12APR2019 - NEWS - Norway based Golden Ocean Group Limited acquires 15% stake in Singapore Marine

Norway based dry bulk shipping firm Golden Ocean Group Limited (GOGL) has recently acquired a 15% ownership interest in Singapore Marine, a dry bulk freight operator. Singapore Marine will initially focus on the Post Panamax to Capesize vessel segments. The company, which has offices in Singapore, Geneva and Verbier, will seek to generate returns in all market conditions by employing an asset-light business model. Singapore Marine has raised USD 105 million in available capital where Golden Ocean has provided USD 10 million in equity and USD 10 million in available subordinated shareholder loan.

Published by Editor - www.Livebunkers.com at 12-Apr-2019 05:30:34 [UTC] , contact editor at editor@livebunkers.com