Lower Energy Costs News

2024 marks another year for development of a biennial WRDA bill—Water Resources Development Act, critical legislation for the Nation’s waterways, ports and harbors. WRDA encompasses a range of issues, from environmental regs to energy use to agriculture and, of course, a focus on projects critical for economic growth.Because these are dynamic and timely issues, Congress and the maritime sector like to keep WRDA on a two-year reauthorization timeline. Indeed, the House Transportation & Infrastructure Committee, December and January, held three WRDA information hearings.

The U.S. Department of the Interior's Bureau of Ocean Energy Management (BOEM) on Tuesday approved the construction of a 704-megawatt (MW) wind farm off the coast of Rhode Island, the fourth major offshore wind project the agency has greenlit as the Biden administration tries to meet a goal of bringing 30 gigawatts (GW) of offshore wind power online by 2030.The Revolution Wind project about 15 nautical miles southeast of Point Judith, R.I. is being developed by Eversource and Ørsted as Rhode Island and Connecticut's first utility-scale offshore wind farm…

The United States announced the first offshore wind power development rights sale in the Gulf of Mexico on Thursday, which President Joe Biden will discuss during a trip to highlight the administration's efforts to boost renewable energy.In February, the United States proposed to expand offshore wind power developments into the Gulf of Mexico, introducing the nascent clean energy industry into a major hub for oil and gas production.The Interior Department said the sale will take place on Aug.

A Mackinac Island passenger ferry will be converted to zero-emissions electric power with the help of a $3.06 million award from the Michigan Department of Environment, Great Lakes, and Energy (EGLE) Fuel Transformation Program (FTP) Part 2.Star Line, now known as the Mackinac Island Ferry Company (MIFC), will replace two 1988 diesel engines with two brand new electric propulsion motors on a ferry, the Chippewa, reducing greenhouse gas emissions by 14,152 metric tons of carbon dioxide equivalents and 887 metric tons of nitrogen oxides over the boat’s lifetime.

The blade for GE’s Haliade-X 12MW offshore wind turbine has arrived at MassCEC’s Wind Technology Testing Center (WTTC) in Boston, U.S.The 107-meter blade will undergo a series of fatigue tests that involve moving it millions of times over the period of a few months to validate that it can withstand more than 25 years of operation at sea. The testing is part of the process of commercializing GE’s Haliade-X 12 MW turbine -- the most powerful in the industry -- by 2021, strengthening the company’s ability to compete in a market steadily gaining momentum in the U.S. and globally.“This has really been a collaborative effort on the part of the company to be part of solving the challenges associated with the energy transition," said GE Chairman and CEO H. Lawrence Culp, Jr.

Alfa Laval PureSOx gives customers the option of scrubbing in closed loop, either by choosing a fully equipped hybrid system or by installing a hybrid-ready system that can be upgraded for closed-loop operation later. With the launch of a modular new PureSOx water cleaning system (WCS), these possibilities become even more attractive. Though few in number and limited in scope, local bans on open-loop scrubbing have intensified the interest in hybrid scrubber solutions with closed-loop functionality.

The Norwegian aquaculture and fishing industry has joined the green shipping wave with a number of pioneering electric fleet initiatives. In 2015, the Norwegian maritime industry launched the DNV GL-led public private initiative, the Green Coastal Shipping Program. The idea was to encourage research and development of green technology concepts in the country’s shipping sector. Together with 25 partners from the Norwegian maritime industry and authorities, they presented five pilot projects, mostly within oil and gas and cargo transport. However, one of the pilots targets the aquaculture segment with an environmentally friendly fish farm support vessel.

The U.S. Bureau of Ocean Energy Management (BOEM) has executed a wind energy research lease with the Commonwealth of Virginia’s Department of Mines, Minerals and Energy (DMME), BOEM announced today. This is BOEM’s first executed wind energy research lease, coming as part of the Obama Administration’s Climate Action Plan to create American jobs, develop domestic clean energy resources and cut carbon pollution. Under this lease, DMME proposes to design, develop and demonstrate a grid-connected, 12-megawatt (MW) offshore wind test facility on the Outer Continental Shelf (OCS) off the coast of Virginia – adjacent to the Virginia Wind Energy Area (WEA).

NOIA President Randall Luthi issued a statement in response to President Obama’s 2015 State of the Union Address, stating that the President missed a few key points regarding domestic onshore and offshore energy production and supply, and its impact on the U.S. economy. "While the President highlighted America's energy renaissance in his address to Congress tonight, he failed to note that the increase in the supply of American-made energy is occurring on state and private lands, not the federal lands under his control,” Luthi said.

Yara International ASA delivered strong third-quarter results, with record fertilizer deliveries and continued margin benefit from lower European gas price. "Yara reports a strong third-quarter result with record deliveries, reflecting both organic growth and the Bunge acquisition in Brazil," said Torgeir Kvidal, Acting Chief Executive Officer of Yara. "Our European production plants performed well, with both higher production and improved margins as natural gas cost has declined," said Torgeir Kvidal. Yara reports third-quarter net income after non-controlling interests of NOK 1,707 million (NOK 6.18 per share), compared with NOK 1,571 million (NOK 5.66 per share) a year earlier.

As we start 2014, signs of a recovery are starting to emerge. On the back of lower energy costs, the US economy is set to grow and unemployment levels have been falling, reads the '2014-2018 Tanker Market Outlook' by McQuilling Services. The imbalance of tanker supply in relation to ton-mile demand will have an impact on spot rates. While 2012 saw deliveries and deletions under/over our projections by 20%, history was unable to repeat itself. Although tanker deliveries from yards were less than expected in 2013, the same was true in regard to vessels being taken out of the trading fleet.

The Georgia Ports Authority won recognition by the Environmental Protection Agency as a leader in reducing carbon emissions. The Southeast Diesel Collaborative (SEDC), a public-private partnership formed by the U.S. EPA Region 4 office, named the GPA as a Community Leadership Award winner. “The GPA has voluntarily undertaken many projects to decrease diesel fuel consumption, resulting in improved air quality,” said GPA Executive Director Curtis Foltz. In December 2012, the Georgia Ports Authority unveiled its first four electrified rubber-tired gantry cranes.