Dry bulk shipping firm Golden Ocean reported a larger-than-expected third-quarter loss and said the market would remain difficult for the next six to twelve months. Golden Ocean, controlled by shipping tycoon John "Big Wolf" Fredriksen, said it made a net loss of $40.7 million in the third quarter, lagging expectations for a loss of $19 million in a Reuters poll of analysts. Slower coal and iron ore demand from China - the world's biggest industrial importer - have battered the dry bulk sector, already in the midst of its worst ever downturn.