The John Fredriksen-controlled dry bulk carrier Golden Ocean suffered a net deficit of USD 33.5 million in the second quarter 2015 compared to a profit of USD 6.3 million in the same period last year. For the first half of the year, the carrier's interim report, published Wednesday, shows a deficit of almost USD 111 million.
In addition to a weak dry bulk market, the massive deficit is attributed to a significant increase in operating costs, from USD 13.7 million in 2014 to around USD 70.1 million in the second quarter this year, following the merger of the two Fredriksen-companies Golden Ocean and Knightsbridge.
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