Urgent.News

What's breaking now, across thousands of outlets.

Finance & Markets

ABS Approves Hanwha Ocean’s Standardized FLNG Design

ABS has issued approval in principle (AIP) to Hanwha Ocean for a standardized floating liquefied natural gas (FLNG) design. By adopting a platform-based FLNG design that can be applied across multiple projects, Hanwha Ocean aims to shorten initial engineering and improve predictability in project execution. The standardized approach is expected to improve overall project efficiency ...

ABS has granted approval in principle (AIP) to Hanwha Ocean for a standardized floating liquefied natural gas (FLNG) design. This move by ABS aims to facilitate a platform-based FLNG design that can be applied to multiple projects, ultimately reducing initial engineering efforts and enhancing project execution predictability. The standardized approach is anticipated to enhance overall project efficiency by shortening engineering lead times and simplifying execution processes.

ABS conducted thorough design reviews, adhering to relevant class requirements and industry standards. Speaking on the matter, Matt Tremblay, ABS Senior Vice President for Global Markets, expressed pride in supporting Hanwha Ocean as it advances a platform-based strategy to streamline engineering and project execution. ABS has previously completed basic design reviews for Hanwha Ocean's standardized floating production, storage, and offloading (FPSO) design, which was developed for the South American and West African deepwater markets.

Additionally, ABS carried out related sustainability assessments for the same design. ABS supports FLNG projects throughout the entire asset life cycle, from initial concept development to design review, construction, and operation.

Written by urgent.news from Hellenic Shipping News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.

Read the original at hellenicshippingnews.com →

More in Finance & Markets

Stena signs agreement to acquire Color Line

The Swedish industrial Group Stena AB, owner of ferry operator Stena Line, has entered into an agreement to acquire the Norwegian shipping company Color Line, subject to regulatory approval.

  • Swedish group Stena AB agrees to acquire Norwegian shipping company Color Line.
  • Merger combines European passenger and freight transport specialists.
  • Color Line to retain independence and Norwegian-registered ships post-acquisition.

HHLA lowers earnings forecast for the 2026 financial year

Based on the business development to date and updated estimates for the fourth quarter of 2026, the Executive Board of Hamburger Hafen und Logistik AG (HHLA) made the decision today to adjust its…

  • HHLA lowers 2026 earnings forecast to €115M-€135M, down from €150M-€170M
  • €12M impairment loss in Logistics segment due to strikes and automation disruptions
  • Container throughput expected to decline significantly YoY

All Hands On Deck: VFS Global Takes Visa Applications Offshore For Maritime Industries

More shipping companies and firms employing offshore workers are using a unique ‘visa on the seas’ service for arranging the documentation required for employees working in territorial waters or…

  • VFS Global expands Visa on the Seas service for maritime industries.
  • Processed 3,000 visa applications at sea and ports since 2019.
  • VAYD service eliminates need for workers to travel to visa centers.

NGOs Call on Nordic Council To Adopt AMOC Resolution and Make Good on Polar Fuels Promise

As a meeting of Nordic Council parliamentarians opens today in Finland, the Clean Arctic Alliance calls on participants to adopt a resolution on the Atlantic Meridional Overturning Circulation (AMOC)…

  • Nordic Council debates AMOC resolution during Finland meeting
  • Black carbon accelerates Arctic melting, threatens Arctic
  • Nordic governments to adopt IMO's polar fuel rule by 2025

More from Monday 26 October →