U.S.-based offshore drilling contractor Noble Corporation on Wednesday announced it has completed its acquisition of peer Diamond Offshore Drilling. The merger creates the industry's largest fleet of 7th generation dual-BOP drillships and adds 4.8 rig years and approximately $2 billion to the Noble backlog, which now stands at $6.7 billion.
Noble Corporation has entered into a definitive agreement to acquire Diamond Offshore, creating a fleet of 41 rigs - including 28 floaters and 13 jack-ups, and a combined backlog of approximately $6.5 billion.Noble will acquire Diamond in a stock plus cash transaction, whereby Diamond shareholders will receive 0.2316 shares of Noble, plus cash consideration of $5.
Spiking ocean shipping rates, vessel backups at seaports and empty container shortages - issues that wreaked havoc on global trade during the COVID pandemic supply-chain crisis - are back as the industry enters its busy season."There is a cocktail of uncertainty and disruption across global ocean freight supply chains," said Peter Sand, chief analyst at pricing platform Xeneta.
The U.K. on Thursday said its Royal Navy had shot down a missile fired by the Iran-backed Houthis from Yemen targeting a merchant vessel in the Gulf of Aden."The UK continues to be at the forefront of the international response to the Iranian-backed Houthis’ dangerous attacks on commercial vessels, which have claimed the lives of international mariners
Singapore-based Seatrium has secured a series of major contracts for vessel repairs, upgrades and conversions, set for completion by the end of 2025.With an aggregate value of S$350 million ($259 million), the contracts have reinforced Seatrium’s reputation as a one of the market leaders in vessel repairs, upgrades and conversions.
The November edition of Marine News magazine highlighted a selection of the most notable American newbuilds delivered of 2023—from a first-of-its-kind green towboat, to the lead vessel in a series of game-changing ships to train U.S. mariners.Empire StateAs the lead vessel in a series of five new training ships being constructed to serve America's state maritime academies
Bourbon Logistics has secured a new fully integrated logistics contract by an unnamed oil and gas major to support its exploration campaign and the drilling of its first well in the waters of southern Namibia.The campaign, estimated to last about six months, marks a significant step forward in the client’s strategy
Marine transportation and experiences company Hornblower Group announced it has appointed Mike Flaskey as its new chief executive officer.Flaskey will lead Hornblower through its next phase following the company's recent emergence from Chapter 11 bankruptcy under new ownership. He succeeds outgoing CEO Kevin Rabbitt.
The United States reserves its domestic maritime trade to vessels “built in the United States” under a set of laws popularly referred to as the “Jones Act.” What qualifies as “U.S. built” under the law and U.S. Coast Guard interpretations was recently tested in the U.S. Court of Appeals for the Fifth Circuit case of Diamond Services Corp. v. Curtin Maritime Corp.
Analysts and commentators are quick to point out that fossil fuels will power maritime equipment, and indeed dominate the fueling marketplace, well into the future. However, they will do so alongside new fuels, and new technologies, that will be introduced to the maritime sector in the coming years.
Esgian provides an update on Noble and Diamond Offshore’s announcement of merger plans in its Week 24 Rig Analytics Market Roundup.Report SummaryContractsADES has completed the signing of a drilling contract for a jackup with Suez Oil Company (SUCO) in Egypt.Mergers & AcquisitionsNoble Corporation and Diamond Offshore Drilling have entered into a definitive merger agreement under which Noble
Industry trade group the Offshore Marine Service Association (OMSA) announced the addition of four CEOs to its board of directors.The new board members include Wes Bordelon, Chief Executive Officer, Bordelon Marine; Stacy Jo Stanley, Chief Executive Officer, Offshore Oil Services, Inc.