Golden Ocean(US:GOGL)2025-02-26 13:14Financial Performance - Golden Ocean's adjusted EBITDA for Q4 2024 was $69.9 million, a decrease compared to $124.4 million in Q3 2024[12] - Net income for Q4 2024 was $39.0 million, with earnings per share of $0.20, down from $56.3 million and $0.28 per share in Q3 2024[12] - Full year 2024 net income reached $223.2 million, with earnings per share of $1.12[12] - TCE rates for Capesize vessels were $24,656 per day, and Panamax vessels $14,771 per day, resulting in an overall fleet TCE rate of $20,809 per day for Q4 2024[12] - A dividend of $0.15 per share was announced for Q4 2024[12] Fleet and Operations - $34.3 million was spent on drydocking expenses in Q4 2024 for 13 vessels, compared to $9.7 million for five drydockings in Q3 2024[12] - The company exercised a purchase option for eight vessels chartered from SFL for $112 million, partially financed by a new $90 million credit facility[12] - Estimated TCE rates for Q1 2025 are approximately $15,100 per day for 77% of Capesize available days and $9,900 per day for 81% of Panamax available days[12] - Estimated TCE rates for Q2 2025 are approximately $20,900 per day for 16% of Capesize available days and $14,200 per day for 10% of Panamax available days[12] Market Dynamics - Dry bulk volumes increased by 5.4% in 2024, with growth across all commodities[29] - Asia now represents 60% of drybulk volumes versus 50% in 2017, driven by growth in China, Southeast Asia, and India[38]