Golden Ocean Group Limited
(NASDAQ:GOGL)

Golden Ocean Group Limited, a shipping company, owns and operates a fleet of dry bulk vessels comprising Newcastlemax, Capesize, Panamax, and Ultramax vessels worldwide. It owns and operates dry bulk vessels in the spot and time charter markets. The company transports bulk commodities, such as ores,...

Website: http://www.goldenocean.bm

Founded: 1996

Full Time Employees: 37

Sector: Industrials

Industry: Marine Shipping

Industrials

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At a glance:

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Quarterly

Annual

Unit: USD	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-05-31	2022-02-28	2021-12-31	2021-11-30	2021-06-30	2021-05-31	2021-02-28	2020-12-31	2020-11-30	2020-08-31	2020-06-30	2020-05-31	2020-02-29	2019-12-31	2019-11-30	2019-08-31	2019-06-30	2019-05-31	2018-12-31	2018-11-30	2018-08-31	2018-06-30	2018-02-28	2017-12-31	2017-08-31	2017-06-30	2017-05-25	2017-03-31	2016-12-31	2016-11-30	2016-08-31	2016-06-30	2016-05-31	2016-05-12	2016-02-29	2015-12-31	2015-11-30	2015-08-31	2015-05-31	2015-03-31	2014-12-31	2014-06-30	2014-05-31	2014-02-28	2013-12-31	2013-10-17	2013-08-31	2013-05-31	2013-02-28	2012-12-31	2012-11-30	2012-08-31	2012-05-31	2012-03-13	2012-02-29	2011-12-31	2011-11-30	2011-09-30	2011-08-31	2011-06-30	2011-02-28	2010-12-31	2010-08-31	2010-06-30	2010-05-31	2010-03-31	2010-02-28	2009-12-31	2009-11-30	2009-08-31	2009-05-31	2009-02-28	2008-12-31	2008-11-30	2008-08-31	2008-06-30	2008-04-18	2008-02-29	2007-11-30	2007-08-31	2003-12-31

