GOGL - Agreement for construction of three Kamsarmax vessels
September 09 2021 - 2:30AM
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 Q3–2023 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.Ulrik Andersen, CEO of Golden Ocean Management AS
commented:
"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.
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.
September 9, 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 of the disclosure requirements
pursuant to section 5-12 of the Norwegian Securities Trading
Act.
Forward-looking statements:
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.
Golden Ocean (NASDAQ:GOGL)
Historical Stock Chart
From Mar 2024 to Apr 2024
Golden Ocean (NASDAQ:GOGL)
Historical Stock Chart
From Apr 2023 to Apr 2024