Saturday, November 10, 2007

Golden Ocean sells vessels

Golden Ocean Group Limited has agreed to sell the six panamax newbuildings contracted in March 2007 at Pipavav in India.


The vessels are sold for net sale proceeds of $352.8 million and delivery to the buyers is expected to take place between March 2009 and July 2010. Golden Ocean will initially receive $70.6 million of the purchase price. The transaction will give a positive result of approximately $127 million, and this will be recorded at delivery of the vessels.


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