Golden Ocean bags newbuildings

Golden Ocean Group Ltd. has acquired two newbuilding contracts each at Daehan Shipbuilding in South Korea and Zhoushan Jinhaiwan Shipyard in China. According to the company, the vessels of 170,000 dwt and 176,000 dwt respectively will be delivered between December 2008 and October 2009. The total purchase price for the four units is $296 million.

The contracts include options for additional two vessels from each yard, and these vessels can be delivered within first half of 2010.