Insights News

Shipping must engage with the decarbonization realities that lie ahead by changing the way it crafts maritime legislation to reflect its place in the interconnected, interdependent world economy, says Eero Lehtovaara, ABB Marine & Ports.ABB Marine & Ports Head of Regulatory & Public Affairs, Eero Lehtovaara has carved out an unusual - and possibly unique - role in the maritime industry over recent years, as a ‘stakeholder’ simultaneously mindful of the perspectives of owners, seafarers…

Western sanctions on Russia have significantly reduced state oil revenues and diverted tens of billions of dollars towards shipping and refining firms, some with Russian connections.Most of the winners from the sanctions are based in China, India, Greece and the United Arab Emirates, at least 20 trading and banking sources said. A handful are partly owned by Russian companies.None of the firms is breaching sanctions, the sources told Reuters, but they have benefited from measures…

The green hydrogen express is gathering pace, but it may have a worrying problem with leaks.As governments and energy companies line up big bets on the much-touted fuel of the future, some scientists say the lack of data on leaks and the potential harm they could cause is a blind spot for the nascent industry.At least four studies published this year say hydrogen loses its environmental edge when it seeps into the atmosphere. Two scientists told Reuters that if 10% leaks during its production…

A dispute between Israel and Lebanon over their maritime boundary has obstructed energy exploration in the eastern Mediterranean and risks exacerbating tensions between two foes.After months of deadlock in U.S.-mediated talks, Beirut on Sunday warned against any activity in the disputed area, responding to the arrival of a vessel to develop a field for Israel. Lebanon has said the field in question, Karish, is in disputed waters. Israel denies this.Here's what you need to know about the standoff:WHAT'S AT STAKE?Gas - potentially a lot of it.Lebanon and Israel are located in the Levant Basin…

Those who are old enough (or young enough) to remember Justin Timberlake’s poignant lyrics, ‘What goes around, goes around, goes around, comes all the way back around’, will appreciate their significance and relatability to the offshore oil and gas market. On that theme, it appears a vessel very close to my heart, the AHTS previously known as Sanko Energy (now Ena Shogun), has come 'all the way back around.'News is filtering through the market that Eastern Navigation (Singapore) has sold the vessel five years after purchasing it from Sanko Steamship in early 2017.So why does this vessel resonate with me? Well, from a professional perspective, it was my first analyst experience of a sale that went against everything established market experts thought about values and sale prices.

Offshore drilling rig reactivations have begun as utilization and dayrates continue their rapid recovery, Esgian's Teresa Wilkie writes.We expected it to happen just not necessarily this soon. But now it’s official, several cold-stacked rigs are about to be reactivated for new jobs in the Golden Triangle, and Valaris is taking the lead. Just last week, the driller confirmed that it will reactivate 6th generation, ultra-deepwater drillship Valaris DS-4 for a minimum 580-day deal with Petrobras Brazil.

When U.S. President Joe Biden’s administration approved the country’s first major offshore wind farm this month, it billed the move as the start of a new clean energy industry that by the end of the decade will create over 75,000 U.S. jobs.Industry executives and analysts do not contest that claim, but they make a clarification: For the first several years at least, most of the manufacturing jobs stemming from the U.S. offshore wind industry will be in Europe.Offshore wind project developers plan to ship massive blades, towers, and other components for at least the initial wave of U.S.

In the last year, the Covid-19 pandemic has increased the risks of working in what was already one of the most hostile environments on Earth. But, with the first anniversary of the outbreak not long in our collective rear-view mirrors, offshore workers in the North Sea are facing a twin threat: emerging new variants of the virus and increasing Covid-fatigue and complacency.The UK offshore industry has achieved an enviable safety record during the pandemic, due in large measure to the widespread testing of offshore workers before mobilization.

LOC Group’s Houston office provides perspective on decommissioning developments in the Gulf of Mexico.The Gulf of Mexico basin covers approximately 1.6 million km2 and is one of the most important petroleum production regions in the world. A significant portion of the area is shallow continental shelf waters. These areas were developed first by oil companies, with deeper water development only being undertaken once the ‘easier’ sites had been exploited. Many years on, numerous…