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German shipowner Oldendorff Carriers (OC) said it has signed onto a project to develop and trial a fuel-saving wind-assisted propulsion solution for bulk carriers that will help to reduce vessels' carbon emissions.The joint development project (JDP), which also involves Anemoi Marine Technologies, Lloyd’s Register (LR) and Shanghai Merchant Ship Design and Research Institute (SDARI), is scheduled for completion in 2022 and aims to produce commercial-ready applications across the industry in the short-term.

President Joe Biden believes the Nord Stream 2 natural gas pipeline is a "bad deal for Europe" and his administration will be reviewing restrictions on the project included in a bill that passed during the Trump administration, the White House said on Tuesday.The restrictions on the undersea pipeline project were included in the annual defense policy bill that passed on Jan. 1. Sanctions in the measure apply to any companies helping Gazprom, the Russian state energy company leading the project, to lay pipeline, insure vessels, or verify equipment.

Maritime classification society ABS will class the first U.S.-flagged Jones Act offshore wind farm service operation vessel (SOV) ever ordered.The vessel, ordered last year, will be engineered, constructed, and operated by Edison Chouest Offshore (ECO) for long-term charter to service the planned Revolution Wind, South Fork Wind, and Sunrise Wind offshore wind farms in the northeast United States.Edison Chouest Offshore, Ørsted, and Eversource in November 2020 announced the execution of a long-term charter agreement for the provision of the SOV.Matt Tremblay, ABS Senior Vice President, Global Offshore: "ABS’ unique understanding of the U.S.

Lenders took control of Polarcus' ships on Tuesday after the seismic surveyor defaulted on its bank loans and bonds, hit by a drop in spending by energy companies struggling with the COVID-19 pandemic and volatile oil prices.The company's Oslo-listed shares plunged as much as 47% after they resumed trading following an earlier suspension.Polarcus said lenders had taken over shares in subsidiaries that own seismic vessels and replaced directors in each subsidiary, but wanted to continue its operations."In parallel with their actions described above, the lenders have made it clear to the company that their intention is not to jeopardize or destabilize the Polarcus organization," it added.

MOD of Norway signed an agreement to take part in a development project to extend the range and features of the STADT Stealth Naval Electric Propulsion.Due to increased use of electric and electronic weapon-systems, navies globally show increased interest for electric propulsion to power future navy vessels. Overall goals include minimizing carbon footprint, lowering power consumption with the use of new low emission power sources, while also increasing operational range and defense capabilities by stealth operations.