German shipowner and operator Oldendorff Carriers sold 2015 built handysize bulk carrier 38K DWT MV Vanessa Oldendorff to Nova Marine for about $17.5 million. Lubeck based Oldendorff Carriers has executed the first deal of 2020 in the S&P (sale-and-purchase) market.
Henning Oldendorff led Oldendorff Carriers fetched a better price tag than the market level of similar handysize bulk carriers. The values of handysize bulk carriers have been slowly declining. 2015 built handysize bulk carrier’s market value is around $16.7 million.
In October 2014, German shipowner and operator Oldendorff Carriers acquired MV Vanessa Oldendorff as a newbuilding in a resale deal with Agriculture & Energy Carriers (AEC) at Naikai Zosen’s Setoda Shipyard for about $26 million. 2015 built handysize bulk carrier 38K DWT MV Vanessa Oldendorff passed special survey in 2019.
In 2019, Oldendorff Carriers sold eight (8) secondhand bulk carriers in the S&P (sale-and-purchase) market.
Lately, German shipowner and operator Oldendorff Carriers has acquired three (3) post-panamax bulk carriers and one (1) kamsarmax bulk carrier.
German shipping giant Oldendorff Carriers operates around 700 owned and chartered bulk carriers.
On 10 March 2020, German bulk carrier giant Oldendorff Carriers is planning to christen four (4) newbuilding bulk carriers:
- MV Dietrich Oldendorff (100K DWT 2020 built)
- MV Beate Oldendorff (62K DWT 2020 built)
- MV Benjamin Oldendorff (62K DWT 2020 built)
- MV Britta Oldendorff (62K DWT 2020 built)
Christening event will take place in Oshima Shipbuilding, Japan. MV Beate Oldendorff will be christened by CEO Henning Oldendorff’s wife Beate Oldendorff. MV Dietrich Oldendorff, MV Beate Oldendorff, MV Benjamin Oldendorff and MV Britta Oldendorff will be delivered from the Japanese shipyard till June 2020.
All newbuilding bulk carriers are new designs that are the most economical hull form with very low bunker consumption. All new bulk carriers are scrubber-fitted and equipped with Ballast Water Treatment Systems (BWTS). Moreover, German shipowner Oldendorff Carriers have been celebrating decades of close collaboration with Oshima Shipbuilding, Japan
In the shipping market, Oshima Shipbuilding is very well known for high-quality super-eco bulk carriers.
CEO Henning Oldendorff inherited Oldendorff Carriers from his father Egon Oldendorff when he was 23 years old.
German shipowner Oldendorff Carriers has a fleet of 122 ships.
German bulker operator Oldendorff Carriers sold 2009 built handysize bulk carrier 32K DWT MV Dorothea Oldendorff for around $6 million. MV Dorothea Oldendorff ship is due for a special survey in December 2019. In November 2019, Henning Oldendorf led Oldendorff Carriers also sold 33K DWT MV Dora Oldendorff for around $6.5 million. Turkish buyers renamed MV Dora Oldendorff as MV Kestrel S. Up to now in 2019, Oldendorff Carriers has sold eight (8) bulk carriers on the secondhand market. Lubeck, Germany based Oldendorff Carriers operates on average 700 owned and chartered bulk carriers.
German bulker giant Oldendorff Carriers has ordered newbuilding bulk carriers with Azipod electric propulsion technology. According to Oldendorff Carriers, the electric propulsion notion will decrease the investment costs. Azipod electric propulsion technology has been adopted on ferryboats and cruise ships for a long time. Nevertheless, Oldendorff Carriers has selected electric propulsion technology for two (2) 21K DWT self-unloading bulk carrier new-buildings at Chengxi Shipyard, China. Each self-unloading bulk carrier will be fitted two Azipod electric propulsion technology by ABB. Self-unloading bulk carriers were designed by ship design company CS Marine.
Self-unloading bulk carrier new-buildings must operate dependably over a widespread time at supreme performance, and necessitate to be primarily maneuverable in depthless waters. Oldendorff Carriers operate reliable and environmentally-friendly bulk carriers. Oldendorff Carriers’ fleet consists of 95% eco bulk carriers.
In January 2019, German bulker giant Oldendorff Carriers sold five (5) self-unloader bulk carriers and exit the pool. Oldendorff Carriers sold its stake in the CSL International Pool and its three (3) self-unloader bulk carriers trading in the system to Algoma Central. Furthermore, Oldendorff Carriers sold two (2) other self-unloader bulk carriers to a Chinese firm. Oldendorff Carriers sold three (3) self-unloader bulk carriers:
- MV Alice Oldendorff (59K DWT – 2000 built)
- MV Sophie Oldendorff (70K DWT – 2000 built)
- MV Harmen Oldendorff (66K DWT – 2006 built)
A total $100 million is paid by Canada based Algoma Central. Algoma Central now controls a 40% stake in CSL International Pool, which runs a fleet of 18 ships. Algoma Central President Ken Bloch Soerensen stated that the company has a strategic interest in increasing its participation in the CSL International Pool for some time. In 2018, CSL International Pool opened a new office in Fort Lauderdale. German bulker operator Oldendorff Carriers has a fleet of more than 70 ships on the water worth $2.76 billion. Oldendorff Carriers’ 31 newbuilding bulk carriers are worth almost $500 million. German bulker operator Oldendorff Carriers also sold two (2) self-unloader bulk carriers:
- MV Bernhard Oldendorff (78K DWT – 1991 built)
- MV Caroline Oldendorff (78K DWT – 1990 built)
Chinese shipowners acquired two (2) self-unloader bulk carriers for land reclamation work in Hong Kong. After selling five (5) self-unloader bulk carriers, Oldendorff Carriers’ self-unloader bulk carriers dropped to 10 ships. Oldendorff Carriers also has two (2) newbuilding self-unloader bulk carriers on order in China. These newbuildings are attached to a 25-year contract for NSPC2 in Vietnam where they will be used to unload coal from capesize bulk carriers. German bulker operator Oldendorff Carriers has been in the self-unloader market since 1991. Oldendorff Carriers was a founder member of CSL International Pool in 1993.
