Photo of the Johan Castberg FPSO courtesy Equinor

The massive Johan Castberg FPSO is getting ready to sail

The Johan Castberg oil field exploration ship is preparing to set sail for the Barents Sea, marking a significant step in Norway’s oil extraction efforts in the Arctic. Equinor CEO, Anders Opedal, views this development as a gateway to new oil discoveries and increased production capacity. Despite criticism, Norway remains committed to expanding its energy resources from the Arctic region.

Continue reading
Marshall Islands-flagged oil tanker Advantage Sweet, which, according to Refinitiv ship tracking data, is a Suezmax crude tanker which had been chartered by oil major Chevron and had last docked in Kuwait, sails at Marmara sea near Istanbul, Turkey January 10, 2023. REUTERS/Yoruk Isik

Insurance companies reject Chevron’s lawsuit over Iran’s oil seizure in Gulf of Oman

Three insurance companies reject Chevron’s lawsuit over Iran seizing an oil shipment. The tanker was boarded by the Iranian military in the Gulf of Oman, resulting in the confiscation of the crude oil. Chevron’s $57 million lawsuit was dismissed by Zurich American Insurance, Liberty Mutual Insurance, and Great American Insurance.

Continue reading

Significant Progress in Reducing Methane Emissions in Maritime Industry

Researchers are making strides in reducing methane slip emissions in the maritime industry. The Methane Abatement in Maritime Innovation Initiative (MAMII) announced promising results from technology feasibility studies by four companies. These studies showed strong potential to cut methane emissions and convert methane into alternatives for economic efficiency.

Continue reading

Ocean Power Technologies Demonstrates AI-Powered Maritime Domain Awareness Solution with PowerBuoy

Marine power company Ocean Power Technologies completed offshore demonstrations for its AI capable Maritime Domain Awareness Solution, Merrows, using the next generation PowerBuoy. The demonstrations showcased the Intelligence, surveillance, and reconnaissance capabilities, accelerating the sales cycle. CEO Philipp Stratmann highlighted the advanced algorithms of Merrows, aiding in revenue growth.

Continue reading
The Fortescue Green Pioneer pictured in the Port of Singapore. Photo courtesy Fortescue

Completion of propulsion trials in Singapore for ship powered by ammonia

Australian metals company Fortescue has completed propulsion and maneuverability trials of its ammonia-powered vessel, the Fortescue Green Pioneer, in collaboration with the Maritime and Port Authority of Singapore. The trials included testing various marine fuels like liquid ammonia, diesel, and hydrogenated vegetable oil. The vessel aims to raise awareness for the global shipping industry to adopt green ammonia solutions.

Continue reading
Advertisements