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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.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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