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Fredriksen merges his dry bulk giants

Norwegian Golden Ocean and Knightsbridge are now merging and thus creating one of the largest dry bulk carriers in the world. The company's Board of Directors believes in further consolidation in a weak market.

Photo: Golden Ocean

John Fredriksen's Golden Ocean and Knightsbridge will not just share the major Capesize vessels; the two carriers will now be merged together into one company, according to a joint corporate statement from the two companies.

The new company will continue under the Golden Ocean Group Limited name after securing approval from shareholders in December or January 2015, and according to the statement the move will result in one of the world's largest dry bulk carriers with a fleet of 72 modern ships, including 36 newbuildings currently under construction.

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