ESL Shipping secures financing for four methanol dual-fuel vessels

Financial institution Nordic Investment Bank has signed a 10-year loan agreement with dry bulk shipping company ESL Shipping to finance the construction of four bulk carriers equipped with methanol dual-fuel engines.

IMAGE: ESL Shipping’s methanol dual-fuel bulk carrier concept. ESL Shipping

All four vessels will feature methanol dual-fuel engines and dedicated methanol tanks, enabling them to run on both methanol and conventional marine fuels. ESL Shipping intends to use e-methanol as the primary fuel, with the vessels’ large tanks providing an operating range of up to 10,000 nautical miles.

Delivery is scheduled between the third quarter of 2027 and the first quarter of 2028.

However, the company has not yet revealed the shipbuilder.

The Nordic Investment Bank is owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden.

By Tuhin Roy

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