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
Hanwha Ocean has delivered the Wind Mover wind turbine installation vessel (WTIV) to offshore wind contractor Cadeler, completing the second vessel in the company’s M-class series about one month ahead of schedule.The vessel was formally signed over on November 28 and sailed away on December 2, following a naming ceremony at Hanwha Ocean’s shipyard in Korea.
Singapore-based offshore contractor Seatrium has received a termination of the $475 million contract for the construction of a Wind Turbine Installation Vessel (WTIV) that was set for deployment at Equinor's Empire Wind 1 offshore wind farm in the United States.The contract - secured by Sembcorp Marine Rigs & Floaters in 2022
European defense giant Rheinmetall has signalled interest in taking over German shipbuilder Naval Vessels Luerssen, industry sources told Reuters on Wednesday, as the Duesseldorf-based firm looks to expand into the naval business.According to the Bild newspaper, which first reported Rheinmetall's plans, the supervisory board intends to consider the purchase in the coming weeks.
The Australian Government is accelerating the delivery of a larger and more lethal surface combatant fleet with the selection of the upgraded Japanese Mogami-class frigate as the preferred platform for the Royal Australian Navy’s future fleet of general purpose frigates.Mitsubishi Heavy Industries’ Mogami-class frigate was assessed as best able to quickly meet the capability requirements and
A towing incident has occurred on Saudi oil and gas drilling contractor ADES Holding’s jack-up barge Admarine 12, which capsized offshore Eqypt, killing four people, while three remain missing.The incident occurred on Tuesday, July 1, while the barge was being towed to a new location in Egyptian territorial waters.
Norwegian oil and gas company Aker BP has completed the installation of a jacket for a new production platform at the Valhall field in the Southern North Sea.The Valhall production and wellhead platform (PWP) jacket has been installed with the support from Allseas' Pioneering Spirit and Heerema Marine Contractors' Sleipnir, two of the world’s largest offshore vessels
Van Oord's new offshore wind installation vessel Boreas was officially christened on June 18 in Rotterdam. The event marked a milestone in Van Oord’s commitment to enhancing the energy transition. In addition, Van Oord announced that it had become the first marine contractor to receive approval on science-based targets for its decarbonization approach. The Boreas was christened by Ms.
One person has been reported missing following the fire incident that occurred on May 20 at Chevron’s Benguela Belize Lobito Tomboco (BBLT) deepwater platform off Angola, that left 17 people injured.The report about the missing person was shared by Angola’s National Agency for Oil, Gas and Biofuels (ANPG).
On April 30, Senator Mark Kelly (D-AZ), together with several original co-sponsors, reintroduced the SHIPS for America Act in the U.S. Senate, first introduced in December 2024, divided into two bills. Companion legislation was also introduced in the U.S. House of Representatives by Rep. Trent Kelly (R-MS) and Rep. John Garamendi (D-CA). This is a major, historic effort to revitalize the U.S.
Belgium-based offshore installation services company DEME has completed the acquisition Havfram, an offshore wind installation contractor based in Norway, in a deal valued at approximately $1.02 billion (€900 million).The transaction, first announced in April 2025, has passed all customary closing conditions.
The Unified Command, consisting of the US Coast Guard, Spectrum OpCo (Operator), and the Louisiana Oil Spill Coordinator's Office (LOSCO), continue to respond an oil and natural gas release in coastal Louisiana.This spill occurred on April 26 in a marsh environment near the Garden Island Bay Production Facility company's well in Plaquemines Parish, southeast of New Orleans, Louisiana.