John Fredriksen's Golden Ocean has increased charter cover following an improvement in rates during the second quarter and into the third.
But the Oslo-listed bulker owner is also keeping significant exposure to the spot market to capitalise on further gains as the effects of the Covid-19 pandemic weaken their grip on dry markets.
The company has no capital expenditure lined up, while for the rest of 2020 it has 38% of capesize days covered at $18,810 per day and 56% of panamaxes at $14,920.
