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.”