GOGL – Acquisition and sale of ice strengthened Panamax Bulkers

Golden Ocean Group Limited (“Golden Ocean” or the “Company”) is pleased to advise that the Company has acquired four plus two optional newbuilding contracts at Pipavav Shipyard in India.

The vessels of 75,000 dwt, which will be strengthened for ice trading, will be delivered during 2009 and the agreed purchase price is about $35.5 million per unit.

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