Dry bulk shipowner Golden Ocean Group on Thursday announced it has ordered three 85,000 dwt ECO-type Kamsarmax bulk carriers from a Chinese shipyard.

Scheduled for delivery from the third quarter of 2023 to the first quarter of 2024, the newbuilds will offer improved fuel consumption and emissions performance, Golden Ocean. They will also be dual-fuel ready, giving the company time to evaluate alternatives while the visibility of future regulations and optimal technology improves.

Golden Ocean said it intends to finance the acquisition with operating cash flow and cash on hand and will establish long-term debt financing closer to delivery.

Ulrik Andersen, CEO of Golden Ocean Management AS commented, “With this transaction, we continue executing on our strategy of renewing the fleet and improving its operating performance. At the same time, it underlines our belief in the long-term dry bulk fundamentals.

“We have secured an attractive price with a tail-heavy payment structure, which means Golden Ocean can absorb the transaction without impacting the Company’s dividend capacity, which continues to be a key priority. The vessels benefit from additional cargo intake, and the superior fuel economy will ensure low operating costs and a reduced carbon footprint.”

This post appeared first on MarineLink News.

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