Norway: Billung and Blystad to form a new shipping company

28.10.2016

Norway: Billung and Blystad to form a new shipping company
E24.no, 28 Oct 2016, online:-
Norwegian investors Herman Billung and Arne Blystad will form a new shipping company. Up to USD 100mn (EUR 91.78mn) will be invested to acquire dry cargo vessels. Marketing conditions provide the opportunity for this. Per Kristian Aamlid will also be one of the investors. The new company, Songa Bulk, is planned to be OTC listed and introduced for new share issue. The ships are planned to be operated for twelve months and sold after that, when shipping rates have increased.
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