12/21/2015

Oldendorff buys fourth bulker in a week

Germany's Oldendorff Carriers has secured a Japanese controlled post-panamax bulker at a knock down price. The Imabari-built 88,000-dwt Ikan Kurau (built 2006) has been acquired from Shoei Kisen for just $6.2m. Oldendorff had bought three bulkers from Greek owner Paragon Shipping. The German owner is believed to have paid $15.5m enbloc for the 74,000-dwt Diamond Seas (built 2001) and Pearl Seas (built 2006) plus the 53,000-dwt Sapphire Seas (built 2005).