”Achieving climate-neutral shipping by 2050 not only requires comprehensive regulatory clarity but it also requires renewable fuels to be available to shipping on a global and competitive basis,” states VDR’s CEO, Martin Kröger. | Foto: Pr/port of Hamburg/michael Lidner

German shipowners: Availability of green fuel is key to realizing shipping's climate target

Necessary technologies and shipping’s willingness to adapt to a green future are already present, but the large-scale production of green fuels is missing, says the German shipowners’ association.

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European Commissioner for Energy Kadri Simson can catch her breath following last year's soaring gas and power prices. | Foto: European Union

Policy & Trading

EU terminates power market crisis measures

Electricity and gas prices have stabilized to a point that the European Commission is ready to put an end to the crisis measures originally meant to curb major price fluctuations in 2022.

For subscribers

Ørsted CFO Daniel Lerup denies any claim that the company's US offshore wind pipeline is unviable, but admits that a lot of challenges currently hold sway. | Foto: Ørsted

Utilities

Ørsted squeezed in the US

Inflation and surging interest rates mount pressure on Ørsted’s planned offshore wind farms off the US East Coast, writes Børsen.

Cleantech

Norwegian carrier calls on customers to pay for decarbonization

Wallenius Wilhelmsen’s customers must pay for decarbonization this year if they want to stay on board as customers of the Norwegian car carrier.

Did you read?

Ørsted squeezed in the US

Inflation and surging interest rates mount pressure on Ørsted’s planned offshore wind farms off the US East Coast, writes Børsen.

NKT expects to land a large order regarding high-voltage cables for offshore wind turbines in Poland. The picture shows cables in the waters near Karlskrona, Sweden. | Foto: Nkt

Renewables

NKT to sign cable contract for offshore wind in Poland

An order for delivery of high-voltage power cables for Baltic Power Offshore Wind Park could amount to more than EUR 120m if the deal comes through as expected in late June, NKT informs.

Utilities

Dam blast poses no immediate threat to nuclear power plant

According to a nuclear agency, the situation is under control at Zaporizhzhia nuclear power plant following dam destruction.

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Renewables

DNV verifies Polytech's leading edge protection Elle

Elle is thus the only leading edge protection with DNV verification across the industry.

Wind sector particularly vulnerable to cyber attacks

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Too much solar and win power proved costly for UK operator

On Monday, UK produced too much electricity without being able to turn off nuclear and gas supplies. Intervention was needed to handle system inertia.

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Foto: Alexander Manzyuk/Reuters/Ritzau Scanpix

Oil & Gas

Oil edges lower as economic worry outweighs production cuts

Market stakeholders await whether the Fed intends to hike or hold interest rates in June. Increased rates could slow down energy demand.

Policy & Trading

Grid operator Linja combines AI with satellites to monitor power grid

In 2018, online company Linja moved up the ranks when European Space Agency extended an invitation to develop a new solution featuring artificial intelligence.

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Cleantech

New report: Shipping will use up half of all available biofuel in 2050

Biofuel production capacity could fall short of both short and long-term demand, estimates maritime consulting firm DNV in a new report.

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Renewables

Norway to allow new offshore projects outside regular tenders

If an offshore player brings forth a project that can be realized without state subsidies, we ought to listen, says Norwegian Minister of Petroleum and Energy Terje Aasland.

For subscribers

Did you read?

Dam blast poses no immediate threat to nuclear power plant

According to a nuclear agency, the situation is under control at Zaporizhzhia nuclear power plant following dam destruction.

Renewables

Lacklustre floating offshore wind subsidies could delay Utsira Nord

The Norwegian oil and energy minister initially said the Utsira Nord timeline would not be impeded by lacking subsidy flows. Now, the sentiment has changed.

For subscribers

According to an analyst, consumers shouldn't expect gasoline prices to keep to their downward trajectories. | Foto: Mogens Flindt/Ritzau Scanpix

Oil & Gas

Saudi production cut could stoke gasoline prices

Saudi Arabia looks to cut oil output in efforts to boost prices. Scandinavian consumers could suffer the consequences.

Renewables

Reality once again strikes for multipurpose carriers following golden two-year stint

During the pandemic, custom carriers also hauled boxes, but those days are behind us, says AAL Shipping chief exec.

For subscribers

Saudi Arabia cuts production output in efforts to bolster price

A string of oil producing countries rally to further cut crude production outflow.

“Safety concerns persist regarding toxicity mitigation and with limited development of propulsion technology,” Shell said regarding the use of ammonia as an alternative fuel. | Foto: Umit Bektas/Reuters/Ritzau Scanpix

Oil & Gas

Shell does not yet believe in ammonia as an alternative fuel

Oil giant Shell points to liquified natural gas as the suitable alternative fuel for shipping.

For subscribers

Ørsted becomes a 50/50 partner in a pipeline of offshore wind development projects off the Irish coast. | Foto: Ørsted

Renewables

Ørsted signs partnership on Irish offshore wind projects

Alongside ESB, the Danish utility will develop an Irish offshore wind portfolio.

On Monday, National Grid ESO spent GBP 9.4m on balancing power grid. | Foto: National Grid

Policy & Trading

Too much solar and win power proved costly for UK operator

On Monday, UK produced too much electricity without being able to turn off nuclear and gas supplies. Intervention was needed to handle system inertia.

For subscribers

Oil & Gas

Danish oil refinery posts major profit and augurs several large investments

Towering oil prices and maximum operational capacity have turned last year’s bleeding red figures into a major profit. The money is earmarked several large investments, says CEO.

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Oil & Gas

Equinor postpones oil project up to three years

Rising costs put one of Canada’s biggest oil projects on hold for up to three years.

For subscribers

As part of the deal, Inopower management team will stay on and will remain significant minority investors post completion. | Foto: Inopower/ Pr

Cleantech

UK equity fund buys Danish e-boiler company

Regulatory approval is only thing in-between Magnesium Capital’s acquisition of Inopower.

For subscribers

Fortum has signed yet another agreement as part of the company's two-years running nuclear power program. | Foto: Fortum

Utilities

Fortum strikes deal with Korean nuclear operator

The Finnish utility and Korea Hydro & Nuclear Power will collaborate on new nuclear facilities in the coming year.

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Renewables

Newly founded offshore wind carrier taps into Taiwan

Cyan Renewables will alongside a partner develop infrastructure and ship capacity to construct offshore wind in Taiwan.

For subscribers

Renewables

OX2 and Tuulialfa teams up on onshore wind farm in Lapland

The wind turbines are also to be installed in northern Ostrobothnia and other areas along northern Finland.

”I believe that what we see in the US and also a bit in Europe in different ways is that industrial policy from the side of the government is getting increasingly important," said Maersk CEO Vincent Clerc (left) in a discussion with Danish business minister Morten Bødskov on Danish Shipping's annual day. | Foto: Carsten Lundager

Policy & Trading

Vincent Clerc: Only state intervention can ensure the green transformation

Deregulation belonged to the 1990s – now it’s time for industrial policies along with state management of energy supplies and green transition efforts, says Maersk’s CEO.

For subscribers

Offshore wind turbines are at great risk to cyber attacks. | Foto: Marcus Emil Christensen

Renewables

Wind sector particularly vulnerable to cyber attacks

A rapid developing but fairly young sector makes it hard to protect offshore wind turbines in a world in want of engineers with the sufficient technical expertise.

For subscribers