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BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
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Oldendorff ups 'eco' bulker order book

Set to receive 21 newbuilds with lower fuel consumption between 2018 and mid-2020.

The 61,090-dwt bulk carrier Alwine Oldendorff. Image credit: Oldendorff Carriers

Updated on 27 Jun 2018 07:14 GMT

Dry bulk shipowner and operator Oldendorff reports that it has increased its order book with the confirmation of two Kamsarmax newbuild options, bringing the number of 'eco' bulk carriers it is set to receive from Japan and China between the end of 2018 and mid-2020 to 21.

Oshima Shipbuilding is due to deliver two 100,000-deadweight-tonne (dwt) Post-Panamaxes and three 62,000-dwt Ultramaxes during the first half of 2020. According to Oldendorff, Oshima's ship designs are "setting new benchmarks in terms of low fuel consumption."

Hantong Ship Heavy Industry will be building seven 82,000-dwt Sdari-design Kamsarmaxes between 2019 and the spring of 2020. The series will feature MAN-B&W engines, Yanmar auxiliary engines and optimized Nakashima propellers.

The total number of vessels ordered at Hantong was 10, but three ships were later resold to other owners.

Nantong COSCO KHI Ship Engineering (Nacks) and Dalian Cosco KHI Ship Engineering (Dacks) are due to build six 61,000-dwt Ultramax bulkers for delivery in 2019.

Also, three 36,000-38,000-dwt handysize vessels are due to be delivered from two Chinese yards in 2018 and 2019.

'Eco' ships

Oldendorff usually has around 700 bulk carriers under operation at any one time. Since 2014, the firm has invested in around 60 'eco' newbuilds featuring low fuel consumption and reduced emissions compared with older ships.

Most of Oldendorff's long-term, time-chartered ships are also 'eco' type ships.

Towards the end of May, Oldendorff was confirmed as a member of the Sustainable Shipping Initiative (SSI), whose members are working together with NGOs Forum for the Future and WWF to help create a more environmentally sustainable maritime industry by 2040.

Sales and purchases

Last month, Oldendorff agreed to sell 13 Ultramax vessels for delivery until September 2018 to an Asian buyer with a two-year time charter, based on a floating rate structure. The package includes eight 63,500-dwt bulk carriers built (2015-2018) at Qingshan and Yangzijiang and five 61,000-dwt Ultramaxes built (in 2014) at Imabari and Nacks

Overall, Oldendorff says it has now bought or ordered 137 vessels for takeover between 2013 and 2020, of which 47 ships were sold on and 9 older acquisitions were also sold in the same period.

Bunker consumption

Back in February, Oldendorff reported that it consumed 3.5 million tonnes of marine fuel in 2017, which was a 30 percent increase on the 2.7 million tonnes used the year before and a new record for the bunker buyer.

Overall, Oldendorff's fleet of ships received 6,232 bunker deliveries, which was a year-on-year jump of 1,341, or 27.4 percent.

Commenting on the results at the time, Jens Maul Jorgensen, director of the firm's bunker desk, told Bunker Index that the rise was due to the expansion of its fleet and an increase in activities.

Upcoming newbuild deliveries

A list of Oldendorff's 21 upcoming 'eco' bulk carrier newbuild deliveries between the end of 2018 and mid-2020 has been provided below.

No. Name Hull No. DWT Delivery Yard
1 Dietrich Oldendorff 10968 100,000 2020 Oshima
2 Diane Oldendorff 10969 100,000 2020 Oshima
3 Knut Oldendorff 201 81,600 2019 Hantong
4 Kim Oldendorff 202 81,600 2019 Hantong
5 Klara Oldendorff 213 81,600 2019 Hantong
6 Kendra Oldendorff 215 81,400 2019 Hantong
7 Kaspar Oldendorff 216 81,400 2019 Hantong
8 TBN Oldendorff 241 81,500 2020 Hantong
9 TBN Oldendorff 242 81,500 2020 Hantong
10 Beate Oldendorff 10882 62,500 2020 Oshima
11 Benjamin Oldendorff 10914 62,500 2020 Oshima
12 Britta Oldendorff 10930 62,500 2020 Oshima
13 John Oldendorff 244 61,500 2019 NACKS
14 Julius Oldendorff 240 61,500 2019 NACKS
15 Jan Oldendorff 241 61,500 2019 NACKS
16 Jacob Oldendorff 055 61,500 2019 DACKS
17 Jens Oldendorff 062 61,500 2019 DACKS
18 Jonas Oldendorff 063 61,500 2019 DACKS
19 Dorthe Oldendorff 1001 38,000 2018 Huahai / Beihai
20 Christiane Oldendorff 1058 36,000 2018 Samjin Heavy
21 Christopher Oldendorff 1059 36,000 2019 Samjin Heavy

Related Links:

Oldendorff joins Sustainable Shipping Initiative
Oldendorff sets bunker volume record as deliveries jump 27%

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