Bulker behemoth takes shape
John Fredriksen’s coronation as the capesize king of Wall Street was all but completed today with the approval of a merger between Golden Ocean and Knightsbridge Shipping.

John Fredriksen and Herman Billung
A special meeting of shareholders today gave their support to the deal that will see the Golden Ocean name survive in the market.
After the meeting Golden Ocean chief executive Herman Billubg paid tribute to his chief financial officer Birgitte Ringstad Vartdal and the rest of the team who brought the deal together.
“They have spent so much energy and effort on this since last October,” Billung said in a short interview with TradeWinds.
The deal sees Fredriksen take a fleet of 72 bulkers to the US capital markets, including the vast capesize fleet initially built up by Frontline 2012 before its sale to Knightsbridge in to two blocks last year.
The title of capesize king of the Street was given to Fredriksen by Pareto Securities last year after Knightsbridge moved on the Frontline 2014 newbuildings.
Fredriksen now has some knights at his round table, as the upsized Golden Ocean’s capesize vessels are part of the Capesize Chartering alliance that includes Star Bulk, Bocimar, CMT and Golden Union.
Billung says the agreement, which he repeated today is not a pool, is progressing well with co-operating between the partners living up to expectations.
source:www.tradewindsnews.com