The performance of Golden Ocean took a knock through the third quarter with profitability falling to $11.1m or $0.02 per share compared to $38.7m through the same period of last year.

The result is also down on the second quarter’s profit of $16.5m as a result of lower activity.

There is to be no dividend to protect Golden Ocean’s cash position but a share repurchase programme that should benefit shareholders continues.

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