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 the 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 subsequently 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) new-buildings.
US investor Evermore Global Advisors has a stake of more than 10% in Norwegian dry bulk carrier owner and operator Songa Bulk. US investor Evermore Global Advisors is also a major stakeholder in Scorpio Bulkers. CEO Herman Billung of Songa Bulk’s 3.608 million shares are controlled by US investor Evermore Global Advisors’ sister company Evermore Global Value Fund. In February 2017, Evermore Global invested a $100 million equity issue. Norwegian dry bulk carrier owner and operator Songa Bulk continues to increase fleet size with 11 ships. Morgan Stanley, Apollo Global, and UBS are also the biggest investors of Songa Bulk.
Norwegian shipowner and operator Songa Bulk which is led by Arne Blystad, has raised $75 million to expand its fleet of bulk carriers after successfully completing a bond issue. There was a strong demand from “high-quality investors” for Songa Bulk’s bond issue with the maturity date is June 2022. $75 million will be used to finance to buy more dry bulk carriers. Norwegian shipowner and operator Songa Bulk has already bought 10 dry bulk carriers.
Norwegian Arne Blystad led Songa Bulk is planning to raise more money for further dry bulk carrier purchases. Songa Bulk is planning a deal to sell 5-year bonds. Norwegian Arne Blystad is arranging a series of investor meetings about fixed-income debt and then issue a bond and use the proceeds to finance the acquisition of additional dry bulk carriers. Currently, Songa Bulk has grown a fleet of 10 dry bulk carriers.
Norwegian shipowner and operator Songa Bulk bought 2009 Korean built capesize dry bulk carrier 179K DWT M/V Mount Meru from Eastern Pacific Shipping for $28 million. In October 2016, Eastern Pacific Shipping bought M/V Mount Meru (ex M/V Hanjin Cape Lambert) for $19 million.
CEO Herman Billungled shipowner and operator Songa Bulk is trying to enter capesize market. Arne Blystad’s Songa Bulk will try to beyond supramax dry bulk carrier market. CEO Herman Billung was formerly managing John Fredriksen’s Golden Ocean Group and joined Songa Bulk. Songa Bulk is interested in buying capesize dry bulk carrier 2012 built 180K DWT M/V Pacific Canopus for $28.5 million. Last month, Pacific International Lines (PIL) sold sistership capesize dry bulk carrier M/V Pacific Capella for $27 million. Currently, CEO Herman Billungled shipowner and operator Songa Bulk has 9 dry bulk carriers in the fleet.
Arne Blystad-led Songa Bulk bought a kamsaramax and ultramax for $43.35 million. After the delivery of the latest dry bulk carriers Songa Bulk fleet will be compromised of 9 ships. Up to now, Arne Blystad-led Songa Bulk accomplished all its transactions cash basis but Songa Bulk is now considering shareholders through asset sales or dividends.
17 potential shipowners are inspecting 6 Hanjin Shipping’s dry bulk carriers which are being sold by Korea Development Bank (KDB). Bankrupted South Korean shipowner and operator Hanjin Shipping’s dry bulk carriers are sold via Clarksons Shipping. South Korean shipowner and operator Pan Ocean and Songa Bulk has already bought dry bulk kamsarmaxes. Kamsarmaxes left for sale are 82K DWT M/V Hanjin Paradip, M/V Hanjin Rosario, M/V Hanjin Port Kamsar (built 2012) which are around $20 million each. Korea Development Bank (KDB) also selling capesize dry bulk carriers 179K DWT M/V Hanjin Dangjin, M/V Hanjin Esperance, and M/V Hanjin Rizhao.
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.
Hermann Billung controlled shipowner and operator Songa Bulk bought 2011 built kamsarmax 80K DWT M/V Flama. Including M/V Flama, Songa Bulk expanded the fleet to five dry bulk carriers. Songa Bulk bought 2011 Korea built kamsarmax 80K DWT M/V Flama for $14.8 million and renamed M/V Songa Flama. In January 2017, shipowner and operator Songa Bulk bought 2010 Korea built panamax dry bulk carrier 81K DWT M/V Maverick Genesis at auction for $13 million.
Norwagian shipowner and operator Arne Blystad’s Songa Bulk is looking to upgrade its Oslo OTC (over the counter) listing. Arne Blystad’s Songa Bulk has filed to join the Merkur Market in Oslo, Norway. Oslo Stock Exchange was launching a new market with growth-oriented shipping and offshore companies.
Arne Blystad led Songa Bulk bought 2 modern supramax dry bulk carriers. Chinese 2009 built supramax dry bulk carrier 58K DWT M/V Songa Marlin for $11.85 million and Chinese 2012 built supramax dry bulk carrier M/V Songa Glory for $14.85 million. M/V Songa Marlin and M/V Songa Glory will be Norwegian shipowner and operator Songa Bulker’s second and third acquisitions.
Copenhagen based shipowner and operator Torm remains ready to launch a New York initial public offering (IPO) when the freight and capital markets align. Danish shipowner and operator Torm ready for a US listing to add to its position on the Nasdaq Copenhagen for more than a year. Marc Saverys-backed acquisition vehicle Hunter Maritime Acquisition priced its IPO in New York and shortly after Arne Blystad’s Songa Bulk completed the first Oslo over-the-counter (OTC) offering in two years. Copenhagen based shipowner and operator Torm heading to the US capital markets when the freight market is more conducive.
John Fredriksen’s Golden Ocean ex CEO Herman Billung returns to shipping with another high-profile Norwegian shipowner Arne Blystad’s Songa Bulk. Norwegian shipowner Arne Blystad planning to rebuild his position in the dry bulk market with Songa Bulk which is acquiring tonnage. Norwegian shipowner Arne Blystad reunited with a former colleague from Klaveness Per Kristian Aamlid who is going to handle chartering of the Songa Bulk fleet. Norwegian shipowner Arne Blystad ten years ago had more than 30 dry bulk carriers on order but sold all the contracts before the 2008 dry bulk market crash.