Energy Sources News

20 Jan 2020

Oil, Gas Players Optimistic on Profits

Liv A. Hovem, CEO, DNV GL - Oil & Gas

Companies  in the oil and gas sector are optimistic about their ability to achieve their financial targets for 2020, according to a survey from standards agency DNV GL.While the sector’s growth hangs in the balance for 2020, oil and gas leaders are optimistic that they will weather the storm, drawing on hard-earned cost efficiencies from the past five years to make margin.Some 64% predict their organizations will hit profit targets this year (largely consistent with 62% in 2019)…

14 Jan 2020

Russian Tanker Back in Region After Shipping U.S. LNG to Europe

© O.B. / MarineTraffic.com

A Russian gas tanker that is used to secure energy supplies in the west Russian enclave of Kaliningrad has arrived back in the region after being leased out to transport U.S.-produced LNG to Europe, Refinitiv Eikon data showed on Tuesday.Two energy sources told Reuters in November that energy trader Gunvor had leased the Marshal Vasilevskiy tanker from Russian state-controlled gas company Gazprom for loading an LNG cargo in the United States.That surprised the LNG shipping market because U.S.

06 Jan 2020

Kuwait Signs 15-yr LNG Gas Deal with Qatar

Image: Qatar Petroleum

State-owned Kuwait Petroleum Corp signed a 15-year agreement with Qatar Petroleum to import three million tonnes of liquefied natural gas (LNG) each year starting from 2022.The agreement was signed by Dr. Khaled A. Al-Fadhel, the Minister of Oil and the Minister of Electricity & Water, the Chairman of the Board of Kuwait Petroleum Corporation and His Excellency Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum, during a special ceremony held in Kuwait City.Under the 15-year agreement…

05 Jan 2020

Energean, DEPA Pact for EastMed Pipeline

Image: Energean

UK-based international oil and gas exploration and production company Energean Oil & Gas and the Public Gas Corporation of Greece (DEPA) have agreed to cooperate to further support the EastMed Pipeline Project.The have signed a Letter of Intent (LoI) for the potential sale and purchase of 2 BCM natural gas per annum from Energean’s gas fields offshore Israel, where Energean is investing $1.7 billion for the development of the Karish & Tanin fields through the FPSO “Energean Power”.DEPA…

03 Jan 2020

Vestas Wins Intertidal Project in Vietnam

Image: Vestas Wind Systems

Danish wind turbines manufacturer  Vestas Wind Systems secured a 50 MW order with Cong ty Co Phan Dau Tu Dien Gio Hoa Binh 1 (Hoa Binh 1 Company), a company owned by Phuong Anh Group. The order marks Vestas' third intertidal project in the country with three different customers announced this month, which makes the company leads the market for wind energy in Vietnam with almost 200 MW of projects.The project will be located in Hòa Bình, a district of Bạc Liêu Province where the…

02 Jan 2020

SK Group Intros Bio Heavy Oil

Image: SK chemicals

South Korea's SK Chemicals Co has introduced a project to use bio heavy oil as vessel fuel amid rising demand for cleaner energy sources.The chemical and pharmaceutical unit under South Korean conglomerate SK Group has started safety and feasibility tests on bio heavy oil for powering large vessels like container ships, said a report in Pulse News.Bio heavy oil is environmentally-friendly fuel for power generation, made from animal fat, leftover cooking oil, and by-products of bio-diesel processing.According to the media outlet…

19 Dec 2019

Volkswagen Attracts Bids for MAN Energy Solutions Unit

Volkswagen has attracted bids from Europe's Innio, Japan's Mitsubishi Heavy and U.S.-based Cummins for its MAN Energy Solutions, which makes diesel engines for ships and power generators, people close to the matter said.Innio, formerly known as Jenbacher and owned by buyout group Advent, as well as the two other bidders last week made bids for the VW unit, which could have a valuation of 1.5-2 billion euros ($1.7-$2.2 billion) in a potential sale, they said.Other bidders such as Hyundai Heavy are no longer in the running, they added.The divestment is part of Volkswagen's efforts to slim down and simplify the group which has 12 brands…

17 Dec 2019

Ship Industry Proposes $5B R&D Fund to Cut Emission

Image: International Chamber of Shipping

Shipping associations have proposed creating a research fund with $5 billion raised by the industry to develop technology to help the sector meet U.N. targets on cutting emissions."The global maritime transport industry has submitted a proposal to form the world’s first collaborative shipping R&D program to help eliminate CO2 emissions from international shipping," said a press note from International Chamber of Shipping (ICS).The proposal include a new non-governmental Research & Development organisation to pave the way for decarbonization of shipping.

