Aspo subsidiary ESL Shipping builds a series of energy-efficient new generation electric hybrid vessels to meet growing demand

Aspo Plc

Stock Exchange Release

September 21, 2021, at 08.30

Aspo subsidiary ESL Shipping builds a series of energy-efficient new generation electric hybrid vessels to meet growing demand

AtoB@C Shipping AB, a Swedish subsidiary of ESL Shipping, part of the Aspo Group, builds a series of six new, highly energy-efficient electric hybrid vessels. These new 1A ice class vessels are top of the market in terms of cargo capacity, technology, and innovation. The total value of the six ships is approximately 70 Me and its cash flow is divided mainly for the years 2023–2024. AtoB@C Shipping has the option to expand the order with several ships.

The greenhouse gas emissions, including CO2, of new vessels per cargo unit transported will decrease by almost 50% compared to the existing ships, making the vessels the most efficient in the world in their size class. the 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.

The loading capacity of the vessels is 5,350 tonnes (dwt), length 90 meters, breadth 16 meters and draft 6 meters.

The new vessels will be built at Chowgule and Company Private Limited shipyard in India and will enter service starting from the third quarter of 2023. The yard is part of the family owned Chowgule Group founded in 1916 and has long experience in building ships of similar size for several European clients.

The design work of the ships and comprehensive model tests have been carried out together with the Dutch based SMB Naval Architects. The shipping company has been closely involved in the design of the vessels and has tailored the vessels to customer needs. Special attention has been paid to the energy efficiency and arrangements of cargo spaces.

"The investment strengthens ESL Shipping's competitiveness and future growth as an industrial partner. These new vessels provide compelling evidence of Aspo's and its businesses' ability to lead the way as forerunners in sustainability in their industries and they respond to growing customer demand,” said Rolf Jansson, CEO of Aspo.

"We are very pleased to be able to invest in new, energy-efficient vessels. Together with the shipbuilder Chowgule and AtoB@C Shipping, we will make shipping even more environmentally friendly,” said Mikki Koskinen, Managing Director of ESL Shipping and Chairman of the Board of AtoB@C Shipping.

In connection with the vessel order, the possibilities of using various ship ownership and financing solutions to accelerate business growth and expand the service will be explored. This may include, for example, ship ownership and financing solutions commonly used in the international shipping business which have not previously been used by ESL Shipping.

ASPO PLC

Further information, please contact:

Rolf Jansson, CEO, Aspo Plc, tel.  264

Mikki Koskinen, Managing Director, ESL Shipping tel. +358 50 351 7791

Aspo is a conglomerate that owns and develops businesses in Northern Europe and growth markets, focusing on demanding B-to-B customers. The aim of our strong corporate brands – ESL Shipping, Leipurin, Telko and Kauko – is to be the market leaders in their sectors. They are responsible for their own operations, customer relationships and the development of these. Together they generate Aspo’s goodwill. Aspo’s Group structure and business operations are developed persistently without any predefined schedules.

Distribution:        

Nasdaq Helsinki

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