Rovco spin-off raises $20M for globalization and expansion plans

Vaarst, tech spin-off of subsea player Rovco, has raised $20 million in investments to fund its global expansion plans and drive next-generation technology adoption in marine industries. The investment is the first in the company’s Series B round and will … Read More

Offshore wind, hydrogen part of Shell’s £25 billion UK investment plan

Shell plans to invest up to £25 billion (approximately €30 billion) in the UK energy system over the next ten years, with offshore wind being one of the main areas the oil and gas giant has set its sights on … Read More

UK port investment surpasses £1B mark in 2021

UK port investment topped £1 billion (around $1.3 billion) in 2021 despite continuing pandemic volatility, new research published by the British Ports Association (BPA) shows. Image Courtesy: Port of Tyne/BPA The figures have been released alongside BPA analysis of new trade … Read More

UK to invest £20 million per year in tidal energy in ‘game-changing’ move for the sector

The UK government will invest £20 million per year in tidal stream electricity as part of its flagship renewable energy auction scheme, kickstarting a brand-new chapter for the marine energy industry. Illustration/SIMEC Atlantis’ tidal energy turbine (Courtesy of SIMEC Atlantis) … Read More

India needs to step up investment in its shipping sector

India continues to have a smaller share in the international shipping sector and has been forced to become a net importer of shipping services especially ship finance, a new report shows. This is despite the fact that the country has … Read More

Embracing sustainability, US gov’t makes ‘biggest ever’ investment in ports

The Biden-Harris Administration has passed new legislation as part of which billions of dollars will be invested in US port infrastructure and waterways. Premium content Checking for account. You need javascript to validate your login status. Premium Premium content Subscribe … Read More

All ferries between three Baltic Sea ports to connect to onshore power

Three Baltic Sea ports in Stockholm, Helsinki and Tallinn have each invested in onshore power electricity connections to reduce the emission of air pollutants from vessels at the quayside. In collaboration to agree on standards and solutions, the three Baltic … Read More

UK earmarks hundreds of millions for offshore wind, green hydrogen investment

The UK government has announced GBP 380 million (around €450 million) of investment in offshore wind in its Autumn Budget and Spending Review. Up to GBP 230 million (around €272.5 million) of this will be available from GBP 1.4 billion … Read More

CMA CGM, AD Ports to build new terminal at Khalifa Port

French container shipping major CMA CGM and the UAE-based port operator Abu Dhabi Ports (AD Ports) have signed a 35-year concession agreement to develop a new terminal in Abu Dhabi. Under the deal, the new terminal will be established at … Read More

Oneka scores multi-million investment in wave-powered desalination system

Canadian company Oneka Technologies has closed a Ca$5.5 million ($4.4 million) financing round, bringing in Innovacorp, Baruch Future Ventures and MANN+HUMMEL as its latest partners. Oneka Technologies’ wave-powered desalination buoy (Courtesy of Oneka Technologies) The financing round was led by … Read More