ASPO PLC STOCK EXCHANGE RELEASE November 5, 2018 at 2 p.m.
AtoB@C, Swedish shipping company owned by Aspo's ESL Shipping, acquires a 4,100 dwt dry bulk carrier
AtoB@C Shipping AB, a Swedish shipping company owned by Aspo's ESL Shipping, has acquired a 4,100 dwt dry bulk carrier of ice class 1A built in 2000. Previously, AtoB@C operated the vessel under a long-term time charter. The shipping company also owns the sister vessel of the newly acquired dry bulk carrier.
This transaction improves the availability of vessel capacity ideal for customer contracts. It is expected to have a slight positive impact on profitability, but no significant impact on the balance sheet. The acquisition has been financed by using Aspo Group's existing financial instruments.
For further information, please contact:
Mikki Koskinen, Managing Director, ESL Shipping, +358 50 351 7791, email@example.com
Aspo is a conglomerate that owns and develops business operations in the Northern Europe and growth markets focusing on demanding B-to-B customers. Our strong company brands - ESL Shipping, Leipurin, Telko and Kauko - aim 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 continually developed without any predefined schedules. www.aspo.com
ESL Shipping is the leading dry bulk sea transport company operating in the Baltic Sea region. ESL Shipping ensures product and raw material transportation for industry and energy production year-round, even in challenging weather conditions. The shipping company also offers special services related to loading and unloading large oceangoing vessels at sea. Following the AtoB@C transaction, ESL Shipping will have a total of 50 vessels, including new ships with a deadweight capacity of 468,000 tonnes, compared to the previous 331,000 tonnes. Nineteen of the vessels are wholly owned, two are minority-owned, one vessel is leased, and the remaining 28 are time-chartered.