GOGL Takes Delivery of Two More Dry Bulkers

Image Courtesy: Quintana Shipping

Bermuda-based dry bulk shipping company Golden Ocean Group Limited (GOGL) has taken delivery of two more dry bulk carriers from Greek Quintana Shipping. 

The vessels in question are the Post-Panamax ship Q Kennedy and the Capesize bulker Q Amreen.

In exchange for Q Kennedy, which will be renamed to Golden Kennedy, GOGL has issued 1.7 million consideration shares to Quintana and associated companies.

The 85,000 dwt Q Kennedy was built at Japanese Sasebo shipyard in 2015. Its market value currently stands at USD 25.47 million, VesselsValue’s data shows.

Furthermore, GOGL has issued 1.2 million consideration shares to Quintana and associated companies for Q Amreen, to be renamed Golden Amreen.

The 179,400 dwt Q Amreen was constructed at South Korean Sungdong shipyard in 2015 and has a market value of USD 39.11 million.

Following the said transactions, the company’s issued share capital is USD 5,893,649.6 divided into 117,872,992 issued shares, each with a nominal value of USD 0.05.

In March this year, GOGL entered into agreements to acquire a total of sixteen dry bulk vessels, including the dry bulk pair, from Quintana in an all-share transaction under which the company will issue 17.8 consideration shares and assume debt of USD 285.2 million.

The first two ships from the batch were handed over to GOGL in late April.

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