Oldendorff Carriers Revives Contract for Handysize Pair at Samnjin

Image Courtesy: Oldendorff Carriers

Oldendorff Carriers has renewed two newbuilding contracts, which were concluded originally in June 2012 with Weihai-based Samnjin Shipbuilding Ind. (SSI).

The initial order, comprising four 36,000 DWT Handysize newbuildings of the FESDEC-36k eco type, was canceled in 2014 and 2015 after excessive delays as the shipbuilder entered financial restructuring.

The shipyard was Korean-owned at the time but had to resort to restructuring amid problems with its Korean parent. Samjin was acquired last year by the diversified Shanghai Zhouji Group.

Oldendorff said that it has received back its downpayments for the newbuildings and that roughly 50% of the building blocks were completed at that time and well-protected.

As stipulated under the new contracts signed on August 2nd, 2017, the two ships are scheduled for delivery in the autumn of  2018 and January 2019.

In addition, the company said that it has secured time-charter contracts for both ships with an unnamed trading house for 4 – 5 years.

“We know, that the yard is again building excellent quality vessels, last year we observed the quality and enjoyed a good working relationship with the yard when we bought 58,000 DWT Frederike Oldendorff as a resale from the yard,” the company said.

The new vessels feature 4 x 35 tons Mitsubishi cranes, a Wärtsilä / WinGD main engine, MAN-B&W auxiliary engines, and cargo holds of 47,500 cbm.

In the last 5 years, the company has invested more than USD 2.25 billion in 89 vessels, including 22 Capesizes (incl Newcastlemaxes and Baby Capes), 22 Panamaxes, 22 Ultramaxes and Supramaxes and 22 Handies, plus one transshipment platform.

“We have focused on large capacity ships, which are best suited for our trades, made up of either eco newbuildings or resales typically around 5-year-old, well-equipped second-hand ships,” Oldendorff added.

The company’s fleet is made up of over 600 bulkers, with typically between 50 and 100 vessels of all sizes on floating charter TC or BB contracts.

 

Share this article

Follow World Maritime News

In Depth>

Events>

<< Nov 2017 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3

Maritime Information Warfare 2017

Maritime Information Warfare will focus on the growing need for navies to develop their information exploitation capabilities…

read more >

INTERNATIONAL GREEN SHIPPING AND TECHNOLOGY SUMMIT

The Summit will gather key marine experts and companies around the globe which have a big influence in the industry…

read more >

The CWC 18th Annual World LNG Summit & Awards Evening

The CWC World LNG Summit will continue to give you access to premium networking opportunities as it brings together the who’s who…

read more >

Marintec China 2017

The largest maritime event in Asia Pacific, Marintec China connects maritime professionals from the entire shipbuilding supply chain together.

Over the years, Marintec China has grown to reflect the size and importance of the Asian maritime market. 2015 event is another record-breaking edition with the largest exhibition area and the highest number of industry professionals attending ever. The encouraging figures proven that China remains one of the major shipbuilding nations and Marintec China has been the most authoritative platform in Asia.

With the maritime industry facing great opportunities but also many challenges, it is important for the industry to connect and engage more to ultimately win new business in globally-significant markets. A visit to Marintec China is a great way to learn about the latest technology and innovation of the supply industry, a platform for industry professional to meet face to face, make connection and do business.

Marintec China is poised to be the definitive event and is undoubtedly a must-attend for all involved in the maritime industry.

Marintec China will be held from 5 to 8 December 2017 at the Shanghai New International Expo Centre in Shanghai, China and continue its dedication to serve as the “LEADING” platform “CONNECTING” the community and “STRENGTHENING” the maritime industry.

Marintec China offers the perfect opportunity for companies serving the maritime market to showcase their innovations, products and services to a wide audience. A platform for face to face meetings in business, creating new relationships and consolidating existing ones.

More info

read more >