ICS report predicts more than 400 hydrogen carriers will be needed by 2050
The International Chamber of Shipping (ICS) has launched a new report identifying global hydrogen demand to 2050, with South Korea, Japan and Europe being the first markets for hydrogen. The report highlights that to meet just 30m tonnes of annual global green hydrogen demand, the world would require up to 411 new hydrogen vessels – […]
Veer selects Fosen Shipyard to build revolutionary boxships
Bahamas-headquartered Veer has selected Germany’s Fosen Shipyard to build its first two wind-powered and hydrogen-assisted container vessels with an aim to launch clean container services from 2027. “We are delighted and excited that Veer has chosen Fosen to build the first zero-emissions container carrier in Germany,” said Carsten Stellamanns, CEO of Fosen Shipyard. “Together with […]
BP executive appointed OCIMF chair
The Oil Companies International Marine Forum (OCIMF) has appointed BP’s senior vice president for shipping Lambros Klaoudatos as its new chair. Klaoudatos takes over the position from Nick Potter, who has been involved with OCIMF at board level since 2014 and has been the organisation’s chair since 2022. Klaoudatos has almost 30 years of industry […]
Harland & Wolff secures vital loans to stave off administration
Crisis-hit Harland & Wolff, a British shipyard group, has been given a lifeline as it fights off going into administration. The company has reached a deal with its existing Wall Street lender Riverstone to expand its credit facility, on which it pays 14% interest, from £90m ($114.6m) to £110m. The shipyard group, famous for […]
Oceaneering clinches FPSO maintenance strategy contract in Brazil
Houston-based Oceaneering has secured a contract to design the maintenance strategy for a floating production, storage, and offloading (FPSO) vessel set to be installed offshore Brazil. The project, which will be managed by Oceaneering in Rio de Janeiro, aims to optimise the FPSO’s performance, enhance reliability, and ensure smooth operations, Oceaneering said without disclosing further […]
TDI-Brooks wins Woodside survey work off Trinidad
US-based offshore surveyor TDI-Brooks has been awarded geotechnical work for Woodside Energy’s Calypso development off Trinidad and Tobago. The contract will see the deployment of TDI-Brooks’ most recent addition to its survey fleet the 2000-built Nautilus – the former offshore support vessel Nautical Geo. TDI-Brooks operates six research vessels and this award will be the […]
TRIG cuts stake in German offshore wind farm
The Renewables Infrastructure Group (TRIG) is to offload part of its stake in the 330 MW Gode Wind 1 offshore wind farm in Germany. The London-listed green energy investment company said it had struck a €100m ($108m) deal with infrastructure investor Equitix to part ways with a 15.2% stake in the wind farm at a […]
Petrofac awarded more work on Dutch carbon capture and storage project
UK energy services company Petrofac has won a multi-million-dollar front-end engineering design (FEED) contract for the Aramis CO2 capture and storage project in the Netherlands. Petrofac’s work scope involves decommissioning topsides and installing a new repurposed injection platform connecting to the Aramis CO2 distribution network. The contract follows the award of a FEED to Petrofac […]
Global bunker indices still in downward trend
During the 31st week of the year, the Marine Bunker Exchange (MABUX) indices continued their downward trend. The 380 HSFO index dropped by US$9.30 to US$531.05/MT, approaching the US$500 mark. The VLSFO index fell by US$10.88 to US$630.92/MT. The MGO index decreased by US$13.61 to US$810.08/MT, nearing the US$800 mark. “At the time of writing, the […]
Hassan Allam Construction secures major contract from Saudi port
Hassan Allam Holding announced that its subsidiary Hassan Allam Construction Saudi has been awarded a significant contract in partnership with El Seif Engineering Contracting and China Harbour Engineering Arabia by the Port of NEOM, located in Oxagon, northwest Saudi Arabia. This Engineering, Procurement, and Construction (EPC) project involves the development of the Port of NEOM’s […]