Aalto Shipping Company Begins Operations

Aalto Shipping Company has acquired to its fleet two modern, ice-strengthened dry bulk carriers and has started operating them. The ships will be moved under the Finnish flag over the coming months.

“The shipping company project restores tonnage to Finnish hands, since the vessels will operate under the leadership of Finnish officers. The ships acquired now are familiar farers of the Baltic Sea, and one of them previously served the Finnish paper industry for many years,” says Tatu Laurila, Managing Director of Aalto Shipping Company Oy.

The names of the two new vessels under the Finnish flag will be m/s “Aurora” and m/s “Bothnia”. The vessels are sister ships built in the Netherlands in 2002. The cargo tonnage of the vessels is 7,750 tonnes (dwt), their total length is approximately 120 metres, and they are extremely fuel-efficient.

The ships meet the high Finnish ice class requirement 1A and can operate in difficult ice conditions year-round. The ships are suited to carrying many types of cargo. Aalto Shipping Company has time-chartered them for several years ahead.

Taaleri has capitalised its ownership in Aalto Shipping Company through its co-investment concept whereby the company invests along with its customers from its own balance sheet.

“Our domestic shipping company project immediately aroused great interest among our customers. In our co-investment model, Taaleri carries the owners’ risk together with its customers. We have found highly competent people to take charge of the project,” says Jorma Alanne, Investment Director at Taaleri.