| Name | Country of Incorporation | Ownership and Voting Percentage | ||||||
| Golden Ocean Group Management (Bermuda) Ltd | Bermuda | 100% | ||||||
| Golden Ocean Management AS | Norway | 100% | ||||||
| Golden Ocean Trading Ltd | Bermuda | 100% | ||||||
| Golden Ocean Shipping Co Pte Ltd | Singapore | 100% | ||||||
| Golden Ocean Holdings Ltd | Bermuda | 100% | ||||||
| Golden Ocean Shipholding Ltd | Bermuda | 100% | ||||||
| Golden Ocean Management Asia Pte Ltd | Singapore | 100% | ||||||
| Golden Brilliant (Bermuda) Ltd. | Bermuda | 100% | ||||||
| Golden Crystal Ltd. | Bermuda | 100% | ||||||
| Golden Daisy Ltd. | Bermuda | 100% | ||||||
| Golden Diamond Ltd. | Bermuda | 100% | ||||||
| Golden Feng Ltd. | Bermuda | 100% | ||||||
| Golden Ginger Ltd. | Bermuda | 100% | ||||||
| Golden Pearl Ltd. | Bermuda | 100% | ||||||
| Golden Rose Ltd. | Bermuda | 100% | ||||||
| Golden Ruby Ltd. | Bermuda | 100% | ||||||
| Golden Shui Ltd. | Bermuda | 100% | ||||||
| Golden KSL Seattle Ltd. | Bermuda | 100% | ||||||
| Golden KSL Sapporo Ltd. | Bermuda | 100% | ||||||
| Golden KSL Singapore Ltd. | Bermuda | 100% | ||||||
| Golden KSL Sydney Ltd. | Bermuda | 100% | ||||||
| Golden KSL Salvador Ltd. | Bermuda | 100% | ||||||
| Golden KSL San Francisco Ltd. | Bermuda | 100% | ||||||
| Golden KSL Seoul Ltd. | Bermuda | 100% | ||||||
| Golden KSL Stockholm Ltd. | Bermuda | 100% | ||||||
| Golden KSL Santiago Ltd. | Bermuda | 100% | ||||||
| Golden KSL Santos Ltd. | Bermuda | 100% | ||||||
| Golden Surabaya Ltd. | Bermuda | 100% | ||||||
| Golden Savannah Ltd. | Bermuda | 100% | ||||||
| Golden KSL Sakura Ltd. | Bermuda | 100% | ||||||
| Golden KSL Seville Ltd. | Bermuda | 100% | ||||||
| Golden Finsbury Ltd. | Bermuda | 100% | ||||||
| Golden Fulham Ltd. | Bermuda | 100% | ||||||
| Golden Bexley Ltd. | Bermuda | 100% | ||||||
| Golden Barnet Ltd. | Bermuda | 100% | ||||||
| Golden Scape Ltd. | Bermuda | 100% | ||||||
| Golden Swift Ltd. | Bermuda | 100% | ||||||
| Golden Kathrine Ltd. | Bermuda | 100% | ||||||
| Golden Aso Ltd. | Bermuda | 100% | ||||||
| Golden Cirrus Ltd. | Bermuda | 100% | ||||||
| Golden Cumulus Ltd. | Bermuda | 100% | ||||||
| Golden Nimbus Ltd. | Bermuda | 100% | ||||||
| Golden Arcus Ltd. | Bermuda | 100% | ||||||
| Golden Incus Ltd. | Bermuda | 100% | ||||||
| Golden Calvus Ltd. | Bermuda | 100% | ||||||
| Golden Gayle Ltd. | Bermuda | 100% | ||||||
| Golden Myrtalia Ltd. | Bermuda | 100% | ||||||
| Golden Sue Ltd. | Bermuda | 100% | ||||||
| Golden Deb Ltd. | Bermuda | 100% | ||||||
| Golden Jake Ltd. | Bermuda | 100% | ||||||
