ASPO Plc STOCK EXCHANGE RELEASE September 27, 2016 at 10:00 a.m.
ASPO'S ESL SHIPPING AND SINOTRANS & CSC SHIPBUILDING INDUSTRY CORPORATION AGREE TO ASSIGN BUILDING OF LNG-FUELED BULK CARRIERS TO SINOTRANS & CSC JINLING SHIPYARD
ESL Shipping and Sinotrans & CSC Shipbuilding Industry Corporation have agreed to assign building of ESL Shipping's extremely energy efficient LNG-fueled bulk carriers to Sinotrans & CSC main yard, Jinling Shipyard, located in Nanjing, China. The agreement ensures timely delivery and highest quality of the vessels and has no effect on the contract price.
The two new, ice-class 1A ships will be the first LNG-fueled large bulk carriers in the world, representing the latest in technology and innovation. CO2 emissions per ton of cargo transported will be reduced by more than 50% in comparison to present vessels. The new ships will start operating in the Baltic Sea during first half of 2018.
"We are extremely pleased with competence of Sinotrans & CSC Shipbuilding. Together with Jinling Shipyard we shall make shipping more sustainable and environmentally aware than ever before", says Mikki Koskinen, Managing Director of ESL Shipping.
ESL Shipping Ltd is the leading carrier of dry bulk cargoes in the Baltic Sea region. The company's main clients are the steel, power generation and chemical industries. ESL Shipping ensures availability of raw materials for industries and energy production throughout the year even in difficult climate conditions. Special services include loading, topping off and lightering of large ocean carriers at sea.
SINOTRANS & CSC Shipbuilding Industry Corporation (SINOTRANS & CSC SBICO) is one of the wholly state-owned subsidiary enterprises of China Merchants Group and also is one of the largest shipbuilding enterprises in China. The main business of SINOTRANS & CSC SBICO is shipbuilding, ship design, import-export trading, motor products and harbor machinery. With 4 affiliated Shipyards, Jinling, Jiangdong, Qingshan and Yichang. SINOTRANS & CSC SBICO is capable of building a wide variety of vessels up to 200,000 dwt, such as chemical tankers, oil carriers, container ships, RO/RO vessels, PCTC, gas carriers, bulk carriers, floating docks and offshore vessels in compliance with the rules and regulations of all major classification societies, like LR, ABS, NK, DNV GL, BV, CCS for worldwide clients.
Mikki Koskinen, Managing Director ESL Shipping Ltd, tel. +358 9 5211, +358 50 351 7791,
Aspo is a conglomerate that owns and develops business operations in Northern Europe and growth markets focusing on demanding B-to-B customers. Our strong company brands - ESL Shipping, Leipurin, Telko and Kauko - aim to be the market leaders in their sectors. They are responsible for their own operations, customer relationships and the development of these. Together they generate Aspo's goodwill. Aspo's Group structure and business operations are continually developed without any predefined schedules.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Aspo Oyj via Globenewswire