AtoB@C Shipping, a subsidiary of ESL Shipping, has signed EUR 32.2 million loan agreement with Svenska Skeppshypotek. The maturity of the loan is 15 years. The loan is a part of financing of AtoB@C Shipping’s investment in a series of six new, highly energy-efficient electric hybrid 5,350 dwt vessels, a project first announced in September 2021.

“We are pleased to have this loan agreement signed with Svenska Skeppshypotek, as we welcome them to partner us on our journey towards fossil-free shipping. We share a common goal of promoting green technology and strengthening the Swedish shipping industry”, said Frida Rowland, Director of Corporate Business Development at ESL Shipping and AtoB@C Shipping.

New 1A ice class electric hybrid vessels are market leaders in terms of cargo capacity, technology and innovation. The greenhouse gas emissions, including CO₂, of the new vessels will decrease by almost 50% compared to existing ships, making the vessels the most efficient in the world in their size class. The vessels’ battery packs, shore-side electricity solution and electric hybrid use enable completely emission-free and noise-free port calls. Ships can also arrive and leave the port with only electric power.

“Svenska Skeppshypotek is very pleased to work with AtoB@C Shipping and Aspo Plc. The introduction of new green technology will not only reduce the carbon footprint from transportation it will also mark the beginning of a new higher standard to coastal shipping“, said Arne Juell-Skielse, CEO of Svenska Skeppshypotek.

The new vessels will be built at Chowgule and Company Private Limited shipyard in India The first vessel will enter service starting from the third quarter of 2023.