GOGL - Appointment of Chief Commercial Officer

HAMILTON, Bermuda, Aug. 3, 2016 -- Following the announcement in April regarding changes to the corporate management team, Golden Ocean Group Limited («Golden Ocean» or «the Company») is pleased to announce the appointment of Mr Thomas Semino as Chief Commercial Officer (CCO). Mr Semino is currently the Head of Dry Freight in Vitol S.A., and has previously been Managing Director of Ocean Freight in Bunge S.A., and also has background from Cargill S.A. and Coeclerici Spa. Mr Semino has a law degree in Maritime Law from Universita' degli Studi di Genova. 

Mr Semino will be based in Singapore and will take on the position latest on November 1, 2016.

Birgitte Ringstad Vartdal, CEO of Golden Ocean Management AS, comments: "I am very pleased that Thomas Semino has accepted the newly established position as CCO. He has extensive experience from the dry bulk market and his background from trading organizations will be complimentary to our own team today. I look forward to work with Thomas and believe he will add a lot of value to Golden Ocean."

The Board of Directors

Golden Ocean Group Limited

Hamilton, Bermuda

August 3, 2016

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

HUG#2032736

CONTACT: Inger Marie Klemp (CFO), +47 23 11 40 00