Bermudian-based Golden Ocean Group Limited will soon become the world's largest publicly-listed dry bulk company in terms of deadweight tonnage.

The company has entered into an agreement to acquire six modern 208,000 deadweight tons vessels equipped with exhaust gas cleaning systems, or scrubbers, for a total consideration of $291 million, after which it will assume the world-leading designation.

The newly-acquired vessels will be chartered back to their former owner, an unrelated third party, for approximately 36 months at an average daily time charter equivalent rate of approximately $21,000 net.

Ulrik Andersen, chief executive officer of Golden Ocean Management AS, said: "This acquisition cements our position as the largest owner of modern Capesize vessels. It also increases our fleet's fuel efficiency and reduces its emissions profile as we continue to make progress towards our 2030 emission-reduction target of 30 per cent.

“We have acted on what we see as a short-term weakness in asset prices to acquire high-quality assets with strong return profiles that will comply with all environmental regulations beyond 2030.”

The acquisition will be financed by a new $233 million credit facility, which will be secured by the newly-acquired vessels and two unencumbered vessels, and cash on hand.

Golden Ocean owns or controls a modern fleet of 99 vessels with an average age of approximately six years, following the latest transaction.

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Bermudian-headquartered Ardmore Shipping Corporation, which owns and operates product and chemical tankers, has reported record net income of $135.1 million for the 2022 fiscal year.

That compares to a net loss of $38.1 million in 2021.

Net income in the fourth quarter was $53.1 million compared to a net loss of $8.6 million for the three months ended December 31, 2021.

The board declared a cash dividend of $0.45 per common share for the fourth quarter, payable on March 15 to all shareholders of record on February 28.

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Borr Drilling Limited, the Bermudian-based oilfield services company, has reported a net loss of $21.3 million in the fourth quarter of 2022, bringing total losses for the year to 292.8 million.

Total operating revenues in Q4 were $148.6 million, an increase of $40.7 million or 38 per cent compared to the third quarter.

Cash and cash equivalents were $108 million at the end of the fourth quarter.

Total contract revenue backlog on December 31 stood at $1.7 billion, an increase of nearly 200 per cent year-on-year (including rigs in the Mexican joint venture on a 100 per cent basis).

Year to date, Borr has been awarded five new contracts, extensions, exercised options and letters of awards representing 825 days and $100.6 million of potential revenue.

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Flex LNG Ltd, the liquefied natural gas shipping company based in Bermuda, has reported net income of $41.4 million for the fourth quarter of 2022, compared to net income of $46.6 million for the third quarter of the year.

The company reported full year net income of $188.0 million (2021: $162.2 million).

Vessel operating revenues were $97.9 million for the fourth quarter, compared to $91.3 million for the third quarter.

The average time charter equivalent rate of $81,699 per day for the fourth quarter compared to $75,941 per day for the third quarter.

The company declared a dividend for the fourth quarter of $1.00 per share, consisting of a quarterly dividend of $0.75 per share and a special dividend of $0.25 per share.

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Bermudian-based SFL Corporation Ltd, one of the world's largest ship-owning companies, has reported a fourth quarter 2022 net profit of $48.5 million.

It brought their full year net profit to nearly $202.8 million.

SFL received charter hire of approximately $208 million in the quarter, including $6.9 million of profit share.

The company has declared its 76th consecutive quarterly dividend.

The $0.24 per share dividend will be paid on or around March 30 to shareholders of record as of March 15.