GOGL secures Kamsarmax options

Golden Ocean Group Limited (GOGL) has placed a newbuilding contract with the Chinese shipbuilder Zhoushan Jinhaiwan Shipyard (Jinhaiwan) for two 80,000 dwt Kamsarmax bulk carriers for delivery during 2011. The contract includes an option for two similar vessels. This latest order is in addition to the eight sister-ships ordered in October 2007 from the same shipbuilder.

The delivered cost for the vessels is estimated to be about $52 million per vessel.