German bulker operator Oldendorff Carriers has christened its latest new vessel as its fleet renewal programme continues.
On 30 November Henry Oldendorff was named by Ms. Wei of ICBC Financial Leasing, Beijing. This 208,000dwt Newcastlemax is the first of four newbuildings, to be delivered from Hantong Shipyard in China between now and late summer 2021. The vessels is to be delivered later this week.
The first two were sold to subsidiaries of ICBC Financial Leasing with 5 + 5 + 2 years bareboat charter back to Oldendorff Carriers on an index-linked floating rate basis. The second vessel under this arrangement – Hugo Oldenodrff – is scheduled for delivery in January/February of 2021. Heide Oldendorff and Hauke Oldendorff, the third and fourth vessels are scheduled for delivery in June and August 2021 respectively. Both of these vessels will be fully owned by Oldendorff.
When the last vessel is delivered, Oldendorff have built a total of 19 ship at the private Chinese shipbuilder since 2019, consisting of 12 Kamsarmaxes and seven Newcastlemaxes. The company has resold eight of the ships to third parties, six of those with floating bareboat charter back.
Two other newbuildings still to join the fleet are the two specialised Transloaders, which are under construction at Chengxi Shipyard for deployment under a 25 year coal transshipment contract in Vietnam. These are the 21,500dwt Calypso to be delivered at the end of the year and sister Anna scheduled for July/august 2021 delivery.