Ethiopian Shipping and Logistics Service Enterprise (ESLSE) announced it has made a profit of 800 Million Birr from total revenue of 6.7 Billion Birr during the last eight months of the current fiscal year, Capital reported.

According to the Enterprise’s Public Relation Head, Osman Ali, ESLSE plans to earn a total of 10 Billion Birr revenue during the current fiscal year. And he added the Enterprise plans to get a net profit of one Billion Birr.

“We have 15 ships including nine new ones and a loading capacity of 400 Thousand Tons and what we will do is to upgrade our service by applying a multi modal system which currently holds 50 percent of the logistical services”, Osman said.

ESLSE celebrated its golden jubilee on Wednesday, May 21, 2014. President Mulatu Teshome attended the ceremony and also made a speech. He noted that a fast shipping and logistic service will accelerate a nation’s development and that ESLSE has played a big role in Ethiopia’s success.

A group of Ethiopian delegation led by Prime Minister Haile Mariam Desalegn along with President Ismail Omar Guelleh of Djibouti, also attended a ceremony held on Saturday, May 17, 2014. And it was during this ceremony the ribbon cutting ceremony for the nine new vessels took place.

Source: Capital