Soaring costs, project delays and limited investment put targets out of reachAfter a year of canceled projects, broken turbines, and abandoned lease sales, the global offshore wind industry no longer has much chance to hit the lofty targets set by governments in the U.S., Europe and elsewhere ... with the exception of China.
South Korean President Yoon Suk Yeol spoke with Donald Trump on Thursday and congratulated him on winning the U.S. presidency on the "Make America Great Again" slogan as officials in Seoul worked to prepare for "significant" economic changes.Yoon and Trump held a 12-minute phone call and discussed the close security and economic ties of their two countries across all areas
The cost of insurance for ships sailing through the Red Sea has nearly doubled after Yemen's Houthis attacked a tanker that appears to be leaking oil, with environmental fears growing for trade route, industry sources said on Wednesday.Iran-aligned Houthi militants first launched aerial drone and missile strikes on the waterway in November in what they say is solidarity with Palestinians in Gaza.
Hengli Group, privately-controlled Chinese oil refiner and petrochemicals producer, said on Monday it will invest 9.2 billion yuan ($1.3 billion) in shipbuilding in northeast China, two years after it acquired South Korean shipyard STX's assets.The group's unit Hengli Heavy Industry expects to build annual steel processing capacity of 1.8 million metric tons as well as 7.
The global cruise industry reported record passenger volumes in 2023 as the sector continues its rebound following the lows of the COVID-19 pandemic.Cruise ships carried 31.7 million passengers in 2023, up 7% from previous highs recorded in 2019, according to latest figures published by the trade group Cruise Lines International Association (CLIA).
The Dutch government on Friday said it had picked French defense company Naval Group to build four new submarines in coming decades in a long-brewing deal seen by politicians as a potential lifeline for the national shipbuilding industry.The government said the first two submarines would be operational within the next 10 years. It did not specify the exact value of the multi-billion euro contract.
Berge Bulk informs it has placed an order for two ammonia dual fuel vessels from China's Qingdao Beihai Shipbuilding Heavy Industry as part of a push by the dry bulk shipowner to decarbonize its operations.The two 210,000-DWT Newcastlemax vessels will meet the International Maritime Organization's (IMO) Tier III NOx (nitrogen oxides) standards and Energy Efficiency Design Index (EEDI) Phase 3
Norwegian oil companies resumed helicopter flights to offshore oil and gas fields on Friday following Wednesday's deadly crash off the country's west coast, operator Equinor and airports said on Friday.On Thursday helicopter traffic was halted to oil and gas platforms following the crash in which one person died and five were injured.
New Jersey's utility regulator on Wednesday approved two offshore wind power projects with a combined capacity of 3,742-megawatts (MW) whose backers include Invenergy and TotalEnergies.The offshore wind industry is expected to play a major role in helping several states and U.S. President Joe Biden meet goals to decarbonize the power grid and combat climate change.
Crowley on Wednesday announced it has taken delivery of its groundbreaking vessel eWolf, the first all-electric, ship assist harbor tugboat in the United States.The 82-foot tug, designed by Crowley’s engineering services team and built by Coden, Ala. shipbuilder Master Boat Builders
Offshore drilling contractor Stena Drilling has taken delivery of its 7th generation Stena Evolution ultra-deepwater drillship from Samsung Heavy Industries.After a decade in the making, Stena Evolution drillship has finally been completed and is ready for its first job.The technologically advanced drillship is capable of operating at water depths of up to 12,000ft (around 3
China Merchants Energy Shipping (CMES), the Shanghai-listed shipping giant and daughter company of China Merchants Heavy Industry (CMHI), has ordered an MAN B&W 7G80ME-LGIM (-Liquid Gas Injection Methanol) main engine in connection with the construction of a very large crude carrier (VLCC).