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 government of Maine has selected a section of state-owned area on Sears Island as its preferred site for a port facility development that will support the floating offshore wind industry.The selection of the site, announced by the Governor of Maine Janet Mills, follows an extensive public stakeholder process led by the Maine Department of Transportation and Maine Port Authority to consider the state’s primary port development options, including multiple potential sites in the Port of Searsport…

President Joe Biden paused pending approvals of exports from new liquefied natural gas (LNG) projects on Friday, a move cheered by climate activists that could delay decisions on new plants until after the November 5 election.The Department of Energy (DOE) will conduct a review during the pause that will look at the economic and environmental impacts of projects seeking approval to export LNG to Europe and Asia where the fuel is in hot demand.The review will take months and then will be open to public comment which will take further time…

Damen Shipyards Group has officially launched a fully electric service operations vessel (SOV), 70 meters x 17 meters, with its offshore charging capabilities.To achieve offshore charging, Damen has partnered with UK-based MJR Power & Automation – a company that has previously developed an offshore charging system for a crew transfer vessel.The charging system uses the motion-compensated gangway to create a connection between the vessel and a turbine or substation offshore, in much the same way a personnel transfer is undertaken.

Currently on target to reach a record-breaking 230GW of wind and solar installations this year, China leads the global renewables market. This is more than double the number of US and Europe installations combined, according to latest report ‘How China became the global renewables leader’ by Wood Mackenzie.Wind and solar project investment for China is expected to reach US$140 billion for 2023, according to the report’s findings.Alex Whitworth, Vice President, Head of Asia Pacific Power and Renewables research at Wood Mackenzie…

Energy ecosystems are evolving as the value of offshore power-to-X production is being realized.Flexible and delivered in long lengths on reels in a fast-track operation, thermoplastic composite pipeline can transfer up to nine times the amount of energy as a cable and can be used to store hydrogen, increasing the uptime of offshore wind farm generated power.That’s according to Netherlands based supplier Strohm, member of the Hydrogen Offshore Production for Europe (HOPE) project and the Dutch floating green hydrogen and ammonia OFFSET project.

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.

HamiltonJet has unveiled a new range of high-efficiency waterjets, starting with the LTX36 model. Optimized for medium- and low-speed operation, New Zealand-based manufacturer said it has produced the first waterjet to rival the energy efficiency and bollard pull of the best propeller-based systems between zero and 30 knots.Waterjets are among the most efficient propulsion options for going fast due to the absence of hull-appendages and their highly optimized pump geometry, but HamiltonJet CEO Ben Reed noted not everyone wants to go fast.“Our customers’ needs are changing…

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.

CMA CGM said it expects a pullback in shipping markets to accelerate in the fourth quarter due to high energy prices and flagging consumer spending, and this will reduce its profitability following an earnings surge in the past year.French-based CMA CGM, one of the world's largest container lines, reported on Friday a net profit of $7.0 billion for the third quarter, up from $5.6 billion in the year-earlier period.However, the net profit was down from $7.6 billion in the previous quarter…

Italian gas grid operator Snam confirmed on Thursday its guidance for full-year net profit after reporting a rise of 10% in nine-month revenue to 2.4 billion euros ($2.41 billion). The state-controlled group said it planned to boost Italy's gas storage and transport facilities after getting the go-ahead to set up two new LNG terminals. The new floating LNG terminals and investments in gas infrastructure are part of a broader effort by the Italian government to replace dwindling Russian gas supplies and keep a lid on energy costs. The gas grid operator reported a decline of 9% in gas consumption by the industrial sector between January and September, in a sign that companies in Italy have cut activity in the face of high commodity prices and supply difficulties.

When compared to other major river navigation routes around the world, the St. Lawrence River is a favored waterway.It flows from the mouth of Lake Ontario, at an altitude of 250 meters. From its source to the Gulf, the river travels 1,197 kilometers, and is fed by several tributaries including the Ottawa, Richelieu, Saint-François and Saguenay rivers.But the effects of climate change are being felt. The marine industry is adapting. It is currently embarking on a shift towards…

The U.S. Department of the Interior announced next steps to bring offshore wind energy to the Gulf of Maine. The Bureau of Ocean Energy Management (BOEM) has made available a Request for Interest (RFI) and Request for Competitive Interest (RFCI) in the Federal Register for public comment.“President Biden has set ambitious goals to address the climate crisis, and in response the Interior Department is taking historic steps to develop a robust and sustainable clean energy future,” said Secretary Deb Haaland.

