Energy Arm News

French global player in the cable and optical fiber industry, Nexans said that it has received a contract from SSE Renewables, a renewable energy arm of Airtricity, for 1075 MW Seagreen offshore wind farm (OWF) project.Nexans will be  the preferred supplier to design, manufacture and install the onshore and offshore export cables for the Phase 1 development of the Seagreen offshore wind farm project.Currently under construction off the Angus coast, Phase 1 comprises the Seagreen Alpha and Bravo wind farms, which will form the largest windfarm project in Scotland when they come on line in 2024.Nexans will supply and install the three…

GE Renewable Energy, the renewable energy arm of US industrial technology giant General Electric, announced its plan to make 100 percent of its operations carbon neutral by the end of 2020.GE Renewable Energy will reach carbon neutrality by reducing emissions through operational efficiencies, securing renewable electricity supply to all GE Renewable Energy sites throughout its operations for wind, offshore wind, hydropower, energy storage and grid businesses – and balancing remaining emissions with the purchase of carbon offsets to achieve a net-zero footprint.Jérôme Pécresse, CEO, GE Renewable Energy said, “This is a decision that makes business sense. Energy efficiency, waste reduction, and renewable power sources will ultimately combine to lower the operating costs of our business.

Maersk management hints at hitting top of 2018 EBITDA range. A.P. Moller-Maersk's move to focus on transport and jettison oil was tested on Friday as the world's largest container shipping firm missed profit forecasts and gave what analysts saw as a conservative outlook. Shipping, which has been hit by years of overcapacity and slow economic growth, saw early signs of a turnaround in early 2017, but freight rates fell in the second half. "I'm still very optimistic on the fundamentals of the global container shipping industry," Chief Executive Soren Skou told Reuters after the quarterly results. Skou, who has staked his future on Maersk as a transport business…

Container shipping fundamentals at best since 2010 - CEO. Denmark's A.P. Moller Maersk gave an upbeat outlook for container shipping on Wednesday, lifting its shares by more than 4.5 percent as investors looked beyond one-off second-quarter charges. Maersk has been hit by low oil prices at its energy arm and sliding prices in its shipping business in recent years due to lacklustre global trade and a glut of available ships for hire. But its chief executive Soren Skou, who has staked his future on Maersk as a transport business, said the container shipping industry is showing signs of recovery this year as freight rates have picked up, while overcapacity is easing as orders for new vessels fall and existing ones are scrapped.

Maersk Line posts loss, but company sees improvement. A.P. Moller-Maersk beat first-quarter net profit forecasts on Thursday, boosted by the energy business it plans to spin off, but also reported signs of improvement at its long-suffering container shipping business. Shares in the Danish conglomerate climbed almost 5 percent after it said a gradual recovery in freight rates should boost earnings at Maersk Line, the world's biggest container shipping business, over the rest of the year. Maersk has been hit by the double blow of low oil prices at its energy arm and sliding prices in its shipping business due to lacklustre global trade and industry overcapacity.

Business Standard reported that real estate developer Hiranandani Group plans to set up a INR 2,400 crore floating LNG import terminal off Haldia, West Bengal and supply imported gas to users as far as Paradip in Odisha. H-Energy Pvt Ltd, the Energy arm of the Hiranandani Group, plans to set up a 4 million tons a year floating storage and Re-gasification unit (FSRU) some 115-km off the Haldia coast by first quarter of 2019. In the Natural Gas business, upstream integration is common. In order to achieve logistical integration with its regasification Projects in India, H-Energy is seriously examining the option of setting up a 13.5 MMTPA natural gas Liquefaction terminal in Canada.

Germany's Siemens and Japan's Mitsubishi Heavy Industries presented a joint offer to France's Alstom on Monday that included 7 billion euros ($9.5 billion) in cash, challenging a bid by General Electric. Under the deal, Siemens offered to buy Alstom's gas turbines business for 3.9 billion euros in cash, and MHI to buy stakes in Alstom power assets including hydroelectric power equipment and grid, to be held in separate joint ventures. MHI would inject 3.1 billion euros in cash into Alstom and offer to take a stake of up to 10 percent in the French firm from shareholder Bouygues. "Alstom would remain an independent energy and transport player with a strong brand," Siemens Chief Executive Joe Kaeser said. Alstom said it would review the proposal in the coming days.

Cargill Inc said on Tuesday its quarterly earnings fell 28 percent, making it one of the largest companies yet to demonstrate how big commodity market disruptions this year have hurt its bottom line. Minneapolis-based Cargill, a top global commodities trader, was hit by a triple-whammy of unexpected events, including a surge in energy prices in January, rail backlogs, and the rejection of U.S. corn shipments by China. The problems are likely to have also hit Cargill peers such as Archer Daniels Midland Co and Bunge Ltd, which are due to report financial results in the coming weeks. The coldest winter in 30 years catapulted regional U.S. natural gas prices to record highs, while power markets gyrated as producers struggled to keep supplies flowing to consumers.

As demand for wind energy increases, offshore deployments are continuing to move into deeper waters. DNV KEMA has released its new standard for floating offshore wind turbine structures that will help ensure safety and reliability in floating wind turbines, and give the nascent floating-turbine sector the confidence to continue its development to commercial maturity. “A prerequisite for the industry to continue to grow and develop effectively is development of design standards…they are essential to ensure a consistent and appropriate level of safety in design…

Wärtsilä, in consortium with IMS Ingenieurgesellschaft mbH, has been engaged by RWE Innogy, the renewable energy arm of the German utility company RWE, as its designer to provide the basic design and consultancy services for a jack up crane vessel. Two such vessels with GL class-approval have been ordered by RWE Innogy to be used for constructing offshore wind farms. The shipbuilding contracts have been awarded to Daewoo Shipbuilding & Marine Engineering Co. Ltd. (DSME) and delivery of the vessels is scheduled for late 2011.