Golden Ocean Group

Share Issue/Capital Change • Jan 18, 2018

GOGL - Issuance of new shares in connection with delivery of vessel

GOGL - Issuance of new shares in connection with delivery of vessel

Reference is made to the stock exchange notice dated October 16, 2017 where

Golden Ocean Group Limited (NASDAQ and OSE: GOGL) ("Golden Ocean" or the

"Company") announced that it has entered into agreements to acquire two modern

Capesize vessels from affiliates of Hemen Holding Limited, a company indirectly

controlled by trusts established by Mr John Fredriksen for the benefit of his

immediate family ("Hemen"), the Company's largest shareholder, at a purchase

price of USD 43.0 million per vessel.

The first vessel, Golden Behike, was delivered in November 2017. The Company is

pleased to announce that it has now taken delivery of the second vessel, Sea

Monterrey (to be renamed Golden Monterrey). Golden Ocean has issued 2,000,000

shares to Hemen as part of the purchase price for the vessel. Following this

transaction, the Company's issued share capital is USD 7,209,884.85 divided into

144,197,697 issued shares, each with a nominal value of USD 0.05.

January 18, 2018

Hamilton, Bermuda

The Board of Directors

Golden Ocean Group Ltd.

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Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking

statements. The Private Securities Litigation Reform Act of 1995 provides safe

harbor protections for forward-looking statements, which include statements

concerning plans, objectives, goals, strategies, future events or performance,

and underlying assumptions and other statements, which are other than statements

of historical facts. Words such as "believe", "anticipate", "intends",

"estimate", "forecast", "project", "plan", "potential", "may", "should",

"expect", "pending" and similar expressions identify forward-looking statements.

The forward-looking statements in this press release are based upon various

assumptions. Although we believe that these assumptions were reasonable when

made, because these assumptions are inherently subject to significant

uncertainties and contingencies which are difficult or impossible to predict and

are beyond our control, we cannot assure you that we will achieve or accomplish

these expectations, beliefs or projections. The information set forth herein

speaks only as of the date hereof, and we disclaim any intention or obligation

to update any forward-looking statements as a result of developments occurring

after the date of this communication.

In addition to these important factors and matters discussed elsewhere herein,

important factors that, in our view, could cause actual results to differ

materially from those discussed in the forward-looking statements include the

strength of world economies, fluctuations in currencies and interest rates,

general market conditions, including fluctuations in charter hire rates and

vessel values, changes in demand in the dry bulk market, changes in our

operating expenses, including bunker prices, drydocking and insurance costs, the

market for our vessels, availability of financing and refinancing, changes in

governmental rules and regulations or actions taken by regulatory authorities,

potential liability from pending or future litigation, general domestic and

international political conditions, potential disruption of shipping routes due

to accidents, political events or acts by terrorists, and other important

factors described from time to time in the reports filed by the Company with the

Securities and Exchange Commission.

This information is subject to the disclosure requirements pursuant to section

5 -12 of the Norwegian Securities Trading Act.