New dry bulk duo to raise millions for acquisitions

The new Norwegian dry bulk duo consisting of Arne Blystad and former Golden Ocean CEO Herman Billung has now kicked off its hunt for capital. At first the duo is looking to raise USD 50 - 100 million, Herman Billung tells ShippingWatch.

Herman Billung, former CEO of Golden Ocean. | Photo: PR/Golden Ocean

Yet another player is now about make a splash among the cash-strong dry bulk players looking to benefit from the low prices on second-hand vessels in the segment – and to do so before the market prospects become too bright.

We're trying to raise between USD 50  and 100 million through an issue that will expire on Thursday

Herman Billung, shipping investor and former CEO of Golden Ocean

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