Across industries, companies have been intensifying their focus on cybersecurity. This is a direct consequence of the expanding role that digitization is playing in their business and operating models and the demonstrated potential for significant damage resulting from a successful cyberattack.
Tankers are currently the most profitable vessels in shipping with the cost to charter them remaining high by comparison with other ship types. These freight rates are expected to stay steady for the next 18 months despite a delivery boom of new tankers scheduled for late 2016, according to Devlin McStay, data analyst with IHS Maritime & Trade.
In 2016, the U.S. will learn if renewable energy can survive without government support. The most significant tax credit for solar power will expire at the end of 2016, and the biggest one for wind already has.
President Obama's decision to reject the Keystone XL pipeline could come with a heavy side of tank cars. Canadian energy companies need about a dozen crude-laden trains each day to replace the volume of oil that could have been transported through KXL.
Natural gas and renewable power plants will account for almost all the new capacity to be installed in the United States for the "foreseeable future" while the number of coal-fired power plants will continue to decrease, according to a report by PEW Charitable Trusts.
LNG shipping freight rates continue to be under pressure from weak Asian demand and a growing fleet. Shipowners are now pinning hopes on a revival in European demand. However, European LNG demand growth will not be sufficient to raise freight rates, according to the newly launched LNG Forecaster report published by global shipping consultancy Drewry.
After watching the price of oil and the size of their profits plunge, a dozen top executives from some of the nation's largest oil exploration companies flew to Washington late last winter on an urgent mission: push Congress and the White House to allow unlimited exports of American crude oil.
Speaking at this year's International Union of Marine Insurance conference in Berlin, Simon Williams, chairman of IUMI's offshore energy committee, reported continuous growth in the sector with 2015 capacity reaching around $7bn, although he cautioned that $5.5bn was more realistic.
