SOURCE: Golden Ocean Group

September 12, 2008 03:00 ET

GOGL - Delivery of newbuilding

HAMILTON, BERMUDA--(Marketwire - September 12, 2008) -

Golden Ocean Group Limited ("Golden Ocean" or "the Company") is pleased to announce that the Company have taken delivery of the second capesize newbuilding contracted in December 2006 from Daehan Shipbuilding Co., South Korea.

As announced on January 8, 2008 the vessel is sold to a third party and the vessel is now successfully delivered to the buyer. The transaction will give a positive result of approximately $46 million, and this will be recorded in Q3 2008. September 12, 2008 Hamilton, Bermuda

Contact Persons:
Herman Billung: CEO, Golden Ocean Management AS
+47 22 01 73 41

Geir Karlsen: CFO, Golden Ocean Management AS
+47 22 01 73 45

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