92 ships sold in five boom years
During the 5 years of booming markets from August 2003 until August 2008, Oldendorff Carriers sold 92 ships at prices totalling abt US$ 1.9 billion, as listed in the table below. This includes 10 ships where BB-charterers executed their purchase options, so we sold these ships to them in 2007 and 2008. The 92 ships consist of 11 Panamaxes, 12 Supramaxes, 43 Handies, 23 MPP's and 3 Ro/Ro's. During the same period, we acquired 26 ships from the market plus 16 ships by excercising low-priced purchase options while another 2 Panamaxes were converted to conveyor belt selfunloaders, which means the size of our own fleet effectively shrank net by 48 units during the past few years, whereas we have increased the number of vessels on trip and short period charter.
Our remaining fleet of owned and chartered vessels is fully hedged with Contracts of Affreightment (C.o.A.) as well as Period Timecharter with first class counterparts. We are operating the 7 conveyor belt selfunloaders in the CSL pool, which has full contract coverage for 5 - 10 years. The terms of our 4 Reloader projects run until at least 2016 - 2020. In addition to securing employment for our own and chartered fleet, we are long on cargo for the next several years. Among the ships we have on charter, 14 units are on a floating rate basis, where we pay according to index. We refrained from ordering newbuildings during the past several years, as we felt prices were historically too high. The accumulated war chest will enable us to take advantage of future opportunities. In the meantime we are also interested in offering our commercial and technical services to banks and other financial organisations, where we may be able to give advice how to overcome challenging situations for some of their projects. In case you need an initial evaluation or just an opinion, kindly contact our Sale + Purchase / Projects desk (+49 451 1500-190 s+p@oldendorff.com).
| Sold (delivery) | Vessel | Size | Built | Price | |
|---|---|---|---|---|---|
| 1 | Aug 08 | Eduard Oldendorff | 32.000 tdw | 2000 | US$ 52,5 mio |
| 2 | Aug 08 | Gertrude Oldendorff | 32.000 tdw | 2001 | US$ 52,5 mio |
| 3 | Feb 08 | Gebe Oldendorff | 24.000 tdw | 1998 | US$ 32,0 mio |
| 4 | Feb 08 | Mathilde Oldendorff | 20.000 tdw | 1999 | US$ 30,8 mio |
| 5 | Jan 08 | Jobst Oldendorff | 24.000 tdw | 1995 | US$ 30,0 mio |
| 6 | Dec 07 | Elise Oldendorff | 20.000 tdw | 1998 | US$ 30,0 mio |
| 7 | Dec 07 | Clipper Freeway | 29.000 tdw | 1998 | US$ 30,8 mio |
| 8 | Dec 07 | Pacific Fantasy | 29.000 tdw | 1996 | US$ 27,8 mio |
| 9 | Nov 07 | Elsa Oldendorff | 24.000 tdw | 1998 | US$ 29,0 mio |
