2merkato

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.

The Shipping and Logistics Enterprise of Ethiopia has made a minimum of 9% discount on ocean freight transport for the next month.

The Enterprise did not officially announce the discount, which has been effective since the 9th of February with importers discovering it through lower prices on shipments.

The discount is due to the coordinated efforts of the various government agencies that have come together to form the new Enterprise according to an official.

The Ethiopian Shipping and Logistics Services Enterprise (ESLSE) said it has garnered a profit of $57.84 billion (1.7 billion birr) during the 2018/19 Ethiopian fiscal year which ended on July 7, 2019.