[email protected] Shipping has signed a loan agreement of 32.2 million euros

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Aspo Plc
Press release
September 15, 2022 at 9:00 a.m.

[email protected] Dispatch has signed 32 euro.2 million loan byagreement with Svenska Skeppshypotek compared to investment in electric hybrid vessels

[email protected] Shipping, a subsidiary of ESL Shipping, has signed a €32.2 million loan agreement with Svenska Skeppshypotek. The term of the loan is 15 years. The loan is part of financing ESL Shipping’s investment in a series of six new energy-efficient 5,350 dwt hybrid-electric vessels, a project first announced in September 2021.

“We are delighted to have this loan agreement signed with Svenska Skeppshypotek, as we invite them to accompany us on our journey towards fossil-free shipping. We share a common goal of promoting green technologies and strengthening the maritime industry. Swedish,” said Frida Rowland, Business Development Manager at ESL Shipping and [email protected] Shipping.

The new Ice Class 1A hybrid-electric vessels lead the market in terms of cargo capacity, technology and innovation. Greenhouse gas emissions, including CO2, from new ships will decrease by almost 50% compared to existing ships, making them the most efficient ships in the world in their size class. The batteries of the ships, the electricity solution on land and the hybrid electric use allow stopovers completely emission-free and noise-free. Ships can also arrive and leave the port with only electric power.

“Svenska Skeppshypotek is very happy to work with [email protected] Shipping and Aspo Plc. The introduction of new green technologies will not only reduce the carbon footprint of transport, but also mark the start of a new, higher standard for coastal cabotage,” said Arne Juell-Skielse, CEO of Svenska Skeppshypotek.

The new vessels will be built at the Chowgule and Company Private Limited shipyard in India. The first ship will enter service from the third quarter of 2023.

Aspo Plc

For more information, please contact:
Mikki Koskinen, Managing Director, ESL Shipping tel. +358 50 351 7791, [email protected]
Keijo Keränen, Group Treasurer, Aspo Plc, +358 400 955 821, [email protected]

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Aspo creates value by owning and developing business in a sustainable and long-term manner. Our companies aim to be market leaders in their sectors. They are responsible for their own operations, customer relationships and the development of these to lead the way in sustainability. Aspo supports the profitability and growth of its businesses with the right capabilities. The Aspo Group has businesses in 18 different countries and employs a total of approximately 930 professionals.

ESL Shipping together with its wholly owned subsidiary [email protected] Shipping is the leading dry bulk and cargo carrier in the Baltic Sea with a fleet of 48 vessels ranging from 3,000 to 56,000 deadweight tons. In 2021, the Group’s turnover was 191 MEUR and an operating result of 26.8 MEUR. ESL Shipping is part of the Aspo group.

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