- Golden Ocean ( NASDAQ: GOGL ) has entered into agreements for the construction of three high-specification 85,000 dwt ECO-type dual-fuel Kamsarmax vessels, which will be equipped with the latest and most efficient propulsion system.
- Additionally, the company announces the sale of two Ultramax vessels, Golden Cecilie and Golden Cathrine for sale price of $63M.
- The newbuilding vessels will have the same specifications and will be constructed with the same Chinese shipyard group as the seven newbuilding vessels the company previously contracted, providing additional benefits in terms of building supervision and the efficiency gained by operating vessels with similar specifications.
- The vessels will be delivered to the company in the third quarter of 2024 and the first quarter of 2025.
- The company expects to record a gain of approximately $22M from sale and receive net cash proceeds of approximately $41M in late Q3/early Q4 2022.
- The sales proceeds will fund the expected equity portion payable for the three Kamsarmax newbuilding orders placed.
For further details see:
Golden Ocean to construct three Kamsarmax vessels, sell two vessels