The opportunities of multi-contracting but the challenges it presents
We have recently seen a number of US developers making the decision to proactively pursue a multi-contracting route. This strategy has been driven by a desire for better visibility on both risk and costs than that offered by the more traditional option of single sourcing Engineering, Procurement, Construction and Installation (EPCI), which results in paying a premium for others to take on most of a project’s risk.
Offshore carbon storage: Europe leads the way, but will Asia soon catch up?
While Europe is currently the front-runner in terms of offshore carbon storage, significant developments in other parts of the globe could potentially change this in coming years. In this article, we compare offshore carbon storage developments across Europe with those occurring in Asia Pacific.
Clarkson Port Services acquires offshore renewable energy service provider, DHSS
The acquisition of DHSS will provide a step change in Clarkson Port Services offering, delivering significant added value to existing clients and presenting enhanced growth opportunities through the ability to tender for larger offshore renewables contracts internationally.
Clarksons ramps up investment in US wind team
Global Offshore specialist Clarksons Offshore & Renewables is bolstering its presence in the US wind market in a bid to attract more investment in the development of offshore wind vessels in the US market and support the expansion of the offshore wind market.
First official UK carbon storage application round closes
To date, only six CO₂ storage sites in the UK have had licences granted, however none of them are currently being used for storage. Given the exponential growth in the number of companies looking to enter the CCS sector, storage is becoming increasingly important, and this heightened demand has triggered growing momentum to not only use existing sites, but also create additional new areas.
Offshore Wind Newbuilds has an exciting road head....
In this article, Vegard Vollsæter, Divisional Director | Newbuilding, shares an overview of Offshore Wind Newbuilds and a look ahead to 2023 and beyond.
Ammonia and the cuckoo in the nest
At first glance, it appears that ammonia should be enjoying its moment in the spotlight: new production projects are being announced on a regular basis and there is continued strong demand as well as high prices. Plus, the shift towards cleaner production techniques and ‘greener ammonia’ is well underway. Indeed, it is widely acknowledged that ammonia holds a potentially significant position in the drive towards decarbonisation.
In our 2022 review, we profile another remarkable year for the shipping industry, with a record breaking ClarkSea Index (up 30% y-o-y) and a maritime sector again managing wide ranging disruption from global events including the onset of the Ukraine conflict, continued impacts from the pandemic, a slowing world economy and divergent trends across the shipping sectors.
What will increased UK carbon storage mean for shipping markets?
UK storage remains relatively underdeveloped at present, with just six UK sites that have had licences granted to date. But all that looks set to change as the number of companies looking to enter the Carbon Capture and Storage (CCS) sector has grown exponentially. Given that storage is the starting place for all CCS projects (no storage, no project!), we are starting to see the development of UK carbon storage facilities that would underpin the region’s ability to cater for an extensive storage infrastructure.
UK carbon storage ambitions ramp up
While a significant amount of work has been put into developing Carbon Capture and Storage (CCS) projects, including Northern Endurance, Acorn, Hynet and South Wales Cluster, UK storage itself remains relatively underdeveloped. This, however, all looks likely to change. Given the exponential growth in the number of companies looking to enter the CCS sector, storage is becoming ever more crucial. After all, no storage – no project!
Fleet electrification to increase as marine battery technology becomes commercially viable
Of the more than 400,000 commercial vessels around the world today, approximately 575 of these are electric and hybrid currently. However, this all looks set to change with sector specialists predicting we will see the number of electric and hybrid vessels increase dramatically in the next few years.
Carbon Capture and Storage (CCS): What are the shipping requirements?
While data is partly incomplete and occasionally inconsistent, estimates indicate we are emitting over 35 billion mt of CO₂ each year. Currently we are storing only around 0.1 per cent of that, but as decarbonisation grows in importance, so too does the need for comprehensive CCS solutions. In this article, we take a snapshot of existing CCS projects and look at the related shipping solutions required.
Charity Giving Day 2022
This year, the annual Clarksons PLC global Charity Giving Day event raised over £250,000 for The Clarkson Foundation - an incredible amount to help some inspirational charities. The action packed day saw eight global offices take part and generously donate towards the cause.
Alternative fuels challenge the sustainability of maritime decarbonisation
It is undisputable that we need to drive a lower carbon future. Kenneth Tveter, Head of Clarksons Green Transition team provides his thoughts on how the industry can best achieve this with the resources we have at hand.
Dry Cargo Shipping Diploma 2022: Welcome back!
The aim of the Dry Cargo Shipping Diploma (DCSD) is to deliver a comprehensive understanding of the global dry cargo shipping industry covering commercial, legal, financial, regulatory, operational and technical aspects.
How Clarksons helps offshore wind developers to understand the local marketplace
Achieving your objectives within the global offshore wind market requires a locally focused lens.
