Drewry Maritime Financial Research

Ishan Dafaria

Maritime Sector, Equity & Credit Research

With no ties to other players in the shipping, finance or banking world, we provide a uniquely impartial view of the markets and companies we cover. Our parent organization, Drewry is a leading independent provider of research services to the maritime and shipping industry, employing over 100 professionals across an international network of offices in London, Delhi, Singapore and Shanghai. Combining our market-leading resources with seasoned sector expertise DFRS offers a highly differentiated and comprehensive range of investment and financial research services to lenders and prospective investors in publicly listed maritime and shipping companies. The full service of reports, supporting resources and sector orientated webinars provides our clients with the most complete picture of the organisations under coverage as is possible. We have been charting and analysing the world’s maritime markets for more than 40 years. This unrivalled intelligence and understanding provides the foundation of our research service. Our analysts have access to one of the most up-to-date, comprehensive and reliable sources of market insight and research data available today. We look at globally listed companies within the following sectors: Port Operators, Container Shipping, Container Manufacturing & Leasing, LNG Shipping, Dry Bulk Shipping and Tanker Shipping. Combine in-depth sector expertise with financial analysis focusing on over 50 stocks globally.

Equity Bottom-Up

<p style="text-align: justify;">On 18 February 2020, Golden Ocean Group Limited (NASDAQ: GOGL/ OSE: GOGL) reported its 4Q19 results. According to the results, the company’s net profit has increased to USD 41.0mn (USD 0.29 per share) from USD 23.6mn (USD 0.16 per share) in 4Q18. Guided by the strong performance in 4Q19, the full-year profit for 2019 came in at USD 37.2mn (USD 0.26 per share), but is still significantly lower than USD 84.5mn (USD 0.59 per share) reported in 2018. As expected, despite the strong results, the cash dividend announced for 4Q19 stayed low at USD 0.05 per share.</p>

On 18 February 2020, Golden Ocean Group Limited (NASDAQ: GOGL/ OSE: GOGL) reported its 4Q19 results. According to the results, the company’s net profit has increased to USD 41.0mn (USD 0.29 per share) from USD 23.6mn (USD 0.16 per share) in 4Q18. Guided by the strong performance in 4Q19, the full-year profit for 2019 came in at USD 37.2mn (USD 0.26 per share), but is still significantly lower than USD 84.5mn (USD 0.59 per share) reported in 2018. As expected, despite the strong results, the cash dividend announced for 4Q19 stayed low at USD 0.05 per share.

Golden Ocean Group (NASDAQ: GOGL): Strong Result, Weak Dividend