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.

Photo: Golden Ocean

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.

"The conclusion must be that this was a massive success. To raising this amount of money in a market this heavy speaks volumes about the trust we enjoy from the market," he tells ShippingWatch.

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