Welcome to our dedicated page for Golden Ocean Group news (Ticker: GOGL), a resource for investors and traders seeking the latest updates and insights on Golden Ocean Group stock.
Golden Ocean Group Limited (NASDAQ: GOGL, OSE: GOGL) is a Bermuda-based dry bulk shipping company specializing in the transportation of dry bulk cargo such as ores, coal, grains, and fertilizers. Operating under the international trade and development sector, the company is headquartered in Madrid, Spain. Golden Ocean Group leverages a robust fleet comprised of owned and chartered vessels, including bareboat vessels and commercial management vessels. These vessels are chartered out on both fixed-rate time charters and index-linked time charter contracts, ensuring flexibility and adaptability in various market conditions.
In recent developments, the company announced the appointment of Mr. Cato Stonex as Director. Additionally, Golden Ocean Group has been transparent with its financial performance, presenting its fourth quarter 2023 results in a webcast and conference call. The company's annual report for the year ended December 31, 2023, has been filed with the U.S. Securities and Exchange Commission and is accessible through their website. Shareholders can also request a hard copy of the report which includes the complete audited financial statements for 2023.
Looking ahead, Golden Ocean Group has scheduled its 2024 Annual General Meeting for April 29, 2024, with the associated information and financial statements available on their website. The company has also released its first-quarter 2024 results, offering insights through another webcast and conference call.
In a significant leadership change, Lars-Christian Svensen, the Chief Executive Officer of Golden Ocean Management AS, has stepped down to pursue new opportunities. The company's Chief Financial Officer, Peder Simonsen, has been appointed as the Interim CEO and CFO. The Board expressed their gratitude for Mr. Svensen's contributions and leadership, wishing him success in his future endeavors.
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.
Golden Ocean Group Limited will announce its financial results for the fourth quarter of 2022 on February 16, 2023. A conference call and webcast will follow at 3:00 PM CET (9:00 AM New York Time). The presentation will be accessible for download from the Investor Relations section at www.goldenocean.bm before the event.
To participate, users can join via a webcast link or conference call after registering online. A Q&A session is scheduled post-presentation. This announcement complies with the disclosure requirements of the Norwegian Securities Trading Act.
Golden Ocean Group Limited (NASDAQ: GOGL) reported the acquisition of 150,000 of its own shares on December 7, 2022, as part of its $100 million buy-back program initiated on October 4, 2022. The shares were purchased at an average price of NOK 82.43 on the Oslo Stock Exchange and USD 8.20 on Nasdaq. Following this transaction, GOGL holds a total of 705,000 shares, representing 0.35% of its share capital.
Details of the buy-back program are available on the company's website, with further statements highlighting the inherent risks associated with forward-looking statements.
Golden Ocean Group Limited (GOGL) announced on December 2, 2022, that it has repurchased 250,000 of its own common shares as part of a previously established buy-back program of up to USD 100 million. This purchase included 100,000 shares on the Oslo Stock Exchange at an average price of NOK 79.37 and 150,000 shares on Nasdaq at USD 8.20 each. Following this transaction, GOGL now holds a total of 555,000 shares, representing 0.28% of its total capital. The buy-back program is expected to continue over a 12-month period from the original announcement on October 4, 2022.
Golden Ocean Group Limited is set to present its third quarter 2022 results during a webcast and conference call scheduled for 15:00 CET today. Interested participants can join via a provided link for the webcast or register online for the conference call. Q&A sessions will follow the presentations. Presentation materials and replay details are available on the company’s official website. This announcement falls under the disclosure requirements of the Norwegian Securities Trading Act.
Golden Ocean Group Limited (GOGL) reported its unaudited results for Q3 2022, showcasing a net income of $104.6 million and earnings per share of $0.52, down from $163.7 million and $0.82 in Q2 2022. The adjusted EBITDA also decreased to $118.2 million from $191.6 million. The average TCE rates were $22,658 for Capesize and $23,562 for Panamax/Ultramax. Notably, the sale of two vessels yielded a $21.9 million gain. A cash dividend of $0.35 per share was announced, along with a $100 million share buy-back program.
Golden Ocean Group Limited is set to release its third quarter financial results for 2022 on November 16, 2022. A conference call and webcast will occur at 3:00 P.M. CET (9:00 A.M. New York Time) on the same day. Interested parties can access the presentation via the Investor Relations section of the company's website, where the downloadable presentation will be available before the event. A Q&A session will follow the conference call/webcast, with details on question submission provided at the start of the session.
Golden Ocean Group Limited (OSE/NASDAQ: GOGL) has announced a share buy-back program, authorized on October 4, 2022, with a maximum budget of USD 100 million to repurchase up to 10 million common shares over the next 12 months. The buy-backs will take place on both the Oslo Stock Exchange and NASDAQ, with a maximum price of USD 10.00 per share. CEO Ulrik Uhrenfeldt Andersen noted this decision aims to enhance shareholder returns amid economic uncertainty, reflecting the company's strong balance sheet and positive long-term outlook.
Golden Ocean Group Limited conducted its 2022 Annual General Meeting on September 30, 2022, where shareholders reviewed the audited financial statements for the year ended December 31, 2021. Significant resolutions passed included setting a maximum of eight Directors, re-electing existing Directors, and re-appointing PricewaterhouseCoopers AS as auditors. The Board of Directors’ remuneration was approved at a total not exceeding US$600,000 for 2022. An amendment to the Company’s bye-laws was also approved.
Golden Ocean Group presented at the Pareto Securities’ 29th Energy Conference on September 15, 2022. The event focused on key developments in the energy sector and their implications for shipping companies. Golden Ocean Group highlighted its strategies to navigate market challenges and capitalize on growth opportunities. The presentation is available for download, offering insights into the company's vision, operational efficiencies, and expected industry trends. Investors are encouraged to review the materials to understand the company's positioning within the evolving energy landscape.
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