Golden Ocean could lose an average of close to $200,000 a day next year based on the shipowner’s cash break-even rate and rate forecasts for 2016.
Arctic Securities analyst Erik Nikolai Stavseth says the John Fredriksen bulker operation will lose about $3,200 per day, per ship, in 2016 based on his estimates.
“Our updated freight rate estimates have a detrimental effect on Golden Ocean’s cash balance as we now expect the market to remain below its average cash break-even rate – estimated to be $13,000 per day through 2016,” he says.
“We
