Shipping power house Oldendorff, one of few German owners active in the secondhand market this year, is said to be helping compatriot owner NSC Schiffahrt to offload four bulkers. Sources said that Oldendorff is transferring US$38m en block for four bulkers built at two different Chinese yards, Yangfan and Taizhou Catic.

The sale marks a change in focus for the diversified German owner NSC Schiffahrt which is nearing a dry bulk market exit if the sales of the 93,000dwt Tana Sea and Tonda Sea both built five years and, and the one year younger Tonic Sea, and her sister Tango Sea are finalised.