The Nordic Investment Bank (NIB) has signed a 10-year loan agreement with ESL Shipping Oy to finance the construction of four IA ice-classed green handy-sized ships.
As reported by Shipping Telegraph on October 10, 2024, these vessels will be built in Nanjing, China at China Merchants Jinling Shipyard (Nanjing) Co, Ltd. and they will enter service between the third quarter of 2027, and the first quarter of 2028.
These ships are fully equipped to use fossil-free green methanol, although the actual use of green fuel will depend on end customer preference and availability, and the EUR 45 million loan given by NIB will co-finance the construction of the new vessels.
André Küüsvek, president and CEO of NIB, says that “NIB is supporting ESL Shipping in their efforts to transition to more sustainable shipping solutions,” adding that, “This investment aligns with our mission to finance projects that improve the environment and contribute to the sustainable development of the Nordic-Baltic region.”
ESL Shipping Oy, part of Aspo Oy, is a dry bulk cargo company operating in the Nordic-Baltic region and has been in business for more than 75 years.
NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden.
