Oldendorff Carriers saved shipping costs and reduced carbon emissions by investing in a Trinidad and Tobago transshipment hub. Now with the transshipment operation in Trinidad, Oldendorff Carriers can utilize large ships with up to 200,000mt capacity.
Prior to the 2012 investment, shipping iron ore from the Amazon and Orinoco River was carried out in medium size vessels due to the draft restrictions within the rivers.
It took 4 of these ships over 75 days to supply 1 shipping order to China, racking up Oldendorff Carriers’s fuel costs and carbon emissions. Large ships holding more cargo would make the transport of material more efficient.
The company needed a base close to Brazil or Venezuela where they could transfer ore from smaller ships into larger vessels for the long voyages to China and the Middle East. Trinidad's Gulf of Paria provided deep water anchorage for the large draft ships and calm, protected marine space.
US$47.5 millionInvestment to date
6 monthsSet up time
ReductionIn carbon emissions
6 mioMetric tonnes shipped to date
Oldendorff Carriers specializes in carrying raw materials, thus the name bulk shipping. The company operates on average 500 vessels and each year carries around 300 million tons of bulk and utilized cargo as well as performs 14,000 port calls in 125 countries.
The company was founded in 1921 by Egon Oldendorff in Luebeck, Germany which still serves as the head office. Oldendorff's global operations are today coordinated from 18 offices world-wide by 2,100 employees of 60 different nationalities.
“We dealt with a lot of other countries and I was very impressed with the level of professionalism, the quality of questions, and issues we had to go through. I found it to be very reasonable.”
Saving costs and carbon emissionsThe Trinidad transshipment hub increases Oldendorff’s ore shipping capacity while reducing costs and carbon emissions. The hub can load four to five Capesize vessels every month, with potential to ship 9 million tons annually and more.
Skilled labour forceThe country’s experience in marine oil and gas built a large pool of high skilled, experienced labour that Oldendorff could draw from. The University of Trinidad and Tobago’s maritime programme produces highly qualified graduates as well who are ready to work in the operation.
Strategic locationThe islands fall below the hurricane belt and haven’t had a natural disaster disruption in decades. Trinidad’s Gulf of Paria offers deep, protected water for large draft vessels.
Business friendlyOnce Oldendorff chose a site, implementation had to happen fast. Environmental licenses, construction permits and hiring were fast-tracked with minimum hassle as the hub needed an experienced crew.
InvesTT came to the rescue by facilitating the investment process so that Oldendorff could begin operations. The experience helped build capacity for making future maritime investment even faster and simpler.
This transshipment hub is a first for the country’s maritime industry and the project had to get done quickly. The agency quickly understood all that was required for Oldendorff and walked the company through the process, using the resources of its strategic alliances.
Within five months, InvesTT helped Oldendorff:
InvesTT continues to assist Oldendorff in its current operations.