Daily Archives: October 3, 2021

ALBANY, N.Y., Sept. 29, 2021 /PRNewswire/ -- The growing initiatives to develop the wind energy sector with the emphasis to complement non-renewable sources of energy is creating opportunities in the offshore corrosion protection market. Among a slew of renewable sources of energy, the development of wind energy is of significance due to minimal infrastructure required to convert it into usable energy. The efforts to tap wind energy requires construction of wind turbines at offshore locations and moderate to high altitude topographical regions with strong winds, which need to be protected from its external environment. This creates demand for offshore corrosion protection solutions.

The need for corrosion protection solutions against oxidation is of importance for equipment used in offshore and marine environments. Corrosion of steel platforms such as those used in drilling operations can lead to failure of base structures and can sometimes cause on-site accidents. Offshore corrosion protection solutions are, thus, used to prevent offshore machines and operating platforms from becoming unreliable or unsafe for use. According to experts, the use of corrosion protection solutions can lower the cost associated with corrosion, which could be from 15% to 35% of the total cost.

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Large economic value of wind energy, shipping operations, and development of oil rigs at offshore locations fuel the growth of the offshore corrosion protection market. The offshore corrosion protection market is projected to expand at a CAGR of 2.9% during the forecast period of 2019- 2030.

Offshore Corrosion Protection Market Key Findings of Report

Emergence of Organic Coatings to Open New Revenue Streams

Considerable R&D undertaken by companies in the offshore corrosion protection market to develop and evaluate the efficacy of organic coatings is creating new frontiers in the offshore corrosion protection market. Organic coatings have displayed the potential to gradually replace expensive conventional coatings to protect metallic substrates such as iron, magnesium, aluminum, and steel. Organic coatings have displayed the properties suitable for hostile environments and complex offshore conditions to prevent metallic deterioration, depletion of resources, and prevent structural failures for optimum productivity of drilling operations.

Prospects of Role of Nanotechnology Deemed to Fuel Market Expansion

The increasing penetration of technology in an array of offshore operations is a new phenomenon that has come to the fore. At present, nanotechnology has emerged to be promising n redefining offshore protection pursuits in the years ahead. This involves the development of a new range of nanostructured coating materials to expand the range of offshore corrosion protection solutions. This is favorable for the growth of the offshore corrosion protection market.

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Investments in Oil & Gas Sector Spells Growth

The incessantly rising demand for petroleum products such as oil and gas is resulting into investments in the oil & gas sector. Oil companies world over are investing in the oil & gas sector, which includes investments for the exploration and development of oil wells. The total volume of oil recovered from oil & gas sources at around nine billion barrels in 2018 against 10 billion barrels in 2017 is a testimony to this.

The end-to-end operations for the development, extraction, and logistics of oil drilling activities require an array of machineries and support platforms that are subject to harsh environmental conditions. This provides revenue opportunities for the offshore corrosion protection market.

Offshore Corrosion Protection Market Growth Drivers

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Offshore Corrosion Protection Market Key Players

Some of the key players operating in the offshore corrosion protection market are Southern Cathodic Protection, Ashland, Akzo Nobel N.V., Hempel A/S, Kansai Paint Co. Ltd., BASF SE, Chase Corp., RPM International Inc., 3M, Joturn A/S, Axalta Coating Systems Ltd., The Sherwin-Williams Company, Aegion Corporation.

Global Offshore Corrosion Protection Market: Segmentation

Offshore Corrosion Protection Market,by Technology

Offshore Corrosion Protection Market,byApplication

Offshore Corrosion Protection Market, by Region

Chemicals & Materials Industry battles Tangible Impact of Economic and Cultural changes, Explore Transparency Market Research's award-winning coverage of the global Chemicals & MaterialsIndustry:

Oil Spill Management Market- The report segments the global oil spill management market in terms of product type, technology, and geography. On the basis of type, the market is segmented into onshore spill management and offshore spill management. On the basis of technology, the oil spill management market is segmented into pre-oil spill and post-oil spill. Pre-oil spill management includes double hulling, blowout preventers, and pipeline leak detection. On the other hand, the post-oil spill management segment includes mechanical, physical, and chemical and biological methods intended to minimize the effects of the oil spill. Pre-oil spill management comprises technologies for preventing oil spills, whereas the post-oil spill management includes various methods utilized to clean, manage, and contain an oil spillage.