operating revenues																																													45,010,000										20,105,000					6,469,000					23,224,000																		15,736,000					25,008,000
time charter revenues	99,649,000	147,758,000	160,075,000	314,736,000	163,250,000	155,919,000	97,215,000	181,693,000	75,341,000	122,778,000	125,776,000	183,393,000	161,848,000	209,677,000	209,677,000	188,764,000	205,518,000	78,320,000	77,550,000	77,550,000	71,873,000	43,684,000	86,250,000	42,566,000	83,611,000	83,611,000	88,196,000	64,578,000	128,139,000	63,561,000	84,056,000	87,768,000	80,984,000	159,645,000	88,325,000			85,175,000	35,081,000					38,527,000										6,067,000				5,788,000								17,248,000				17,897,000		17,897,000			17,981,000	17,981,000	20,309,000	20,309,000			12,238,000
voyage charter revenues	41,930,000	62,970,000	98,059,000	180,897,000	82,533,000	95,789,000	123,932,000	226,946,000	120,085,000	126,626,000	155,614,000	132,985,000	103,173,000	171,971,000	171,971,000	198,618,000	227,223,000	79,176,000	90,613,000	90,613,000	113,135,000	72,013,000	166,382,000	94,369,000	160,603,000	160,603,000	130,713,000	50,806,000	112,867,000	62,061,000	91,686,000	101,097,000	59,526,000	130,021,000	62,770,000			95,821,000	46,270,000					56,473,000										8,604,000				1,872,000								5,360,000				1,678,000		1,678,000			6,717,000	6,717,000	3,877,000	3,877,000			1,975,000
other revenues	348,000	245,000	2,487,000	1,193,000	952,000	2,497,000	516,000	1,261,000	1,091,000	154,000	659,000	287,000	163,000	160,000	160,000	236,000	1,014,000	557,000	545,000	545,000	574,000	549,000	1,022,000	473,000	457,000	457,000	426,000	396,000	786,000	391,000	241,000	391,000	379,000	1,165,000	320,000			661,000
total operating revenues	141,927,000	210,973,000	260,621,000	496,826,000	246,735,000	254,205,000	221,663,000	409,900,000	196,517,000	249,558,000	282,049,000	316,665,000	265,184,000	381,808,000	381,808,000	387,618,000	433,755,000	158,053,000	168,708,000	168,708,000	185,582,000	116,246,000	253,654,000	137,408,000	244,671,000	244,671,000	219,335,000	115,779,000	241,792,000	126,013,000	175,983,000	189,256,000	140,889,000	290,831,000	151,415,000			181,657,000	83,819,000					100,579,000		190,238,000								20,593,000				7,660,000								25,966,000				22,897,000		22,897,000			26,341,000	26,341,000	24,186,000	24,186,000			14,213,000
gain from disposal of vessels		1,333,750	4,202,000		1,133,000	853,500	831,000		2,583,000	7,843,000	21,856,000	9,516,000		4,928,000	1,215,000	4,860,000
operating expenses
voyage expenses and commissions	27,217,000	36,045,000	54,066,000	102,779,000	50,036,000	57,453,000	65,082,000	123,626,000	64,231,000	69,189,000	86,460,000	66,628,000	56,273,000	68,942,000	68,943,000	81,734,000	102,188,000	39,233,000	42,904,000	37,910,000	43,935,000	47,453,000	107,705,000	60,252,000	60,322,000	31,191,500	57,661,000	32,905,000	67,104,000	34,199,000	29,494,500	54,533,000	32,603,000	63,445,000												78,099,000
ship operating expenses	95,318,000	95,606,000	69,441,000	128,924,000	62,611,000	63,416,000	64,472,000	124,061,000	61,630,000	58,101,000	59,336,000	50,369,000	58,165,000	57,622,000	57,623,000	52,371,000	98,900,000	48,617,000	47,632,000	47,632,000	43,444,000	44,702,000	100,159,000	55,457,000	56,565,000	56,565,000	45,755,000	48,707,000	90,818,000	42,111,000	38,498,000	36,699,000	39,150,000	76,429,000	36,383,000			58,608,000	27,291,000					50,667,000	25,093,000	83,022,000								3,315,000	3,042,000			1,859,000		1,973,000					3,441,000	4,054,000				5,845,000		5,845,000			3,916,000	3,916,000	4,786,000	4,786,000			4,847,000		3,992,000					3,541,000
charter hire expenses	1,473,000	4,198,000	6,363,000	12,154,000	7,308,000	6,894,000	8,339,000	26,992,000	16,782,000	12,544,000	19,179,000	15,380,000	10,303,000	11,247,000	11,247,000	31,240,000	47,072,000	13,920,000	17,130,000	17,130,000	20,443,000	12,252,000	29,239,000	16,987,000	49,707,000	49,707,000	36,457,000	15,828,000	31,616,000	15,788,000				46,698,000	20,382,000			29,454,000	16,141,000					26,920,000		30,719,000					43,268,000
administrative expenses	5,354,000	6,482,000	5,282,000	12,539,000	7,430,000	4,909,000	4,441,000	9,329,000	4,162,000	4,964,000	4,787,000	5,497,000	5,127,000	4,827,000	4,827,000	4,602,000	8,720,000	4,115,000	4,024,000	4,023,000	3,103,000	3,350,000	6,594,000	3,244,000	4,057,000	4,057,000	3,260,000	3,276,000	6,805,000	3,530,000	3,728,000	3,621,000	3,688,000	7,357,000	3,279,000			6,128,000	2,613,000					6,886,000	3,025,000	12,469,000					11,864,000			1,095,000	1,384,000			1,345,000		1,070,000					985,000	973,000				794,000		794,000			917,000	917,000	501,000	501,000			458,000		374,000					363,000
depreciation	31,911,000	35,560,000	35,813,000	70,254,000	35,076,000	36,189,000	35,272,000	64,087,000	31,497,000	32,394,000	32,477,000	32,534,000	32,434,000	33,354,000	33,354,000	33,299,000	57,046,000	26,798,000	27,592,000	27,591,000	27,631,000	27,018,000	56,081,000	29,063,000	23,665,000	23,665,000	23,327,000	23,978,000	46,853,000	22,875,000	23,333,000	23,345,000	23,358,000	45,470,000	20,873,000			35,984,000	16,746,000					30,794,000	14,946,000	52,728,000					47,475,000			3,745,000	2,647,000			2,750,000		2,744,000					5,680,000	5,737,000				5,674,000		5,674,000			4,478,000	4,478,000	4,429,000	4,429,000			3,266,000		3,372,000					3,428,000
total operating expenses	161,273,000	177,891,000	170,965,000	326,650,000	162,461,000	168,861,000	177,606,000	359,875,000	190,082,000	177,192,000	202,239,000	170,408,000	162,302,000	175,992,000	175,994,000	203,246,000	318,113,000	136,870,000	140,003,000	140,001,000	138,556,000	134,775,000	394,011,000	259,236,000	194,316,000	194,316,000	166,461,000	124,693,000	243,196,000	118,503,000	134,610,000	139,220,000	118,934,000	240,479,000	109,866,000			185,185,000	89,235,000					155,994,000	77,591,000	414,363,000					418,282,000			13,798,000	8,672,000			7,473,000		5,920,000					14,601,000	15,492,000				14,323,000		14,323,000			12,059,000	12,059,000	13,115,000	13,115,000			10,745,000		8,872,000					9,819,000
net operating income	-19,346,000	49,174,000	93,858,000	171,309,000	85,407,000	91,118,000	44,888,000	52,608,000	9,018,000	75,179,000	101,666,000	155,773,000	102,469,000	204,386,000	204,383,000	190,024,000	119,201,000	21,832,000	27,998,000	28,000,000	48,336,000	-20,153,000	-137,995,000	-117,842,000	45,807,000	45,806,000	53,438,000	-7,041,000	1,412,000	8,453,000	42,632,000	50,851,000	25,121,000	51,530,000	40,340,000				-5,352,000						-32,480,000									6,795,000	11,433,000			187,000		549,000					8,623,000	10,474,000				8,574,000		8,574,000			14,282,000	14,282,000	11,071,000	11,071,000			3,468,000		6,864,000					15,189,000
other income																																														1,306,000
interest income	982,000	1,735,000	1,466,000	3,671,000	1,956,000	1,292,000	740,000	2,685,000	1,515,000	1,325,000	725,000	240,000	54,000	154,000	154,000	76,000	254,000	175,000	298,000	297,000	110,000	112,000	786,000	674,000	812,000	812,000	847,000	1,093,000	2,775,000	1,683,000	2,409,000	2,011,000	1,754,000	3,156,000	857,000			830,000	347,000					831,000	257,000	849,000					1,134,000			5,000	5,000			9,000		20,000					5,000	13,000				14,000		14,000			5,000	5,000	3,000	3,000			57,000		33,000					773,000
interest expense	-23,018,000	-25,066,000	-26,963,000	-56,186,000	-29,177,000	-28,664,000	-28,803,000	-46,197,000	-22,013,000	-18,963,000	-15,131,000	-12,113,000	-10,041,000	-10,509,000	-10,509,000	-10,846,000	-18,554,000	-8,889,000	-9,650,000	-9,649,000	-9,915,000	-12,814,000	-27,913,000	-15,099,000	-13,077,000	-13,077,000	-14,159,000	-15,307,000		-17,003,000	-13,951,250	-19,298,000	-19,202,000		-16,476,000				-12,381,000						-9,314,000	-28,270,000					-31,394,000			-191,000	-564,000			-708,000		-845,000					-1,331,000					-1,254,000		-1,254,000			-738,000	-738,000	-735,000	-735,000			-319,000		-375,000					-1,091,000
gain on derivatives	-3,020,000	11,833,000	-11,039,000	14,418,000	12,010,000	-8,237,000	12,647,000	6,962,000	-2,083,000	2,700,000	11,391,000	7,127,000	18,750,000	1,211,000	1,211,000	5,598,000	23,655,000	9,024,000	2,677,000	2,677,000	3,270,000	-441,000	-23,397,000	-22,956,000	6,381,000	6,381,000	-6,124,000	-13,296,000		3,079,000	1,944,000	1,290,000	1,301,000	7,931,000	2,419,000				-23,000
equity results of associated companies	703,000	-1,426,750	-731,000		-4,558,000	2,396,250	-282,000		4,941,000	8,255,000	5,900,000	12,666,000	14,454,000	9,875,000	3,651,750	11,076,000	3,533,000	667,000	1,187,000	-1,224,250	-2,334,000	-5,221,000	-2,564,000	2,657,000	268,000	59,250	59,000	3,000	178,000	175,000	124,250	172,000	71,000	325,000
other financial items	-198,000	89,000	-212,000	-255,000	-201,000	-606,000	-426,000	202,000	-170,000	-29,000	49,000	86,000	-328,000	-990,000	1,010,000	-569,000	35,000	790,000	301,000	10,478,000	-366,000	-2,724,000	-10,938,000	-8,214,000	976,000	-852,000	2,676,000	1,500,000		-3,814,000	-118,750	271,000	-53,000		-291,000			455,000	-407,000						-3,725,000	-1,897,000					-3,188,000			-141,000	-114,000			-116,000		-150,000					-163,000					-154,000		-154,000			-112,000	-112,000	-95,000	-95,000			-102,000		-28,000					-45,000
net other expenses	-24,551,000	-20,201,750	-37,479,000																																																			-327,000				-815,000												-1,394,000					-845,000		-827,000				-364,000
net income before income taxes	-43,897,000	39,402,000	56,379,000		65,437,000	57,921,000	28,764,000		-8,792,000	68,488,000	104,600,000	163,779,000	125,358,000	204,127,000	204,124,000	195,359,000		23,599,000	25,381,000	25,383,000	39,101,000	-41,241,000		-160,780,000	41,167,000	41,166,000	36,737,000	-33,048,000		-7,427,000	23,781,000	35,298,000	8,993,000		27,107,000				-17,855,000
income tax expense	245,000	398,000	50,000	100,000	50,000	451,000	30,000	60,000	30,000	279,000	35,000	30,000	35,000	309,000	309,000	30,000	50,000	20,000	11,000	11,000	40,000	40,000	80,000	40,000	124,000	124,000	38,000	38,000	75,000	38,000	194,000	13,000	13,000	25,000	-16,000			47,000	-23,000
net income	-44,142,000	39,004,000	56,329,000	127,881,000	65,387,000	57,470,000	28,734,000	26,068,000	-8,822,000	68,209,000	104,565,000	163,749,000	125,323,000	203,818,000	203,815,000	195,329,000	128,074,000	23,579,000	25,370,000	25,372,000	39,061,000	-41,281,000	-202,101,000	-160,820,000	41,043,000	41,042,000	36,699,000	-33,086,000		-7,465,000	23,587,000	35,285,000	8,980,000	25,663,000	27,124,000				-17,878,000						-68,236,000	-220,839,000								6,282,000	10,718,000			-984,000		-6,938,000					7,134,000	9,079,000				7,180,000		7,180,000			13,437,000	13,437,000	10,244,000	10,244,000			3,104,000		6,494,000					14,826,000
yoy	-167.51%	-32.13%	96.04%	390.57%	-841.18%	-15.74%	-72.52%	-84.08%	-107.04%	-66.53%	-48.70%	-16.17%	-2.15%	764.40%	703.37%	669.86%	227.88%	-157.12%	-112.55%	-115.78%	-4.83%	-200.58%	-650.70%	386.07%		-649.79%	55.59%	-193.77%		-129.09%	-13.04%				-251.72%																			-738.41%												26.45%						-46.57%					230.03%
qoq	-213.17%	-30.76%	-55.95%	95.58%	13.78%	100.01%	10.23%	-395.49%	-112.93%	-34.77%	-36.14%	30.66%	-38.51%	0.00%	4.34%	52.51%	443.17%	-7.06%	-0.01%	-35.05%	-194.62%	-79.57%	25.67%	-491.83%	0.00%	11.83%	-210.92%			-131.65%	-33.15%	292.93%	-65.01%	-5.39%											-69.10%									-41.39%											-21.42%										0.00%	31.17%	0.00%
per share information:
earnings per share: basic	-0.22				0.33	0.29	0.14		-0.04	0.34	0.52	0.82	0.63	1.02	1.03	0.97
earnings per share: diluted	-0.22				0.33	0.29	0.14		-0.04	0.34	0.52	0.81	0.62	1.01	1.03	0.97
impairment loss on vessels								11,780,000	11,780,000								4,187,000	4,187,000	721,000														1,080,000	1,080,000
earnings per share: basic and diluted		0.23	0.28															0.14	0.18	0.18	0.27	-0.29		-1.12	0.29	0.29	0.26	-0.23		-0.05	0.17	0.24	0.06	0.18	0.19				-0.17															0.13				-0.04								0.37				0.3		0.3			0.79	0.79	0.6	0.6			0.18
gain on sale of assets				1,133,000				2,583,000
share of results of associated companies				-4,976,000				9,868,000
net other income				-43,328,000				-26,480,000		-6,691,000	2,934,000	8,006,000	22,889,000				8,923,000						-64,026,000
