Offshore drilling contractor Transocean has agreed to acquire Valaris in an all-stock transaction valued at about $5.8 billion, creating one of the world’s largest offshore drilling contractors with a fleet of 73 drilling rigs.The combined company will have an enterprise value of roughly $17 billion
The U.S. Trade Representative's office has proposed charging up to $1.5 million for Chinese-built vessels entering U.S. ports as part of its investigation into China's growing domination of the global shipbuilding, maritime and logistics sectors.USTR said in a January 16 report on a probe launched during the administration of former President Joe Biden that China increased its share of global
J.F. Lehman & Company, an alternative asset manager focused on the aerospace, defense, government, maritime, environmental and infrastructure sectors, has announced that investment affiliates, including JFL Equity Investors VI, L.P., have acquired Forged Solutions Group, Inc. (FSG).
French offshore marine services company Bourbon has completed a financial and capital restructuring, with Davidson Kempner Capital Management LP and Fortress Investment Group becoming its majority shareholders.The restructuring marks the start of a new strategic phase aimed at improving profitability, enhancing organizational efficiency, and expanding market presence.
The Shipbuilders Council of America (SCA), the national association representing the U.S. shipbuilding, maintenance, and repair industry, announced its annual member safety awards for the 2024 calendar year. This year, 14 shipyards are receiving awards for their achievements in safety. The shipbuilding industry continues to improve on safety metrics year after year.
President Vladimir Putin on Thursday launched a nuclear-powered submarine equipped with hypersonic Zircon missiles capable of travelling at several times the speed of sound.Russian news agencies, referring to a video link from the Arctic port of Murmansk, said Putin launched the vessel, named Perm after a city in the Urals, with the order: "I hereby authorise!"The Russian agencies
General Dynamics Electric Boat has been awarded a $1 billion undefinitized contract modification allowing Electric Boat to purchase long lead time materials for Virginia Class Block VI submarines as detailed in a U.S. Department of Defense contract announcement.Virginia-class submarines are designed from the keel up for the full range of 21st-century mission requirements
Intellian Technologies Inc., a global technology solutions provider of multi-constellation satellite user terminals and Eutelsat Group, the only GEO-LEO operator in satellite communications, announced that the new Enterprise Flat Panels are now available exclusively on Eutelsat’s OneWeb LEO network.
Resolve Marine said it will merge operations, equipment and personnel with the marine division of Construction Solutions International, expanding Resolve Marine Service Centers in the U.S. Gulf region. Construction Solutions International is a regional provider of industrial marine and commercial diving services and supports industries across the Theodore Industrial Canal and West Mobile, Alabama.
Florida-headquartered Seascour has struck a second deal to supply its organic marine descaler product on one of the Great Lakes most famous vessels, The Wilfred Sykes.The iconic steam powered bulk freighter built in 1949 operated by Indiana based Central Marine Logistics, has just received its second application of Seascour.
ABS Wavesight, the ABS-affiliated software-as-a-service (SaaS) company, has been chosen by Navios Maritime Partners L.P. to provide a single integrated platform to support compliance with the FuelEU Maritime Regulation and EU Emissions Trading Scheme (ETS) requirements.As of January 1, 2025
Autonomous navigation solution provider Avikus, a subsidiary of HD Hyundai, has joined the newly established MIT Maritime Consortium.Launched at the Massachusetts Institute of Technology (MIT) on March 18, 2025, the consortium brings together prominent maritime organizations to drive innovation and set international standards in autonomous navigation and maritime decarbonization.