ASPO'S ESL SHIPPING SELLS NEWBUILDING TO SEB LEASING
2006-09-22T08:01:21 CETASPO Plc STOCK EXCHANGE BULLETIN September 22, 2006 at 9:00 a.m.
ESL Shipping Oy, a subsidiary of Aspo Plc, has signed an agreement with SEB Leasing Oy concerning one of the two vessels currently being built by ABG Shipyard Ltd in India. Under the agreement, ESL Shipping will assume responsibility for the supervision of the building works on behalf of SEB Leasing. At the same time, the company and SEB Leasing entered into a bareboat charter agreement under which ESL Shipping will lease the vessel for ten years. The agreement is worth about EUR 25 million.
Designed for service in the Baltic Sea, this 18,800 dwt bulk carrier equipped with on-deck cranes will be built to the highest Finnish ice class 1A Super. The new vessel will expand ESL Shipping's "Eira" class, thereby further strengthening the shipping line's presence on the Baltic Sea. The vessel is due for commissioning in 2008.
ESL Shipping is a dry bulk cargo carrier operating mainly in the Baltic region. In 2005, the company shipped some 14 million tons of cargo. The energy sector accounted for approximately 33% and the steel industry for about 57% of the transportation volume.
ASPO Plc
Gustav Nyberg
CEO
For further information, please contact:
Gustav Nyberg, +358 9 7595 256, +358 40 503 6420
gustav.nyberg@aspo.fi
Aspo Group focuses on logistical services for industry. Aspo serves businesses in the energy and industrial process sectors requiring strong specialist and logistical know-how. Aspo's net sales in 2005 totaled EUR 204.9 million. About 36% of this came from Aspo Chemicals, 39% from Aspo Shipping and 25% from Aspo Systems.
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