender process, Malaysia’s state-owned energy giant Petronas has awarded Drilling Systems, part of 3t Energy Group, a contract for the provision of its learning technology. Under the contract award, Drilling Systems will provide its Drill the Well on Simulator (DWOS) solution
Japan’s Itochu Corporation has decided to make an equity investment in Purus Marine, a recently formed, environmentally focused maritime vessel and infrastructure company. UK-based Purus Marine owns and manages various environmentally advanced vessels. Its business purpose is to provide vessels that
Canada-based Amp Energy, a global energy transition development platform, has signed an agreement with Australian iron ore exploration and mining company Iron Road Ltd. to develop green hydrogen at scale on the Cape Hardy Port precinct. Cape Hardy is located on the east coast of Eyre Peninsula, Sout
After a long development process, the Marine Renewable Energy Collaborative (MRECo) will start the first full test of a tidal energy turbine at its Bourne Tidal Test Site in the Cape Cod Canal.
British wind propulsion company Anemoi Marine Technologies has won funding from the UK Research and Innovation’s Horizon Europe Guarantee fund as part of its involvement in the Optiwise EU project. The Optiwise project aims to maximise the results of vessels using wind propulsion technologies, such
Trinity Exploration & Production has confirmed that a fire broke out at one of its platforms working at an oil field offshore Trinidad.
The U.S. Energy Information Administration (EIA) has slightly revised its forecasts, reducing OPEC production for the rest of 2023.
Elegant Exit Company (EEC), a sustainable ship recycling startup, is on a mission to change the ship recycling industry by converting old ships into green steel. The Drachten-based company was launched in 2020 with plans to own a fleet of end-of-life ships that will be operated until their planned r
The Danish Ministry of Climate, Energy and Supply has approved Energinet’s application for the replacement of a submarine cable that passes across Øresund connecting Denmark and Sweden. With the approval in place, Energinet can now begin the project to replace System 2 on the 400 kV cable connection
