Golden Ocean Group posts Q3 loss of S$11.4m

Singapore

GOLDEN Ocean Group Limited posted a net loss of S$11.4 million for the third quarter ended September, compared with a net profit of S$15.4 million a year ago.

Its total operating revenue for the third quarter was S$53.4 million, compared with S$78.8 million a year ago.

The earnings on the vessels are slightly lower in the third quarter of 2014 relative to the second quarter; however, this is offset by a smaller negative mark to market change on the freight forward agreement…