Golden Ocean sells a variety of ships and releases nearly 150 million dollars. Analysts are positive, but believes the stock is too high priced.
The article is added to your reading list.
John Fredriksen Golden Ocean disposes of 14 large bulk carriers for around $ 470 million, 3.65 billion. In addition, the company has negotiated agreements with several shipyards to postpone delivery of eight newbuildings.
– We do this in order to strengthen the balance sheet, ensuring a straightforward cash and position us for the future, says Golden Oceans CFO Birgitte Ringstad Vartdal.
She believes it is right to do something now, considering that the weak freight market for dry bulk vessels can come to last a while.
Fredriksen dry bulk shipping company sells parts of its growing fleet of so-called Capesize vessels to group shipowning company Ship Finance International. Meanwhile commits dry cargo shipping company to lease the eight ships back up to 13 years. The first seven years the day rate as Golden Ocean must pay $ 17,600 per ship. So far this year such ships had an average earnings of modest $ 5,300 a day in the spot market.
No comments:
Post a Comment