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Esl Shipping Signs € 25 million loan agreement
ESL Shipping Ltd, part of Aspo Group, has signed a ship financing agreement with Pohjola Bank plc totalling EUR 25 million. The maturity of the loan is 12 years.
The agreement now signed will be used to finance the first EUR 30
million supramax vessel the company has ordered from the Korean Hyundai
Mipo Dockyard Co. Ltd. The vessel will have a carrying capacity of
56,150 dwt. The two supramax vessels ordered from Korea by ESL Shipping
are scheduled to be in traffic in the first half of 2012.
ESL Shipping transports dry bulk cargoes, mainly in the Baltic Sea
region; approximately 11 million tons in 2009. The steel industry’s
share of transports was 53 percent, and the energy industry represented
43 percent. The shipping company’s fleet consists of 17 vessels, of
which it owns 14 in full. Two are leased and one is partially owned. The
total dead weight tonnage of the vessels is approximately 200,000 tons.
In addition, the shipping company will also take delivery of a new
vessel in the fall of 2010. The approximately 20,000 dwt vessel has been
ordered from India.
Source: ASPO Plc?
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