Golden Ocean Group Sells Less Than 50% Shares in Subsequent Offering

Shipping company Golden Ocean Group raised about U$7.8 million through a subsequent offering of 34.37 million new shares. The company was able to sell about 13.37 new shares at NOK 5.00 per share. The subscription period ended on March 11, 2016. The company is expected to issue new shares under the subsequent offering on or about March 18. Golden Ocean Group is … [Read more...]

Knightsbridge and Golden Ocean Group Merger Approved, Creating Dry Bulk Giant

A merger between dry bulk shippers Golden Ocean Group Ltd (OSE: GOGL) and Knightsbridge Shipping Ltd (Nasdaq: VLCCF) has been formally approved by shareholders, thereby creating one of the largest dry bulk shipping companies in the world. The merger between the two companies was first announced last October but was subject to approval by the shareholders of both Golden Ocean … [Read more...]

Golden Ocean Group: Dry Bulk Shipping Market May Rebound Slightly in Q2

OSLO, March 23 (Reuters) - Dry bulk shipping charter rates remain well below break even levels, pushing vessel scrapping to record highs, though some market improvement is expected in the second quarter, Herman Billung, the CEO of shipping firm Golden Ocean said. Dayrates have plunged as China's slowdown reduced its iron ore imports while the market is flooded with brand new … [Read more...]

Golden Ocean Posts $135 Millon Loss as Ship Scrapping Accelerates

During the first six weeks of this year 19 Capesize bulk carriers were committed to scrap buyers, according to data obtained by Golden Ocean Group, the dry bulk arm of Norwegian billionaire John Fredriksen's shipping empire.  The company notes this is almost half of what was scrapped in total last year in their Q4 earnings report released today.  This year, 27 new Capes are … [Read more...]

Q3 Below Expectations for Dry Bulk Shipper Golden Ocean Group

OSLO, Nov 21 (Reuters) - Dry bulk shipping firm Golden Ocean reported third-quarter earnings below expectations on Friday and said charter rates remained too low to ensure profitability while vessel prices continued to sink. Golden Ocean, part of shipping tycoon John Fredriksen's business empire, said its quarterly figures were weighed down by poor Chinese coal demand while … [Read more...]