{"id":536039,"date":"2021-09-09T02:33:39","date_gmt":"2021-09-09T06:33:39","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/gogl-agreement-for-construction-of-three-kamsarmax-vessels\/"},"modified":"2021-09-09T02:33:39","modified_gmt":"2021-09-09T06:33:39","slug":"gogl-agreement-for-construction-of-three-kamsarmax-vessels","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/gogl-agreement-for-construction-of-three-kamsarmax-vessels\/","title":{"rendered":"GOGL – Agreement for construction of three Kamsarmax vessels"},"content":{"rendered":"
\n

Golden Ocean Group Limited (Nasdaq and OSE: GOGL) (“Golden Ocean” or the “Company”), one of the world’s largest listed dry bulk shipowners, today announces that it has entered into an agreement for the construction of three high-specification latest generation 85,000 dwt ECO-type Kamsarmax vessels, which will be constructed at a first-class Chinese yard. The vessels will be equipped with the latest and most efficient propulsion system, contributing with significant improvements in fuel consumption and emissions performance. The vessels are dual-fuel ready, giving the Company time to evaluate alternatives while the visibility of future regulations and optimal technology improves.<\/p>\n

The vessels are scheduled to deliver from Q3\u20132023 to Q1-2024. Golden Ocean intends to finance the acquisition with operating cash flow and cash on hand and will establish long-term debt financing closer to delivery.<\/p>\n

Ulrik Andersen, CEO of Golden Ocean Management AS commented:<\/p>\n

“With this transaction, we continue executing on our strategy of renewing the fleet and improving its operating performance. At the same time, it underlines our belief in the long-term dry bulk fundamentals. <\/p>\n

We have secured an attractive price with a tail-heavy payment structure, which means Golden Ocean can absorb the transaction without impacting the Company’s dividend capacity, which continues to be a key priority. The vessels benefit from additional cargo intake, and the superior fuel economy will ensure low operating costs and a reduced carbon footprint.<\/p>\n

September 9, 2021<\/p>\n

The Board of Directors
Golden Ocean Group Ltd.
Hamilton, Bermuda<\/p>\n

For further queries, please contact:<\/p>\n

Ulrik Andersen: Chief Executive Officer, Golden Ocean Management AS
+47 22 01 73 53<\/p>\n

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. <\/p>\n

Forward-looking statements: <\/p>\n

This release and any materials distributed in connection with this release may contain certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect the Company’s current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. <\/p>\n

\n \n <\/p>\n

\n
\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

Golden Ocean Group Limited (Nasdaq and OSE: GOGL) (“Golden Ocean” or the “Company”), one of the world’s largest listed dry bulk shipowners, today announces that it has entered into an agreement for the construction of three high-specification latest generation 85,000 dwt ECO-type Kamsarmax vessels, which will be constructed at a first-class Chinese yard. The vessels will be equipped with the latest and most efficient propulsion system, contributing with significant improvements in fuel consumption and emissions performance. The vessels are dual-fuel ready, giving the Company time to evaluate alternatives while the visibility of future regulations and optimal technology improves. The vessels are scheduled to deliver from Q3\u20132023 to Q1-2024. Golden Ocean intends to finance the acquisition with operating cash flow and … <\/p>\n

Continue reading “GOGL – Agreement for construction of three Kamsarmax vessels”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-536039","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nGOGL - Agreement for construction of three Kamsarmax vessels - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/gogl-agreement-for-construction-of-three-kamsarmax-vessels\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GOGL - Agreement for construction of three Kamsarmax vessels - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Golden Ocean Group Limited (Nasdaq and OSE: GOGL) (“Golden Ocean” or the “Company”), one of the world’s largest listed dry bulk shipowners, today announces that it has entered into an agreement for the construction of three high-specification latest generation 85,000 dwt ECO-type Kamsarmax vessels, which will be constructed at a first-class Chinese yard. The vessels will be equipped with the latest and most efficient propulsion system, contributing with significant improvements in fuel consumption and emissions performance. The vessels are dual-fuel ready, giving the Company time to evaluate alternatives while the visibility of future regulations and optimal technology improves. The vessels are scheduled to deliver from Q3\u20132023 to Q1-2024. 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