Russia's Control of Sakhalin Project Could Pose Upside Risk to LNG Prices
Russia announced on Friday a decree that seizes full control of the Sakhalin-2 gas and oil project in the country's far east, a move that could force out Shell and Japanese investors and adds another bullish factor to prices in a tight global LNG market.The order, signed on Thursday, creates a new firm to take over all rights and obligations of Sakhalin Energy Investment Co, in which Shell SHEL.L and two Japanese trading companies Mitsui and Mitsubishi hold just under 50%.
Cadeler Secures $192,3M Loan to Fund New Offshore Wind Vessels
Offshore wind installation contractor Cadeler has entered into a Senior Secured Green Revolving Credit Facility (“RCF”) of a 3-year term loan of EUR 185 million (around $192,3 million). Together with the company’s cash and cash equivalents, the RCF facility will be used to finance Cadeler's newbuild offshore wind turbine and foundation installation vessels, and acquisitions as well as for general corporate…
Back to The Future? Cargo Giant Cargill Turns to Sails to Cut Carbon
In a new take on ancient technology, Cargill, one of the world's biggest charterers of ships, is to add state-of-the art sails to a vessel early next year to test whether wind power can cut its carbon emissions, a top company executive said.With about 90% of world trade transported by sea, shipping accounts for nearly 3% of the world's CO2 emissions, yet environmental campaigners say efforts by the…
Bulgarian Military Destroy Naval Mine Off Black Sea Coast
Bulgaria's military late on Thursday carried out a controlled explosion of a Soviet-era naval mine that had drifted close to the country's Black Sea coast, the defence ministry said on Friday.Black Sea countries began to report the appearance of such mines floating in the sea after Russia invaded Ukraine in February. Russia and Ukraine accuse each other of planting them.The defence ministry said the…
Van Oord Orders Two Water Injection Dredgers
Dutch shipbuilder Kooiman Marine Group said it has secured a contract from Dutch dredging and marine services firm Van Oord to build two Water Injection Dredgers (WID) for delivery scheduled in the first half of 2024.The order follows the previous deliveries of the WIDs Maas and the Mersey delivered in mid-2021."The new vessels will have the same specifications, supplemented by innovative optimizations.
Manor Renewable Energy Orders Two Crew Transfer Vessels from Strategic Marine
Manor Renewable Energy (MRE) ordered two aluminium catamaran-type crew transfer vessels Strategic Marine. The vessels will support MRE’s offshore operations in the UK, Europe, and Asia.The two vessels, due to be named Manor Victor and Manor Vulcan, are both BMT designed 27m aluminium catamarans built by Strategic Marine in Singapore. They are powered by two Caterpillar C32 1450hp marine engines; each have a fuel capacity of 35…
U.S. to Add 6 GW of Offshore Wind Capacity Through 2029 -EIA
Power plant developers and operators plan to install more than 6 gigawatts of offshore wind capacity at sites mostly along the U.S. eastern seaboard over the next seven years, the U.S.
