Golden Ocean Group Ltd Stock Price, News & Analysis

Golden Ocean Group (GOGL) has announced significant changes to its Board of Directors with the appointment of two new members. Carl Erik Steen, who brings extensive shipping and banking experience from his leadership roles at Nordea bank and Christiania Bank, joins the board. He currently serves as Chairman of Wilhelm Wilhelmsen Holding ASA and holds directorships in companies including Golar LNG and Himalaya Shipping

James Ayers, who has been GOGL's Secretary since 2018, has also been appointed as Director. Ayers currently serves as CEO of Front Ocean Management since 2021 and previously headed Corporate Administration at Frontline He holds director positions in Oslo-listed companies Paratus Energy Services and Northern Ocean , bringing significant maritime and offshore energy sector expertise.

Golden Ocean Group (GOGL) has announced significant changes to its Board of Directors. The company has appointed Mr. Patrick De Brabandere and Mr. Patrick Molis as new Directors, both bringing extensive maritime and financial industry experience.

Simultaneously, four directors have stepped down: Mr. Ola Lorentzon, Mr. John Fredriksen, Mr. Ben Mills, and Mr. Cato Stonex. The newly composed Board, now consisting of James O'Shaughnessy, Tonesan Amissah, and the two new appointees, plans to initiate discussions with CMB.TECH, GOGL's new reference shareholder.

The Board will explore potential strategic options, including commercial cooperation, operational and technical partnerships, and other business combinations. Importantly, the company has confirmed its intention to maintain its current dividend policy until further notice.

Golden Ocean Group (NASDAQ and OSE: GOGL) has announced the filing of its 2024 Annual Report on Form 20-F with the U.S. Securities and Exchange Commission. The annual report, which includes the company's complete 2024 audited financial statements, is now accessible through multiple channels:

• Company website: www.goldenocean.bm
• SEC website: www.sec.gov

Shareholders can request hard copies of the Annual Report by contacting the Investor Relations department. The announcement was made on March 20, 2025, by Peder Simonsen, who serves as both Interim Chief Executive Officer and Chief Financial Officer of Golden Ocean Management AS.

Hemen Holding has announced the sale of its entire 40.8% stake in Golden Ocean Group (NASDAQ/OSE: GOGL) to CMB.TECH (NYSE: CMBT & Euronext: CMBT) for approximately USD 1,179 million. The transaction involves 81,363,730 shares and is expected to complete on March 12, 2025.

Golden Ocean has evolved significantly since its 2004 spin-off from Frontline, expanding from 3 to 91 vessels to become one of the largest listed owners of large-size modern drybulk vessels. The company has distributed approximately USD 2 billion in dividends since 2004.

The transaction will not trigger a mandatory takeover bid and is exempt from U.S. Securities Act registration requirements.

CMB.TECH has announced the acquisition of a significant stake in Golden Ocean Group through its wholly-owned subsidiary. The transaction involves purchasing 81,363,730 shares from Hemen Holding at $14.49 per share, representing approximately 40.4% of Golden Ocean's issued share capital.

The acquisition aligns with CMB.TECH's strategic diversification objectives, with the company aiming to become a long-term shareholder in Golden Ocean and invest in a modern dry bulk fleet. The transaction completion is expected on March 12, 2025, with no conditions attached.

CMB.TECH has already identified a bank syndicate to refinance Golden Ocean's current outstanding debt if needed. The transaction will not trigger a mandatory takeover bid in any jurisdiction. Alexander Saverys, CEO of CMB.TECH, expressed commitment to building on Golden Ocean's legacy for long-term growth and innovation.

Golden Ocean Group has announced its fourth quarter 2024 financial results presentation, which will be delivered via a webcast and conference call at 15:00 CET.

The company will host a Q&A session following the presentation, with instructions for submitting questions to be provided at the start of the session. Participants can join through either a webcast link or conference call, with pre-registration required for the latter. The presentation materials will be available for download on the company's website, where replay access will also be provided.

Golden Ocean Group (GOGL), the world's largest listed owner of large dry bulk vessels, reported its Q4 2024 results. The company achieved a net income of $39.0 million ($0.20 per share), down from $56.3 million ($0.28 per share) in Q3 2024. Full-year 2024 net income reached $223.2 million ($1.12 per share), significantly higher than 2023's $112.3 million.

Key Q4 metrics include Adjusted EBITDA of $69.9 million and fleet TCE rates of $24,656 per day for Capesize vessels and $14,771 for Panamax vessels. The company completed 13 drydockings, announced a $0.15 per share dividend, and repurchased 625,000 shares for $5.7 million.

Strategic moves include exercising purchase options for eight vessels from SFL for $112 million, partially financed by a $90 million credit facility, and selling two vessels for $56.8 million.

Golden Ocean Group has announced it will release its Q4 2024 financial results on Wednesday, February 26, 2025. The company will host a conference call and webcast at 3:00 P.M. CET (9:00 A.M. New York Time) on the same day.

The presentation materials will be available for download from the Investor Relations section of the company's website prior to the event. Participants can join via webcast through the company's website or register for the conference call online. A Q&A session will follow the presentation.

Golden Ocean Group (GOGL) has announced the appointment of Tonesan Amissah as Director of the Company. Ms. Amissah brings over 30 years of experience in international corporate law to the board. She currently serves as a Client Director at Ocorian Services (Bermuda) , where she oversees client service operations.

Ms. Amissah's professional background includes a partnership at Appleby (Bermuda) , where she led the funds & investment services team. She holds a law degree from the London School of Economics and Political Science, qualified as a Barrister in London in 1988, and was called to the Bermuda Bar in 1992. She is also a member of the Institute of Directors and serves as a director for insurance companies.