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.

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.

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, 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.

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.

The maritime industry is forecast to spend $931 million on artificial intelligence (AI) solutions in 2022, according to a recent report published by Lloyd’s Register in cooperation with Thetius.

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).
 

Overseas Shipholding Group, Inc. today reported results for the second quarter 2022.

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.