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 has scheduled its 2022 Annual General Meeting for September 30, 2022. Key documentation including the Notice of Annual General Meeting and the 2021 Consolidated Financial Statements on Form 20-F are available on the company's website. This meeting will adhere to the disclosure requirements set forth by Section 5-12 of the Norwegian Securities Trading Act. Interested parties can access the attachments linked in the release.
Golden Ocean Group Limited will host a webcast and conference call today at 16:00 CET to discuss its Q2 2022 results. Participants can join the event via webcast or by conference call. A Q&A session will follow, and presentation materials will be available for download at www.goldenocean.bm.
Golden Ocean Group Limited (NASDAQ/OSE: GOGL) reported strong financial results for Q2 2022, achieving a net income of $163.7 million and earnings per share of $0.82, up from $125.3 million and $0.63 in Q1 2022. The adjusted EBITDA for Q2 was $191.6 million, compared to $149.4 million in Q1. The Company completed a $275 million refinancing of 14 Capesize vessels, reducing cash break-even rates. A cash dividend of $0.60 per share was announced, payable on September 14, 2022. Despite challenges, the outlook remains optimistic due to charter coverage and low fleet growth.
Golden Ocean Group Limited will release its financial results for Q2 2022 on August 25, 2022. A conference call and webcast will occur at 4:00 PM CET (10:00 AM New York Time) on the same day. Investors can access the presentation beforehand from the Investor Relations section of www.goldenocean.bm. To join the discussion, participants must register online to receive dial-in details. A Q&A session will follow the call. This announcement aligns with the Norwegian Securities Trading Act's disclosure requirements.
Golden Ocean Group Limited will host its 2022 Annual General Meeting on September 30, 2022. The record date for voting is designated as August 19, 2022. Notice, agenda, and related materials will be distributed before the meeting.
This announcement complies with the disclosure requirements under Section 5-12 of the Norwegian Securities Trading Act.
Golden Ocean Group Limited (GOGL) announced agreements to construct three dual-fuel Kamsarmax vessels, boosting its fleet efficiency. The new vessels, set for delivery between Q3 2024 and Q1 2025, will feature advanced propulsion systems. Additionally, the sale of two Ultramax vessels, Golden Cecilie and Golden Cathrine, generated $63 million, with an expected gain of $22 million. The proceeds will help fund the newbuilding orders while preserving dividend capacity. CEO Ulrik Andersen emphasized the company's commitment to a modern, fuel-efficient fleet and its adaptability to future emissions regulations.
Golden Ocean Group Ltd has announced that eligible option holders have exercised share options. CEO Ulrik Uhrenfeldt Andersen exercised 300,000 options and sold the same number of shares, now retaining 250,000 options. CFO Peder Simonsen exercised 75,000 options, sold 75,000 shares, and currently holds 200,000 options and 500 shares. These transactions comply with Article 19 of the Market Abuse Regulation and the Norwegian Securities Trading Act, with additional details provided in the attached forms.
Golden Ocean Group Limited will present its first quarter 2022 results today at 15:00 CET via a webcast and conference call. Interested parties can attend the webcast through a provided link or join by dialing the applicable numbers based on their location, including international and toll-free options for the US, UK, and Norway. Presentation materials will be available for download on the company's website, and replay details will also be accessible there. This information complies with the Norwegian Securities Trading Act disclosure requirements.
Golden Ocean Group Limited (NASDAQ: GOGL) reported its unaudited results for Q1 2022, showing a net income of $125.3 million and earnings per share of $0.63, a decline from $203.8 million and $1.02 in Q4 2021. Adjusted EBITDA was $149.4 million, down from $243.5 million the previous quarter. The Company announced a cash dividend of $0.50 per share, payable on June 8, 2022. Average TCE rates for Capesize and Panamax vessels were reported at $24,778 and $23,693 per day, with expectations for higher rates in Q2 and Q3 2022.
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