Stock Track | Golden Ocean Soars 5% After Reporting Solid Q4 Results on Resilient Bulk Shipping Market

Stock Track
2025/02/27

Golden Ocean Group Limited (GOGL) shares surged 5.05% on Wednesday, following the company's fourth quarter 2024 earnings release that showed resilient performance amid ongoing volatility in the dry bulk shipping market.

For Q4 2024, Golden Ocean reported net income of $39 million, or $0.20 per share, compared to $56.3 million in Q3 2024. Full year 2024 net income was $223.2 million, up from $112.3 million in 2023. Adjusted EBITDA for Q4 was $69.9 million, down from $124.4 million in Q3. The company declared a quarterly dividend of $0.15 per share.

Looking ahead, Golden Ocean exercised options to purchase 8 vessels from SFL for $112 million, as it continues to modernize its fleet. The company expects TCE rates of around $15,100 per day for 77% of available Capesize days and $9,900 for 81% of Panamax days in Q1 2025. Interim CEO Peder Simonsen stated the company remains well-positioned with its modern, fuel-efficient fleet to generate strong cash flows across market cycles given supportive demand and supply dynamics.

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