Site Search

DEUTSCH All Languages

Companies in the News

Golden Ocean Group (OSL:GOGL) GOGL - Sale Leaseback Agreement

Golden Ocean Group (OSL:GOGL) Golden Ocean Group Limited ("Golden Ocean" or "the Company") is pleased to advise that the Company has sold one of the Kamsarmax newbuildings ordered in October 2007 at Zhoushan Jinhaiwan Shipyard (Jinhaiwan) in China.
The vessel is scheduled to be delivered in Q3 2009 and will then be delivered to the buyers. The sale proceeds are $65.3 million.

Upon delivery from the shipyard, the vessels will commence a 10 year bareboat contract to Golden Ocean, at a daily rate of $21,975.

Golden Ocean has further been granted fixed price purchase options after 3 years and have thereafter yearly options until the maturity of the bare boat contract. The purchase option price after 10 years is $40 million.

The transaction is likely to increase the company's cash position at the time of delivery with $21 million including installments already paid.

Given the cost of capital and the flexible structure of this deal, the Management of Golden Ocean finds this transaction attractive.

Hamilton, Bermuda September 24, 2008

Contact Persons: Herman Billung: CEO, Golden Ocean Management AS +47 22 01 73 40

Geir Karlsen: CFO, Golden Ocean Management AS +47 22 01 73 53

Golden Ocean Group

http://www.goldenocean.bm

ISIN: BMG4032A1045

Stock Identifier: XOSL.GOGL

Verbundene Unternehmen

Golden Ocean Group

ABN Newswire Diese Seite wurde besucht: (letzten 7 Tagen: 4) (letzten 30 Tagen: 11) (seit Veröffentlichung: 780)