Golden Ocean Group - M&A Activity 2021

GOGL - Exit from CCL Pool Joint Venture

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

"Company") today announced that it has terminated its relationship with Capesize

Chartering Ltd. ("CCL"), a joint venture to coordinate the Capesize spot

chartering services of Golden Ocean, Starbulk, CTM and Bocimar.

Mr Ulrik Andersen, Chief Executive Officer of Golden Ocean Management AS,

commented: "We have enjoyed our close cooperation with our CCL partners over the

last five years. CCL was formed in 2016 to achieve greater commercial scale amid

a challenging commercial environment.

Since then, the market has improved, and Golden Ocean has significantly expanded

and modernised its fleet, most recently with the acquisition of 18 modern dry

bulk vessels.

We believe Golden Ocean has the critical mass to achieve the benefits of scale

outside of the joint venture. With all of our vessels managed by a single

commercial management platform, Golden Ocean will have better control of the

commercial strategy, as well as coming closer to our customers.

Backed by a strong commercial team, we believe that Golden Ocean will be better

positioned to maximise the value of our platform."

About Golden Ocean

Golden Ocean, a leading dry bulk shipping company, owns or controls a modern

fleet of 94 vessels with an average age of approximately six years. The Company

owns 56 Capesize vessels making it the largest publicly listed owner of this

vessel class. Golden Ocean is listed on the NASDAQ and Oslo Stock Exchange under

the symbol 'GOGL'.

August 10, 2021

The Board of Directors

Golden Ocean Group Ltd.

Hamilton, Bermuda

For further queries, please contact:

Ulrik Andersen: Chief Executive Officer, Golden Ocean Management AS

+47 22 01 73 53

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act

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