AtoB@C Shipping Acquires Dry Cargo Carrier

Maritime Activity Reports, Inc.

November 5, 2018

Pic: AtoB@C Shipping

Pic: AtoB@C Shipping

The Swedish shipping company owned by Aspo's ESL Shipping, AtoB@C 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.

Two months ago, ESL Shipping completed the acquisition of AtoB@C Shipping.

"Together we form a strong Nordic shipping company that is customer-driven. It has strong shoulders to build future success determinedly," says Mikki Koskinen, Managing Director of ESL Shipping.

"Aspo's strategy is to develop leading companies in its field. The acquisition will shift ESL Shipping to a new size class and put it in a good position to improve operational efficiency and overall profitability of the shipping company", says Aki Ojanen, CEO of Aspo Plc and Chairman of the Board of Directors of ESL Shipping.

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