Songa Bulk confirms kamsarmax purchase

Songa Bulk confirms kamsarmax purchase

As reported by Splash earlier this week, Arne Blystad’s Songa Bulk has acquired 2010-built kamrsarmax Maverick Genesis via auction in South Korea.

Songa Bulk paid 13.15m for the vessel, and will rename it Songa Genesis.

The vessel is expected to be delivered in March 2017, and is the fourth acquisition by the firm which was set up in October 2016. It has a warchest of $100m to snap up secondhand supramaxes and kamsarmaxes.

In a statement today, Songa Bulk said its chartering strategy remains to secure medium term time charters to reputable charterers.

“Songa Bulk is now well underway to deliver in accordance with the strategy presented in prospectus prior equity raise. We are pleased with the Company’s ability to identify interesting investment opportunities not necessarily wide spread in the market place. We will continue to seek further investment opportunities we consider to be attractive,” Blystad said.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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