Fearnley predicts Golden Ocean acquisition

Norwegian Golden Ocean will raise up to USD 200 million by issuing bonds, and could well use the fresh capital to acquire the fleet of carrier Greenship  Bulk Trust, says the analyst.

Photo: Golden Ocean

Golden Ocean is rumored to work on an acquisition of 20 dry bulk vessels from Greenship Bulk Trust, which is listed on the OTC Stock Exchange in Oslo, says Norwegian analysts Fearnley after Golden Ocean on Friday morning announced that the carrier plans to raise as much as USD 175-200 million by issuing shares with a five-year maturation period.

In October Golden Ocean invested USD 10 million in the company, a move explained by owner John Fredriksen through the fact that the companies work in a similar way, and that Golden Ocean liked the carrier's profile. This ownership is part of the reason Fearnley believes in an acquisition:

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