Arne Blystad’s Songa Bulk is looking to raise more cash to continue its acquisition efforts.
Songa today launched a $50m private placement hot on the heels of purchasing its fifth vessel.
Having first listed on Oslo’s over the counter market late last year, Songa is once again working with Fearnley Securities and Clarksons Platou Securities on the latest fundraiser.
Songa has amassed a fleet of five vessels following the purchase of the 80,000-dwt Flama (built 2011) for $14.8m.
