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Daily Gosships Summary - 27 December 2024

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Massachusetts Offshore Wind Project Advances

The SouthCoast Wind project has been approved, positioning Massachusetts as a leader in renewable energy. Located 20 nautical miles south of Nantucket, this offshore wind farm will generate up to 2.4 GW of energy, enough to power 840,000 homes. The project is a key step toward the Biden administration's goal of deploying 30 GW of offshore wind energy by 2030, while creating thousands of local jobs and bolstering U.S. manufacturing. Read more: https://www.gosships.com/post/the-winds-of-change-massachusetts-takes-a-bold-step-toward-offshore-wind-energy

OceanPal's Financial Results Show Growth

OceanPal Inc. reported Q3 2024 revenues of $7.5 million, up from $3.9 million in Q3 2023, alongside reduced net losses. Their six-vessel fleet achieved a 97.3% utilization rate, highlighting operational efficiency and increased Time Charter Equivalent rates of $12,503 per day. Read more: https://www.gosships.com/post/oceanpal-inc-announces-financial-results-for-q3-2024

Diana Shipping Extends Contract for M/V Amphitrite

Diana Shipping Inc. extended a charter contract for the M/v Amphitrite, a Post-Panamax dry bulk vessel, securing a minimum of $4.22 million in revenue for the period. The company is also expanding its fleet with dual-fuel methanol vessels, underscoring its focus on sustainable shipping. Read more: https://www.gosships.com/post/diana-shipping-inc-extends-time-charter-contract-for-m-v-amphitrite

Venture Global's LNG Milestone

Venture Global successfully exported its first LNG cargo from the Plaquemines facility to ENBW in Germany. This marks a rapid achievement in greenfield LNG project development, with the company emphasizing its commitment to global energy security and innovative execution. Read more: https://www.gosships.com/post/venture-global-achieves-major-milestone-with-first-lng-cargo-from-plaquemines-facility

Controversy Surrounds U.S. Steel's Potential Foreign Acquisition

Nippon Steel's proposed $14.9 billion acquisition of U.S. Steel has sparked national debate. Concerns center on risks to economic stability, national security, and domestic jobs. The deal is under review by the Committee on Foreign Investment in the United States (CFIUS), with bipartisan opposition from political leaders. Read more: https://www.gosships.com/post/the-battle-for-u-s-steel-protecting-an-american-icon

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