Oslo, August 25 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 Kamsarmax
bulk carrier built in 2014 at Tsuneishi in Japan (81,918 dwt)
The vessel will be delivered in September 2017. The
Company will establish a wholly owned subsidiary to take delivery of
This brings the total fleet of the Company to 14 vessels and
$259,175,000 have been invested so far.
The Company is pleased with the composition of its fleet of modern
vessels built at reputable yards.
About Songa Bulk
Songa Bulk ASA (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