Golden Ocean Group shares rose as much as 4.5% in Oslo after fourth-quarter earnings.
Most analysts expected the stock to fall after the bulker owner’s profit came in lower than expectations.
Ebitda for the fourth quarter was $69m, 25% lower than consensus.
“The miss is largely attributed to costs related to dry docking, which GOGL books on their P&L as costs,” Fredrik Dybwad, an analyst at Fearnley Securities said in a note.
