Oslo, June. 14, 2017 / Songa Bulk ASA (Oslo Axess: SBULK)
(the "Company" or "Songa Bulk") is pleased to announce that
it has entered into an agreement to acquire a Capesize
bulk carrier built in 2010 at STX in Korea (180,706 dwt) The vessel
has been acquired at price of USD 28.85 million.
The vessel will be delivered during third quarter of 2017.The
Company will establish a wholly owned subsidiary to take delivery of
About Songa Bulk
Songa Bulk AS (the "Company"), established by the Blystad
Group and Herman Billung. The Company has low gearing, no legacy
issues and a cost efficient operational platform. The
Company seeks to actively manage the cyclicality of the
drybulk market by investing at historically low levels,
focus on returning capital to shareholders through asset
sales and/or dividends as the market recovers.
Please see our webpage: www.songabulk.no