Energy Market News

15 Jan 2019

Offshore Wind Market Expected to Reach $50 bln by 2023

Image: Siemens

The global offshore wind energy market is poised to grow over USD 49.74 billion by 2023 at an estimated CAGR of around 11.12% during the period 2017 to 2023.The growth in this sector can be attributed to the increasing demand for clean and reliable energy in order to reduce the global carbon emissions and to maintain ecological balance by generating electricity through renewable resources, said a report by Market Research Future.However, high initiating capital cost of the projects with high maintenance cost and logistics issues, can hinder the offshore wind market.

11 Jan 2019

Blue Atlantic Fabricators Launches Lovejoy Wharf Ferry & Water Taxi Dock

Boston Harbor Cruises’ new subsidiary is building for Massachusetts in the Commonwealth.Blue Atlantic Fabricators of East Boston, MA announces the fabrication and launch of a 50 ton, 20ft x 80ft floating dock to be located at Lovejoy Wharf in Boston. This all-steel dock, will be the facility for privately-run ferry and water taxi service between Lovejoy Wharf and Boston’s Seaport District, offering both bow-loading and side loading capabilities.Blue Atlantic Fabricators built the floating dock for C. White Marine, Inc. who, as general marine contractor for developer Related Beal, will finish and install the docking system at the multiuse Lovejoy Wharf property.

02 Jan 2019

Novatek, Saibu Gas Ink MoU

Image: Novatek

Russia's largest independent natural gas producer Novatek said it had agreed with Japan's Saibu Gas to study the possibility for the Russian company to enter the Japanese energy market.Novatek said in a press release that PAO Novatek and Saibu Gas Co Ltd signed a  Memorandum of Understanding (MOU), whereby the parties agreed to consider potential cooperation to enter the end-customer market and optimize Novatek’s LNG portfolio supplies to the Asia-Pacific region by utilizing Hibiki…

21 Dec 2018

Ørsted Hires NHV for Borssele Offshore Wind Farm

Image: NHV

The Belgium-based NHV group, which is specialized in B-to-B helicopter services and has a strong geographic presence in Europe and Western Africa, said that it has signed new contract with Ørsted to provide helicopter services in support of the Borssele 1+2 Offshore Wind farm.The oil and gas industry focused helicopter services provider said that the operations are expected to start in May 2020. Flights will depart from NHV’s base in Zeeland to the Borssele Wind Farm, located 23 kilometres from Westkapelle in front of the Dutch coast.NHV will support this project utilizing the H145 aircraft…

22 Nov 2018

Heerema Fabrication Group Sells UK and Netherlands Yards

Image: Heerema Fabrication Group

Dutch offshore construction and engineering company Heerema Fabrication Group (HFG) intends to divest a significant part of its activities in the field of design and fabrication of complex steel constructions for the offshore market.HFG has been struggling for some time with insufficient project volume and marginal profitability. In addition, the risks associated with building topsides are high and clients are not prepared to pay for this risk.As a result of the divestment HFG…

02 Nov 2018

EU Approves State Aid for Lithuania’s Klaipėda LNG Terminal

Image: Klaipeda State Seaport Authority

The European Commission said that the EC has approved under EU State aid rules the compensation granted by Lithuania to LITGAS for supplying a mandatory quantity of liquefied natural gas (LNG) to the LNG terminal in Klaipėda.In November 2013, the Commission approved under EU State aid rules an aid scheme to support the construction and operation of a liquefied natural gas (LNG) terminal at the Klaipėda seaportin Lithuania The LNG terminal has, since its construction, played a vital role in the diversification of gas supplies and security of supply in Lithuania.In June 2018…

30 Oct 2018

Sembcorp Marine Bags Offshore Wind and Ferry Projects

Pic: Sembcorp

Sembcorp Marine is breaking new ground in renewable  energy engineering solutions with two separate projects worth over S$200 million (USD 145 mln).The Group has inked an agreement with Ørsted Wind Power subsidiary Optimus Wind Limited for engineering, procurement, construction, hook-up and commissioning works on two topsides, to be deployed at the Hornsea 2 Offshore Wind Farm in the UK North Sea.With a combined weight of approximately 8,700 tonnes, the two topsides will be fabricated…

21 Oct 2018

Arkas Bunkering, Sumitomo Corporation in LNG Bunkering Deal

Pic: Arkas Holding S.A.

