Oldendorff Agrees Eight Acquisitions in Two Months

  • Business & Finance

Germany-based shipowner and operator Oldendorff Carriers confirmed that it purchased a total of eight vessels since August 2016.

Namely, the company said that it bought 3 Babycapes and 5 Post Panamax bulk carriers to supplement its owned fleet.

The company’s latest purchase includes the 2011-built Post Panamax bulk carriers UBC Onsan and UBC Ohio. Bought from Oldendorff’s compatriot shipping firm Hartmann Reederei, the vessels, which were built by China’s Dayang Shipbuilding Co., feature 119,000 dwt.

In September, the company splashed some USD 38 million for four Post Panamax dry bulk carriers when it agreed to buy the 2011- and 2012-built ships from German shipping company NSC Schifffahrtsgesellschaft. The 93,000 dwt Tonic Sea, Tana Sea, Tango Sea, and Tonda Sea were sold for USD 9.5 million each.

During the same month, Oldendorff bought another second-hand Post Panamax bulker, namely Emma Schulte, for a price of USD 12.6 million.

In August, the shipowner acquired the 95,000 dwt Post Panamax bulker Oriental Angel for USD 16.4 million, according to data provided by VesselsValue.

“Over the last 12 months, we have purchased 17 second hand and resale bulk carriers for delivery between early 2016 and early 2017 at historically attractive prices,” Oldendorff said.

The company added that its newbuilding program will see the delivery of the second Qingshan 63,500 dwt Ultramax vessel Imme Oldendorff later this month.

“In total we will have taken delivery of 13 eco newbuilding vessels during this calendar year. The average age of our fleet is reducing and we are operating a more fuel efficient and environmentally friendly fleet,” according to Oldendorff.

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