ALBERT MÆRSK

Siem Industries has ordered two offshore subsea construction vessels (OSCVs) from Fujian Mawei Shipbuilding in China, with deliveries scheduled for 2029 and 2030.Each vessel will be equipped with a 400-tonne active heave compensated (AHC) subsea crane and an additional 50-tonne AHC subsea crane to support subsea construction and offshore support operations.The vessels will measure approximately 145 meters in length and 27 meters in beam, with designs developed by Sirius Design & Integration in cooperation with Siem Industries and the shipyard.

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.

HD Hyundai and Kiewit Maritime Co. have announced plans to establish a joint venture to develop a new shipyard in the United States, targeting the start of construction in 2027 and full-scale operations in 2029.The proposed venture, HD Kiewit Shipbuilding LLC, would combine HD Hyundai's shipbuilding technology and shipyard operating expertise with Kiewit's engineering, construction and fabrication capabilities, the companies said.The shipyard is planned for an existing industrial site with deep water and unrestricted access to the Gulf, with the facility potentially supporting up to 3,000 jobs at full operating capacity.

Saipem and Egypt's Modern Drilling Company (MDC) have signed a memorandum of understanding (MoU) to explore offshore drilling opportunities in Egypt, with the potential to extend their cooperation to other countries.The non-exclusive agreement covers the identification and development of new offshore drilling business opportunities, with the companies considering different forms of cooperation depending on individual projects.Potential arrangements include joint ventures, consortia and project-specific agreements.The companies will establish a joint coordination committee to monitor market developments, identify potential projects and determine the next steps in their cooperation.