Wind Power Coatings Market- The global wind power coatings market was valued at US$ 798 Mn in 2018 and is anticipated to expand at a CAGR of approximately ~10% during the forecast period. The global wind power coatings market is driven by the increase in investments in offshore wind power generation. Asia Pacific accounts for a major share of the global wind power coatings market, led by the rise in focus on reducing greenhouse gas emissions in the region

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Growing Demand for Offshore Renewables to Propel Offshore Corrosion Protection Market to Valuation of US$ 13 Bn by 2030: TMR - PRNewswire

CHINA. Offshore duty free sales in Hainan surged +122% year-on-year to CNY171 million (US$26.53 million) on National Day (1 October), the first day of the Golden Week celebrations. While traffic has been lighter than hoped for in some stores over the past three days, largely related to certain provincial governments on the Mainland urging their citizens not to travel during the holidays due to COVID-19 concerns, the numbers suggest that last years total Golden Week record sales of some US$155 million should be blitzed.

Reporting the figure, since confirmed by Hainan Provincial Bureau of International Economic Development (Hainan IEDB) to The Moodie Davitt Report, government-owned Sansha Satellite TV noted the big crowds packed into the China Duty Free Group and Global Premium Duty Free (GDF) Plaza stores in Haikou.

Shoppers queue up outside the China Duty Free Group store (above) and GDF Plaza (below) on National Day

It also pictured Haikou Customs officers supervising the unloading of goods, carrying out inspections, and checking the recently introduced traceable QR source codes on each sku. The traceable source code, a globally unique number, takes the form of a Hainan-specific QR code label, which is tear-proof and damage-resistant.

To ensure that duty free shops have sufficient supply during the peak holiday shopping period we must speed up the circulation of duty free goods, a senior Customs official told Sansha Satellite TV.

(Above and below) Steady rather than frantic shopping scenes at the China Duty Free Group-run Sanya International Duty Free Shopping Complex in Haitang Bay during the late morning of 3 October. There has been some softening of visitor numbers due to certain Mainland provincial authorities urging their citizens not to travel during the Golden Week holidays due to COVID concerns.

Key stories from China and related to Chinese travellers are featured each week on The Moodie Davitt Reports WeChat Official Account. Please scan the QR code to follow us.

This year, two new duty free shops have been opened in the Haikou area, and the duty free goods supervision warehouse has continued to expand. The sales volume of duty free goods has increased significantly, and our supervision workload has also continued to increase.

The report noted that to maximise the consumer benefits of Hainans offshore duty free business, Customs have implemented multiple measures to protect the duty free goods supervision chain, including the speeding up and simplification of customs clearance transfer procedures.

As reported, the days leading up to the official holidays also saw bountiful sales. Hainan Development Holdings-controlled Global Premium Duty Free (GDF) Plaza posted a new daily sales record of more than CNY60 million (USS$9.3 million) on 29 September.

That figure was partly drive by high sales to locals who were leaving the island for the Golden Week holiday and took advantage of strong promotions, heavily marketed by GDF Plaza. The next few days will depend on the number of pax coming to Hainan, a senior GDF Plaza source told The Moodie Davitt Report.

Hainan Provincial Bureau of International Economic Development (Hainan IEDB) picks up on the Sansha Satellite TV story. Note the Customs officials checking the traceable QR source codes on each sku.

Sales across the island provinces nine stores have been boosted by a duty free coupon promotion in association with the Hainan Provincial Department of Commerce. Each retailer is offering a variety of discounts under the scheme. China Duty Free Groups five stores are operating the voucher scheme until 31 December; GDF Plaza throughout October; Shenzhen Mission Hills Duty Free City until year end; HTDFs Sanya International Duty Free Shopping Complex until 15 October; and CNSC Sanya International Duty Free Plaza until 31 October.

Note: Every fortnight The Moodie Davitt Report publishes Hainan Curated, in association with Foreo, a selection of all recent stories from the offshore duty free sector in Hainan province.

Clickhereto view all back issues. Please emailSinead@MoodieDavittReport.comto subscribe.

