Oldendorff Sells 13 Bulk Carriers Under Construction To Bank Of China Leasing

- Apr 26, 2018-

According to trade news, German shipowner Oldendorff is in talks with Bank of China Financial Leasing to negotiate a sale and leaseback agreement totaling 310 million U.S. dollars (about 1.957 billion yuan). Ship brokers who understand the progress of the negotiations stated that these ships are modern bulk carriers that have not yet been delivered. It is said that this transaction was approved by the board of directors of the Bank of China Financial Leasing in mid-May, but Oldendorff's chairman Henning Oldendorff denied the rumor. pipe fittings


It is reported that the deal included 13 Ultramax bulk carriers, of which 8 were built at the Chinese shipyard, 3 were built at the joint venture Nantong COSCO Kawasaki Shipbuilding Co., Ltd., and the other two were built at Imago Shipbuilding. welding overlay flanges


Oldendorff is very active in the second-hand ship and charter market recently and is one of the most aggressive buyers in the bulk carrier market. In February of this year, Oldendorff signed a time charter agreement with nearly 30 super-shock bulk carriers and Handysize bulk carriers, setting off a noticeable boom in the time charter market.

According to reports, Oldendorff is optimistic about the prospects of bulk carriers. At the end of last year, it purchased four 119,000 dwt bulk carriers from German ship owner Hartmann Reederei, including the transaction. The company has acquired a total of 97 vessels of about 10 million dwt in the past five years. The acquired ships are delivered between 2013 and 2020. WN Flange


According to industry insiders familiar with Oldendorff, as before, Oldendorff may use the proceeds from the sale of 13 ships to invest in the fleet. “Oldendorff hopes to make quick money by selling the cheap ships it acquired last year. During the active period of the market, savings capacity is to boost prices.”

At present, the Oldendorff company's fleet of ships has 700 bulk carriers, of which 176 are self-owned vessels or vessels leased by bareboat.