Golden Ocean still confident in spot market

Norwegian Golden Ocean finished the fourth quarter 2013 with an operating profit of USD 32 million. With prospects of a positive spot market, the carrier's fleet will remain heavily exposed to the market.

Photo: Golden Ocean

Dry bulk carrier Golden Ocean finished the fourth quarter 2013 with a USD 32 million operating profit (EBITDA) and a net result of USD 18 million, which marks a USD two million improvement over the same period last year. The result also surpassed analyst expectations, at USD 16.3 million.

Operating revenue in the quarter declined by USD 7.8 million, while operating expenses increased by USD7.6 million. According to Golden Ocean, this development was caused by lower short-term trade activity in the quarter.

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