Aspo: Two Supramax vessels sold for EUR 34m - Nordea

Aspo will receive EUR 34m in cash by divesting two Supramax vessels. The company has been considering the divestment of these vessels for some time why transaction was expected to happen in near future. The deal leads to EUR 7m sales loss in Q2. Aspo’s Supramax vessels have sometimes been loss making and currently posting a small profit. Ten years ago these Supramax vessels were used for coal transportation but the need for coal in Finland has declined. Vessels were too large for Aspo’s current customer portfolio and the company will focus on Handysize and Coaster vessels in the future. The divestment money could be used for new ships, and for acquisitions in the Telko segment we believe.

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