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National Day offshore duty free sales in Hainan hit CNY171 million up +122% on 2020 - The Moodie Davitt Report - The Moodie Davitt Report

UK leads world on offshore wind

Professional Engineering

The UK has more offshore wind energy capacity in operation than any other country, new research has shown. The country retained its top spot on the global rankings with 10.4GW installed, as further analysis also by trade organisation RenewableUK showed that investment in UK offshore wind manufacturing has hit new heights, with over 900m invested in new factories so far this year.

The Engineer

A new facility led by the University of Strathclyde in Glasgow will test new nanotechnologies for medical applications. The Multiscale Metrology Suite (MMS) for Next-Generation Health Nanotechnologies will enable testing of materials and prototype technologies.

Professional Engineering

A new multi-million pound facility will simulate the intense heat and magnetic fields of future nuclear fusion power stations. Designed to enable testing of power plant components in the extreme conditions that they will face during operation, the Fusion Technology Facility is now open and operating in Rotherham, South Yorkshire.

The Engineer

A suitcase sized platform known as ForgeStar will enable microgravity testing of new materials and pharmaceutical compounds in orbit. First launching in 2022, ForgeStar will stay in low Earth orbit for up to six months.

Professional Engineering

More than 40 engineering organisations, including the IMechE, have urged the government to invest 40m annually to improve access to careers provision in English schools and colleges. Aimed at enabling more young people to understand the opportunities available in Stem careers, the call was first made by EngineeringUK. Now, the National Engineering Policy Centre (NEPC), has backed the call and made six further urgent recommendations ahead of the upcoming Autumn Budget.

Aerospace Manufacturing

The US Defence Advanced Research Projects Agency (Darpa) has flight-tested a hypersonic air-breathing cruise missile. Manufactured by Raytheon Technologies and powered by a Northrop Grumman scramjet, the missile hit speeds of above Mach 5.

Professional Engineering

Tiny grains known as zeolite granules can store the summers heat to warm homes in winter, but the materials impressive chemical storage is held back by poor conductivity. Now, a team of researchers from the Fraunhofer Institute in Dresden, Germany, say they have doubled zeolites thermal conductivity with just one step, and they aim to take it much further to help reduce energy consumption from heating and cooling.

Rail Technology Magazine

A battery train developed by Vivarail will service Cop26 in Glasgow. The train has a range of 80 miles, and can recharge in 10 minutes.

Professional Engineering

A new type of glass is both stronger and more fracture-resistant than conventional examples, its developers have claimed. The researchers from McGill University in Quebec, Canada, were inspired by the material properties of the tough inner layer of mollusc shells. Instead of shattering upon impact, the new glass reportedly has the resiliency of plastic and could be used to improve mobile phone screens, among other applications.

The Engineer

Researchers at the University of California, Los Angeles, have developed a flexible bioelectronic device that converts the bodys movement into electricity. The generator could be used to power wearable devices.

Join IMechE and Professional Engineering at THE virtual fair for early engineering careers and find your perfect job!Register forEngRec2021 FREE today.

Content published by Professional Engineering does not necessarily represent the views of the Institution of Mechanical Engineers.

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UK leads world on offshore wind and centre simulates nuclear fusion: 10 top stories of the week - Professional Engineering

2021 has seen a record 900m worth of investment in offshore wind manufacturing.

According to analysis conducted by RenewablesUK, this is the highest annual amount since the industry began in 2000.

As part of the industrys commitment to increase UK infrastructure by 60% by 2030, grants and business support worth 4.5m have been awarded so far this year to 76 supply chain companies by the Offshore Wind Growth Partnership, a 100m fund set up by the industry.

This week JDR Cables unveiled plans to build a new factory in Cambois near Blyth in Northumberland, creating 170 jobs.

July also saw two other major announcements, South Korean company SeAH Wind is investing 260m over three years in offshore wind turbines, creating 750 direct jobs.

RenewableUKs CEO Dan McGrail said: This record year of over 900m of investment in major British offshore wind manufacturing plants shows that the 2020s is the decade of delivery for the UKs offshore wind sector.

The offshore wind industry is making good on its commitments to create tens of thousands of jobs and attract billions in investment in state-of-the-art factories around the country. 26,000 people already work in this sector and thats set to increase to 69,000 over the next five years.

The Government is playing an important role in securing supply chain investment by providing strategic funding support to deliver the green economic recovery this country needs. This new funding to develop world-class offshore wind hubs in ports like Teesside and the Humber is a clear example of levelling-up in action.

