GOGL - Contractual non performance
(Thomson Reuters ONE) - Golden Ocean Group Limited ("Golden Ocean or the "Company") today announces thatTrustworth Shipping PTE Limited, Singapore has failed to honor itsobligations as charterer of a ten year time charter contract on a newbuildingCapesize vessel named MV Golden Future. The vessel is scheduled to bedelivered from Jinhaiwan Shipyard to Golden Ocean by the end of January 2010.Following detailed negotiations with Mr. Anil V Salgaocar on behalf ofTrustworth and its guarantor Salgaocar Mining Industries of Goa, the vessel waschartered on 2 February 2008 by Golden Ocean to Trustworth for a period of 10years at a rate of $40,500 per day. The charterers and the guarantors haverecently without justification refused to take delivery of the vessel,stating that there is no contract or guarantee in existence, which is contraryto all oral and written communication leading up to, concluding and subsequentto the agreement.Golden Ocean will make every effort to pursue and secure its claim for damagesthrough legal proceedings.The vessel will now be employed in the market in order to mitigate losses.Hamilton, BermudaJanuary 20, 2010Contact persons:Herman Billung: CEO, Golden Ocean Management AS+47 22 01 73 40Geir Karlsen: CFO, Golden Ocean Management AS+47 22 01 73 53This information is subject of the disclosure requirements acc. to §5-12 vphl(Norwegian Securities Trading Act)[HUG#1375437]
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Datum: 20.01.2010 - 11:29 Uhr
Sprache: Deutsch
News-ID 1009144
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