GOGL – Exit from CCL Pool Joint Venture
August 10 2021 - 2:30AM
Golden Ocean Group Limited (NASDAQ and OSE: GOGL) (“Golden
Ocean” or the “Company“) today announced that it has terminated its
relationship with Capesize Chartering Ltd. (“CCL”), a joint venture
to coordinate the Capesize spot chartering services of Golden
Ocean, Starbulk, CTM and Bocimar.
Mr Ulrik Andersen, Chief Executive Officer of
Golden Ocean Management AS, commented: "We have enjoyed our close
cooperation with our CCL partners over the last five years. CCL was
formed in 2016 to achieve greater commercial scale amid a
challenging commercial environment.
Since then, the market has improved, and Golden
Ocean has significantly expanded and modernised its fleet, most
recently with the acquisition of 18 modern dry bulk vessels.
We believe Golden Ocean has the critical mass to
achieve the benefits of scale outside of the joint venture. With
all of our vessels managed by a single commercial management
platform, Golden Ocean will have better control of the commercial
strategy, as well as coming closer to our customers.
Backed by a strong commercial team, we believe
that Golden Ocean will be better positioned to maximise the value
of our platform.”
About Golden Ocean
Golden Ocean, a leading dry bulk shipping
company, owns or controls a modern fleet of 94 vessels with an
average age of approximately six years. The Company owns 56
Capesize vessels making it the largest publicly listed owner of
this vessel class. Golden Ocean is listed on the NASDAQ and Oslo
Stock Exchange under the symbol ‘GOGL’.
August 10, 2021
The Board of DirectorsGolden Ocean Group Ltd.
Hamilton, Bermuda
For further queries, please contact:
Ulrik Andersen: Chief Executive Officer, Golden
Ocean Management AS+47 22 01 73 53
This information is subject to the disclosure requirements
pursuant to Section 5-12 the Norwegian Securities Trading Act
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