Home World Oldendorff Carriers – Ultramax sale takes cooperation with CDBL to 25 ships

Oldendorff Carriers – Ultramax sale takes cooperation with CDBL to 25 ships

We are pleased to confirm, that we agreed a deal to sell 6 of our Ultramaxes to China Development Bank Leasing (CDBL) with floating bareboat charter back:

  • MV “Jan Oldendorff” abt 61,000 dwt Blt 2019 NACKS
  • MV “Jens Oldendorff” abt 61,000 dwt Blt 2019 DACKS
  • MV “Jonas Oldendorff” abt 61,000 dwt Blt 2019 DACKS
  • MV “Jacob Oldendorff” abt 61,000 dwt Blt 2019 DACKS
  • MV “August Oldendorff” abt 60,000 dwt Blt 2015 JMU
  • MV “Alwine Oldendorff” abt 60,000 dwt Blt 2014 JMU

We are taking all ships back on a floating rate, index-based bareboat charter for 5 + 2 + 1 years. The deal is not a sale and leaseback transaction and there are also no re-purchase obligations involved. The ships will be delivered to CDBL between 8th December 2020 and 6thFebruary 2021.

Our previous deals with CDBL have involved the sale of 13 second hand Ultramaxes with floating T/C back and 4 Kamsarmax newbuildings with floating B/B back. Furthermore, we have chartered two CDBL owned Newcastlemax newbuildings, which were delivered from Cosco Yangzhou Shipyard in April and May 2020.

The above sale of 6 Ultras means, that we now have done 25 transactions with CDBL, with whom we enjoy an excellent cooperation.