Norwegian shipowner and operator J Ludwig Mowinckels Rederi are in talks for loan terms for two panamax dry bulk carriers with DNB Bank. J Ludwig Mowinckels Rederi reduced installments due to the poor markets. Panamax dry bulk carriers 2008 built 75K DWT M/V Goya and M/V Ogna must be at least 120% of outstanding debt, which at the end of 2015 stood at $24.9 million. Panamax dry bulk carriers 2008 built 75K DWT M/V Goya and M/V Ogna were bought as resales for $45 million each from John Fredriksen’s Golden Ocean Group and fixed for seven years by Torm at $24,000 per day.
J Ludwig Mowinckels Rederi reported a pre-tax loss of $6.2 million in 2015, compared with a $3.4 million loss in 2014. In 2015, Mowinckels Rederi bought Japanese 2005 built panamax dry bulk carrier 76K DWT MV Hrina (ex MV Amarantha) from K Line for about $10 million. In 2015, J Ludwig Mowinckels Rederi also bought two (2) more panamax bulk carriers 2008 built 75K DWT MV Ogna and MV Goya. J Ludwig Mowinckels Rederii revenues fell to $11.2 million. Norwegian shipowner J Ludwig Mowinckels Rederi was established in 1898 and today it’s owned by charitable Norwegian trusts.