Strengthening the bridge between academia and industry
Clarksons was once again pleased to host the Maritime Masters finalist event to both online and in-person delegates, for the fourth year running.
Carbon Capture and Storage (CCS): The scale of the challenge
In this article we examine the macro aspects of CO₂, taking a reality check on the scale of carbon emissions, the potential to deal with them, and permanent storage solutions. While global data regarding CO₂ emissions is partly incomplete, and occasionally inconsistent, the estimated figures used in this article provide a valuable, general guide to scale.
Clarksons' enhances its sustainability offering
Clarksons’ Carbon Broking team is pleased to announce its new partnership with CarbonChain.
Inspired by the love of water - Clarksons’ Sophie Wilson interviewed for Insight Energy Magazine
Sophie Wilson, Business Development Manager in our Port Services division, has been featured in a recent article in Insight Energy Magazine. Sophie was interviewed for an article titled ‘Women carve careers inspired by their love of water’.
WindEnergy Hamburg 2022 - Bigger and Better
WindEnergy was back last week bigger and better than before, with post-pandemic record numbers visiting Hamburg for the conference. With all the great news floating around there are always going to be undertones which can’t be ignored, and these did surface in many of the conversations being held.
Behind the drivers of the growing momentum in Green Ammonia
Demand for ammonia is continuing to grow, driven by a combination of traditional demand and a widely recognised need to reduce carbon emissions. But what are the drivers behind this growth, and do they stand up to scrutiny? In this article, we assess some of the sector’s ongoing opportunities and challenges in order to better understand the potential of the ammonia market.
Clarksons partners with Signol to help shipowners make measurable fuel & CO2 savings
Clarksons partners with Signol to help shipowners make measurable fuel and CO2 savings.
Construction Support Offshore Vessel (CSOV) Market Update
Now is the time to look ahead at the Construction Support Offshore Vessel (CSOV) market for 2023. The expected amount of CSOVs required until 2030 based on the current projected offshore windfarms is high.
Green Ammonia: As doubters voice safety concerns, is the sector listening?
The case for ammonia as a marine fuel continues to gain momentum. With support growing, shipowners, producers, traders, engine designers and shipbuilders alike are increasing their efforts to study, design and evaluate ammonia as a future propellant for many types of vessels.
Snapshot: Today’s green ammonia market
In this article we take a snapshot of the current green ammonia market, looking at some of the ongoing issues affecting the sector.
Clarksons opens new Specialised Products desk in Tokyo
Clarksons is pleased to announce the opening of a new Specialised Products desk in Tokyo, welcoming Makoto Komatsu to the team.
Q3-22 and beyond: What does the future look like for green ammonia?
We previously reported on the surge in publicity related to green ammonia and predictions of significant growth in the ammonia market generally. In this article we examine how realistic these expectations are and share some recent market movements which could prove important going forward.
Liquid CO₂ carriage by sea: Market movements
Ship design for CO₂ carriage is evolving rapidly with yards exploring various ship sizes and different pressure/ temperature capabilities. In this article we examine recent market movements for liquid CO₂ carriage and look ahead at what we might expect as the market matures.
Offshore wind vessel and project news
A weekly update from the Renewables team covering Offshore wind vessels and project news in this space.
How green is green ammonia?
Japan recently announced ambitious plans to import 3m tons of green ammonia by 2025 and 30 million tons by 2030 for power generation. And analysts are currently predicting an even more significant surge in demand if ammonia is proven to be a viable alternative for marine propulsion. While the drive to reduce carbon emissions with green ammonia is undoubtedly a step in the right direction, it is important to note that the associated production processes and use of ammonia as a marine fuel will not come without issues.
Evolving the Clarksons brand
Shipping is evolving and becoming increasingly complex, so it is more important than ever to speak to our clients and stakeholders in a way that matters to them.
Green Ammonia: A twist in the tale
Russia's recent invasion of Ukraine could permanently change the shape of the ammonia market going forward. In this article, we examine the impact of the ongoing conflict on ammonia markets – both in the short and longer-term.
2022: Shipping's half year report
Clarksons Research have released their half year statistics on to Shipping Intelligence Network. After the resilience and then strong recovery of recent years, it has been another exceptional half year for shipping with our cross-segment ClarkSea* for shipping cargo transportation averaging $38,844/day, up 7% on 2H 2021 and 157% on the 10-yr average.
Clarksons Securities makes bold predictions for tanker rates in 2023 and beyond
The Clarksons Securities shipping team has made a bold prediction of further increases in tanker rates during 2023.
Liquid CO2 carriage by sea: An introduction
As awareness grows about the harmful effects of carbon emissions, we have seen a surge in demand for knowledge about how to carry CO₂ on seagoing vessels, in bulk. This article provides an overview of the challenges and opportunities involved.