We have acquired a 180,000 tdw Capesize newbuilding resale (Hull No. 131) from Jinhai Heavy Industry Co Ltd. The vessel was launched in summer 2016 and is expected to deliver to us in March or April 2017 as MV “William Oldendorff”.

Jinhai has built and delivered 40 Capesize vessels of about 176,000 tdw between around 2010 and 2014 to various owners including Bocimar, Cargill / Carval, Fredriksen, Noble, Augustea, Golden Union, Sinotrans, Zosco etc. However, the vessel we acquired is of the newer “CSDC-180k” design and features B&W 6S70MC Mark 4 engine, built by Hyundai Heavy Ind. in Korea.

Jinhai Heavy is currently rather active, being in the middle of building a series of 15 x 12,000 TEU ships for MSC and 2 x 2,500 TEU for CMA-CGM, 2 x VLCCs, 1 x 7000 cbm dredger, 1 x offshore service platform etc.

Recently, we have focussed on Newcastlemax size vessels for our own fleet, so this is the first regular 180,000 tdw Capesize since we resold 2 x 180,000 tdw resales ex-Beihai Shipyard to Greek owners at US$ 58.0 mio and US$ 50.0 mio respectively for delivery August 2014 and January 2015, which were also of CSDC design.

We will also take delivery of the following acquisitions shortly:

95,600 tdw – built 2014 at Imabari (Post-panamax)

93,300 tdw – built 2010 at Yangfan (Post-panamax)

83,600 tdw – built 2008 at Sanoyas (Kamsarmax)

This brings our total second hand and resale acquisitions in the last roughly 12 months to 22 ships:

1 x 180,000 tdw Capesize NB resale, blt 2017

4 x 119,000 tdw Baby Capes, blt 2011

2 x 115,000 tdw Baby Capes, blt 2010 - 2012

2 x 95,000 tdw Post Panamxes, blt 2013 – 2014

5 x 93,000 tdw Post Panamaxes, blt 2010 - 2012

1 x 88,000 tdw Post Panamax, built 2006

1 x 84,000 tdw Kamsarmax, built 2008

1 x 74,000 tdw Panamax, built 2006

1 x 58,000 tdw Supra NB resale, built 2017

2 x 38,000 tdw Handies NB resales, built 2017

2 x 33,000 tdw Handies, built 2010

During the same period, we took delivery of 15 newbuildings from yards in China.

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PRELIMINARY PARTICULARS:

180k Newbuilding Resale #131 ex-Jinhai Heavy Ind., China

180,000 tdw on ssw scantling draft of 18.30 m

LOA 292 m, breadth 45 m, height 24.8 m

199,000 cbm capacity in holds, 9 holds / 9 hatches

Accomodation for 30 plus 6 suez crew.

CLASS: ABS +A1(E), Bulk Carrier, CSR, BC-A, (Hold Nos. 2, 4, 6 and 8 may be empty),

ESP, +UWILD, BWE, +AMS, +ACCU, AB-CM, GRAB(25), POT, CRC, RW, TCM.

Main engine MAN-B&W 6S65ME-C8 TIER II, 15,530 hp at 86 rpm, built by Hyundai in Korea

Auxiliary engines 3 x 900 kw, Daihatsu, built in Japan

Makers list 90% imported equipment from Europe, Korea and Japan

15 kn ballast / 14 kn laden on 55.0 t + 2.5 t = 57.5 tons HFO

14 kn ballast / 13 kn laden on 45.5 t + 2.5 t = 48.0 tons HFO

13 kn ballast / 12 kn laden on 38.0 t + 2.5 t = 40.5 tons HFO