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India establishes dedicated maritime finance corporation to boost innovation

India’s Ministry of Ports, Shipping & Waterways (MoPSW) has officially inaugurated the Sagarmala Finance Corporation Limited (SMFCL), the country’s first non-banking financial company (NBFC) in the maritime sector. Initially envisaged to be named Sagarmala Development Company Limited, SMFCL is antic

about 1 year ago

EU-UK set course for deeper cooperation on maritime safety, CCS, hydrogen

Transition

EU rolls out hydrogen mechanism to support market uptake

The European Commission has launched the Hydrogen Mechanism under the European Union (EU) Energy and Raw Materials Platform, aimed at supporting the market development of renewable and low-carbon hydrogen and its derivatives, including ammonia, methanol, and electro-based sustainable aviation fuel (

about 1 year ago

Transition

VARD launches hybrid cable lay & construction vessel for Japanese offshore wind (Video)

Norwegian ship designer and shipbuilder VARD has launched the hybrid power cable lay and construction vessel it is building for the Japanese company Toyo Construction at its shipyard in Romania. VARD held the keel laying ceremony in September 2024 for the vessel, while this March the aft part of NB

about 1 year ago

Transition

Nordic Baltic Hydrogen Corridor receives EU funding support

The project promoters of the Nordic Baltic Hydrogen Corridor (NBHC) have signed a grant agreement with the European Climate, Infrastructure, and Environment Executive Agency (CINEA) for the European Union (EU) financial support to the NBHC.

about 1 year ago

Transition

New consortium to explore floating nuclear power for Mediterranean energy needs

American Bureau of Shipping (ABS), CORE POWER, and Athlos Energy have established a consortium to assess the feasibility of deploying floating nuclear power plants (FNPPs) in the Mediterranean Sea.

about 1 year ago

Cable laying about to resume at 725-kilometer link connecting UK and Germay for the first time

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Cable laying about to resume at 725-kilometer link to connect UK and Germay for the first time

Italian cabling giant Prysmian Group will soon kick off the second phase of cabling works in UK waters for NeuConnect, a high-voltage submarine cable that will create the first direct energy transmission link between the UK and Germany. The 725-kilometer land and subsea cable system is said to creat

about 1 year ago

Transition

Carbon Clean opens one of ‘the world’s biggest’ CCUS research hubs in India

London-based carbon capture company Carbon Clean has inaugurated what is hailed as one of the ‘world’s largest’ dedicated carbon capture research facilities in Navi Mumbai, India. As disclosed, the new Global Innovation Centre (GIC) spans 77,121 square feet, housing two carbon capture plants togethe

about 1 year ago

Second Island Offshore hybrid ocean energy construction vessel under construction at VARD

Transition

VARD cuts steel for second Island Offshore hybrid ocean energy construction vessel

Norwegian shipbuilder VARD has cut the first steel for the second hybrid power ocean energy construction vessel (OECV) it is building for compatriot shipping group Island Offshore, some four months after the first steel was cut for the first vessel. Island Offshore placed an order with VARD for the

about 1 year ago

Transition

New 25-year agreement to help Port of Gothenburg become energy hub of the future

Sweden’s Port of Gothenburg has signed new agreements with Inter Terminals Sweden, a Scandinavian bulk liquid storage provider.

about 1 year ago

Transition

WATCH: Methanol-ready energy subsea construction vessel makes a splash in Vietnam

An energy subsea construction vessel (ESCV) being built in Vietnam for Norwegian shipping company Rem Offshore has hit the water one month ahead of schedule. Once delivered next year, the vessel will perform heavy construction work in offshore wind and subsea arenas with net-zero emissions. Followin

about 1 year ago

Transition

In response to higher demands for security, test bed for protecting critical infrastructure opens in Norway

In response to an increasing need for safeguarding critical maritime infrastructure due to ongoing geopolitical uncertainty and an increasingly dynamic risk picture, Norway’s KONGSBERG has opened a maritime test bed for protecting potentially vulnerable infrastructure such as subsea pipelines, power

about 1 year ago

South Korea’s first specialized HVDC installation vessel to be built in Türkiye

Transition

South Korea’s first specialized HVDC installation vessel to be built by Turkish shipyard

South Korean subsea cable installation company LS Marine Solution has signed a contract with Türkiye’s Tersan Shipyard for the construction of its new, ultra-large cable laying vessel (CLV). To expand orders for large-scale HVDC and offshore wind projects, both domestic and in Europe and North Ameri

about 1 year ago

Transition

Canada’s huge Shell-led export project achieves its first LNG cargo

With the first liquefied natural gas (LNG) cargo out of the way, LNG Canada, a joint venture company encompassing Shell, Petronas, PetroChina, KOGAS, and Mitsubishi, has tucked a new milestone under its belt at its giant LNG export terminal in Kitimat, Canada’s British Columbia.

about 1 year ago

Transition

ILO seeks to map gaps in Pakistan’s shipbreaking sector in the wake of HKC

The International Labor Organization (ILO) has opened submissions from qualified consultants to conduct a diagnostic study of the ship recycling value chain in Pakistan. According to officials from the ILO, the study is to inform national action planning by mapping ‘key’ stakeholders, pinpointing p

about 1 year ago