Fleet expansion with
seven vessels

Opportunities in a market under pressure

The general downturn in shipping has been front page news lately. Several shipping companies became insolvent. Large container shipping companies like Hanjin Shipping and more recent and closer to home, Flinter in Barendrecht and Abis Shipping in Harlingen. Many captain-owners who are still sailing are having a hard time paying interest and redemption regarding their vessel mortgages. The shortsea market is currently experiencing difficult times. Time to put matters in perspective.

“Wagenborg is in the midst of the take-over process of seven ex-Feederlines vessels to be integrated in the existing fleet.”

Difficult times

The year 2016 has been a hectic year in shipping, also for Wagenborg. Financially this year was not a success but fortunately Wagenborg was able to further develop her fleet when other shipping companies faltered in the current difficult market conditions. The dry bulk market, characterized by the lowest Baltic Dry index ever, namely 290 points in February 2016 as opposed to a peak of 12.600 points in May 2008. Overcapacity in most segments led to bankruptcy of several shipping companies. Political instability in several countries didn’t really help economic recovery either: Brexit in the United Kingdom, political skirmishes in Turkey and the presidential elections in America.

A good reputation

Wagenborg owes a lot to her good reputation in the trade. According to our chartering department, several customers view Wagenborg as a solid company with excellent crews dedicated to their job. This results in an increase in the number of shipments. Furthermore, Wagenborg has an advantage, more than 60% of all shipments are done based on contracts as opposed to spot market and this percentage is increasing. Also, Wagenborg has a good relationship with various banks. They approached Wagenborg to take on management/chartering of some vessels acquired after bankruptcy of shipping companies.


Specifications L-type
Specifications L-type
Year 2008-2009
Ice-class 1B
Length over all 108,24m
Width 18,20m
Depth 9,00m
DWT 8.101 t
Hold capacity 360.202 cft
Main engine MAK8M32C

“With box-shaped holds and an ice classe, these vessels can be deployed worldwide carrying different types of cargo like wood- and paper products, breakbulk and bulk.”

Integration into existing fleet

The fleet is growing as far as the number of vessels is concerned and is larger than ever regarding tonnage. Currently, Wagenborg is in the midst of the take-over process of seven ex-Feederlines vessels to be integrated in the existing fleet. All vessels are coming to Delfzijl for the transfer. Willem Lubbersen and Evgeniy Kupryakov, two senior officers, are managing a thorough inspection, making sure the transition of these vessels is a smooth one.

It concerns a series of three 7.300 DWT, the so called Z-series and a series of four 7.500 DWT multi-purpose, dry cargo vessels, the L-series. With box-shaped holds and an ice classe, these vessels can be deployed worldwide carrying different types of cargo like wood- and paper products, breakbulk and bulk. With these features these ships fit perfectly in our existing fleet of ice strengthened, multi-purpose, dry bulk vessels.
 

 

Zijlborg, Zaanborg and Ziltborg

For the Z-series it concerns the sister vessels “Vechtdiep”, “Vliediep” and “Veersediep”, delivered on respectively December 7th 2000, May 12th 2001 and September 20th 2001 at Bodewes Scheepswerven Maatschappij in Hoogezand, renamed “Zijlborg”, “Ziltborg” and “Zaanborg” and supplied with the Wagenborg colours. Overall length of these vessels is 118,55 metres and measuring 15,43 metres in width.


Leuveborg, Lenneborg, Looborg and loenerborg

For the L-series it concerns four sister vessels “Leuvediep”, “Lingediep”, “Loodiep” and “Loenerdiep” built at Nanjing Huatai Shipyard Co. Ltd, Nanjing, delivered on respectively May 6th 2008, July 31st 2008, October 10th, 2008 and November 12th, 2008. These ships will be renamed “Leuveborg”, “Lenneborg”, “Looborg” and “Loenerborg” and will also be painted in the Wagenborg colours. Overall length of these vessels is 108,18 metres and they have a width of 18,50 metres. 


Specifications Z-type
Specifications Z-type
Year 2000-2001
Ice class 1A
Length over all 118,85m
Width 15,20m
Depth 8,45m
DWT 8.117 t
Hold capacity 328.949 cft
Main engine MAK8M32