ESL Shipping, part of Finnish conglomerate Aspo, is offloading its only two supramaxes as part of the company’s ambition to offer fossil-free dry bulk shipping.
The Aspo Group’s subsidiary has struck a deal with Turkey’s HGF Denizcilik for the sale of its 2012-built, 56,300 dwt sister vessels Arkadia and Kumpula.
The move follows Aspo’s plans announced last April to further finance ESL’s green transition, via a possible investment pool of fossil-free ships, equity injections in ESL Shipping by minority shareholders, and the sales of the company’s two largest vessels.
“The sale of the two supramax vessels is well aligned with ESL Shipping’s low-carbon strategy. It also stabilizes ESL Shipping’s profit generation and frees up capital for Aspo’s and ESL Shipping’s future strategic growth efforts,” said Rolf Jansson, CEO of Aspo and chairman of ESL Shipping.
The ships will change hands in April and May for a price tag of $37.1m. Following the sale, ESL said it would continue to focus on handysize and coaster vessels operating the Baltic Sea region where the company, together with its Swedish subsidiary AtoB@C Shipping, boasts a fleet of more than 40 bulkers ranging from 4,000 to 25,500 dwt.
“As the traditional markets for our supramax vessels on the Baltic Sea and the Arctic have changed significantly, now is the right time to sell these vessels. The sale will support our roadmap towards green shipping and our ambition to bring fossil-free handysize vessels to the market,” added Mikki Koskinen, managing director of ESL Shipping.
