GOGL – Acquisition of Six Newcastlemax Vessels
Golden Ocean Group Limited (Nasdaq: GOGL) has announced an agreement to acquire six modern dry bulk vessels for $291 million. These 208,000 dwt vessels, equipped with scrubbers, will be chartered back to their previous owner for about 36 months at a daily rate of $21,000. This acquisition positions Golden Ocean as the largest owner of modern Capesize vessels, enhancing its fuel efficiency and emissions profile, aligning with its target to reduce emissions by 30% by 2030. The deal will be financed through a new $233 million credit facility and internal cash, preserving the company's dividend capacity.
- Acquisition of six modern vessels enhances fleet size and efficiency.
- Projected daily revenue from chartering at approximately $21,000.
- Strategically aligns with 2030 emission-reduction goals.
- Strong balance sheet allows for moderate leverage without affecting dividends.
- None.
Golden Ocean Group Limited (Nasdaq and OSE: GOGL) ("Golden Ocean" or the "Company"), the world's leading owner of large-size dry bulk vessels, today announces it has entered into an agreement to acquire six modern 208,000 deadweight tons (dwt) vessels equipped with exhaust gas cleaning systems, or scrubbers, for a total consideration of
"This acquisition cements our position as the largest owner of modern Capesize vessels. It also increases our fleet's fuel efficiency and reduces its emissions profile as we continue to make progress toward our 2030 emission-reduction target of
The acquisition will be financed by a new
Following the Acquisition, Golden Ocean will be the world's largest publicly-listed dry bulk company in terms of dwt.
About Golden Ocean
Golden Ocean, a leading dry bulk shipping company, owns or controls a modern fleet of 99 vessels with an average age of approximately six years, following the above transaction. The Company is the largest owner of Capesize vessels and has a leading position in the ice-class Panamax vessel niche. Golden Ocean is listed on the NASDAQ and Oslo Stock Exchange under the symbol 'GOGL'.
February 13, 2023
The Board of Directors
Golden Ocean Group Ltd.
Hamilton, Bermuda
For further queries, please contact:
Ulrik Andersen: Chief Executive Officer, Golden Ocean Management AS
+47 22 01 73 40
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.
FAQ
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