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.
On April 30, Senator Mark Kelly (D-AZ), together with several original co-sponsors, reintroduced the SHIPS for America Act in the U.S. Senate, first introduced in December 2024, divided into two bills. Companion legislation was also introduced in the U.S. House of Representatives by Rep. Trent Kelly (R-MS) and Rep. John Garamendi (D-CA). This is a major, historic effort to revitalize the U.S.
A Trump administration proposal aimed at reviving the U.S. shipbuilding industry may backfire by imposing steep fees on China-linked vessels—penalties that industry leaders say would hurt American ship operators and ports rather than help them, industry executives said at U.S. Trade Representative hearings on Monday.
Finland's public transport agency said that an oil tanker suspected of damaging undersea cables in the Baltic Sea was found to have serious deficiencies and will not be allowed to operate until repairs have been made.Baltic Sea nations are on high alert after a string of power cable, telecom link and gas pipeline outages since Russia invaded Ukraine in 2022.
Sweden will spend 4 billion crowns ($437 million) on unmanned drone systems to be delivered over the next two years, the country's Defence Minister Pal Jonson said on Monday.The NATO member will buy unmanned systems including long-range attack drones, electronic warfare systems and surveillance drones as well as marine surveillance and minesweeping drones.
Denmark's Orsted and Vestas, two of the world's top offshore wind power groups, urged European nations on Wednesday to speed up permitting, improve auction terms and invest in power grids to deliver their potential for strong growth in the sector.The offshore wind industry, facing a near-frozen U.S.
Danish wind farm developer Orsted's Revolution Wind joint venture has filed a lawsuit against the administration of President Donald Trump over the U.S. government's decision to block construction of the project off Rhode Island, a court filing showed on Thursday.The U.S. Bureau of Ocean Energy Management (BOEM) gave Revolution Wind a stop-work order last month
Norwegian engineering group Kongsberg is building up production capacity to meet growing orders for its defence products, especially missiles, as European nations bulk up their military spending.Kongsberg, which has customers in defence, aerospace, maritime, energy and fishing industries, booked orders worth 18.18 billion Norwegian crowns ($1.
A CDS River Cruise 135 type cruise vessel, the Excellence Crown, to Swiss shipping company Twerenbold Reisen Group, which christened the vessel in May 2025 in Basel. The 135-m ship features hybrid propulsion and was designed and built by the Concordia Damen shipyard in Werkendam, the Netherlands.
Wage talks involving some 7,500 oil drilling workers in Norway broke down on Wednesday, employers and three labour unions said, raising the risk of strike action later this year that could disrupt exploration.The talks between the Norwegian Shipowners' Association (NSA) and the Safe, Styrke and DSO labour unions will resume at a later unknown date with a state-appointed mediator.
Denmark will spend about 4 billion crowns ($614 million) on building and procuring 26 navy vessels for patrolling, oil spill response and surveillance of undersea cables, Defence Minister Troels Lund Poulsen said on Tuesday.Countries bordering the Baltic Sea are on high alert after a number of outages of power cables, telecom links and gas pipelines since Russia's invasion of Ukraine in 2022