net income before tax				127,981,000				26,128,000									128,124,000						-202,021,000											25,688,000
basic earnings per share				0.64				0.13									0.7																																						0.35					-0.28
diluted earnings per share				0.64				0.13									0.69
net other (expenses) income					-19,970,000	-10,651,500	-16,124,000		-17,810,000					-259,000	3,564,500	5,335,000		1,767,000	-2,617,000	-18,314,750	-9,235,000	-21,088,000		-42,938,000	-4,640,000	-14,647,500	-16,701,000	-26,007,000		-15,880,000	-10,348,750	-15,553,000	-16,128,000		-13,233,000				-12,503,000
other operating income										-103,250			-413,000	-6,358,000	1,087,750	792,000		649,000	-707,000	918,000	1,310,000	-1,624,000		3,986,000	-4,548,000	844,750	563,000	1,873,000		943,000	449,500	749,000	3,102,000		-704,000			2,993,000	2,468,000					3,192,000										5,922,000
other operating income (expenses)																	3,559,000						2,362,000						2,816,000					1,049,000
impairment loss on right of use assets																							94,233,000	94,233,000
gain from disposal of associated companies																			2,570,000
basic and diluted earnings per share																							-1.41						-0.28																						-0.3
dividends per share																													0.13					0.2
gain on sale of assets and amortization of deferred gains																															66,000	65,000	64,000	129,000	-505,000			128,000	64,000					166,000
charterhire expenses																															16,930,000	21,022,000	19,056,000
voyage expenses and commission																																			28,949,000			55,011,000	26,444,000					37,942,000							75,971,000			5,643,000				1,519,000																	2,748,000	2,748,000	3,399,000	3,399,000			2,174,000
impairment loss on vessels and newbuildings																																														152,597,000
provision for uncollectible receivables																																														4,729,000
impairment loss on marketable securities																																														-23,323,000
equity results of associated companies, including impairment																																			259,000			243,000	-39,000
bareboat charter revenues																																												2,387,000
impairment loss on leased vessels
net (loss) before income taxes
(loss) per share: basic and diluted																																						-0.26
86,222																																								71,007,000
78																																								56,000
23,876																																								28,068,000
27,202																																								27,975,000
14,267																																								12,504,000
3,130																																								2,712,000
-																																										985,000	65,000				-8,492,000		-2,296,000	5,348,000												-3,169,750	-12,679,000																44,300,000										12,279,750	49,119,000
16,431																																								16,207,000
84,906																																								87,466,000
1,395																																								-16,403,000
386																																								449,000
(12,096																																								-11,718,000
16,734																																								412,000
299																																								130,000
(445																																								425,000
4,879																																								-10,302,000
203																																								-29,000
6,476																																								-26,734,000
0.06																																								-250							-400
71,007																																										55,569,000
56																																										65,000
28,068																																										16,224,000
27,975																																										25,574,000
12,504																																										15,911,000
2,712																																										3,861,000
16,207																																										15,848,000
87,466																																										78,403,000
449																																										574,000																																																		381,000
412																																										-4,937,000
130																																										118,000
425																																										-1,184,000
49,333																																											55,569,000
21,557																																											16,224,000
23,924																																											25,574,000
5,348																																											15,911,000
4,811																																											3,861,000
14,778																																											15,848,000
70,418																																											78,403,000
(21,085																																											-22,769,000
382																																											574,000
(11,296																																											-11,038,000
(495																																											-4,937,000
(571																																											116,000
(407																																											-1,182,000
(12,387																																											-16,467,000
(33,472																																											-39,216,000
(0.97																																											-370
benefit from uncollectible receivables																																												1,800,000	1,800,000
impairment loss on vessels owned and leased																																												985,000
loss on derivatives																																													-12,884,000	-6,939,000
bargain purchase gain arising on consolidation																																														78,876,000
loss per share: basic and diluted																																												-1.27
gain on sale of newbuildings and amortization of deferred gain																																													101,000
voyage expenses																																													21,718,000										1,599,000					133,000					4,495,000	4,728,000				2,010,000		2,010,000											1,134,000					2,487,000
charter hire expense																																													11,009,000
vessel impairment loss
impairment loss on securities																																													-10,050,000
total other (expenses) income																																													-35,716,000
tax expense																																													-40,000
basic loss per share																																													-0.22
time charter revenue																																														85,960,000
voyage charter revenue																																														102,972,000
loss on sale of assets and amortization of deferred gains																																														-10,788,000
other losses
net operating loss																																														-234,913,000
equity results from associated companies, including impairment																																														-5,033,000
income before income taxes																																														-220,650,000
income taxes																																														-189,000
weighted-average number of common shares outstanding
basic and diluted																																														151,217,000
net loss per common share
basic and diluted																																														-1,460
36,681																																															56,524,000
15,456																																															22,768,000
5,721																																															25,495,000
2,025																																															3,426,000
7,595																																															13,769,000
30,797																																															87,287,000
5,884																																															-39,255,000
16																																															301,000
(502																																															-6,028,000
(236																																															-774,000
(722																																															-29,824,000
5,162																																															-69,268,000
19,336																																																	65,692,000
11,257																																																	24,268,000
6,598																																																	26,553,000
533																																																	3,080,000
5,574																																																	14,363,000
23,962																																																	88,170,000
3																																																	163,000
20,593																																																		49,333,000
5,643																																																		21,278,000
3,315																																																		23,924,000
1,095																																																		4,811,000
3,745																																																		14,778,000
13,798																																																		70,139,000
6,795																																																		-20,806,000
5																																																		382,000																					14,000
(191																																																		-11,296,000
(141																																																		-1,752,000
(327																																																		-14,739,000
6,468																																																		-35,545,000
(186
6,282																																																		-35,545,000
0.15																																																		-210
(0.01																																																								100
0.14																																																		-210
operating revenue
time charter and voyage charter revenues																																																			246,005,000
other operating revenue																																																			7,453,000
total operating revenue																																																			253,458,000
impairment of trade receivables
vessel operating expenses																																																			56,404,000
impairment of vessels and vessels held under finance leases																																																			183,300,000
other gain (losses) net
share of income from associates and joint ventures																																																			2,017,000
adjustment of financial lease obligation																																																			51,454,000
other gains net																																																			9,397,000
total other gains net																																																			62,868,000
operating profit																																																			-101,956,000
yoy
qoq
total net financial items																																																			-33,448,000
profit before income tax																																																			-135,404,000
income tax																																																			-197,000
profit for the period																																																			-135,601,000
other comprehensive income:
items that will not be subsequently reclassified to profit or loss
remeasurements of post employment obligations																																																			-829,000
items that may be subsequently reclassified to profit or loss
changes in fair value of available-for-sale financial assets																																																			-3,588,000
recycling of changes in fair value of sold available-for-sale financial assets																																																			-4,164,000
currency translation differences
total comprehensive income for the period																																																			-144,182,000
profit attributable to:
- owners of the parent																																																			-135,008,000
- non-controlling interests																																																			-593,000
comprehensive income attributable to:
owners of the parent																																																			-143,589,000
non-controlling interests																																																			-593,000
see accompanying notes that are an integral part of these financial statements
