Shell had been spending heavily in offshore wind, aiming to leverage its experience extracting oil and gas at sea to become a leader in the technology. But soaring costs in the sector and a renewed focus on driving returns for shareholders under CEO Wael Sawan has led the company to back away from the energy source.
Seatrium awarded Heavy Lift Vessel contract for Japan’s offshore wind market
Seatrium has been awarded a contract by Japan-based Penta-Ocean Construction (POC) to carry out the engineering, procurement and construction for a 5,000-ton fully-revolving Heavy Lift Vessel project for the Japanese offshore wind market.