ShippingWatch

Golden Ocean loses USD 160 million in the first quarter

Major dry bulk shipping company Golden Ocean lost USD 160.8 million in a generally difficult first quarter for the dry cargo sector. The deficit is not least due to a large impairment of USD 125.6 million.

Photo: PR/Golden Ocean

The John Fredriksen-controlled dry bulk shipping company Golden Ocean booked a large bottom line deficit in a generally challenging first quarter for the dry bulk sector.

The company suffered a net loss of USD 160.8 million, attributed not least to a large impairment of USD 125.6 million. The impairment was made through a so-called non-cash adjustment and consists in part of a USD 94.2 million loss on leased ships. These include seven ships from John Fredriksen's shipowner SFL Corp.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Poseidon Principles set to raise ambitions in coming weeks

The banks in Poseidon Principles are working on the basis of halving CO2 emissions in shipping by 2050. At the same time, some of the same banks are working towards a target of CO2 neutrality by 2050 as part of the Net-Zero Banking Alliance. Before long, Poseidon will reassess its ambition.

Further reading

Related articles

Trial banner

Latest news

See all jobs