The leading dry bulk cargo company in the Baltic Sea region

ESL Shipping’s competitive edge is based on its pioneering role and ability to responsibly secure product and raw material transportation for industries and energy production year-round, even in difficult conditions. The shipping company loads and unloads large ocean liners at sea as a special service.

ESL Shipping’s vessels mainly operate in contract traffic in the Baltic Sea and in Northern Europe. Transportation operations in the Baltic Sean and the North Sea are mostly based on long-term customer agreements and established customer relationships.

Strong financial results

To provide flexible and reliable services for customers, a sufficiently large and interchangeable fleet is required. At the end of 2022, ESL Shipping had 41 vessel units in use, with a deadweight tonnage of more than 425,000 tons. Of these vessels, 23 were wholly owned (80% of the tonnage), two were minority owned, and the remaining 16 were time chartered.

In 2022, ESL Shipping achieved excellent financial results, enabled by high demand throughout the year in the shipping company’s main market areas, the shipping company’s long-term partnership strategy and the successful operations of the onshore and offshore personnel.

To strengthen its position in the smaller vessel category, ESL Shipping’s subsidiary AtoBatC ordered 12 highly energy-efficient next-generation electric hybrid vessels, every other of which will be sold to an investor group within the scope of the pooling arrangement.

Targeting for carbon neutral operations

A key goal in ESL Shipping’s strategy is to be a pioneer in sustainable shipping. The shipping company’s goal is to lead the way in technological solutions, sustainability and service quality. The most important goal is to reduce carbon intensity by 50% per tonne-mile by 2030 and enable carbon neutral operations by 2050. During 2022, ESL Shipping transported a total of 14.7 million tonnes of cargo, and its CO2 emissions per transported tonne of cargo decreased by 7.5% from the previous year.

The shipping company’s roadmap for fossil-free shipping consists of three parts. Vessels and powertrain solutions, designed to be as efficient as possible, play a key part. They enable the use of various fossil-free fuel mixtures and, for example, the use of batteries in lowering consumption peaks.

Reducing emissions in shipping calls for the production of renewable fuels on an industrial scale, as their availability is very limited at present. As a result, the shipping company is preparing long-term cooperation with leading energy suppliers to offer sea transportation with even lower carbon emissions in the future.

Customers who share the common vision of low emission shipping make up the third element. A good example of this is the Virtual Arrival trial started already in 2021, in which the aim is to further reduce emissions by optimizing the arrival time at the port.

Updated: 09.03.2023

ESL Shipping's share of Group's Net sales 2020