Golden Ocean Group Limited: Panamax Bareboat Agreements

Golden Ocean Group Limited (“GOGL”) is pleased to advise that an agreement has been reached with Clipper Bulk Shipping Ltd. to take over the bareboat agreements for a fleet of 5 Panamax Bulkers.

The vessels are:
Clipper Jade, built 1994;
Clipper Jasmine, built 1994;
Clipper Joy, built 1994;
Clipper Glory, built 1990;
Clipper Gem, built 1990;

GOGL will pay USD 38,0 million in cash to take over the bareboat agreements, and will pay a daily bareboat rate for the five vessels of USD 28,000.