Golden Ocean Group Limited

[Carlos]

Ich versteh' hier ehrlich was nicht. Nicht nur diese Transaktion in London (muss was internes gewesen sein), sondern der Verlauf des Kurses der Aktie: gestern im Nasdaq mit fast + 20% geschlossen, heute in D. zwischen 5 und 6% Plus, und das zu Zeiten wo der BDI komplett im Keller ist! (Baltic Dry Index).

 

Meine Vermutung: da kauft sich jemand (oder mehrere) ein solange es billig ist, und die Tatsache dass gestern bekannt wurde dass die Deutsche Bank über 5% bei Frontline innehat, stärkt das Vertrauen in andere Unternehmen des norwegischen Reeders. Denn der scheint ja einer der (finanziell) besser ausgestatteten Reeder zu sein, diese Zeiten "der mageren Kühe" durchzustehen.

 

Oder hat Jemand eine andere Vermutung?

[Dagobert]

Nach langer Zeit wieder mal was erfreuliches von GOGL:

 

Golden Ocean Group Limited ("Golden Ocean" or the "Company") is pleased to advise that the Company has utilized the recent strength in the dry bulk market and fixed out on time charter the Panamax vessel M/V Golden Sakura (76,000 dwt, built 2007). The vessel will be delivered to the Charterer within the next month for a two years time charter contract.

 

The agreed daily time charter hire is $18,500 less 5% total commission. The vessel is on long term time charter to Golden Ocean at $10,700 per day. The agreed charter agreement further reduces the company's cash break even costs for its open tonnage and secures $5 million in additional net income.

 

Quelle

 

 

GOGL hat ja Mitte Februar mal einen kräftigen Kurssprung nach oben getan, leider ist aber nicht viel davon übrig geblieben, YTD liegt die Kursentwicklung im "mittleren" Bereich der JF Werte: Chart

[Carlos]

Interessanter Chart!

[Dagobert]

Heute gab's Q2 Zahlen von Golden Ocean, es bleibt ein sehr schwieriges Umfeld für die bulker, China ist aktuell der einzige "Anschieber".

 

Hier ein paar Auszüge aus dem aktuellen Interim Report

 

Golden Ocean Group Limited (the "Company" or "Golden Ocean") reports net income of $101.0 million and earnings per share of $0.22 for the second quarter of 2009. This compares with net income and earnings per share of $201.0 million and $0.73 respectively for the second quarter of 2008. Total operating revenues for the second quarter were $85.2 million, total operating expenses were $57.6 million and net other income were $73.4 million. Net other income includes the gain from the buy back of the Convertible Bond of $96.1 million as well as a loss from the sale of the Company's shares in Navios Maritime Holdings Inc (Navios) of $12.1 million. In addition an impairment loss of $4.1 million on the Company's remaining shares in Navios has been recorded in the quarter.

 

Cash and cash equivalents increased by $108.0 million during the quarter. The Company generated cash from operating activities of $27.6 million and used $41.6 million in investing activities. Investing activities include part payments on new buildings of $59.8 million. The Company generated $122 million in financing activities during the quarter. Financing activities includes $108 million in new equity from the issuance of 180 million new shares in the Company. In addition it includes repayment of debt of $71.5 million including the Convertible bond as well as $89.2 million in new debt. Golden Ocean reports net income of $117.3 million for the six months ended June 30, 2009, equivalent to earnings per share

of $0.51.

 

Outlook and Strategy

 

As described above, China has more or less been the sole contributor to the positive development experienced in the demand for dry bulk transportation. There are questions raised related to the quality of the official economic data received from China, but there are too many positive "visible" signs which make us believe that China's stimulus packages already have had a direct impact on our markets.

 

It is encouraging to observe the sharp rebound in property sales. Sales of residential properties increased by more than 25 percent in June, following a 19 percent increase in May. Chinese property is accounting for about 45 percent of steel consumption in the country.

