Oldendorff has made a tidy $3m profit over some swift dry bulk asset play providing yet another example of the turning fortunes in the sector seen since its depths a year ago.
The German company bought the 93,246 dwt bulker Cathrin Oldendorff in September for $9.5m back when the ship was called Tonda Sea. Broking reports now show the 2011-built ship has been sold on to Argentina’s Ultraocean for $12.5m.
in September for $9.5m back when the ship was called Tonda Sea. Broking reports now show the 2011-built ship has been sold on to Argentina’s Ultraocean for $12.5m.“Sellers made a quick profit of $2m in just four months, not bad,” commented Lion Shipbrokers in a weekly report.
Looks like USD 3 million to me
Well spotted Steven, will check the report and see which figure is not quite right here.