Golden Ocean looks to delay newbuild payments

Golden Ocean looks to delay newbuild payments

John Fredriksen’s bulker entity Golden Ocean is in talks with shipyards to delay newbuilding payments scheduled for this year having secured cash from the last of four capesize newbuildings sold in 2015, broking sources report.

Oslo-listed Golden Ocean is slated to take delivery of 11 further newbuildings, with five set to arrive in 2016 and the balance next year; they would consider it positive if the vessels were deferred beyond the first quarter of next year, as it is estimated to be a loss-making quarter.

Golden Ocean has $150.6m in payments due this year on its $349.9m orderbook.

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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