Golden Ocean Group Ltd Stock Price, News & Analysis

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.

Golden Ocean Group (NASDAQ/OSE: GOGL) has announced the declaration of purchase options for eight Capesize vessels currently under long-term charter-in agreements with SFL subsidiaries. The total purchase price is set at $112 million en-bloc, with the options being exercised at the 10-year anniversary of the charter agreements.

The acquisition will be financed through a combination of a new $90 million revolving credit facility and cash on hand. The transaction is expected to complete during Q3 2025, subject to standard documentation and closing procedures.

Golden Ocean Group (GOGL) has reported new transactions under its share buy-back program. Between December 20-23, 2024, the company purchased 80,000 of its own common stocks on the Oslo Stock Exchange at an average price of NOK 99.15 per share. Following these transactions, GOGL now owns 1,787,328 shares, representing 0.89% of the company's share capital. This is part of the previously announced USD 100 million buy-back program launched on October 2, 2024, which allows for purchasing up to 10,000,000 common shares over a 12-month period.

Golden Ocean Group (GOGL) has continued its share buy-back program, purchasing 545,000 of its own common stocks between December 11-17, 2024. The company acquired 420,000 shares on the Oslo Stock Exchange at an average price of NOK 101.62 per share and 125,000 shares on Nasdaq at an average price of USD 9.21 per share. Following these transactions, GOGL now owns 1,707,328 of its own shares, representing 0.85% of the company's share capital. This is part of the previously announced USD 100 million buy-back program launched on October 2, 2024, which allows for purchasing up to 10,000,000 common shares over a 12-month period.