Oldendorff Carriers

German shipowner and operator Oldendorff Carriers celebrates its centenary. Oldendorff Carriers is a private family-owned company, Oldendorff Carriers began life 100 years ago. Currently, Oldendorff Carriers is one of the world’s biggest dry bulk companies. On 19 February 1921, Henning Oldendorff’s father Egon Oldendorff became a partner in Lillienfeld & Oldendorff. In 1980, Henning Oldendorff took over the company from his father to create Oldendorff Carriers. Currently, Oldendorff Carriers operates around 700 bulk carriers. The merger of the old Egon Oldendorff with Concept Bulk Carriers in the mid-1990s was the turning point in the progress of Oldendorff Carriers. The merger also committed to the unmistakable working culture that is part of the Oldendorff Carriers’ character. Oldendorff Carriers gave employees a lot of freedom and trust the employees to put their heart and soul into obtaining the most desirable solution. Oldendorff Carriers has formed a solid operating profile however Oldendorff Carriers also known for its asset play. Henning Oldendorff commands the S&P (Sale and Purchase) team. Oldendorff Carriers’ S&P (Sale and Purchase) department fascinates him the most. Furthermore, Oldendorff Carriers has a strong research department. Currently, Oldendorff Carriers have 19 office. Oldendorff Carriers strive to buy and sell vessels at the right time. Oldendorff Carriers’ owned and long-term chartered bulk carriers has increased to about 175 out of 700 bulk carriers. Oldendorff Carriers has been to balancing risks through the physical shipping and paper markets. Therefore, Oldendorff Carriers feel the vibration of changes in the spot and forward markets. Oldendorff Carriers has become a market leader in the baby-capesize, newcastlemax, and post-panamax bulk carrier segments. Oldendorff Carriers established a transshipment hub in Trinidad. Therefore, Oldendorff Carriers able to take various handysize cargoes coming out of the draught-restricted Amazon and Orinoco rivers, which are transshipped on baby-capesize bulk carriers. Oldendorff Carriers has invested $3 billion in 90 eco bulk carriers. Furthermore, Oldendorff Carriers have been working on folding rotor sail design for its bulk carriers. 19-February-2021

 

German shipowner and operator Oldendorff Carriers acquired 2010 built baby capesize bulk carrier 93K DWT MV Celine Oldendorff (ex MV Ocean Garnet) from New Noble Group for about $12 million. MV Celine Oldendorff (ex MV Ocean Garnet) was equipped with ballast water treatment. Henning Oldendorff led Oldendorff Carriers has been expanding its baby capesize fleet. Currently, Oldendorff Carriers have 30 owned baby capesize bulk carriers in the fleet and operates 116 baby capesize bulk carriers. In June 2020, Oldendorff Oldendorff Carriers acquired, sister ship of MV Celine Oldendorff (ex MV Ocean Garnet), 2010 built baby capesize bulk carrier 93K DWT MV Caroline Oldendorff (ex MV Ocean Ruby) for about $13 million. On the other hand, Oldendorff Carriers chartered-in 2017 built post-panamax bulk carrier 80K DWT MV Sakizaya Noble for a year at $13,000 per day. Currently, German dry bulk giant Oldendorff Carriers operates around 700 ships. 15-August-2020

 

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 new-building 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. 21-January-2020

 

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 its high-quality super-eco bulk carriers.
CEO Henning Oldendorff inherited Oldendorff Carriers from his father Egon Oldendorff when he was 23 years old. Currently, German shipowner Oldendorff Carriers has a fleet of 122 owned ships. 14-January-2020

 

German shipowner and operator Oldendorff Carriers has joined the developing Getting to Zero Coalition. Getting to Zero Coalition is an alliance of more than one hundred like-minded maritime companies. Getting to Zero Coalition Members commit to decarbonizing shipping and meeting IMO (International Maritime Organization) targets. Getting to Zero Coalition was launched at the United Nations Climate Action Summit. Getting to Zero Coalition’s purpose is to decrease shipping’s greenhouse gas (GHG) emissions by at least 50% by 2050. According to Henning Oldendorff led Oldendorff Carriers, Getting to Zero Coalition is committed to preparing commercially viable deep sea zero emission ships into operation by 2030. Lubeck-based Oldendorff Carriers understands the urgency to stop climate change. German shipowner and operator Oldendorff Carriers will proceed to study non-GHG (greenhouse gas) producing techniques of energy and propulsion for ships. Henning Oldendorff-led Oldendorff Carriers’ around 95% of the fleet is eco-type bulk carriers. Recently, Oldendorff Carriers contracted a research agreement with the Massachusetts Institute of Technology’s (MIT) Center for Bits and Atoms (CBA), which will examine disruptive improvements in bulk carrier design and propulsion. 9-December-2019

