Tag: Funding

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. 

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.

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.

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.

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.

The European Commission announced partnership with the European Investment Fund, part of the European Investment Bank (EIB), to launch the BlueInvest Fund, a €75 million equity investment fund for the blue economy.

The Netherlands has initiated the NesecShipping Debt Fund, under which institutional investors and the Province of Groningen will offer financing for Dutch shipowners who are planning to acquire (or re-build) short-sea vessels.

The European research program "Horizon 2020" funded 20.1 million euros to the Norwegian consortium led by Kongsberg and SINTEF, for its autonomous ships project, one of the largest grands the Norwegian players ever receive.

The U.S. Maritime Administration (MARAD) announced that found $7.5 million for the investment of nine U.S. marine highway projects. Specifically, the funding will give a boost to the existing services in the states of Florida, South California, Kentucky, Louisiana, Michigan, Oregon, Texas, Virginia and lastly Washington.

The US Department of Transportation's Maritime Administration (MARAD) officially announced the funding of $1.5 million in order to boost the conversion of Washington's State Ferry vessel from diesel fueled to hybrid-electric power one.