Golden Ocean Group Limited ("Golden Ocean" or the "Company") advises that the Company today has been contacted by Sanko Steamship Co., Ltd. ("Sanko") where they ask Owners for deferred payments in relation to hire payments. Sanko has also sent out a press release on March 9 where they assure that they fully intend to meet all financial obligations and that they will restructure and strengthen the company's balance sheet.
The Company has the vessel Golden Feng on charter to Sanko at $46,000 / day net, for a period up to minimum January 10, 2014. The Company has received all hire up until March 10, 2012 in full, and has as per that date no outstanding hire due from the charterer. The Company has received part payment for the next fifteen days' hire.
The Company's management will endeavor to protect the value of the charter contract with Sanko.
March 12, 2012
The Board of Directors
Golden Ocean Group Limited
Hamilton, Bermuda
Contact Persons:
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
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: Golden Ocean Group via Thomson Reuters ONE
