Oldendorff Carriers Boost Ties with Chinese Firms

Oldendorff CarriersIllustration; Source: Flickr – under the CC BY-SA 2.0 license; Image by: Kees Torn

Germany-based dry bulk carrier owner and operator Oldendorff Carriers has completed a total of 23 deals with three Chinese leasing companies during the last twelve months. 

The deals comprise four 209,000 dwt, two 180,000 dwt, four 81,000 dwt, eight 63,500 dwt and five 61,000 dwt bulkers.

“None of these deals involve lease finance. The charters we provided are market related and mostly on a floating index rate basis,” the company explained.

Oldendorff Carriers added that the ten Capes and Kamsarmaxes will all be equipped with scrubbers, eight of them with open loop scrubbers and two of them with hybrid scrubbers.

What is more, the company has intensified its business relationship with Chinese shipyards as well.

By 2021, Oldendorff Carriers will have taken delivery of 106 newbuilds from 23 Chinese shipyards. The ships have been contracted or bought as newbuilding resales during a period of 35 years.

“Our long and strong relationship with Chinese shipyards began in 1986 when we bought two 28,000 dwt lakes-fitted bulk carriers as newbuilding resales from Dalian Shipyard at USD 4.5 million each,” according to Oldendorff Carriers.

The company’s 2019 – 2021 newbuilding program in China and Japan is comprised of 32 ships. Eight of these vessels have been resold, while another nine have employment attached.

“We are very pleased with the Chinese built vessels that we are operating in our global network of trades…. we will keep going back to China for more newbuildings and resales in the future,” the company revealed.

Oldendorff Carriers currently has a fleet of 750 vessels with a total tonnage of 63.4 million dwt and an average age of eight years.

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