Golden Ocean Group agrees to buy two 'resale' ice class Panamax vessel built at India's Pipavav Defence & Offshore Engineering Company. The company will take delivery of the vessels ex yard, the first vessel at the start of June and the second vessel during second half of 2013. In connection with the purchase the seller has provided a 30% seller's credit towards Golden Ocean for each vessel. The seller's credit will be repaid over three years in equal installments every January, but the first installment is at earliest 6 months after delivery of the vessel. The vessels will be named Golden Pearl and Golden Diamond. The vessels have not been part of the Company's construction program at the yard and are bought from third parties.