Arkas Bunkering have signed a protocol with Japan-based Sumitomo Corporation for the use of liquefied natural gas (LNG) as bunker fuel in Turkish and nearby seas. As environmentally-friendly buildings, vessels and fuels have become more popular than ever, new applications acting as reminders for both states and civil initiatives of their environmental responsibilities continue to emerge. With International Maritime Organisation’s (IMO) global sulphur cap set to enter into force in 2020, the maximum amount of sulphur allowed to be contained in bunker fuel will be reduced worldwide.

18 Oct 2018

Total, India's Adani Join Hands in LNG Sector

Image: Total

French energy major Total and Adani Group have signed an agreement to jointly develop multi energy offers to the Indian energy market. This cooperation includes Liquefied Natural Gas (LNG) and Fuel Retail.The Adani Group is an Indian private conglomerate active in 50 countries and specialized in commodities trading, port infrastructures and logistics, as well as energy production and distribution.This strategic partnership between Total and Adani Group will allow to create a major footprint in LNG business and a new retail network of 1…

01 Oct 2018

New Marine Technology Group Forms in Norway

Photo: Global Ocean Technology Group

Building on maritime and offshore expertise gained through decades of experience serving the ocean industries from Norway, newly formed Global Ocean Technology Group is gathering key marine and energy technologies and services in a company with global ambitions.“We have our roots in the Norwegian boatbuilding, offshore energy, rig service and energy technology industries,” said CEO and partner Tor Henning Ramfjord. “We believe this unique combination, founded on a strong tradition of quality and entrepreneurship…

14 Sep 2018

DNV GL Pact with WeatherTech on Wind Turbines

Photo: DNV GL

DNV GL, the world’s largest resource of independent energy experts and certification body, today announced that it has joined forces with Swedish atmospheric science experts, WeatherTech.The combined expertise of both companies will enable the development of the most advanced icing model for wind turbines available on the market, allowing customers to better predict the performance of turbines in cold climates.In cold climates, the performance of wind turbines is significantly reduced by ice accretion, the gradual build-up of ice on the turbine blades.

10 Sep 2018

Dellner Brakes Acquires JHS Jungblut

Dellner Brakes JHS passive yaw sliding bearing for wind turbines (Image: Dellner Brakes)

Swedish-based marine and industrial brake supplier Dellner Brakes said it has acquired German brake specialist JHS Jungblut in a move that aims to strengthen the company’s offering in the wind energy market, and also enable further global expansion, particularly in the Far East.The enlarged company will operate under the Dellner Brakes JHS GmbH brand. Kai Kölker has been appointed Vice President for Dellner Brakes JHS GmbH and will be running the company’s wind business division in Dorsten…

23 Jul 2018

Plans for Another South Australia LNG Import Plant in the Works

A private firm is looking to import liquefied natural gas (LNG) to South Australia starting in 2020, around the same time as two other proposed import projects, looking to fill a supply gap as domestic gas gets sucked into LNG exports.Venice Energy, set up by former BHP Billiton executives, plans to submit a development application to the South Australian government within the next month to park a floating storage and regasification unit (FSRU) in Port Adelaide, Managing Director Kym Winter-Dewhirst said.If regulatory approvals come through by March, construction could begin by June 2019, he told Reuters in an interview. The project would be funded partly by Venice's owners…

11 Jul 2018

Njord Offshore Orders Crew Transfer Duo

(Image: BMT)

BMT said it has secured a contract to provide Njord Offshore with two 23m crew transfer vessels (CTV).The contract, which follows the recent launch of 27m CTVs Njord Zenith and Njord Zephyr designed by BMT and built by Cheoy Lee Shipyards in China, marks the first mid-range CTV BMT has designed.Jago Lawless, Technical Director at BMT, said, “We have refined the hull design based on real data we have taken from our existing 26m and 21m vessels that are currently operating throughout Europe.

08 Jul 2018

Equinor Acquires Energy Trader Danske Commodities

CEO Henrik Lind (left), Danske Commodities, and Tor Martin Anfinnsen, senior vice president, Marketing & Supply in Equinor. (Photo: Thomas Priskorn / PRISKORN)

Norwegian oil and gas major Equinor, formerly Statoil, is acquiring the Danish energy trading company, Danske Commodities for EUR 400 million (USD 470 mln). "Equinor has reached agreement to buy 100% of the shares in Danish energy trading company Danske Commodities (DC) for EUR 400 million, with smaller contingent payments depending on DC’s performance over the next couple of years," said a press release from the company. This acquisition – of one of Europe’s largest short-term electricity traders – supports Equinor’s development towards becoming a broad energy company.

