Fortum News

Battery-powered Öresundslinjen ferry notches up an environmental first with turnkey conversion and decontamination of soon to be outlawed PFAS/PFOS fire-fighting foam to an environmentally friendly alternative.Scanunit has carried out what it believes is the world’s first replacement and decontamination of a PFAS/PFOS1 foam firefighting system on a commercial vessel. Aurora, a 1992-built ferry operated by EQT-owned Öresundslinjen (a subsidiary of Molslinjen), was the vessel concerned…

Dozens of Greenpeace activists in Rotterdam port used a ship, buoys and a small flotilla of kayaks on Monday to block traffic around Shell’s Pernis refinery, Europe’s largest, as part of a campaign seeking a ban on fossil fuel advertising.Police ended the blockade after several hours and the port’s authority said economic disruption to the wider harbor was minimal.The action comes as Greenpeace and more than 20 other environmental groups began seeking a million signatures for a European Union-wide ban on adverts and sponsorships by oil and gas companies…

The marine fuel market is undergoing significant change. Following the implementation and impact of IMO 2020, we’re now seeing the focus shift to low and zero carbon fuels, and an expansion of other marine fuel options, predominantly driven by the International Maritime Organization’s (IMO) impending 2030 and 2050 decarbonization targets. With heavy fuel oil (HFO) the dominant fuel type in the maritime sector since the 1960s, there is no question that such incredible change to…

Researchers looking for an ecologically and economically sustainable way to replace fossil fuels are exploring how suitable fuel oils made from biomass and waste plastics are for power plants and ship diesel engines.Internal-combustion engine power plants use natural gas or heavy fuel oil in diesel engines. In order for large diesel engines to be environmentally sustainable both on land and at sea, it is necessary to find bio- and waste-based alternatives to fossil fuels. These…

Finnish state-owned energy company Fortum and Credit Suisse Energy Infrastructure Partners (CSEIP) have today signed an agreement whereby funds advised by CSEIP will acquire an 80% stake in Fortum’s Nordic wind portfolio.Fortum will retain a 20% minority ownership in this wind power portfolio, continue to manage the construction, and serve as long-term asset manager for the wind portfolio.The portfolio consists of the operational Nygårdsfjellet (32 MW, Norway), Ånstadblåheia (50 MW, Norway), and Solberg (76 MW, Sweden) wind parks as well as the Kalax (90 MW, Finland) wind park, which is under construction. The parties have also agreed that funds advised by CSEIP will invest in an 80% share of the Sørfjord (97 MW…

ESL Shipping and AB Fortum Värme have signed an agreement for biofuel transport. The agreement provides ESL Shipping with access to the renewable fuels transport market. The company's transport operations to the new Värtan Energy Port in Stockholm will commence at the end of this year. "Fortum will take an important step when its Stockholm power plant switches to more sustainable energy generation and the biofuel-fired CHP plant is completed. Biofuel is undeniably a good thing for sustainable development. The transport agreement with ESL Shipping ensures ship transport around the year in the ever-changing conditions of the Baltic Sea, and large shipments are important in efficient operations," says Trading Manager Kjell Nilsson of Fortum.

The French-German consortium Areva-Siemens , the supplier of Finland's much-delayed Olkiluoto-3 nuclear reactor, has increased its claim against Finnish utility Teollisuuden Voima (TVO), TVO said late on Friday. TVO and Areva have traded accusations about who is to blame for delays and extra costs, and the International Chamber of Commerce's (ICC) arbitration court is processing a dispute on cost overruns between the two sides. Areva-Siemens in September said the start date of the reactor, which is planned to be Finland's fifth and biggest nuclear unit, will be pushed back to late 2018 - almost a decade later than originally planned. TVO on Friday said Areva-Siemens raised its claim against it to 3.5 billion euros ($4.4 billion) from the previous 2.6 billion euros at the ICC arbitration.

