The drivers for global offshore wind growth look good for 2023. Global offshore wind is forecast to grow from over 60 GW at the end of 2022 to 240 GW by 2030 and over 410 GW by 2035. But the sunny outlook must be balanced with some building dark clouds.
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Black Sea Shipping Rates Soar 20% as Reinsurers Cut Cover
Costs for hiring ships to transport commodities from the Black Sea have risen by more than a fifth since the start of the year, reflecting higher war risk insurance rates, industry sources said.The Black Sea is crucial for the shipment of grain, oil an...
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NYK President Nagasawa Outlines Challenges, Priorities in 2023
In his annual New Years' address to employees, NYK President Hitoshi Nagasawa warned that while markets, particularly the containershipping market, will be more challenging in 2023 compared to the past two years, overall the group has "long anticipated...
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Venezuela’s Oil Exports Fall in Spite of Iranian Assist
Venezuela's oil exports last year declined due to infrastructure outages, U.S. sanctions and rising competition in its key Asia market despite assistance from ally Iran, according to shipping data and documents.Exports this year are expected…
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Diesel Consumption to Fall with US Manufacturing Downturn
U.S. manufacturers reported business activity declined for the second month running in December and the sector appears to be on the leading edge of a recession. The slowdown in manufacturing and freight has already dampened consumption of diesel and ot...
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Germany’s HHLA, China’s Cosco Close on Hamburg Port Deal
German logistics firm HHLA and Cosco are close to finalizing an agreement for the Chinese shipping giant to take a stake in a terminal at Hamburg's port, HHLA said on Friday."We can confirm that...
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China Eases Australian Coal Ban
The increasing need to secure energy supplies after easing COVID-19 restrictions has pushed China to gradually resume Australian coal imports and urge domestic miners to boost their already record output.The lifting of the unofficial ban on Australian ...
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US Warship Sails Through Sensitive Taiwan Strait; China Angered
A U.S. warship sailed through the sensitive Taiwan Strait on Thursday, part of what the U.S. military calls routine activity but which has riled China.In recent years, U.S. warships, and on occasion those from allied nations such as Britain and Canada…
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What’s in Store for US Offshore Wind?
January brings with it the expectation that the United States' first commercial wind farm in federal waters will start generating power by year end, the promise that permitting for close to 5 gigawatts (GW) of projects will be finalized within…
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Lack of Dredging Could Delay Chevron’s Venezuela Oil Exports
A shipping channel snafu is slowing Chevron Corp’s efforts to load tankers at one of its four Venezuelan joint ventures and bring heavy crude to the United States, three people familiar with the matter said on Wednesday.Washington in November authorize...
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