net income from continuing operations																																																						6,468,000	10,760,000			-628,000		-426,000
net loss from discontinued operations																																																						-186,000
earnings per share from continuing operations: basic and diluted																																																						0.14				-0.03
loss per share from discontinued operations: basic and diluted																																																						-0.01
cash dividends per share declared																																																						0.2				0.175								0.5				0.5		0.5			0.4	0.4	0.4	0.4
total other incomes																																																							-673,000					-975,000					-1,489,000																		-370,000					-363,000
net income from discontinued operations																																																							-42,000			-356,000		-6,512,000
basic earnings per share from continuing operations																																																							0.35					-0.02
basic loss per share from discontinued operations
income on timecharter basis ( per day per vessel)*																																																																																								55,300
capesize																																																							25,200					17,900					35,600
* calender days less off-hire after deduction of broker commission
8,608																																																								13,467,000
240																																																								2,925,000
2,072																																																								2,043,000
1,206																																																								1,508,000
2,795																																																								2,793,000
6,313																																																								9,269,000
2,295																																																								4,198,000
49																																																								6,000
(924																																																								-592,000
(122																																																								-129,000
(997																																																								-715,000
1,298																																																								3,483,000
(1,574																																																								-472,000
(276																																																								3,011,000
0.05																																																								120
(0.06																																																								-20
22,700																																																								28,600,000
earnings per share from discontinued operations: basic and diluted																																																										-0.01
3,905																																																											7,660,000
612																																																											1,519,000
1,867																																																											1,859,000
1,125																																																											1,345,000
2,762																																																											2,750,000
6,366																																																											7,473,000
(2,461																																																											187,000
17																																																											9,000
(939																																																											-708,000
(101																																																											-116,000
(1,023																																																											-815,000
(3,484																																																											-628,000
202																																																											-356,000
(3,282																																																											-984,000
(0.14																																																											-30
0.01																																																											-10
(0.13																																																											-40
9,100																																																											16,900,000
basic earnings per share from discontinued operations																																																												-0.26
13,898																																																													8,608,000
484																																																													240,000
2,029																																																													2,069,000
942																																																													1,206,000
2,792																																																													2,795,000
6,247																																																													6,310,000
7,651																																																													2,298,000
7																																																													49,000
(929																																																													-924,000
(125																																																													-122,000
(1,047																																																													-997,000
6,604																																																													1,301,000
1,184																																																													-1,577,000
7,788																																																													-276,000
0.27																																																													50
0.50																																																													-60
0.32																																																													-10
26,900																																																													9,200,000
36,500																																																													22,700,000
25,966																																																														12,986,750	51,947,000
4,728																																																														4,010,000	16,040,000
4,054																																																														2,582,500	10,330,000
973																																																														763,250	3,053,000
5,737																																																														4,250,500	17,002,000
15,492																																																														22,005,500	88,022,000
10,474																																																														-12,188,500	-48,754,000
13																																																														15,000	60,000
(1,249																																																														-975,500	-3,902,000
(159																																																														-139,250	-557,000
(1,395																																																														-1,099,750	-4,399,000
9,079																																																														-13,288,250	-53,153,000
0.37																																																														-547.5	-2,190
25,300																																																														3,750,000	15,000,000
36,800																																																														5,625,000	22,500,000																								58,700,000
22,897																																																																12,958,000
2,010																																																																4,621,000
5,845																																																																3,414,000
794																																																																1,125,000
5,674																																																																5,674,000
14,323																																																																14,834,000
8,574																																																																-1,876,000
14																																																																19,000				3,250	13,000
(1,254																																																																-1,281,000
(154																																																																-144,000
(1,394																																																																-1,406,000
7,180																																																																-3,282,000
0.30																																																																-130
29,000																																																																20,100,000
36,600																																																																9,100,000
operating expense
earnings per share - basic																																																																	0.29
earnings per share - diluted																																																																	0.29
vlcc																																																																	23,400
bareboat revenues																																																																		3,358,000				3,322,000		3,322,000			1,643,000	1,643,000
21,626																																																																			24,946,000
1,045																																																																			3,389,000
6,715																																																																			3,948,000
841																																																																			942,000
5,581																																																																			5,736,000
14,182																																																																			14,015,000
7,444																																																																			10,931,000
32																																																																			7,000
(1,248																																																																			-1,289,000
(224																																																																			-161,000
(1,440																																																																			-1,443,000
6,004																																																																			9,488,000
0.25																																																																			390
34,400																																																																			26,900,000
36,900																																																																			36,500,000						34,400,000
23,744																																																																				6,491,500	25,966,000
3,275																																																																				1,182,000	4,728,000
4,261																																																																				1,013,500	4,054,000
759																																																																				243,250	973,000
5,079																																																																				1,434,250	5,737,000
13,374																																																																				3,873,000	15,492,000
10,370																																																																				2,618,500	10,474,000
(1,219																																																																				-312,250	-1,249,000
(293																																																																				-39,750	-159,000
(1,498																																																																				-348,750	-1,395,000
8,872																																																																				2,269,750	9,079,000
0.48																																																																				92.5	370
30,800																																																																				6,325,000	25,300,000
40,700																																																																				9,200,000	36,800,000
26,341																																																																							22,897,000
2,748																																																																							2,010,000
3,916																																																																							5,845,000
917																																																																							794,000
4,478																																																																							5,674,000
12,059																																																																							14,323,000
14,282																																																																							8,574,000
(738																																																																							-1,254,000
(112																																																																							-154,000
(845																																																																							-1,394,000
13,437																																																																							7,180,000
