Oldendorff Carriers has agreed a deal to sell 6 of the Company’s Ultramaxes to China Development Bank Leasing (CDBL) with floating bareboat charter back:

Oldendorff Carriers: Ultramax sale takes cooperation with CDBL to 25 ships

Oldendorff Carriers is taking all ships back on a floating rate, index-based bareboat charter for 5 + 2 + 1 years. The deal is not a sale and leaseback transaction and there are also no re-purchase obligations involved. The ships will be delivered to CDBL between 8th December 2020 and 6th February 2021.

Oldendorff previous deals with CDBL have involved the sale of 13 second hand Ultramaxes with floating T/C back and 4 Kamsarmax newbuildings with floating B/B back. Furthermore, the Company has chartered two CDBL owned Newcastlemax newbuildings, which were delivered from Cosco Yangzhou Shipyard in April and May 2020.

The above sale of 6 Ultras means that Oldendorff now has done 25 transactions with CDBL.

Source: Oldendorff