AtoB@C Shipping has signed EUR 32.2 million loan agreement with Svenska Skeppshypotek in relation to electric hybrid vessel investment

Aspo Plc
Press release
September 15, 2022 at 9:00 a.m.

AtoB@C Shipping has signed EUR 32.2 million loan agreement with Svenska Skeppshypotekin relation to electric hybrid vessel investment

AtoB@C Shipping, a subsidiary of ESL Shipping, has signed EUR 32.2 million loan agreement with Svenska Skeppshypotek. The maturity of the loan is 15 years. The loan is a part of financing of ESL Shipping’s investment in a series of six new, highly energy-efficient electric hybrid 5,350 dwt vessels, a project first announced in September 2021.

“We are pleased to have this loan agreement signed with Svenska Skeppshypotek, as we welcome them to partner us on our journey towards fossil-free shipping. We share a common goal of promoting green technology and strengthening the Swedish shipping industry”, said Frida Rowland, Director of Corporate Business Development at ESL Shipping and AtoB@C Shipping.

New 1A ice class electric hybrid vessels are market leaders in terms of cargo capacity, technology and innovation. The greenhouse gas emissions, including CO2, of the new vessels will decrease by almost 50% compared to existing ships, making the vessels the most efficient in the world in their size class. The vessels’ battery packs, shore-side electricity solution and electric hybrid use enable completely emission-free and noise-free port calls. Ships can also arrive and leave the port with only electric power.

“Svenska Skeppshypotek is very pleased to work with AtoB@C Shipping and Aspo Plc. The introduction of new green technology will not only reduce the carbon footprint from transportation it will also mark the beginning of a new higher standard to coastal shipping“, said Arne Juell-Skielse, CEO of Svenska Skeppshypotek.

The new vessels will be built at Chowgule and Company Private Limited shipyard in India The first vessel will enter service starting from the third quarter of 2023.


Aspo Plc

Further information, please contact:
Mikki Koskinen, Managing Director, ESL Shipping tel. +358 50 351 7791, mikki.koskinen@eslshipping.com
Keijo Keränen, Group Treasurer, Aspo Plc, +358 400 955 821, keijo.keranen@aspo.com

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Aspo creates value by owning and developing business operations sustainably and in the long term. Our companies aim to be market leaders in their sectors. They are responsible for their own operations, customer relationships and the development of these aiming to be forerunners in sustainability. Aspo supports its businesses profitability and growth with the right capabilities. Aspo Group has businesses in 18 different countries, and it employs a total of approximately 930 professionals.

ESL Shipping together with its fully owned subsidiary AtoB@C Shipping is the leading carrier of dry bulk and product cargoes in the Baltic Sea with a fleet of 48 vessels ranging from 3,000 to 56,000 deadweight tons. In 2021, the Group’s net sales were 191 MEUR and an operating profit of 26.8 MEUR. ESL Shipping is a part of Aspo Group.

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