Germany’s Reederei H Vogemann is to rebuild its diminished dry bulk fleet having inked a deal for up to eight handysize bulkers worth about $190m at China’s Taizhou Kouan Shipbuilding.
Newbuilding sources told TradeWinds the 135-year-old company had commissioned four firm vessels and four options with the price believed to be close to $24m per vessel.
However, the Hamburg-based shipowner declined to confirm the deal.
Market speculation
“I have heard the same rumours but to be quite frank we do not comment on market rumours,” Vogemann managing director Markus Lange told TradeWinds.
Sources said the ships will be built to the Green Dolphin 38 design and are understood to be open-hatch vessels, similar to three ships Vogemann is reported to have already ordered there.
A delivery date is not yet known, but brokers believe there is nothing standing in the way of an early 2021 delivery.
Taizhou Kouan’s docks are pretty empty right now
Recent visitor to the Jiangsu province-based yard
“Taizhou Kouan’s docks are pretty empty right now,” a recent visitor to the yard on the Yangtze River in Jiangsu province said.
Taizhou Kouan general manager Guo Chaoyi declined to comment.
Vogemann is a participant in Ahrenkiel Vogemann Bolten, a technical management joint venture with German asset manager MPC Capital.
TradeWinds reported in 2017 on an order for up to four 38,500-dwt ships, which are still under construction at Taizhou Kouan. Vogemann has firmed up optional vessels in that order.
The fresh order is understood to be separate and based on a considerably tweaked version of the Green Dolphin design.
Handysize focus
Despite its current focus on the handysize sector, Vogemann until recently owned bulkers of up to capesize.
It has been an active seller for several years and VesselsValue lists the sales of two capesizes and a panamax as “bank sales”.
TradeWinds reported last year that Korea Line had paid some $24.3m for Vogemann’s last capesize, the 176,800-dwt Vogerunner (built 2008), before renaming it SM Vision.
According to its website, which mentions some vessels previously reported as sold, Vogemann operates a fleet of 14 vessels.
Lange told TradeWinds that this number includes two MR1 product tankers and 12 handysize bulkers, and his company’s owned fleet is made up of four handysize bulkers
