Golden Ocean Shareholders Approve Merger with CMB.TECH, Creating Maritime Giant

Shareholders of Golden Ocean Group Limited (NASDAQ: GOGL & Euronext Oslo Børs: GOGL) have approved the stock-for-stock merger with CMB.TECH at a Special General Meeting held today in Hamilton, Bermuda.

The merger, first announced on May 28, 2025, will create one of the largest listed diversified maritime groups globally with a combined fleet of approximately 250 vessels.

“All resolutions set out in the notice of the SGM were approved by the shareholders,” the company stated in its announcement, clearing the way for the transaction’s completion.

Under the terms of the agreement, each outstanding common share of Golden Ocean will be cancelled and exchanged for 0.95 ordinary shares of CMB.TECH.

Following today’s shareholder approval, the last day of trading for Golden Ocean shares on both the Oslo Stock Exchange and NASDAQ will be today, August 19, 2025. The merger is expected to be formally completed tomorrow, August 20, before market opening (Central European Summer Time).

The combined entity will begin trading on both the Oslo Stock Exchange and the NYSE on August 20, with delivery of CMB.TECH shares to former Golden Ocean shareholders scheduled for August 22 on OSE and August 21 on the NYSE.

The merger represents a significant consolidation in the maritime industry, bringing together Golden Ocean’s fleet of more than 90 dry bulk vessels with CMB.TECH’s diversified portfolio of over 160 seagoing vessels including crude oil tankers, dry bulk vessels, container ships, chemical tankers, offshore wind vessels, and workboats.

Upon completion, CMB.TECH shareholders will own approximately 70% of the combined company’s total issued share capital, with Golden Ocean shareholders holding the remaining 30%.

Golden Ocean, headquartered in Bermuda, specializes in the transportation of dry bulk cargoes with a fleet capacity of approximately 13.7 million deadweight tonnes. CMB.TECH, headquartered in Antwerp, Belgium, offers a broader range of maritime services, including hydrogen and ammonia fuel to customers.

The newly merged company is expected to integrate its reporting, with Golden Ocean’s Q2 2025 results to be published as part of CMB.TECH’s Q2 2025 results.

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