AO Shipping

Hamburg-based shipowner AO Shipping (A.O. Schiffahrt GmbH & Co. KG. – Alexander Oetker Schifffahrt mbH. AOS) aquired 2010 built kamsarmax bulk carrier 82K DWT MV BW Acorn (MV Meteor) from BW Dry Cargo for around $13 million. AO Shipping (A.O. Schiffahrt GmbH & Co. KG. – Alexander Oetker Schifffahrt mbH. AOS) is going to charter out MV BW Acorn (MV Meteor) to BW Dry Cargo for three (3) years. Previously, BW Dry Cargo sold three (3) kamsarmax bulk carriers for around $41 million. However, the deal has been materialized. Besides AO Shipping (A.O. Schiffahrt GmbH & Co. KG. – Alexander Oetker Schifffahrt mbH. AOS), BW Dry Cargo sold two (2) kamsarmax bulk carriers MV BW Barley and MV BW Einkorn to Centrofin. AO Shipping (A.O. Schiffahrt GmbH & Co. KG. – Alexander Oetker Schifffahrt mbH. AOS) are managed by Germany based Orion Reederei. AO Shipping (A.O. Schiffahrt GmbH & Co. KG. – Alexander Oetker Schifffahrt mbH. AOS) is looking to acquire more secondhand bulk carriers. AO Shipping (A.O. Schiffahrt GmbH & Co. KG. – Alexander Oetker Schifffahrt mbH. AOS) has been able to keep all its bulk carriers employed through the coronavirus pandemic to first class charterers like Ultrabulk. 4-August-2020

 

Konstantin and Alexander Oetker are developing the Oetker Family’s interests in the dry bulk sector via AO Shipping (A.O. Schiffahrt GmbH & Co. KG. – Alexander Oetker Schifffahrt mbH. AOS). AO Shipping acquired 2010 built supramax dry bulk carrier 57K DWT MV Teresa Oetker (ex MV Rowan 1) for around $10 million. After this acquisition, the AO Shipping fleet increased to 8 dry bulk carriers. In November 2017, Dr. August Oetker Group sold liner shipping operation Hamburg Sud to Maersk Line. Previously, Konstantin Oetker was a shipbroker for 30 years in London and established his own company KO Maritime. In August 2017, Konstantin Oetker moved to Germany. MV Teresa Oetker (ex MV Rowan 1) was acquired with a charter to Oldendorff Carriers till August 2018. Previously, AO Shipping acquired 2002 built panamax dry bulk carrier 74K DWT MV Boreal. Alexander Oetker plans to keep AO Shipping (A.O. Schiffahrt GmbH & Co. KG. – Alexander Oetker Schifffahrt mbH. AOS) in private hands and never considers IPO (Initial Public Offering). Konstantin and Alexander Oetker are financially backed by family members, including their father August Oetker. AO Shipping AO Shipping (A.O. Schiffahrt GmbH & Co. KG. – Alexander Oetker Schifffahrt mbH. AOS) was set up in 2003. Initially, AO Shipping bought 5 ships. AO Shipping will stay as an asset player. In 2009, AO Shipping acquired 2001 built panamax dry bulk carrier 76K DWT MV Bonita. 2012, AO Shipping took delivery of two (2) newbuilding kamsarmax bulk carriers  MV Blumenau and MV Belo Horizonte from the Chinese shipyard. When acquiring dry bulk carriers, AO Shipping usually guarantees a five-year charter out in place from bluechip ship operators. In 2013, AO Shipping ordered 2 ultra bulk carriers from Japanese Shipyard and chartered out for a long period to ship operator Ultrabulk. In 2017, AO Shipping took delivery new building ultra bulk carrier 63K DWT MV Florentine Oetker. 19-January-2018