 

Prices of Steel, alumina and iron ore started to rebound in May and the positive development has continued into the third quarter. In a historic perspective the Baltic Dry Bulk Index correlates well with global steel prices. Overall there are more analyst's expecting a wide spread economic recovery within the next 12 months. A recovery should lead to higher demand for energy and steel products from other Asian countries, U.S. and Europe.

 

However, the official order book is still considered among most analysts to be too high and is the obvious reason why the forward curve is indicating lower freight rates (backwardation). Currently the FFA market for the next two years stands at $15,000 per day for the Panamax segment and $30,000 for the Capesize segment.

 

Given that the Company's counterparts are performing in accordance with contractual terms, average cash break even rates through 2012 for the open positions are about $4,000 per day for the Company's Panamax vessels and about $16,000 per day for the Capesize vessels.

 

Due to the fact that most of Golden Ocean's spot exposure going forward is within the Panamax segment, the cash break even rate for this segment is satisfactory and should contribute to a positive cash flow even in a more difficult market environment.

 

 

Financial Restructuring

In August 2009 the Group reached agreements with Britania Bulk Finance Limited regarding cancellation of the six Panamax vessels under construction at Pipavav Shipyard in India. The company has since March 2009 been subject to administration and there has been high uncertainty whether the ability to take delivery of the vessels. The Company has previously paid Golden Ocean Ltd a deposit of $71.3 million regarding these vessels. Both parties accepted that Golden Ocean Ltd paid back $17.5 million of the original deposit as a final agreement for cancelation. As a consequence of this agreement Golden Ocean Ltd will realize a profit in q3 of $53.8 million.

It seems unlikely that Pipavav Shipyard will be able to deliver at least the first two vessels within the cancellation dates and the Group has entered into discussions with the shipyard regarding an alternation of the existing contracts.

[Dagobert]

Damit GOGL nicht völlig in Vergessenheit gerät: Gestern mit +8,7% der Star an der Börse in Oslo. GOGL notiert mit 8,12 NOK aktuell auf Jahreshoch und sollte sich der BDI weiterhin positiv entwickeln wird GOGL davon entsprechend profitieren.

 

In US Foren wird als Grund für den gestrigen Anstiegs die bevorstehende Ankündigung einer Dividendenzahlung genannt, das halte ich aktuell aber nur für eine Spekulation.

[mills]

Damit GOGL nicht völlig in Vergessenheit gerät: Gestern mit +8,7% der Star an der Börse in Oslo. GOGL notiert mit 8,12 NOK aktuell auf Jahreshoch und sollte sich der BDI weiterhin positiv entwickeln wird GOGL davon entsprechend profitieren.

 

In US Foren wird als Grund für den gestrigen Anstiegs die bevorstehende Ankündigung einer Dividendenzahlung genannt, das halte ich aktuell aber nur für eine Spekulation.

 

 

Wäre schon Hammer wenn die nach einem Jahr wieder Dividende zahlen würden!

[Horza]

weiß wer, was die letzten tage bei GOGL los ist? Bricht ja noch mehr als der rest der börsenwelt....

[BondWurzel]

Golden Ocean Group: GOGL - Results for the Quarter ended March 31, 2010

 

Golden Ocean Group Limited (the "Company" or "Golden Ocean") reports profit of $23.8 million and earnings per share of $0.05 for the first quarter of 2010. This compares with profit and earnings per share of $16.6 million and $0.06 respectively for the first quarter of 2009. Total operating revenues for the first quarter were $102.4 million, total operating expenses were $75.3 million and net other loss was $0.5 million.

 

Cash and cash equivalents increased by $0.4 million during the quarter. The Company generated cash from operating activities of $38.8 million and used $82.8 million in investing activities. Investing activities include part payments on new buildings of $83.2 million. The Company generated $44.7 million from financing activities during the quarter. This includes proceeds from the long term debt of $51.4 million and the repayment of debt of $4.8 million.

 

 

 

At March 31, 2010 the total number of shares outstanding in Golden Ocean was 456,990,107 of $0.10 par value each.

 

 

On May 28, 2010 the Board has declared a dividend of $0.025 per share. The record date for the dividend is June 15, 2010, ex dividend date is June 11, 2010 and the dividend will be paid on or about June 21, 2010.

