Published by The Maritime Executive

Published by The Maritime Executive

Published by The Maritime Executive

Published by The Maritime Executive

Published Sep 22, 2022 5:50 PM by The Maritime Executive

A new startup aims to become the first pure-play offshore wind vessel owner in Asia, diversifying a global market which has traditionally been filled by European players. 

Within a three-year timetable, Cyan Renewables aims to invest $1 billion in a fleet of offshore wind vessels, to include cable layers, service operation vessels and wind turbine installation vessels. It swiftly opened a European office in Denmark, the spiritual home of the offshore wind industry, and has hired Lars Christian Zøhner - former CEO of Danish crew transfer vessel operator World Marine Offshore - to helm its EU presence.

Singapore-headquartered Cyan is the latest launch of Seraya Partners, an investment management company focused on energy-transition and digital infrastructure markets in Asia. It has also invested in green data centers and electric vehicle charging infrastructure. 

"Asia is starting to develop offshore wind farms and there’s a clear value proposition that Cyan can deliver to end users. We are fully committed to growing Cyan into the world’s first pureplay offshore wind farm vessel operator,” said James Chern, Chairman and Managing Partner of Seraya Partners.

Cyan joins a growing roster of offshore wind farm vessel operators, like NYSE-listed Eneti and Denmark-based Cadeler. The latter two firms are focused on capitalizing on the anticipated shortage of WTIVs in years ahead. These $300 million jack-up vessels are complex and specialized, and only a handful are capable of lifting the ultralarge turbines designed for the next generation of wind farms. The nacelle height of a 15 MW turbine will be about 200 meters in the air, requiring a gigantic crane for installation. 

Eneti forecasts a shortfall in the supply of 12 MW-plus capable WTIVs by 2025-6, based on currrent wind farm development pipeline and current vessel orders. 

Published Sep 23, 2022 4:24 PM by The Maritime Executive

The UK reports a strong response for its first-ever carbon storage licensing round which offers up 13 areas along the coast for the emerging industry. The North Sea Transition Authority (NSTA) reports it received 26 bids in the three-month process that closed last week and which is likely to be the first many auctions as they seek to develop the industry to provide carbon storage. The NSTA reported it was launching the carbon storage licensing round in June in response...

Published Sep 23, 2022 3:10 PM by The Maritime Executive

MSC met the deadline set by the FMC’s administrative judge hearing the complaint of Shipping Act violations against the carrier strongly refuting the accusations that the company has not supplied information and could be subjected to a default judgment. The world’s largest carrier continues to vigorously defend its actions calling the problems the shipper experienced errors and poor communication involving no wrongdoing by MSC. Two weeks ago, Judge Erin Wirth hearing the complaint by a Pennsylvania-based furniture company against MSC...

Published Sep 23, 2022 1:42 PM by The Maritime Executive

Shanghai port officials announced plans for a massive new container terminal that will expand the region’s throughput capacity by nearly a quarter. The project which calls for more than a $7 billion investment in the port capacity in the Yangtze region comes as Shanghai is feeling increasing competition both from neighboring Chinese ports as well as Singapore which recently opened its massive new port complex. The Shanghai International Port Group (SIPG) plans to develop a new container terminal in Zhejiang...

Published Sep 23, 2022 12:30 PM by The Maritime Executive

A prototype for the first commercial wing-in-ground effect vessel called a seaglider completed its first test flights. The demonstrations were carried out with a quarter-scale model in a series of flights in Narragansett Bay, Rhode Island, and are being called the “next great moment” in transportation by Regent a company working to commercialize the technology for regional travel. Conceptualized more than 60 years ago, the wing-in-ground effect vehicle flies low (within one wingspan) over the water to take advantage of...

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