Ocean Industries

  • Shipping Offshore, Ocean Industries, Environmental law, Sustainability

    2021

    Decarbonisation in shipping – the EU proposals

    On 14 July 2021 the European Commission published its “Fit for 55” package setting out various legislative proposals to enable the EU to reach its objective to reduce emissions by at least 55% by 2030 (as compared to 1990 levels).

  • Shipping Offshore, Ocean Industries, Sustainability, Environmental law

    2021

    The EU ETS expands to shipping

    One of the most talked about and controversial aspects of the EU’s proposed “Fit for 55” package is the European Commission’s proposal for a revised Emissions Trading System (EU ETS). This article examines the proposal and details its potential impact on the shipping industry.

  • Shipping Offshore, Ocean Industries, Sustainability, Environmental law

    2021

    Key aspects of FuelEU Maritime proposal

    On 14 June 2021, the European Commission presented a package of proposals aimed at ensuring that the European Union achieves its goal of cutting greenhouse gas emissions by at least 55% by 2030. The proposals include, amongst other things, the new FuelEU Maritime initiative, specifically aimed at the shipping industry.

  • Renewable energy and infrastructure, Shipping Offshore, Ocean Industries, Sustainability

    2021

    From East Anglia to East Asia: A commercial perspective on the development of offshore wind in Taiwan and further afield

    Alex Hookway, a Senior Lawyer in Wikborg Rein's Renewables Team, sat down with Sam Stout, Managing Director of Colebrook Offshore1 in London. They discussed the current status of offshore wind in the Asia-Pacific, the (sometimes painful) lessons learned from the early wind farms in Taiwan and further afield, and what's next for wind energy in the region.

  • Renewable energy and infrastructure, Shipping Offshore, Ocean Industries, Sustainability

    2021

    Coming of age, what to do with mature wind farms? extend, repower or decommission?

    At a time when many nations are expecting an explosion of new leasing rounds to meet the gap left by the phasing out of fossil fuels (and in some jurisdictions, nuclear power), it might seem odd to consider the ‘end of life’ options for wind farms – whether lifetime extension, repowering or decommissioning. However, wind turbines have an operational lifetime of 20-25 years. For the original offshore developments in the North Sea, this may be shorter as technology, fabrication and construction knowledge has developed rapidly over the past 20 years.

  • Renewable energy and infrastructure, Shipping Offshore, Ocean Industries, Sustainability

    2021

    Post-Trump: The Winds of Change Opportunities for offshore wind farm installation vessels in the US

    Despite the USA having what has been described as a “globally significant wind resource”, the development of the offshore wind industry in the United States has had something of a slow start, with only 5 electricity generating turbines currently in operation in US offshore waters with generating capacity of only around 30 MW.

  • Renewable energy and infrastructure, Shipping Offshore, China, Ocean Industries, Sustainability

    2021

    Offshore wind projects in China: Key legal issues

    For those who are interested in the Chinese offshore wind market, it is crucial to understand that the Chinese regulatory framework for this sector is complicated and comprehensive, covering the whole value chain.

  • Renewable energy and infrastructure, Shipping Offshore, Ocean Industries, Sustainability

    2021

    Charterparties for wind turbine installation vessels

    An important part of every offshore wind project is the installation of wind turbines. Installation of modern bottom-fixed offshore wind parks require specialised turbine installation vessels (WTIVs) to perform impressive lifts in challenging conditions. Currently, there is limited number of vessels available for these projects, in particular as wind parks are developed further offshore and with larger turbines. The charters for WTIVs are often fixed a couple of years prior to the project execution and accordingly, negotiation of the charterparties for these vessels is critical for a project’s success.

  • Renewable energy and infrastructure, Shipping Offshore, Ocean Industries, Sustainability

    2021

    BIMCO ASVTIME

    Earlier this year BIMCO expanded their suite of offshore contracts by launching the new standard time charter for accommodation support vessels. Wikborg Rein participated in BIMCO’s drafting committee for the form, and set out an overview of its key features below.

  • Renewable energy and infrastructure, Shipping Offshore, Sustainability, Ocean Industries

    2021

    Floating offshore wind: How to structure technology development

    Technology development within offshore wind, particularly floating offshore wind, is expected to continue at a significant pace in the coming years. How could such technology development be structured, and what should the involved parties be aware of and take into consideration?

  • Renewable energy and infrastructure, State aid and EU/EEA law, Shipping Offshore, Sustainability, Ocean Industries

    2021

    State Aid for Offshore Wind

    There is no doubt that offshore wind needs considerable public support in order to be financially viable. However, such support must first pass the threshold of EEA state aid law. How can state aid for offshore wind be granted legally, and what sources of state aid are available in Norway and the EU?

  • Renewable energy and infrastructure, Shipping Offshore, Sustainability, Ocean Industries, Financing

    2021

    Debt Capital Financing of offshore wind projects

    Offshore wind projects will play an important role in meeting the world’s need and demand for sustainable energy going forward. Offshore wind projects make an attractive investment, due to, among other factors, their stable and heavily regulated nature, as well as their green profile and the possibility of long term cash flows.

  • Renewable energy and infrastructure, Shipping Offshore, Ocean Industries, Sustainability

    2021

    Offshore wind power purchase agreements

    Power purchase agreements (PPAs) often play a crucial role in project financing of renewable energy projects, including offshore wind. Having a PPA in place to secure the revenue stream for a renewable energy project is often a necessity to attract banks and other project financiers. While a PPA may make an offshore wind project bankable, there are several considerations to be made in the drafting of a PPA. In this article we take a closer look at some important questions surrounding those considerations.

