GOGL Stock Recent News

Star Bulk: The Market Outlook, The Peers, And The Risks.

Investors need not look far to obtain hints of dry bulker recovery, given GOGL's higher TCE rates in FQ2'23. FQ1'23 may be temporarily painful, due to its lower contracted TCE rates and impact from rising inflationary pressures/ elevated interest rates.

Golden Ocean Group Limited (NASDAQ:GOGL ) Q4 2022 Earnings Conference Call February 16, 2023 9:00 AM ET Company Participants Ulrik Andersen - Chief Executive Officer Peder Simonsen - Chief Financial Officer Conference Call Participants Omar Nokta - Jefferies Sherif Elmaghrabi - BTIG Operator Good day and thank you for standing by. Welcome to the Fourth Quarter 2022 Golden Ocean Group Limited Earnings Conference Call.

High fuel costs are likely to have dented Golden Ocean's (GOGL) bottom-line performance in fourth-quarter 2022.

In the latest trading session, Golden Ocean Group (GOGL) closed at $9.28, marking no change from the previous day.

While the Baltic Dry Index has plunged tragically, we are confident that TCE rates may recover moderately, attributed to the 30Y record low order book and slower steaming in 2023. Peak recessionary fears may contribute to lower rates and volume in Q1'23, but numbers may rebound from Q2 onwards once China's economic activity returns.

Dry bulk shipping companies face significant volatility as demand and supply trends become increasingly unstable. Time charter rates have fallen significantly recently as the global economy faces a recessionary dynamic.

GOGL currently has one of the better yields in the marine industry but this looks poised to decline. The payouts have been in a declining trend in recent quarters, and the FCF cover of dividends hasn't been great.

Golden Ocean revised its distribution at its Q3 earnings release, which led to a post-earnings selloff as the market needed to reflect the impact on its yield. We discuss why the selloff is justified. However, management has likely de-risked its execution risks through H1'23 by proffering soft guidance.

Golden Ocean Group Limited (NASDAQ:GOGL ) Q3 2022 Earnings Conference Call November 16, 2022 9:00 AM ET Company Participants Ulrik Andersen - Chief Executive Officer Peder Simonsen - Chief Financial Officer Conference Call Participants Omar Nokta - Jefferies Operator Ladies and gentlemen, thank you for standing by. And welcome to the Q3 2022 Golden Ocean Group Limited Earnings Conference Call.