Ethiopian Shipping and Logistics (ESL) is advancing its fleet expansion program, with a high level technical delegation traveling to China to assess vessel supply options and hold preliminary talks with potential suppliers.

The visit follows government approval of ESL’s revised procurement strategy, which is intended to expand the national carrier’s maritime capacity and strengthen Ethiopia’s role in international shipping. The delegation is led by ESL Chief Executive Officer Abdulber Shemsu.

Under its five year strategic plan, ESL aims to increase its international fleet from ten vessels to sixteen. The planned acquisition package includes two brand-new heavy-lift Ultramax multipurpose vessels, one second-hand medium-sized container vessel, and three second hand Ultramax bulk carriers.

The company revised its procurement approach after facing delays in securing medium sized ships. Under the new framework, second hand vessels will be acquired through internationally recognized shipbrokers, while new vessels will be procured directly from shipyards through a separate competitive tender process.

ESL has also adjusted its financing plan. The company is reportedly in talks with the Commercial Bank of Ethiopia to finance around half of the acquisition cost, while the remaining balance is expected to be covered from internal resources.

The China mission is mainly focused on the second-hand vessel market, including the availability of ships that meet ESL’s technical and operational requirements. China’s position as a major shipbuilding and ship trading hub makes it a key destination for the company’s expansion efforts.

Maritime experts say the fleet expansion is strategically important for Ethiopia, helping improve logistics security, reduce exposure to supply disruptions, and support the country’s growing import and export needs.

Source: Capital Ethiopia Newspaper