 

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. 1-December-2019

 

German shipowner and operator Oldendorff Carriers is teaming up with the Massachusetts Institute of Technology’s (MIT) Center for Bits and Atoms (CBA) to examine disruptive improvements in bulk carrier design and propulsion. Henning Oldendorff-led Oldendorff Carriers supports IMO’s (International Maritime Organization) decarbonization targets in 2030 and 2050. Massachusetts Institute of Technology’s (MIT) Center for Bits and Atoms (CBA) has been improving hydrodynamic efficiency in the aerospace and automotive industries. Lubeck-based Oldendorff Carriers looks beyond conventional naval architecture to a deeper integration of bulk carrier forms and functions. German shipowner and operator Oldendorff Carriers has invested $3 billion in 90 new eco-ships since 2013. Oldendorff Carriers operates around 700 bulk carriers. Oldendorff Carriers’ more than 95% of its fleet are eco-ships. According to Oldendorff Carriers, clean oceans and clean air are crucial for human continuance. German shipowner and operator Oldendorff Carriers has an aim of meeting the IMO (International Maritime Organization) mandate for diminishing the environmental impact of shipping. 17-November-2019

 

German shipowner and operator Oldendorff Carriers sold 2010 built handysize bulk carrier 33K DWT MV Dora Oldendorff for around $6.5 million. MV Dora Oldendorff is due for SS (Special Survey) in January 2020. Lubeck-based Oldendorff Carriers has sold seven (7) bulk carriers and acquired three (3) post-panamaxes bulk carriers. German shipowner and operator Oldendorff Carriers has been very active in the newbuilding market. Oldendorff Carriers has ordered 85 eco bulk carriers since 2013. Henning Oldendorff led Oldendorff Carriers operates on average 700 bulk carriers. Currently, Oldendorff Carriers controls around 100 bulk carriers in the handysize segment. On the other hand, Oldendorff Carriers controls around 180 panamaxes and post-panamax bulk carriers. 16-November-2019

 

German shipowner and operator Oldendorff Carriers’ 2015 built newcastlemax bulk carrier 207K DWT MV Lydia Oldendorff became the biggest bulk carrier to load coal at Puerto Bolivar, Colombia. Henning Oldendorff led Oldendorff Carriers could encourage Colombia to sell more coal. Exports of Colombian coal could about to become more competitive. Currently, Lubeck-based shipowner and operator Oldendorff Carriers has around 65 newcastlemax bulk carriers in its fleet. Oldendorff Carriers loaded coal at Puerto Bolivar, Colombia on a trial cargo draft of 17.5 meters. 207K DWT MV Lydia Oldendorff is destined for Antwerp, Belgium, where newcastlemax bulk carrier will again be the biggest ship to enter the port. Puerto Bolivar, Colombia is well known as a capesize bulk carrier coal loading port. Puerto Bolivar, Colombia will be able to accommodate coal to customers more competitively, with more generous newcastlemax bulk carriers. Puerto Bolivar, Colombia has been operated by Cerrejon Coal. Puerto Bolivar, Colombia is one of South America’s main coal export facilities exporting over 30 million tonnes per year. CMC Coal Marketing is the exclusive marketer of the Cerrejon Coal Company. The Cerrejon Coal Company is proportionately owned by subsidiaries of BHP Billiton, Anglo American, and Glencore. Colombia exporting coal to Brazil, Chile, Guatemala, Mexico, Puerto Rico, and the US. Colombia exports coal to Turkey and Israel on capesize bulk carriers. However, Colombia exports coal to South America frequently on panamax or supramax bulk carriers. The principal obstacle for Colombia is that the country exports to the Americas and the Mediterranean, however these regions are experiencing weakening coal demand. Coal demand has been increasing principally in India, China, Vietnam, and Thailand. However, Colombia is striving to be competitive against Indonesian and Australian coal exports. Oldendorff Carriers’ newcastlemax bulk carriers might serve the economies of scale to support Colombian coal to be slightly more competitive against Indonesian and Australian coal exports. 30-October-2019

 