17 Dec 2019

Carnival Joins the Getting to Zero Coalition

Tom Strang, senior vice president of maritime affairs for Carnival Corporation

Carnival Corporation has announced it has joined the Getting to Zero Coalition.Carnival Corporation is the first cruise company to join the global alliance.The coalition’s goal aligns with the International Maritime Organization’s (IMO) strategy to reduce greenhouse gas emissions from shipping by at least 50% by 2050 as compared to 2008 emissions. To meet the target, the Getting to Zero Coalition aspires to having technically feasible, commercially viable zero emission deep sea vessels (ZEVs) entering the global shipping fleet as early as 2030.

06 Dec 2019

Partnership Envisions Ammonia-Fueled Feeder Ship

Left to right:  Thomas Hansen, Director, Head of Promotion & Customer Support, for MAN, Dr. Xioazhi (Christina) Wang, ABS Vice President, Global Marine, and Mr. Zhiyong Zhou, SDARI Vice President, at signing of joint development project for a low-emission, ammonia-fueled containment vessel. Photo: ABS

ABS joined forces with MAN Energy Solutions (MAN) and the Shanghai Merchant Ship Design & Research Institute (SDARI) to develop an ammonia-fueled feeder vessel.The joint development project aims to produce designs for an ammonia-fueled Chittagongmax container carrier of 2700 TEU capacity.“Ammonia is an energy source with significant potential to help the industry meet IMO 2030 and 2050 emission targets but will require stringent new safety standards to be developed in order to support its adoption,” said Dr.

06 Dec 2019

Industry Project for First Ammonia-Fueled ULCS Concept

Photo courtesy of LR

LR collaborates with DSIC and MAN Energy Solutions for first ammonia-fuelled ULCS in China.Lloyd’s Register (LR) has granted Approval in Principle to Dalian Shipbuilding Industry Co. (DSIC) and MAN Energy Solutions for an ammonia-fuelled 23,000 TEU Ultra-Large Container Ship (ULCS) concept design, the first ammonia as fuel design of its kind in China.LR facilitated hazard identification (HAZID) workshops to determine potential hazards throughout the design phase, covering areas limited to the ammonia-fueled engine and the external piping systems.

28 Nov 2019

Anemoi Appoints Kim Diederichsen as CEO

Kim Diederichsen. Photo: Anemoi Marine Technologies

UK-based engineering company Anemoi Marine Technologies, the Flettner Rotor innovator, has appointed Kim Diederichsen as CEO with the aim to take the company’s wind assisted propulsion systems to the global market.Anemoi was the recent recipient of the Lloyd’s List “Ship of the Year” Award for the world’s first successful installation of a Flettner Rotor system on a geared dry bulk carrier – the MV Afros.Now with a fully tested and proven solution, the company is widening its reach to offer its patented energy saving technology to a global audience of tanker…

28 Nov 2019

Nordic Ports Unite for Sustainable Transport

The Port of Gothenburg is actively participating in several collaborations to both share and acquire new knowledge about how ports can best work with climate- and environmental issues. Photo: Gothenburg Port Authority.

In a signed declaration, the Nordic ports have agreed to cooperate, exchange information and share approaches in a number of areas relating to the environment and climate. The Port of Gothenburg has joined a collaboration with ten other Nordic ports. IBy connecting land and sea – and by being connecting nodes of global trade and world economy – ports play a vital role in contributing to e.g. UN’s Global Sustainability Goals (SDGs) and creating a sustainable future in line with the Paris Agreement.Therefore…

24 Nov 2019

Belgium Players Join Forces Hydrogen Transportation

Pic: Port of Antwerp

The climate target to reduce CO2 emissions in Belgium by 80% by 2050 compared to 2005 levels is a major challenge. Hydrogen has an important role to play in the mix of solutions to achieve results.That is why Deme, Engie, Exmar, Fluxys, Port of Antwerp, Port of Zeebrugge and WaterstofNet are joining forces. A joint study serves as a basis to coordinate delivery of concrete projects that shape the production, transport and storage of hydrogen.In a hydrogen economy, hydrogen is an important carrier for renewable energy to be used for electricity and heat production…

21 Nov 2019

NJ Governor Doubles Offshore Wind Goal

Governor Phil Murphy, alongside First Lady Tammy Murphy and former Vice President Al Gore, signs an executive order more than doubling New Jersey’s offshore wind goal on November 19, 2019, at Liberty Science Center. (Edwin J. Torres/Governor’s Office)

As New Jersey steps up efforts to eliminate fossil fuels over the next three decades, the state is more than doubling its target for offshore-wind energy production under an executive order signed by Gov. Phil Murphy.The order would increase the goal to 7,500 megawatts by 2035, from 3,500 set for 2030.Murphy made the announcement with former Vice President Al Gore, a clean energy advocate, at a news conference in Jersey City at Liberty Science Center.The Executive Order will deliver the clean…

