GOGL: Purchase Option Declaration
Golden Ocean Group (NASDAQ/OSE: GOGL) has announced the declaration of purchase options for eight Capesize vessels currently under long-term charter-in agreements with SFL subsidiaries. The total purchase price is set at $112 million en-bloc, with the options being exercised at the 10-year anniversary of the charter agreements.
The acquisition will be financed through a combination of a new $90 million revolving credit facility and cash on hand. The transaction is expected to complete during Q3 2025, subject to standard documentation and closing procedures.
Golden Ocean Group (NASDAQ/OSE: GOGL) ha annunciato la dichiarazione delle opzioni di acquisto per otto navi Capesize attualmente sotto contratti di affitto a lungo termine con le sussidiarie di SFL. Il prezzo totale di acquisto è fissato a 112 milioni di dollari in blocco, con le opzioni da esercitare al decimo anniversario degli accordi di affitto.
L'acquisizione sarà finanziata attraverso una combinazione di un nuovo plafond di credito revolving di 90 milioni di dollari e liquidità disponibile. Si prevede che la transazione si completi durante il terzo trimestre del 2025, soggetta a documentazione standard e procedure di chiusura.
Golden Ocean Group (NASDAQ/OSE: GOGL) ha anunciado la declaración de opciones de compra para ocho buques Capesize que actualmente están bajo acuerdos de fletamento a largo plazo con las subsidiarias de SFL. El precio total de compra se establece en 112 millones de dólares en bloque, con las opciones a ejercerse en el décimo aniversario de los acuerdos de fletamento.
La adquisición se financiará a través de una combinación de un nuevo crédito revolving de 90 millones de dólares y efectivo disponible. Se espera que la transacción se complete durante el tercer trimestre de 2025, sujeta a la documentación estándar y a los procedimientos de cierre.
골든 오션 그룹 (NASDAQ/OSE: GOGL)은 현재 SFL 자회사의 장기 차입 계약에 따라 8척의 케이프사이즈 선박 구매 옵션을 선언했다고 발표했습니다. 총 구매 가격은 1억 1200만 달러로 설정되어 있으며, 옵션은 차입 계약 10주년 기념일에 행사됩니다.
이번 인수는 9000만 달러의 신규 회전 신용 시설과 현금을 통해 자금 조달될 예정입니다. 거래는 2025년 3분기 동안 완료될 것으로 예상되며, 표준 문서화 및 마감 절차에 따라 진행됩니다.
Golden Ocean Group (NASDAQ/OSE: GOGL) a annoncé la déclaration d'options d'achat pour huit navires Capesize actuellement sous des contrats de location à long terme avec des filiales de SFL. Le prix d'achat total est fixé à 112 millions de dollars en bloc, avec des options à exercer lors du dixième anniversaire des contrats de location.
L'acquisition sera financée par une combinaison d'une nouvelle ligne de crédit renouvelable de 90 millions de dollars et de liquidités disponibles. La transaction devrait être finalisée au cours du 3ème trimestre 2025, sous réserve de la documentation standard et des procédures de clôture.
Golden Ocean Group (NASDAQ/OSE: GOGL) hat die Erklärung von Kaufoptionen für acht Capesize-Schiffe bekannt gegeben, die derzeit unter langfristigen Charterverträgen mit SFL-Tochtergesellschaften stehen. Der Gesamtkaufpreis beträgt 112 Millionen US-Dollar in einem Block, wobei die Optionen zum 10-jährigen Jubiläum der Charterverträge ausgeübt werden.
Die Akquisition wird durch eine Kombination aus einer neuen revolvierenden Kreditfazilität über 90 Millionen US-Dollar und vorhandenen liquiden Mitteln finanziert. Die Transaktion wird voraussichtlich im 3. Quartal 2025 abgeschlossen, vorbehaltlich der Standarddokumentation und Abschlussverfahren.
- Acquisition of 8 Capesize vessels strengthens owned fleet
- 90% of purchase price secured through credit facility
- Strategic fleet ownership transition from charter-in to owned vessels
- Significant cash outlay of $112 million required for vessel purchase
- Additional debt burden through $90 million credit facility
- Increased exposure to vessel value fluctuations
Insights
This strategic acquisition represents a significant shift in Golden Ocean's fleet management approach, converting eight chartered Capesize vessels into owned assets at an attractive price point of
The financing structure, combining a
From an operational perspective, transitioning from chartered to owned vessels typically reduces daily running costs and provides greater operational flexibility. This move could potentially generate substantial savings in daily vessel expenses, as ownership eliminates charter payments while retaining the vessels' earning potential. The transaction also strengthens GOGL's asset base, enhancing its position in the Capesize segment where scale and operational efficiency are important competitive advantages.
The Q3 2025 completion timeline allows for proper integration planning and coincides with a period when seasonal demand for dry bulk shipping typically strengthens. This acquisition will expand GOGL's owned fleet, potentially improving the company's market position and operational leverage in the Capesize segment, which primarily serves iron ore and coal transportation routes.
Golden Ocean Group Limited (NASDAQ/OSE: GOGL) (the “Company”) announces that it has declared the purchase options for eight Capesize vessels under the long-term charter-in agreements with subsidiaries of SFL Corporation Ltd. The total purchase price is
February 12, 2025
Hamilton, Bermuda
For more info please contact:
Peder Simonsen, Interim Chief Executive Officer and Chief Financial Officer of Golden Ocean Management AS.
Telephone +47 23 11 40 00
Forward-looking statements: 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
How many Capesize vessels is GOGL purchasing from SFL ?
What is the total purchase price for GOGL's vessel acquisition?
How is GOGL financing the $112 million vessel purchase?
When will GOGL complete the acquisition of the eight Capesize vessels?
What is the size of the new credit facility GOGL is securing for the vessel purchase?
