A semiclosed power system utilizing a Brayton cycle with combustion occurring between diesel fuel and O2 in direct contact with an inert gas. The inert gas and products of combustion form a heated working fluid which is expanded in a turbine to provide power. The expanded working fluid is then used in a regenerator to heat the cooler, compressed inert gas before the inert gas is transferred to the combustor. The expanded working fluid is cooled by direct contact with seawater causing the steam within the expanded working fluid to condense to water and CO2 in the working fluid to be dissolved in the water and seawater. The inert gas is separated from the fluids and recycled within the system. The fluids are pumped overboard.