‘Dry bulk asset values still attractive’: Arne Blystad

‘Dry bulk asset values still attractive’: Arne Blystad

Songa Bulk, the Norwegian vehicle launched last year, has bagged its fifth ship.

Songa Bulk, owned by Arne Blystad and run by Herman Billung, has bought the six-year-old, Korean-built kamsarmax Flama for $14.8m. The ship was previously owned by Turkey’s Cerba Denizcilik.

Songa’s chairman Blystad commented: “We are pleased that the company is able to identify carefully selected candidates and carry out transactions within the parameters of the company’s strategy. We continue to find asset values attractive in this part of the cycle whilst maintaining a selective approach to the assets we target.”

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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