Dry CargoEuropeFinance and Insurance
ESL Shipping lands windfall by offloading Alandia insurance stake
Helsinki: Baltic Sea bulk operator ESL Shipping has sold its 3.5% share of insurance company Försäkringsaktiebolaget Alandia to Bore Ltd, part of Rettig Group.
The Finnish company would not disclose the transaction amount, but did say that it has realised a gain of approximately EUR4.9m ($5.14m) on the sale.
ESL Shipping has a fleet of 14 vessels, 13 of them fully-owned, and is part of the Aspo Group.