The offshore wind industry has made great strides to become a cost-competitive option for grid and off-grid energy solutions. And today, the industry is growing faster than ever before, both in the well-established European market and in newer ones such as in China, Taiwan, Japan and the U.S.
Shipping group Maersk said on Wednesday it is confident about the outlook for shipping beyond 2020 as a second wave of coronavirus infections has only had a limited impact on global freight volumes.Maersk, the world’s biggest container shipping line, has recovered faster than expected after the pandemic halted trade around the world, benefiting from higher retail sales in the United States.
The United Nations shipping agency on Tuesday approved measures to boost energy efficiency in vessels as part of efforts to reduce the industry's carbon footprint, a UN spokeswoman said.Countries approved the additional regulations to reduce the carbon intensity of commercial ships at this week's virtual Marine Environment Protection Committee (MEPC) session of the International Maritime
The shipping industry must act now in order to meet U.N. targets to cut carbon emissions by 2050, leading officials said on Wednesday, ahead of a meeting next week that will seek to advance a plan.The U.N. agency the International Maritime Organization (IMO) has said it aims to reduce overall greenhouse gas emissions from ships by 50% from 2008 levels by 2050.
General Dynamics Corp was awarded a $9.47 billion contract for the construction of Columbia class submarines, moving the U.S. Navy's top procurement priority out of the early-construction phase, the Pentagon said on Thursday.The contract for the nuclear-powered ballistic missile submarines covers the move to full construction of the first ship in the class, the USS Columbia
ARES Shipyard in Antalya, Turkey has been awarded a contract to build 122 patrol boats for the Turkish Coastguard.“The project represents the largest volume serial production in Turkey’s shipbuilding history, and it will certainly put a significant record in the world’s shipbuilding archives as well,” said Utku Alanc, CEO of ARES Shipyard.
Insurance claims for damage to ships, goods and the port itself after a warehouse explosion last week in the port of Beirut were likely to total less than $250 million, reinsurance broker Guy Carpenter said on Monday.Overall insured losses - including property damage - from the August 4 port warehouse detonation of more than 2,000 tonnes of ammonium nitrate may reach around $3 billion
Petroleum facilities guards prevented a tanker from entering Libya's Es Eider port to load a cargo of crude oil from storage on Wednesday, the National Oil Corporation (NOC) said in a statement.The Delta Ocean tanker had been blocked from loading despite what NOC Chairman Mustafa Sanalla called "the clear Libyan and international consensus that the NOC should lift force majeure.
Chinese oil companies may soon decline to charter any tanker that has visited Venezuela in the past year to avoid disruption to operations if the United States blacklists more ships for trading with Caracas, four shipping sources told Reuters on Tuesday.The U.S. government is seeking to choke Venezuelan oil exports to starve the government of socialist President Nicolas Maduro of its main source
Traders are storing an estimated record 160 million barrels of oil on ships - double the level from two weeks ago as they seek to tackle a glut of stocks created by a slide in global demand from the coronavirus, shipping sources say.Organization of the Petroleum Exporting Countries (OPEC) and other producers including Russia have agreed a record cut in output from May of 9.
A consortium formed by Germany’s Thyssenkrupp AG and Brazilian planemaker Embraer SA signed a deal on Thursday to deliver four frigates to Brazil’s navy between 2025 and 2028, the companies said in a statement.The contract signed in Rio de Janeiro is part of Brazil’s drive to modernize its navy so it can patrol off-shore resources in the Atlantic, such as Brazil’s vast pre-salt oil reserves.
U.S. crude exports from Corpus Christi, Texas, have surged to a record in recent weeks, often surpassing hubs such as Houston and Beaumont, Texas, thanks to faster-than-expected infrastructure additions.The infrastructure boom at Corpus Christi helped push crude exports there to a weekly record of 1.