Norway-based maritime company, ADS Maritime, renowned for its significant shipping investments since its inception in 2018, has broadened its horizons in the maritime industry. The firm, steered to the top by Terje Bodin Larsen, surges forward by acquiring a stake in the behemoth bulker owner, Golden Ocean. This benchmark move saw ADS acquiring about 130,000 shares in the multinational company, representing an investment of nearly $1m.
Golden Ocean – A Powerhouse in The Bulker Scene
Spearheaded by maritime magnate John Fredriksen, Golden Ocean is considered the globe’s premier publicly traded owner of large-sized dry bulk vessels. This titan of maritime transportation takes pride in its impressive 97 vessel-strong fleet, inclusive of four new buildings. Golden Ocean’s aggregate capacity rounds up to an impressive 14.3m deadweight tonnage.
The second quarter of 2023 saw Golden Ocean yield a remarkable $34.9m as net income, cruising comfortably alongside earnings per share valued at $0.17.
The ADS Maritime Revenue Structure
Despite its strategic acquisition of shares in Golden Ocean, ADS Maritime sustains its primary revenue streams mainly from dividends and a wide assortment of management fees. The company has established a strategy wherein it abstains from holding a controlling interest among various ship owners.
As a recent fiscal development, Golden Ocean is devising plans to distribute a cash dividend of $0.10 per share for the second quarter. The company intends to action this payout around the 19th of September.
ADS’ Profitable Endeavors with Gram Car Carriers
ADS Maritime’s fortune doesn’t stop at Golden Ocean. The company made a profitable move by selling all its owned shares in Gram Car Carriers. These shares were initially obtained in March, generating substantial profits for ADS. As a reflection of its strategic business decisions, ADS Maritime reported an approximate net profit of $1m in the second quarter of 2023.
In conclusion, ADS Maritime’s decision to invest in Golden Ocean manifests its ambition to excel in the global maritime industry. The company is deftly leveraging its position and making strategic investments to drive both growth and returns. By investing and divesting in a calculated manner, ADS is charting a course of steady profitability, further strengthening its presence on the world stage.
