Singapore's Seatrium has secured an agreement with Keppel's subsidiary RigCo to complete construction work on four offshore drilling rigs under an existing master services arrangement, with the total estimated contract value exceeding $390 million (S$500 million).The four rigs comprise a premium seventh-generation drillship, a harsh environment jack-up and two mid-water semisubmersibles designed for operations in the harsh conditions of Northwest Europe.The construction work will be funded by existing cash retained in RigCo, a wholly-owned subsidiary of Keppel.
Borr Drilling's Prospector 5 jack-up rig has sunk offshore Gabon after experiencing a punch-through event during preload operations that caused it to lose stability, leaving five people missing and 110 safely accounted for among the 115 personnel on board.In its latest update on October 26, Borr Drilling said extensive marine and air search and rescue operations were continuing for the five missing individuals, while the 110 personnel accounted for were being brought ashore in Gabon, where care and support was being provided.
Saildrone announced a year-long mission with the Swedish Armed Forces to deliver persistent maritime domain awareness across Sweden’s territorial waters and exclusive economic zone in the Baltic Sea.Under the agreement, Saildrone will deploy and operate four Voyager unmanned surface vehicles (USVs) for 360 days each, representing 1,440 contracted vehicle-days of continuous maritime security operations.This deployment marks the first national deployment of Saildrone USVs under the Nordic Defence Cooperation (NORDEFCO) framework that enables participating Nordic nations to rapidly procure
Top officials from Saudi Arabia, Turkey and Pakistan met Iranian officials in Tehran on Monday in a bid to de-escalate the Middle East conflict, as Yemen's Houthis launched new attacks on Saudi Arabia and Egypt approved defence support for the Gulf kingdom.The talks were the first high-level contact between Iran and the three nations — which signed the Mecca mutual defence pact in August — since a war that began with US and Israeli strikes on Iran also spread to Saudi Arabia and Yemen.
Oil prices fell $2 a barrel on Monday amid hopes of easing hostilities between the United States and Iran, but persistent attacks on key producer Saudi Arabia kept investors wary and prices near six-month highs.Brent crude futures were down $2.03, or 1.7%, at $114.70 at 10:37 a.m. ET (1437 GMT), while US West Texas Intermediate crude futures were down $2.60, or 2.5%, at $100.71 per barrel.On Friday, prices settled more than $3 higher, with Brent finishing the week up 6% and WTI ending the week 2.3% higher.
Reach Subsea and Eidesvik Offshore have completed the sale of the inspection, maintenance and repair (IMR) vessel Viking Reach, with the vessel delivered to its new owners on October 26.The transaction was completed through Eidesvik Reach, a joint venture between Reach Subsea and Eidesvik Offshore, following a deal first announced in August 2026.Neither company identified the buyer in its latest announcement.Although not confirmed by October announcement, Asso Group reported on August 4 that it had signed a memorandum of agreement to acquire Viking Reach
German testing specialist CM Technologies (CMT) advises that shipowners and operators need to maintain close checks on fuel quality following a series of off-specification alerts at major bunkering ports and warns that contaminated or unstable fuels can result in costly engine damage and vessel downtime.The advisory follows reports of fuel quality problems at Antwerp, Rotterdam, Houston, Singapore, Hong Kong, Piraeus and other bunkering locations during the past six months, involving excessive catalytic fines, poor fuel stability, high sediment levels and low flash points.
The Swedish industrial Group Stena AB, owner of ferry operator Stena Line, has entered into an agreement to acquire the Norwegian shipping company Color Line, subject to regulatory approval. The transaction will bring together two companies with complementary operations in European passenger and freight transport, creating added value and benefits for both companies’ customers.Following completion, Stena intends for Color Line to continue as a separate, independent business and brand, with local management in Norway and Norwegian-registered ships.
DP World is working with Deniz Yaşamını Koruma Derneği (Türkiye’s Marine Life Conservation Society) to remove ghost nets from the Sea of Marmara and give the recovered material a second life. Ghost nets can take up to 200 years to degrade, and left under the waves, they continue to trap and kill marine life, from sharks and turtles to much smaller organisms, long after they have been lost or abandoned.The project aims to remove more than 1,000 m² of nets from the seabed around the Princes’ Islands, or about 800 kg of material.
The Chouest Group and the founders of Horizon Maritime Services have announced a strategic partnership that includes the acquisition of the Canadian offshore and marine services company from CFFI and its lender, HPS.The transaction expands the Louisiana-based Chouest Group's presence in Canada, combining its global offshore support fleet, subsea services, shipbuilding, engineering and marine technology capabilities with Horizon Maritime's established operations across Canada's Atlantic, Pacific and Arctic regions.Based in St.
Shipping through Romania's Black Sea port of Constanta was stable and grain exports had increased by end-September, the port authority said, despite a spike in marine insurance premiums driven by increased attacks on cargo vessels.In September, London's marine insurance market widened the area in the Black Sea it lists as high risk, as Russia's war in Ukraine escalated, with only the territorial waters of Georgia, Bulgaria, Romania and Turkey exempted.The Black Sea is a vital route for grain, crude oil and refined products and the four countries share its waters alongside Ukraine and Russia.
Thermal Dynamics, an ESAB brand, unveiled its next generation of manual plasma cutters, Cutmaster 90X and Cutmaster 110X, in booth #S29025 at FABTECH 2026 in Las Vegas. The Cutmaster X series features a consumables design and patented arc starting mechanism that has no moving parts. After establishing airflow, it starts the arc in a few thousandths of a second, improving cutting performance.The Cutmaster X series also features the patented 1Torch X, which has an articulating head that can flex 30 to 90 degrees, then lock in place, to improve joint access for cutting and gouging.