Oldendorff makes $2m profit in four months from ship sale

Oldendorff has made a tidy $2m profit over some swift dry bulk asset play providing yet another example of the turning fortunes in the sector seen since its depths a year ago. The German company bought the 93,246 dwt bulker in September for $9.5m back when the ship was called Tonda Sea. Broking reports now show the 2011-built ship has been sold on to Argentina’s Ultraocean for $12.5m. “Sellers made a quick profitt of $2m in just four months, not bad,” commented Lion Shipbrokers in a weekly report