• Home
  • News
  • GAC Norway joins Hyvalue initiative
  • 2022 June 22 13:22

    GAC Norway joins Hyvalue initiative

    GAC Norway has signed up to play a vital role in a major Norwegian hydrogen energy project as part of the GAC Group’s commitment to sustainability and accelerating decarbonisation across the wider maritime industry, according to the company's release.

    The HyValue initiative will look to develop knowledge, methodology and innovative solutions for the production of hydrogen energy carriers in a bid to further Norway’s transition to a low emission society. The project is being led by NORCE, one of Norway’s largest independent research institutes, and will receive funding of NOK15 million per year until 2030 from the Norwegian government’s Ministry of Petroleum and Energy.

    GAC Norway will leverage the wider GAC Group’s experience and expertise of low carbon and sustainable bunker fuels to support the HyValue initiative for the development of strategies for the storage, handling and bunkering of hydrogen in maritime applications. It will also assist with the development of maritime logistics and supply chain mechanisms, as well as understanding regulations and financial incentives to promote the advantages of hydrogen as an alternative fuel source for shipping.

    Hydrogen provides a greener alternative to traditional bunker fuels as it can be produced renewably from electrical energy and bio-renewable processes, is carbon and sulphur free and will disperse organically in the event of a leak. Hydrogen-powered ferries and smaller shipping vessels are currently in use in Europe and North America, and several major oil and gas players are investing in hydrogen production projects in Europe and Asia. However, there is still a need to develop large-scale storage and handling facilities for hydrogen as it must be compressed into a liquid and kept under high pressure for use as a fuel.

    The Group’s global network combined with GAC Bunker Fuels’ strong relationships with fuel suppliers and ports, means the company is ideally placed to play a leading role in the supply of alternative and sustainable fuels, including hydrogen, as they become more widely available.

    GAC Norway’s partnership with HyValue is the latest step in the wider GAC Group’s sustainability strategy, which includes a commitment to UN Sustainable Development Goals and a net carbon zero future.

    GAC is a global provider of integrated shipping, logistics and marine services. Emphasising world-class performance, a long-term approach, innovation, ethics and a strong human touch, GAC delivers a flexible and value-adding portfolio to help customers achieve their strategic goals. Established since 1956, the privately-owned group employs around 8,000 people in more than 300 offices worldwide.




2022 July 4

18:22 Vestas pioneers world’s first hydrogen-powered offshore service vessel
17:59 Plans on modernization of BAM and Transsib are outdated - Yury Trutnev
17:53 MARIN to have new defense department with Pepijn de Jong as manager
17:28 World's largest civilian hospital ship in port in Senegal
16:47 Programme on development of diesel engines manufacture to cover domestic demand in full - Mikhail Mishustin
16:29 ClassNK releases latest “PrimeShip-PSC Intelligence” mobile application
15:56 Sovcomflot shareholders decide not to allocate payment of dividends
15:34 TGS named successful bidder in the auction process for ION assets
15:34 Vestas secures 266 MW order in the USA
15:18 Saudi Global Ports awards contract for future-ready quay cranes to Shanghai ZPMC
15:00 Berth in Ugolniye Kopi is 50% complete — Chukotka Governor
14:39 Fire at Mongstad extinguished - Equinor
14:21 ClassNK releases comprehensively revised structural rules
14:10 ASCO's ferry Professor Gul returns to operation after overhaul
13:47 Petrofac and Hitachi Energy to collaborate in growing offshore wind market
13:34 Fishery Shipowners Association President Aleksey Osintsev to speak at Ship Repair, Modernization and Components Conference
13:17 Boskalis expands presence in the US with opening of new offshore renewables office in Providence, Rhode island
12:55 Amur Shipyard lays down corvette Bystry of Project 20385
12:33 BPA's statistics review shows three-month port traffic was up 7.3% to 111.8 million tonnes
12:19 Brisbane offers world-class facilities as it joins global cruise revival
12:03 Eidesvik Offshore ASA appoints new CFO
11:25 TransContainer launched multimodal service between Russia and India via Novorossiysk and Suez Canal
11:07 MarineMax Naples names new Vice President
10:32 Holland America Line sees a surge in demand for Alaska cruising
10:16 Maritime humanitarian corridors for foreign vessels operate in the Black Sea and in the Azov Sea
09:47 R-Flot launches two buoy tenders of Project 3052
09:19 Crude oil futures resume growth
09:00 MABUX: Irregular fluctuations to prevail in Global bunker market on Jul 04

2022 July 3

15:11 Van Oord orders second pair of new generation water injection vessels
14:03 Manor Renewable Energy welcomes two new additions to the fleet
12:52 Seabourn takes delivery of Seabourne Venture, the Line's first purpose-built ultra-luxury expedition ship
10:43 INEOS holds a naming ceremony for its new ethane carrier the Pacific INEOS Grenadier

2022 July 2

14:51 Two MOL-operated vessels earn 2021 'Best Quality Ship Awards'
12:18 Kongsberg Maritime wins stabiliser contract for CMAL's two new ferries
11:34 INEOS in Köln receives state funding for Green Hydrogen feasibility study to cut CO2 by more than 100,000 tonnes per year
10:46 Gary Wilson retires from ABP

2022 July 1

18:21 “K” Line has enhanced the shipboard cyber security with surveillance of ship’s communication 24/7
17:57 IAA PortNews’ summary of previous week news
17:34 INPEX, IHI, MOL demonstrate clean ammonia supply chain linking UAE and Japan
17:18 Stolt-Nielsen Limited reports unaudited results for the 2Q and 1H, 2022
17:00 Emperium launches electric catamaran Ecohod
16:44 R-FLOT lays down two small cruise ships
16:23 Austal USA awarded up to US$3.3 bn contract for 11 USCG offshore patrol cutters
16:07 Freeport LNG says it may resume partial liquefication operations in early Oct 2022
15:47 TotalEnergies Marine Fuels and MOL Group complete first biofuel bunker operation of a vehicle carrier in Singapore
15:28 State Duma approves bill on increasing fines for violation of coal handling regulations
15:10 DEME Group lists on Euronext Brussels
14:49 CPC Marine Terminal operates two of its three Single Point Moorings
14:27 CPC Terminal paid over RUB 5.28 billion for recovery of damage caused by oil spill
14:27 PM Fumio Kishida says Sakhalin 2’s new operator will not cause an immediate halt in LNG shipments to Japan
14:05 Spartacus nominated for KNVTS Ship of the Year
13:42 2 MOL-operated vessels earn 2021 'Best Quality Ship Awards'
13:20 Port of Houston container activity rises 20% in May 2022
13:03 Petersburg Oil Terminal confirms its ISO compliance
12:44 Monthly LNG imports from USA to EU in June for the first time exceeded gas supplied via pipeline from Russia – IEA
12:40 Solstad Offshore announces contract awards for two CSVs
12:25 Russian Railways' network loading fell by 2.8% in HI’2022
12:10 Maersk Tankers launches a new digital solution to track and report vessel emissions
12:00 Hiab launches next generation LOGLIFT forestry cranes
11:42 RF Government to establish new operator of Sakhalin Energy