Oldendorff stretches financing for two Ultramax Newbuildings

German shipowner and operator Oldendorff Carriers has secured a 12-year financing extension for its two 60,500 dwt Ultramax newbuildings. The Japan Bank for International Cooperation (JBIC) and
Deutsche Bank have agreed to extend the financing, while Nippon Export and Investment Insurance (NEXI) are providing insurance for the portion co-financed Deutsche Bank. Oldendorff organized a namegiving ceremony for the two ECO Ultras MV “August Oldendorff” and MV “Auguste Oldendorff” at Japan Marine United’s Kure site on November 14. The vessels feature a Diesel United “Wärtsilä” 6RT-flex 50D main engine, 4 x 30 tons electro-hydraulic cranes with 12 cbm “Orts” grabs, CO2 in holds, A-60 bulk head and increased tanktop strength. Delivery is scheduled for December 2014 and January 2015.