Per Heiberg, Chief Financial Officer of Golden Ocean Management AS, commented:


"We are very pleased to announce that we have refinanced the debt related to 14

vessels acquired in 2017. The refinancing was done at favorable terms with both

existing and new lenders. The refinancing reduces the cost of the debt for these

vessels from a margin of 310 bps to 212 bps, and extends the amortization

profile, which reduces the Company's daily running cash break even rates by

$1,300 for these 14 vessels and by $200 for the entire fleet."