Energy projects

The global energy buildout in renewables and oil and gas has spurred the heavy-transport partners to order two new carriers.

Oil and gas supply chains are in jeopardy as the government of Equatorial Guinea announces that it plans to nationalize a major port asset owned by Netherlands-based UAL Group.

Billions of dollars in federal funds are available to scale up innovative green energy projects, once would-be developers make it through the DOE’s loan qualification process.

Four EPC majors — Fluor, KBR, TechnipFMC and Worley — reported double-digit growth in order backlogs and say they are optimistic about continued revenue momentum into 2024.

Amid growth in US infrastructure spending, the heavy-haul transport segment is calling for better synchronization among state transportation departments when it comes to oversized transport requirements and permitting processes.

Multipurpose/heavy-lift carriers share concerns over the uncertainty caused by geopolitical events but see longer-term promise thanks to the slow-moving green energy boom.

Wind OEM earnings grew as the business environment improved and companies continued to work their way through low-margin projects that were booked before inflation and supply chain snarls hit the industry.

Hurdles slowing the US wind buildout are very real, and the Biden administration’s goal of 30 GW of offshore wind by 2030 appears increasingly unrealistic.

The MPV spot market is increasingly busy even as high interest rates and supply chain bottlenecks hold back capitol project execution, analysts and industry executives say.

Heavy-lift and semi-submersible owner/operator Harren Group is expanding its fleet with a mix of long-term charters and up to six newbuildings.

Existing wind-related manufacturing capacity in the US struggles to meet the local content requirements of the measure, frustrating would-be developers and pushing away some early investors.

The US offshore wind buildout will be a boon for Jones Act vessels in the long run, but current equipment shortages, high costs and the restrictive effects of cabotage laws are hampering initial construction.

Although carriers and project forwarders have seen lower wind volumes in some markets this year, the slowdown is bringing the US wind buildout to a more realistic level, stakeholders say.

While long-term optimism supports the MPV market, industry analysts see short-term divergence in time charter rate averages.

Fresh investments among oilfield services giants should bolster the offshore services market, with supply chain spending expected to grow 16% in 2023 and 2024.

The funding shortage for breakbulk port facilities will create severe constraints on both cargo owners and vessel operators as offshore wind construction accelerates and new types of energy projects are developed.

As US project cargo demand — and cargoes themselves — grow, heavy-haul trucking carriers are struggling with permitting delays, infrastructure complications and a rapidly aging workforce.

Multipurpose owners and operators are growing increasingly wary of the breakbulk market’s downward trend as cargoes remain hard to find and the wind energy market falters.

Meeting the Biden administration’s target of 30 gigawatts of offshore wind energy installed by 2030 will require floating offshore wind, which means building new, specialized port facilities to facilitate development in much deeper waters.

Toepfer’s multipurpose index has maintained its downward momentum due partly to a delay in the emergence of wind cargoes, while Drewry’s index showed some signs of life following a summer dip.

MPV newbuildings are being designed for higher cargo intake and improved efficiency, but any consensus on green fuels and propulsion systems remains elusive.

Beyond the supply chain snarls, permitting bottlenecks and high costs that are hampering offshore wind development generally, the Gulf is a less-than-ideal location for offshore wind compared with other parts of the US.

The wind energy industry must resolve a number of supply chain issues or it has little chance of reaching the US’ 2030 goal for energy generation from onshore and offshore wind.

The joint venture will increase Cosco’s fleet to 18 heavy-lift semi-submersible vessels by the end of 2023.

Expected demand for wind cargo, among other factors, is still driving underlying optimism in the MPV sector, but a wind turbine tech “arms race” could cast a long shadow.

The merger of wind installation vessel operators Cadeler and Eneti, which already have a combined project backlog worth $1.75 billion, was driven by an expected surge in offshore wind farm projects through 2030, Cadeler CEO Mikkel Gleerup told a webinar Friday.

The deal made by the carrier highlights the challenges of securing the supply of green methanol from a global market that is in its infancy.

Changes at Maersk and Combi-Lift reveal interest in capturing a larger share of the project forwarding market.

Vineyard Wind is one of the first commercial-scale offshore wind projects under construction in the US and at completion will generate some 800 megawatts of power.

The drive to decarbonize European inland transport by switching freight from the road to greener alternatives took a step forward this week.

Quarterly earnings reports reveal that wind turbine manufacturers are slowly recovering from a pandemic market battering as orders and revenues ramp up.

As funding opportunities expand, energy security concerns force investors to reevaluate their priorities, attendees at the Journal of Commerce’s Breakbulk and Project Cargo Conference were told.

Despite a temporary lull, heavy-deck carriers and industry analysts see a “mind-boggling” outlook for global offshore wind demand.

EPC projects drive much of the global demand for project and breakbulk logistics services from carriers, forwarders, and other suppliers.

Even as breakbulk volumes ebb from their pandemic highs, several mega-projects planned for South Louisiana are expected to keep project cargo moving at the Port of New Orleans.

The acquisition of Avondale by the port comes just as the state of Louisiana readies to auction its first round of offshore wind leases.

Project and breakbulk carriers and logistics service providers have a healthy to-do list of energy-related cargo projects ahead of them; now the question is whether rates and availability will return to pre-pandemic levels.

Danish power company Ørsted says policymakers must provide a regulatory environment that allows companies to commit to the huge investment required in developing shipping’s fuel of the future.

Ambitious plans to build offshore wind off the coast of the United States has run up against permitting bottlenecks and a lack of investment.

Two years of pandemic-related oil and gas project delays and cutbacks in global supply due to the Russia-Ukraine war are driving demand for project logistics services in the short and long term.