Songa Bulk said today it is contemplating a tap issue with a target amount of $18m from a senior secured bond. The company said proceeds would go on additional dry bulk vessels.
Songa Bulk also revealed today it is in the process of disposing of one of its supramax vessels. When concluded the sales proceeds will be used for further vessel acquisitions.
Songa Bulk’s rapid fleet buildup now sees it with 15 ships to its name.