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FIRST OLDENDORFF NEWCASTLEMAX COMPLETED AT HANTONG

FIRST OLDENDORFF NEWCASTLEMAX COMPLETED AT HANTONG

Friday, December 4, 2020 

The Newcastlemax bulk carrier 'Henry Oldendorff', first of four similar newbuildings for the Oldendorff group, has been named and handed over at the builder, Hantong Shipyard in China.

The first two vessels, delivery in December 2020 and Jan/Feb 2021 respectively, have been 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 two, to be delivered in June and September 2021 will be owned by Oldendorff.

When the last vessel is delivered, Oldendorff will have built a total of 19 ship at the private Hantong yard since 2019, consisting of 12 Kamsarmaxes and 7 Newcastlemaxes.

The company has two more newbuildings on order; a pair of specialised Transloaders, which are under construction at Chengxi Shipyard for deployment under a 25 year coal transshipment contract in Vietnam.

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