Golden Ocean Group Ltd

GOGL

Equity

ISIN BMG396372051 / Valor 33387070

Oslo Stock Exchange (2025-08-21)

NOK 81.28-0.56%

Golden Ocean Group Ltd
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About company

Golden Ocean Group Ltd is a dry bulk shipping corporation that specializes in the transportation of dry bulk cargo such as ores, coal, grains, and fertilizers. The company operates a fleet of owned and chartered vessels, as well as bareboat vessels and new buildings that are chartered-out on fixed rate time charters and index-linked time charter contracts. With a focus on the global transportation of essential commodities, Golden Ocean Group plays a key role in the maritime industry by efficiently moving goods across international waters.

Summarized from source with an LLMView SourceSector: Consumer Services

Quarterly and Annual Net Income

In the fourth quarter of 2024, Golden Ocean Group Ltd reported a net income of $39.0 million and earnings per share of $0.20, down from $56.3 million and $0.28 per share in the third quarter of 2024. However, for the full year 2024, the company achieved a net income of $223.2 million and earnings per share of $1.12, doubling the $112.3 million and $0.56 per share reported in 2023.

Adjusted EBITDA Performance

The company's adjusted EBITDA for the fourth quarter of 2024 was $69.9 million, a decrease from $124.4 million in the third quarter of 2024, reflecting the impact of increased operational expenses and market fluctuations.

Increased Drydocking Expenses

Golden Ocean recorded $34.3 million in drydocking expenses in the fourth quarter of 2024, associated with 13 drydockings, compared to $9.7 million for five drydockings in the third quarter of 2024. This increase underscores the company's commitment to maintaining and upgrading its fleet.

Fleet Utilization and TCE Rates

The company's fleet achieved reported TCE rates of $24,656 per day for Capesize vessels and $14,771 per day for Panamax vessels, averaging $20,809 per day across the entire fleet in the fourth quarter of 2024. These rates reflect the company's strong market position despite challenging conditions.

Share Repurchases and Dividend Declaration

Golden Ocean repurchased 625,000 shares at an aggregate purchase price of $5.7 million. Additionally, the company announced a cash dividend of $0.15 per share for the fourth quarter of 2024, payable in March 2025, reinforcing its commitment to returning value to shareholders.

Summarized from source with an LLMView Source

Key figures

-37.5%1Y

-19.9%3Y

121%5Y

Performance

53.9%1Y

42.3%3Y

208%5Y

Volatility