The Ethiopian Shipping and Logistics Services Enterprise is to take charge of two tanker ships in October according to sources.
The ELSE ordered the two tankers along with seven multi-purpose ships in deals that total 293.5 million US dollars. 80 percent of the financing for the acquisition of the ships was covered by the Export-Import Bank of China.
The two tankers cost 37 million US dollars each while the 28 thousand ton multi-purpose ship where each purchased for 32.5 million US dollars according to sources.
Delivery of the tanker ships was expected in August with the other seven ships to be delivered between August and February of 2014.The purchase of the ships will increase the freight capacity of the national liner to 150 thousand tons which is an increase of 183% from its current capacity.
The ESLSE currently has eight ships in operation. The new vessels are expected to replace six 8 thousand to 15 thousand ton cargo vessels all with more than two decades of service to the liner.
Source: Addis Fortune
