Golden Ocean to Look Towards Time Charters
Posted by Michelle Howard
Thursday, August 17, 2017
Dry bulk shipper Golden Ocean's Chief Executive Birgitte Vartdal made the following remarks during the company's second-quarter earnings presentation on Thursday:
- We are slowly starting to consider chartering opportunities at the rate levels that we see now. It will be a step-wise process and we'll have to build exposure slowly when the rates are increasing
- Except for four long-term charters, we are more or less spot exposed for next year and we'll slowly start to add some charter cover. But we're still talking low percentages
- We have seen some increased interest on the time charter side over the last few weeks, and the period market is slowly coming back following better spot rate
- Activity is better now than what we've seen for a while
- Golden Ocean earlier posted adjusted earnings above forecast, while its net loss was in line with analysts' expectations
- By 1350 GMT the shares traded 4.3 percent lower for the day
Reporting by Joachim Dagenborg