SEA CHALLENGER

Three bodies have been located inside the wreck of Borr Drilling's Prospector 5 jack-up rig, which sank offshore Gabon on October 24, with search and rescue operations continuing for two people still missing, according to the Gabonese Navy.The bodies were discovered during underwater inspections using a remotely operated vehicle (ROV), Vice-Admiral Charles Hubert Bekale-Meyong, chief of staff of the Gabonese Navy and commander of the search-and-rescue operation, confirmed in an October 28 statement.The images obtained did not allow the bodies to be identified, while technical teams were preparing operations to recover them.

Seven Japanese companies have agreed to develop an integrated ammonia fuel supply chain and build four ammonia-fueled car carriers, establishing a commercial bunkering operation in Japan's Chubu region to support the vessels when they enter service in 2030.The agreement brings together shipowners NYK Line and Kawasaki Kisen Kaisha (“K” LINE), shipbuilders Imabari Shipbuilding, Shin Kurushima Dockyard, Nihon Shipyard and Kyokuyo Shipyard, as well as energy company JERA.The project encompasses green ammonia procurement, shoreside storage and loading infrastructure, construction of a dedicated ammonia bunkering vessel, and the design, construction and operation of four car carriers.

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.

"Geopolitical disruptions continue to cloud the dry bulk market outlook. The effective closure of the Strait of Hormuz remains the largest source of uncertainty, while attacks on ships and port infrastructure in the Black Sea have added another layer of risk,” says Filipe Gouveia, Shipping Analysis Manager at BIMCO.Typically, around 4% of dry bulk demand sails via the Strait of Hormuz. Alternative routes have softened the impact of the disruption but have been unable to replace pre-war volumes. The disruption has also tightened energy and fertiliser supplies, weighing on global economic growth and raising concerns over food security.