Golden Ocean Group

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Golden Ocean Group Limited
Type Public
Founded 2004
Headquarters Hamilton, Bermuda
Key people John Fredriksen (Chairman of the board and CEO)
Industry Shipping
Products Dry bulk shipping
Revenue US $708 million (2007)[1]
Operating income ▲ US $242 million (2007)[1]
Profit ▲ US $201 million (2007)[1]
Website www.goldenocean.no

Golden Ocean Group (OSE: GOGL) is a Bermuda registered, Norway based dry bulk shipping company. The company was created as a demerged part of Frontline in 2004 and listed on the Oslo Stock Exchange. 39.9% of the company is indirectly owned by John Fredriksen, through Hemen Holding.

The fleet consists of 22 owned vessels (20 under construction), 24 chartered vessels (7 with purchase options), 7 bare boat vessels (all with purchase options), 10 vessels under commercial management (all ore-bulk-oil carrier, two under construction) and 9 sold up on yard delivery. 16 of these are capesize while 56 are panamax, of which 1 capesize and 8 panamaxes are sold when delivered from yard.

Management of the fleet is carried out by the Norwegian company Golden Ocean Group Management AS lead by Herman Billung (from Klaveness 2005).

[edit] References

  1. ^ a b c Annual Report 2007. Golden Ocean Group. Retrieved on 2008-05-27.
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OBX companies of Norway


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