German giant bulk carrier owner and operator Oldendorff Carriers sold 2 veteran ships for further trading. Oldendorff Carriers sold 1990 built 77K DWT self-unloader MV Carol and 1991 built 77K DWT self-unloader MV Berni to Chinese interests for a project. Self-unloader MV Carol and MV Berni’s special features make them well suited for land reclamation projects. Korean shipyard Daewoo built self-unloader MV Carol and MV Berni are due for a special survey in January 2021. Self-unloader MV Carol and MV Berni fetched a firm $6.75 million each, which is $1.5 million over their demolition value. Self-unloader MV Carol and MV Berni are believed to have been on long-term charter contracts to Chinese interests. German giant Oldendorff Carriers has a fleet of 700 dry bulk carriers, including 10 self-unloader ships.
Henning Oldendorff has transformed Oldendorff Carriers into one of the biggest shipping companies on earth. In 1921, Egon Oldendorff became a partner in a small Hamburg shipping business which was renamed Lillenfeld & Oldendorff. Today, Oldendorff Carriers carry around 320 million metric tonnes of cargo each year. Henning Oldendorff has transformed Oldendorff Carriers from being a traditional tramp owner to a logistics provider. Henning Oldendorff sold off most of his owned ships during the boom years up to 2008. Henning Oldendorff chartered in tonnage to compensate and fulfill CoA (contracts of affreightment). Henning Oldendorff told his technical department to develop opportunities as they arose and hired the best people in the industry. After the biggest shipping crises in history, Henning Oldendorff started ordering again. Henning Oldendorff has been managing Oldendorff Carriers over 30 years and has made mistakes. But, Henning Oldendorff knows his mistakes and he has learned also from others’ mistakes.
German shipowner and operator Oldendorff Carriers cooperated with steel giant Tata Steel for the transshipment hub at Port Meadow, India. For transshipment, Oldendorff Carriers is utilizing converted 2013 built panamax dry bulk carrier 75K DWT MV Trina Oldendorff. DWT MV Trina Oldendorff was converted to a side-mounted geared ship last year at Chengxi shipyard in China. MV Trina Oldendorff will be used for shuttle carrier between Haldia and the Andaman Islands. Like many ports close to the Bay of Bengal, Haldia has a maximum draft restriction of about 7.5 meters. So, panamax and capesize dry bulk carriers will tranship and lighter their cargo at Port Meadow.
German shipowner and operator Oldendorff Carriers launched a coal-transshipment hub in Vietnam capable of handling newcastlemax bulk carriers. Floating Transfer Platform (FTP) has a discharge capability of 25,000 metric tons per day and will handle growing coal imports of Vietnam. Vietnam is currently suffering to receive and export of bulk cargoes due to shallow ports and poor infrastructure. Floating Transfer Platform (FTP) has 2 cranes, hoppers, and conveyor belts and will be able to tranship the coal from large vessels into shallow draft barges for delivery to customers. Oldendorff’s Floating Transfer Platform (FTP) will be a cost-effective logistic solution.
German dry bulk shipowner and operator Oldendorff Carriers and Indian charterer Uttam Galva agreed on a legal battle over cargo damage. Oldendorff Carriers and Indian charterer Uttam Galva reached an amicable resolution for steel coils cargo damage on 2011 built handy bulk carrier 34K DWT M/V AS Elenia en route to India. Indian charterer Uttam Galva was asking $1.2 million cargo damage. M/V AS Elenia is managed by German Nordic Hamburg Shipmanagement.
German shipowner and operator Oldendorff Carriers sold post panamax dry bulk carrier 2013 built 95K DWT M/V Conrad Oldendorff to Cobelfret for $19 million. Belgium based Cobelfret renamed the post panamax dry bulk carrier as M/V Lowlands Rise. In August 2016, German shipowner and operator Oldendorff Carriers bought M/V Conrad Oldendorff for $16.45 million from Japanese shipowner Seno Kisen. German shipowner and operator Oldendorff Carriers also sold handy bulk carriers 2011 built sister ships 33K DWT M/V Christiane Oldendorff and M/V Christoffer Oldendorff for $5.5 million each for further trading. In January 2017, Oldendorff Carriers sold post-panamax dry bulk carrier 2011 built M/V Cathrin Oldendorff to Chilean shipowner and operator Ultraocean for $12.5 million.
Oldendorff Carriers sold supramax M/V Julius Oldendorff was previously in the fleet of Paragon Shipping. 53K DWT M/V Julius Oldendorff has been sold to a Greek buyer for $4 million. Oldendorff Carriers bought the bulk carrier last December as part of a $15.5 million en-bloc deal for Paragon Shipping fleet.
Scrap ship buyer GMS last year bought the 227K DWT capesize bulker M/V Beate Oldendorff for scrapping in India. GMS is now asking German Oldendorff Shipping discount on the price due to low scrap prices but Oldendorff is reluctant to renegotiate. Scrap capesize prices are currently between $235 per Light Wight Displacement Tonnage (LDT) and $240 per Light Wight Displacement Tonnage (LDT).
German owner Neu Seeschiffahrt has sold 1992 built bulk carrier 285K DWT M/V Renate N to Bangladesh for $230 per Light Wight Displacement Tonnage (LDT), or $7.6 million. Another German shipowner, Oldendorff Carriers sold 1988 built bulk carrier 227K DWT M/V Bold Carrier to India for $6.3 million.