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Apollo has agreed to invest $1.5bn in a new Keppel-managed fund set up to hold up to 10 legacy offshore drilling rigs. The Keppel Offshore Fund will initially acquire six operational rigs from Keppel subsidiary Rigco Holding for about S$1.2bn ($957m). Keppel is expected to receive around $478m in cash from the first phase, which …

South Korea’s DH Shipbuilding has landed two more suezmax tanker newbuildings, taking the yard’s order intake this year to a record 17 ships. The contract with an unnamed new European customer is worth KRW271.3bn ($196m) and covers two 157,000 dwt crude carriers for delivery by the end of 2029. The deal represents about 22% of …