Songa Bulk Adds Second-Hand Kamsarmax

Olso-listed bulker owner Songa Bulk ASA has entered into an agreement to acquire a Kamsarmax bulk carrier built in 2011 at Sanoyas in Japan.

The 83, 494-DWT vessel will be delivered during the fourth quarter of 2017, the company said.

The shipowner plans to establish a wholly owned subsidiary to take delivery of the vessel.

The latest purchase brings Songa Bulk’s total fleet to 13 vessels, which have cost USD 236.4 million so far.

These include 2 Capesizes, 8 Kamsarmaxes and 3 Supramaxes.

Earlier this week, Songa completed a tap issue of USD 45 million in its Senior Secured Callable Bond Issue, the net proceeds of which have been earmarked for the financing of additional bulker acquisitions.

The total nominal amount outstanding in the bond following the tap issue will be USD 120 million.

“The additional USD 45 million from the tap issue will let us continue to grow the fleet in line with our strategy. We still find the risk reward ratio attractive in the dry bulk space and we expect to add additional vessels to our fleet shortly,” Arne Blystad, Chairman of the Board of Directors of Songa, said commenting on the tap issue.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jun 2019 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

read more >

Electric & Hybrid Marine World Expo Conference 2019

Electric & Hybrid Marine World Expo Conference is the world’s only international conference…

read more >

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

Shipping Transformation Asia

Shipping Transformation Asia will provide a platform for future-focused discussion in the shipping,…

read more >