Digital Twins play a vital role in shipbuilding

Digitalization and automation are a hot topic in the shipping industry with the digital twin technology developing rapidly in vessels’ simulation or individual components, such as engines or thrusters.

IMO 2020 creates legal stress points

Shipowners, operators and charterers face technical, commercial and legal challenges in the run-up to the IMO’s January 2020 sulphur cap. In the following article, Ian Short, a Campbell Johnston Clark partner, explains some essential contractual precautions.

Rystad: Lower oil prices to push services into recession in 2020

After three successive years of growth, the global service market will see a recession in 2020 driven by lower oil prices, according to research firm Rystad Energy. In a new update, Audun Martinsen, head of oilfield services, forecasts a 4% decline in global oilfield service revenue if oil prices stay flat next year.

The road to 2050 energy transition

In the most recent Energy Transition Outlook, DNV GL presents its timeline of the next 30 years of the energy transition, which shows many astonishing milestones. Namely, the one of the key takeaways of the timeline is the peak of energy supply and demand, but there are other significant milestones as well. According to the timeline oil will peak at 2022, while 4 years later transport energy demand will peak.

How to keep emissions gap well below 2°C

In light of DNV GL’s Energy Transition Outlook 2019 launch, this infographic describes 10 measures that aim to help close the emissions gap to well below 2°C. However, DNV GL added that policies must also be developed in order to mitigate at least three fronts at the same time: higher energy efficiency, more renewables, and industrial-scale CCS.

New fuels, energy efficiency to be key in meeting IMO GHG goals

As part of its Energy Transition Outlook 2019, DNV GL provided an independent outlook on the maritime energy future examining how the energy transition will affect the industry. The report forecasts that new fuels, alongside energy efficiency, will play a key role on meeting the IMO greenhouse gas ambitions.

MAN Energy Solutions to promote hydrogen technology

Germany-based MAN Energy Solutions  announced it has become a partner of the Bavarian Hydrogen Council, focusing on expanding hydrogen technology in Bavaria. As partner, the company will work with other major players from politics, finance and science to drive the development of hydrogen technology.

North Sea M&A deals not creating expected value, Woodmac says

After analyzing 55 cases of Mergers and Acquisitions in the North Sea, energy consultant Wood Mackenzie found that only 18 have made a positive return. Two factors have had the biggest impact on value destruction: asset under-performance (post-deal) and oil and gas price movements.

Energy trends that we expect in 2019

While a 100% renewable society is becoming a reality for many, others are making serious commitments towards adopting clean energy. For this reason, Wartsila presents some of the trends for 2019, which could lead the world closer towards clean energy.