Alexander Oetker has confirmed that his shipowning company AO Shipping bought a kamsarmax from BW Dry Cargo for a reported $13.5m.

The Hamburg-based owner will time-charter the 82,600-dwt BW Acorn (built 2010) to the BW Group subsidiary for three years at a rate in the mid $10,000 per day.

The Japanese-built vessel was reported sold in July to a European buyer.

That came after the failure of an earlier deal to sell BW Dry Cargo ships, including the BW Acorn, in an en-bloc sale for around $41m to another buyer that was unable to put financing in place.

The two other kamsarmax bulkers in that failed transaction were sold to Centrofin of Greece.

As TradeWinds has reported, Centrofin took the 83,400-dwt BW Barley and the 81,500-dwt BW Einkorn (both built 2010) for an undisclosed price.

Oetker said AO's tenth ship will be managed by Orion Reederei, as are other ships in its fleet that include panamax and ultramax vessels.

The BW Acorn, previously named Meteor, was owned by Orion before being sold to BW Dry, so it has come almost full circle in the 100% equity sale to AO.

Oetker said he could look at more secondhand bulker purchases, more likely in 2022 than 2021, as AO has been able to keep all its vessels employed through the Covid-19 pandemic through relationships with strong charterers such as South America’s Ultrabulk.

“We don’t need very high rates, just good rates, and the market has really come back this summer. With the orderbook coming down, I think the outlook is really not that bad,” Oetker said.