John Fredriksen-backed Golden Ocean Group has bought back another $2m of its $200m convertible bond issue.
The Norwegian bulker owner said it had made market purchases on Tuesday at 99.5% of par value.
The series carries 3.07% interest over five years and is due in 2019.
Golden Ocean now holds $31.8m of the bond, equalling 15.9%.
This would be convertible into 380,747 shares at the current conversion price.
