Shipping needs to invest heavily to switch to carbon-neutral fuels

According to a forecast released by the classification society DNV reports, the shipping industry will need massive onboard technology investments ranging between $8 to $28 billion per year between 2022 and 2050 to reach full net-zero goals. DNV released its sixth maritime forecast during SMM, an international maritime trade fair in Hamburg, Germany, urging cross-industry

Statkraft and H2Carrier agree to study green ammonia production

Statkraft has entered into a memorandum of understanding with compatriot firm H2Carrier to study the possible use of green ammonia floating production vessels at certain offshore wind locations. Based on proven floating production storage and offloading (FPSO) technologies, H2Carrier’s concept, called P2XFloater, uses renewable wind, solar or hydro energy to produce green hydrogen by pumping

DSME and Samsung add $2.6 bn LNG carriers

Daewoo Shipbuilding & Marine Engineering Co. (DSME) and Samsung Heavy Industries Co. each added 2.37 trillion won ($1.7 billion) and 1.17 trillion won worth contracts to their swelling order book for liquefied natural gas (LNG) carriers, upping the chance of South Korean shipbuilders reclaiming No. 1 rank in global vessel orders this month after losing

DSME delivers second shuttle tanker to Knutsen NYK

A dual-fuel LNG shuttle tanker1 ordered by Knutsen NYK Offshore Tankers AS,2 which is an affiliate of NYK, was delivered at Daewoo Shipbuilding & Marine Engineering Co. Ltd. The vessel has been named “Sindre Knutsen.” Like its sister ship “Frida Knutsen,” which was delivered on 2 August, this vessel will be a dual-fuel shuttle tanker

Ohmium to collaborate with Shell India for green hydrogen

Ohmium International has announced it will collaborate with Shell India to evaluate hydrogen applications, markets, and project opportunities in India and globally. As part of the collaboration, both parties have intent to launch joint working groups to assess opportunities from technical, commercial and safety perspectives.   The collaboration is positioned at further elevating the oil company’s

Production of ammonia at OQ plant begins

OQ starts of production of the ammonia project in the Governorate of Dhofar in Oman. This ammonia plant is one of the key strategic projects fully owned by OQ with an investment of $463 million and has a designed capacity of 1,000 metric tonnes per day (MTPD) of ammonia. OQ Trading, the Group’s trading arm

Jakson Green to foray into green hydrogen projects

Energy and infrastructure company Jakson Group is planning to build green hydrogen projects across West Asia and North Africa. The overseas green hydrogen projects will be driven by the group’s clean energy arm, Jakson Green Pvt. Ltd. “The intension is not only to look for solar EPC (engineering, procurement and construction) projects, but also for

COSCO and China Merchants exploring methanol fueled ships

China explores methanol shipping COSCO and Dalian developed the designs for China’s first domestic VLCC fueled with methanol (COSCO). Methanol is continuing to gain momentum as a leading option for the shipping industry to address decarbonization. Already adopted by an emerging group of shipping lines, two of China’s leading shipping companies are joining the effort

First ethanol plant in Chhattisgarh to be constructed in Kabirdham district

Chhattisgarh’s first ethanol plant will be constructed near Bhoramdev Cooperative Sugar Factory in Kabirdham district. The district administration has identified 35 acres of vacant land adjacent to the factory for setting up the plant. The Chhattisgarh government has decided to involve private players for financial and technical participation in the project to strengthen the state’s

Uniper enters into LNG deal with Woodside trading unit

German utility Uniper SE signed a long-term deal with Woodside Energy Group Ltd. to bring in more cargoes of liquefied natural gas to energy-starved Europe. The deal between Uniper and Woodside equates to 1 billion cubic meters of gas per year. That’s about a month of Russian supplies through Nord Stream at the curtailed levels