Oslo, September 20 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 2012 at Tsuneishi in Japan (82,188 dwt)
The vessel will be delivered in October 2017. The Company will establish a wholly owned subsidiary to take delivery of the vessel.
This brings the total fleet of the Company to 15 vessels and $279,675,000 has 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.
Songa Bulk press release