Songa Bulk Buys Vessel Duo for USD 43.3 Mn

Norwegian shipowner Songa Bulk has entered into agreements to acquire two bulk carriers for a total of USD 43.35 million.

The vessels in question are an 82,158 dwt Kamsarmax bulk carrier, built in 2012 at Tsuneishi Japan, and a 61,491 dwt Ultramax bulker, constructed in 2017 at China’s Dalian COSCO KHI Ship Engineering Co (DACKS).

Songa Bulk said that both vessels are scheduled to join its fleet by the end of April, bringing the company’s total fleet to nine vessels.

Additionally, the company said that it plans to establish subsidiaries to take delivery of the bulkers.

“All the transactions completed so far, including the two last additions, are done on an all cash basis, but given the improved market environment the company will consider to take on moderate leverage going forward,” Songa Bulk informed.