【Golden Ocean KU3 交流专区】英国金洋 GOLDEN OCEAN GROUP LIMITED

icy97

Golden Ocean Group Ltd. (GOGL) is a leading international dry bulk shipping company based in Bermuda, mainly operating in the Capesize and Panamax market segments. The Golden Ocean Group fleet is managed by the fully owned subsidiary Golden Ocean Group Management (Bermuda) Ltd, who in turn has subcontracted services to Golden Ocean Management AS and Golden Ocean Management Asia Pte Ltd.

Mission is to provide customers with flexible and reliable transportation services and develop strong industry relations with partners and customers, leading to superior returns to the Company's shareholders.

Golden Ocean Group is operating with a fully integrated commercial management structure responsible for all vessels and contracts. Technical operations and crewing of all owned vessels is outsourced to a few leading ship management companies. The Company is focusing on the Panamax and Capesize market. Golden Ocean Group is targeting low overhead and daily ship operating costs.

Golden Ocean seeks to optimize its investment and divestment decisions, and the short and long chartering positions, as a function of the cyclical nature of the business. In order to optimize the return to equity holders, the company is seeking financing which includes an attractive combination of debt and equity. Golden Ocean is, in connection with ownership of vessels, focusing on the overall cash break-even rates needed to support the specific project as well as the company.

To balance the risk Golden Ocean might seek charter coverage in the physical and financial markets. The growth of the Company can be achieved by acquiring additional tonnage through individual purchases, en bloc purchases, as well as small or large corporate transactions. The growth can also be achieved through entering into major short or long term contracts for transportation of goods and chartering of vessels.

Golden Ocean is positioning itself as an attractive investment vehicle for public investors. The major building blocks are transparency, good corporate governance, strong management team, competitive cost base, active business dealing, and attractive long term equity return and shareholder friendly information philosophy. Efficiently priced equity is a major condition for the growth of the company. Through an attractively priced equity, Golden Ocean can act as a consolidator in a highly fragmented market.

公司官网：http://www.goldenocean.no/

Name of Announcer *	GOLDEN OCEAN GROUP LIMITED
Company Registration No.	N.A.
Announcement submitted on behalf of	GOLDEN OCEAN GROUP LIMITED
Announcement is submitted with respect to *	GOLDEN OCEAN GROUP LIMITED
Announcement is submitted by *	Per Heiberg
Designation *	VP Finance
Date & Time of Broadcast	23-Aug-2013 14:08:52
Announcement No.	00035

>> ANNOUNCEMENT DETAILS

The details of the announcement start here ...

For the Financial Period Ended *

30-06-2013

Description

GOGL Second Quarter and First Half Year 2013 Results Highlights Golden Ocean generates second quarter 2013 EBITDA* of $49.5 million Golden Ocean reports profit of $43.5 million for the second quarter of 2013 Golden Ocean announces dividends of US $0.01 per share for the second quarter of 2013 The Company entered into an agreement for three Supramax vessels and three options at Chengxi Golden Ocean settled a dispute related to non-performance on a 10 year charter and received $30 million The Company took delivery of the ice class Panamax vessel Golden Pearl in June 2013 The JV owned 50% by the Company took delivery of the Capesize vessel Golden Magnum in June 2013 The Company has cancelled two newbuilding contracts in the second quarter *EBITDA is equal to operating profit plus depreciations (including impairment related to vessels) and amortisation. Second Quarter and First Half Year 2013 Results Golden Ocean Group Limited (the Company or Golden Ocean) reports profit of $43.5 million and earnings per share of $0.10 for the second quarter of 2013. This compares with profit and earnings per share of $6.8 million and $0.015 respectively for the first quarter of 2013. Total operating revenues for the second quarter were $104.7 million, total operating expenses were $63.5 million and other gains/losses net were negative with $1.4 million. Net financial items were positive with $3.7 million. The profit for the period of $43.5 million is an increase of $36.7 million compared to last quarter. This increase is mainly related to the settlement of $30 million received for an old non-performing ten year charter contract and the increased value of interest rate swaps. The operating revenues increased by $50.3 million, and the operating expenses increased by $18.7 million. In addition to the settlement, higher activity on short term contracts increased both revenues and costs for the quarter. Total other gains/ (losses) net decreased by $3.2 million. This leads to an increase in operating income of $28.4 million. Except for the settlement and the interest rate swaps the results are more or less in line with the first quarter 2013. Cash and cash equivalents decreased by $2.0 million during the quarter. The Company generated cash from operating activities of $40.2 million during the quarter and the change in restricted cash was negative with $2.4 million. The Company paid $35.2 million in installments and other predelivery costs and investments in new assets in the quarter. The Company invested $18.3 million in a Joint Venture for the purchase of the Capesize vessel Golden Magnum (financing is expected to take place within the next three months, which will reduce the investment by $11.8 million). Financing activities were positive with $13.4 million in the quarter. Ordinary repayments of long term debt amounted to $6.1 million while the Company obtained new bank financing and sellers credit related to delivery of Golden Pearl of $24.0 million. The full report is available in the link below. August 23, 2013 The Board of Directors Golden Ocean Group Limited Hamilton, Bermuda Questions should be directed to: Herman Billung: CEO Golden Ocean Management AS +47 22 01 73 41 Birgitte Ringstad Vartdal: CFO Golden Ocean Management AS +47 22 01 73 53

Attachments

GOGLpressreleaseQ213.pdf

Announcement Title *

GOGL - Q2 2013 Presentation

Description

Please find enclosed the presentation of the Second Quarter 2013 Results, held in the morning onFriday August 23, 2013. Oslo, August 23, 2013

Attachments

GOGLQ22013Resultspresentation.pdf

icy97

Wilmar, Golden Agri fall on high palm oil stockpile
Source: Reuters   |   Publish date: Wed, 11 Dec 14:05  
http://www.theedgesingapore.com/the-daily-edge/business/46640-wilmar-golden-agri-fall-on-high-palm-oil-stockpile-index-eases.html

Shares in Golden Agri-Resources and Wilmar International fell on Wednesday, weighed down by high palm oil stockpile in Malaysia, making them among the worst performers on Singapore’s benchmark index.

Wilmar fell more than 1% to a one-month low of $3.37, while Golden Agri shares fell 0.9% to $0.55, hovering above a six-week low of $0.545 hit last week, after data showed Malaysia’s November palm oil stockpile rose to an eight-month high on weaker exports.“We expect near-term correction in palm oil prices, and recommend investors to take profit, following the strong run since the end of Sept. 13,” DBS Vickers analysts wrote in a research note.

Both Wilmar and Golden Agri shares have risen more than 15% from end of September to mid-November.

CIMB said it preferred Wilmar and First Resources among Singapore-listed palm oil plays, adding that the impact of the high stockpile should be partially offset by possibly lower production in Malaysia in December.