Despite Sea Disputes, Philippines, China Tensions Calm
The Philippines' ambassador to the United States on Tuesday underscored the need to "cool" the temperature with China, after both sides signaled their willingness to set aside tensions in the South China Sea and explore areas of economic cooperation.Ambassador Jose Manuel Romualdez said Manila's relationship with Beijing should not be defined solely by maritime disputes, even as the Philippines continues…
Transocean-Valaris Tie-Up to Create $17B Offshore Drilling Major with 73 Rigs
Offshore drilling contractor Transocean has agreed to acquire Valaris in an all-stock transaction valued at about $5.8 billion, creating one of the world’s largest offshore drilling contractors with a fleet of 73 drilling rigs.The combined company will have an enterprise value of roughly $17 billion, with Transocean shareholders expected to own about 53% of the merged entity and Valaris shareholders…
Anemoi, COSCO Shipping Deepen Wind Propulsion Collaboration
Anemoi Marine Technologies and COSCO Shipping Heavy Industry have renewed a framework agreement to expand collaboration on the installation of rotor sail wind-propulsion systems across COSCO Shipping subsidiary shipyards.The renewed agreement builds on cooperation that began in 2022, during which the companies completed the installation of nine rotor sails at COSCO Shipping Heavy Industry yards, including…
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