Golden Ocean has scrapped its first quarter dividend as its loss grew in dire bulker markets.
The John Fredriksen-controlled company said it wanted to preserve cash during the coronavirus pandemic and will revisit the payout when more clarity is possible and the sector recovers.
The Nasdaq and Oslo-listed shipowner said the net loss to 31 March was $161m, but this included non-cash items totalling $126m, as depreciation rose and it took an impairment hit of $94.2m