0.79																																																																							300
49,800																																																																							29,000,000
45,500																																																																							36,600,000
net other incomes																																																																								-1,394,000				-845,000		-827,000
23,418																																																																									21,626,000
3,011																																																																									1,045,000
5,531																																																																									6,715,000
588																																																																									841,000
4,296																																																																									5,581,000
13,426																																																																									14,182,000
9,992																																																																									7,444,000
4																																																																									32,000
(874																																																																									-1,248,000
(136																																																																									-224,000
(1,006																																																																									-1,440,000
8,986																																																																									6,004,000
0.53																																																																									250																882.5	3,530
44,300																																																																									36,900,000
16,109																																																																															23,418,000
239																																																																															3,011,000
3,843																																																																															5,531,000
392																																																																															588,000
3,427																																																																															4,296,000
7,901																																																																															13,426,000
8,208																																																																															9,992,000
415																																																																															4,000
(808																																																																															-874,000
(51																																																																															-136,000
(444																																																																															-1,006,000
7,764																																																																															8,986,000
0.45																																																																															530
43,900																																																																															36,900,000
21,984																																																																																		13,972,000
632																																																																																		2,269,000
3,243																																																																																		4,459,000
377																																																																																		403,000			101,500	406,000
3,428																																																																																		3,409,000
7,680																																																																																		10,540,000
14,304																																																																																		3,432,000
557																																																																																		29,000
14,166																																																																																		3,096,000
0.83																																																																																		180
58,700																																																																																		33,100,000
earnings per share																																																																																			0.38					0.87
income on timecharter basis ( per day per vessel)* vlcc																																																																																			40,700
24,201																																																																																				16,109,000
49,119
2,689																																																																																				239,000
4,398																																																																																				3,843,000
351																																																																																				392,000
4,210																																																																																				3,427,000
11,648																																																																																				7,901,000
61,672																																																																																				8,208,000
262																																																																																				415,000
(1,490																																																																																				-808,000
(91																																																																																				-51,000
(1,319																																																																																				-444,000
60,353																																																																																				7,764,000
3.53																																																																																				450
46,800																																																																																				43,900,000
20,166																																																																																					4,953,250	19,813,000
2,770																																																																																					163,500	654,000
3,712																																																																																					977,000	3,908,000
4,316																																																																																					857,000	3,428,000					4,316,000
11,175																																																																																					2,099,000	8,396,000
8,991																																																																																					2,854,250	11,417,000
260																																																																																					147,750	591,000
(1,602																																																																																					-165,750	-663,000
(45																																																																																					-11,750	-47,000
(1,387																																																																																					-29,750	-119,000
7,604																																																																																					2,824,500	11,298,000
0.44																																																																																					165	660
39,200																																																																																					13,200,000	52,800,000
19,735																																																																																							21,984,000
3,060																																																																																							632,000
3,399																																																																																							3,243,000
381																																																																																							377,000
4,269																																																																																							3,428,000					4,269,000
11,109																																																																																							7,680,000
8,626																																																																																							14,304,000
242																																																																																							557,000
(1,627																																																																																							-654,000
(30																																																																																							-41,000
(1,415																																																																																							-138,000
7,211																																																																																							14,166,000
0.42																																																																																							830
gain on sale of asset
other income/
24,460																																																																																									6,050,250	24,201,000
5,722																																																																																									672,250	2,689,000
3,523																																																																																									1,099,500	4,398,000
350																																																																																									87,750	351,000
4,315																																																																																									1,052,500	4,210,000
13,910																																																																																									2,912,000	11,648,000
10,550																																																																																									15,418,000	61,672,000
358																																																																																									65,500	262,000		242,000
(1,752																																																																																									-372,500	-1,490,000
(3																																																																																									-22,750	-91,000
(1,397																																																																																									-329,750	-1,319,000
9,153																																																																																									15,088,250	60,353,000
41,700																																																																																									11,700,000	46,800,000
30,379																																																																																											20,166,000
6,180																																																																																											2,770,000
3,589																																																																																											3,712,000
308																																																																																											377,000
14,393																																																																																											11,175,000
15,986																																																																																											8,991,000
343																																																																																											260,000
(1,836																																																																																											-1,602,000
6																																																																																											-45,000
(1,487																																																																																											-1,387,000
14,499																																																																																											7,604,000
17,100																																																																																											17,100,000	17,100,000
0.85																																																																																											440
23,678																																																																																												19,735,000
4,999																																																																																												3,060,000
4,679																																																																																												3,399,000
14,396																																																																																												11,109,000
9,282																																																																																												8,626,000
7,889																																																																																												7,211,000
0.46																																																																																												420

