Golden Ocean rises 0.5 percent Monday after the company has entered into a sale-leaseback agreement with Ship Finance for eight Capesize vessels. The total sales value is $ 272 million. The company also sold two older vessels, and four newbuildings.
Clarkson Platou Securities writes that transactions strengthens our balance sheet, and believes that they are reasonable given the current market situation, reports TDN Finans.
Analysts refers to statements from company management about the pricing of contracts and vessels may represent a bottom in the market, and that a strong balance sheet is important in a market situation where opportunities may arise.
– This opens consolidation at a later date, maintains brokerage, according to TDN Finans.
The company itself emphasizes that the agreements do not mean that it goes away from its strategy to help to consolidate the market, and writes that these measures are helping to position the company for interesting opportunities “in the coming months.”
Clarkson Platou Securities reiterates its sell recommendation on Golden Ocean shares, showing that current share price is significantly higher than the net asset value and prospects dividend would imply.
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