The MPP and shortsea shipping company ESL Shipping wants to push ahead with the modernisation of its fleet and is selling an almost 20-year-old ship for this purpose.
As the Finnish company confirmed recently, a new owner has been found for the “Kallio”: For €18 million, the 21,350-tonner is moving to The Qrill Company AS, which operates in the animal feed industry.
One of the main reasons for the sale is the age of the ship and the associated planned modernization of ESL’s fleet. “Kallio” was built in China in 2006: “The sale will help accelerate ESL Shipping’s green transformation and strengthen the financing of the new vessels currently under construction,” reads a statement from the shipping company.
The sale price is reportedly around €18 million. The profit on the sale for Aspo – the group to which the shipping company belongs – is “expected to be around €10 million”, it added.
“We are investing heavily in Green Handy ships, which can be operated fossil-free and have ice class 1A. The development of the Green Handies is proceeding according to plan. By selling the “Kallio”, we are strengthening ESL Shipping’s balance sheet and implementing our strategy,” said Rolf Jansson, CEO of Aspo and Chairman of the Board of ESL Shipping. ESL Shipping is primarily active in short-sea and MPP shipping in the Baltic Sea region. Together with its own subsidiary AtoB@C, the Aspo Group subsidiary operates a fleet of around 40 vessels with a capacity of 4,000 to 25,000 dwt. In the recent past, a number of newbuilds have been ordered in various segments (including in India): For example, the Group is receiving both 5,350-tonne vessels and a series of 17,000-tonne vessels from China. To this end, loans and fresh capital have already been secured through ship sales.
Those responsible are clearly not worried about a tonnage bottleneck: “Ensuring sufficient capacity and reliable deliveries to our customers is our priority under all circumstances. The first new-generation Green-Handy vessel will join our fleet in around two years’ time. During the transition phase, we will consider chartering in or acquiring additional vessels if necessary,” said Mikki Koskinen, Managing Director of ESL Shipping.
