Golden Ocean Q1 2024

Golden Ocean (GOGL) announced q1 2024 results earlier today

  • Rev of $246.7M
  • Adj EBITDA of $114.3M
  • Adj Net Income of $58.4M
  • TCE avg (daily): Cape $27 222 Panamax $14 978
  • Maintain div of 30c/sh

Liked the Cape category avg for q1 2024. Looking ahead, like what has been secured for the Panamax category in q3 2024. Though q3 has traditionally been dry bulk shipping’s strongest quarter, GOGL has leaned towards more Panamax coverage (this is not the first q3 that GOGL has opted for this strategy).

Apparently, market was expecting more - shares traded lower all day, finishing down more than 10%.