Balance Sheets:

Quarterly

Annual

Unit: USD	2025-07-18	2025-07-16	2024-12-31	2024-06-30	2023-12-31	2023-06-30	2022-12-31	2022-06-30	2021-12-31	2021-06-30	2020-12-31	2020-06-30	2019-12-31	2019-06-30	2018-12-31	2018-06-30	2017-12-31	2017-06-30	2016-12-31	2016-06-30	2015-12-31	2015-05-31	2015-03-31	2014-12-31	2014-06-30	2014-05-31	2013-12-31	2013-10-17	2012-12-31	2011-12-31	2010-12-31	2010-08-31	2010-06-30	2010-05-31	2010-03-31	2010-02-28	2009-12-31	2009-11-30	2009-06-30	2009-03-31	2008-12-31	2008-11-30	2008-06-30	2008-04-18	2008-03-31	2007-11-30	2007-06-30	2007-04-18

total non-current assets	3,434,227,000	3,434,227,000																				828,118,000	1,023,918,000			828,118,000
total current assets	470,819,000	470,819,000	286,541,000	284,483,000	278,917,000	272,777,000	299,147,000	355,105,000	369,390,000	365,162,000	284,529,000	217,685,000	273,077,000	265,611,000			444,500,000	235,024,000	299,932,000	316,111,000	203,660,000	251,306,000	320,075,000	64,279,000	34,377,000	251,306,000	104,741,000	63,235,000	85,849,000	81,378,000	77,928,000	36,256,000		30,854,000			29,327,000	18,048,000			92,886,000			107,353,000				107,353,000
total assets	3,905,046,000	3,905,046,000	3,379,294,000	3,461,860,000	3,489,018,000	3,464,281,000	3,257,291,000	3,387,705,000	3,454,177,000	3,482,676,000	2,721,067,000	2,715,978,000	2,966,057,000	2,903,587,000	2,869,028,000		2,870,058,000	2,730,072,000	2,361,623,000	2,409,487,000	2,178,667,000	1,079,424,000	1,343,993,000	1,262,740,000	680,268,000	1,079,424,000	409,858,000	362,810,000	397,420,000	521,219,000	541,953,000	372,783,000	372,783,000	371,951,000	371,951,000	448,651,000	374,946,000	352,439,000	349,124,000	332,305,000	331,685,000	335,133,000	336,897,000	342,166,000	339,085,000	312,095,000	319,012,000	342,166,000
equity attributable to owners of cmb.tech	1,192,324,000	1,192,324,000
total non-current liabilities	2,320,066,000	2,320,066,000																				456,552,000	601,021,000			456,552,000
total current liabilities	392,656,000	392,656,000	234,392,000	243,384,000	226,191,000	243,333,000	211,628,000	230,225,000	248,073,000	304,249,000	241,675,000	529,611,000	233,367,000	351,274,000			181,727,000	56,942,000	43,601,000	77,158,000	80,034,000	153,896,000	105,933,000	34,779,000	14,858,000	153,896,000	7,417,000	6,004,000	11,498,000	11,147,000	12,312,000	15,462,000		24,097,000			28,716,000	40,455,000			48,900,000			17,850,000				17,850,000
total equity and liabilities	3,905,046,000	3,905,046,000
assets
current assets
cash and cash equivalents			129,106,000	99,454,000	116,382,000	103,897,000	134,784,000	163,981,000	197,032,000	154,655,000	153,093,000	70,335,000	88,931,000	97,937,000			309,029,000	122,699,000	212,942,000	210,773,000	102,617,000	106,147,000	127,228,000	42,221,000	18,130,000	106,147,000	98,250,000	58,003,000	79,259,000	46,848,000	56,771,000	9,960,000	9,960,000	8,594,000	8,594,000	21,053,000	7,964,000	1,607,000	36,691,000	80,171,000	77,998,000	74,660,000	87,498,000	82,143,000	87,908,000	4,856,000	8,358,000	82,143,000
restricted cash			2,623,000	3,601,000	2,254,000	3,426,000	3,289,000	4,340,000	12,985,000	20,162,000	22,009,000	33,747,000	15,449,000	19,612,000			8,110,000	4,361,000	315,000	15,779,000	351,000			18,923,000	15,000,000		15,000,000	15,000,000	15,000,000	15,000,000	15,000,000	15,000,000	15,000,000	10,000,000	10,000,000	15,000,000	10,000,000	10,000,000	10,000,000	10,000,000	10,000,000	10,000,000	10,000,000	10,000,000	10,000,000	10,000,000	10,000,000	10,000,000
trade accounts receivable			25,485,000	29,977,000	29,809,000	30,538,000	14,950,000	28,144,000	28,838,000	50,891,000	22,704,000	21,503,000	45,635,000	30,439,000			23,363,000	14,389,000	14,755,000	8,802,000	9,631,000			2,770,000	6,468,000		3,298,000	1,111,000	2,102,000	7,721,000	2,008,000	4,145,000		8,014,000			4,437,000	3,714,000			2,745,000			4,843,000				4,843,000
other current assets			53,954,000	57,270,000	47,812,000	40,371,000	54,430,000	81,161,000	35,158,000	39,035,000	29,351,000	33,154,000	31,498,000	29,471,000	27,991,000	27,991,000																	11,296,000		12,260,000	8,249,000			4,398,000	6,405,000		8,783,000	10,749,000		9,352,000	8,793,000	8,414,000
related party receivables			2,132,000	6,655,000	3,734,000	3,578,000	2,334,000	2,752,000	8,615,000	2,565,000	3,000	2,062,000	5,180,000	6,344,000			1,990,000	3,470,000	1,927,000	2,099,000	8,451,000			449,000							69,000
derivative instruments receivable			9,111,000	12,779,000	12,480,000	13,738,000	20,861,000	172,000		1,394,000		1,227,000		2,780,000				1,086,000		826,000	1,641,000
favorable charter party contracts			754,000	793,000	796,000	562,000				1,906,000	4,073,000	7,259,000	12,148,000	16,500,000			18,732,000	19,741,000	22,413,000	26,946,000	28,829,000
inventories			37,463,000	40,921,000	40,887,000	51,682,000	45,434,000	47,880,000	43,383,000	48,817,000	25,165,000	27,037,000	28,235,000	39,288,000			20,142,000	26,017,000	17,953,000	21,925,000	15,156,000	8,513,000	11,331,000	13,243,000	7,138,000	8,513,000	1,729,000	2,278,000	1,181,000	3,791,000	1,492,000	3,084,000		2,734,000			3,167,000	2,056,000			1,222,000			3,923,000				3,923,000
prepaid expenses			11,957,000	11,507,000	6,771,000	9,121,000	12,503,000	11,407,000	8,440,000	13,333,000	10,440,000	6,752,000	6,335,000	8,061,000
voyages in progress			11,721,000	21,526,000	17,992,000	13,229,000	16,974,000	13,932,000	30,576,000	28,348,000	13,435,000	11,280,000	21,929,000	5,170,000	5,478,000	3,738,000	9,062,000	9,027,000	3,998,000	5,218,000	1,690,000			1,322,000
other intangible assets			2,235,000	1,727,000
vessels and equipment			2,959,129,000	2,984,408,000	2,987,360,000	2,952,894,000	2,665,785,000	2,744,961,000	2,880,321,000	2,964,677,000	2,267,686,000	2,324,419,000	2,340,753,000	2,365,773,000			2,215,003,000	2,243,448,000	1,758,939,000	1,764,813,000	1,488,205,000	698,258,000	833,370,000			698,258,000
vessels held for sale				16,455,000	14,486,000		12,542,000	39,884,000			9,504,000
newbuildings				31,421,000	54,777,000	62,397,000	91,898,000	49,830,000	35,678,000								105,727,000	126,506,000	180,562,000	193,784,000	338,614,000			323,340,000	99,047,000		26,706,000	15,343,000										66,884,000	117,376,000	51,633,000	51,305,000	50,725,000	34,224,000	33,459,000	33,935,000	32,953,000	32,423,000	33,459,000
finance leases, right of use assets			53,656,000	61,191,000	68,643,000	76,177,000	83,589,000	91,123,000	98,535,000	106,069,000	113,480,000	121,015,000	193,987,000	721,000
operating leases, right of use assets			6,848,000	8,367,000	9,538,000	12,988,000	15,646,000	25,652,000	19,965,000	19,550,000	22,739,000	25,981,000	54,853,000	196,827,000
investments in associated companies			53,056,000	52,582,000	58,536,000	58,399,000	65,400,000	60,504,000	41,343,000	19,932,000	16,399,000	18,469,000	21,483,000	1,686,000			2,287,000	5,211,000	4,224,000		6,225,000
other long-term assets			1,879,000	1,256,000	416,000	6,070,000	1,586,000	994,000	2,758,000
liabilities and equity
current liabilities
current portion of long-term debt			113,848,000	115,361,000	109,309,000	106,372,000	92,865,000	96,070,000	105,864,000	85,062,000	87,831,000	379,312,000	87,787,000	233,668,000			109,671,000				20,380,000			19,812,000	2,604,000				4,700,000	3,600,000	3,600,000	7,600,000		13,960,000	13,960,000		13,960,000	28,260,000			42,560,000	8,960,000
current portion of finance lease obligations - related party			18,829,000	20,149,000	19,601,000	19,007,000	18,387,000	18,517,000	21,755,000
current portion of operating lease obligations			2,414,000	2,697,000	2,632,000	4,900,000	5,546,000	11,695,000	13,860,000	16,173,000	16,783,000	14,698,000	14,377,000	22,585,000
derivative instruments payables			74,000		172,000		1,313,000		10,364,000		27,692,000		10,455,000				2,293,000		1,990,000
unfavorable charter party contracts			2,401,000	2,490,000	2,496,000	2,497,000				1,056,000
related party payables			3,231,000	13,164,000	9,157,000	11,761,000	9,492,000	26,646,000	13,934,000	37,681,000	4,865,000	2,066,000	3,970,000	696,000			2,730,000	906,000	1,387,000	1,596,000	4,101,000			2,555,000						319,000
trade accounts payable			11,793,000	9,421,000	9,524,000																			4,937,000	1,773,000		1,430,000	1,984,000	1,277,000	2,056,000	3,867,000	2,289,000		4,550,000			3,664,000	3,062,000			1,820,000			620,000				620,000
accrued expenses			60,508,000	47,267,000	46,041,000	48,074,000	43,388,000	35,198,000	38,569,000	41,105,000	34,550,000	32,944,000	44,739,000	33,846,000			24,304,000	20,563,000	17,867,000	14,354,000	17,878,000			4,190,000	7,981,000		2,364,000	1,497,000	2,501,000	4,514,000	3,514,000	4,352,000		5,318,000			6,841,000	7,676,000			2,111,000			5,861,000				5,861,000
other current liabilities			21,294,000	32,728,000	27,259,000	38,668,000	33,494,000	36,655,000	37,265,000	46,632,000	28,077,000	25,775,000	42,135,000	30,826,000	36,757,000	35,017,000	32,089,000	19,835,000	14,617,000	19,510,000	13,993,000									658,000	1,331,000	1,221,000	7,862,000	269,000	10,137,000	10,650,000	4,251,000	1,457,000	22,944,000	6,982,000	2,409,000	6,762,000	4,759,000	2,409,000	6,048,000	8,223,000	9,683,000	2,409,000
long-term liabilities
long-term debt			1,188,679,000	1,220,157,000	1,260,758,000	1,252,669,000	1,027,991,000	1,101,399,000	1,156,481,000	858,307,000	957,652,000	708,423,000	1,026,083,000	914,012,000			1,134,788,000	1,287,498,000	1,058,418,000	1,052,815,000	913,913,000			343,688,000	122,396,000		95,000,000	95,000,000	106,978,000	150,140,000	153,740,000	105,900,000	105,900,000	103,030,000	103,030,000	129,640,000	106,520,000	81,260,000	56,000,000		60,480,000			103,040,000				103,040,000
non-current portion of finance lease obligations - related party			49,158,000	57,668,000	67,987,000	77,816,000	87,588,000	96,823,000	105,975,000
non-current portion of operating lease obligations			6,918,000	8,215,000	9,621,000	10,907,000	13,051,000	21,150,000	14,907,000	18,400,000	25,254,000	34,433,000	42,010,000	165,084,000