[Dagobert]

weiß wer, was die letzten tage bei GOGL los ist? Bricht ja noch mehr als der rest der börsenwelt....

 

Du musst Dir den BDI (Baltic Dry index) anschauen, das erklärt einiges.

 

Ich füge mal einen Artikel aus tradewinds.no bei (da die Artikel dort immer nur kurzfristig zugänglich sind habe ich ihn ausnahmsweise mal ganz reinkopiert):

 

Capesize collapse

 

The Baltic Exchanges dry cargo indices provided a graphic illustration today of recent freight market trends with capesizes down 331 to bring the loss for the last week to more than 900 points.

 

Panamax rates also appear to be in near free fall with the Baltic Exchanges index for for this sector losing 800 points since 20 May while the supramax index is down 500 over the same period.

 

Capesizes

 

• 
   
  
• Classic Maritime fixed K Lines 178,000-dwt Cape Garland (built 2009) at $52,500 a day as an EDF Trading relet for a transatlantic return crossing from Europe.
  
• The rest of the capsize sector was dominated by Rio Tinto who booked four vessels for the Australia China trade.
  
• Carras Hellas 182,000-dwt Aquadiva (built 2010) is to get $46,000 a day for a China Australia return trip.
  
• A yet to be nominated Baotrans vessel is to get $13 a tonne for carry a 160,000 tonne cargo to China. A Zhejiang Ocean Shipping vessel is to get $12.50 a tonne for carrying a similar cargo on the same route while Bocimars 178,000-dwt Mineral Ningbo (built 2009) is to get $12 for a similar task.
  

 

Panamax

 

• 
   
  
• Cargill fixed Dynacoms 76,000-dwt Agios Sostis (built 2009) for three to five months trading at $29,500 a day.
  
• Empros Line is however paying $44,000 a day for Dynacoms 81,000-dwt Marielena (built 2008) a Mediterranean South America China voyage.
  
• Excel Maritimes 83,000-dwt Iron Manolis (built 2007) was fixed for an India to Europe voyage by undisclosed charterers for $40,000 a day.
  
• Transbulk is paying $39,500 a day for Mitsui OSKs 72,000-dwt Rubin Power (built 1996) making a UK US East Coast to Europe voyage.
  
• Archer Daniels Midland fixed IMCs 73,000-dwt Xin Run (built 1998) for a Gulf of Mexico to Far East voyage for $39,000 a day plus a ballast bonus of $700,000.
  
• Golden Oceans 73,000-dwt Golden Shadow (built 1997)is off on a Malaysia Indonesia Far East voyage for unidentified interest for $32,000 a day.
  
• Taiwan Navigations 73,000-dwt Tai Prize (built 2001) is to make a Taiwan Australia Far East voyage for undisclosed charterers for $27,000 a day.
  
• STX Pan Ocean fixed Euroseas 70,000-dwt Irini (built 1988) for a South Korea via North Pacific to Far East voyage at $22,500 a day.
  
• The same charterer also booked the 69,000-dwt Luyang Star (built 1989) for a China South America Far East voyage for $21,500 a day,
  

 

Supramaxes

 

• 
   
  
• British Marine fixed Neda Maritimes 59,000-dwt Kastro (built 2008) for three to five months trading at $22,000 a day.
  
• Dreyfus is paying $46,000 a day for Dae Ah Shippings 55,000-dwt African Kingfisher (built 2009) to make a South America to Europe voyage.
  
• Yasa Shippings 56,000-dwt Yasa Ozcan (built 2006) was booked at $26,000 a day by undisclosed interests for an Indonesia to India voyage.
  
• Nagashiki Kisens 56,000-dwt Nord Leader (built 2007) is off on an India to Far East voyage for unreported charterers for $26,000 a day.
  

 

By Jim Mulrenan in London

Published: 14:29 GMT, 08 Jun 10 | updated: 14:30 GMT, 08 Jun 10

[Horza]

weiß wer, was die letzten tage bei GOGL los ist? Bricht ja noch mehr als der rest der börsenwelt....

