Golden Ocean Group Limited, the world’s leading owner of large size dry bulk vessels, today announced its unaudited results for the three and nine months period ended September 30, 2022.
Highlights
Estimated TCE rates, inclusive of charter coverage, calculated on a load-to-discharge basis are approximately:
$23,100 per day for 75% of Capesize available days and $19,100 per day for 78% of Panamax available days for the fourth quarter of 2022; and$21,300 per day for 4% of Capesize available days and $21,150 per day for 21% of Panamax available days for the first quarter of 2023.
Announced a cash dividend of $0.35 per share for the third quarter of 2022, payable on or about December 5, 2022 to shareholders of record on November 28, 2022. Shareholders holding the Company’s shares through Euronext VPS may receive this cash dividend later, on or about December 7, 2022.
Ulrik Andersen, Chief Executive Officer, commented:
“While geopolitical and macroeconomic factors present a challenging backdrop, Golden Ocean generated solid results in the third quarter. Our modern, fuel-efficient vessels command a significant premium to benchmark earnings, a factor that has helped us consistently outperform the market this year. Based on our contracted charter coverage, we expect to generate strong results in the fourth quarter of 2022 ahead of an expected seasonal slowdown in the first quarter of next year. Our strong earnings generation potential, combined with an expectation for historically low fleet growth, gives us confidence in our positive long-term outlook. This is reflected in our continued commitment to returning dividends to our shareholders and in our recently announced share buy-back program.”
Source: Golden Ocean Group