Finland's top utility, state-controlled Fortum, on Monday said it has acquired a 14 percent stake in Finnish wave energy developer Wello. Wello has developed a floating vessel that captures energy from waves and converts it into electrical power with a generator, Fortum said. It did not disclose the value of the deal. (Reporting By Jussi Rosendahl; Editing by Michael Urquhart)

Reuters - Finnish gas company Gasum is to acquire 51 percent of Norwegian Skangass's distribution operations from Lyse Corporation as it seeks to improve the efficiency of its liquefied natural gas (LNG) network. Gasum said on Monday that the deal, which will make it the largest Nordic operator in the LNG market, is also intended to ensure that it benefits from tighter European Union emissions regulations. Various new regulations on sulphur emissions in the shipping sector will come into place for much of the North and Baltic Sea as well as the United States and Canada in 2015, which has driven interest in alternative fuels to diesel.

WaveRoller, the wave energy device created by wave energy developer AW-Energy has received independent performance verification, taking the wave power industry one step closer to commercialization. WaveRoller received its validation after operating in fully exposed ocean environment during testing campaigns in 2012 and 2013. AW-Energy submitted detailed data covering wave conditions and device performance for external verification. Independent verification of the WaveRoller power…

Cargotec has secured orders for three new mobile Siwertell ship unloaders for ports in Turkey, Denmark and Sweden. The Siwertell road-mobile unloader enables clean, dust-free, handling of dry bulk material, and its minimal exhaust and sound emissions also means that it has the advantage of being able to be used in sensitive sites or those close to populated areas. The first of these new orders has now been commissioned and sees a diesel-powered, trailer-based Siwertell 10 000 S unit with a dual bellows system and dust filters in operation for Muhammet Gümüstas, in Trabzon, Turkey. The new unit handles cement at a rated capacity of 300t/h.

Maersk Tankers, Hyundai Heavy Industries (HHI) and Det Norske Veritas (DNV) have agreed to collaborate on the design and risk assessment of tankers for shipping CO2. Maersk Tankers is already in a partnership with Maersk Oil and Finnish utilities Fortum and Teollisuuden Voima (TVO), aimed at developing a joint carbon emissions abatement project in the area of Carbon Capture and Storage (CCS). “Shipping CO2 in tanker vessels is a cost effective and flexible way to get CO2 from power plants to offshore storage sites, which makes it a suitable solution for large CO2 emission sources such as coal-fired power plants, especially in the emerging phase of CCS.” says Anders Schulze, Head of CO2 Shipping in Maersk Tankers.

Following Advanced Polymer Coatings’ announcement earlier in the year of its first two chemical tanker coatings contracts won in Turkey, the anticorrosion specialist has just announced a number of further new business gains and opportunities in this developing shipbuilding country. It has also reported gains in other markets. APC’s unique polymer-based tank protection system MarineLine has now been specified for the cargo tanks of 10 more ships to be constructed or converted in Turkey. These range in size from two 1,450 dwt chemical tankers for Holland’s Unifleet NV, to be constructed by the RMK Marine shipyard, to two 29,990 dwt chemical tankers from UM Shipyard for Fairfield Chemical Tankers of the USA.

Fortum's Vice President, Corporate Branding, from 8 December 2003. agreed brand strategy. responsibilities. Corporate Communications. has gathered a broad international branding expertise. among a number of top-level professionals. Teir-Lehtinen, Senior Vice President, Corporate Communications.

The Board of Directors has decided to redeem the preference shares issued by Fortum Corporation's subsidiary, Fortum Capital Limited. The redemption will take place on December 30, 2003. The preference shares, worth EUR 1.2 billion, were issued in connection with the financing arrangements related to the acquisition of Stora Enso power assets in June 2000. Fortum will finance the redemption with debt. All of the preference shares have carried a fixed dividend of 6.7% per annum. The interest rate swap arrangements that Fortum simultaneously entered into has brought Fortum's effective cost of funding below the fixed rate dividend. The proceeds of the bond offering made by Fortum in early November with favourable market terms will be used for the redemption.

Risto Rinne M.Sc.(Eng.) has been appointed President of Fortum's Oil Sector and member of the Corporate Executive Committee as of January 15, 2004. He will also be President and CEO of the new oil company, which will be listed on the Helsinki Stock Exchange. Rinne, who has held several prominent positions within the oil industry for more than 20 years, has most recently been President of the Oil Refining business unit. The current President of the Oil Sector, Mr Veli-Matti Ropponen, will continue as advisor to the group management regarding the initial public offering of the new oil company. He will continue to report to the President and CEO of Fortum Oyj.

