Golden Ocean CEO: Recapitalization was a massive success

In an interview with ShippingWatch, Herman Billung, CEO of dry bulk carrier Golden Ocean, voices his satisfaction that the carrier with its recent USD 200 million share issue will now avoid having to divest parts of its fleet at spot prices. However, he rejects talks of acquisitions.

BY JOHANNES HARTKOPF-MIKKELSEN

From February 18th to 19th, Norwegian dry bulk carrier Golden Ocean managed to sell new shares for a total of USD 200 million to existing primary shareholders headed by John Fredriksen. As such, the carrier has secured deferral on loans for two and a half years, to the great satisfaction of CEO Herman Billung.

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Golden Ocean exits 2015 with massive deficit
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Golden Ocean CEO: 2016 will be a dry bulk elimination race
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"I would absolutely have done the same thing today"

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Golden Ocean CEO: Recapitalization was a massive success

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Golden Ocean exits 2015 with massive deficit

Golden Ocean CEO: 2016 will be a dry bulk elimination race

"I would absolutely have done the same thing today"

Sign up for our newsletter

Front page now

Maritime & Merchant notes fierce competition in loans for shipping

14 arrested at demonstration in front of Maersk headquarters

Norwegian car carriers bag multi-year contracts

Record influx of container ships this year will not cause trouble until 2025

Cosco and CMA CGM expect further pressure on major European ports

Kuehne+Nagel triggers unrest among staff with new management structure

Dry bulk players dismiss green fuels in favor of low-hanging fruits

Less than one percent of the container fleet is currently idle

Congestion in Asian ports is now as bad as during Covid

Analysis: Capesizes have become too expensive despite strong market

UK Chamber of Shipping calls for more trade-friendly policies

IMO's fossil fuel ban in the Arctic faces criticism

Further reading

Kuehne+Nagel triggers unrest among staff with new management structure

Cosco and CMA CGM expect further pressure on major European ports

Congestion in Asian ports is now as bad as during Covid

Less than one percent of the container fleet is currently idle

Dry bulk players dismiss green fuels in favor of low-hanging fruits

Analysis: Capesizes have become too expensive despite strong market

Jobs