Fjord Defence Group ASA - Capital/Financing Update 2017

Acquisition of Kamsarmax Bulker

Oslo, September 20 2017 / Songa Bulk ASA (Oslo Axess: SBULK)

(the "Company" or "Songa Bulk") is pleased to announce that

it has entered into an agreement to acquire a Kamsarmax

bulk carrier built in 2012 at Tsuneishi in Japan (82,188 dwt)

The vessel will be delivered in October 2017. The

Company will establish a wholly owned subsidiary to take delivery of

the vessel.

This brings the total fleet of the Company to 15 vessels and

$279,675,000 has been invested so far.

The Company is pleased with the composition of its fleet of modern

vessels built at reputable yards.

About Songa Bulk

Songa Bulk ASA (the "Company"), established by the Blystad

Group and Herman Billung. The Company has low gearing, no legacy

issues and a cost efficient operational platform. The

Company seeks to actively manage the cyclicality of the

drybulk market by investing at historically low levels,

focus on returning capital to shareholders through asset

sales and/or dividends as the market recovers.

Please see our webpage: www.songabulk.no

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