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Herman Billung, CEO, Songa Bulk.
Photo: PR/Golden Ocean

Songa Bulk raises millions to buy vessels

Bulk:

Songa Bulk, controlled by Arne Blystad and Herman Billung, has issued a bond loan for USD 75 million. The capital will be used to further grow the firm's fleet of dry bulk vessels.


BY DANIEL LOGAN BERG-MUNCH
Published 31.05.17 at 09:36

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Most read Bulk

"An industry downturn is exactly what we need"

Herman Billung.jpg Bulk:

The dry bulk carriers, sore after several tough years, are becoming increasingly optimistic about the future. But Herman Billung, who recently established dry bulk investor Songa Bulk, praises the slowdown in the sector. "Another six months and we'll be home free," he says.

New dry bulk company works solely for Noble Chartering

Bulk:

Atlantic Chartering Services just opened its doors in Copenhagen. The company's only customer is Noble Chartering, and ACS will handle the dry bulk company's growing business on the Atlantic.

Former Lightship partner joins Maersk Broker

Bulk:

Frank Mortensen, former CEO and partner at brokers Lightship Chartering, has joined Maersk Broker as part of the company's current dry bulk build-up, most recently in the Middle East and Africa, which from May 1st will be headed by Anders Højmose Pedersen in Dubai.

Dry bulk terminals fail test of high-risk cargoes

Bulk:

The current methods for testing whether a dangerous cargo is at risk of liquefaction during sailing are inadequate and should be changed, says the Association of Bulk Terminal Operators, citing various samples of cargoes which have become liquefied despite passing tests.

Oldendorff continues aggressive fleet expansion

Bulk:

While many dry bulk carriers are struggling severely with their finances, the Lübeck-based family-owned carrier Oldendorff continues its massive fleet expansion. Market observers are puzzled by the development. Read on to learn how many ships the fleet now covers.

Oldendorff Carriers remains in the black in 2014 and 2015

Bulk:

ShippingWatch interviews chairman Henning Oldendorff on how one of the world´s largest drybulk operators avoids deficits operating in an industry where even solid competitors are struggling.

Current front page

MPC Container Ships could reach 50 vessels this year

BCO_quer_Print12.jpg Container:

Newly-established container carrier MPC Container Ships plans to have 35 to 50 feeder vessels within a year. "This would be a good starting point for us," the CEO of the Oslo-based company tells ShippingWatch.

Norway's new major carrier dubbed a "risky venture"

Offshore:

Two of Norway's biggest figures in shipping, Kjell Inge Røkke and John Fredriksen, are behind Norway's new offshore carrier Solstad Farstad which will become the country's largest carrier. "It's a tough market out there," CEO Lars Peder Solstad tells ShippingWatch.

Dry bulk terminals fail test of high-risk cargoes

Bulk:

The current methods for testing whether a dangerous cargo is at risk of liquefaction during sailing are inadequate and should be changed, says the Association of Bulk Terminal Operators, citing various samples of cargoes which have become liquefied despite passing tests.

OPEC has few escape routes from another bear market in oil

Offshore:

OPEC has few remaining tools left to boost prices, after investors seem unmoved by the decision to prolong supply cuts.

Spanish shipbreaker: EU list has increased interest in us

Offshore:

The EU list of yards which are allowed to dismantle European vessels has led to greater interest in Spanish shipbreaker DDR Vessels, says CEO. However, there are still many carriers trying to circumvent the rules.

This week's top stories on ShippingWatch

Carriers:

APM Terminals lays off 160 in Gothenburg in a move to end the protracted port labor conflift. Shipowners look to postpone the ballast water convention by two years. Shippers worry about a shortage of reefer containers. Oil is headed for USD 40. Here are this weeks top picks.

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