Maersk Drilling's share price has, so far, nearly doubled in 2021 after it almost bottomed out in 2020, a year that pressured the already strained drilling industry. Low debt positions the company better than its competitors, said chairman Claus Hemmingsen during the company's general assembly Thursday.
BY ASTRID STURLASON, SHIPPINGWATCH
The hard-pressed drilling sector did not have an easy 2020, during which both the coronavirus crisis and oil price collapse of affected the market.
EU must introduce requirements for local production in the wind industry, says Jupiter Bach’s CEO. Otherwise, Europe will lose production and the knowledge needed to regain its footing.
A manufacturing presence in North America is crucial, says the CEO on the return to the US, where the aim is 2.5GW per year using both Germany’s largest turbine and an as yet unknown product.
Under the new management, Jupiter Bach has transformed the business from huge losses to a profit. However, the chief executive admits that coincidence has played a significant part.
Norlys Energy Trading is currently investing in growth, but competition for the best people has never been so intense, says the head of the energy trading company.
In the midst of an arbitration case with back-and-forth claims over a record-breaking turbine order, an Indian project developer now sues Siemens Energy to prevent the manufacturer’s departure.
EU must introduce requirements for local production in the wind industry, says Jupiter Bach’s CEO. Otherwise, Europe will lose production and the knowledge needed to regain its footing.
The political trend towards marginalizing China is dangerous, says Siemens Energy’s hydrogen chief, who is confident about the German company’s abilities despite the much cheaper Chinese plants.