Maritime Industry Briefing: ADES Secures Three-Year North Sea Extension, Marine Petroleum Trust Declares Q2 Distribution

## Maritime Industry Briefing ### ADES Jack-Up Rig Converts Short-Term North Sea Assignment into Three-Year Contract ADES Holding Company, a subsidiary of Saudi Arabia-headquartered ADES Group, has secured a significant long-term contract extension for one of its jack-up drilling rigs operating in the Dutch sector of the North Sea, according to Offshore Energy. The 2014-built rig, which initially secured a one-year drilling assignment, has now had its contract extended to cover a total of three years — a development that underscores continued operator confidence in the asset and reflects sustained demand for drilling services in the mature but still active Dutch North Sea market. The extension is a notable commercial win for ADES Group, which has been expanding its operational footprint beyond its traditional Middle East and North Africa base. Securing multi-year work in the competitive European offshore drilling market signals the company's growing international standing. Jack-up rigs of this vintage remain in demand where water depths and reservoir targets align with their operational capabilities, and a three-year commitment provides meaningful revenue visibility for the group. The Dutch North Sea continues to attract drilling activity as operators pursue incremental production from established fields, supported by the Netherlands' regulatory framework for offshore hydrocarbon development. --- ### Marine Petroleum Trust Declares Q2 2026 Cash Distribution Marine Petroleum Trust (NASDAQ: MARPS) has announced a second quarter cash distribution of $0.096470 per unit of beneficial interest, payable on 29 June 2026 to unitholders of record as of 29 May 2026, according to a company press release issued via PR Newswire. The Dallas-based trust, which holds royalty interests in offshore petroleum properties, distributes proceeds to unitholders on a quarterly basis in line with revenues generated from its underlying assets. The declared distribution reflects the trust's ongoing role as a passive royalty vehicle tied to offshore energy production performance. --- *Additional industry note: SJE, Inc., a manufacturer of control systems for water and wastewater markets, announced the acquisition of Anchor Scientific, Inc., expanding its portfolio of liquid level sensors and float switches. While primarily serving industrial water markets, such technologies have adjacent applications in marine and offshore fluid management systems.*