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Seadrill Limited and Empresa de Servicos e Sondagens de Angola, an affiliate of Sonangol, have formed a 50:50 joint venture named Sonadrill to operate four drillships in Angolan waters.

Consolidation is continuing in the rig owning sector with Ensco merging with Rowan Companies in an all stock deal.

Technology group Wärtsilä and Maersk Drilling have joined forces in a unique co-operation to create a 25-year thruster maintenance strategy for Maersk’s three semisubmersible rigs and four drillships.

Seadrill Limited is seeking more deferments for its newbuild deliveries of jack-ups and drillships, after concluding agreements to defer 11 newbuild deliveries so far this year.

Singapore shipyard group Sembcorp Marine (Sembmarine) has started arbitration against Sete Brasil after it filed for bankruptcy protection.

Seadrill has postponed delivery of two ultra-deepwater drillships from Daewoo Shipbuilding and Marine Engineering (DSME) by at least two years.

The challenging operating environment in the offshore oil and gas market has pushed Seadrill to delay 10 of its newbuild deliveries, including two drillships and eight jack-ups, all of which are currently under construction at China and South Korean yards.

As the offshore downturn takes its toll Transocean has delayed delivery two drillship newbuildings at Jurong Shipyard by 24 months.

DryShips has narrowed its losses in the first quarter as the shipowner looked forward to a stronger tanker and dry bulk shipping markets from the second half of this year onwards.

Pacific Drilling has generated profits of $22.2m for the first quarter of 2014, up from $15.1m in the same period for the previous year.

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