Oslo, March. 24, 2017 / Songa Bulk AS (Merkur: SBULK-ME)
(the "Company" or "Songa Bulk") is pleased to announce that
it has entered into an agreement to acquire two kamsarmax
bulk carriers built in 2008 at Tsuneishi Japan (82,107 dwt) and
2011 at Hyundai Samho Korea (81,502 dwt). The vessels have been
acquired at an aggregate sum of USD 32.85 million.
The 2011 built vessel will delivered by mid May and the 2008 built
vessel within the end of September. The 2011 built vessel has a
charter party attached with a duration until end November 2017 at
USD 8,075 per day net.
The Company will establish wholly owned subsidiaries to take
delivery of the vessels.
This brings the total fleet of the Company to seven vessels. Two
Supramaxes with an average age of 6.5 years and with an average
acquisition price of MUSD 13.35 million, and five Kamsarmaxes with
an average age of 7.5 years and an average acquisition price of MUSD
14.38 million.
Further the Company has chartered out Songa Flama for a one year
time charter period commencing upon delivery of the vessel in early
April, at USD 9,880 per day net.
About Songa Bulk
Songa Bulk AS (the "Company"), established by the Blystad
Group and Herman Billung. The Company has no debt, 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 new webpage: www.songabulk.no