The Norwegian oil company has set a new strategy with two incremental goals on its route to achieving net-zero emissions by mid-century. Half the group's investment from 2030 will be spent on green projects.
Aker Offshore Wind makes joint bid with oil supermajor BP and energy company Statkraft in tender for bottom-fixed offshore area Sørlige Nordsjø II. The consortium is looking at both hybrid projects and electrification of oil platforms.
Semco Maritime, a specialist in technical installations on drilling rigs and offshore wind farms, is opening an office in Poland, eyeing a potentially lucrative business opportunity in offshore wind development.
The demand for oil is low as a result of the Covid-19 crisis, and so are the freight rates for oil tankers. This spring, rates were up to four times lower than in the first five months of 2020, according to an analysis from Bimco. IEA expects demand to normalize in 2023.
Although owners of offshore support vessels expect increasing demand, numerous challenges loom. Just over half of the global fleet is in operation the first quarter of 2021, according to a new analysis.
Five pension companies voted, much like the majority of Shell's shareholders, to approve the oil company's climate plan shortly before a Dutch ruling rejected it. The burden of proof is now on oil companies that have to show that they are on the right side of the Paris Agreement, according to Danish pension provider PFA.
Dof has obtained deferral of loan installments and interest payments from its creditors. The previous deferral agreement expired on May 31, and Dof came out of the first quarter this year with a loss of around USD 97 million.
Norwegian offshore carrier Siem Offshore sees progress in the revenue and bottom line in the first quarter. The company expects increasing demand in the coming quarters, although it is too early to predict a solid upturn.
Shell must reduce harmful emissions by 45 percent before the end of this decade. The claim from a Dutch court is significantly higher than the target set by Shell for 2030. The company plans to appeal the decision.
Construction and servicing of future offshore wind farms with very large turbines are obvious tasks for Norwegian companies with decades of experience in oil and gas, say several industry players. However, the tasks place great demands on ships.
Offshore operator Dof exits the first quarter with a deficit of NOK 804 million. As a result of a weak market and substantial debt-related costs, Dof is dependent on the goodwill of its creditors until a potential restructuring of its falls into place.
Offshore and wind carrier Esvagt has now been under the ownership of two private equity firms for six years. This ownership will not last indefinitely, CEO says to ShippingWatch. June is set to bring the first contracts on the US offshore wind market.