I have stayed in sidelines too - no use to fret about these markets daily. Big swings are typical to the shipping industry, and now the hedge fund and mutual fund redemptions hit hard the stocks, which were their favourites just some time ago.
I do not know to which bourse they are aiming to list GDOCF. I am adding some more now, and I am not worried about them. GDOCF has 80% of their fleet on long term fixed rates now, and 70% of the fleet for 2009.
Dagens Næringsliv (in Oslo) wrote on Oct.23 that the newbuild program of Golden Ocean is proceeding well. Only the Indian Pipavav-shipyard is late in schedule, and will deliver the six 75.000-ton vessels in 3-6 months delay. This is no trouble to GDOCF, because the vessels are already sold (GDOCF paid $213m for ships and sold them for $325m). The first 20%, $70.6mill, has already been paid to GDOCF, and the rest will come along with the ship deliveries from the yard.
Of other ships being built in China and South-Korea (23 vessels) 10 vessels are already hired for long term contracts, and part of the rest will be leased and part will be sold.
GDOCF is well prepared for bad times
News 
Market Data 
Discover 