Du musst Dir den BDI (Baltic Dry index) anschauen, das erklärt einiges.

 

OK, danke dafür.

 

Man ist ja bei GOGL einiges gewöhnt und die vola z.Zt. ist auch generell extrem, allerdings kam es mir die tage doch auffällig vor. Habe aber gerade mit Diana verglichen - die ja im moment auch nicht auf rosen gebettet ist, und die lagen doch nicht soweit auseinander, wie ich erwartet hätte. Also reicht der verweis auf den BDI.

 

Nun ist sie wieder dort, wo ich sie in grauer vorzeit viel zu früh verkauft habe - mein risikoappetit ist aber erstmal andersweitig gedeckt...

[alex2013]

qhat noch jemand

Golden Ocean

 

im Depot?

[bohi]

aus Q1 / 2015 vom 28.5.

 

Highlights

The merger between Knightsbridge Shipping Limited and the Former

Golden Ocean Group Limited was completed on March 31, 2015, with

Knightsbridge as the acquiring company. Following the merger the

Company was renamed to Golden Ocean Group Limited

 

In April, Golden Ocean completed several transactions in order to

strengthen its cash position and balance sheet

 

The current fleet of Golden Ocean as per May 28:

-47 sailing vessels

-24 newbuildings (21 Capesizes and 3 Supramax vessels)

-2 vessels on BB in, 1 vessel on long term TC in and 1 vessel in a JV

 

 

 

-The Company reports a net loss of $15.3 million and a loss per share of $0.18, excluding vessel impairment loss and bargain purchase gain, for the first quarter of 2015

 

-The Company reports a net loss of $75.3 million and a loss per share of $0.88 for the first quarter of 2015.

 

-The Company reports EBITDA of $(3.6) million and EBITDA per share of $(0.04) for the first quarter of 2015.

[checker-finance]

-The Company reports a net loss of $15.3 million and a loss per share of $0.18, excluding vessel impairment loss and bargain purchase gain, for the first quarter of 2015

 

-The Company reports a net loss of $75.3 million and a loss per share of $0.88 for the first quarter of 2015.

 

-The Company reports EBITDA of $(3.6) million and EBITDA per share of $(0.04) for the first quarter of 2015.

 

Besonders katastrophal finde ich die letzte Zeile. Dass Abschreibungen und Zinsen in einem Geschäftsmodell mit hoher Kapitalbindung bei Umsatzrückgängen auch mal zu negativen Ergebnissen führen können, ist klar. Dass aber auch das EBITDA negativ ist, kann ich nur noch gruselig finden.

 

Heißt ja nicht anderes als dass Golden Ocean sogar im Betrieb ein Minus erwirtschaftet. Da müßten sich die Frachter Dayrates schon deutlich erholen, damit es da weiter geht. Wüßte allerdings nicht, warum sich die Frachter Dayrates erholen sollten bzw. sehe keine Anzeichen dafür. Das einzig Positive für die Frachter-Reeder ist der niedrige Ölpreis, weil das die Betriebskosten drückt.

[Carlos]

Golden Ocean hat in den letzten 52 Wochen den Aktienkurs von USD 2,69 auf heute USD 8,78 steigen sehen... Allein heute ist der Wert (wie ich bei Yahoo Finance sehe) um 3% gestiegen... Market cap ist, wie man sehen kann, 1,74 Milliarden. Erstaunlich, muss man schon sagen. 

 

Interessant ist ein Kommentar von einem Insider, bei Yahoo Finance: "Baltic index hits highest in over 10 years powered by capesizes in Dry Bulk Market,International Shipping News 27/04/2021", also von gestern. Höchstwert der letzten 10 Jahre??? Und das, wo die ganze Welt wegen der bekannten Pandemie Kopf steht? Wäre interessant Meinungen hier zum Thema zu sehen... (Merke: Bin nicht investiert und habe auch nicht die Absicht es zu sein...). 

PS: Baltic Dry Index Grafik eingefügt.