Venture News

U.S. liquefied natural gas developers awaiting permits for new export projects this week expressed confidence President-elect Donald Trump will ease the way for their multi-billion-dollar expansion plans.Their confidence is buoyed by Trump's promise to end an expanded Department of Energy review that has slowed new export permits. President Joe Biden had paused new non-FTA export permits and asked the DOE to more broadly evaluate the cumulative effects of new LNG projects' climate…

Federal regulators on Wednesday gave Venture Global LNG permission to introduce natural gas into its Plaquemines export plant in Louisiana, documents show, moving the plant a step closer to producing the superchilled gas.The 20 million metric tons per annum (MTPA) Plaquemines LNG plant will be the second-largest U.S. export facility when fully operational. It and other projects due to start next year will help the United States retain its position as the world's largest exporter of the gas.Its commercial startup will make Venture Global the second-largest U.S.

ADNOC Logistics & Services signed contracts worth $4.4 billion to build 23 supertankers for ethane, ammonia and liquefied natural gas, the UAE's state news agency reported on Thursday.ADNOC's CEO Abdulkareem Al Masabi said the company through its AW Shipping joint venture awarded contracts worth $1.9 billion to build nine Very Large Ethane Carriers (VLECs) and four Very Large Ammonia Carriers (VLACs) with Jiangnan Shipyard in China.ADNOC L&S also signed contracts worth $2.5 billion with Korea’s Samsung Heavy Industries and Hanwha Ocean to build up to 10 LNG carriers…

MarineNews Editor Joseph Keefe weighs in with a look at the previous five years on the waterfront. It’s not what you think.You might be aware that I stepped away for a moment in late December 2019. The five years that followed, whizzed right by – well, all but that miserable part of being virtually locked in my house for six months during “the Pandemic.” Enough said. Now back in the Editor’s chair here at MarineNews magazine, it is apparent that while some things on the collective waterfront have changed…

Driven by a “massive step change in offshore wind turbine technology” premised on growth of the per unit size and output, Menck – an Acteon brand – last month unveiled what it touts as a “game-changing” MHU 6000W Wind Hammer, the largest hammer in its repertoire and a continuing a legacy of innovation since 1868 from this north Germany industrial company.We recently visited with Fabian Hippe, Marine Foundations Sales Director, Acteon, for a discussion on the new pile driving unit and the markets it will serve.

As global offshore markets evolve to create a more sustainable future, rising up to meet these challenges is Sweden-based Northern Offshore Services. Offshore engineers won’t be the only beneficiary – but they might be the most important. In August, Northern Offshore Services (N-O-S) unveiled its unique I-Class Crew Transfer Vessel (CTV), powered by the first commercial application of Volvo Penta’s IPS Professional Platform. In the cutting-edge IMPRESSER, N-O-S designed a flexible…

EDGE and Fincantieri have signed a memorandum of understanding (MoU) to collaborate on the design, development, and creation of advanced manned and unmanned underwater systems solution capability through their recently launched UAE-based shipbuilding joint venture MAESTRAL.The preliminary agreement will pave the way and boost for developing sophisticated solutions tailored to the unique underwater needs of navies worldwide.The collaboration marks EDGE’s first venture into underwater domain…

GE Vernova will remove some turbine blades installed at the Vineyard Wind offshore wind farm off the coast of Massachusetts following quality checks prompted by the failure of a blade in July, the company said on Wednesday.Progress on the still-unfinished project is being closely watched since it was barred from producing power or completing construction after a turbine blade broke and sent debris into the water that washed up on nearby beaches during the peak summer tourist season.The blade saga has been a blow to the nation's budding offshore wind industry…

Private equity firm Carlyle has dropped out of a bidding process for the warship division of stricken conglomerate Thyssenkrupp, the German company said on Tuesday.Carlyle's withdrawal as a suitor for Thyssenkrupp Marine Systems (TKMS) is a major blow to Thyssenkrupp's restructuring, which also includes plans for a 50:50 steel joint venture with Czech billionaire Daniel Kretinsky."We can confirm that the investment company Carlyle Group has informed us that it is withdrawing from the bidding process for the investment in Thyssenkrupp's marine division," Thyssenkrupp said in a response to email

GTT, the technology expert in membrane containment systems for the transport and storage of liquefied gases, has signed a service contract with Coral FLNG for Eni-operated Coral Sul FLNG unit.Under the agreement, GTT will provide technical support services to ensure the efficient operation and maintenance of the LNG storage tanks on board of the Coral Sul FLNG.These services include on-site and remote technical assistance, on-site testing, inspection, emergency assistance, engineering…

Wärtsilä Gas Solutions, part of technology group Wärtsilä, has been contracted to supply the cargo handling and fuel gas supply systems for six newbuild medium-sized gas carrier (MGC) vessels.The new vessels are built at the Jiangsu Yangzi-Mitsui (YAMIC) Shipbuilding yard in China for a Japanese shipowner.The YAMIC yard is a joint venture between Yangzijiang Shipbuilding Group and Mitsui E&S Shipbuilding.The Wärtsilä equipment is scheduled for delivery to the yard commencing in…

Ports of Indiana has introduced a new venture called Indiana River & Rail Terminals, creating the largest general cargo operation along the Ohio River. This initiative will oversee all general cargo facilities at the Jeffersonville and Mount Vernon ports, encompassing six docks, six warehouses, and several rail transload facilities. It will also provide logistics services to over 40 clients across the extensive 2,200 acres of port land.Positioned within the greater Louisville and Evansville metropolitan areas…

