Oldendorff wins five-year deal for bulkers in Bangladesh

Germany's Oldendorff Carriers has clinched a coal import deal for its bulker fleet with Bangladesh Chinese Power Company (BCPCL).

The agreement will see it bring in between 3.8m and 4.5m tonnes per year for five years.

The coal will be sourced in Indonesia or Australia, with transhipment in the Andaman & Nicobar islands to the Payra power plant.

This will allow BCPCL to take advantage of lower freight costs using larger vessels to the Indian islands, and then smaller ships after that, due to draft restrictions at Payra port, the German owner said.