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Oldendorff Carriers buys three capesizes at $213m from Tata

Germany’s Oldendorff Carriers has agreed to acquire three capesize bulkers at an ‘en bloc package’ price of $212.76m from Singapore-based Trust Energy Resources, a subsidiary of India’s Tata Power Company.

The ships comprise of the 2016-built, 209,300-dwt Trust Amity, and Trust Agility and Trust Integrity, both built in 2011 and of 180,600-dwt in capacity.

The vessels will be taken over within the next three weeks in China and Europe.

Oldendorff Carriers said the transaction is a package deal that includes long term contracts of affreightment for the transportation of coal to India. The Trust Amity was already on time-charter to Oldendorff Carriers since it was delivered from Yangzijiang shipyard four years ago.

Peter Twiss, president and ceo of Oldendorff Carriers, said: “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.”

Praveer Sinha, ceo and managing director of Tata Power, commented: “The sale of our shipping assets announced today [14 June] 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.”

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