ICTSI has officially opened its East Java Multipurpose Terminal (EJMT) in Lamongan Regency, Indonesia.The terminal has a 300-meter quay line, deep water draft of 13.5 meters (LAT), a 500-meter swinging basin and handling equipment for bulk, project and containerized cargo. It also has two of the largest post-Panamax mobile harbor cranes in East Java.Situated in Lamongan Regency 60 kilometers west of Surabaya City, the multipurpose facility sits within the 80-hectare Lamongan Shorebase complex…

The first commercial application of Volvo Penta’s IPS Professional Platform will power Northern Offshore Services’ next-gen crew transfer vessel. Longtime collaborators Volvo Penta and N-O-S aim to more than satisfy the unique requirements of a possible 25x increase in offshore wind production.Upon arrival in Gothenburg, an observant visitor quickly realizes that Sweden is one of the cleanest places on earth. Epitomizing that lofty standard are two marine industry heavyweights…

Esgian highlights several new contracts in its Week 39 Rig Analytics Market Roundup.Report SummaryContractsMarket sources indicate that ADNOC has exercised an extension option for the 350-ft jackup drilling rig Aryabhatt 1 in Abu Dhabi.Petrobras has awarded two floating rig contracts to Constellation Oil Services for work at the Roncador field in the Campos Basin offshore Brazil. Valued at $1 billion, the two contracts will see Constellation 10,000-ft drillship Laguna Star and Hanwha Drilling 12,000-ft newbuild Tidal Action operate for Petrobras for around 2.5 years.

Italian shipbuilder Fincantieri on Tuesday held a steel cutting ceremony marking the start of construction on the first of four next-generation Offshore Patrol Vessels (OPV) for the Italian Navy.The four new ships will be built at Fincantieri's Riva Trigoso shipyard in Genoa for scheduled delivery from 2027 onward. The contract also includes options for two additional vessels.The overall value of the first four ships, contracted by Orizzonte Sistemi Navali (OSN), a joint venture owned by Fincantieri (51%) and Leonardo (49%)…

Donegal, Ireland-based Seabound Engineering has been awarded a contract to build a new vessel for one of the largest mussel farming companies in the U.K.The 25-meter mussel harvester, designed by Rockabill Marine Design (RMD), is expected to be delivered by June 2026.“We are proud to collaborate with a major U.K. mussel producer and bring Rockabill Marine Design’s vision to life,” said Thomas Havlin, Managing Director of Seabound Engineering. “This is an exciting opportunity for Seabound…

Van Oord has successfully completed the construction of the floating storage and regasification unit (FSRU) jetty at Wilhelmshaven in Germany for its client Deutsche Energy Terminal (DET).The project was managed by FSRU Wilhelmshaven, a joint venture between ENGIE and TES. By leveraging its experience in dredging, infrastructure and offshore energy, the client and Van Oord developed a tailor-made integrated solution for the project.In order to expedite the process, monopiles, mainly used for offshore wind turbines…

Danish offshore wind installation firm Cadeler has signed contracts with Equinor and Polenergia for the installation of turbines at 1440 MW Bałtyk 2 and Bałtyk 3 offshore wind farms in the Polish Baltic Sea.The total potential value of these contracts to Cadeler is expected to be in the range of $134-162 million (€120-144 million), with operations scheduled to begin in 2027.Bałtyk 2 and Bałtyk 3 offshore wind farms, both being joint venture projects owned 50% by Equinor and 50% by Polenergia…

Pangaea Logistics Solutions Ltd., announced a definitive agreement to purchase the remaining 50% equity ownership of its consolidated subsidiary, Nordic Bulk Partners LLC, from HS Nordic LLC, for $17.2 million in cash.The deal is expected to be completed by November 1, 2024. It will see Pangea own 100% of the equity in Nordic Bulk Partners, a joint venture established in 2019 to construct four Ice Class 1A Post-Panamax dry bulk vessels.The terms of the agreement include ownership put and call provisions, which have been negotiated and exercised a year earlier than originally stipulated.

Amidst sensational headlines and questionable policy decisions from Washington, D.C., the U.S. offshore energy sector stands resilient. This vital industry not only powers our nation with reliable energy but also enables hundreds of thousands of jobs across all 50 states and strengthens national security. From the Gulf of Mexico to the burgeoning offshore wind farms along the East Coast, the resilience and innovation of this sector are critical to driving economic growth and ensuring our nation’s energy security.The Gulf of Mexico has long been a cornerstone of U.S.

ABS issued an approval in principle (AIP) to leading Japanese companies at Gastech 2024 for two liquid carbon dioxide (LCO2) carrier designs with Type-C cargo tanks that do not require performing post-weld-heat-treatment based on the demonstration of an engineering critical assessment.ABS reviewed the drawings based on class and statutory requirements for the two designs, a 50K cubic meter carrier and a 23K cubic meter carrier, featuring Type-C cylindrical tanks made of carbon…

AW Shipping, a joint venture between ADNOC L&S and Wanhua Chemical Group, has awarded contracts worth $250 million to China’s Jiangnan Shipyard for two additional Very Large Ammonia Carriers (VLACs).The VLACs each have a carrying capacity of 93,000 cubic meters of ammonia, making them among the largest ammonia carriers in the world.Scheduled to be delivered between 2027 and 2028, the vessels will be equipped with energy-efficient dual-fuel engines capable of operating on liquefied petroleum gas or conventional fuels.