Energy Businesses News

Japan's Mitsui O.S.K. Lines (MOL) will invest in a floating wind technology start-up, TouchWind.TouchWind is developing the tilting angled one-piece rotor wind turbine which is expected to reduce wind interference between wind turbines that tends to occur in large wind farms and improve overall wind farm power generation efficiency. In addition, MOL said, its unique design enables the wind turbines to operate in strong winds, reduces the weight of the wind turbine and floating parts…

General Electric recently filed a plan to build two new offshore wind manufacturing facilities in New York if it wins enough orders from companies in the state’s ongoing solicitation for up to 4.6 GW of offshore wind.GE proposed building the factories with Carver Companies at their Port of Coeymans site. The company said that, should it receive sufficient order volume, its LM Wind Power subsidiary would be ready to build a "state-of-the-art facility" for the construction of offshore wind turbine blades.

Crowley has appointed Bob Karl as senior vice president and general manager of the company’s new business unit, Crowley Wind Services. As Crowley elevates the scope of its offerings in wind energy, Karl will lead the company’s wind services team in the strategic development and expansion of services to support the emerging sector. The development of a wind service business unit will see the company continue to leverage its expertise and assets to provide landside and marine logistic solutions throughout the wind lifecycle.

California Dreamin': In CA, offshore wind has unlimited potentialWhen it comes to States promoting renewable, non-fossil electricity generation, California surely leads the list, from utility-scale regional grids to individual rooftop solar panels.In fact, a December 2018 update from the California Energy Commission (CEC) estimates the state may already have exceeded an initial renewable generation goal of 33% by 2020. CEC estimates that in 2018 that generation number was already 34%.

Danish conglomerate A.P. Moller – Maersk informed that Claus V. Hemmingsen steps down as Vice CEO of the group. The company's energy division, which was headed by him, will also be shut down."The Energy division will close down latest by the end of June 2019, and Claus Hemmingsen will subsequently leave A.P. Moller – Maersk,  after nearly 40 years in service," said a company statement.The Group has successfully concluded the separation of Maersk Tankers, Maersk Oil and Maersk Drilling as part of the transformation initiated in 2016 to focus A.P. Moller – Maersk on becoming the global integrator of container logistics.The Board of Directors acknowledges Claus Hemmingsen’s dedicated and significant contribution to A.P.

American utilities signed contracts for 4,304 megawatts (MW) of wind power in 2018 that, when combined with non-utility purchases, reached the highest level on record for overall Power Purchase Agreements (PPA) activity with 8,507 MW in 2018.In total, the industry commissioned 7,588 MW of wind power capacity in 2018. There are now 96,488 MW of cumulative installed wind capacity in the United States, with more than 56,800 wind turbines operating across 41 states.According to a new report released today by the American Wind Energy Association (AWEA), Fortune 500 brands and a range of other non-utility entities, including cities and universities…

Schottel, the manufacturer of propulsion and steering systems for ships and offshore applications, has made a strategic decision to merge its tidal energy businesses into Sustainable Marine Energy (SME), including UK subsidiary TidalStream Ltd and Canadian subsidiary Black Rock Tidal Power Inc (BRTP)."Following the successful collaboration between SME, Schottel Hydro and Black Rock Tidal Power to develop and demonstrate the PLAT-I floating tidal energy system, with deployments in Scotland and in Canada, Schottel has made a strategic decision to merge its tidal energy businesses into SME," said a press statement from Sustainable Marine Energy.The provider of tidal energy technology anchor solutions for marine current turbines said that  Schottel  has transferred all its tidal energy assets…

A.P. Moller-Maersk missed first-quarter profit expectations on Thursday and warned that political and trade tensions clouded the outlook, sending shares in the world's biggest container shipper sharply lower.Earnings before interest, tax, depreciation and amortization (EBITDA) for the three months to March 31 rose 5 percent to $669 million but came in well below the $852 million forecast by analysts in a Reuters poll.Chief Executive Soren Skou called the result "unsatisfactory"…

Shipping group A.P. Moller-Maersk is likely to shelve plans to list its struggling offshore drilling division because of weak market conditions, according to five finance sources familiar with the matter.The Danish company is now expected to focus on a trade sale of Maersk Drilling, and extend the timeline to divest the unit beyond its initial target of the end of 2018, said the sources who declined to be named as the discussions are private.Maersk group has not publicly put a price tag on the division…

Danish shipping group A.P. Moller-Maersk's is betting on winning new customers for its port division by becoming a one-stop shop that can transport goods from factory to retailers' shelves. The move comes as Maersk, the world's biggest container shipper, is entering uncharted territory following its sale last year of most of its energy businesses. This marked a major shift of focus for the group towards transport and logistics. Last month, Maersk said it aimed to expand its port and transport services…

In line with the strategic direction announced in September 2016 A.P. Møller - Mærsk A/S has made significant progress in focusing the future business on container shipping, ports and logistics. To further accelerate the development of customer oriented end-to-end transportation and logistics solutions the Board of A.P. Møller - Mærsk A/S today announces that it is strengthening the management of the company by appointing the Chief Operating Officer, Chief Commercial Officer as well as the CEO of APM Terminals to the Executive Board. Effective 1st December 2017, Vincent Clerc, Executive Vice President and Chief Commercial Officer, Morten Engelstoft…

In Q3, the revenue of A.P. Møller - Mærsk A/S’ continuing operations increased by 14% year on year driven by higher freight rates in Maersk Line. The underlying profit was USD 248m, with an improvement of USD 290m in Transport & Logistics and a decline of USD 15m in Energy. For A.P. Møller - Mærsk A/S, the third quarter of the year was a defining quarter of major change, where strong and viable solutions were found for Maersk Oil and Maersk Tankers. Furthermore, today A.P. Møller - Mærsk A/S has announced that the Salling Companies will acquire the remaining 19% shares in the Dansk Supermarked Group. A.P. Møller - Mærsk A/S’ now expects a positive underlying profit (loss of USD 546m).

