Fjord Defence Group ASA - Capital/Financing Update 2017

Acquisition of Kamsarmax Bulker

Oslo, August 7, 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 2010 at Sumitomo in Japan (81.466 dwt)

The vessel will be delivered during fourth quarter of 2017.The

Company will establish a wholly owned subsidiary to take delivery of

the vessel.

This brings the total fleet of the Company to 12 vessels and

$217.225.000 has been invested so far. 10 vessels have been

delivered while Songa Opus,(Capesize purchased in June) is expected

to be delivered end of this month.

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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