GOGL - Long term time charter contract>
GOGL - Long term time charter contract
(Thomson Reuters ONE) - Golden Ocean Group Limited ("Golden Ocean" or the "Company") ispleased to advise that the Company has utilized the recent strengthin the dry bulk market and fixed out on time charter the Panamaxvessel M/V Golden Sakura (76,000 dwt, built 2007). The vessel will bedelivered to the Charterer within the next month for a two years timecharter contract.The agreed daily time charter hire is $18,500 less 5% totalcommission. The vessel is on long term time charter to Golden Oceanat $10,700 per day. The agreed charter agreement further reduces thecompany's cash break even costs for its open tonnage and secures $5million in additional net income.Hamilton, BermudaJuly 9, 2009Contact Persons:Herman Billung: CEO, Golden Ocean Management AS+47 22 01 73 40Geir Karlsen: CFO, Golden Ocean Management AS+47 22 01 73 53This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
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