| 10 | Oct 07 | Ingrid Oldendorff | 37.000 tdw | 2007 | US$ 30,0 mio |
| 11 | Oct 07 | Antonie Oldendorff | 20.000 tdw | 1999 | US$ 27,7 mio |
| 12 | Oct 07 | August Oldendorff | 78.000 tdw | 1982 | US$ 20,2 mio |
| 13 | Oct 07 | Fiesta | 29.000 tdw | 1997 | US$ 29,3 mio |
| 14 | Oct 07 | Pacific Fighter | 29.000 tdw | 1998 | US$ 30,8 mio |
| 15 | Aug 07 | Helena Oldendorff | 37.000 tdw | 2007 | US$ 30,0 mio |
| 16 | Jun 07 | Heinrich Oldendorff | 74.000 tdw | 2001 | US$ 49,0 mio |
| 17 | Jun 07 | Ernst Oldendorff | 26.000 tdw | 1997 | US$ 25,8 mio |
| 18 | Jun 07 | Edwine Oldendorff | 18.000 tdw | 2000 | US$ 20,5 mio |
| 19 | Jun 07 | Christiane Oldendorff | 29.000 tdw | 1996 | US$ 27,8 mio |
| 20 | Jun 07 | Ilsabe Oldendorff | 29.000 tdw | 1996 | US$ 27,8 mio |
| 21 | May 07 | Henry Oldendorff | 26.000 tdw | 1997 | US$ 26,8 mio |
| 22 | Apr 07 | Gisela Oldendorff | 20.000 tdw | 1997 | US$ 20,0 mio |
| 23 | Oct 06 | Auguste Oldendorff | 18.000 tdw | 2001 | US$ 17,2 mio |
| 24 | Jul 06 | Eckert Oldendorff | 29.000 tdw | 1983 | US$ 8,0 mio |
| 25 | Jul 06 | Eibe Oldendorff | 29.000 tdw | 1984 | US$ 8,0 mio |
| 26 | Jun 06 | Maria Oldendorff | 37.000 tdw | 2006 | US$ 27,0 mio |
| 27 | Jun 06 | Paul Oldendorff | 35.000 tdw | 2003 | US$ 27,0 mio |
| 28 | May 06 | Helena Oldendorff | 28.000 tdw | 1984 | US$ 7,1 mio |
| 29 | May 06 | Johann Oldendorff | 46.000 tdw | 1995 | US$ 21,7 mio |
| 30 | Apr 06 | Regina Oldendorff | 37.000 tdw | 2006 | US$ 27,0 mio |
| 31 | Apr 06 | Roxanne (RoRo) | 23.000 tdw | 1984 | US$ 7,6 mio |
| 32 | Mar 06 | Theodor Oldendorff | 18.000 tdw | 1998 | US$ 15,3 mio |
| 33 | Feb 06 | Rosario (RoRo) | 23.000 tdw | 1982 | US$ 7,6 mio |
| 34 | Feb 06 | Magdalena Oldendorff | 23.000 tdw | 1998 | US$ 19,0 mio |
| 35 | Oct 05 | Hille Oldendorff | 55.000 tdw | 2005 | US$ 39,9 mio |
| 36 | Oct 05 | Tete Oldendorff | 32.000 tdw | 2000 | US$ 27,5 mio |
| 37 | Sep 05 | Hans Oldendorff | 29.000 tdw | 1998 | US$ 23,0 mio |
| 38 | Aug 05 | Conrad Oldendorff | 76.000 tdw | 2002 | US$ 46,7 mio |
| 39 | Aug 05 | Hinrich Oldendorff | 32.000 tdw | 2000 | US$ 30,0 mio |
| 40 | Jul 05 | Catharina Oldendorff | 52.000 tdw | 2005 | US$ 42,1 mio |
| 41 | Jul 05 | Rixta Oldendorff | 28.000 tdw | 1986 | US$ 13,8 mio |
| 42 | Jul 05 | Gitta Oldendorff | 32.000 tdw | 2005 | US$ 24,8 mio |
| 43 | Jun 05 | Dora Oldendorff | 45.000 tdw | 2000 | US$ 34,0 mio |
| 44 | Jun 05 | Philipp Oldendorff | 52.000 tdw | 2003 | US$ 38,2 mio |
| 45 | Jun 05 | Cora Oldendorff | 45.000 tdw | 2000 | US$ 33,4 mio |
| 46 | Jun 05 | Margret Oldendorff | 24.000 tdw | 1992 | US$ 24,4 mio |
| 47 | Jun 05 | John Oldendorff | 52.000 tdw | 2002 | US$ 37,0 mio |
| 48 | May 05 | Erna Oldendorff | 18.000 tdw | 1994 | US$ 14,2 mio |
