GOGL Expands Fleet with Capesize Bulker

Norway-based dry bulk shipping company Golden Ocean Group Limited (GOGL) has taken delivery of another second-hand bulker bought in March 2017 within a 16-vessel contract.

The ship in question is Q Gayle, a Capesize ore carrier which will be renamed Golden Gayle.

Built at Japanese Universal shipyard in 2011, the 206,600 dwt vessel has a market value of USD 38.21 million, VesselsValue’s data shows.

Of the 16 vessels acquired, 14 bulkers including Q Gayle were bought from subsidiaries of Quintana Shipping, while two ice class Panamax vessels were purchased from subsidiaries of Seatankers, an affiliate of Hemen Holding, the company’s largest shareholder.

GOGL said it has issued 1.8 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 6,206,149.60 divided into 124,122,992 issued shares, each with a nominal value of USD 0.05.

Q Gayle is the eight ship from the batch handed over to GOGL so far, following the last week’s delivery of Q Ioanari, the seventh vessel.

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