GOGL – Fourth Quarter 2023 Results - Seite 2

“The Company’s large, modern fleet has been predominantly exposed to the spot market, resulting in strong performance in the fourth quarter of 2023 and thus far in 2024. The market for large size dry bulk vessels continues to outperform the broader freight market due to increasing tonne-mile demand for various key commodities, including iron ore, coal, and bauxite. We have entered 2024 with strong demand in Asia and a broad-based global economic recovery underway, creating an overall healthy demand picture. Fleet growth, particularly in the Capesize segment, remains at historically low levels, and the global fleet is trading at historically high efficiency levels. The Company maintains a positive outlook, and with no unfunded capex or near-term debt maturities, we are well positioned to continue to return value to our shareholders through dividends. Golden Ocean has now paid a dividend for 11 consecutive quarters, demonstrating the Company’s potential as well as the resilience of its performance in weaker market conditions.”

The Board of Directors
Golden Ocean Group Limited
Hamilton, Bermuda
February 28, 2024

Questions should be directed to:

Lars-Christian Svensen: Chief Executive Officer, Golden Ocean Management AS
[phone]

Peder Simonsen: Chief Financial Officer, Golden Ocean Management AS
[phone]

The full report is available in the link below.

Forward-Looking Statements

Matters discussed in this earnings report may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995, or the PSLRA, provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.

The Company is taking advantage of the safe harbor provisions of the PSLRA and is including this cautionary statement in connection therewith. This document and any other written or oral statements made by the Company or on its behalf may include forward-looking statements, which reflect the Company's current views with respect to future events and financial performance. This earnings report includes assumptions, expectations, projections, intentions and beliefs about future events. These statements are intended as "forward-looking statements." The Company cautions that assumptions, expectations, projections, intentions and beliefs about future events may and often do vary from actual results and the differences can be material. When used in this document, the words “believe,” “expect,” “anticipate,” “estimate,” “intend,” “plan,” “targets,” “projects,” “likely,” “will,” “would,” “could” and similar expressions or phrases may identify forward-looking statements.