| 49 | May 05 | Cornelie Oldendorff | 11.000 tdw | 1998 | US$ 11,6 mio |
| 50 | Apr 05 | Belmonte | 74.000 tdw | 2004 | US$ 49,9 mio |
| 51 | Apr 05 | Linda Oldendorff | 75.000 tdw | 1995 | US$ 39,8 mio |
| 52 | Feb 05 | Caroline Oldendorff | 22.000 tdw | 1993 | US$ 15,2 mio |
| 53 | Feb 05 | Anna Oldendorff | 18.000 tdw | 1994 | US$ 14,5 mio |
| 54 | Jan 05 | Ingrid Oldendorff | 74.000 tdw | 2005 | US$ 43,5 mio |
| 55 | Jan 05 | Imme Oldendorff | 49.000 tdw | 1999 | US$ 22,0 mio |
| 56 | Jan 05 | Max Oldendorff | 48.000 tdw | 1997 | US$ 22,0 mio |
| 57 | Jan 05 | Frederike Oldendorff | 48.000 tdw | 1997 | US$ 22,0 mio |
| 58 | Jan 05 | May Oldendorff | 46.000 tdw | 1997 | US$ 22,0 mio |
| 59 | Jan 05 | Alfred Oldendorff | 46.000 tdw | 1996 | US$ 22,0 mio |
| 60 | Dec 04 | Dorthe Oldendorff | 22.000 tdw | 1994 | US$ 14,9 mio |
| 61 | Dec 04 | Gretke Oldendorff | 22.000 tdw | 1994 | US$ 14,9 mio |
| 62 | Nov 04 | Dietrich Oldendorff | 23.000 tdw | 1987 | US$ 10,6 mio |
| 63 | Nov 04 | Johanna Oldendorff | 23.000 tdw | 1987 | US$ 10,6 mio |
| 64 | Oct 04 | Beate Oldendorff | 20.000 tdw | 1990 | US$ 10,0 mio |
| 65 | Oct 04 | Maria Oldendorff | 20.000 tdw | 1988 | US$ 10,9 mio |
| 66 | Sep 04 | Lucy Oldendorff | 22.000 tdw | 1992 | US$ 12,6 mio |
| 67 | Sep 04 | Elisabeth Oldendorff | 22.000 tdw | 1992 | US$ 12,6 mio |
| 68 | Sep 04 | Hedwig Oldendorff | 73.000 tdw | 2001 | US$ 37,5 mio |
| 69 | Aug 04 | Alwine Oldendorff | 66.000 tdw | 1990 | US$ 18,5 mio |
| 70 | Aug 04 | Regina Oldendorff | 28.000 tdw | 1986 | US$ 13,2 mio |
| 71 | May 04 | Julia Oldendorff | 20.000 tdw | 2000 | US$ 18,5 mio |
| 72 | May 04 | Trina Oldendorff | 20.000 tdw | 2000 | US$ 18,5 mio |
| 73 | Apr 04 | Albert Oldendorff | 42.000 tdw | 1984 | US$ 8,8 mio |
| 74 | Mar 04 | Edward Oldendorff | 42.000 tdw | 1984 | US$ 8,8 mio |
| 75 | Feb 04 | Crowley Americas (RoRo) | 13.000 tdw | 1988 | US$ 9,5 mio |
| 76 | Jan 04 | Gitta Oldendorff | 42.000 tdw | 1984 | US$ 8,8 mio |
| 77 | Jan 04 | Ingrid Oldendorff | 42.000 tdw | 1984 | US$ 8,8 mio |
| 78 | Nov 03 | Lydia Oldendorff | 20.000 tdw | 1998 | US$ 16,3 mio |
| 79 | Nov 03 | Georg Oldendorff | 20.000 tdw | 1999 | US$ 16,3 mio |
| 80 | Oct 03 | Emma Oldendorff | 29.000 tdw | 1983 | US$ 4,1 mio |
| 81 | Aug 03 | Catharina Oldendorff | 24.000 tdw | 1983 | US$ 3,5 mio |
| 82 | Aug 03 | Harmen Oldendorff | 24.000 tdw | 1982 | US$ 3,5 mio |
| 82 vessels sold | totalling abt | 2.794.000 tdw | US$ 1.878,8 mio | ||
| Dec 07 | 7x MPP (TBS) | Purchase options | declared | US$ 20,0 mio | |
| Sep 08 | 3x Pnmx (Atlantska) | Purchase options | declared | US$ 12,9 mio | |
| 92 vessels sold | totalling abt | 3.180.000 tdw | US$ 1.911,7 mio |