  • Renewable energy and infrastructure, Ocean Industries, Sustainability, Shipping Offshore

    2021

    Marine spatial conflicts: Offshore wind – Increased pressure on Norway’s marine areas

    Norway’s large sea areas remain one of the country’s most important advantages in the global transition to a greener and more sustainable society. Solving the global climate challenges includes investments in measures such as ocean-based transport, restoration of marine ecosystems, seafood, storage of carbon in the ocean floor and ocean-based renewable energy. While these activities can help reduce the carbon footprint, they may also lead to increased activity in the sea areas already used for other types of (traditional) marine activities.

  • Renewable energy and infrastructure, State aid and EU/EEA law, Shipping Offshore, Ocean Industries, Sustainability

    2021

    Distribution of congestion revenue from interconnectors

    Offshore renewable energy plays a key role in achieving the EU’s climate and energy goals set out in the European Green Deal. The EU aims to reduce greenhouse gas emissions by 55% by 2030, and to become the first carbon-neutral continent by 2050.

  • Renewable energy and infrastructure, Shipping Offshore, Sustainability, Ocean Industries

    2021

    Auctions as an allocation tool – how auctions can be tailored to reduce uncertainty

    Norway is in the process of opening up for establishment of offshore wind production. One option is the use of auctions to allocate exclusive rights for this purpose. Industry players have raised concerns in particular due to uncertain prerequisites for these auctions. In this article, we point out that uncertainty might be mitigated by tailoring the auctions, and we give examples on how uncertainty can be reduced.

  • Renewable energy and infrastructure, Shipping Offshore, Sustainability, Ocean Industries

    2021

    How to manage regulatory risks in your joint venture agreement

    Several large companies have recently teamed up in consortiums, announcing their interest in the development of Norway’s first large scale offshore wind farms in the Utsira Nord and Sørlige Nordsjø II areas in the North Sea. At the same time, the Norwegian energy authorities are carrying out a revision of the Offshore Energy Act, the Offshore Energy Act Regulations, and the guidelines for the offshore wind concession process, leaving many unanswered questions in the regulatory landscape.

  • Renewable energy and infrastructure, Sustainability, Environmental law, Ocean Industries

    2021

    Important clarifications for offshore wind in Norway

    On June 8th, the Norwegian Minister for Petroleum and Energy, Tina Bru, announced that the first licenses for development of offshore wind in Norway may be granted in early 2022.

  • Shipping Offshore, Ocean Industries, Sustainability

    2021

    Green shipping: governmental support scheme for green offshore vessels

    In furtherance of its ambition to cutting CO2 emissions from the short sea shipping industry in Norway by 50 % within 2030, the Norwegian government today announced that NOK 150 million has been earmarked for 2021 to support green investments in offshore vessels.

  • Sustainability, Ocean Industries, Technology and digitalisation, Renewable energy and infrastructure, Shipping Offshore

    2020

    Partner in the One Ocean Expedition

    Wikborg Rein is proud to partner and fully support the United Nations Decade of Ocean Science for Sustainable Development in the project: The One Ocean Expedition.

  • Shipping Offshore, Ocean Industries

    2020

    The London Dumping Regime – taking a lead in developing a legal framework for ocean fertilization activities

    Contracting Parties to the Convention on the Prevention of Marine Pollution by Dumping of Wastes and Other Matter 1972 (the London Convention) and the 1996 London Protocol have taken steps to address potential harm to the marine environment from the evaluation of new experimental technologies designed to reduce carbon dioxide in the atmosphere.

  • Shipping Offshore, Maritime and Offshore Emergency Response, Ocean Industries, Environmental Law

    2020

    Maritime casualties in the High North

    As noted in the white paper on Norway's Arctic policy (the High North Report), maritime activities in the High North are expected to increase as a result of improved accessibility resulting from melting sea-ice, the high potential for increased commercial exploitation of marine and offshore resources, and successful marketing of the Arctic as a tourist destination. With increased activities comes an increased risk of accidents.

  • Shipping Offshore, Environmental law, Sustainability, Ocean Industries

    2020

    The High North Report – an "ocean of opportunities"?

    On 27 November 2020 the Norwegian government presented a white paper on the High North with the title "People, opportunities and Norwegian interests in the Arctic" (the "High North Report"). The report is the first white paper on the Northern region in nine years, and sets out the government's policy on foreign relations, climate change and environmental concerns, community development, business, infrastructure, transport and safety.

  • Shipping Offshore, Environmental law, Sustainability, Ocean Industries

    2020

    Beefing up emission and fuel standards in the Arctic

    It has been a long time coming, and on 20 November 2020 the 75th session of the IMO Marine Environment Protection Committee (MEPC 75) approved a "ban" on the use and carriage of so-called heavy fuel oil ("HFO") in the Arctic. The new regulation makes amendments to the Polar Code, as implemented in MARPOL. It is expected that the proposed amendments will be formally adopted at the next MEPC session in June 2021. However, more stringent standards have already been proposed by the Norwegian government for the area surrounding Svalbard.

  • Shipping Offshore, Environmental law, Sustainability, Ocean Industries

    2020

    Norwegian ocean management – modern or still very traditional?

    With Jens Evensen in the forefront, Norway was a pioneer in the development of the law of the sea in the 70s. However, the traditional law of the sea as we know it, with its zonal and sectoral approach, is not sustainable. Through the High North Report, the Norwegian government is laying the foundations for what will be Norwegian foreign policy for the next 10 years. Is Norway once again capable of being a pioneer in the development of a modern law of the sea?

  • Shipping Offshore, Sustainability, Ocean Industries

    2020

    Green investments in ocean industries

    The intersection between green investments and ocean industries continue to attract increased attention from investors, financiers and companies in search of new business opportunities.