Charter contracts with an index-based floating rate are becoming more commonplace and are an interesting alternative to pool employment. The owner earns a full market rate without the administrational hassle of pool accounts, pool meetings and risk profiles. 

Floating charters offer continuous employment at index and hire is payable every day even if the vessel is waiting or ballasting. It lets the owner benefit from a market upturn instantly. A growing share of our operated fleet of around 500 bulk carriers is run on floating charter.

• 18 x 205-208,000 tdw Newcastlemax bulkcarriers
• 5 x 175-182,000 tdw Capesize bulkcarriers
• 4 x 169-174,000 tdw Capesize bulkcarriers
• 3 x 105-115,000 tdw Babycape bulkcarriers
• 3 x 93,000 tdw Post Panamax bulkcarriers
• 11 x 79-82,000 tdw Kamsarmax bulkcarriers
• 12 x 75-77,000 tdw Panamax bulkcarriers
• 8 x 60-66,000 tdw Ultramax bulkcarriers
• 20 x 52-58,000 tdw Supramax bulkcarriers
• 1 x 35-38,000 tdw Handysize bulkcarrier

We usually pay semi-monthly hire based on the average TC routes of the relevant BALTIC index, possibly with an adjustment for size or special features. Periodically, this is being adjusted based on the actual indices.
 
We are also operating ships on floating Bareboat Charter, where an agreed fixed operating cost component is being deducted from the average of the TC routes. By guaranteeing fixed opex, we are effectively shielding the owner from any cost increases. If you are interested in a quote, please approach Jens Jacobsen or Tim Walker.
 
Jens Jacobsen
Office: +65 6499 5547
Mobile: +65 8181 6155 
Email : jens.jacobsen@oldendorff.com
 
Tim Walker
Office: +65 6499 1945
Mobile: +65 8181 6164 
Email : tim.walker@oldendorff.com