Songa Bulk raise more cash to fund asset play

Arne Blystad led Songa Bulk is looking to raise more cash $50 million to continue its acquisition efforts in order to fund asset play. In 2016, Arne Blystad led Songa Bulk was listed in Norway Oslo OTC (Over The Counter) market and currently working with Fearnley Securities and Clarksons Platou Securities to raise funds. Up to now, Arne Blystad led Songa Bulk has now spent around $66 million on dry bulk carriers which price tags are attractive. Norwegian Songa Bulk has a fleet of five dry bulk carriers after the purchase of the panamax dry bulk carrier 2011 built 80K DWT M/V Flama for $14 million.