Oldendorff secures financing deals for 23 ships with Chinese leasing firms

German bulker operator Oldendorff has completed a total of 23 deals with three Chinese leasing companies in the past twelve months.

The deals include the sale of secondhand vessels and newbuild resales, chartered back on bareboat charters, fixed time charter and floating time charter arrangements. The vessels involved are four 209,000 dwt bulkers, two 180,000 dwt bulkers, four 81,000 dwt bulkers, eight 63,500 dwt bulkers and five 61,000 dwt bulkers.

According to Oldendorff, none of these deals involve lease finance. The charters the company provided are market related and mostly on a floating index rate basis.

“We are very pleased with the Chinese built vessels that we are operating in our global network of trades. A lot of trust and friendship has been built with several yards and we will keep going back to China for more newbuilding’s and resales in the future,” the company said.

Oldendorff currently owns a fleet of 78 vessels with another 24 on order.