ESL Shipping secures funds for LNG-fueled newbuilds

ESL Shipping secures funds for LNG-fueled newbuilds
Image courtesy of Deltamarin

Helsinki-based ESL Shipping on Thursday signed a deal with the OP Corporate Bank to finance its two LNG-fueled handysize dry bulk carrier newbuildings. 

Under two separate agreements, the OP Corporate Bank will provide loans totaling €50 million (Approx. US$53 million) with a loan period of seven years.

The company’s total investment in the two vessels is approximately €60 million with the European Union providing up to €5.9 million in the period from 2016 to 2019 with €2.1 million to be paid in 2016.

According to ESL Shipping, the two 25,600 DWT LNG-fueled bulkers being built by Jinling Shipyard, in Nanjing, China, will be the first of their kind in the world.

The design and construction work is made together with the Finnish designer Deltamarin, as the vessels are based on Deltamarin’s B.Delta26LNG design.

The delivery is scheduled for 2018 and both vessels will be operating in the northern Baltic Sea.

1 EUR = 1.05915 USD

 

LNG World News Staff

Share this article

Follow LNG World News

Events>

<< Dec 2017 >>
MTWTFSS
27 28 29 30 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31

Singapore Maritime Technology Conference and Exhibition (SMTC) 2018

The 3rd Singapore Maritime Technology Conference and Exhibition (SMTC) 2018…

read more >

CWC Japan LNG & Gas Summit

The inaugural CWC Japan LNG & Gas Summit, with participation and support from METI, JERA, Tokyo Gas and IEEJ, is the dedicated platform for international suppliers…

read more >

Asia Pacific Maritime and Offshore Exhibition 2018

7 years in the making, APM is the premier shipbuilding & marine, workboat and offshore exhibition in Asia…

read more >

CWC 2nd Papua New Guinea Petroleum & Energy Summit

The 2nd CWC Papua New Guinea Petroleum and Energy Summit is held under the patronage of the Prime Minister of Papua New Guinea…

read more >