John Fredriksen’s Golden Ocean predicted more difficulty ahead for the dry bulk market as it rang the changes to bed in for a longer downturn.
Newbuildings have been converted, sold and delayed, discussions are underway with banks to improve its balance sheet further and a landmark charter deal with RWE has been redrawn.
“Golden Ocean expects the market to be challenging also for the next six to 12 months,” its third quarter report said.
“Rates
