Recent Houthi attacks on vessels passing through the straits of Bab al-Mandab on their way through the Red Sea mean that the shipping industry has moved beyond trade press reporting and onto front page news. While the causes of the current situation are very different, it is possible to draw a significant parallel with the …
Technology group Wärtsilä has entered into a collaboration agreement with Seattle, USA based naval architecture and marine engineering firm, Elliott Bay Design Group (EBDG), to further develop EBDG’s Clean Harbor Alternative Mobile Power (CHAMP) Barge design. Featuring Wärtsilä’s methanol engine technology, the collaboration introduces a cost-effective solution to reduce emissions from large vessels in situations …
Wartsila aims to start selling a marine carbon capture and storage system with quick paybacks next year, according to a company manager, suggesting the novel technology could accelerate the shipping industry’s decarbonization pace for the International Maritime Organization’s climate target for 2040. Having been running the CCS system at an onshore test facility for two …
Wartsila aims to sell CCS with quick paybacks for IMO 2040 target Read More »
Ahead of the 2024 European elections, ECSA launches its policy priorities for the next five years. The four pillars are Climate and energy transition, People-centred green and digital transition, Ship Finance and Competitiveness and Trade. Europe is facing an existential transformation as it strives to meet climate neutrality by 2050 while maintaining industrial leadership at …
The Baltic Exchange’s dry bulk sea freight snapped a 12-session winning streak on Tuesday, as pressure from lower capesize rates outweighed gains in smaller vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was down 0.3% at 2,291 points. The capesize index snapped its nine-session rising streak, shedding …
Baltic index ticks down as capesize losses offset gains in smaller vessels Read More »
Asia’s spot cash premium for very low sulphur fuel oil (VLSFO) fell for a fifth consecutive trading day, though refining margins held steady. Offers for VLSFO continued to soften from the previous session, with cash premium sliding to an eight-week low of $1.64 a metric ton. Singapore’s spot VLSFO market has trended lower since mid-February …
Asia Fuel Oil-Spot VLSFO logs downtrend for fifth trading day Read More »
The European first major hydrogen corridor, the so-called H2Med project comprised of hydrogen interconnection […] The post Engineering and environmental studies launched for EU’s first hydrogen corridor appeared first on Offshore Energy.
A containership owned by Switzerland-based MSC, the world’s biggest shipping company, was hit by a missile in the Red Sea on March 4, 2023. The post MSC ship hit by missile in Red Sea appeared first on Offshore Energy.
Japan Petroleum Exploration (JAPEX) and Invest Alberta Corporation (IAC), an investment attraction agency established […] The post JAPEX partners with Invest Alberta to pursue CCS and hydrogen/ammonia projects in Canada appeared first on Offshore Energy.
Renewables for Subsea Power (RSP) project which has combined wave power with subsea energy […] The post Wave power for subsea equipment project finishes 12-month-long test program appeared first on Offshore Energy.