18 Jun 2018

ExxonMobil Considers Importing LNG to Australia

© Wojciech Wrzesien / Adobe Stock

ExxonMobil Corp, southeastern Australia's biggest gas supplier, is considering importing liquefied natural gas (LNG) to help plug a looming gas shortage from 2021 and protect its market share.The move would compete with plans by both Australia's no.2 energy retailer AGL Energy to start importing LNG by 2021 and a consortium involving Japan's JERA to start imports from 2020.ExxonMobil is also stepping up exploration off the coast of Victoria and considering developing a gas field called West Barracouta close to an existing field…

07 May 2018

Under the Sea: A Roadmap for Renewable Energy

© Fokke / Adobe Stock

Thanks to increasing levels of debt financing for climate-aligned projects, wind-generated power has become one of the fastest-growing green industries. Jessica Williams, an Infrastructure Analyst at S&P Global Ratings, considers the submarine technologies that are making this progress possible.Renewable energy is making an increasing contribution to the electrical grid. By the end of 2016, “green energy” sources accounted for almost a quarter of the world’s electricity supply, according to REN21.

24 Apr 2018

Interview: Bourbon CEO Gael Bodénès

Bourbon Corporation CEO Gael Bodénès (Photo: Bourbon)

Bourbon Corporation CEO Gael Bodénès & his team plot a bold new course for this offshore industry stalwart.Your career with Bourbon has traversed many industry fluctuations. Looking back to when you joined the company, how is Bourbon today most the same, and most different?Bourbon has transformed from a small regional company to a world recognized leader in offshore marine services. It has seen its teams grow from a 3,000 to more than 8,000 employees of 88 nationalities, the fleet has grown to more than 500 units…

16 Apr 2018

HHLA’s Container Transporters Run on Green Energy

Hamburg’s Minister of Environment and Energy Jens Kerstan officially submits the funding certificate to Angela Titzrath, Chairwoman of HHLA’s Executive Board © HHM / Annette Krüger

Hamburger Hafen und Logistik AG (HHLA) increases efforts to improve the city’s air quality. Container transporters powered by lithium-ion batteries will move the containers at HHLA Container Terminal Alternwerder (CTA) between ships and the yard in future. The use of green energy prevents any CO2, nitric oxide or particulate matter from being emitted and the vehicles are also three times more efficient than their diesel-powered predecessors. Another benefit is that during their time at the charging station…

27 Mar 2018

Wavepiston Puts Renolit Films to the Test

 Installation of the prototype near Hanstholm © Wavepiston

With its “Film Instead of Paint” concept RENOLIT is exploring new horizons in the maritime sector, as the company now plans to enter the renewable energy market with its films. The first step has been made with the use of the flock-film RENOLIT SEAL for an innovative enterprise in Denmark, where the company Wavepiston has developed at similarly-named wave-powered energy generation project. A steel cable is stretched between two anchored buoys. Energy collectors developed by Wavepiston are attached to this cable at intervals of five to six meters.

22 Mar 2018

Cepsa Debuts South Europe's First Multi-product LNG Supply Vessel

Photo: Cepsa

Cepsa presented in the Port of Huelva the first multi-product marine fuel supply vessel in southern Europe. The vessel, based in the port of Huelva, will provide ship to ship Liquefied Natural Gas (LNG), in addition to traditional fuels: fuel oils and diesel. State-of-the-art technology has been used in its construction including a new fuel measurement system, based on Mass Flow Meters technology, which guarantees the accuracy in the supply of fuel to vessels. The new multipurpose vessel (OIZMENDI)…

19 Mar 2018

Marlink Moves Warehouse Facility in Houston

Photo: Marlink

Marlink has moved to larger premises in Houston, ensuring its ability to meet the growing needs of its Gulf of Mexico offshore industry and shipping customers. The new facility includes expanded office space to accommodate growth in sales and support functions at both Marlink and Telemar, in addition to a new warehouse facility to support even more responsive bridge and satcom equipment installation, and on board services. The new Houston location will continue to play an important role in the Marlink Group…

05 Mar 2018

Oceaneering Acquires Ecosse Subsea

Photo:  Oceaneering International, Inc.

Houston-headquartered Oceaneering International has, through one of its wholly-owned subsidiaries, acquired the Aberdeen-based Ecosse Subsea Limited for approximately GBP 50 million (US$69 Million). Headquartered in Aberdeen, Scotland, Ecosse builds and operates seabed preparation, route clearance and trenching tools for submarine cables and pipelines on an integrated basis that includes vessels, ROVs and survey services. Enabling technologies acquired in the transaction include Ecosse's modular SCAR Seabed System…

Maritime Reporter Magazine Cover Dec 2018 - Great Ships of 2018

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