World News
Golden Ocean Orders Fuel-Saving Bulkers
Golden Ocean Group Limited [STO:GOGLO] (Golden Ocean) says it has ordered three fuel-efficient Supramax bulk carriers, with an option for three more, which will bring it to a fleet of five to eight of the fuel-saving vessels within a few years.
The company ordered the three 64,000 dead weight tonne (dwt) ships from Chengxi Shipyard Co. Ltd. and China Shipbuilding and Trading Company Limited (CSTC) with delivery scheduled for the first half of 2015 and the option for additional vessels to be declared within four months.
"The Board is of the opinion that it has obtained favorable terms, attractive pricing and considers risk / reward as attractive from a historical perspective," the company said.
Golden Ocean announced this spring that it had ordered two fuel-efficient 60,000 dwt Supramax bulk carriers from Japan Marine United Corporation (JMU).
John Fredriksen, chairman of the board and a major investor in Golden Ocean, recently said he is hoping for a recovery in the dry bulk shipping market by the middle of next year.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 509.00 | 4.50 | 623.00 | 3.00 |
| Rotterdam | 463.00 | 7.00 | 623.50 | 2.00 |
| Houston | 471.50 | 4.50 | 627.50 | 3.50 |
| Fujairah | 501.00 | 4.50 | 714.00 | 1.00 |
| Global 20 Ports Average | 529.00 | 2.50 | 714.50 | 2.50 |
| Global 4 Ports Average | 486.00 | 3.00 | 647.00 | 2.50 |
| Global Average Bunker Price | 572.50 | 2.00 | 753.00 | 2.00 |
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