Expanding Songa Bulk is to tap an existing bond issue for another $45m.
The Oslo-listed owner, backed by Arne Blystad, will extract more cash from its series due in 2022.
It has $75m outstanding on the bond, and can raise up to $150m.
"If concluded, the net proceeds from the contemplated tap issue will be used to finance acquisition of additional dry bulk vessels," it said.
