Golden Ocean Group

M&A Activity • Feb 10, 2014

GOGL - Acquisition of three Kamsarmax bulk carriers

GOGL - Acquisition of three Kamsarmax bulk carriers

Golden Ocean Group Limited ("Golden Ocean" or the "Company") is pleased to

announce that it has acquired three 2012 Korean built 81.500 dwt Kamsarmax bulk

carriers. These sister vessels are bought in an "enblock" transaction. They will

be delivered to the Company within end of April 2014.

One of the vessels are fixed out on an index linked Time Charter Contract until

second quarter 2016. Consequently this vessel will have full exposure to the

prevailing spot market. Charters are paying a premium of 13% compared to the

Baltic average four time charter panamax routes reflecting the earning capacity

of the vessels. The second vessel is on a Time Charter contract until fourth

quarter 2014 at $15.881 (net) and the third vessel will be redelivered to Owners

from the current Time Charter contract at the end of second quarter 2014.

The Board is pleased with the fact that Golden Ocean is in a position to grow

the Company with quality tonnage and consider risk / reward to be attractive in

a historic perspective

February 10, 2014

The Board of Directors

Golden Ocean Group Limited

Hamilton, Bermuda

Contact Persons:

Herman Billung: CEO, Golden Ocean Management AS

+47 22 01 73 41

Per Heiberg: Acting CFO, Golden Ocean Management AS

+47 22 01 73 53

This information is subject of the disclosure requirements acc. to §5-12 vphl

(Norwegian Securities Trading Act)

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