SOURCE: Golden Ocean Group

September 22, 2010 01:51 ET

GOGL - Cancellation of newbuilding contract at Daehan

HAMILTON, BERMUDA--(Marketwire - September 22, 2010) -

Golden Ocean Group Limited ("Golden Ocean" or the "Company") has decided to exercise its right under the shipbuilding contract for the vessel to be named M/V "Golden Changi" to cancel that contract. Golden Ocean (through its nominated buying company, Golden Changi Inc) is entitled to be reimbursed by the builder, Daehan Shipbuilding Co Ltd of Korea, for the installments of the price paid to date, with interest.

September 22, 2010
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

This information is subject of the disclosure requirements acc. to §5- 12 vphl (Norwegian Securities Trading Act)


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Source: Golden Ocean Group via Thomson Reuters ONE

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