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 will announce its financial results for the third quarter of 2021 on Wednesday, 24 November 2021. A teleconference and webcast will take place at 3:00 P.M. CET (9:00 A.M. New York Time) on the same day, where a presentation will be available for download from the Investor Relations section of www.goldenocean.bm. Participants can join via a webcast link or dial-in using specific numbers provided. The Conference ID required for participation is 6885309.
Golden Ocean Group Limited (Nasdaq and OSE: GOGL) announced the sale of two older Panamax vessels for $37.2 million, expecting gains of approximately $4.9 million in Q3 and $5.0 million in Q4 2021. The proceeds will fund a significant portion of the equity required for four new Kamsarmax vessels, which are set for delivery in late 2023. This move enhances the fleet's fuel efficiency and aligns with the Company's commitment to modernize its operations and generate cash flows amidst a favorable dry bulk market.
Golden Ocean Group Limited (NASDAQ and OSE: GOGL) announced that an option holder has exercised options for 20,000 shares of the Company.
The transaction will be settled using treasury shares, which will result in Golden Ocean holding a total of 755,000 treasury shares after the exercise. This information aligns with prior disclosures and is mandated under the Norwegian Securities Trading Act.
Golden Ocean Group Limited (Nasdaq: GOGL) has announced an agreement to construct three ECO-type Kamsarmax vessels, each with a capacity of 85,000 dwt, at a leading shipyard in China. These vessels will feature advanced propulsion systems aimed at improving fuel efficiency and reducing emissions. Scheduled for delivery between Q3 2023 and Q1 2024, the project will be financed through operating cash flow and cash reserves, with long-term debt options considered nearer to the delivery date. This investment aligns with Golden Ocean's strategy to modernize its fleet while maintaining dividend capacity.
Golden Ocean Group Limited is set to present its second quarter 2021 results in a webcast and conference call scheduled for 16:00 CET. Interested participants can join the session via a provided link and can also access dial-in numbers for various countries including the US, UK, and Norway. The presentation materials will be available for download on their official website, along with replay details. This announcement adheres to the disclosure requirements of the Norwegian Securities Trading Act.
Golden Ocean Group Limited (NASDAQ: GOGL) reported strong financial results for the second quarter of 2021, achieving a net income of $104.5 million and earnings per share of $0.52, up from $23.6 million and $0.14 in Q1 2021. Adjusted EBITDA rose to $130.5 million from $54.6 million. The company completed the acquisition of 15 dry bulk vessels, secured $435 million in refinancing, and announced a dividend of $0.50 per share. Future TCE rates are projected at $33,500 for Capesize vessels, indicating strong demand despite potential rate volatility.
Golden Ocean Group Limited is set to publish its financial results for the second quarter of 2021 on August 26, 2021. A teleconference and webcast will occur at 4:00 P.M. CET (10:00 A.M. New York Time) on the same day. Investors can access the presentation on www.goldenocean.bm prior to the event. For participation, callers must provide their full name and the Conference ID 1877317. Replay details are also available for those unable to attend live. This announcement complies with the Norwegian Securities Trading Act.
Golden Ocean Group Limited (NASDAQ and OSE: GOGL) has announced the termination of its joint venture with Capesize Chartering Ltd. (CCL), which coordinated the Capesize spot chartering services with other partners. CEO Ulrik Andersen stated that the company has modernized its fleet by acquiring 18 new dry bulk vessels. Golden Ocean believes it can now achieve greater commercial scale independently and gain better control over its commercial strategy and customer relations, enhancing its position in the market.
Golden Ocean Group Limited held its 2021 Annual General Meeting on May 26, 2021. The meeting presented audited financial statements for the year ending December 31, 2020. Key resolutions included setting a maximum of eight directors, re-electing several board members including John Fredriksen and approving auditor reappointment. The Board's remuneration was set at a maximum of $600,000 for 2021, and a reduction in Share Premium account was approved.
Golden Ocean Group Limited will present its first quarter 2021 results in a live webcast/conference call at 15:00 CET. Investors can join the event via the provided link or dial in using the applicable telephone numbers listed for various regions. A confirmation code is required for access. Presentation materials will be available for download on the company’s website. Replay details will also be provided. This announcement adheres to the disclosure requirements under the Norwegian Securities Trading Act.
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