German shipowner and operator Oldendorff Carriers’ manager Christian Oldendorff has teamed up with a Zurich Science University to study emissions-free shipping. Lubeck-based Oldendorff Carriers and Zurich Science University collaborates and investigates ship movements in Europe and the expense of modern fuels and storage options. Oldendorff Carriers and Zurich Science University examine artificial fuels for a CO2-​neutral option for the shipping industry. Electric propulsion systems have been applied for short-sea voyages. For long voyages, Oldendorff Carriers and Zurich Science University report that ammonia would be a proper option. However, due to its toxicity, ammonia as a fuel is not currently permitted. The report is part of an initiative by Reederei Nord co-owner Oldendorff. According to Henning Oldendorff led Oldendorff Carriers, it’s time to seek alternative fuels. 26-October-2019

 

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 have 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. 4-September-2019

 

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 of $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 new-buildings 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. 11-August-2019

 

German shipowner and operator Oldendorff Carriers acquired a 2012 built baby-cape bulk carrier 115K DWT MV Evelyn Schulte for around $15 million from Thomas Schulte. MV Evelyn Schulte was the largest of three bulk carriers in the Thomas Schulte fleet. Currently, Henning Oldendorff led Oldendorff Carriers has around 40 baby-cape bulk carriers in its fleet. Unfortunately, baby-cape bulk carriers have been phasing out. Oldendorff Carriers is an influential player in S&P (Sale and Purchase) market. Oldendorff Carriers recommenced bulk carrier acquisitions in 2019. In 2006, Lubeck-based Oldendorff Carriers moved into the capesize market. Currently, Oldendorff Carriers operates a fleet of approximately 700 bulk carriers. 9-July-2019

 

German shipowner and operator Oldendorff Carriers signed 23 deals, from ultramax up to kamsarmax bulk carriers, with Chinese leasing companies in 2018. Two (2) kamsarmax bulk carriers due in 2021 have been resold with bareboat charters back to Henning Oldendorff led Oldendorff Carriers for five (5) years, plus seven (7) years of options. Furthermore, two (2) kamsarmax bulk carriers will be delivered in 2020 have been taken on seven (7) year time charters, with two (2) years of options. Four (4) kamsarmax bulk carriers will be delivered in 2020 were resold with bareboat charters back to Oldendorff Carriers for up to eight (8) years. Additionally, eight (8) kamsarmax bulk carriers and five (5) ultramax bulk carriers were sold with a three (3) year floating time charter back to Oldendorff Carriers. Between 1986 and 2021, Lubeck-based shipowner and operator Oldendorff Carriers will have taken delivery of 106 new-building bulk carriers from a total of 23 Chinese shipyards. Henning Oldendorff led Oldendorff Carriers is satisfied with the Chinese-built carriers. In January 2019, Oldendorff Carriers sold its stake in CSL International Pool and its three (3) bulk carriers trading within the pool went to Algoma Central. Algoma Central acquired 2000 built 59K DWT MV Alice Oldendorff, 2000 built 70K DWT MV Sophie Oldendorff and 2006 built 66K DWT MV Harmen Oldendorff for around $100 million from Oldendorff Carriers. 3-June-2019

 

German shipowner and operator Oldendorff Carriers has begun outfitting its entire fleet with LED lift bulbs to decrease its green footprint. In 2018, Henning Oldendorff led Oldendorff Carriers tried the performance of various LED manufacturer’s lights. Lubeck-based Oldendorff Carriers determined that LED lights are more efficient than conventional lights on bulk carriers. After tests, Oldendorff Carriers concluded it was beneficial to switch to LED lights on bulk carriers. German shipowner and operator Oldendorff Carriers announced the first six bulk carriers have now been fitted with LED lights and that the remaining bulk carriers will be outfitted with LED lights. Oldendorff Carriers published that with LED bulbs fitted, the workload for the crew on board will be significantly diminished, as LED lights lifetime is about five times longer compared with normal fluorescent bulbs. Oldendorff Carriers proclaimed that the use of LED bulbs will also decrease the electrical power requirement and consequently the emissions from each bulk carrier. 26-May-2019

 

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 have a fleet of 700 dry bulk carriers, including 10 self-unloader ships. 31-March-2019

 

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. 15-February-2018

 

German shipowner and operator Oldendorff Carriers cooperated with steel giant Tata Steel for the transshipment hub at Port Meadow, India. For transshipment, Oldendorff Carriers are 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. 14-February-2018

 

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. 5-July-2017

 

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 MV AS Elenia en route to India. Indian charterer Uttam Galva was asking $1.2 million cargo damage. MV AS Elenia is managed by German Nordic Hamburg Shipmanagement. 18-April-2017

 

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. 13-March-2017

 

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. 16-April-2016

 

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). 6-April-2016

 

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. 2-March-2016