| Golden Arion Ltd. | Bermuda | 100% | ||||||
| Golden Ioanari Ltd. | Bermuda | 100% | ||||||
| Golden Keen Ltd. | Bermuda | 100% | ||||||
| Golden Kaki Ltd. | Bermuda | 100% | ||||||
| Golden Houston Ltd. | Bermuda | 100% | ||||||
| Golden Anastasia Ltd. | Bermuda | 100% | ||||||
| Golden Amreen Ltd. | Bermuda | 100% | ||||||
| Golden Kennedy Ltd. | Bermuda | 100% | ||||||
| Golden Amber Ltd. | Bermuda | 100% | ||||||
| Golden Opal Ltd. | Bermuda | 100% | ||||||
| Golden Behike Ltd. | Bermuda | 100% | ||||||
| Golden Monterrey Ltd. | Bermuda | 100% | ||||||
| Golden Champion Ltd. | Bermuda | 100% | ||||||
| Golden Comfort Ltd. | Bermuda | 100% | ||||||
| Golden Competence Ltd. | Bermuda | 100% | ||||||
| Golden Confidence Ltd. | Bermuda | 100% | ||||||
| Golden Coral Ltd. | Bermuda | 100% | ||||||
| Golden Courage Ltd. | Bermuda | 100% | ||||||
| Golden Fellow Ltd. | Bermuda | 100% | ||||||
| Golden Fortune Ltd. | Bermuda | 100% | ||||||
| Golden Forward Ltd. | Bermuda | 100% | ||||||
| Golden Freeze Ltd. | Bermuda | 100% | ||||||
| Golden Friend Ltd. | Bermuda | 100% | ||||||
| Golden Frost Ltd. | Bermuda | 100% | ||||||
| Golden Saint Ltd. | Bermuda | 100% | ||||||
| Golden Skies Ltd. | Bermuda | 100% | ||||||
| Golden Spirit Ltd. | Bermuda | 100% | ||||||
| Golden Lion Ltd. | Bermuda | 100% | ||||||
| Golden Hope Ltd. | Bermuda | 100% | ||||||
| Golden Grace Ltd. | Bermuda | 100% | ||||||
| Golden Star Ltd. | Bermuda | 100% | ||||||
| Golden Soul Ltd. | Bermuda | 100% | ||||||
| Golden John Ltd. | Bermuda | 100% | ||||||
| Golden Wave Ltd. | Bermuda | 100% | ||||||
| Golden Tide Ltd. | Bermuda | 100% | ||||||
| Golden Faith Ltd. | Bermuda | 100% | ||||||
| Golden Erling Ltd. | Bermuda | 100% | ||||||
| Golden Fast Ltd. | Bermuda | 100% | ||||||
| Golden Furious Ltd. | Bermuda | 100% | ||||||
| Golden Spray Ltd. | Bermuda | 100% | ||||||
| Golden Aquamarine Ltd. | Bermuda | 100% | ||||||
| Golden Earl Ltd. | Bermuda | 100% | ||||||
| Golden Duke Ltd. | Bermuda | 100% | ||||||
| Golden Walcott Ltd. | Bermuda | 100% | ||||||
| Golden Sapphire Ltd. | Bermuda | 100% | ||||||
| Golden Emerald Ltd. | Bermuda | 100% | ||||||
| Golden Shea Ltd. | Bermuda | 100% | ||||||
| Golden Ice Ltd. | Bermuda | 100% | ||||||
| Golden Eclipse Ltd. | Bermuda | 100% | ||||||
| Golden Endurer Ltd. | Bermuda | 100% | ||||||
| Golden Empress Ltd. | Bermuda | 100% | ||||||
| Golden Endeavour Ltd. | Bermuda | 100% | ||||||
| Golden Enterprise Ltd. | Bermuda | 100% | ||||||
| Golden Arima Ltd. | Bermuda | 100% | ||||||
| Golden Beppu Ltd. | Bermuda | 100% | ||||||
| KTL Mayfair Ltd. | Bermuda | 100% | ||||||