Company announcements: Golden Ocean

Golden Ocean - MISCELLANEOUS :: GOGL – SETTLEMENT OF DISPUTE

Announcement Type: MISCELLANEOUS
Company: GOLDEN OCEAN GROUP LIMITED
Stock Code/Name: KU3 - Golden Ocean

MISCELLANEOUS

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Name of Announcer *	GOLDEN OCEAN GROUP LIMITED
Company Registration No.	N.A.
Announcement submitted on behalf of	GOLDEN OCEAN GROUP LIMITED
Announcement is submitted with respect to *	GOLDEN OCEAN GROUP LIMITED
Announcement is submitted by *	Birgitte Vartdal
Designation *	CFO Golden Ocean Management AS
Date & Time of Broadcast	31-May-2013 02:26:05
Announcement No.	00006

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Announcement Title *

GOGL – Settlement of dispute

Description

Golden Ocean Group Limited ("Golden Ocean" or the "Company") is pleased to announce that it has entered into an agreement to settle the dispute regarding its claim in respect of contractual non-performance in 2010 in relation to delivery of one of the Company’s vessels on a then 10-year charter agreement. The Company has received a $30 million cash payment in settlement of its claim. Deducted for related costs the Company expects to book a net income related to this settlement of about $29 million in the second quarter of 2013. May 30, 2013 The Board of Directors Golden Ocean Group Limited Hamilton, Bermuda Contact Persons: Herman Billung: CEO, Golden Ocean Management AS +47 22 01 73 41 Birgitte Ringstad Vartdal: CFO, Golden Ocean Management AS +47 22 01 73 53

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