OSLO, Aug 13 (Reuters) - Commodities trader Trafigura is joining forces with shipping firms Frontline and Golden Ocean to supply marine fuel ahead of a shake up in regulation which could disrupt delivery and cause prices to spike. The three companies said on Tuesday the joint venture is expected to start operating in the third quarter, subject to agreement on final … [Read more...]
Dry Bulk Market Prospects Worsen After Brazil Dam Disaster, Golden Ocean Says
OSLO, Feb 19 (Reuters) - The prospects of dry bulk shippers carrying iron ore from mines to smelters have worsened due to the accident at Vale's Brumadinho dam in Brazil, Golden Ocean said on Tuesday as it presented forecast-beating quarterly earnings. The dam in the town of Brumadinho, which contained tailings, the mud-like byproducts of iron ore mining, burst on Jan. 25, … [Read more...]
Golden Ocean Boosts Dividend Amid Improving Dry Bulk Market
By Joachim Dagenborg OSLO, Feb 20 (Reuters) - Dry bulk shipper Golden Ocean proposed a bigger than expected dividend for the fourth quarter on the back of forecast-beating results on Tuesday, and reiterated the market was getting better. The company, controlled by Norwegian-born billionaire John Fredriksen, returned to profit in the third quarter thanks to improving market … [Read more...]
Golden Ocean Sells Six Relatively New Ulramax’s to Scorpio Bulkers
Dry bulk shipping company Golden Ocean has entered into agreements to sell six Ultramax bulk carriers that were delivered in just the past two years so that it can focus on the Capesize and Panamax segments where the company says it has 'critical mass'. Golden Ocean announced the sale of the six vessels on Monday for $142.5 million to an unaffiliated third party identified … [Read more...]
Golden Ocean Reduces Red Ink, Completes Acquisition of 16 Dry Bulk Vessels
Dry bulk shipping company Golden Ocean has completed its acquisition of 16 modern dry bulk vessels as part of ship-for-share transactions announced earlier this year, the company said in its second quarter report released Thursday. Golden Ocean reported a net loss of $12 million in the second quarter of 2017, an improvement compared to the company's $39.2 million loss in … [Read more...]