• Diana Shipping Inc. Announces Sale and Leaseback...

    Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that, through two separate wholly-owned subsidiaries, it has entered into two sale and leaseback agreements with two unaffiliated Japanese third parties for the 2015-built Capesize dry bulk vessel, m/v New Orleans, and the 2015-built Capesize dry bulk vessel, m/v Santa Barbara. Upon completion of the transactions, which are estimated to take place by the end of the third quarter of 2022, the Company’s gross proceeds will be US$66.4 million (US$33.2 million each). As part of the agreements, the Company will bareboat charter-in the vessels for a period of eight years and have purchase options beginning at the end of the third year of their bareboat charter period.

  • Global Ports Wins San Juan Port Concession with $...

    The Puerto Rico Ports Authority completed its competitive procurement process by selecting cruise port operator Global Ports Holdings for a 30-years concession to operate the San Juan Cruise Port.  As part of the agreement, the company which has made its strategy to focus on cruise terminal operations will undertake a significant upgrade of the facilities in San Juan.

  • Average container prices and leasing rates...

    Average container prices have declined by more than half from the last year in August as China picks up containerised trade volumes more recently, according to an analysis published today by Container xChange, a technology marketplace and operating platform for container logistic companies. The analysis is a part of the monthly container logistics report published by Container xChange titled ‘Where Are All The Containers’.  


  • Santos reports record first half free cash flow...

    Santos today announced its half-year results for 2022, reporting record free cash flow of US$1.7 billion and underlying profit of US$1.3 billion. The results reflect significantly higher oil and LNG prices compared to the corresponding period due to stronger global energy demand combined with a higher interest in PNG LNG following the Oil Search merger.

  • Virgin Voyages Raises $550M in Additional Capital...

    Virgin Voyages, the new cruise brand launched with lead investments from Richard Branson’s Virgin Group and the well-known private investment group Bain Capital, announced that it has completed a significant new round of strategic funding to support its next phase of growth. Schedule to start commercial service just when the world went into the COVID-19 lockdowns, Virgin Voyages has been challenged by timing as it seeks to build a new approach to the cruise industry.

  • Crowley Awarded $66.2 Million MSC Contract

    Jacksonville, Fla. based Crowley Government Services Inc. has been awarded a $66,167,978 contract for the operation and maintenance of six U.S. government-owned Maritime Prepositioning Force vessels.

  • Golar LNG Reports Second Quarter Net Income of $...

    FLNG Hilli maintained its 4+ year unbroken record of 100% uptime during Q2. Distributable Adjusted EBITDA1 from FLNG Hilli was $92.5 million for the quarter, of which Golar’s share was $62.5 million. On July 27, 2022, Hilli customers Perenco Cameroon S.A. and Société Nationale des Hydrocarbures declared 0.2MTPA of their TTF linked optional production from 2023 until the end of the current contract in July 2026. On August 9, 2022 Golar entered into swap arrangements to hedge approximately 50% of Golar’s exposure to the 2023 TTF linked production, securing around $80.0 million of 2023 Distributable Adjusted EBITDA1. Based on current average 2023 TTF gas prices for the remaining unhedged portion, Golar’s share of 2023 TTF linked gross proceeds from the TTF linked volume is expected to be $160.0 million. Including the Brent oil forward curve ($88/bbl), and the fixed tariff, Golar’s share of Distributable Adjusted EBITDA1 from Hilli is expected to be approximately $305.0 million in 2023. Golar’s share of forecast 2023 total annual debt service for Hilli’s contractual debt is approximately $50.0 million (debt amortization of approximately $29.0 million and interest of approximately $21.0 million).

  • NASSCO Awarded Additional $1.4B to Expand Oiler...

    The U.S. Navy is continuing the build-out of two of its classes of support ships launched in the last decade to support naval operations. The San Diego-based shipbuilder General Dynamics NASSCO is receiving an additional $1.4 billion in U.S. Navy contract modifications for the construction of a sixth Expeditionary Sea Base ship and two additional John Lewis-class fleet oilers. This award comes in addition to $600 million already received to procure long-lead time materials for the same ships. 


Stolt-Nielsen Limited Reports Nine Month-Net Profit $185.6 Million and Over $2 Billion in Revenues

Stolt-Nielsen Limited yesterday reported unaudited results for the third quarter and first nine months of 2022. The Company reported a third-quarter net profit of $74.7 million, with revenue of $744.0 million, compared with a net profit of $58.6 million, with revenue of $689.1 million, in the second quarter. The net profit for the first nine months of 2022 was $185.6 million, with revenue of $2,039.3 million, compared with a net profit of $43.8 million, with revenue of $1,588.0 million, in the first nine months of 2021.


Hapag-Lloyd to Acquire SAAM's Terminal Business for $1B

Hapag-Lloyd AG and SM SAAM have signed a binding agreement under which Hapag-Lloyd will acquire 100 % of the shares of SAAM Ports S.A. and SAAM Logistics S.A. and thereby the entire company’s terminal business and associated logistics services.


Partners Awarded $50 Million to Create Clean Hydrogen Cluster in South Louisiana

The U.S. Economic Development Administration (EDA) earlier this month awarded a $50 million federal grant to H2theFuture, a 25-organization partnership aiming to develop a new energy cluster in South Louisiana, spanning the clean hydrogen life cycle, from R&D at Louisiana universities, to an end-use project at the Port of South Louisiana.


Preliminary $1.4B Deal to Sell Stake in DSME as KDB Begins Auction

A preliminary deal has been struck for the Korea Development Bank to sell two-thirds of its investment in Daewoo Shipbuilding & Marine Engineering (DSME) in a transaction that would recapitalize the financially troubled shipyard with new private investors and management. KDB, which had previously said it was making it a priority to sell Korea’s third largest shipbuilder to private investors, has selected a technique typically used in bankruptcies announcing an initial accepted bid and tomorrow will commence a month-long bidding process for a 49.3 percent stake in DSME.


Performance Shipping Inc. Announces a US$45,000 Per Day Time Charter Contract for 7-10 Months

Performance Shipping Inc., a global shipping company specializing in the ownership of tanker vessels, announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Trafigura Maritime Logistics Pte Ltd (the “Charterer”) for the LR2 Aframax oil product tanker the M/T Alpine Amalia, to be renamed P. Aliki, the acquisition of which was previously announced. The gross charter rate will be US$45,000 per day for a period of minimum seven (7) months to a maximum of ten (10) months at the option of the Charterer and will commence following the vessel’s delivery to the Company expected in November.