The following is a summary of the Golden Ocean Group Limited (GOGL) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Golden Ocean reported an adjusted EBITDA of $124.4 million in Q3 2024, up from $120.3 million in Q2.

• Net income of $56.3 million and earnings per share of $0.28 in Q3 2024, with adjusted net profit at $66.7 million or $0.33 per share.

• Total revenue for Q3 was $206.6 million, a $9.2 million increase from Q2.

Business Progress:

• Sold one older Panamax and a Newcastlemax vessel, continuing the fleet renewal strategy.

• Secured attractive financing maintaining industry low cash breakeven rates.

• Announced a continued focus on Capesize and Newcastlemax segments, and a dividend of $0.30 per share for Q3 2024.

Opportunities:

• Expect healthy cargo volumes and supportive market conditions for Capesizes due to expansion projects and high-grade iron ore production increases.

• Opportunities in high-grade commodity exports, particularly from Guinea, and increased demand for Capesizes expected.

Risks:

• Market volatility and geopolitical uncertainty remain a risk to stability and profitability.

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