Golden Ocean delays six Chinese cape deliveries

Golden Ocean delays six Chinese cape deliveries

John Fredriksen’s Golden Ocean, in releasing its interims today, has revealed it postponed delivery of six capesizes by seven to nine months per ship. Golden Ocean chalked up a net loss of $107.5m in the first six months.

All of the firm’s orderbook is in China with nine capesizes on order at three Chinese yards plus four ultramaxes at Chengxi.

“Golden Ocean has good support from the yards and has already postponed many newbuilding orders and negotiations are ongoing for further delays,” the company said in a release today.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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1 Comment

  1. Avatar
    Brian R. McCaughrin
    August 24, 2016 at 2:05 pm

    This is “Prime Reason” Why Global Shipyards, Are in financial trouble today by Same People like John Fredriksen, We hear about year after years after year, who Control & Own Large Ship Owning Corporation, Like Golden Ocean. You Bought, You Pay when It Finished, You don’t delay delivery for Nine (9) more months. You take delivery, As Its On the purchase agreement, You signed for. You Ship Owners, All make demand to Ship Yard on Delivery Schedules, and Then You Choke, when you are having financial problems. I, disagree. It guys like you, Mr. Fredriksen, That screw things up for people like me trying to get ahead. So, Move over Sir,, and Sit this one out. The Global Economic Depression, That been with us All, Since 2007, Is far from over, So get all Your financial debt in line Mr. Fredriksen, because the other shoe, Has not dropped yet, and when it does, Your So called billions keeping you a float, will be gone in matter of seconds, and Your debt will be their to pay…