TotalEnergies and Chevron are advancing offshore drilling and appraisal work in Nigeria as West Africa’s deepwater sector attracts renewed investment interest.
The Middle East jackup market has slowed after escalating regional conflict disrupted offshore drilling activity across the Arabian Gulf. Westwood said rig suspensions, delayed drilling campaigns and contract terminations pushed marketed fleet utilization down sharply, delaying the expected recovery in 2026.
The IEA warned that disruption in the Strait of Hormuz could push global oil demand into contraction in 2026 as supply losses and inventory declines accelerate.
Davie Defense finalized a $3.5 billion contract to build five Arctic Security Cutters for the U.S. Coast Guard, with construction split between Finland and Texas under the broader U.S. Arctic fleet expansion strategy.
South Korea announced its K-Shipbuilding Future Vision, including public vessel orders, KRW 525 billion in technology investment and KRW 16 trillion in trade finance.
IQIP launched a hybrid offshore foundation installation system designed for hard-rock seabed conditions, combining drilling and pile-driving for offshore wind monopile projects.
GE Vernova will use Port of Nigg to support Dogger Bank turbine logistics as installation work advances at the 3.6 GW North Sea wind farm.
DP World has launched end-to-end cargo war risk insurance covering ocean and air transport, port storage and inland delivery across Middle East trade routes.
Dajin Heavy Industry is advancing plans for a Hong Kong IPO to support offshore engineering expansion, global market growth and strategic investments across the offshore wind sector.
