Golden Ocean Group

M&A Activity • Mar 31, 2015

VLCCF - KNIGHTSBRIDGE SHIPPING LIMITED ANNOUNCES CLOSING OF THE MERGER WITH GOLDEN OCEAN GROUP LIMITED

VLCCF - KNIGHTSBRIDGE SHIPPING LIMITED ANNOUNCES CLOSING OF THE MERGER WITH GOLDEN OCEAN GROUP LIMITED

March 31, 2015 -Knightsbridge Shipping Limited ("Knightsbridge") has completed

its previously announced merger with Golden Ocean Group Limited ("Old Golden

Ocean").

In connection with the closing of the merger, Knightsbridge will change its name

to Golden Ocean Group Limited. Trading in the shares of the combined company

will commence on the Oslo Stock Exchange on April 1, 2015. The combined company

will trade on the Oslo Stock Exchange under the ticker code "VLCCF" on April

1, 2015. Commencing on April 7, 2015, the combined company will trade on the

Oslo Stock Exchange under the ticker code "GOGL". The combined company will

begin trading under its new name and ticker symbol "GOGL" on the Nasdaq Global

Select Market on April 1, 2015.

Trading in the combined company's shares on the Oslo Stock Exchange will begin

before delivery of merger consideration shares to VPS accounts of eligible Old

Golden Ocean shareholders, and accordingly no account-to-account transactions

and no transactions with settlement prior to April 8, 2015 will be allowed on

the Oslo Stock Exchange during this period.

Prior to completion of the merger, Knightsbridge had 111,231,678 common shares

outstanding, par value $ 0.01 per share. Following completion of the merger and

the cancellation of 51,498 common shares pursuant to the terms of the merger

agreement, the combined company has 172,680,180 common shares outstanding.  The

amount of issued and outstanding common shares of the combined company will be

adjusted during the week of April 7, 2015 to account for the cash in lieu of

fractional shares to be distributed as merger consideration.

Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking

statements.  Forward-looking statements 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, but not limited to "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 Knightsbridge believes 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 the control of Knightsbridge, Knightsbridge cannot assure

you that they, or the combined company resulting from the merger, will achieve

or accomplish these expectations, beliefs or projections. The information set

forth herein speaks only as of the date hereof, and Knightsbridge disclaims any

intention or obligation to update any forward-looking statements as a result of

developments occurring after the date of this communication.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1908130]