ShippingWatch

New Golden Ocean CEO powerless against dry bulk market

A new CEO will not result in a new strategy, Birgitte Ringstad Vartdal tells ShippingWatch after serving close to 100 days as chief executive of Golden Ocean. "In the current market, it's all about being able to deliver" she says.

Photo: Golden Ocean/PR

That a new chief executive has taken over does not necessarily herald a new strategy which will turn everything upside down. At least, that is not the case at John Fredriksen's dry bulk carrier Golden Ocean, where Herman Billung after 11 years of faithful service was dismissed in April and replaced by his CFO, Birgitte Ringstad Vartdal.

"In this market, and in light of the restructuring we underwent back in February, the key thing is to deliver as promised to our investors and banks," she tells ShippingWatch after the carrier published its results for the second quarter.

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