Ethiopian Shipping Lines S.C. (ESL) has signed an agreement with Chinese companies to buy nine vessels

ADDIS ABABA, Dec 3 (NNN-ENA) — Ethiopian Shipping Lines S.C. (ESL) has signed an agreement with Chinese companies to buy nine vessels which will enable the company to more than double its capacity to 400,000 tons from the current 150,000 tons.

ESL Managing Director Ambachew Abraha told ENA here Wednesday that the company signed the agreement with the Chinese companies to buy seven general cargo vessels and two tankers at a total cost of more than 290 million USD.

The general cargo vessels and tankers have the capacity to carry 28,000 tons and 41,500 tons each respectively, he said, adding that the vessels would further enhance Ethiopia's ever-increasing import-export businesses.

Under the agreement, the vessels would arrive in Ethiopia after two years, he said.
He also said that ESL was able to manage tankers with international standard procedures.

The company has secured 109 million Birr during the first quarter of the current Ethiopian fiscal year from transporting more than 730,000 tons of cargoes.

He said the company had already started training staff at the Maritime Training Institute established at Bishefitu Town. — NNN-ENA