Songa Bulk ASA has entered into an agreement to acquire a Kamsarmax bulk carrier built in 2010 at Sumitomo in Japan (81.466 dwt), the company said in its press release.
The vessel will be delivered during fourth quarter of 2017. Songa Bulk will establish a wholly owned subsidiary to take delivery of the vessel.
This brings the total fleet of Songa Bulk to 12 vessels and $217.225.000 has been invested so far. 10 vessels have been delivered while Songa Opus,(Capesize purchased in June) is expected to be delivered end of this month.
About Songa Bulk
Songa Bulk ASA, established by the Blystad Group and Herman Billung. Songa Bulk has low gearing, no legacy issues and a cost efficient operational platform. Songa Bulk 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.