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Saturday, January 20, 2018

Fleet Of Babycapes Is Growing: Oldendorff

Maritime Activity Reports, Inc.

December 11, 2017

 Photo: Oldendorff

Photo: Oldendorff

 Oldendorff Carriers has recently increased the number of owned bulk carriers in it Babycape segment by acquiring four more eco 119,000 tonners from compatriot shipowner Hartmann Reederei.

 
The vessels are: MV UBC Ottawa   (tbrn: Roland Oldendorff), MV UBC Odessa  (tbrn: Rex Oldendorff), MV UBC Olimbus  (tbrn: Redmer Oldendorff) and MV UBC Oristano (tbrn: Rik Oldendorff).
 
These ships were built for Hartmann at Sinopacific Shipbuilding in 2011. The acquisitions will increase our total operated Babycape fleet to around 36 units, of which 10 will be fully owned. Oldendorff Carriers  has been able to build a network of trades, which can take advantage of the large capacity that these vessels offer on any draft. 
 
"The Sinopacific 119k design, of which we will control all 10 including 8 owned and 2 chartered ships, has the optimum deadweight / draft ratio of nearly 119,000 tdw on only 14.5 m ssw draft. Our calculations show, that we should also be able to increase the intake of these vessels to more than 121,500 tdw on about 14.794 m draft," said a press statement from the company.
 
"Chartering for our Babycape business can be handled from our London office, with additional chartering operations from Singapore. Having 10 sister vessels which have optimal characteristics allows us to offer our clients a competitive advantage and more flexibility," it added.
 
 The purchase of these vessels is in line with the positive outlook for drybulk freight rates and values. This deal takes its total net acquisitions to 97 vessels of around 10 million tdw over the last 5 years with vessel takeovers between 2013 and 2020. 
 
These acquisitions are made up of newbuildings, resales and modern second hand ships. This net 97 vessel investment, is after the company sold 11 tankers (following the acquisition of E-ships, Abu Dhabi), and 28 bulk carriers during the same period.
 
Maritime Reporter Magazine Cover Dec 2017 - The Great Ships of 2017

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