Aspo: The company buys four new fossil-free vessels - Nordea

ESL Shipping will buy four new fossil-free handy sized vessels for total of EUR 186m. These new ships will arrive between Q3 2027 - Q1 2028 and will namely use e-methanol. The company was expected to order new vessels why the announcement was not a big surprise. Fossil free ships are needed to transport customer’s fossil free products, for example in the material (steel) sector. ESL Shipping ordered 12 coaster-sized electric hybrid vessels in 2021 but these vessels were not totally fossil free. Pooling could be used as one financial instrument also in the newest handy sized vessel investment. Fossil free transport is the right strategy for Aspo in the long term. However, the weak economic environment will make it hard for Aspo to improve clearly in H2 2024 we note. But the share price has considerable upside potential if the strategy execution is successful.

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