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Ocean Oasis unveils wave energy-driven desalination prototype

Norwegian company Ocean Oasis has presented the prototype device, named Gaia, for wave energy desalination that will be tested at the Oceanic Platform of the Canary Islands (PLOCAN). Unveiling of Ocean Oasis’ Gaia prototype in the presence of investors and government officials (Courtesy of Ocean Oasis) Ocean Oasis’ offshore floating desalination plant, unveiled at Las …

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DNV, MPA Singapore renew decarbonization and digitalization partnership

Image credit DNV DNV classification society and Singapore’s Maritime Port Authority (MPA) have agreed to continue their collaboration on decarbonization and digital innovation in the maritime industry. Kenneth Lim, Assistant Chief Executive (Industry and Transformation), Maritime and Port Authority of Singapore (MPA), and Cristina Saenz de Santa Maria, Regional Manager South-East Asia, Pacific & India, Maritime …

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Norway’s oil & gas output slightly higher in October

Even though Norway saw a slight increase in oil and gas production in October compared to the figures from September 2022, these figures are still below the Norwegian Petroleum Directorate’s predictions. In addition, they are lower than the ones recorded last year. Preliminary production figures for October 2022 show an average daily production of 1 …

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STEALTHGAS INC. Reports a 600% Rise in Net Income During Nine-Month Period of 2022

STEALTHGAS INC., a ship-owning company serving the liquefied petroleum gas (LPG) sector of the international shipping industry, announced today its unaudited financial and operating results for the third quarter and nine months ended September 30, 2022. OPERATIONAL AND FINANCIAL HIGHLIGHTS1 Entered into a number of medium to long term charters increasing forward coverage. About 40% …

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Industry calls for earmarking of shipping ETS revenues in final negotiating round

As negotiations on the inclusion of shipping in the EU ETS enter the final stretch, European shipowners, ports and port operators, the cruise and ferry sector, shipyards and equipment manufacturers, fuel suppliers, shippers and forwarders, ship managers and the European maritime clusters reiterate their call to regulators to earmark ETS revenues from shipping back to …

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LNG shipping stocks: Head and Shoulders formation confirmed

The UP World LNG Shipping Index (UPI), the world’s only stock index focused on LNG shipping companies, lost 1.79% last week. U.S. stocks represented by the S&P 500 (SPX) index lost 0.69%. The UP Index declined, and the formation of a pattern known in technical analysis as Head and Shoulders is now confirmed. The probability …

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BIMCO launches campaign to call for removal of single-use plastics

BIMCO has launched a campaign to raise awareness and help support the removal of single-use plastic bottles from ships. Today, even if plastics on board ships are sorted, managed, and discharged to shore in a proper way, mismanagement of waste on land means it can still reach the ocean. With up to 1.75 billion plastic …

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China adds over 100 new container shipping routes

China’s major sea ports are opening up more than 100 new container shipping routes this year, providing solid support for the stability of supply chains as well as bolstering China’s foreign trade. Buoyed by favorable factors, the country’s imports and exports may grow 6 percent in 2022 and is projected to hit a record high …

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Equinor unveils plan to invest over $1.4 bln in deepwater gas development

Norwegian state-owned energy giant Equinor has submitted a plan for the development and operation (PDO) of a deepwater gas project in the Norwegian Sea to the country’s Ministry of Petroleum and Energy (MPE). The project has a planned investment of over $1.4 billion. While disclosing that the PDO for the Irpa gas discovery, formerly known …

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Greasing the wheels of progress

Developing lubricants dedicated to maritime and offshore clean, reliable & long-lasting With increasing awareness of sustainability, the role of a lubricant is changing. It’s no longer sufficient to reduce wear, tear, and costs. Today, a lubricant must also take care of the environment. Supporting sustainable innovationHaving grown in importance in recent years, environmentally acceptable lubricants (EALs) …

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