Another Bulker Handed Over to GOGL

Image Courtesy: Quintana Shipping

Dry bulk shipping company Golden Ocean Group Limited (GOGL) has taken delivery of one more secondhand bulker bought in March this year within a 16-vessel deal.

The ship in question is the 81,500 dwt Q Ioanari which will now be renamed Golden Ioanari.

Q Ioanari was built at South Korean Hyundai Mipo shipyard in 2011. Its market value currently stands at USD 19.47 million, VesselsValue’s data shows.

Of the 16 vessels acquired, 14 were bought from subsidiaries of Quintana Shipping, and two ice class Panamax vessels from subsidiaries of Seatankers, an affiliate of Hemen Holding, the company’s largest shareholder. Under the terms of the agreement, the company would issue in aggregate 17.8 million consideration shares and assume debt of USD 285.2 million.

Golden Ocean said it has issued 1.3 million consideration shares to Quintana Shipping and associated companies in exchange for the vessel.

Following this transaction, the company’s issued share capital is USD 6,116,149.1 divided into 122,322,992 issued shares, each with a nominal value of USD 0.05.

Q Ioanari is the seventh bulker from the batch delivered to the company so far. Earlier this week, Q Myrtalia and Q Shea were handed over to GOGL. Additionally, Q Kennedy and Q Amreen joined the company’s fleet in early May. Last month, Q Sue and Q Kaki were also delivered to GOGL.

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