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.
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