Regulatory Filings • Apr 12, 2017
Regulatory Filings
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Acquisition of Capesize bulker
Oslo, April 12, 2017 / Songa Bulk AS (Merkur: SBULK-ME)
(the "Company" or "Songa Bulk") is pleased to announce that
it has entered into an agreement to acquire one capesize
bulk carrier built 2009 at Hyuandai, Korea (179.150 dwt)
The vessel will be delivered to the Company by the end of July.
The Company will establish a wholly owned subsidiaries to take
delivery of the vessel.
This brings the total fleet of the Company to 10 vessels with a
total acquisition price $ 171,950,000
- 3 Supramaxes
- 6 Kamsarmaxes
- 1 Capesize
All the transactions completed so far, including the last addition,
are done on an all cash basis, but given the improved market
environment the Company is in positive dialogue with several banks
to take on moderate leverage.
Songa Bulk will continue its low cost efficient operational platform
with focus on returning capital to its shareholders through asset
sales and/or dividends as the market recovers.
Please see our webpage: www.songabulk.no
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