ShippingWatch

Analysts believe in Golden Ocean fleet growth

Golden Ocean will most likely acquire new ships for its fleet, says several analysts after the carrier published its annual report on Tuesday. The necessary liquidity is in place.

Photo: Golden Ocean

Norwegian dry bulk carrier Golden Ocean is in a solid cash position with increasing profits, and not least with funds from an arbitration case against shipyard Jinhaiwan concerning nine canceled newbuildings, from which Golden Ocean expects to gain a positive cash flow of USD 132 million during 2014. And according to several analysts, this situation makes it likely that the carrier will invest in even more in ships.

"(...) with the Company saying it has no rush buying assets and may in fact sell vessels if valuations reach acceptable levels. However, we find management to share our optimistic view on the markets and expect GOGL (Golden Ocean, ShippingWatch comment) to use its substantial cash buffer to acquire further ships or pay out more dividends," says Platou in an analysis.

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
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

Several factors explain the plummeting dry bulk rates

Dry bulk rates have taken an unusual dive at the beginning of 2022. Most recently, the Baltic Dry Index dipped by 4 percent Friday. Several factors have triggered a ”panic in the market,” an analyst explains to ShippingWatch.

Further reading

Related articles

Latest news

See all jobs