other long-term liabilities			170,000	2,039,000	2,570,000	3,825,000
total liabilities			1,479,317,000	1,531,463,000	1,567,127,000	1,588,550,000	1,340,258,000	1,449,597,000	1,525,436,000	1,682,838,000	1,352,311,000	1,412,033,000	1,452,666,000	1,430,370,000	1,380,677,000		1,376,009,000	1,362,701,000	1,122,904,000	1,153,526,000	1,020,018,000			378,467,000	137,254,000		102,417,000	101,254,000	119,726,000	161,287,000	166,052,000	121,362,000		127,127,000			135,236,000	121,715,000			109,380,000			120,890,000				120,890,000
commitments and contingencies*
equity
share capital			10,061,000	10,061,000	10,061,000	10,061,000	10,061,000	10,061,000	10,061,000	10,061,000	7,215,000	7,215,000	7,215,000	7,215,000			7,111,000	6,477,000	5,299,000	5,297,000	1,727,000	44,731,000	44,731,000	801,000	491,000	44,731,000	305,000	245,000	244,000	244,000	244,000	171,000		171,000			171,000	171,000			171,000			171,000				171,000
treasury shares			-14,314,000	-8,577,000	-11,527,000	-12,466,000	-5,014,000	-1,741,000	-4,309,000	-4,422,000	-5,386,000	-5,669,000	-5,669,000
additional paid in capital			1,124,000	1,124,000	1,124,000	1,053,000	851,000	587,000	285,000		979,000	768,000	715,000	473,000			454,694,000	356,530,000	201,864,000	201,784,000		99,187,000	99,187,000	772,863,000	417,079,000	99,187,000	183,535,000	132,115,000	131,766,000	131,256,000	131,026,000
contributed capital surplus			1,582,257,000	1,582,257,000	1,582,257,000	1,582,257,000	1,582,257,000	1,582,257,000	1,762,649,000	2,033,237,000	1,732,670,000	1,732,670,000	1,739,834,000	1,775,678,000			1,378,824,000	1,378,824,000	1,378,824,000	1,378,809,000	1,378,766,000			111,614,000	125,444,000		131,520,000	141,134,000	149,700,000	179,019,000	179,019,000	179,019,000		179,019,000			179,019,000	179,019,000			179,019,000
accumulated earnings			320,849,000	345,532,000	339,976,000	294,826,000	328,878,000	346,944,000	160,055,000
total equity			1,899,977,000	1,930,397,000	1,921,891,000	1,875,731,000	1,917,033,000	1,938,108,000	1,928,741,000	1,799,838,000	1,368,756,000	1,303,945,000	1,513,391,000	1,473,217,000			1,494,049,000	1,367,371,000	1,238,719,000	1,255,961,000	1,158,649,000	468,976,000	637,039,000	884,273,000	543,014,000	468,976,000	307,441,000	261,556,000	277,694,000	359,932,000
total liabilities and equity			3,379,294,000	3,461,860,000	3,489,018,000	3,464,281,000	3,257,291,000	3,387,705,000	3,454,177,000	3,482,676,000	2,721,067,000	2,715,978,000	2,966,057,000	2,903,587,000			2,870,058,000	2,730,072,000	2,361,623,000	2,409,487,000	2,178,667,000			1,262,740,000	680,268,000		409,858,000	362,810,000	397,420,000	521,219,000
long-term assets
derivative instruments receivable long-term				19,608,000		22,579,000		18,815,000
derivative instruments payable				107,000		829,000		202,000		18,106,000		36,208,000		10,293,000				4,539,000		20,602,000	5,400,000
commitments and contingencies
marketable securities						2,635,000	2,187,000	1,336,000	1,684,000	4,056,000	3,684,000	3,329,000	13,861,000	10,009,000			16,300,000	9,172,000	6,524,000	3,604,000	14,615,000
trade accounts payables						11,225,000	7,143,000	5,242,000	6,462,000	7,179,000	18,402,000	15,873,000	12,402,000	14,673,000			5,401,000	6,056,000	2,882,000	6,495,000	2,533,000
derivative instruments receivables							12,262,000		2,679,000		572,000		3,876,000				3,748,000		1,594,000
other long term assets										1,058,000	502,000	200,000	8,267,000	18,097,000			10,681,000	8,806,000	7,527,000	6,317,000	4,744,000									1,458,000	2,364,000
current portion of long-term related party debt										27,058,000
current portion of finance lease obligations										24,197,000	23,475,000	22,735,000	17,502,000	4,687,000
long-term related party debt										386,542,000							44,000,000
non-current portion of finance lease obligations										115,340,000	127,730,000	139,566,000	151,206,000
accumulated deficit										-239,038,000	-366,722,000	-431,039,000	-228,704,000
other long term liabilities																	8,059,000	8,136,000	8,212,000	8,385,000	8,540,000	2,201,000	1,753,000			2,201,000
liabilities
stockholders' equity																																	251,421,000			276,011,000			227,620,000
total stockholder's equity															1,488,351,000
other receivables																	25,437,000	18,166,000	10,987,000	13,305,000	14,992,000			3,430,000	931,000		943,000	699,000	2,691,000	3,674,000	1,189,000	795,000		660,000			662,000	267,000			446,000			5,836,000				5,836,000
prepaid expenses and accrued income																	8,587,000	6,896,000	6,524,000	6,834,000	5,687,000			844,000	886,000		521,000	496,000	616,000	3,413,000	1,399,000	458,000		852,000			418,000	404,000			475,000			608,000				608,000
vessels under capital leases																	2,061,000	2,512,000	2,956,000	6,880,000	8,354,000
current portion of obligations under capital leases																	5,239,000	5,043,000	4,858,000	14,601,000	15,749,000
obligations under capital leases																	7,435,000	10,125,000	12,673,000	15,168,000	17,531,000
accumulated other comprehensive income																	5,323,000	4,935,000	2,287,000
retained deficit																												-11,938,000
equity method investments																				3,794,000
other comprehensive loss
deferred charges																					5,797,000			3,533,000	3,946,000		664,000	900,000	1,222,000	2,110,000	2,629,000	1,035,000	1,035,000	1,128,000	1,128,000	1,935,000	1,220,000	1,322,000	80,000	107,000	134,000	177,000	210,000	282,000	246,000			282,000
non current assets
vessels held under finance leases																						56,535,000	126,145,000			56,535,000
vessels under construction																						42,398,000	26,694,000			42,398,000
other long term receivables																						9,189,000	8,883,000			9,189,000
available-for-sale financial assets																						9,164,000	15,478,000			9,164,000
derivative financial instruments																						2,093,000	3,411,000			2,093,000
installments on cancelled newbuildings
investment in associates and joint ventures																						10,481,000				10,481,000
trade and other receivables																						21,554,000	25,931,000			21,554,000
refundable installments on cancelled newbuildings																						111,561,000	149,477,000			111,561,000
restricted deposit																						3,531,000	6,107,000			3,531,000
equity and liabilities
equity attributable to equity holders of the parent
other reserves																						42,999,000	50,137,000			42,999,000
retained earnings																						282,059,000	442,772,000			282,059,000				49,413,000	65,612,000	72,231,000		65,634,000			60,520,000	51,534,000			43,115,000			42,086,000				42,086,000
non-controlling interests																							212,000
non-current liabilities
long term debt																						396,957,000	492,094,000			396,957,000																96,320,000
obligations under finance leases																						55,288,000	107,174,000			55,288,000
long-term debt - current portion																						128,435,000	66,144,000			128,435,000
obligations under finance leases – current portion																						4,290,000				4,290,000
amount due to related parties																						1,180,000	534,000			1,180,000
trade payables and other current liabilities																						19,991,000	32,059,000			19,991,000
total liabilities and shareholders' equity																						1,079,424,000	1,343,993,000			1,079,424,000
see accompanying notes that are an integral part of these financial statements
investment in associated companies and joint ventures																							9,937,000
obligations under finance leases — current portion																							7,195,000
vessels																								852,665,000	527,898,000		262,747,000	268,332,000	273,826,000	436,273,000	459,032,000	335,492,000	335,492,000	339,969,000	339,969,000	402,414,000	344,399,000	266,185,000	180,579,000	183,989,000	187,360,000	190,788,000	194,216,000	201,072,000	197,644,000	255,144,000	259,459,000	201,072,000
deferred charter revenue																								3,285,000	2,500,000		3,623,000	2,523,000	3,020,000
voyage in progress																									824,000			648,000		931,000		2,814,000					2,679,000
vessel held for sale																													21,523,000
retained (deficit) earnings
liabilities and stockholders' equity
total stockholders' equity																															375,901,000	251,421,000		244,824,000			239,710,000	230,724,000			222,305,000
total liabilities and stockholders' equity																															541,953,000	372,783,000	372,783,000	371,951,000	371,951,000	448,651,000	374,946,000	352,439,000	349,124,000		331,685,000
short term
long term
short-term debt and current portion of long-term debt																																	7,600,000			32,350,000			42,560,000
stockholders‟ equity																																			244,824,000
liabilities and stockholders’ equity
short term debt and current portion of long-term debt																																								42,560,000			8,960,000		8,960,000	11,200,000	11,200,000
long term interest bearing debt																																								58,240,000			98,560,000		100,800,000	123,200,000	126,000,000
stockholders’ equity																																								224,523,000		223,091,000	224,618,000		223,277,000	169,472,000	172,129,000
total liabilities and stockholders’ equity																																								332,305,000		335,133,000	336,897,000	342,166,000	339,085,000	312,095,000	319,012,000	342,166,000
credit facilities and current portion of long-term debt																																												8,960,000				8,960,000
contributed capital surplus account																																												179,019,000				179,019,000
total stockholders’ equity																																												221,276,000				221,276,000
deferred charges and other long-term assets																																														349,000	358,000