The volume of total cargo throughput in the port of Rotterdam was 0.8% higher in the first half of the year (233.5 million tonnes) than in the same period in 2021 (231.6 million tonnes). In many segments, the war in Ukraine led to significant changes. For example, imports of both LNG and coal rose very sharply as an alternative to reduced European imports of Russian gas by pipeline. The throughput of crude oil increased, with oil products falling off. Throughput of iron ore, agricultural…

In November 2021, GTMaritime published a white paper: “Maritime Communications - A look over the horizon.” The report, available here, is built around three broad Sections – 1. “Basics of marine Communications;” 2. “The connected ship;” and 3. “Special services.”Then, each Section presents a closer look at various topics. The “Basics” section, for example, covers regulatory issues established by IMO treaties and national agencies. It presents the terms and concepts that define satellite systems and networks…

The war in the Ukraine is stifling trade and logistics of the country and the Black Sea region, increasing global vessel demand and the cost of shipping around the world, the UN Conference on Trade and Development (UNCTAD) said. Container shipping and global value chains have been disrupted and many countries have had to look further afield for suppliers of oil, gas and grain.In a report entitled “Maritime trade disrupted: The war in Ukraine and its effects on maritime trade logistics” published on 28 June 28…

The U.S. Navy released on Tuesday a climate strategy that aims to make the force more resilient to changes like sea level rise and coastal erosion while moving faster to low-carbon fuels and hybrid engines for ships and planes.The Climate Action 2030 plan, is part of the Biden administration's wider goal of decarbonizing the economy by 2050."By building a climate ready force, our sailors and Marines will be able to fight and win anywhere in the world in any condition," Meredith Berger…

Companies planning a new ferry build should focus on the Total Cost of Ownership (TCO) instead of kW-power, in order to optimize costs, Steeprop, a designer and manufacturer of azimuth propulsion systems, said.Choosing the propulsion unit based mainly on Capex, for example, will most likely increase costs in the long run, adding that a ferry owner can save more than two million euros over a 15-year period by concentrating on the TCO."The traditional way of handling the procurement of propulsion systems…

Industry stakeholders at PortPIC stressed the importance of more innovation, collaboration and aligned initiatives to shape sustainable solutions for in-water cleaning.This was the main message from the inaugural In-Port Inspection & Cleaning Conference (PortPIC) held last week, organized by Jotun and DNV GL.In his opening address, Geir Axel Oftedahl, business development director, Jotun Marine Coatings raised the issue of biofouling and emphasized, “There’s an increasing focus…

The United States has an opportunity to accelerate offshore wind energy growth, and benefit from 28 new gigawatts of wind power and $1.7 billion in U.S. Treasury revenue by 2022, according to a study released by the energy intelligence group Wood Mackenzie. Apart from the benefits to the Treasury, the offshore wind industry in the U.S. could create 80,000 jobs annually from 2025 to 2035.Commissioned by four energy industry groups, American Wind Energy Association (AWEA), National Ocean Industries Association (NOIA)…

How technology can bring data to life, from design through to operations, helping improve efficiency and reduce emissionsOver the last year, climate change – or more appropriately climate action – has emerged as the critical issue impacting the future of global industries. Companies are under pressure to outline plans to transition to a more sustainable way of doing business – and the shipping and maritime communities are no exception.Transportation emissions – which typically include road, rail, air and marine – are responsible for an estimated 24% of the world’s carbon emissions.

Is it true that Sailing Cargo is building the world’s first mobile aquaculture ship?That is correct. We at Sailing Cargo Inc. want to change the future of global fishing while proving the value of clean shipping. Our team of experienced professionals is building the world’s largest zero emission sailing vessel in order to respond to the increasing global demand for healthy salmon and protein in the most efficient and environmentally sustainable manner. The conventional fish farming…