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.
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
Danish shipping group A.P. Moller-Maersk said on Monday it had raised its full-year forecasts on the back of strong third quarter results, robust demand and the continuing disruption to shipping in the Red Sea.Maersk said it had revised its outlook for global container market volume growth in 2024 to around 6% from a range of between 4% to 6% seen previously.
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
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.
As the Military Sealift Command (MSC) celebrates its 75th anniversary, it is looking to the future through the eyes of a forward-thinking “innovation cell” named for a ship from its storied past. USNS Taluga (T-AO-62) was the first Navy replenishment ship that was operated by civil service mariners.
The regulatory landscape is about to get a whole lot more complicated, with the advent of FuelEU Maritime from January 1, 2025. This ambitious framework, focusing on the ‘well-to-wake’ GHG intensity of vessels trading within Europe, laughs in the face of traditional methods of calculating and tracking emissions, making Excel sheets strictly yesterday’s news.
Real-time data on coastal conditions will support improved maritime navigation in New York.Navigating New York waterways just got a bit easier. NOAA and the New York State Department of Environmental Conservation announced the establishment of the Hudson River Estuary Physical Oceanographic Real-time System (PORTS).
The American Welding Society (AWS) Foundation is pleased to announce that it is currently accepting scholarship applications for 2025 from welding students across North America.The deadline to apply for AWS National, District, and Section Scholarships is March 1, 2025.In 2024, the AWS Foundation awarded scholarships to more than 1,200 welding students, providing financial support ranging from $1
U.S. imports from China finished the year strong after some companies stockpiled shipments of apparel, toys, furniture and electronics ahead of President-elect Donald Trump's plan to impose new tariffs that could revive a trade war between the world's economic superpowers.Trump, who has threatened to slap tariffs of 10% to 60% on goods from China, takes office on Jan. 20.