Q4 2022 Golden Ocean Group Ltd Earnings Call Transcript
Good afternoon, ladies and gentlemen, and welcome to this conference call, where we'll be presenting Golden Ocean's Q4 results. Thank you very much for listening in.
In today's call, we follow our usual procedure. Peder Simonsen, Golden Ocean's CFO, will talk us through the financial highlights. And hereafter, I will be discussing the market and the outlook for the company. At the end of the presentation, I will provide more details on our recent acquisition of 6 modern Newcastlemaxes.
So in the next 20 minutes, we will show you that despite macroeconomic factors presenting a challenging backdrop, Golden Ocean generated solid results in the fourth quarter; that we continue divesting older tonnage and recycle the proceeds into equity for modern tonnage; and that despite an expected slow first half of the year, the long-term drive bulk fundamentals remain strong. With that, let's take a look at the main highlights for the quarter.
In Q4, we recorded an adjusted EBITDA of $112 million, which
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