EMEA News
ESL Shipping Secures €70 Million Loan to Fund Methanol Newbuilds
Dry bulk shipping firm ESL Shipping has signed a €70 million ($79.2 million) loan agreement with the Swedish lending institute Svenska Skeppshypotek.
The funding will partially cover the cost of four 17,000 DWT handysize ships currently under construction at China Merchants Jinling Shipyard, ESL Shipping said in a statement on its website on Tuesday.
The first vessel is scheduled for delivery in the third quarter of 2027.
The total value of the newbuild program is €186 million. ESL expects to draw the loan in 2027 and 2028, with a maturity period of 15 years.
"We are delighted to continue our collaboration with Svenska Skeppshypotek in the financing of next-generation green ships," Mikki Koskinen, Managing Director of ESL Shipping, said in the statement.
"Partnering with a financial institution that possesses deep expertise in the maritime sector and a strong commitment to sustainable shipping is highly valuable."
