The Baltic Sea could become a leader in climate-smart shipping – but unclear regulations are slowing progress
The Baltic Sea region has strong potential to take a lead in the transition to climate-smart marine fuels, but faces delays due to high costs and unclear political policy direction. This is highlighted in a new report from IVL Swedish Environmental Research Institute, in which Port of Luleå is studied.
The new report, which examines market conditions among the eight countries around the Baltic Sea, shows that hydrogen-based electrofuels – such as electro-ammonia and electro-methanol – will be crucial for meeting climate targets. Shipping is one of the sectors where transition to fossil-free operations is progressing slowly. The report shows that energy companies and ports see these new fuels as essential in the long term, but stakeholders hesitate to invest because of uncertainity about future demand or which fuel type will dominate. John Sundvall, Technical Director at Port of Luleå, confirms this and sees the development of renewable fuels as a necessity to meet future requirements from shipping companies and industry.
– In northern Sweden, a major energy transition in industry is underway, which could also benefit shipping. As a transport hub and one of EU’s strategically designated ports, we naturally want to contribute to this transition. It is possible to build infrastructure here for both bunkering and export, but for us to invest, the market needs to become more secure, he says.
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Originally published on 1 Dec
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The coalition parties have agreed that either the state or Elering will support the construction of energy storage capacities. The Ministry of Climate historically believed energy storage would be built on market demand. The Ministry of Education and Research, Kristina Kallas stated, “If we purchase offshore wind energy on a large scale and develop these capabilities, we must also ensure that we have the infrastructure for long duration energy storage.” She emphasised that constructing an offshore wind facility without appropriate energy storage poses a significant risk of energy being exported.
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Originally published on 27 Jan
The Estonian Ministry of Economic Affairs and Communications has announced the launch of a €100 million Defence Fund, established to support the development of innovative defence and security capabilities to meet the growing global demand for new solutions. Managed by national fund manager SmartCap, the fund will provide direct investments to defence companies and funds investing in military and dual-use technologies.
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Originally published on 21 Jan
Doubts have been raised about Energiø Bornholm’s relevance and economy, but the project has never been more important. Besides being a crucial project in the European fight against climate change, the energy island has every opportunity to become a good business for Denmark.
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Originally published on 15 Jan
US healthcare products manufacturer Hollister Incorporated is expanding its Lithuanian operations. This month, the company has officially opened its financial services center, Hollister SSC Lithuania, complementing its manufacturing facility, Hollister Lietuva, located in the Kaunas Free Economic Zone. Building on this growth, the company has announced plans to establish a new product development (NPD) center at its Lithuanian facility later in the year.
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Originally published on 14 Jan
Estonia opened the first Business Hub in U.S. Located at the Embassy of Estonia in Washington, D.C., the Business Hub will serve as a bridge between Estonian companies and the vast business opportunities in the U.S. market. A delegation of Estonian defence industry innovators was present at the opening event, also attending the annual AUSA conference.
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Originally published on 17 Oct