An ambitious deal to help rebuild the Iraqi merchant fleet has been signed by John Fredriksen led bulk carrier owner Golden Ocean.

The Oslo stock exchange listed company has agreed a memorandum of understanding with the Iraqi government but Golden Ocean chief executive Herman Billung says details of exactly what will be involved are still being settled.

Herman Billung
There are suggestions that Golden Ocean will be ordering multiple newbuildings for Iraq with Billung confirming that co-investment in ships is one of the options being examined.

Golden