Oldendorff Fleet Expansion Continues With 8 Acquisitions

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Oldendorff reported on Friday that they are continuing their fleet expansion by adding 8 more vessels to Company’s owned fleet. The acquisition included 3 Babycapes and 5 Post-panamax bulk carriers:

119,000 tdw, built 2011 – “UBC Onsan
119,000 tdw, built 2011 – “UBC Ohio
115,000 tdw, built 2012 – “Emma Schulte
96,000 tdw, built 2013 – “Oriental Angel
93,000 tdw, built 2012 – “Tonic Sea
93,000 tdw, built 2011 – “Tana Sea”
93,000 tdw, built 2011 – “Tango Sea
93,000 tdw, built 2011 – “Tonda Sea

Bulk Carrier UBC Onsan - Image courtesy: Ian Greenwood

In the Babycape segment, Oldendorff's London office usually operates around 30 vessels in their global network of trades. The company informed that they like to have some owned vessels in every segment in which they operate to ensure the can provide their customers with the most reliable and flexible service.

The Babycape vessels were purchased from companies managed by Hartmann Reederei (Leer) and Thomas Schulte (Hamburg) they join three other Babycapes in Oldendorff’s fleet which we bought in the summer. The 119,000 tonners were built at Sinopacific, China and feature an attractive cargo intake at 14.5 m draft, “Mewis” fuel saving ducts, ballast water treatment systems, as well as Korean built B&W main engines and auxiliary engines. The “Emma Schulte” delivered from Jiangnan, China in 2012. The three vessels have all completed their first Special Survey.


Bulk Carrier Emma Schulte - Image courtesy: captom

The “Nexter-95” type “Oriental Angel” was constructed in 2013 at Imabari and was bought from Japanese owners, whereas the other 4 Post-panamaxes were acquired from companies managed by NSC Holding (Hamburg). They were built at Taizhou Kouan Shipyard and Yangfan Shipyard in China, and feature Korean-built Hyundai-B&W main engines and auxiliaries. These four ships have also completed their first 5 year docking and will be taken over in the Atlantic within the next 6 weeks.

This means that over the last 12 months, Oldendorff has purchased 17 secondhand and resale bulk carriers for delivery between early 2016 and early 2017 at historically attractive prices.

In parallel, Company’s newbuilding program will see the delivery of the 2nd Qingshan 63,500 tdw Ultramax vessel “Imme Oldendorff” later this month. In total Oldendorff will have taken delivery of 13 “eco” newbuilding vessels during this calendar year. The average age of Company’s fleet is reducing and Oldendorff is operating a more fuel efficient and environmentally friendly fleet.

Source: Oldendorff