AtoBaC Shipping has signed a €32.2 million loan agreement with Svenska Skeppshypotek as part of an investment in an electric hybrid vessel

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AtoBaC Shipping, a subsidiary of ESL Shipping, has signed a €32.2 million loan agreement with Svenska Skeppshypotek. The term of the loan is 15 years. The loan is part of financing ESL Shipping’s investment in a series of six new energy-efficient 5,350 dwt hybrid-electric vessels, a project first announced in September 2021.

“We are delighted to have this loan agreement signed with Svenska Skeppshypotek, as we invite them to accompany us on our journey towards fossil-free shipping. We share a common goal of promoting green technologies and strengthening the maritime industry. Sweden,” said Frida Rowland, Business Development Manager at ESL Shipping and [email protected] Dispatch.

The new Ice Class 1A hybrid-electric vessels lead the market in terms of cargo capacity, technology and innovation. Greenhouse gas emissions, including CO2, from new ships will decrease by almost 50% compared to existing ships, making them the most efficient ships in the world in their size class. The batteries of the ships, the electricity solution on land and the hybrid electric use allow stopovers completely emission-free and noise-free. Ships can also arrive and leave the port with only electric power.

“Svenska Skeppshypotek is very happy to work with [email protected] Shipping and Aspo Plc. The introduction of new green technologies will not only reduce the carbon footprint of transport, but also mark the start of a new, higher standard for coastal cabotage,” said Arne Juell-Skielse, CEO of Svenska Skeppshypotek.

The new vessels will be built at the Chowgule and Company Private Limited shipyard in India. The first ship will enter service from the third quarter of 2023.
Source: Aspo Plc

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