20 Nov 2019

MIT to Design Ship for Oldendorff

Image: Oldendorff

Dry bulk carrier owner and operator Oldendorff Carriers has signed a research agreement with the Massachusetts Institute of Technology's (MIT) Center for Bits and Atoms (CBA) to make its vessels more green and economical.Oldendorff, together with CBA and its campus collaborators including MIT's Sea Grant Program, will investigate disruptive improvements in ship design and propulsion to achieve the IMO 2030/50 requirements.The initial emphasis will be directed at improving hydrodynamic efficiency, which builds on work CBA has been doing with the aerospace and automotive industries.

15 Nov 2019

Wärtsilä, PSA Marine Collaborate on Clean Energy Shipping

Photo: Wärtsilä

Wärtsilä and Singapore-based PSA Marine have agreed to collaborate in the co-creation of smart technologies for the marine sector. The focus will be on solutions that are human-centric and deployable. The Letter of Intent was signed on November 14 as part of the events celebrating the anniversary of the opening of the Wärtsilä Acceleration Center in Singapore.Specific collaboration areas envisioned include the use of electric or hybrid technologies that further the use of low-emissions energy and propulsion systems…

13 Nov 2019

Maritime 2050: Facing the Decarbonization Challenge

Source: DNV GL

The International Maritime Organization (IMO) greenhouse gas (GHG) strategy signals a true game changing moment for the shipping industry. External pressure was building, but the IMO strategy sets a time line and goals for shipping to tackle one of the great challenges of our time. The GHG strategy gives our latest Maritime Forecast to 2050 its focus, and with this publication we attempt to set out the different strategies and pathways the industry can take to reach these goals.The first conclusion from the report is a sobering one.

07 Nov 2019

Concordia Damen Wins Ship of the Year

Photo: Damen

Inland shipping vessel Sendo Liner, built by Concordia Damen shipyard in Netherlands, has won the KNVTS Ship of the Year 2019 Maritime Award.The award jury highlighted the vessel’s ‘future-proof’ propulsion configuration (diesel-electric supplemented with a battery pack) as a crucial factor in selecting the Sendo Liner as winner. The award was presented at the 2019 Maritime Awards Gala.The Sendo Liner is an inland shipping container ship with dimensions 110 x 11.45 x 3.2 m (LxWxT).

29 Oct 2019

'eTug' Powered by Battery, Hydrogen Fuel Cell

Photo courtesy of e5 Lab Inc

Tokyo Kisen Co., Ltd. and e5 Lab Inc. have jointly developed the new concept design of “e5 Tug,” electric propulsion harbor tugboat powered by large-capacity battery and a hydrogen fuel cell.The e5 Tug is a harbor tug fully electrified and designed to minimize environmental footprint and is equipped with a propulsion system running on “e5 powertrain platform”, devised and planned by e5 Lab, which utilizes a large-capacity battery system as a main power source and a hydrogen fuel…

14 Oct 2019

AIDA Cruises to Pilot Trial of Fuel Cell System

Photo: AIDA Cruises

Carnival Corporation announced its Germany-based brand, AIDA Cruises, has partnered with leaders from the maritime and engineering sectors to pilot the world’s first fuel cell system designed to power large passenger vessels. As early as 2021, AIDA Cruises will trial this innovative fuel technology on AIDAnova, becoming the cruise industry’s first brand to trial fuel cells on a large cruise ship.The research project, named “Pa-X-ell2,” is designed to develop fuel cells that are powered by hydrogen derived from methanol…

13 Oct 2019

German Ports Aim Cleaner Air

Pic: Hafen Hamburg Marketing

Germany's Federal Minister for Economic Affairs and Energy  Peter Altmaier and coastal states agree package of measures for shore-generated power.Instead of burning fossil fuels to generate shipboard electric power, in future vessels in port should be using renewable shore-based energy. The German government is now launching appropriate measures to promote shore-generated power.Along with the premiers of Schleswig-Holstein and Hamburg and representatives of the state governments of Mecklenburg-Western Pomerania…

10 Oct 2019

Chinese LNG Sector Growth to Continue

Graph: VesselsValue

China is at the forefront of the large LNG sector growth and is emerging as the largest source of new LNG demand growth and second largest importer of LNG, VesselsValue revealed.China’s natural gas consumption has surged amid a gasification program and plan that is shifting millions of households and a large number of factories to natural gas from coal, said the report.Greece and Japan dominate in terms of USD value. Greece has recently overtaken Japan as the top owning country…

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