Golden Ocean Orders Two Fuel-Efficient Bulkers from Japan

by Ship & Bunker News Team
Tuesday April 2, 2013

Golden Ocean Group Limited [STO:GOGLO] says it has ordered two fuel-efficient 60,000 deadweight tonne (dwt) Supramax bulk carriers from Japan Marine United Corporation (JMU).

The company plans to received the vessels in the first quarter of 2015.

"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 in a statement.

While financial terms of the deal were not disclosed, supramaxes have been selling for $25 million to $27 million, according to industry news site Seatrade Global.

Golden Ocean is part of John Fredriksen's group of shipping companies, which have been focused on acquiring fuel-efficient ships in recent months.

Another Fredriksen company, Frontline 2012 Ltd. has invested $2.6 billion in vessels that use 30 percent less fuel, and a third company, Knightsbridge Tankers Limited [NASDAQ:VLCCF] (Knightsbridge), recently announced that it had ordered two fuel-efficient Capesize bulk carriers from JMU.