Aspo’s subsidiary ESL Shipping has confirmed an additional order for one electric hybrid vessel

Aspo Plc
Inside information
June 28, 2022 at 4 p.m.

Aspo’s subsidiary ESL Shipping has confirmed an additional order for one electric hybrid vessel

AtoB@C Shipping, a subsidiary of Aspo Group’s ESL Shipping, has declared an option and order for the first additional vessel from the Indian shipyard Chowgule & Company Private Limited, from which the shipping company has previously ordered six identical electric hybrid vessels, as announced in September 2021.

In connection with the forthcoming series of new-generation electric hybrid vessels and additional vessel options, ESL Shipping is preparing to start a long-term pooling partnership together with a group of investors consisting of institutional and private investors. The pooling structure is a model commonly used in the international shipping business for the ownership and operation of vessels, and it is introduced to accelerate the growth, profitability and return on capital of ESL Shipping's business.

The first two of the new generation of energy-efficient hybrid electric vessels are already under construction, and the planned delivery of the first vessel is scheduled for the third quarter of 2023.


Aspo Plc

Rolf Jansson
CEO

Further information, please contact:
Rolf Jansson, CEO, Aspo Plc, tel. +358 400 600 264
Mikki Koskinen, Managing Director, ESL Shipping, tel. +358 50 351 7791

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

ESL Shipping together with its fully owned subsidiary AtoB@C Shipping is the leading carrier of dry bulk and product cargoes in the Baltic Sea with a fleet of 48 vessels ranging from 3,000 to 56,000 deadweight tons. In 2021, the Group’s net sales were 191 MEUR and an operating profit of 26.8 MEUR. ESL Shipping is a part of Aspo Group.