ESL Shipping secures financing for the construction of fossil-free ‘Green Handy’ vessels from Svenska Skeppshypotekskassan
ESL Shipping is building four new fossil-free handysize vessels for the Nordic green transition, two of which will be financed by a loan from Svenska Skeppshypotekskassan. The financing for the two new vessels, known as ‘Green Handy’ vessels, amounts to EUR 70 million.
The Green Handy vessels are small cargo vessels with a maximum cargo capacity of 17 tonnes. They are designed to support the Nordic green transition by operating entirely fossil-free, utilising green hydrogen-based e-methanol or bio-methanol. These vessels will be 1A ice-classed, ensuring their ability to operate in the ice-bound Nordic regions. All four vessels are expected to enter into service between Q3 2027 and Q1 2028.
The lender, Svenska Skeppshypotekskassan, was established in 1929 with the purpose of benefiting Sweden’s economic development by granting loans to Swedish shipping companies or to foreign shipping companies with significant Swedish influence or interest. ESL Shipping is the first foreign shipping company to receive financing from Svenska Skeppshypotekskassan.
ESL Shipping is part of the Aspo Group, listed on the Helsinki Stock Exchange.
ESL Shipping was advised by Mannheimer Swartling in relation to the financing of the two Green Handy vessels. The firm’s team consisted mainly of Susanne Fagerman and Ella Schelin.
