John Fredriksen led Golden Ocean Group Ltc (GOGL) has agreed to assign a newbuilding contract for one capesize bulker to an independent third party, it announced on May 30.
The newbuilding 'Golden Emerald' is to be completed at Pipavav Shipyard. GOGL will receive refund for the installments paid to date. It has taken impairment on the vessel of $2.2m in Q1, reflecting the loss that will arise from the assignment.
The net cash effect is positive with $5m.
Therefore, as of now, GOGL's newbuilding orderbook consists of one capesize, four kamsarmaxes and five ice-class panamaxes with optional two more, which are ordered at Jinhai Heavy Industry of China, Pipavav of India, etc.
However, with deliveries getting late, it is still undecided yet to take all of newbuilding deliveries.