Agreement To Construct Three Kamsarmax Vessels


Golden Ocean Group Limited, one of the world’s largest listed dry bulk shipowners, announced that it has entered into agreements for the construction of three high-specification 85,000 dwt ECO-type dual-fuel Kamsarmax vessels says Golden Ocean. 

  •  Dual-fuel Kamsarmax vessels to be equipped with the latest and most efficient propulsion system.
  • The Company announced the sale of two Ultramax vessels, Golden Cecilie and Golden Cathrine.


The new building vessels will have the same specifications. It will be constructed with the same leading Chinese shipyard group. The delivery of the vessels will be in the third quarter of 2024 and the first of 2025. The aggregate sale price of the Ultramax vessels is $63 million, and the Company expects to record a gain of approximately $22 million from sales and receive net cash proceeds of approximately $41 million in late Q3/early Q4 2022.


Ulrik Andersen, CEO of Golden Ocean Management AS commented:

“Golden Ocean is committed to maintaining one of the largest and most modern fleets in the industry. In the process, the Company will continue to improve the fuel efficiency of its fleet, ensuring best-in-class performance at a reduced carbon footprint. Importantly, all of our new buildings are dual-fuel ready, which provides us with the flexibility to evaluate propulsion options as the visibility of future emissions-related regulations and technology improves. Golden Ocean will be offsetting a portion of the cost to construct the new vessels with the net proceeds from the sale of the two Ultramax vessels sold at attractive prices, enabling the Company to continue to execute its strategy without impacting its dividend capacity.“

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Source: Golden Ocean


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