Golden Ocean snaps up eight SFL capesizes

John Fredriksen-backed dry bulk player Golden Ocean Group is taking eight capsizes out of leases from Fredriksen’s shipowning company SFL Corp.

The Nasdaq- and Oslo-listed company has declared purchase options worth $112m in total in connection to the vessels’ 10-year charter-in anniversary.

Delivery is expected during the third quarter of 2025, and Golden Ocean, with a fleet of more than 90 bulkers, said it would finance the deal through a new $90m revolving credit facility and cash on hand.

The 170,000-180,000 dwt Battersea, Belgravia, Golden Beijing, Golden Future, Golden Magnum, Golden Zhejiang, Golden Zhoushan, and KSL China were built between 2009 and 2013.

SFL, which will remain with seven bulkers employed in the spot and short-term charter market, said it expects net cash proceeds after debt repayment of about $50m.