ESL Shipping took delivery of newest ice-strengthened vessel in Vietnam

ASPO Plc - Stock Exchange Release, May 29, 2012

ESL Shipping Ltd, part of the Aspo Group, has taken delivery of a new 56,000 dwt vessel from the Korean Hyundai Mipo shipyard. M/s Kumpula is the second of two dry cargo vessels built in Vietnam, and owned by ESL Shipping.

The vessel was named in a ceremony on Friday May 18. Mrs Anja Arteva, the spouse of Matti Arteva, Vice-Chairman of the Aspo Board, adopted the role of godmother to the vessel. The ships of ESL Shipping have traditionally been named after localities of Helsinki.

M/s Kumpula is a supramax class vessel and has built-in cranes as well as a ballast water treatment system. The length of the vessel is 197 meters and maximum draft with a full cargo is 13.0 meters. She sails under the Finnish flag.

In January 2012, ESL Shipping took delivery of m/s Arkadia, the first of its dry cargo supramax vessels from the same shipyard. The vessel has been in traffic in the Baltic Sea area since March.

"The new Kumpula and her sister vessel m/s Arkadia are the first 1A ice-strengthened dry cargo vessels in their class. Both are tailor-made for the cargo traffic in the Baltic Sea area and for operations in demanding conditions," says Markus Karjalainen, President of ESL Shipping.

"Kumpula is a part of the fleet renewal specified in ESL Shipping's strategy," says Aki Ojanen, CEO of Aspo Group. "The new vessel will further strengthen our position as the leading dry cargo transport company in the Baltic Sea area."

ESL Shipping transports dry bulk materials, mainly in the Baltic Sea region; in 2011, approximately 13.3 million tons. The cargo mainly consists of ore, coal and limestone. The steel industry's share of transports was 60 percent, and the energy industry represented 30 percent. Including the new ship, the shipping company's fleet consists of 18 vessels, 14 of which it owns in full. Two are time-chartered, one is bareboat chartered and one is partially owned. The total dead weight capacity of the vessels is approximately 322,000 tons.

M/s Kumpula - technical details:
Tonnage 56.348 dwt
Length 197.08 m
Breadth 32.26 m
Draft 13.00 m
Ice class 1A

ASPO Plc
Aki Ojanen
CEO

Aspo is a conglomerate that owns and develops business operations in the Baltic Sea region focusing on demanding B-to-B customers. Our strong company brands - ESL Shipping, Leipurin, Telko and Kaukomarkkinat - aim to be the market leaders in their sectors. They are responsible for their own operations, customer relationships and the development of these. Together they generate Aspo's goodwill. Aspo's Group structure and business operations are continually developed without any predefined schedules.

ASPO Plc press release