Late 2023 brought a sense of realism to what had been the highly optimistic US offshore wind sector which had hoped to bring 30 gW of power, almost all in Atlantic waters, online by 2030 (30 by 30).
There is a risk of congestion post Chinese New Year as crises in the Red Sea and Panama converge, but insurers played down a potential flashpoint in the Taiwan Strait.
In a market with a tight supply of large tankers DHT Holdings earned an average of $42,800 per day for its fleet of 24 VLCCs in the fourth quarter of 2023.
As the situation in the Red Sea disrupts normal operations, legal and insurance experts explore some of the practical and legal considerations shipowners and charterers face.
Under a swap deal, Equinor is set to take full ownership of the Empire Wind lease and projects while BP will take full ownership of the Beacon Wind lease and projects.