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Oldendorff to receive an additional 21 eco bulk carriers by mid-2020

Published by , Assistant Editor
Dry Bulk,

German dry bulk shipping company Oldendorff carriers has increased its orderbook after the recent declaration of two Kamsarmax newbuilding options. Between end 2018 and mid-2020, the leading dry bulk shipping company is to receive another 21 eco bulk carrier newbuildings from yards in Japan and China, which were mostly ordered between 2015 and 2017 at historically attractive prices.

OSHIMA Shipbuilding is to deliver two 100 000 DWT post-panamaxes and three 62 000 DWT ultramaxes during the first half of 2020. The Oshima designs are setting new benchmarks in terms of low fuel consumption.

 HANTONG Ship Heavy Industry will build seven 82 000 DWT ‘Sdari’ design Kamsarmaxes between 2019 and spring 2020, two of which will have ice class 1c. The series will feature “MAN-B&W” engines imported from Korea, “Yanmar” auxiliary engines imported from Japan and optimised “Nakashima” propellers. The latest two ships at Hantong were options, which were declared earlier this month. Ten vessels were ordered at Hantong, but three ships were later resold to other owners. 

 NACKS (Cosco / Kawasaki JV yard in Nantong) and DACKS (the sister yard in Dalian) will build 6 x 61 000 DWT Ultramax bulk carriers for us to a high specification, which will all deliver next year. Finally, the company are to receive three 36 000 - 38 000 DWT Handysize vessels from two Chinese yards in 2018 and 2019. 

 Last month, the company agreed to sell 13 Ultramax vessels for delivery until September 2018 to an Asian buyer with two years time charter back, based on a floating rate structure. The package contains eight 63 500 DWT bulk carriers built at Qingshan and Yangzijiang (built 2015 – 2018) and five 61 000 DWT ultramaxes built at Imabari and NACKS (all built in 2014).    

 Overall, Oldendorff has now bought or ordered 137 vessels for takeover between 2013 and 2020, of which in the meantime 47 ships were sold on and nine older acquisitions were also sold in the same period. This means, that for delivery between 2013 and 2020, their S&P desk has entered into 193 transactions (acquisitions and sales).

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