Offshore wind developer Orsted won shareholder approval on Friday for a $9.4 billion emergency rights issue to help fund U.S. projects thrown into uncertainty by President Donald Trump's opposition to the renewable energy source.The stakes are high for the Danish state-controlled firm
Shares in Orsted plunged to a record low on Monday as the wind farm developer asked shareholders for $9.4 billion to help fund a U.S. project, after potential partners were put off by U.S. President Donald Trump's hostility to wind power.The 60 billion crowns ($9.4 billion) rights issue is worth around half of the Danish company's market value as of Friday's close.
The UK Marine Accident Investigation Branch (MAIB) has released its interim report on the foundering of the Bayesian, saying the yacht may have been vulnerable to high winds and that such winds may have been evident at the time of the accident.On 19 August 2024, the UK registered large sailing yacht Bayesian foundered in high winds 0.5 nautical miles south-east of the port of Porticello, Italy.
China has allowed representatives from Germany, Sweden, Finland and Denmark to board a Chinese bulk carrier at the centre of an investigation into Baltic Sea cable breaches, the Danish foreign minister said on Thursday.The Yi Peng 3 vessel is wanted in Sweden for questioning over a breach of two undersea fibre-optic cables in November
Weathernews, a Japan-headquartered weather intelligence firm, and Belgium’s Toqua, a developer of physics-informed AI for ship performance modeling, have entered a strategic partnership to integrate vessel-specific performance models into Weathernews’ voyage optimization systems.The collaboration aims to improve fuel efficiency and operational predictability by combining Toqua’s AI-trained
A liquefied natural gas tanker has left Russia's Arctic LNG 2 after loading a cargo there, according to data compiled by LSEG and analytics firm Kpler, as the project continues output despite Western sanctions over Moscow's war in Ukraine.The Christophe De Margerie tanker arrived at Arctic LNG 2 on October 17 and departed loaded on October 20, according to Kpler data.
ABB has signed a memorandum of understanding (MoU) with Swedish nuclear energy company Blykalla to support and accelerate the deployment of small modular lead-cooled reactors to the maritime industry.Building on the terms of an existing MoU between Blykalla and ABB signed in October 2024, which targets developing lead-cooled SMR technology to support Sweden’s clean energy requirements
Crowley Stena Marine Solutions, the joint venture between Crowley and Stena Bulk, has received approval from the U.S. Maritime Administration (MARAD) to operate the CS Anthem tanker under the Tanker Security Program.The CS Anthem, a U.S.-flagged, 49,990-metric-ton, medium-range tanker, is crewed and managed by Crowley under a bareboat charter through the joint venture.
Wasaline says it has become the first carbon-neutral shipping company in the Baltic Sea, reaching its original 2030 climate target six years ahead of schedule. The milestone comes as the Finnish-Swedish operator signed a biogas supply contract with Gasum and entered a FuelEU Maritime pooling agreement with Stena Line, enabling its Vaasa–Umeå service to run entirely on biofuels.
Analysts question feasibility as framework trade deal outpaces current U.S. export capacityThe European Union’s commitment to purchase $250 billion in U.S. energy supplies annually under a new trade framework with Washington faces significant market challenges, according to analysts and industry observers.The agreement, announced Sunday, includes 15% U.S.
Port of Virginia’s Portsmouth Marine Terminal has welcomed the arrival of the first substation to be installed at the Coastal Virginia Offshore Wind (CVOW) project.The CS Wind Offshore and Semco Maritime consortium was selected by Dominion Energy in 2021 to deliver three 880 MW offshore substations for the project, under development by Dominion Energy.
The first jacket foundation for the substation of the Coastal Virginia Offshore Wind (CVOW) project has departed from the Danish Port of Esbjerg and is on its way to the United States to be installed at the country’s largest offshore wind farm.The first of three offshore jacket foundations, standing 60-meter-tall and weighing approximately 2,445.