Funding

Swiss bank stops investing on offshore Arctic projects

According to Reuters, the Swiss UBS Bank decided to stop providing its support concerning drilling in the Arctic. In fact, the bank will stop funding future offshore oil and gas projects located in Alaska, amid efforts to face climate change.

Europe launches DataPorts project for digital ports of the future

The European Commission has launched DataPorts project, aimed to boost the transition of European seaports “from connected and digital to smart and cognitive”, in order to create an even more trusted, reliable and efficient way of conducting businesses in Europe.

AAPA granted over $5,8 million under ‘Closing the Skills Gap’ program

The US Department of Labor has chosen the American Association of Port Authorities (AAPA) for a grant of $5,888,738, under the Apprenticeship: Closing the Skills Gap grant program. This is expected to help AAPA to expand leadership within maritime community regarding professional development and training.

Iran allocates over $857 million for maritime reform plan

Iran’s Ports and Maritime Organization (PMO) has allocated 36 trillion rials (=$857.2 million) of its budget resources for a program to develop the country’s maritime industry, including the construction of 83 vessels, the head of PMO informed. 

CIP achieves financial close for its offshore wind project

Copenhagen Infrastructure Partners (CIP) announced that reached financial close for the 589 MW offshore wind project’s establishment in the coast of Changhua County, Taiwan. In fact, the Changfang and Xidao wind farm will be powered by 62 of MHI Vestas 9.5MW turbines and are expected to begin operations in early 2024.

Possible EU subsidy for Porthos CO2 storage project

The European Union is prepared in principle to provide a subsidy for the Porthos project on storage of CO2 from industry in Antwerp, Ghent, Zeeland and Rotterdam beneath the North Sea. This is according to the list of energy projects that the European Parliament approved on Wednesday.

JAXPORT awarded $93 million for its deepening project

The US Federal government recently granted $93 million to JAXPORT, concerning the next phase of its upgrade project. Namely, the investment will focus on the deepening of Jacksonville shipping channel to 47 feet from its existing depth of 40 feet.

Dutch Research Council funds offshore wind study with EUR 1.1 million

The Dutch Research Council has approved funding of EUR 1.1 million for a project research in the field of large scale offshore wind production by developing offshore storage and transport alternatives. This comes in line with the ambition of the Dutch government to establish 75 GW offshore wind capacity by 2050.

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