Blystad in for supramax pair

Blystad in for supramax pair

Arne Blystad is off and running in his bid to become a serious bulker buyer. The Norwegian tycoon’s new dry bulk outfit Songa Bulk has confirmed a deal for the Kambara Kisen controlled supramax Tenki Maru. The 58,693 dwt supramax, built in 2009 at Tsuneishi Zhoushan in China, will be renamed Songa Marlin and is costing $11.85m.

Songa Bulk is also acquiring a 2012-built supramax, to be named Equinox Glory, from Greek dry bulk specialist Equinox Maritime for $14.85m.

Equinox will continue technical management of the ship, and invest $5m of the sale proceeds in a private placement of Songa Bulk shares. Equinox’s Ghikas J. Goumas will subsequently be elected to the board of Song Bulk.

Herman Billung, CEO of Songa Bulk, commented: “Songa Bulk have now concluded two additional acquisitions after the closing of our private placement. We are pleased to start delivering on our promise to investors that we shall build the company, at what we consider a very attractive entry point in the cycle, by acquiring quality ships at the right price. We will continue to seek further investment opportunities which we consider attractive. We are pleased to welcome a new shareholder and Mr. Goumas part of our Board.”

Blystad, who took on ex-Golden Ocean boss Billung five months ago to spearhead a dry bulk attack, is chasing secondhand supramaxes and kamsarmaxes and has built up a $100m warchest for swift acquisitions. It currently owns a single 2008-built Kamsarmax bulk carrier.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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