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Offshore drilling giant Transocean has secured two extensions and one new contract for three of its rigs. According to information provided in the company’s fleet status report, an unnamed operator awarded a two-well contract extension to the 2016-built drillship Deepwater Conqueror in the US Gulf of Mexico. The rig has been working for the operator …
https://splash247.com/transocean-secures-new-gulf-of-mexico-and-africa-rig-work/
https://splash247.com/transocean-secures-new-gulf-of-mexico-and-africa-rig-work/Offshore driller Valaris has secured a batch of new contracts and extensions for its rig fleet, lifting its backlog to $4.6bn. Its 2015-built Valaris DS-18 drillship won a letter of award from an unnamed client for a two-well exploration program. The program is expected to commence in the fourth quarter of 2026 and last up …
https://splash247.com/valaris-lands-new-contracts-as-backlog-reaches-4-6bn/
https://splash247.com/valaris-lands-new-contracts-as-backlog-reaches-4-6bn/Limited demolition supply and intense buyer competition have created one of the strongest ship recycling markets in years. Hitesh Vyas from Wirana Shipping reports. Shipowners are currently benefiting from one of the strongest recycling markets seen in recent years. Demand from cash buyers and recycling yards remains high, yet the supply of end-of-life vessels is …
https://splash247.com/shipowners-shouldnt-assume-todays-strong-recycling-market-will-last/
https://splash247.com/shipowners-shouldnt-assume-todays-strong-recycling-market-will-last/Former seafarer Sean Dalton has been nominated as the next president of the International Union of Marine Insurance, putting the Munich Re executive in line to lead the 152-year-old association. Dalton is the sole nominee and is expected to be elected by the IUMI Council on September 23 during the organisation’s annual conference in Rotterdam. …
https://splash247.com/sean-dalton-lined-up-to-become-iumi-president/
https://splash247.com/sean-dalton-lined-up-to-become-iumi-president/Greek owner Centrofin has been linked to an order for six LR2 tankers at China’s Titan Wind Energy, handing the merchant shipbuilding newcomer a contract worth as much as $480m. Shenzhen-listed Titan Wind said an offshore engineering subsidiary had signed for six firm 114,000 dwt product and crude tankers with a unit of an unnamed …
https://splash247.com/centrofin-tied-to-six-ship-titan-wind-tanker-order/
https://splash247.com/centrofin-tied-to-six-ship-titan-wind-tanker-order/Machine learning is improving freight-rate forecasting, but shipping’s volatility remains beyond the reach of any model. A review of 28 studies published between 2012 and 2024 found growing use of vessel supply, commodity demand, bunker prices and economic indicators to predict markets. Yet it also concluded that geopolitical shocks, regulation and sudden supply disruptions cannot …
https://splash247.com/shippings-ai-forecasters-run-into-the-limits-of-history/
https://splash247.com/shippings-ai-forecasters-run-into-the-limits-of-history/The Panama Canal is imposing two further draft reductions at its neopanamax locks as falling water levels and a strengthening El Niño revive memories of the disruption seen in 2023 and 2024. From August 26, the maximum authorised draft will fall to 48 feet (14.63 m), before being reduced again to 47.5 feet (14.48 m) …
https://splash247.com/panama-tightens-canal-draft-limits-again/
https://splash247.com/panama-tightens-canal-draft-limits-again/Nasdaq-listed OceanPal has completed its exit from shipping, selling the holding company behind its remaining fleet as the former Diana Shipping spin-off shifts entirely into artificial intelligence and digital assets. The company transferred all its interests in OP Vessel Holdco to Sezali Inc on July 31. Rather than receiving cash, OceanPal secured the cancellation of …
https://splash247.com/oceanpal-exits-shipping-to-go-all-in-on-ai/
https://splash247.com/oceanpal-exits-shipping-to-go-all-in-on-ai/Iran and Oman are expected to unveil a new traffic arrangement for the Strait of Hormuz imminently, potentially redrawing established shipping lanes and giving Tehran a formal role in overseeing vessels entering the Persian Gulf. Iran’s foreign ministry said the two countries had agreed the geographical coordinates of a proposed route and were completing a …
https://splash247.com/iran-and-oman-close-in-on-new-hormuz-traffic-regime/
https://splash247.com/iran-and-oman-close-in-on-new-hormuz-traffic-regime/A surge in attacks on ships, ports and export terminals in the Black Sea is disrupting global supplies of grain and oil, turning the region into the latest strategic trade chokepoint to be hit by escalating conflict.The Black Sea is a vital route for shipments of grain…
https://www.marinelink.com/news/black-sea-attacks-strain-global-commodity-541820
https://www.marinelink.com/news/black-sea-attacks-strain-global-commodity-541820