Denmark-based shipping and oil company A.P. Møller-Mærsk A/S (Maersk)'s decision to split the group into two parts now get the credit rating agency for questioning to the light blue conglomerate's debt. It ends "probably" with a downgrade, because large parts of the oil revenue will no longer contribute to upholster transport division. "We have placed the ratings of Maersk on review for downgrade because we believe that its business diversification will reduce significantly with the separation of its energy businesses which represented 62% of EBITDA as of the first half of 2016," says Maria Maslovsky, a Moody's Vice President-Senior Analyst and lead analyst for Maersk.

It's oficial now. Danish conglomerate A.P. Moeller-Maersk A/S said Thursday it is splitting into two separate units - transport and energy businesses. Denmark’s biggest company moves ahead with an historic shake-up of the conglomerate to generate growth, as it battles with the worst shipping downturn in years and a historic oil-price rout. "As announced on 23 June 2016, the Board of Directors has tasked the management of A.P. Møller - Mærsk A/S to perform a review focusing on the strategic and structural options for the Maersk Group with the objective of generating growth, increasing agilities and synergies and unlocking and maximising shareholder value with the long-term view," says a press release from the company. The main growth focus of A.P.

The Philippines, eager to resume development of vital oil and gas reserves off its coast, will likely need to reach an accord with a Chinese government infuriated by last week's ruling that granted Manila a big victory in the South China Sea. The Philippines relies overwhelmingly on imports to fuel its fast-growing economy. That reliance will grow further in a few years when the main source of domestic natural gas runs out, so the clock is ticking for it to develop offshore fields that China shows no sign of loosening its grip on. Beijing has refused to recognise the ruling by the Permanent Court of Arbitration that granted the Philippines sovereign rights to access offshore oil and gas fields, including the Reed Bank, a shallow tablemount some 85 nautical miles off its coast.

Technology is central, not merely an add-on, to ship manager brand value. Ship managers who operate vessels on behalf of their owner clients, are the lynchpin of international shipping. As the industry has gone through rounds of relentless cost cutting, at times of increasing regulatory scrutiny, and commercial pressures for high standards, third party managers have filled the need for raising quality, while maintaining tight cost controls. The rise of third party managers in the 1980s and 1990s…

French transport firm Transdev expects to return to profit this year, but sees no quick solution for its troubled Mediterranean ferry unit SNCM, which is blocking a reshuffle in Transdev shareholdings between Veolia and state-owned bank CDC. Transdev's 2013 net loss narrowed to 130 million euros ($179 million) from a restated 391 million loss in 2012. The loss was mainly due to 107 million euros worth of writedowns related to SNCM, which runs ferries between Corsica and mainland France. At the presentation of the firm's 2013 earnings, Transdev CEO Jean-Marc Janaillac said a partial sale of Veolia's 50 percent stake in Transdev to its joint-venture partner CDC remained conditional on the sale of Transdev's 66 percent stake in SNCM, as CDC does not want to take it over.

Royal Dutch Shell and the China National Petroleum Corp (CNPC) have signed a deal to boost cooperation in sectors like deep sea exploration as well as liquefied natural gas (LNG) and unconventional gas sources like shale, CNPC said on Wednesday. The two companies had agreed to join forces in the development of both upstream and downstream energy businesses, CNPC said on its website. Ben van Beurden, in his first overseas visit since becoming Shell's chief executive, told CNPC Chairman Zhou Jiping that both sides have set up deep and wide-ranging ties and have huge room for further cooperation. The Anglo-Dutch firm is already one of the biggest overseas investors in China's energy sector…

Reggie Gray, the president of Houston Intercontinental Chamber of Commerce (HICC) has joined GAC Energy and Marine Services LLC as Vice President of Business Development. GAC Energy and Marine Services is the Houston-based oil and gas subsidiary of the GAC Group, one of the world’s largest service providers to the logistics, shipping and marine industry. In his new role Reggie is responsible for growing new business, strategically aligning the Group’s oil and gas arm with Houston’s…

Energy North, formerly North Scotland Industries Group (NSIG), is launching the first annual Energy North Awards to celebrate energy in Scotland. The 130-plus member organization’s awards will recognize contribution to developing the energy industry in the Highlands and Islands region made by suppliers, brokers, product manufacturers, experts and consultants working in the oil and gas, fossil based energy, renewables or the nuclear industry. The inaugural black tie ceremony will be held at Drumossie Hotel in Inverness on Thursday, September 29, 2011.

Rolls-Royce is continuing to invest in renewable energy sources by taking a 23.5 per cent equity stake in TGL, a privately-owned company developing free stream tidal power generation capability. Rolls-Royce is researching key technologies to provide solutions to the environmental challenges in aerospace, marine and energy markets in order to bring innovative products to market. It sees considerable synergies between the technologies and skills in its existing marine and energy businesses, and will apply these to TGL’s tidal power concept. TGL, in which Rolls-Royce has already invested £1.5 million and technical resource, is developing 500kW and 1MW demonstrators to assess viability ahead of the development of commercial multi-unit systems for tidal power arrays.