<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16
OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of November, 1999
Golden Ocean Group Limited
- -----------------------------------------------------------------
(Translation of registrant's name into English)
P.O. Box 265, Suite 6, Tower Hill House, Le Bordage,
St. Peter Port, GY1 3QU Channel Islands
- -----------------------------------------------------------------
(Address of principal executive office)
[Indicate by check mark whether the registrant files or will file
annual reports under cover of Form 20-F or Form 40-F.
Form 20-F / X / Form 40-F / /
[Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b) under
the Securities Exchange Act of 1934. Yes / / No / X /
[If "Yes" is marked, indicate below the file number assigned to
the registrant in connection with Rule 12g3-2 (b):
82-___________________________.]
<PAGE>
The following is the text of a press release dated November 4,
1999:
FOR IMMEDIATE RELEASE
GOLDEN OCEAN RECEIVES BONDHOLDER APPROVAL
LeBordage, Channel Islands, November 3, 1999.
Golden Ocean Group Limited announced today that it had received
the approval of holders of approximately 70% in face amount of
its Senior Notes due 2001 to the waiver of Note covenants related
to the delivery of the very large crude carrier ("VLCC") OPALIA
from Kawasaki Heavy Industries and the scheduled deliveries of
three additional VLCCs from Hitachi Zosen Corporation. Approval
of a majority of the holders was required. A wholly-owned
subsidiary of Golden Ocean has entered into an agreement to
purchase the OPALIA following the expiration of its charter to
Shell International in either two or four years. Two of the
Hitachi Zosen VLCCs, when delivered, are to be placed under the
commercial management of Stena Bulk, the third is on option to
that company.
The successful consent solicitation represents an important step
for Golden Ocean in following its strategy of building the
largest and youngest VLCC fleet.
For further information contact:
In the USA: Jim Lawrence
MTI Network (USA)
Tel: +1 203 406 0106
Fax: +1 203 406 0110
Email: [email protected]
In London: Patrick Adamson
MTI Network (UK)
Tel: +44 207 341 9111
Fax: +44 207 370 1147
Email: [email protected]
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned, thereunto duly authorized.
GOLDEN OCEAN GROUP LIMITED
(registrant)
Date: November 5, 1999 By: /s/ Fred W.Y. Cheng
______________________
Fred W.Y. Cheng
Chairman
02052006.AA2
