- Net income of $0.4 million and earnings per share of $0.00 for the third quarter of 2017, compared with net loss of $12.0 million and loss per share of $0.10 for the second quarter of 2017 and net loss of $26.7 million and loss per share of $0.25 for the third quarter of 2016.
- Adjusted EBITDA of $40.4 million for the third quarter of 2017 compared with $29.7 million in the second quarter of 2017 and $8.6 million for the third quarter of 2016.
- Entered into agreement to sell six Ultramax vessels.
- Took early delivery of one Capesize newbuilding and took delivery of the remaining three of the14 modern dry bulk vessels acquired from Quintana Shipping Ltd. ("Quintana") earlier this year.
- Raised $100 million in capital through a $66 million equity offering and a $34 million equity in-kind contribution as partial consideration for two modern Capesize vessels acquired from affiliates of Hemen Holding Limited ("Hemen").
- Terminated the covenant waivers related to the Company's recourse debt.
GOGL released third quarter 2017 results
posted by AJOT | Nov 21 2017 at 10:32 AM | Maritime
Golden Ocean Group Limited (NASDAQ: GOGL / OSE: GOGL) (the "Company" or "Golden Ocean"), a leading dry bulk shipping company, today announced its results for the quarter ended September 30, 2017.
Highlights