Songa Bulk continues rapid fleet growth with cape purchase

Songa Bulk continues rapid fleet growth with cape purchase

Having already acquired two vessels this month, a 2012-built kamsarmax and newbuild ultrmax, Arne Blystad’s Songa Bulk has acquired a 2009-built secondhand capesize.

Songa Bulk is expecting to take delivery of the South Korean-built vessel by the end of July.

The company now has a total of 10 vessels in its fleet made up of 3 supramaxes, 6 kamsarmaxes and a single capesize.

While all the transactions, $170m worth, have been completed on a cash basis, Songa Bulk said it is in dialogue with banks to take on moderate leverage.

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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