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Oldendorff Carriers picks up ultramax from Mitsubishi

Sources tell Splash that the German giant Oldendorff Carriers has just added an ultramax.

The company knows the ship well as it took it on a one-year charter for $4,668 per day just after Christmas last year. Now brokers note that Oldendorff has paid $18.60m for the 2014-built, 64,000 dwt, In Iwagi. The price appears in favour of Oldendorff as VesselsValue prices the Iwagi Zosen-built ship about $1m higher than the reported sale price.

The sale comes from MC Shipping, a shipowning vehicle belonging to Mitsubishi Corporation. MC Shipping is listed only selling two other ships since 2014, one of these, a post-panamax, was also bought by Oldendorff. MC Shipping is listed with 21 large bulkers with a fleet average age of four years.

Hans Thaulow

Hans Henrik Thaulow is an Oslo-based journalist who has been covering the shipping industry for the last 15 years. As well as some work for the Informa Group, Hans was the China correspondent for TradeWinds. He also contributes to Maritime CEO magazine. Hans’ shipping background extends to working as a shipbroker trainee with Simpson, Spence & Young in Hong Kong.
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