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Ethiopian Shipping and Logistics Service Enterprise (ESLSE) inked and agreement with Turkish steel suppliers to transport steel and iron goods from the ports of Turkey to Djibouti which will then be imported to Ethiopia.

ESLSE will ship the goods from the ports of Aligas, Izrim, and Alexandria to Djibouti with discounted prices. According to Roba Megersa, Chief Executive Officer of ESLSE, ESLSE is working towards increasing its service reach by deploying its cargo ships and additional charter ships to Turkish ports.

Source: Fana BC

Ethiopian Shipping and Logistics Services Enterprise (ESLSE) was able to transport 7.2 million tons of dry cargo during the 2021/2022 fiscal year. The Enterprise said it managed to get the result despite several challenges. The Enterprise’s goal for the concluded fiscal year was to transport 10 million tons of shipment.

The rules of formation for the Ethiopian Shipping and Logistics Services Enterprise were made public last week.  The set up capital for the enterprise was established at 3.7 billion birr.

The rules of formation show the enterprise to be a government development corporation as well as establishing the rights, responsibilities and regulations of the company.

The enterprise is expected to offer shipping services, stevedoring and shore handling services for import and export purposes, multi modal transport, dry port and warehousing, freight forwarding and clearing amongst other logistical services according to the rules of formation.

The Ethiopian Shipping and Logistics (ESL) has announced plans to boost its sea freight capacity to 5.8 million tons and generate Birr 144 billion in revenue during the 2025/26 fiscal year. The organization also revealed initiatives to expand domestic water transport, including the procurement of boats for use on inland waterways such as the Grand Ethiopian Renaissance Dam.

Ethiopian Shipping and Logistics (ESL) generated a revenue of Birr 57.14 billion birr, surpassing its financial targets for the 2023/24 fiscal year by 20%. The company also achieved a profit of Birr 8 billion.