Samjin News

German shipowner Oldendorff Carriers says it has recently taken delivery of two new bulk carriers, continuing a string of newbuild deliveries from Chinese and Japanese shipyards.The 63,000 tdw Ultramax Britta Oldendorff and 100,000 tdw Post-panamax Diane Oldendorff, both built by Japanese yard Oshima Shipbuilding and handed over during the second quarter of 2020, are among 23 bulk carrier delivered to Oldendorff since early 2019. The vessels were mostly ordered between 2015 and 2017 at "attractive prices"…

In effort to upgrade the fleet, 2019 started with the delivery of five new eco-ships delivered to Oldendorff Carriers, four of which were delivered on the same day. In trying to reduce the environmental impact and these new (fuel-efficient) vessels will reduce fuel consumption for transporting cargo and consequently reduce the carbon footprint.M/V “Jan Oldendorff”, M/V “John Oldendorff”” and M/V “Julius Oldendorff”” were delivered from the building yard Nantong Cosco KHI Ship Engineering Co., Ltd in Nantong, PRC.

Dry bulk shipping firm Oldendorff Carriers said that the bulk carrier newbuilding MV “Christiane Oldendorff” (charter name “Midland Trader”) of 36,000 tdw will be delivered around the turn of the year. The ship is built at Samjin Shipbuilding Industries Co Ltd at Weihai, Shandong.The German company which ships and tranships over to 300 million tons of bulk cargo every year said in a note that  a sister ship, MV “Christopher Oldendorff” (charter name “Hansa Baltic”) is expected to start trading in April 2019."We originally ordered them in June 2012 at the then Korean controlled yard. In 2015, the Korean mother company got into trouble.

Last month saw the resurrection of two newbuilding contracts, which Oldendorff had concluded originally in June 2012 with Weihai-based Samjin Shipbuilding Ind. Co Ltd (SSI), at the time controlled by Korean shareholders. The initial order was for four 36,000 dwt Handysize newbuildings of the Korean designed FESDEC-36k eco type. The yard went through financial restructuring due to the problems of its Korean parent, leading Oldendorff to cancel all four ships and recollect its down payments in 2014 and 2015 after excessive delays.

Belgian dry bulk shipping group CMB said on Tuesday it had cancelled an order for four vessels with South Korean shipbuilder Samjin set to be delivered in 2014. CMB, which added that the shipbuilder was not able to deliver the four handysize vessels on time, said Samjin had returned $30 million in advances, including interest. In late 2011, CMB's unit Bocimar signed a deal with Samjin for the delivery of six vessels, with two options for another two. After Tuesday's cancellation, CMB said it was monitoring the situation and did not exclude walking away from other orders with Samjin.

Dry bulk carrier newbuilding orders predominate among the contracts reported in the latest issue of the Clarkson Hellas S&P Weekly Bulletin. One order is reported by Clarkson Hellas in the larger dry sizes this week, with Foremost Maritime contracting two firm 180,000 DWT Capesize at Beihai Shipyard. Delivery of the first vessel is due in the later part of 2015, with the second due in the final quarter of 2016. In Japan, First Steamship are reported to have contracted a single 85,000 DWT post-panamax bulk carrier at Sasebo Heavy, due to deliver in 2016.

With the recent commissioning of two TCS-PTG22 units at the Miraflores Power Plant in Panama and the successful factory acceptance test of a TCS-PTG20 unit for a 4,700 TEU container vessel ordered by Reederei Horst Zeppenfeld – the second such unit to be installed on board a second such vessel – MAN Diesel & Turbo’s recent market introduction of its new generation of waste heat recovery (WHR) systems is already notching up important milestones. The two TCS-PTG22s add another three MW to the 80 MW extension of an existing power plant in Miraflores.

Far East shipbuilders scoop the pool of latest big ship newbuilding orders reports Clarkson Hellas in their latest Weekly  S+P Bulletin. This week Clarkson Hellas say that Bocimar has announced an order for two firm 206,000 DWT Newcastlemax and one firm 180,000 DWT Capesize at Imabari, with delivery of all three vessels in 2016. Also at Imabari, Wisdom Marine announced an order for two firm 81,000 DWT Kamsarmax. Pricing is understood to be in the region USD 33-Millionper vessel with delivery in 2016.

Starting with the larger sizes Hyundai Merchant Marine (HMM) are understood by Clarkson Hellas to have placed an order for two firm 210,000 dwt Newcastlemax at Bohai, with delivery of both vessels due in early 2017. The majority of ordering this week has been focussed on the Kamsarmax market; Weihai Samjin (Korean owned yard with facility based in China) has taken two separate orders for 82,000 dwt Kamsarmax from NK Shipping for four firm plus two options, and two further firm vessels from another Korean buyer, although yet unknown.

Starting with the large sizes in dry, Oldendorff Carriers are reported to have declared the sixth in a series of 207,000 DWT Newcastlemax at HHI, with delivery in the second quarter of 2015. Clarkson Hellas report that at Hanjin Subic, STX Pan Ocean have contracted two firm 150,000 DWT Capesize, planned for delivery in the second half of 2016 and for charter to KEPCO. One order to report in the Kamsarmax sector, with Klaveness declaring the third and fourth in a series of 82,000 DWT bulk carriers at Jiangsu New Yangzijiang.

