Golden Ocean Group Limited (NASDAQ:GOGL) Q3 2023 Earnings Call Transcript

Omar Nokta: Okay, got it. That makes sense. And then maybe just as a follow-up, you highlighted the – you know, looking to further invest in the fleet, to capitalize or at least create excess earnings potential, you’ve got the – your order book program basically is close to wrapping up here with those four Kamsarmax due in 2024. Recently we’ve seen several of your competitors order ships on a dual fuel basis that deliver out into ’26-’27, I think even we saw ’28. How are you guys thinking about the new building order book, as it is now in terms of obviously, you mentioned fleet sizes at 8% is relatively small? But in terms of Golden Ocean and looking forward, how do you think about where you stand with newbuildings? Are you comfortable with these four taken delivery of them and then moving on or can we expect you to dive deeper into newbuildings?

Lars-Christian Svensen: I think for our focus at the moment, we’re very happy with the newbuilding program that we had on and looking to complete next year. We’re definitely there to grow in terms of vessels on the water. We did find modern tonnage, two, three, four years old that fit well into our strategy and fleet where we think that is a better investment at the moment than to go to the yards and place a newbuilding order. In respect to which fuel to impact, we haven’t made up our mind there yet and maybe not as clear as the other competitors. So we prefer to invest in our fleet, which we already have, that already makes money and grow the fleet upwards.

Omar Nokta: Yes. Very good. Well, thank you. That’s it from me.

Lars-Christian Svensen: Thank you, Omar.

Peder Simonsen: Thanks, Omar.

Operator: [Operator Instructions] We have no further questions at this time. I will hand back to you for closing remarks.

Lars-Christian Svensen: Thanks a lot for dialing in. We’ll see you next quarter.

Peder Simonsen: Thank you very much.

Operator: Ladies and gentlemen, this concludes today’s conference call. Thank you for participating. You may now disconnect your lines. Thank you.