Oslo, March. 31, 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 one kamsarmax
bulk carrier built 2012 at Tsuneishi Japan (82,158 dwt) and one
ultramax bulk carrier built 2017 at DACKS, China (61,491 dwt). The
vessels have been acquired at an aggregate sum of USD 43.35 million.
Both vessels will be delivered to the Company by the end of April.
The Company will establish wholly owned subsidiaries to take
delivery of the vessels.
This brings the total fleet of the Company to 9 vessels.
All the transactions completed so far, including the two last
additions, are done on an all cash basis, but given the improved
market environment the Company will consider to take on moderate
leverage going forward.
Songa Bulk will continue its low cost efficient operational platform
with focus on returning capital to its shareholders through asset
sales and/or dividends as the market recovers.
Please see our webpage: www.songabulk.no