Golden Ocean Group Limited has agreed to get released from the bare boat agreements for the two 1994 built Panamax vessels ‘M/V Golden Jade’ and ‘M/V Golden Jasmine’ against purchasing the vessels for $14.5 million per vessel.
Simultaneously the Company has agreed to sell the two vessels for net sale proceeds of $124.1 million in total. Delivery to the buyers is expected to take place in May 2008.