M.Sc. (Econ.) Petri Pentti has been appointed CFO of Fortum's Oil Sector and of the new oil company to be listed on the Helsinki Exchanges. He assumes his new position in August 2004 and will be responsible for the whole economic function, including treasury and investor relations. He will report to Mr Risto Rinne, President of the Oil Sector. Petri Pentti is currently Senior Vice President and CFO of Finnair Oyj.

Increased interest in ice-classed tankers has been fostered to a great extent by the emergence of former Soviet Union (FSU) states as important players in the oil market. The FSU collectively, but with particular reference to Russia, Azerbaijan, Kazakhstan and Turkmenistan, has emerged as the engine of global oil supply growth. Since 1996, FSU output has grown by around 50-percent, approaching the highs achieved during the Soviet regime. The fact that a substantial part of the production has been made available for export has key implications for sea borne transportation logistics and opportunities. Special challenges are presented for tanker design and operations because of the harshness of the environments in which the trade has to be conducted.

Timo Karttinen, MSc (Eng), has been appointed SVP Corporate Development and member of the Corporate Executive Committee as of July 1st, 2004. In recent years, Mr Karttinen has been in charge of Fortum's Portfolio Management and Trading Unit. His successor in this position is Mr Per Langer, MSc(Econ) and BSc(Eng), also effective on July 1st. Mr Langer is currently in charge of the optimization of Fortum's power production.

Wärtsilä Corporation has received a contract to supply the complete power systems for two 14,000 tdw product/chemical tankers under construction for the Finnish energy group Fortum. The two tankers have been contracted at the Portuguese shipbuilder Estaleiros Navais de Viana do Castelo, with delivery due in 2003. With a cargo capacity of 16,000 cu m, they are of 140 m length overall by 21.7 m breadth, and have a service speed of 16 knots. They are also being built to ice class 1A Super. Each Wärtsilä power system comprises a Wärtsilä 8L46 main engine, reduction gearbox with power take-off (PTO) drive, controllable-pitch propeller, and three generating sets, two driven by Wärtsilä 6L20 engines and one by a Wärtsilä 4L20 engine.

Wärtsilä Corporation has received a contract to supply the complete power systems for two 14,000 tdw product/chemical tankers under construction for the Finnish energy group Fortum. The two tankers have been contracted at the Portuguese shipbuilder Estaleiros Navais de Viana do Castelo, with delivery due in 2003. With a cargo capacity of 16,000 cu m, they are of 140 m length overall by 21.7 m breadth, and have a service speed of 16 knots. They are also being built to ice class 1A Super. propeller, and three generating sets, two driven by Wärtsilä 6L20 engines and one by a Wärtsilä 4L20 engine. power of 8400 kW each, the 8L46 main engines will be equipped with Direct Water Injection (DWI) for reduced NOx emissions.

Finnish exports and imports were almost at a standstill last week as a strike over a wage claim by transport workers supported by stevedores and seamen went into a second day. The state labor mediation office said no new talks had been scheduled between unions and employers. Harri Tuulensuu, director of the Federation of Finnish Master Stevedores, said municipal ports were for the most part closed, although an insignificant volume of traffic was moving in Helsinki and Hamina, due to certain special agreements. A few industrial harbors linked to the refineries of energy group Fortum and steel group Rautaruukki were still operating as their stevedores were not members of the striking AKT union. But due to the seamen's sympathy strike they too could face difficulties, Tuulensuu said.

Finnish exports and imports were almost at a standstill last week as a strike over a wage claim by transport workers supported by stevedores and seamen went into a second day. The state labor mediation office said no new talks had been scheduled between unions and employers. Harri Tuulensuu, director of the Federation of Finnish Master Stevedores, said municipal ports were for the most part closed, although an insignificant volume of traffic was moving in Helsinki and Hamina, due to certain special agreements. A few industrial harbors linked to the refineries of energy group Fortum