Named today in a ceremony at the Hantong Shipyard in China, the Newcastlemax bulker M/V Henry Oldendorff is the first of four newbuildings, to be delivered by the shipbuilder to Germany’s Oldendorff Carriers between now and late summer 2021.
The first two were sold to subsidiaries of ICBC Financial Leasing with 5 + 5 + 2 years bareboat charters back to Oldendorff Carriers on an index-linked floating rate basis.
When the last vessel is delivered, Oldendorff will have built a total of 19 ship at the privately owned shipbuilder since 2019, consisting of 12 Kamsarmaxes and seven Newcastlemaxes. Oldendorff has resold eight of the ships to third parties, six of them with floating bareboat charter backs.
Other newbuildings still to join the Oldendorff fleet are the two specialized Transloaders, that are under construction at Chengxi Shipyard for deployment under a 25 year coal transshipment contract in Vietnam.
