GOG orders Panamaxes

Bermuda-based Golden Ocean Group Limited (GOG) has acquired four plus two optional newbuilding contracts at Pipavav Shipyard in India at a cost of $35.5 million each. The 75,000 dwt bulk carriers will be strengthened for ice trading, will be delivered during 2009

GOG has also agreed to sell two ice strengthened Panamaxes previously ordered in China to be delivered during 2008. The vessels will be sold at $45 million per unit.