The focus this week being on the Ultramax and Handysize sectors. It was reported this week that that d’Amico Ireland Ltd have placed an order for four firm 64,000 DWT Ultramax at Yangfan, with delivery of all vessels in 2016 and pricing in the region USD 25 Mill. Also in China, Clarkson Hellas understands that Cyprus owners FrontMarine have placed an order for four firm 58,500 DWT Supramax at New Times. Pricing for these vessels is understood to be in the high USD 25 Mill, with delivery in 2015. At Tsuneishi’s Cebu facility in the Philippines, it was reported that Uni-Asia Shipping have contracted two firm 58,000 DWT Supramax. Although pricing for this deal was undisclosed, delivery of both vessel is understood to be due in 2015.

Reported ordering has been focussed primarily on smaller sizes with Handysize and Supramax seeing the majority of orders. According to the recently released Clarkson Hellas S&P Weekly Bulletin, Japanese yards appear to have had their fair share of the orders  with JMU Yokohama contracting two 61,500 DWT Supramax for Oldendorff Carriers with delivery of both vessels in the second half of 2014. This week it has come to light that Norden have increased their orderbook with contracts for a further four 56,000 DWT Supramax. These vessels, thought to have been committed in the first quarter of this year, are planned for delivery in 2015 with the orders split across a number of Japanese yards.

MacGregor, part of Cargotec, wins orders worth around EUR 10 million for cargo access equipment for 4 car carriers to be built in China. The orders are for the equipment of four 6,700 unit Pure Car/Truck Carriers (PCTCs). The order for two of the vessels was received from Samjin Shipbuilding and the order for the other two was received from Jinling shipyard, where the internal ramps for the vessels will be electrically operated. MacGregor is one of the world's leading brands of engineering solutions and services for handling marine cargoes and offshore loads. Their products serve the maritime transportation, offshore and naval logistics markets, in ports and terminals as well as on board ships.

Auto Marine Transport contracts Samjin Shipbuilding Industries Korea (Samjin) to build a series of pure car & truck carriers (PCTC's). Auto Marine Transport, a tonnage provider created with the assistance of Siem Car Carriers, sign an intiial agreement with the shipyard to build eight energy efficient pure car and truck carrier (PCTC) vessels capable of carrying 6700 CEU (car equivalent units) and is made up of two firm orders and options for a further six vessels. Simon Stevens, Chairman of Siem Car Carriers, said
“We are very pleased to have played a part in helping to establish Auto Marine Transport as the tonnage provider to access the energy-efficient PCTC market.

Holeby has sold the first of its recently upgraded Mk. In connection with MAN Diesel & Turbo’s recent repositioning of Holeby GenSets to within its Copenhagen-based Low Speed business unit, the company earlier announced the uprating of its classic L23/30H workhorse. Doosan reports having sold the first uprated model to Samjin Shipbuilding Industries (SSI) in Korea for a European operator with delivery due in November 2012, while MAN Diesel & Turbo says that several other of its licensees have already signed technical agreements for the production of a L23/30H Mk. 2 for another European operator. In a recent interview with DieselFacts, MAN Diesel & Turbo’s technical customer magazine, Mikael C.

MAN Diesel & Turbo received an order for two Turbo Compound Systems including Power Turbine and Generator (TCS-PTG) from Samjin Shipbuilding in Weihai, China. The TCS-PTGs will be employed aboard two 4,700 TEU container vessels currently under construction, operated by German shipowner Reederei Horst Zeppenfeld, each powered by individual MAN B&W 6S80ME-C9.2 low-speed engines. The order includes an option for two extra vessels. The order represents the first such instance for…

Earlier this month Bohandymar Limited – a 100% subsidiary of CMB – ordered 6 Handysize ECO-type bulk vessels (36.000 dwt) from Samjin Shipbuilding Industries Korea (Samjin) on very competitive conditions. The order includes two options each for two additional units. The delivery of the first four units is scheduled for 2013; and the others are scheduled for 2014. These vessels will be built according to the most modern specifications and are highly environmentally-friendly. The design offers a 30% fuel saving – as compared to vessels of the previous generation – and consequently a much lower CO2-emission. The vessels will also be equipped with a ballast water management system and are furthermore extremely flexible as regards the type of cargo they are able to carry.

quarter 2007. third quarter. At the end of the third quarter Bocimar expanded its fleet considerably. for 10 Handysize bulk vessels (33,500 dwt) from Samjin Corporation (Korea). of these vessels is scheduled to take place between September 2009 and December 2010. unit from Dalian (China). The delivery of the vessel will take place in June 2009. The prospects for the remainder of the year are good. fully covered at rewarding levels. The current spot freight markets remain historically high. second- hand values of bulk vessels. increase of more than 60%. The contribution of other activities amounts to $15.8m (2006: $5.75m). sale of Fukuoka 1266 (2007-19,700 dwt). ordered by CMB together with Wah Kwong in 2003 and 2004, and sold in early 2006.

CMB confirms that its subsidiary Bocimar International has sold its Handymax vessel CMB Talent (2001 – 52,403 dwt). The vessel is sold time charter attached, expiring at the end of 2008. The net sale price amounts to USD 53 million. At the time of delivery of the vessel, scheduled to take place at the end of November 2007, a capital gain of approximately $36m will be realized. Further, Bocimar has ordered 10 Handysize bulk vessels (33,500 dwt) from Samjin Corporation (Korea). The purchase price amounts to $36 million per vessel. The delivery of these vessels is scheduled to take place between September 2009 and December 2010. Finally Bocimar has ordered, in 50/50 joint venture with Drylog, one 180,000 dwt Capesize unit from Dalian (China).