Finland’s ESL Shipping, part of the Aspo Group, has secured fresh funds that will be directed to partly finance its hybrid electric bulkers under construction in India.
The company’s Swedish subsidiary, AtoB@C Shipping, has signed a €32.2m loan agreement with Svenska Skeppshypotek. AtoB@C Shipping has ordered twelve 5,350 dwt battery hybrid vessels for delivery from 2023 onwards, and the new loan, with a maturity of 15 years, will help fund a series of six newbuilds.
The new vessels will be built at the Indian shipyard Chowgule & Company, with the first ship expected to enter service in the third quarter of 2023.
The Finnish bulker operator, together with AtoB@C Shipping, has a fleet of 48 vessels ranging from 3,000 dwt to 56,000 dwt.
Tags: Aspo Group, AtoB@C Shipping, ESL Shipping, Hybrid Electric
Recent Posts
Vedanta Aluminium signs pact with GAIL for supply of natural gas
HMM introduces South Korea’s first LNG-powered vessels
NGEL inks pact with NREDCAP in Andhra for RE projects
Global warming won’t end if net zero is redefined
The Liberian Registry and Korean Register (KR) grant AiP to Samsung
To satisfy decarbonization targets, Big Oil invests billions in the manufacture of biofuel
ISO issues standards for methanol as a marine fuel
Amazon, partners to test electric trucks on a freight corridor in India