Ethiopian Shipping Lines orders 9 ships from China

CHINA's active engagement with Africa has resulted in Ethiopian Shipping Lines (ESL) making its largest vessel order in the company's 46-year history, reports maritime consultant Alphaliner.
The Ethiopian national carrier has placed a contract for nine new ships at Chinese yards this week for about US$300 million with the Export-Import Bank of China funding 80 per cent of the cost.
The order is for seven 28,000-ton heavy lift multipurpose vessels at Shandong Huanghai Shipbuilding for $32.5 million a piece and for two 41,500-ton tankers at Jinling Shipyard for $37 million each. The multipurpose ships will be delivered from August 2012 and the last unit of the series is due in February 2014.
The new units will replace six cargo ships between 15,000 and 8,000 tons, built between 1984 and 1990.
Recently, Ethiopian sold a 30-year-old 3,500-ton container/roro vessel (Omo Wonz) as part of its fleet renewal programme. It is the second time that ESL has placed orders at Chinese yards.
In 2004, ESL ordered two multipurpose ships of 27,000 tons and 1,377 TEU in China, at the Kouan shipyard. The first of them, Shebelle, was delivered in November 2006 and the second unit, Gibe in June 2007.
Source:www.schednet.com