In related news, 180m worth of private sector investment into offshore wind is expected to create more than 1,000 new jobs.

Business and energy secretary, Kwasi Kwarteng, said: Wind is one of the UKs greatest natural assets and were a world leader in offshore wind energy. With the largest installed capacity of offshore wind in the world, we are determined to grow and nurture a strong, world-class manufacturing base so British businesses and our workforce can fully seize the economic benefits being a windy island nation brings.

Photo by American Public Power Association

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Record year for investment in offshore wind manufacturing - Environment Journal

Athena International Management was named Best Offshore Governance Firm of the year at the 2021 HFM US Service Awards, marking the Cayman Islands boutique governance firms second consecutive win in this category.

The prestigious award acknowledges and celebrates service providers serving the US hedge fund industry who have demonstrated exceptional innovation in product delivery, customer service and business performance over the past 12 months.

For the second year in a row, Athena was shortlisted for its directorship services, this year alongside the Maples Group and Calderwood, and took home the award on the night. For the first time, following the virtual event marking last years inaugural award in this category, Founder Allison Nolan was able to collect the award in-person at a ceremony held at Guastavinos in New York.

Commenting on the win, Nolan said, We are very pleased to berecognisedagain for our commitment to providing a fresh perspective on corporate governance, delivering innovative solutions and best-in-class service to our clients. This award serves as continued validation of our relationship-driven approach and high-standards of governance that continue to set the benchmark for the alternative investment community and beyond.

Nolan is a champion for change within the hedge funds industry, particularly around diversity and inclusion. Over the last 12 months, her firmwhich also celebrated its 15-year anniversary in 2020has seen innovations to its core service offering, including assisting fund managers with environmental, social and governance (ESG) matters and global regulatory compliance requirements, which continues to bring issues like gender diversity on the board of directors of alternative fund structures into the mainstream.

We have seen ESG assessments and filters becoming a standard component of investor due diligence, she explains. More and more we see investors looking at the investment management firm themselves and, as a female founded and led governance firm, Athena can ably assist our clients in integrating global standards into their existing governance frameworks and by adding gender diversity to the funds board of directors or advisory committee.

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Athena wins Best Offshore Governance Firm for the second year | Loop Cayman Islands - Loop News Cayman

Turkey on Saturday said the presence in the region of a ship that will launch research activity on behalf of the Republic of Cyprus was another move breaching both the Turkish Cypriots rights and violating Turkeys continental shelf.

The Turkish foreign ministry said in a statement that the main cause of tension in the eastern Mediterranean in recent years has been Greeces and the Greek Cypriots maximalist maritime jurisdiction area claims and unilateral acts that ignore Turkey and Turkish Republic of Northern Cyprus (TRNC) rights and interests.

Referring to the presence of the Nautical Geo vessel in Cyprus exclusive economic zone, Ankara said this was another unilateral act that, together with similar moves by Greece and Cyprus, increase tension in the East-Med and threaten peace and stability.

According to a Navtex issued by the Republic, the Nautical Geo would be executing survey operations within Cyprus EEZ in the south coast between September 27 and October 4.

In addition to Greeces recent attempts to violate our continental shelf in the East-Med recently, the GCA (Greek Cypriot Administration) has also announced that it will launch a research activity on 3 October with an Italian-owned, Maltese-flagged ship in the region, breaching both TRNCs rights and violating Turkeys continental shelf, Ankara said.

The ministry referred to the proposal by Turkish President Recep Tayyip Erdogan to the EU to convene an inclusive conference in the eastern Mediterranean last year and the norths proposal to the Greek Cypriot side in July 2019 regarding hydrocarbon resources. Though all these proposals are on the table, Greece and the Greek Cypriots have been attempting to engage in unilateral and provocative activities in recent months by increasing the tension in the Eastern Mediterranean, it added.

It said all necessary steps are being taken against these unilateral acts of Greece and Cyprus both on the ground and at the table. Also, it is being brought to the attention of third countries that they should not be part of these unilateral acts, it added.

The ministry said Turkey will resolutely continue to protect its own and the Turkish Cypriots rights in the East-Med.

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Offshore research activity by RoC another step raising tension, Turkey says - Cyprus Mail