Arne Blystad has sold a stake equivalent to 2% of Norway based Songa Bulk’s share capital since 20 December 2018. Norwegian shipowner Arne Blystad has indirectly reduced his shareholding in Star Bulk by selling a further 6.5% of his shareholding in Songa Bulk ASA for just over $48,648. Norway based Songa Bulk was merged into New York listed Star Bulk in 2018, but Songa Bulk continues to exist as the merged entity’s fifth largest shareholder. In January 2019, 610,518 shares of Star Bulk were sold by Blystad-controlled companies Songa Trading Inc, Songa Bulk Chartering and Agmably. According to Oslo Stock Exchange filing, securities were sold on the Oslo Stock Exchange for an average price of NOK 0.6812 each by Arne Blystad. Norwegian Arne Blystad and his co-investors subsquently own 8,731,602 Songa Bulk shares, equivalent to 24.35% of the company. In January 2019, Arne Blystad has sold off a stake equivalent to 2% of Songa Bulk’s total outstanding share capital over two transactions. On 20 December 2018, Arne Blystad’s companies AKB and JJB sold a total of 25,000 shares at a price of NOK 0.15 per share. Furthermore, on 20 December 2018, Songa Bulk’s CEO and CFO, Thomas Ronningen, sold 100% of his shareholding which is a total of 3,500 shares at a price of NOK 0.30 each. On Oslo Stock Exchange, Songa Bulk’s share price closed at NOK 0.58.Songa Bulk completed a merger with Petros Pappas’ Star Bulk in July 2018. Arne Blystad has become a director of Star Bulk and former Songa Bulk CEO Herman Billung has joined its management team. Merger with Songa Bulk has provided Star Bulk with dual listings on the Nasdaq and Oslo Stock Exchanges. In 2018, Star Bulk and Songa Bulk merger has boosted fleet to 98 bulk carriers plus three (3) newbuildings.