Golden Ocean Sells Capesize Vessel

3 October 2010 (Last Updated October 3rd, 2010 18:30)

Golden Ocean Group has signed an agreement with Knightsbridge Tankers to sell its Capesize vessel for $65.5m. The Bermuda-based dry bulk shipping company will sell the Golden Zhejiang with an existing four-year charter agreement. Golden Ocean will use the proceeds to pay of

Golden Ocean Group has signed an agreement with Knightsbridge Tankers to sell its Capesize vessel for $65.5m.

The Bermuda-based dry bulk shipping company will sell the Golden Zhejiang with an existing four-year charter agreement.

Golden Ocean will use the proceeds to pay off its debt and use $18.5m to purchase shares in Knightsbridge.

The company expects the deal to be concluded during Q4 2010.