Golden Ocean Group Limited, a leading dry bulk shipping company, has announced its results for the quarter ended June 30, 2018.
Highlights
Net income of $9.0 million and earnings per share of $0.06 for the second quarter of 2018, compared with net income of $16.7 million and earnings per share of $0.12 for the first quarter of 2018 and net loss of $12.0 million and loss per share of $0.10 for the second quarter of 2017. Net income of $25.7 million and earnings per share of $0.18 for the first six months of 2018, compared with net loss of $29.8 million and loss per share of $0.26 for the first six months of 2017
Adjusted EBITDA of $54.0 million for the second quarter of 2018, compared with $53.3 million for the first quarter of 2018 and $29.7 million for the second quarter of 2017
Entered into a $120 million loan facility to refinance 10 vessels on favorable terms
Delivered the Golden Eminence, a Panamax vessel, to her new owner in early August 2018
Signed contracts to install exhaust gas scrubbers on 16 Capesize vessels and options for 9 additional installations
Announces a cash dividend of $0.10 per share for the second quarter of 2018