GOGL – Sale of vessel

Golden Ocean Group Limited has agreed to sell the vessel ‘M/V Shinyo Brilliance’.

The vessel is a Panamax bulker and is one of the long term time charter vessels previously acquired from Louis Dreyfus with an option to purchase attached to the time charter. The vessel will be delivered to the Buyers within the end of December 2007 and the agreed purchase price is $72 million net.