Seismic shift for Arne Blystad’s Songa Bulk

Seismic shift for Arne Blystad’s Songa Bulk

Arne Blystad’s Songa Bulk is merging with Houston-based seismic ship operator Axxis Geo Solutions (AGS) whereby AGS will take Songa Bulk’s place on the Oslo Axess. Blystad sold all Songa Bulk’s 15 ships last July to Star Bulk.

Under the proposed deal the shareholders of AGS will receive 1.4 shares of Songa Bulk per one share in AGS.

After the merger is complete, expected in a couple of months’ time, Songa Bulk will change name to Axxis Geo Solutions.

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.

Related Posts