Cashflow Statements:

Quarterly

Annual

Unit: USD	2010-08-31	2010-05-31	2009-11-30	2009-05-31

net cash from operating activities	29,546,000	12,850,000	22,582,000	9,016,000
capital expenditures	0	0	0	0
free cash flows	29,546,000	12,850,000	22,582,000	9,016,000
net cash from investing activities		-3,600,000	-99,892,000	-328,000
net cash from financing activities		-8,620,000	919,000	-6,515,000
net change in cash, cash equivalents and restricted cash
cash, cash equivalents and restricted cash at end of year
net income	23,681,000	10,244,000	12,694,000	6,494,000
adjustments to reconcile net income to net cash from operating activities:
depreciation	8,907,000	4,429,000	10,047,000
amortization of debt issuance cost
gain from sale of vessels
impairment loss on vessels
share option expenses
share of results of associated companies
dividends received from associated companies
amortization of charter party-out contracts
mark to market loss on derivatives
mark to market loss on marketable securities
non-cash lease expense
other
changes in operating assets and liabilities, net:
trade accounts receivable	292,000	-3,576,000	-968,000
related party payables and receivables balances
other receivables		2,000	180,000
inventories	83,000	433,000	-833,000
voyages in progress
prepaid expenses
other intangible assets
other long-term assets
trade accounts payables
accrued expenses		-716,000	5,564,000
other current liabilities		-1,188,000	-952,000	6,982,000
investing activities
dividends received from marketable equity securities
proceeds from sale of shares in associated companies
repayment of loans receivable from related parties
additions to newbuildings		-3,600,000	-99,892,000	-328,000
purchase of vessels and equipment
proceeds from sale of vessels
financing activities
proceeds from long-term debt			30,000,000
repayment of long-term debt		-3,490,000
repayment of finance leases
debt fees paid			-1,286,000
share repurchases
proceeds from exercise of share options
distributions to shareholders
cash, cash equivalents and restricted cash at beginning of year
supplemental disclosure of cash flow information:
interest expenses paid, net of amounts capitalized
income taxes paid
amortization of deferred charges	185,000	92,000	98,000
amortization of unfavorable charter party contracts
net gain from sale of assets
other long-term liabilities
additions to vessels and right of use assets
other investing activities
proceeds from share distributions
cash, cash equivalents and restricted cash at beginning of period
cash, cash equivalents and restricted cash at end of period
mark to market (gain) loss on derivatives
mark to market (gain) loss on marketable securities
net proceeds from share issuance
impairment loss on right of use assets
gain from disposal of associated companies
loan advance to related parties
lease incentives received
interest expenses paid
related party balances
repayments of loans receivable from related party
amortization of other fair value adjustments, net, arising on the merger
provision for onerous contracts
purchase of investment in associated companies
additions to newbuildings (including related party amounts of 116,445, nil and nil for the years ended december 31, 2021, 2020 and 2019 respectively
proceeds from sale of marketable securities
net proceeds from share distributions
loan advances to related party
loss on sale of assets and amortization of deferred gains
amortization of charter party-in contracts
dividends from associated companies
payments received from seller credit receivable
investments in equity securities
payments related to upgrades and vessels
payments related to share repurchases
payments related to upgrades, vessels and newbuildings
distributions from associated companies
proceeds from seller credit receivable
loss on sale of marketable securities
impairment loss on vessels and newbuildings
equity award expenses
equity results of associated companies, including impairment
impairment of associated companies
gain on purchase of associated companies
provision for uncollectible receivables
impairment loss on marketable securities
other long term assets
other long term liabilities
repayment of capital leases
additions to newbuildings and vessels
investment in associated companies
bargain purchase gain arising on consolidation
provision for doubtful debts
changes in operating assets and liabilities, net of acquisition:
related party balances,net
prepaid expenses and accrued income		-434,000	71,000
changes in restricted cash
dividends received from investments
purchase of marketable securities
refund of newbuilding installments
cash acquired upon purchase of spc's
cash acquired upon merger with former golden ocean
proceeds from the sale of marketable securities
net change in cash and cash equivalents
cash and cash equivalents at beginning of year
cash and cash equivalents at end of year
interest paid, net of capitalized interest	1,397,000	663,000	923,000
dividends received from associated company
cash and cash equivalents at beginning of period	7,964,000	7,964,000	77,998,000
cash and cash equivalents at end of period	9,960,000	8,594,000	1,607,000	80,171,000
net loss from discontinued operations
net income from continuing operations
restricted stock unit expense
equity results of associated companies
amortization of favorable charter party contracts
cash from operating activities of discontinued operations
net cash from by investing activities
16,558
-
8,134
2,424
252
2,274
3,464
210,773
178,299
cash acquired upon purchase of spcs
6,476
16,783
(78
(299
6,372
(169
2,478
(21,321
7,001
17,623
13,522
(41,586
46,252
18,188
(1,168
34,643
212,942
net income from discontinued operations
benefit from onerous contracts
provision of doubtful debts
benefit from uncollectible receivables
trade accounts payable		885,000	-3,319,000
cash from investing activities of discontinued operations
cash from financing activities of discontinued operations
5,793
7,383
6,697
25,148
180,000
166,739
78,052
18,130
96,182
net loss on sale of assets
amortization of time charter contract value
provision for doubtful accounts
changes in operating assets and liabilities:
inventories, net of disposals
deferred charter revenue
placement of restricted cash
purchase of vessels
proceeds from sale of assets
purchase of vessel
cash acquired on purchase of spcs
proceeds from sale of vessel
proceeds from (repayment) of long-term debt
cash and cash equivalents at start of period				77,998,000
operating activities
adjustments to reconcile net income to net cash from operating activities;
depreciation and amortization
net income on sale of vessels
benefit from doubtful accounts
change in operating assets and liabilities				-877,000
proceeds from the sale of assets
net increase in cash and cash equivalents	1,996,000	630,000		2,173,000
net cash from in investing activities
(3,282
5,826
2,092
210
5,622
1,453
11,921
(900
(8,553
(9,453
2,468
46,302
48,770
(276
3,805
409
287
(352
(1,969
1,904
40,281
(26,166
(4,277
(30,443
11,742
67,517
79,259
net cash from (used) in investing activities
9,079
5,892
213
54
(6,387
8,851
(12,213
(13,113
(4,262
53,624
49,362
related party receivables
voyage in progress		2,679,000
change in restricted cash
dividends paid		-5,130,000	-4,275,000	-4,275,000
interest paid
7,788
5,891
66
1,700
(5,060
10,598
(12,212
(13,112
(2,514
46,848
net from financing activities
8,872
5,319
5,834
20,025
(47,000
(57,250
105,740
(1,140
(9,282
38,068
11,093
9,960
21,053
adjustments to reconcile net income to net cash
provided by operating activities:
13,437
4,571
(1,312
16,696
(5,000
(3,490
(6,840
(10,330
1,366
8,594
6,004
5,808
152
936
12,900
(104,650
100,000
(921
87,602
69,818
35,718
56,771
amortization
8,986
4,387
(1,393
11,980
(16,583
(19,040
30,000
10,960
6,357
1,607
7,964
gain on sale of assets
proceeds from sale of asset
proceeds from long-term debt and credit facilities
repayments of long-term debt and credit facilities
repayments of long-term debt			-23,520,000	-2,240,000
net decrease in cash and cash equivalents			-76,391,000
14,166
14,944
87,908
87,498
assets
short term
cash and cash equivalents				80,171,000
restricted cash				10,000,000
other current assets				6,405,000
long term
vessels				183,989,000
newbuildings				51,633,000
deferred charges				107,000
total assets				332,305,000
liabilities and stockholders’ equity
short term debt and current portion of long-term debt				42,560,000
long term interest bearing debt				58,240,000
stockholders’ equity				224,523,000
total liabilities and stockholders’ equity				332,305,000
statement of cash flows				2,009,000
adjustments to reconcile net income to net cash from operating activities
depreciation and amortisation				3,399,000
7,764
3,470
3,474
14,708
(580
(2,240
(8,550
(10,790
3,338
74,660
77,998
7,604
4,350
(1,840
10,114
(530
(2,800
(10,260
(26
(13,086
(3,502
8,358
4,856
7,211
4,286
4,239
15,736
(32,423
33,600
(103
20,437
3,750
4,608
gain on sale of asset
proceeds from disposal of vessel
net cash (used) provided by investing activities
debt finance costs
60,353
4,290
(49,119
(5,749
9,775
(506
98,980
98,474
(22,400
(12
(30,962
77,287
82,143
14,499
4,333
(2,456
16,376
(2,816
(13,680
(16,496
(120
10,973
7,889
958
13,133
17,920
9,153
4,332
3,969
17,454
11
(17,100
(19,889
(2,435
8,538

Golden Ocean Group Limited(NASDAQ:GOGL)

Golden Ocean Group Limited
(NASDAQ:GOGL)