Golden Ocean Group Ltd Stock Price, News & Analysis

Golden Ocean Group Limited (GOGL) announced agreements to construct three dual-fuel Kamsarmax vessels, boosting its fleet efficiency. The new vessels, set for delivery between Q3 2024 and Q1 2025, will feature advanced propulsion systems. Additionally, the sale of two Ultramax vessels, Golden Cecilie and Golden Cathrine, generated $63 million, with an expected gain of $22 million. The proceeds will help fund the newbuilding orders while preserving dividend capacity. CEO Ulrik Andersen emphasized the company's commitment to a modern, fuel-efficient fleet and its adaptability to future emissions regulations.

Golden Ocean Group Ltd has announced that eligible option holders have exercised share options. CEO Ulrik Uhrenfeldt Andersen exercised 300,000 options and sold the same number of shares, now retaining 250,000 options. CFO Peder Simonsen exercised 75,000 options, sold 75,000 shares, and currently holds 200,000 options and 500 shares. These transactions comply with Article 19 of the Market Abuse Regulation and the Norwegian Securities Trading Act, with additional details provided in the attached forms.

Golden Ocean Group Limited will present its first quarter 2022 results today at 15:00 CET via a webcast and conference call. Interested parties can attend the webcast through a provided link or join by dialing the applicable numbers based on their location, including international and toll-free options for the US, UK, and Norway. Presentation materials will be available for download on the company's website, and replay details will also be accessible there. This information complies with the Norwegian Securities Trading Act disclosure requirements.

Golden Ocean Group Limited (NASDAQ: GOGL) reported its unaudited results for Q1 2022, showing a net income of $125.3 million and earnings per share of $0.63, a decline from $203.8 million and $1.02 in Q4 2021. Adjusted EBITDA was $149.4 million, down from $243.5 million the previous quarter. The Company announced a cash dividend of $0.50 per share, payable on June 8, 2022. Average TCE rates for Capesize and Panamax vessels were reported at $24,778 and $23,693 per day, with expectations for higher rates in Q2 and Q3 2022.

Golden Ocean Group Limited is set to release its financial results for Q1 2022 on May 19, 2022. The announcement will be followed by a teleconference and webcast at 3:00 PM CET (09:00 AM New York Time). Participants can join via www.goldenocean.bm for the webcast or dial in using various international numbers provided. To access the presentation, participants are advised to download materials from the Investor Relations section prior to the event. The replay of the teleconference will also be available with specific access numbers.

Golden Ocean Group Limited (GOGL) announced the resignation of Mr. Tor Svelland from its Board of Directors, effective May 2, 2022. Mr. Svelland has been a director since August 2020. The Board expressed gratitude for his contributions during his tenure and wished him well in future endeavors. This announcement adheres to the disclosure requirements under the Norwegian Securities Trading Act and the Continuing Obligations of Oslo Børs.

Golden Ocean Group Limited (NASDAQ and OSE: GOGL) has filed its annual report on Form 20-F for the year ending December 31, 2021, with the U.S. Securities and Exchange Commission. This comprehensive report includes 2021's audited financial statements and can be accessed via the Company’s website or the Commission’s site. Shareholders can also request a hard copy of the Annual Report from the Investor Relations department. This filing complies with section 5-12 of the Norwegian Securities Trading Act.

Golden Ocean Group Limited (Nasdaq and OSE: GOGL) has announced the sale of three older Panamax vessels—Golden Empress, Golden Enterprise, and Golden Endeavour—for a combined price of $52 million. This sale is part of the company's strategy to modernize its fleet, which will significantly reduce emissions. Golden Ocean expects to realize a gain of approximately $9.6 million in Q2 2022 and net cash proceeds of around $30.7 million upon delivery. The company has sold a total of seven older vessels in the last 15 months, generating about $60 million to fund new Kamsarmax vessels currently under construction.

Golden Ocean Group Ltd (GOGL) has announced the appointment of Mr. Jens Martin Jensen as a Director. Mr. Jensen brings significant experience, having previously served as CEO of Athenian Holdings and held roles at New Fortress Energy and Frontline Management AS. His extensive background in shipping includes directorships at various companies, showcasing his expertise in the industry. This strategic appointment is intended to enhance the Board's capabilities and support the Company's growth objectives.