• 2017 September 25 10:27

    Golden Ocean sells six Ultramax vessels

    Golden Ocean Group Limited today announced that it has entered into agreements to sell six Ultramax vessels built at Chengxi between 2015 and 2017 en bloc for $142.5 million to an unrelated third party. The net cash proceeds from the sale after the repayment of $39.2 million of associated debt will be slightly in excess of $100 million. All vessels are expected to be delivered to their new owner during the fourth quarter of 2017, the company said in its press release.

    Separately, Golden Ocean has agreed to take early delivery of the Golden Nimbus, a Capesize vessel under construction at New Times Shipbuilding. Golden Ocean will make a final payment of $29.4 million for the vessel at delivery and will draw $25 million from the related bank financing in early October 2017, resulting in a net cash outlay of $4.4 million. Upon delivery, which is expected to occur this month, the vessel will commence a time charter at a gross rate of $16,750 per day for a duration of between 14 and 18 months. Including this charter, Golden Ocean has taken advantage of recent market strength to fix five of the 44 Capesize vessels in its 2018 operating fleet on charters of one year.

    Birgitte Ringstad Vartdal, CEO of Golden Ocean Management AS, commented:
    "The sale of these vessels strengthens our commercial focus on Capesize and Panamax vessels, where we have critical mass and that we believe will provide the greatest leverage to a recovery in the dry bulk shipping market. It also increases our financial flexibility considerably as the majority of the gross proceeds will directly increase our cash balance. We are also pleased to be in the position to take early delivery of one of our Capesize newbuildings after having secured employment for the vessel at a rate well above our cash break even levels."

    About Golden Ocean
    Golden Ocean, a leading dry bulk shipping company, owns or controls a modern fleet of 71 vessels and five Capesize newbuilding contracts. On a fully-delivered basis, Golden Ocean's fleet will have an aggregate carrying capacity of approximately 10.4 million deadweight tons ("DWT") and an average age of less than 5 years,. Golden Ocean's significant scale is further enhanced by its commercial platform, which manages 44 additional vessels on behalf of third parties. Golden Ocean is listed on the NASDAQ and Oslo Stock Exchange under the symbol 'GOGL'.




2017 December 13

13:35 Transneft’s subsidiary updates ISO certification
13:30 Maersk Line announces new FAK rates from Far East to North Europe
13:06 Aker Solutions wins modifications contract from Maersk Drilling
12:23 Nobel Bros Shipyard begins drydocking of Shestaya Pyatiletka-class MS Olenegorsk
11:11 Work continues to combat illicit maritime activity
10:52 Bunker prices go up at the Port of Saint-Petersburg, Russia (graph)
10:28 Brent Crude futures price up 0.9% to $63.91, Light Sweet Crude – up 0.58% to $57.47
10:10 Transneft Baltic completed implementation of Sever project’s Phase 3
09:44 Russian Railways: Loading of Russia’s export cargo bound for domestic ports up 6.3% Y-o-Y to 266.8 mln t in 11M’17
09:26 Baltic Dry Index up to 1,743 points
08:07 Port of Long Beach surges past 2016 cargo volume
07:51 ABS partnership enhances safety in Ghana’s offshore industry

2017 December 12

18:34 Shipping Corporation of India participated in relief efforts targeted at fisherman affected by OCKHI under
18:07 Konecranes to deliver its first Waste-to-Energy cranes to India
17:54 Fourth Feadship yard taking shape in Amsterdam
17:50 Major Baltic Sea policies reviewed ahead of HELCOM Ministerial Meeting
17:48 Skangas signs Letter of Intent with National Grid Grain LNG
17:46 Boskalis completes successful Aasta Hansteen float-over installation
17:00 Nefteflot delivers lead oil tanker of Project RST11 (photo)
15:03 Russia will support Finland’s proposal to IMO on evaluation of legal framework for unmanned navigation (photo)
14:27 Russia and Finland to submit joint proposal to IMO for accepting ship’s documents in e-format (photo)
14:01 CMA CGM announces FAK rates from ISC to North Europe and Mediterranean
13:39 GlavGosEkspertiza approves the project on construction of a multi-purpose for oil products at port Novorossiysk (photo)
13:01 MOL with partners agree to start a demonstration test of blockchain technology in cross-border trade operations
12:31 Seaspan accepts delivery of fourth 11000 TEU SAVER containership
12:01 Classification contract for CMA CGM’s 22,000 TEU dual-fuel containerships was signed at Marintec in Shanghai
11:48 MGO prices are still high at the Far East ports of Russia (graph)
11:22 Russia invites Finland to designate a common water area in the Gulf of Finland not subject to ballast water exchange (photo)
11:13 Jan De Nul enters in JV company agreement with the Payra Port Authority to proceed with EUR 550 million port dredging contract
11:00 Ville Haapasaari named new CEO of the Port of Helsinki
10:51 CMA CGM to upgrade MIDAS Loop 1 connecting South Africa with Indian Subcontinent and Middle East Gulf
10:31 Brent Crude futures price up 1% to $65.34, Light Sweet Crude – up 0.5% to $58.28
10:08 Russia and Finland to cooperate in icebreaker assistance during 2017-2018 winter navigation season (photo)
09:40 Klaipeda Seaport Authority expands its fleet with new oil response and diving support vessel
09:19 Baltic Dry Index up to 1,727 points

2017 December 11

18:27 APL expands coverage in the Trans-Atlantic with New North Atlantic Service
18:07 Keppel secures S$130 million in projects from repeat customers
18:01 NOVATEK: LNG sales under long-term contracts will commence in April 2018
17:39 LR and UMAS release ‘Zero Emission Vessels 2030’ study
17:38 Port of Riga introduces new and innovative dry bulk handling technology
17:33 Van Oord completes expansion of Taiwan's largest port
17:16 ABB’s first Azipod® D propulsion system now in operation
17:06 Damen Schelde Gears acquired by RENK
16:55 Private sector partners in the pursuit of low carbon shipping
16:55 Teekay LNG Partners secures long-term financing for Yamal ARC7 LNG carriers
16:51 IMO Assembly adopts vision and strategic directions
16:33 Port of Helsinki’s West Terminal 2 awarded recognition for accessibility
16:03 Essar Vizag Terminal to take week-long shutdown to commission 8,000 TPH ship loader
15:47 Throughput of Russian seaports in 11M’17 grew by 9% to 716.7 mln t (detalization)
15:33 ICTSI agree on Motukea port project framework
15:19 Navigation season is over in Volga-Don Basin of Russia’s IWW (photo)
15:03 Port of Antwerp to invest 1.4 million euros over the next three years in seven projects
14:33 Maersk Line completes the divestment of Mercosul Line
14:21 Average wholesale prices for М-100 HFO down to RUB 13,104 in RF spot market
14:03 Hutchison Ports ECT Rotterdam, UWT and Smith Holland to launch an Empty Transferium at Maasvlakte’s ECT Euromax terminal
13:37 Aker Solutions to provide subsea production system for Aker BP's Ærfugl
13:12 Russian seaports handled 716.75 mln t of cargo in 11M’17, up 9% Y-o-Y
12:50 ABP on course to become one of UK’s biggest corporate solar power producers
12:24 Gdansk, Poland to host Transport Week 2018 on March 6-8
12:01 JNPT records growth of 5.76% in container handling DPD share up at 34.73 per cent