Golden Ocean Buys Out Capesize Bulker from Its Joint Venture Partner

Golden Ocean Group Limited has acquired the outstanding 50% of the 2009 Korean built 180,000 dwt Capesize bulk carrier Golden Magnum from its Joint Venture partner.

The vessel was acquired in May 2013 and delivered in June of the same year. The Company believes that there is still some upside potential in asset values compared to the fair price the strategic partner has offered Golden Ocean. The partners continue to own one vessel jointly.

Through the acquisition Golden Ocean increases it’s exposure toward the capesize market and with prompt delivery it is expected that the vessel will contribute positively to the Company’s cash flow from the end of present quarter

Golden Ocean, March 14, 2014

Share this article

Follow World Maritime News

In Depth>

Events>

<< Nov 2019 >>
MTWTFSS
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 1

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >

CrewConnect Global 2019

CrewConnect Global is the leading forum for collaboration to advance new industry approaches to seafarer recruitment and training.

read more >

CruiseConnect Global 2019

Attend CrewConnect Global and stay on for the CruiseConnect Summit to take part in an industry-wide conversation focused…

read more >

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >