LONDON (Bloomberg) — Bermuda-based Golden Ocean Group Ltd., the commodity shipping line led by Norwegian billionaire John Fredriksen, expects to conclude restructuring talks "shortly" with lending banks, creditors and shipyards.

"Management believes that a global solution concluding and uniting these agreements can be reached shortly," Golden Ocean said yesterday in a statement distributed via Hugin. They should include an equity "injection" and debt reduction, creating a "financially strong" business, it said.

Golden Ocean said in February it risked running out of cash in March after prices for shipping coal, ore and grain collapsed last year, causing at least five owners to seek bankruptcy protection from creditors and others to breach loan terms.

The shipper said March 24 its "liquidity situation" was "challenging" because of non-compliance with some loan agreements.