Oldendorff buys Capesize bulker trio from Tata Power

first_imgThe vessels will be taken over within the next three weeks in China and Europe, according to Oldendorff. As informed, the deal involves the acquisition of three Capesize bulk carriers at an en block price of $212.76 million. “The sale of our shipping assets announced today is in line with our long term plans to reduce debt and raise funds to invest in our future growth plans, including expanding our presence in the renewable energy business,” Praveer Sinha, CEO & MD, Tata Power, commented. “(W)e are strengthening even further our trades in/out of India. We see India as one of the drivers for the years to come for the dry bulk market, and we want to be part of that growth,” Peter Twiss, President and CEO of Oldendorff Carriers, said. The ships in question are the 209,300 dwt, 2016-built Trust Amity, the 180,600 dwt, 2011-built Trust Agility and the 180,600 dwt, 2011-built Trust Integrity, to be renamed Hark Oldendorff, Tete Oldendorff and Tilda Oldendorff, respectively. The transaction is a package deal that includes long term contracts of affreightment for the transportation of coal to India. MV Trust Amity was already on time charter to Oldendorff since it was delivered from Yangzijiang Shipyard four years ago. Germany-based dry bulk carrier owner and operator Oldendorff Carriers has signed a “comprehensive” package deal with Singapore-based Trust Energy Resources, a subsidiary of Tata Power Company, India’s largest integrated power company. last_img read more


first_imgOne of Donegal’s great characters celebrates his 40th birthday this weekend.And in typical selfless fashion, Frank Larkin is putting others before himself.Frank, who has Spina-Bifida, has been part and parcel of Letterkenny life for ……well 40 years! Despite his challenging lifestyle, he always has a smile and is never short of a word.On Friday night, July 8th, Frank will hold a special charity birthday bash with all proceeds going to two charities – the Donegal branch of the Spina-Bifida Association and Hydrocephalus Ireland.The bash will take place in the Radisson Blu Hotel in Letterkenny and promises to be a great night’s entertainment which includes finger food, a charity auction and raffles.Music will be by Hugho and Off The Kuff with the auction beginning at 8.30pm sharp. Frank said “I’m really looking forward to my 40th bash. The plan is to raise as much money as possible and to have a great night’s fun.“I think we could all do with a bit of cheering up at the moment. If anybody is feeling down then they should think about me – I’m nearly 40,” he laughedEndsLET’S BE ‘FRANK’ – IT’S GOING TO BE A GREAT 40TH BASH! was last modified: July 6th, 2011 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:40th birthdaycharityFrank Larkinlast_img read more